Godwin Austen Johnson has 190 staff working across the Middle East. This year the company is involved with a raft of schemes in the UAE including: Arabian Hills, Al Bait Sharjah, Al Wathba Desert Resort, Fortes School, Aracadia Preparatory School, Lady Bird Nursery, and Emirates International School.
Nathan Cartwright, head of MEP, associate partner, says the market is uncertain.
“It has been reported that projects are being scaled back or on hold by some developers, which can of course impact our business from a resource perspective and a financial perspective. Managing resources against revised programmes and cash flow forecasts will be critical as clients hold on to their money for longer.
“Regional unrest continues to have its impact on developments; in particular we have seen areas of Egypt, formerly tourist destinations, becoming ghost towns due to travel bans imposed by some airlines. This sharp slump in tourism raises the risk level for investors and developers. This is likely to impact on the firm’s efforts to diversify its business into other regional markets.”