The upcoming Arabian World Construction Summit (AWCS) will discuss the changing face of the region’s construction industry in light of the global economic downturn, said the organisers.

The summit, organised by Meed, a key business intelligence provider in the Middle East, will run from February 9 to 11 at the Emirates Palace Hotel.

The event is expected to bring together over 500 delegates and 60 industry experts who will deliberate on the key factors that will help the industry tide over the toughest crisis in more than 10 years.

Meed editor Richard Thompson said the construction industry in the region has enjoyed dynamic growth over the past few years but it is now witnessing the demand stagnating for the first time in a decade following the global economic situation.

'This is compounded by master developers placing projects on hold to focus more on riding out the current conditions and meeting tight deadlines for developments already underway,' he added.

Key industry leaders who will lead panel discussions at AWCS 2009 include Abdul Majeed Al Fahim, chairman of Pearl Dubai, Ali H. Kolaghassi, vice-president – Corporate Business Development with Saudi Oger, Sami Asad, chief operating officer of Aldar Properties, and Mounir D. Haider, CEO of Sorouh Real Estate.

In addition to market and economy-oriented subjects, industry leaders will look at many innovative projects around the region for discussion.

The projects include Green Mountain Project & Waterfront Scheme in Libya, DIFC Lighthouse Tower, Qatar-Bahrain Causeway, Masdar City and The Dynamic Tower in Dubai.

On the third day, delegates will be taken to the Al Raha Beach development, just outside Abu Dhabi, for an exclusive site visit, Thompson added.-TradeArabia News Service