November 2010 | Steel Tracker
Construction Week’s annual salary survey shows disparate picture in GCC, but hints at construction renewal
With 25% of all cranes reputed to have been in use in Dubai in 2008, it is no wonder that last year’s weakness in the area’s construction arena would have a significant effect on global construction. Construction Week’s annual survey shows that the past 12 months have been difficult in the GCC, but the picture may be changing. Positive news for the global steel market and for aluminium demand.
At present construction workers, as with many workers, are often content merely to be in work. The survey shows that those in jobs are working longer hours, with no pay rises and even pay cuts.
Figures of the scale of drop-off in construction activity vary. It is also worth remembering that except for a precipitous drop in Dubai, most of the GCC remained relatively strong. Only the size of Dubai’s construction bubble that made the...
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