The United Arab Emirates has entered the financial crisis in an exceptional strong manner because of their strong financial subject depending on the oil exports and the small population of the country. The main accomplishment taken to absorb the crisis shock was relaxing monetary policies, providing capitals, and guaranteeing deposits in international financial institutes. However, there was a very blue decline in the real estate industry in Dubai, which highly affected the economy. Therefore the contractors and construction sector was highly effected together with financial services sector.
Small midpoint size Enterprises SMEs is a very vital category in United Arab Emirates economy; it consists of 85% of UAE business sectores. The SMEs provides the biggest job creations and is the backbone of business growth in the country. The global financial crisis has affected gravely SMEs, that they have attended to many different approaches to maintain their macrocosm in the market.
In the construction industry, not only universe the biggest industry sector, it plays a very important role in supporting other industries like manufacturing industry, and real estate so they depend on each other for their growth and economic development.
In UAE, and precisely talking about construction contractors, the contract companies are categorized as private, first, second, third, forth, and fifth. This system is used to discipline each contracting company depending on the technical power and capital on the size of projects they can work on. In our project we are looking into small and medium sized contracting companies which are categories third, forth, and fifth. Details of the conditions and requirements of the companies are listed in (table 1).
course of study Classification ConditionsProject Value for Participation
Financial Conditions
(Capital Value & Equipments) skillful Conditions
(Permanent Technical Staff)Experience
( Completed Projects...If you want to get a intact essay, order it on our website: Orderessay
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