The Coronavirus pandemic has drastically affected markets across the globe, halting non-essential activities and severely impacting multiple industries. While entire countries are on lockdown, companies worldwide have come up with innovative solutions to increase productivity, maximize efficiency, upgrade health & safety practices to cope in these unprecedented times.
Although the construction industry in the UAE is operating at a slower pace than usual, contractors across the region are continuing to work on projects and avoid delays. While the productivity of day-to-day activities on project sites are affected, ECC Group’s implementation of BIM and Lean principles in 2018 have proven to be highly successful in these trying times; it is the company’s number one priority to ensure the continuation of projects and support for our Clients.
As a pillar of the UAE construction industry for over 45 years, ECC Group’s consistent approach to invest in innovative technologies and systems, practicing value-engineered principles in projects and ensuring a continuous feedback loop for new methods of improvements have allowed us to function effectively – with minimal disruptions – in this high-tension period. In particular, the implementation of Lean principles has enabled each activity to be performed methodically, to ensure utmost efficiency with the least amount of cost and time wastage.
ECC Group’s conservatism throughout our rich history has prevented us from over-leveraging our assets. Our growth and investments have always been, and continue to be organic, a factor that has allowed us to control and minimize the devastation of the fluctuating market multiple times in the past and also now in the present. We will weather this storm and emerge stronger as a result.
The current market may seem bleak, but a recent report published by the International Monetory Fund (IMF) foresees the UAE market to have a normalized pickup in the first quarter of 2021 with an expected GDP growth of 4.7%* compared to the 1.7% growth in 2018 and 2.2% growth in 2019*. The expected GDP forecast for 2021 and the market’s speedy recovery showcases promise in the country’s future for investors, industries, employers, and residents.