This Executive has a Dream to Slash Housing Prices the same way Henry Ford did with Cars
Mohamed Elweshahy is the MEP Director of Shomoul Holding, managing the electro-mechanical works in two of the largest mixed-use retail and hospitality development projects ever built in Saudi Arabia.
He is a passionate advocate of innovation, believes technology and sustainability go hand in hand, and thinks that the current COVID19 crisis will reverse some long-established trends in the construction industry such as mega-cities and low-space housing.
Mohamed was recently hosted on the Building Leaders podcast. During his exclusive interview, he shared with us deep insights on the future of the industry, secrets to building great teams, and many more topics.
Get comfortable with discomfort
At the age of 26, Mohamed was already a project manager for a multi-million dollar project in Egypt. He knows this was unusual and feels grateful to his first boss who has thrown him into deep waters early on in his career. His story of swimming in the deep continued throughout his life as he constantly moved out of his comfort zone and into more and more demanding roles. He handled mega projects in construction from the side of the contractor, the consultant, and now the owner.
Reading is the best gift you can give to your children
During his teenage years, Mohammed had free access to read an unlimited amount of books from the largest bookstore in his home city. This was an ingenious gift from his father who created an all-access account at the bookstore for him. Since then, books have been a constant companion in his life and helped him learn how to embrace different perspectives at the same time, an attribute he actively looks for in candidates wanting to join his team.
If you hire less you will fire less
When hiring candidates, it’s common for managers to focus primarily on credentials, but Mohamed prefers to play the long game. As he says, to build an A+ team you need to look for the right attitude in a candidate first. “Do not hire the best candidate today, envision the best candidate in a year’s time”, says Mohamed, who goes for potential rather than hard skills.
When asked about firing people, he smiles cheekily. “Nobody likes to fire people”, Mohamed explains, If you hire good people, motivate them, and empower them, they will “move the earth for you”. Another tip is to hire conservatively. Being understaffed is a plus when a crisis such as this one comes along, he added.
Focus on building relationships, not just structures
Through his diverse experience, Mohamed has seen many capable managers fail due to a lack of Emotional Intelligence. As he explains, when it comes to long-term success, it is vital to be able to relate to others, motivate your peers, and work within a team effectively. Especially in the age of AI, emotional intelligence is a critical human component that makes you stand out.
Housing prices are too high, and they can drop by at least 50%
Mohamed’s dream for construction is to slash house prices in the same way Henry Ford did with car prices in the early 20s (car prices dropped 60% within 15 years). As Mohamed describes, if cars were built the same way today as they were 100 years ago, most of us would not be able to afford one.
Despite construction being one of the least productive industries in the world, Mohamed is a practical optimist. As he asserts, we need to build houses the same way we build cars, on a factory assembly line. “The technology is here to transform the industry. It is about time we start building the right projects, in the places, in the right way, and for the right people.”
For our full talk with Mohamed listen to the podcast here:
Want to get in touch with Mohamed? Do so here.
