Building posted a report today that some large US firms the size of Jacobs, AECOM and CH2MHill maybe looking at acquiring firms in the UK. Many UK firms have established offices in Europe, Middle East and North Africa which makes their businesses more appealing as they have established company structures and trained personnel. They also have large infrastructure projects such as Crossrail and work in North Africa already on their books.
US Companies are seeing that the recession has abated in the US and Europe so its the most opportune time to acquire companies at low valuations and increase their personnel count and revenues across the world.
Read the article at Building for a list of targeted companies, analysis and interviews.
Construction Week (Middle East) have just published the results of a salary survey held from April to September this year. The main findings of the survey is that most people are experienced and the UAE is not a place for first-jobbers. People consistently worked longer than 40 hour per week and have salaries in construction(including Architects) on average between $4500-$6047 (USD) month across the six GCC countries. The results also outline expectations for pay rises, housing, current pressures and other interesting information.
For more information go to the two articles at the [SOURCE: Construction Week (Middle East)]
1. Survey Analysis – Construction Week (Middle East)
2. Detailed Results – Construction Week (Middle East)
“Some contractors and consultants have not been paid for up to six months, and large Dubai-affiliated developers owe billions of dollars, according to contractors, lawyers and executives…”
SOURCE: FT.com / Middle East – Dubai contractors face cash flow crisis
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