Introduction
There are various opportunities to start an engineering technologist business. However, it is necessary to choose the most promising field. The real estate market in London has been expanding at a high rate for the last decade. Engineer technologists can apply their knowledge to build and design services. The main goals of this paper are to analyze the current real estate market and identify the main professional bodies associated with the built environment in the UK.
Chartered Association of Building Engineers
The Chartered Association of Building Engineers (CABE) is a professional organization that specializes in building engineering. It has several branches in different countries including the United Kingdom. The association was established almost 100 years ago (The CABE n.d.). It provided expertise in architecture and geodesy. In the 1990s, it turned into the Association of Building Engineers, the predecessor of the CABE.
This organization has membership from various agencies and companies throughout the world. The constant development of professional skills is a must for members. There are several main designations in the CABE structure, such as Associate Members, Graduate Members, and Registered Chartered Members.
Rules of Professional Conduct include major ethic norms and policies of the CABE. All members have to perform in accordance with technical and service standards, implement procedures to train staff, and ensure that all operations are covered by sufficient insurance. Also, the rules require treating all cooperating members fairly and distribute professional duties with “integrity, impartiality and objectivity” (Rules of Professional Conduct n.d.). In addition, the rules describe responsibility and public protection. All members have to evaluate probable risks and clearly show their position and responsibilities in the company.
The CABE established various continuing professional development (CPD) courses for its employees, such as fire safety, timber frame developments, and effective design risk management. The CABE’s policy regarding this matter states that specialists working in design and risk management must be skillful and experienced. Also, they need to keep up with relevant technical literature and innovations.
Association for Project Safety
It is an organization that focuses on the quality of construction and safety risk management. A well-designed system is made up of regional committees, operational staff, council, and a board of directors. The Association for Project Safety (APS) collaborates with various companies throughout the world.
The association was founded in the middle of the 1990s. It is a membership organization. Each member has to undertake CPD programs to update skills and knowledge every year. The main membership’s purpose is to assist specialists in reaching higher standards in the area of construction health and safety risk management.
The APS designed the Code of Professional Conduct whose main aim is to ensure confidence and reliance on the work of every member. This paper requires great technical competence and integrity from the association’s members. The basic principles of the Code of Professional Conduct highlight the necessity to perform in an honest manner and “in compliance with current legal and statutory requirements” (Code of Professional Conduct n.d.). Also, members of the APS should notify the association in case of a “significant breach of the Code of Conduct” (Code of Professional Conduct n.d.). Failure to inform the association of such violations could result in disciplinary sanctions.
The APS continuously improves and develops the design and construction of health and safety risk management. In order to accomplish it, the association sets new standards, provides guidance, educates, and collaborates with partners. The APS designed a new four-year-period development strategy aimed to change organizational culture and operating environment.
British Institute of Facilities Management
The British Institute of Facilities Management (BIFM) is an association specializing in a facilities management field. The BIFM has formed 25 years ago, and it has more than 12,000 members (Facilities management introduction n.d.). The BIFM performs under the supervision of the Global Facility Management Association.
Facilities management focuses on integrating individuals and processes to improve the level of life and the effectiveness of business. Well-established facilities management combines resources and activities to enhance the performance of an organization.
The BIFM works with a growing facilities management sector that includes various departments, professional constructors, and service companies. The BIFM provides a variety of CPD activities to prepare competent professionals. The process of CPD is aimed to help specialists identify their goals and areas for development. The CPD programs in the BIFM assist in planning the way for improvement. They give new opportunities and enhance the satisfaction of trainees. These strategies are implemented in different ways. For example, members of the BIFM visited the Boeing Flight Services where a senior manager gave them a tour of the company’s main facilities and presented innovative training products.
The Code of Professional Conduct was designed for compliance by all members of the BIFM. Members have to perform in a professional manner and avoid behaviors that might bring the BIFM into disrepute. Members should not use their membership or the name of BIFM to make a profit. Members have to keep up with new technical evolutions and technological skills and share this knowledge with their co-workers to benefit the company.
Key Competitors
There are many design-build constructors in London. However, only several companies are highly competitive. The first company is the Engineering Design Consults (EDC). This is a progressive consulting engineering firm. It specializes in several areas. These are MEP and building information modeling design, energy and fire engineering, and design-build systems. Another important organization is Bischell. This company provides design and build services for commercial and residential projects (A design and build company built on reputation n.d.). The third company is called London Build & Design.
It offers high-quality construction, renovation, and maintenance services. Skansen is another design and builds a company located in London. This firm focuses on office and commercial property (Office and commercial property design & build contractors in London n.d.). Finally, Ashville is one of the leading design and build companies in London. It offers solutions for all residential and commercial projects. These companies will be the major competitors for my future enterprise. These are big organizations hiring only highly skilled and experienced specialists. They are well-known in London and across England. The main specialization of my business is building and design services. Hence, they take a very competitive position relating to my business.
EDC completed several outstanding designs and build projects. However, it is worth mentioning some ongoing works. Killarney Mhru is a new mental health hospital. EDC has already completed MEP design (Killarney Mhru 2017). HQ Horgan’s Quay is a big project that includes an office block and hotel. EDC will design all site utilities and form part of the main electrical system. These two projects will cost over €170 million.
Bischell completed projects for the Birkbeck University of London, Royal Mail, Southbank Centre, and Trinity College London. This company always provides information about awarded contracts to their clients. Hence, they can see examples of the company’s accomplishments. Every client gets a personal manager who supervises the whole process.
London Build & Design focuses on refurbishment and reconstruction. It provides several services. These are property design, construction, renovation, and property maintenance service. One of the ongoing projects is the extension of a big old house. Every room is being re-modeled, and several roofs are being replaced (Services n.d.). Another project is the reconstruction of a loft to make it bigger and higher.
Some of Skansen’s clients are American Express, Hospital Chelsey, UNICEF, Intercontinental bank, and Royal Mail Group. The company carries out post-construction. The company guides its customers throughout the whole process. Each project offers unique approaches and innovative techniques.
Ashville provides a full range of services from refurbishment and renovation to building construction. The most striking project is a luxury hotel on the Caribbean island of Saint Lucia (Design and build constructor n.d.). This project included the design of a landscape as well. Ashville carries out all associated works like planning permission, building regulation, and authority approval.
Client Group
The targeting group will change over time. First, the business should be focused on renovation and reconstruction. Hence, the initial clients will be regular people that live in old buildings and houses. Afterward, the company will expand to target a bigger market. The final goal of my venture is to establish a building construction company. Therefore, it will attract another type of customer that needs to buy new real estate. To maintain new clients, it is necessary to employ modern management and leadership techniques that are based on concepts of total quality management and business excellence like Customer Focus and Open Work Environments.
Types of Market Research Surveys
Several well-known types of market research surveys are carried out to get the customer’s feedback. The first type is surveys to measure customer satisfaction and expectations. Such surveys demonstrate the effectiveness of the performance of a company and help to track staff attitudes.
The second type determines the customs of the majority of people. This type studies popular trends in society to meet its needs. Another type of survey assesses brand awareness among the population. It helps to determine the position for a specific brand among the competitor’s brands.
Key findings from the London Office Crane Survey are as follows (The London Office Crane survey summer 2017):
- The pace of completions to accelerate further in 2017.
- Survey of contractors predict a consistent rise in workload and anticipate further inflation in tender prices over the next 12 months.
- Demolition levels maintained at 7.9 million sq ft as more schemes prepare for the imminent start.
These findings demonstrate current trends in the London property market. This survey highlights the growing demands for new real estate.
Key findings from the Royal LePage survey (Home prices in London continuing to rise, Royal LePage survey says 2017) demonstrate an increase in residential property prices, which include:
- The aggregate price of a home in the London market rose 11.6 percent to $320,824 in the quarter.
- Looking specifically at two-story homes and bungalows, home prices increased 12.6 percent to $353,832 and 10.7 percent to $265,796, respectively.
- 71 percent of the homes that sold in June, sold for asking price or higher.
Conclusion
In conclusion, the current real estate market situation underlines the necessity to create new companies that provide build and design services. It is important to prepare an elaborate business plan to enter that market. Therefore, further research in this field is crucial to the successful implementation of the mentioned above strategies.
Reference List
A design and build company built on reputation n.d. Web.
Code of Professional Conduct n.d. Web.
Design and build constructor n.d. Web.
Facilities management introduction n.d. Web.
Home prices in London continuing to rise, Royal LePage survey says 2017. Web.
Killarney Mhru 2017. Web.
Office and commercial property design & build contractors in London n.d. Web.
Rules of Professional Conduct n.d. Web.
Services n.d. Web.
The CABE n.d. Web.
The London Office Crane survey summer. 2017. Web.