Contractors attending the MEED Construction Leadership Summit in Dubai expect to see work continue to be awarded this year, but raised concerns that contracts could slow down next year.

Opinions differed on how long any slowdown might last for contractors. David Welch, region president of Bechtel, said it couold be anywhere between two and five years.

But speaking to consultants on the sidelines of the Summit, they were quietly confident about the prospects for new awards, certainly for Dubai, and predicted work would begin to pick up sooner.

Simon Moon, regional CEO of Atkins, said he was “cautiously optimistic” about the prospects for the rest of the year. However, for consultants, contract awards on a project come far ahead of those made to contractors.

Cash flow was certainly seen as an issue among contractors and consultants alike though. More projects are coming to market where little advance payment is being made.

Pierre Sironval, managing director of Six Construct, said issuing bonds could resolve the issue, helping to keep balance sheets positive on projects.