Hamilton Project Management (HPM), a distinguished Gulf project management company, has recently announced that it has achieved 400 per cent growth in operations during the previous two years. The company attributes this growth to the increasing demand for managed property and project services in a real estate market characterised by refined investor demands and unanticipated price escalation.
Since 2005, the Dubai-based company has added more than AED 3 billion in cost of projects under contract to its operations portfolio, as an increasing number of developers employ project management firms to ensure timely, cost-effective and optimum quality projects. Twenty additional professional engineers have recently been hired by HPM, as the company continues to expand its presence in the hospitality, leisure, residential and corporate industries.
“Project management has become an essential part of real estate transactions, as price, timing and quality are three central tenets that determine the success of a project. While investors are mainly concerned with buying the best quality projects on the promised date, developers want to gain investor trust through a low budget and maximum returns. It is our job to optimise this combination,” said Namir Shaffu, Managing Director, HPM.
“With the UAE witnessing such large volumes of real estate construction, project management will only become more popular and we are eyeing a similar growth pattern during the next two years as well,” Shaffu added.
According to a recent report, delays in property developments in Dubai raised the average rent for apartments by as much as 18 per cent in the first quarter of 2007, which also resulted in only 14,000 new housing units introduced onto Dubai’s real estate market in 2006 – 26,000 less than expected. As a result, many project management firms are witnessing unprecedented growth, as they become more involved in the region’s booming construction sector to help make projects meet the expectations of both investors and developers.
In this context, HPM has accumulated a portfolio of high-profile projects across myriad industries, and is currently working on 20 projects distributed throughout the UAE, Bahrain and Qatar. Services offered by HPM include project development and management; consultancy; design; value engineering and design appraisal; contractor selection; contract management; cost consultancy; among others.
Hamilton Project Management was established in Dubai more than 10 years ago and is staffed by highly qualified engineers that combine superior engineering standards with local and international experience in project management, construction and design consultancy.
“We are supported by solid experience, professionalism, dedication and vast knowledge of the local and regional markets, which means that a lot of our contracts are sourced from our regular clients. We are extremely happy with our growth to-date, and we look forward to maximising the potential within the industry to create a new set of standards for project management,” Shaffu concluded.
