Of the contractor's £10bn forward order book, a quarter is for Middle East projects including the enormous £20bn, 10 year long Al Raha Beach scheme in Abu Dhabi, where the company is a delivery partner.
“We have been shifting many of our high end capability engineers out to the Middle East," Douglas said.
Forward orders for Europe remain healthy however at £6bn up from £3.4bn for the 2007-8 financial year.
The company shifted out of the residential sector 12 months ago – apart from the 1 Hyde Park project and now has even mix of public and private sector work which should help shield it from any downturn.
Annual results for 2007-8 were turnover up 21.5% to £4.24bn and pretax profit up 86% to £81.2M. The company has cash of £477M on deposit and net cash is £137M.
"We are still intending to grow at around 20% and as the market consolidates we think we will be a consolidator," Douglas said, stressing that the firm would only buy companies with "high quality" earnings potential.