Developers will be 'choosy' amidst uncertainties
Ahmed Alkhoshaibi, the CEO of KBW Investments, talks to CWO about how client servicing can help construction outfits impress clients despite economic slowdowns
Developers may become highly selective amidst market slowdowns, the CEO of KBW Investments told ConstructionWeekOnline.
Ahmed Alkhoshaibi said this tendency creates an opportunity for construction firms that offer high-quality systems and services.
He added: "Often, what generates solid referrals is your business’s impeccable level of client servicing, and when times are tough, only those with a strong track record of service excellence survive.
"If your company is known for swift client response time, then this is your time for business development, as [clients] have the luxury of being very choosy during economic uncertainty."
Alkhoshaibi also said construction firms must remember the impact communication and market grapevine can have on their brand image.
"If your company is known to employee the best engineers, product managers, and so on, then you are nicely set to snap up the opportunity that economic challenges provide.
"Word travels fast in this sector; developers, contractors, and suppliers share insider knowledge.
"If that knowledge includes facts like the idea that you have spared no expense to employ the very best, then your reputation precedes you and pitching for new projects becomes much easier – doors will quickly open," he added.
KBW is an investment firm with interests in the automation, construction, engineering, and hospitality sectors.
Its project portfolio includes the UAE's Majlis Grand Mercure Sharjah Resort and Spa, launched in May 2015.
The firm is owned by Saudi Arabia's HRH Prince Khaled bin Alwaleed.