How is the Project Management sector facing the end of the crisis in Spain?
Firstly, by actively partaking in the recovery of the construction industry and real estate projects of all types, whether it be housing, offices, shopping centers, hotel and industrial / logistic, amongst others; also in several formats, i.e.: new developments or refurbishments. Before the financial crisis, this sector accounted for approximately 20% of Spanish GDP and, as long as our economy remains unchanged, it is clear that part of our GDP continues to be nourished by the construction industry. Project Management is a very powerful catalyst that allows property developers face multiple projects at a time, easing the pressure off their structures as well as having a team of experts and highly qualified employees in several disciplines.
What is the niche market that arises from the new real estate cycle in our country and who are the demanding parties for Project Management services?
We have not identified any significant new niche market. As mentioned previously, Project Management is a catalyst that participates across all areas of the real estate on all formats.
How does the Project Management & Consultancy department contribute to C&W turnover?
In Spain we contribute more than 10% of total turnover, a very high percentage similar to our global contribution figures. Obviously, the department’s objective is to increase this participation as we work across other areas within C&W. The potential for this increase is great and, in recent years, has allowed us to increase the number of employees, projects and clients.
What are the main projects your business area is currently working on?
Within our department we have several business lines oriented to different sectors and clients. If we look at the office sector, we work with both owners and tenants. In relation to the former, we are providing architectural and Project Management services in the refurbishment of a building located at Ribera del Loira street in Madrid. The purpose of this comprehensive refurbishment is to reposition the building converting an outdated building with little attraction for tenants, into a market reference, allowing the landlord to increase both rental levels and value.
We have provided our Project Management services to companies such as Havas Media, Abertis, Manpower or Criteo, to give some examples of different sectors, in the development of their new offices, where we have also collaborated with part of the architecture. Regarding tenants in retail, we are working with a well-known international sports brand in the transformation of its stores throughout Europe. On the property side, we have finished the rehabilitation of a central building in Barcelona allowing a significant increase in its value by having an attractive building, with a new format, for a renowned tenant like Media Markt following its new strategy involving centrally located shops.
What is Project Management’s way to go in order to gain a greater social recognition?
There are several points that I consider to be historical claims of the Project Management sector. The first, and perhaps one of the most important, is that Project Management appears as an important figure in the Organic Building Law and therefore, is a clear and defined actor. A second point could be that the Administration uses these services and, finally, one with greater difficulty in our country, but clearly developed in the northern countries, is that both companies and developers understand the multiplier capacity of this service and consider it as an investment and a guarantee for their projects rather than a cost.
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