The firm says it has established a highly qualified CM team, which is being led by Gary Tracey as Global Partner and Head of Cost Management
AESG has launched cost management (CM) consultancy services in response to rising inflation, supply chain disruptions and the growing Net Zero agenda. According to the firm, the line of services optimises cost efficiency and minimises risk for construction projects ranging from new developments and asset refurbishments to financial feasibility studies.
Decarbonisation efforts under the lens of cost management expertise ensures an increased value proposition, setting out a path for financially optimised success in the Net Zero economy. Research shows that a staggering number of construction projects experience budget overruns, the company said.
“We’re witnessing an unprecedented shift in the regional construction industry with the announcement of several iconic developments and giga-projects. Ensuring these ambitious undertakings can be executed within budget will ensure their timely progress and completion and pave the way for further success. Moreover, cost management can play a key role in enabling organisations to achieve their net-zero ambitions, which in turn grants them easier access to working capital,” said Saeed Al Abbar, CEO at AESG.
In July 2022, AESG said it had achieved Fire and Life Safety certification from Saudi Civil Defense and, in August 2022, the firm said it would push smart buildings forward with WiredScore and SmartScore accreditation.
The new CM offering is said to further extend AESG’s multidisciplinary expertise in sustainable design, fire engineering, façade engineering, acoustics, environmental consultancy, building commissioning and digital asset management and strategy and advisory.
Al Abbar noted, “With vast experience, gained from working on hundreds of iconic developments, our multi-disciplinary team has unparalleled insight into the multitude of factors that directly and indirectly impact overall project costs and timelines. This enables them to expertly guide clients in realising the maximum value for their money from the outset.”
To deliver these service offerings effectively, the company says it has established a highly qualified CM team, and appointed 18-year industry veteran Gary Tracey as Global Partner and Head of Cost Management. With a Degree in Construction Economics and Management, Estidama Pearl Qualified Professional (PQP) and MRICS qualifications, Gary adds value to the development equation through his unique blend of construction knowledge and local market understanding, the company stated.
In early September 2022, Katarina Uherova Hasbani, Partner and Global Director of Strategy and Advisory at AESG said that, with time running out in the climate change battle, all sectors must work together to ensure a brighter, safer future.
Tracey remarked, “While cost overruns can be common in the construction industry, the reality is that many of the underlying factors scale exponentially, so effectively identifying and mitigating these, yields significant positive impact.”
He concluded, “In my 15 years in the region, I have gained a deep understanding of these challenges across a wide range of project types. I am enthused by the prospect of leading this highly qualified team in delivering this service to the Middle East market at this critical juncture when developers are undertaking highly sustainable, mega and giga-projects that will secure a top position for the region on the global stage.”