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Pay offs have started-Building slow down

Pay offs have started-Building slow down

Old Oct 31st 2008, 4:32 pm
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Default Pay offs have started-Building slow down

2 major multi discipline services consultants laid off over 50 Architects/Engineers/cad operators on Thursday using cancelled projects as the reason. lets hope they find work somewhere in the very near future.
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Old Oct 31st 2008, 5:01 pm
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Default Re: Pay offs have started-Building slow down

I have been working on one of the major developments in Dubailand. We have been instructed to stop work for circa 3/4 months whilst the developer assesses the overall situation.

I also know of several 'large scale' projects that are now officially on hold
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Old Oct 31st 2008, 6:38 pm
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Default Re: Pay offs have started-Building slow down

reality bites....

even in my seemingly untouchable industry, we are hearing rumblings of new builds being cancelled
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Old Oct 31st 2008, 8:54 pm
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Default Re: Pay offs have started-Building slow down

Can confirm the same with a 'rather large' development.
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Old Nov 1st 2008, 8:00 am
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Default Re: Pay offs have started-Building slow down

no surprises then? seems like it is becoming a reality
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Old Nov 1st 2008, 2:22 pm
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Default Re: Pay offs have started-Building slow down

Originally Posted by Jeeper View Post
Can confirm the same with a 'rather large' development.
Are all these slow downs associated with a certain Dubai World Developer beginning with "N" ?

A little birdie tell me that their slow down is due to (or partly due to) a Dhs20bn shortfall.
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Old Nov 1st 2008, 2:51 pm
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Default Re: Pay offs have started-Building slow down

No shit??? Is Abu D showing signs of slowing down too, or is it just DBX??

There's a lot of media coverage on the recession here in the UK but little sign that people are tightening their belts yet - restaurants, shops, bars and clubs still heaving at the w/end although there was talk on CH4 that people will soon start feeling the fallout of the banking collapse & tax burden...
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Old Nov 1st 2008, 3:31 pm
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Default Re: Pay offs have started-Building slow down

Originally Posted by matthew.lewis2 View Post
Are all these slow downs associated with a certain Dubai World Developer beginning with "N" ?

A little birdie tell me that their slow down is due to (or partly due to) a Dhs20bn shortfall.
The one I meant starts with an E.....they do the tallest something or other....
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Old Nov 1st 2008, 4:58 pm
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Default Re: Pay offs have started-Building slow down

but its also happening with n apparently.
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Old Nov 1st 2008, 6:15 pm
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Default Re: Pay offs have started-Building slow down

Originally Posted by busybee2 View Post
but its also happening with n apparently.
Has been happening with S for a while now... "How you want it, where you want it..."
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Old Nov 1st 2008, 6:15 pm
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Default Re: Pay offs have started-Building slow down

Originally Posted by Confucius View Post
Has been happening with S for a while now... "How you want it, where you want it..."
The only one remaining now is the D...
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Old Nov 2nd 2008, 2:39 pm
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Default Re: Pay offs have started-Building slow down

The developers are not the ones slowing down the construction market its the banks, they are not realising interim funds to continue projects


This will have a massive impact on expat employment in Dubai as consultants, contractors are prevented from proceeding as payments will not be forthcoming.
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Old Nov 2nd 2008, 4:02 pm
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Default Re: Pay offs have started-Building slow down

An architect friend of mine in one of the larger practices around here just confided that they're now having trouble collecting payment from the developers. Says this has never happened before, and now all of a sudden developers are coming up with excuses for delaying payments.

Originally Posted by Desert Rat View Post
The developers are not the ones slowing down the construction market its the banks, they are not realising interim funds to continue projects


This will have a massive impact on expat employment in Dubai as consultants, contractors are prevented from proceeding as payments will not be forthcoming.
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Old Nov 2nd 2008, 6:16 pm
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Default Re: Pay offs have started-Building slow down

Originally Posted by Ethos83 View Post
An architect friend of mine in one of the larger practices around here just confided that they're now having trouble collecting payment from the developers. Says this has never happened before, and now all of a sudden developers are coming up with excuses for delaying payments.
It's always been difficult getting payment from developers.
and it's only going to get worse methinks.
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Old Nov 3rd 2008, 3:02 am
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Default Re: Pay offs have started-Building slow down

Originally Posted by Jeeper View Post
It's always been difficult getting payment from developers.
and it's only going to get worse methinks.
Yes I think we could be in for a rocky ride for the next year or so, but then as the economy starts to gather momentum again new projects materialize as well as old ones getting the go ahead and everyones wages rise but expats have gone elsewhere looking for work wherever they can and then you wont get people back to the desert as they realise there is life elsewhere with probably less money but of course lower rents and cost of living in general.
The company I work for got everyone together around 3 weeks ago and gave us the old cliche "don't worry we have loads of work, your jobs are safe" isn't that what happens before a football manager gets the boot?
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