Across all markets, the construction industry is facing real challenges, from rising costs to tight government budgets and a constrained skilled labor pool.

While regions like Queensland and South Australia are seeing momentum from major programs like the Brisbane 2032 Olympic and Paralympic Games and AUKUS, the trilateral partnership between Australia, the United Kingdom and the United States, volumes are contracting in New South Wales and Victoria due to reduced public spending.

The private sector is also grappling with feasibility pressures from cost escalation and regulation.

“These shifts are tough, but they also present an opportunity for the industry to lead on productivity and value,” explains Mark Baker, CEO of BESIX Watpac and Construction, Transport and Logistics Executive of the Year at The CEO Magazine’s 2025 Executive of the Year Awards.

“Success is hinged on proactivity, agility and collaboration, working closely with clients, including the government, to deliver smarter in tighter conditions.”

Most successful era yet

Baker believes BESIX Watpac is ready to rise to the challenge. The Brisbane-based construction company has over 100 years of heritage in Australia and has been part of Belgian contractor BESIX Group since 2018.

Its portfolio of projects span the stadia, health, infrastructure, complex industrial, defense and secure facilities sectors in Australia and New Zealand, and include achievements such as Brisbane’s US$188.8 million Kangaroo Point Bridge and Townsville’s US$206 million Queensland Country Bank Stadium.

Since stepping into the role of CEO in 2021, Baker, who has been with the company for more than 15 years, has helped it navigate one of the toughest market periods, only to emerge stronger, more resilient and crystal clear on the value it delivers.

“We’ve entered our most successful era yet, thanks to strategic leadership and our incredible, passionate team,” he reveals.

“Our workbook is filled with a diverse mix of carefully selected projects where our deep local knowledge and expertise in complex delivery are creating real value, and setting new benchmarks for quality, capability and performance.”

Among them are expansion works at Adelaide Airport and the Deep Maintenance and Modification Facility next to the Royal Australian Air Force base in South Australia.

The BESIX Watpac DNA

Behind that success is the company’s values-driven culture built on excellence, co-creation, respect, unity and passion.

“We talk about having the BESIX Watpac DNA,” Baker explains.

It’s a quality its people embody every day by living and breathing these values, he explains, adding that it is demonstrated through operational excellence, cultural leadership and a deep commitment to driving success for the business.

“This shared DNA drives collaboration, resilience and the forging of strong partnerships that have provided the foundation for our continued success,” he says.

Baker says that throughout the year, individuals and teams who go above and beyond are celebrated through its awards and recognition program.

Foundations for success

Looking ahead, Baker believes productivity remains the key lever for industry progress, and addressing it region by region is essential to the long-term sustainability of the industry.

“It’s not just about improving how we build, but rethinking how we plan, collaborate and deliver,” he points out.

True gains will come from integrated approaches that align people, systems and outcomes.

“At BESIX Watpac, we build strong partnerships and embed operational excellence to meet time, cost, safety and quality objectives,” he says.

“From there, we explore tools like digital construction to further enhance outcomes and drive smarter delivery.”

BESIX Watpac’s business is built on the delivery of landmark projects, yet for Baker, the most rewarding part of his role is building a strong, values-driven culture.

“I love seeing individuals grow, collaborate and thrive, and I truly believe that a thriving culture is the foundation of our success,” he insists.

“It’s the human side of leadership that energizes me – being part of a team that’s passionate, committed and real. When we’re united, we do better together.”

He knows nothing would be possible without his team.

“Without our people, we don’t have a company. As a leader, recognizing this and bringing our people together with a shared purpose and passion is, to me, the most important quality of leadership.”