Arabtec

Arabtec Construction (PJSC)
Public Shareholding Company
Industry Construction
Founded 1975
Founder 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]
139.2 million AED (2012)[1]
Total assets Increase 6.487 billion AED (2012)[1]
Number of employees
 42,000
Website www.arabtecuae.com Arabtec Construction

Arabtec Construction PJSC 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.

Overview

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 14, 2014 signed an sponsorship agreement with Premier League giants Manchester City F.C. to sponsor the football club for 3 years.

History

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. 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. 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]

In 2015, Arabtec posted a loss of $626 million.[17]

Controversy

In a 2009 BBC Panorama program, Arabtec was exposed as treating their migrant workers inhumanely. The program showed how Arabtec failed to provide its workers with basic amenities to live with conditions deteriorating rapidly across the camp.[18]

Armed with secret cameras, BBC reporters sneaked into the camp to be met with the smell of raw sewage. Sewage had leaked out all over the camp, and workers had to create a network of stepping stones to cross it and get back to their accommodation blocks.[18]

Documents which had been obtained by the BBC clearly show that a month previous to the television crews' visit, the Dubai municipality described the sewage situation at the site as critical. Arabtec had also been fined 10,000 AED,[18] which is approximately £2,000, for neglecting hygiene standards and allowing sewage to overflow into accommodation used by workers.[18]

Arabtec said it did not accept that there were unsanitary conditions at any of its camps' toilets. It blamed the workers, saying, despite training, their "standards of cleanliness and hygiene are not up to your or our standards".[18]

Joint ventures and subsidiaries

Major services and projects of ARABTEC

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] —

Expansion plans

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.

Arabtec was in 2009 ranked as the 104th largest Global Contractor, based on the total firm contracting revenue, according to the Engineering News Record.[36]

Awards

Company awards World Finance Company of the Decade 2000-2010, World Finance Magazine March–April 2011, (2011)[37]

World Finance Company of the Decade 2001 – 2010 by World Finance Magazine March–April 2011

The Big Project b-green Award 2011 Contractor of the Year

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

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

Construction Firm of the year, NASEBA Kingdom Expansion Congress, (2009)

Mohammed Bin Rashid Al Maktoum (MRM) Business Award 2008, Construction Category, (2008)[38]

UAE Top Contractor 2008, Construction World Gulf Awards, (2008)

Company of the Year, Arabian Business Awards, (2007)[39]

Best Contracting Company in UAE 2007, Al Mazaya Group, (2007)

Project awards

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

AIA Chicago: Distinguished Building Award Citation of Merit- Burj Khalifa

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

MEED GCC Building Project Of The Year 2012

MEED UAE Building Project Of The Year 2012

The Address, Downtown Dubai - New Hotel 2008 at the World Hotel Award, (2008)[40]

Infinity Towers - Six World Class Design Awards, Cayan Investment Development[41]

Sanctuary Falls, 96 Villas - Best Golf Development, CNBC, Arabian Property Award, (2007)[42]

Le Reve - Best Luxury Development in the world Gold Awards, Home Overseas Magazine Awards, UK, (2006)[43]

Le Reve - Best Use of Technology, Home Overseas Magazine Awards, UK, (2006)[43]

Emirates Hills - Gold Award, Home Overseas Magazine Awards, UK, (2005)[43]

References

  1. 1 2 3 "Arabtec Holding Co (ARTC:DFM)". businessweek.com. Retrieved 2013-04-21.
  2. ↑ Dubai’s Arabtec Holding appoints new chairman Archived March 23, 2012, at the Wayback Machine.
  3. ↑ Elizabeth Broomhall (2013-04-21). "Arabtec profile: Rising from the Ashes". constructionwweekonline.com. Retrieved 2010-06-13.
  4. 1 2 3 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. 1 2 Completed projects Archived May 13, 2012, at the Wayback Machine.
  7. ↑ On-going projects Archived May 13, 2012, at the Wayback Machine.
  8. ↑ Arabtec to hire thousands of new staff
  9. ↑ Arabtec Construction: About Us Archived April 26, 2009, at the Wayback Machine.
  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 Archived August 8, 2010, at the Wayback Machine.
  13. 1 2 DFM Archived March 8, 2012, at the Wayback Machine.
  14. ↑ "Arabtec Holdings (ARTC.DU)" (PDF). taib.com. 2006-10-02. Retrieved 2013-04-21.
  15. 1 2 3 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. ↑ http://www.arabianbusiness.com/dubai-s-arabtec-reports-626m-loss-for-2015-622280.html
  18. 1 2 3 4 5 "Dark side of the Dubai dream". BBC News. 2009-04-06.
  19. ↑ Arabtec Holding
  20. ↑ Austrian Arabian Ready Mix
  21. ↑ House of Equipment
  22. ↑ "Arabtec Construction - Qatar". arabianbusiness.com. Retrieved 2013-04-21.
  23. ↑ "Arabtec Precast (APL)". zawya.com. Retrieved 2013-04-21.
  24. ↑ "Company Overview of Nasser Bin Khaled Factory Ready Mix Concrete Co. LLC". businessweek.com. Retrieved 2013-04-21.
  25. ↑ EFECO
  26. ↑ Arabtec India
  27. ↑ "Company Overview of Arabtec Engineering Services Llc". Businessweek.com. Retrieved 2013-04-21.
  28. ↑ "Company Overview of Arabtec Construction Syria Llc". businessweek.com. Retrieved 2013-04-21.
  29. ↑ "Arabtec Pakistan (pvt) Ltd.". Pakistanbusinessjournal.com. Retrieved 2013-04-21.
  30. ↑ Target Engineering Construction Company
  31. ↑ Gulf Steel Industries Archived August 8, 2010, at the Wayback Machine.
  32. ↑ Polypod Middle East
  33. ↑ "Arabtec Egypt Nets Amer Group Contract". arabianbusiness.com. 2013-04-21. Retrieved 2013-04-21.
  34. ↑ Dinesh Nair (24 September 2013). "Dubai builder Arabtec launches venture with Samsung Engineering". Reuters.
  35. ↑ "Raheja Developers in JV to build tallest towers in NCR". India Today. 5 November 2011. Retrieved 14 March 2015.
  36. ↑ http://www.cmcra.com/img/articoli/536/ENR-09-TIC.pdf
  37. ↑ http://www.arabtecholding.com/CertificateDetails.aspx?id=13[]
  38. ↑ AME Info Archived June 7, 2011, at the Wayback Machine.
  39. ↑ Zawya
  40. ↑ Press Release Emaar
  41. ↑ Estates Dubai
  42. ↑ AME info Archived June 7, 2011, at the Wayback Machine.
  43. 1 2 3 Dubai Luxuary Homes Archived October 4, 2010, at the Wayback Machine.
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