The MEP sector has good opportunities with several upcoming developments, says Jayant Balan, senior vice president and director of international operations business group at Voltas Limited.
The market continues to offer both opportunities and challenges, Balan told MEP Middle East.
He said: “The bold and visionary approach of leaders in this region continues to offer opportunities, with several new developments being launched and taking shape in quick time.
“One could also safely say that there has been a shake out of sorts within the MEP industry where certain players, including major ones, having over extended themselves, have receded in presence and participation. While we are not immune to the challenges of both the economy and other industry specific challenges, we make conscious efforts to judiciously mix caution with our ambition to maintain and grow our business.”
Balan remarked that the MEP sector has good opportunities with several upcoming developments and with clients and main contractors seeking to partner with reliable players.
“We do believe that that there are a good number of opportunities to keep us busy and allow us to sustain and grow our business,” Balan said.
However, he did admit that there are a lot of uncertainties in the market.
He added: “We continue to live in a world where uncertainty is the norm, and where we need to be constantly prepared to ‘unexpect the expected’. It is not good enough anymore to only ‘expect the unexpected’. Borrowing another term coined by commentators, we need to continue to tread carefully through a VUCA — volatile, uncertain, complex and ambiguous — world.”
To read Balan's entire interview, check out the issue #1210 of MEP Middle East, which will be out in the first week of October 2017.