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Why rental is the most undervalued strategy for Australia’s construction market

25.08.2023 | Press
Fuelled by a flurry on inbound investments, we take a look at how material rental is just one of the ways developers and contractors are optimising profits as Australia’s construction industry booms.

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The future of Australia’s construction market is bright. According to recent data, forecasts anticipate a CAGR of 5.48 per cent between 2023 – 2028, yielding a total market value of $213.31bn. Spurred by a swell of foreign direct investment, technological innovation, and an increasing demand for prefabricated buildings, the nation is now backlogged with an extensive pipeline of residential and commercial projects, which is expected to carry the industry through a full year. Yet in spite of this positive sentiment, construction remains an industry with extremely tight margins, meaning an even greater emphasis on streamlining costs while sourcing innovative solutions as a way of saving time and money, while upholding quality and safety.

At Doka Australia and subsidiary, Lubeca, our teams have been vocal advocates for leveraging innovation in order to achieve these benefits, most notably on several of the country’s CBD high-rises including the Aurora Melbourne Central and the Quay Quarter Tower, Sydney. Thanks to our increasingly sophisticated range of self-climbing solutions, as well as devices such as Concremote, we’ve been able to significantly accelerate the speed and quality of projects, while enhancing quality and safety on site. Today, however, with increasing material costs combined with widespread inflation, understanding the best option between purchase and rental is an essential part of the decision-making process, particularly for main contractors keen to keep costs down.

In support of these changing trends, Doka fine-tuned its offering earlier in the year to ensure the best possible value for customers, which has proven to be a highly successful model; particularly for those who are committed to our time-saving products and systems. Starting with the obvious, as with any rental model you immediately mitigate any major cash outflows in order to cover your project requirements, however, with Doka you gain the agility to increase or decrease your spec on an ad hoc basis. This means greater control should your project change or be impacted by other unforeseen delays or third-party issues. Additionally, Doka provides the option of a structured contract, giving you a fixed cost for the services provided. As part of our technical added value, our rental products are also provided with complete engineering designs, which cater to the specific requirements of your project, also covering quality checks, compliance, and full maintenance. Depending on the footprint of your site, Doka’s rental packages also mean no requirement for storage or maintenance.

Finally, as part of our wider commitment to sustainability, Doka’s Product Carbon Footprint, which was completed last year provides information on over 6,000 products, giving you the control to make more informed decision about the materials you use, enabling companies to keep a more accurate track on their environmental commitments.

While there is still considerable value to buying under the right circumstances, today’s fast-paced industry ultimately means that a faster, leaner project that comes with a substantial level of value will always support better outcomes, particularly when it comes to the bottom line.

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