Al Naboodah Construction Group (ANCG) has significant private sector orders in the pipeline for the first quarter of 2017, the majority being real estate sector clients, the sector which is providing the best opportunities for us.
We did not see a significant decline in the number of tenders issued in 2016 and do not predict a decline in 2017. The biggest challenge in 2017 for the industry will be managing project financing and payment delays.
ANCG has successfully avoided these through careful assessment of the projects we work on, and the financial security of who we partner with. We are extremely selective with RFP participation and diligently ensure the projects we pitch for are financed securely.
Equity partnerships, joint ventures and public private partnerships are a trend we expect to be embraced in the coming years across the industry.
We have implemented innovative and flexible pricing structures with our clients to take account of continuing fluctuations in commodity prices.
In 2017, we will continue to embrace industry best practice in technology with our in-house BIM modelling team and our use of robotics saving time and manpower and creating savings for our clients.
Our heritage is firmly in the UAE, but we will continue with expansion plans in the GCC and East Africa in 2017. We are pleased with the state of our order book for 2017, putting us in a strong position to start the New Year.
