Arabtec

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Arabtec Construction (LLC)
Type Limited Liability Company
Industry Construction
Founders Riad Kamal
Headquarters Shaikh Zayed Road Al Quoz St.04, Dubai, United Arab Emirates
Services Residential Developments, Commercial developments, Hotels, Infrastructure, High Rise Development, Super High Rise Development On - and Offshore Oil and Gas and Industrial Projects
Revenue 5.66 billion AED (2012)[1]
Net income 139.2 million AED (2012)[1]
Total assets Increase 6.487 billion AED (2012)[1]
Employees 42,000
Website www.arabtecuae.com Arabtec Construction

Arabtec Construction LLC is the largest construction company in the Persian Gulf by market value.[2][3][4][5]

Arabtec has executed a number of high-profile construction projects, including the Burj Khalifa (the tallest building in the world), the fit out of Burj Al Arab (fourth tallest hotel in the world that was constructed by Al Habtoor Engineering Enterprises in partnership with Murray and Roberts ), Terminal 1 of Dubai International Airport and passenger terminal of Dubai World Central International Airport.[6] Major high-profile projects under execution include the underground cycle works for Lakhta Center in St. Petersburg (the tallest building in Europe), Infinity Tower and Dubai Sports City.[7]

Arabtec has business agreements with a number of major construction conglomerates across the world, including the Saudi Binladin Group and Raheja Developers of India.

Overview[edit]

Arabtec Construction is a multinational construction company that is headquartered in Dubai, United Arab Emirates, where it is one of the leading companies in its sector.[8] Arabtec Construction was established in Dubai in 1975 and has completed a number of projects in different construction sectors such as High Rise Developments, Hotels and Hotel Interiors, Office Blocks, Commercial Developments, Industrial Projects, Major Airport Developments, Stadiums, Infrastructure and Drainage works, Offshore Oil and Gas Installations and Residential Complexes.[9][10]

Growth in Dubai was followed by geographical diversification and local and international expansion. Arabtec Construction has associated companies based in Abu Dhabi, Jordan, Pakistan, Qatar, Russia, Saudi Arabia and Syria. Arabtec Construction operates under Arabtec Holding PJSC. The group now consists of 13 subsidiaries, each one providing end-to-end contracting services across the construction value chain.[11]

Arabtec Holding was the first privately held company as well as the first construction company to go public in the UAE. The company was listed on the Dubai Financial Market (DFM)[12] in 2005 and since the IPO the stock has been one of the most traded in the region. In 2010 Dubai Financial Market awarded Arabtec Holding as the most traded stock from year 2000 to 2010.[13]

Arabtec on May 14th, 2014 signed an sponsorship agreement with Premier League giants Manchester City F.C. to sponsor the football club for 3 years. [1]

History[edit]

Originally founded in 1975, Arabtec took advantage of the emerging markets in the UAE during the construction boom of the 1970s. Arabtec Construction started as a construction company specialized in high tech civil engineering and infrastructure works.

During the 1980s Arabtec began an involvement with the oil and gas sectors in Abu Dhabi.[14] In 1995 Arabtec diversified into airport work which played a key role in the company’s expansion and its rise to become one of the top contractors in Dubai.[by whom?] In the 1990s Arabtec also expanded into the villa sector. The expansion into villas and housing led to the creation of a division called Arabtec Living, which marked a key milestone in the expansion and growth of the company.[citation needed] As early as in 1976 Arabtec made its first foray into high rise construction.

In 2011, Arabtec formed a joint-venture with Raheja Developers of India.[15] Raheja Developers awarded construction contracts worth US$204 million to the JV.[15] The company's first project is to construct a 56 storied, 196 meter high residential complex, known as Raheja Revanta, in Gurgaon.[15]

In 2013, Arabtec formed a joint-venture with Samsung Engineering of South Korea. They will collaborate to undertake large-scale projects in oil & gas, power and infrastructure in the Middle East and North Africa. Arabtec-Samsung will bid for contracts that range from $3 billion to $10 billion in value.[4][16]

Joint ventures and subsidiaries[edit]

  • Arabtec Holding PJSC, Dubai, UAE – Holding company – Management of subsidiaries[17]
  • Austrian Arabian Ready Mix, Dubai, UAE – Manufacture and transportation of ready mix concrete products[18]
  • House of Equipment Co. L.L.C, Dubai, UAE – Trading and leasing of construction equipment.[19]
  • Arabtec Construction Qatar L.L.C, Doha, Qatar – Civil construction and related works[20]
  • Arabtec Precast L.L.C, Dubai, UAE – Manufacture of precast panels[21]
  • Nasser Bin Khaled Factory Ready Mix Concrete Co. L.C.C, Doha, Qatar – Manufacture and transportation of ready mix concrete product.[22]
  • Emirates Falcon Electromechanical Co. (EFECO) L.L.C, Dubai, UAE – Electrical mechanical and plumbing contracts[23]
  • Arabtec Construction (India) Private Limited, Gurgaon, India - JV with Raheja Developers for residential complex construction works[24]
  • Arabtec Engineering Services L.L.C, Dubai, UAE – Infrastructure construction works[25]
  • Arabtec Construction Syria L.L.C, Syria – Civil construction and related works[26]
  • Arabtec Pakistan Limited, Pakistan – Civil construction and related works[27]
  • Target Engineering Construction Company, Abu Dhabi, UAE – Civil construction and related works[28]
  • Gulf Steel Industries FZC, Sharjah, UAE – Fabrication of steel structures and profiles.[29]
  • Arabtec Saudi Arabia L.L.C, Saudi Arabia – Civil Construction and related works
  • Polypod Middle East L.L.C, Abu Dhabi, UAE – Manufacture of bathroom, kitchen and hot press pods[30]
  • Arabtec Egypt L.L.C, Cairo, Egypt - Egyptian construction and infrastructure markets with focus on residential, infrastructure and commercial projects.[31]

Major services and projects[edit]

Arabtec is one of the largest contractors for civil and infrastructure works, having executed several notable projects such as the Burj Khalifa, completed in January 2010 the tower is the tallest in the world standing 828 metres above ground.

Major projects executed or under progress[6]

  • High Rise Developments e.g. Burj Khalifa, tallest structure in the world, Infinity Tower, the Okhta Tower, Karachi Financial Towers, Ocean Heights, 21st Century Tower[citation needed]
  • Major Airport Developments e.g. Dubai Airport and Dubai World Central International Airport[citation needed]
  • Stadiums e.g. Ghantoot Grandstand and Dubai Sports City Stadiums[citation needed]
  • Industrial and Marine Projects e.g. Abu Dhabi Ship Building Facility, Mubarraz Island oil processing plant[citation needed]
  • Oil, Gas, and Power e.g. Middle East and North Africa; Joint venture with Samsung Engineering.[4]

Expansion plans[edit]

Arabtec Construction has announced plans to expand into the emerging markets of the Middle East and North Africa (MENA region). Plans are set to enter Algeria, Angola, Azerbaijan, Libya, and Turkmenistan.[citation needed]

Arabtec was in 2009 ranked as the 104th largest Global Contractor, based on the total firm contracting revenue, according to the Engineering News Record.[33]

Awards[edit]

Company awards World Finance Company of the Decade 2000-2010, World Finance Magazine March–April 2011, (2011)[34]

World Finance Company of the Decade 2001 – 2010 by World Finance Magazine March–April 2011[citation needed]

The Big Project b-green Award 2011 Contractor of the Year[citation needed]

Certificate of Exemplary Performance to Arabtec Qatar from Ministry of Labour – National Committee for Health and Safety – Qatar – 2012[citation needed]

Most Traded Stock from year 2000 to 2010, Dubai Financial Market, (2010)[13]

Construction Firm of the year, NASEBA Kingdom Expansion Congress, (2009)[citation needed]

Mohammed Bin Rashid Al Maktoum (MRM) Business Award 2008, Construction Category, (2008)[35]

UAE Top Contractor 2008, Construction World Gulf Awards, (2008)[citation needed]

Company of the Year, Arabian Business Awards, (2007)[36]

Best Contracting Company in UAE 2007, Al Mazaya Group, (2007)[citation needed]

Project awards

The Address, Downtown Burj Dubai – Burj Lake Hotel: Best Hotel in the World in 2011 at Global Traveller Awards[citation needed]

AIA Chicago: Distinguished Building Award Citation of Merit- Burj Khalifa[citation needed]

AIA Chicago: Interior Architecture Award Citation of Merit-Public Areas at the Residences of Burj Khalifa.[citation needed]

MEED GCC Building Project Of The Year 2012[citation needed]

MEED UAE Building Project Of The Year 2012[citation needed]

The Address, Downtown Dubai - New Hotel 2008 at the World Hotel Award, (2008)[37]

Infinity Towers - Six World Class Design Awards, Cayan Investment Development[38]

Sanctuary Falls, 96 Villas - Best Golf Development, CNBC, Arabian Property Award, (2007)[39]

Le Reve - Best Luxury Development in the world Gold Awards, Home Overseas Magazine Awards, UK, (2006)[40]

Le Reve - Best Use of Technology, Home Overseas Magazine Awards, UK, (2006)[40]

Emirates Hills - Gold Award, Home Overseas Magazine Awards, UK, (2005)[40]

References[edit]

  1. ^ a b c "Arabtec Holding Co (ARTC:DFM)". businessweek.com. Retrieved 2013-04-21. 
  2. ^ Dubai’s Arabtec Holding appoints new chairman
  3. ^ Elizabeth Broomhall (2013-04-21). "Arabtec profile: Rising from the Ashes". constructionwweekonline.com. Retrieved 2010-06-13. 
  4. ^ a b c Zainab Fattah (2013-04-17). "Arabtec and Samsung Engineering Form Joint Venture". Bloomberg.com. Retrieved 2013-04-21. 
  5. ^ Michael Fahy (2013-04-21). "Face to Face: Arabtec CEO Hasan Abdullah Ismaik". constructionweekonline.com. Retrieved 2013-04-21. 
  6. ^ a b Completed projects
  7. ^ On-going projects
  8. ^ Arabtec to hire thousands of new staff
  9. ^ Arabtec Construction: About Us
  10. ^ Menon, Praveen (2013-04-13). "Dubai developer Arabtec's shareholders approve capital raise". Reuters.com. Retrieved 2013-04-21. 
  11. ^ Arabtec Holding
  12. ^ DFM
  13. ^ a b DFM
  14. ^ "Arabtec Holdings (ARTC.DU)". taib.com. 2006-10-02. Retrieved 2013-04-21. 
  15. ^ a b c Raheja forms JV with Dubai’s construction firm Arabtec
  16. ^ "Arabtec and Samsung to make joint bid for giant projects". Arabnews.com. 2013-04-18. Retrieved 2013-04-21. 
  17. ^ Arabtec Holding
  18. ^ Austrian Arabian Ready Mix
  19. ^ House of Equipment
  20. ^ "Arabtec Construction - Qatar". arabianbusiness.com. Retrieved 2013-04-21. 
  21. ^ "Arabtec Precast (APL)". zawya.com. Retrieved 2013-04-21. 
  22. ^ "Company Overview of Nasser Bin Khaled Factory Ready Mix Concrete Co. LLC". businessweek.com. Retrieved 2013-04-21. 
  23. ^ EFECO
  24. ^ Arabtec India
  25. ^ "Company Overview of Arabtec Engineering Services Llc". Businessweek.com. Retrieved 2013-04-21. 
  26. ^ "Company Overview of Arabtec Construction Syria Llc". businessweek.com. Retrieved 2013-04-21. 
  27. ^ "Arabtec Pakistan (pvt) Ltd.". Pakistanbusinessjournal.com. Retrieved 2013-04-21. 
  28. ^ Target Engineering Construction Company
  29. ^ Gulf Steel Industries
  30. ^ Polypod Middle East
  31. ^ "Arabtec Egypt Nets Amer Group Contract". arabianbusiness.com. 2013-04-21. Retrieved 2013-04-21. 
  32. ^ Dinesh Nair (24 September 2013). "Dubai builder Arabtec launches venture with Samsung Engineering". Reuters. 
  33. ^ http://www.cmcra.com/img/articoli/536/ENR-09-TIC.pdf
  34. ^ http://www.arabtecholding.com/CertificateDetails.aspx?id=13
  35. ^ AME Info
  36. ^ Zawya
  37. ^ Press Release Emaar
  38. ^ Estates Dubai
  39. ^ AME info
  40. ^ a b c Dubai Luxuary Homes