Given his position as global real estate, hospitality, and construction leader at accounting giant EY, Mark Grinis, based out of the company’s Times Square office in New York, has interesting insights to offer about the dynamics currently shaping the global property market.
In the latest episode of Construction Week Viewpoint, Grinis sits down with Construction Week’s senior reporter Jack Ball, to discuss how the Mena and GCC regions have a competitive advantage in building cities fit for the 21st century.
The role of the private sector in the region’s growth trajectory, particularly from the global pool of private equity capital, is also discussed by Grinis, who points out that 30-40% of the world's private equity capital is concentrated with the world's top 10 institutional investors.
“Capital today needs to be respected and managed incredibly responsibly," he says in this episode of Construction Week's podcast.
"When I think about where capital flows, [it comes down to] where it’s treated well – where the exchange rate and environment mean you can [facilitate cash flow] in a reasonable way, and where there are platforms [...] and operating partners that are local and have the infrastructure to manage and maintain [the investment].”
Check out the full episode here and please share it if you enjoyed it. Construction Week Viewpoint is published every Monday at midday.
Past episodes have welcomed expert guests such as Rizwan Sajan, founder of Dubai-headquartered building giant Danube Group, and Saaed Al Abbar, managing director of homegrown Emirati engineering consultancy AESG and chairman of the Emirates Green Building Council.
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To volunteer yourself or a colleague as a guest speaker on Construction Week Viewpoint, please contact Jack Ball.