BUILDING TOMORROW’S CHINA

Mr Eric Lau, Jebsen Industrial’s Head of Market & Portfolio Development, shares his insights on the future of the building products sector.

 

As customer needs and expectations change and competition stiffens, Mr Eric Lau, Jebsen Industrial’s Head of Market & Portfolio Development, shares how the company is preparing itself to stay ahead in the building products sector. 

 

What’s your take on the current market situation in China?

China’s construction sector is undergoing a structural slowdown but this does not change the fact that we are talking about an enormous market with a huge population and many unmet needs. Business opportunities are still substantial as China remains one of the key drivers in the global construction industry. We expect the building products sector to make a recovery in the years leading up to 2030.

 

How do you see the building products market developing in the future?

China’s rapidly aging population, emergence of a new consumer class and continued urbanization are all likely to spur long-term market growth. The country’s transition to a consumer- and services-driven economy, coupled with the abolition of its one-child policy, will also create growth opportunities in the healthcare, education, retail and other consumer end-markets. We foresee that more project owners and architects in China will be seeking customized interior fitting-out solutions that are backed up by high level of technical competency and imported building products with innovative design and excellent performance.

 

Can you tell us about your target market segments?

We are making significant moves to open up new business opportunities in the private sector, especially in hospitality, retail and commercial offices. Our recent wins in China included a massive renovation project for The Peninsula Beijing, where we were tasked to provide a customized ironmongery solution and hand pick a hardware package. We have also been appointed to supply water-saving sanitary sensor products and accessories to the premium shopping complex WF Central in the Wangfujing district of Beijing.

 

In Hong Kong, we are seeing an uptrend in landlords investing in office renovations to attract new tenants or enhance space efficiency. Our recent completed renovation projects included landmark buildings in Central and Cityplaza Three in Taikoo, Hong Kong.

 

How does Jebsen Industrial differentiate itself in such a market?

Our competitive advantage lies in our value added products, services and solutions. Customers now expect greater value and higher efficiency from their service providers. They are looking for a partner to provide solutions that are able to streamline workflows and reduce costs for them while providing end-to-end support. This is something that we excel at.

 

Another key differentiator is our track record in sustainable building products. To support the sustainability movement, we recently sponsored the “REAVEAL 2: +-x÷ For the City. For the Community.” exhibition, organised by Hong Kong institute of Architects.

 

We are also constantly growing our principal network to stay ahead of the competition. We have recently entered into a partnership with Allegion, a global pioneer in safety and security solutions, and intend to continue enhancing our portfolio.

 

 

How else is Jebsen Industrial preparing for the future?

To create sustainable value for our stakeholders, it is important that we build the internal capabilities to remain agile and adaptable. Undoubtedly, O2O (online-to-offline and offline-to-online) commerce and IoT (Internet of Things) technology will dominate the market in the coming years. We are ready to embrace new technologies to capture new business opportunities and deliver significant benefits to our customers and partners. We are also exploring innovative ways to develop the brick-and-mortar business of building products. With organizational foresight and a united, high-performing team, we are confident for the future.  


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