The Middle East continues to demonstrate unprecedented growth with project activity forecast to increase across the region. Those already operating in the region are experiencing an unparalleled level of market intensity with high levels of competition and challenges on capabilities.  New entrants are facing significant pressure to capture market share in a region where access to information on which to base those decisions is limited.

Some industry leaders are questioning when will the downturn come and what will happen then?

Maybe the bigger question that should be asked is what strategy, competencies and knowledge capabilities are you putting in place so that whatever happens to the market you are in the “best condition” to achieve sustainable growth.

What are the market signals? 

The market for both owners and service providers once again proves to be a challenging one. Price escalation is fast becoming the norm with ever increasing impacts on resources in a market characterised by an overabundance of projects.  Procurement of materials and special equipment requires significant lead times and the ability to pre-empt market / owner requirements before they are even conceived.

What is the answer?
 
Whatever your business strategy is today, it will only be successful if the following is addressed:

     Developing strategies to gain market share in core markets, including a thoughtful M&A strategy
     Developing new business models to exploit new, high growth markets
     Aligning professional business development with corporate strategy
     Managing performance of underlying value drivers
     Building and nurturing competencies that generate long-term success
     Acquiring and developing talent in a market that is resource constrained and expecting higher performance