Construction World March 2023

MARKETPLACE

LOCAL CONSTRUCTION PLAYER REMAINS RESILIENT DESPITE MAJOR INDUSTRY CHALLENGES The construction industry endured a difficult year in 2022, with an extended downtick following on from the COVID pandemic, which saw many businesses meet their demise. Those that survived have been struggling to keep their doors open, with some publicly listed firms reporting as much as a 36% decline in share prices over five years.

D espite this challenging environment, GVK-Siya Zama, one of the largest privately owned construction companies in the country, enjoyed an increase in orders and recorded four consecutive years of growth. CEO, Eben Meyburgh (pictured) , attributes these successes to effective planning and project management, entrepreneurial agility

offering competitive packages,” explains Meyburgh. GVK’s project pipeline The redevelopment of Cape Town Station into a mixed-used space for students, and construction of a mega Eastern Cape

and an ongoing mission to be the employer of choice in the industry. “We delivered on some notable projects and secured several landmark contracts. In addition, our robust cash management philosophy is underpinned by our commitment to looking after our people holistically and prioritising their physical and mental wellbeing, while

“The brain drain and emigration of skilled individuals is a growing threat facing local businesses, including ours.”

10 CONSTRUCTION WORLD MARCH 2023