Design and build companies across the UAE must diversify to prosper according to the Leaders in Construction 2014 introductory speech from civil engineer Sameer Daoud.
Daoud, managing director transport and infrastructure, Hyder Consulting Middle East, warned those who refuse to move with the times that they may face extinction.
He said: “It’s about change, agility and a long-term view.
“Dinosaurs were big, huge and strong, but they couldn’t survive, because they were not able to change.”
Daoud admitted there were different ways open to companies looking to change and prosper, including working with the private or public sector and expanding the geographical footprint, branching out into other Middle East countries and internationally.
However, he stressed that standing still in the current climate was not an option.
“What worked yesterday may not work today. The ship that has taken us safely to the shoreline will not be able to take us to the top of the mountain.”
Last month the board of design and engineering firm Hyder Consulting accepted a buyout offer from Dutch engineering group Arcadis.