A general contractor can be working on projects from $2mln to $100mln+ in value. No matter the size of project, the contractor will need to select from thousands of bidding companies to eventually hire several subcontractors and even suppliers. Whilst the majority of time, price is a large deciding factor, there are other variables that may decide if you are successful in winning future bids.
Technology means that contractors are able to compare incoming bids quicker and more efficiently than before. When faced with the question, why should you be paid more than your competitors, you need to be able to point to something specific.
Figures released by the Dubai Economic Department for Q1 2015 Dubai real estate transactions:
Total value = $17.4 billion USD in 11,603 transactions. The average transactional value works out as $1.5 million USD.
If we split that into Arabs vs Non Arabs, the split by number of transactions is pretty even, with Arabs accounting for 53% and Non Arabs accounting for 47%.
The average transactional value split between Arabs and Non Arabs however reveals that Arabs spend almost 4 times as much as a Non Arab per real estate transaction, ($2.3 million USD vs $600,000 USD respectively).
Arabs account for 81% of the total value of Real Estate transactions, with Non Arabs accounting for just 19%.
ProTenders: 2015 Global Construction Survey Report Released
Research shows new technology an important factor for the construction industry to remain competitive
Dubai, U.A.E – 20th April 2015– ProTenders.com, the secure, paper-free online bidding platform for the construction industry, today released their 2015 annual global construction survey.
The report provides insights into the construction sectors pain points, including ways in which firms explores new business, enters a tendering and bidding process and identifies the right construction partner. More than 500 regional and international construction businesses were surveyed.
According to Karim Helal, Co-Founder and CEO of ProTenders.com, “The 2015 Global Construction survey highlights the critical role technology plays in the growth and stability of businesses operating in today’s competitive marketplace. The Middle East construction industry is growing at a fast pace and the adoption of new technology stands out as an important factor for businesses to remain competitive.’’