Top 10 tips for construction firms in 2010

Expert advice for ensuring a successful 2010.

7. Transparency is still key

When troubles first hit the industry, everyone involved in the industry jumped on the transparency bandwagon and, should things improve in 2010, it’s important that those calls are not swept under the carpet. An honest, interoperable, transparent industry is a successful industry.
“As we find ourselves in this challenging economic climate, I, among others, have talked about the need for greater transparency, financial reforms, increased support by governments and adopting a ‘time to act’ approach,” says Damac chairman Hussain Sajwani.

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8. Quality counts

The only thing as certain as the fact that 2009 was a terrible year for the industry is the fact that the economy will improve. And the most savvy companies are now making sure they’re ready to be fastest out the blocks when it does. One way of doing that is gaining a reputation for quality.
“With a few building collapses over the past three months, the quality of construction has become a big issue for the DMA. Such happenings cause a lot of damage to the construction sector and real estate market. Who would want to invest here when the quality of construction is suspect?” asks Abu Dhabi DMA’s Matthew Plumbridge.
“In the next two or three years, I’m sure we’ll see a massive increase in the number of dedicated refurbishment companies, as the corners being cut start to come apart – refurbishing is expensive and labour intensive,” adds Al Rajhi’s Wutscher.
“We can compromise a little in price at the moment, but we can never afford to compromise on quality.”