The construction and property development sector operates within long project cycles, tight margins and an ever-shifting economic environment. Outcomes are rarely shaped by a single decision or moment in time. They are influenced by market conditions, regulatory settings, funding structures and the collective actions of multiple stakeholders over years rather than months.

Over more than 25 years in the industry, Farnoud Erfanian-Nozar has observed firsthand how periods of growth are often followed by contraction, and how volatility can place significant pressure on even well-established projects and businesses.

Recent years, in particular, have highlighted structural challenges across the sector. Rising construction costs, labour constraints, changes to lending conditions and supply chain disruption have contributed to an increase in disputes, restructures and insolvencies across the market. These outcomes are not isolated incidents, but part of broader industry cycles that affect contractors, developers, consultants and financiers alike.

From a leadership perspective, such conditions reinforce the importance of governance, risk management and measured decision-making. Projects operating under pressure demand calm oversight, clear communication and an understanding that commercial complexity is often simplified when viewed from the outside.

Experience has shown that responsible leadership in construction is not defined solely by expansion or growth, but by the ability to navigate difficult periods with accountability and professionalism. This includes recognising when market conditions change, when assumptions no longer hold, and when difficult decisions must be made in the interests of stakeholders.

Just as importantly, it requires an appreciation for due process. Commercial disputes, restructures and business failures are rarely black and white. They unfold within contractual frameworks and legal processes designed to ensure fairness, transparency and resolution based on facts rather than perception.

This perspective now informs Farnoud’s broader industry commentary — one shaped less by individual projects or outcomes, and more by the lessons drawn from decades of operating within a high-risk, highly scrutinised environment.

In an industry where public narratives can often oversimplify complex commercial realities, experience remains one of the most valuable assets a leader can bring to the table.