2016 was a year of profound transition for the global construction sector, and among the toughest in BlueLife’s history. The industry continues to face its fair share of challenges, with intense competition coming not only from new projects, but also from the resale of residences delivered since the first IRS Scheme was launched in 2001. Supply is soaring, both locally and internationally, in a way that we continuously need to adjust our offering, and create new differentiating features.
We entered 2017 with strong momentum as we began reaping the benefits of the decisive steps we took. This year, we maintained our strategic focus, patiently applying ourselves to making breakthroughs—all of which translated to measurable growth. Despite the reduction in turnover as compared to the previous year, as a result of the cyclical nature of the land development activities, all the other clusters generated increased revenues.