Power Hour 2019: Ranking 26 to 30
The annual list of the Middle East’s Top 60 most prominent contractors, real estate developers, consultants, facilities management companies features more than 11 new entries from across the region, putting in the spotlight the current improving outlook of the sector. These new entries have altered the entire corporate dynamics of the Power Hour 2019.
We revealed who got ranked 26 to 30:
26. Hussain Sajwani, Chairman of DAMAC Properties
In the mid-90s, he built several hotels to accommodate the growing influx of people coming to the emirate to do business and trade. In 2002, he identified a growing market opportunity and established DAMAC Properties, which has grown to become the one of the largest property development companies in the Middle East. Today, DAMAC Properties has several prestigious projects in key global cities like Dubai, Jeddah and London, employs nearly 2,000 professionals, is a publicly-listed Company with shares traded on the Dubai Financial Market and was ranked as the #1 fastest growing company on the Forbes Global 2000 List for 2017. To date, DAMAC Properties has delivered over 24,000 homes, and has a development portfolio of more than 40,000 units at various stages of planning and progress.
As a market leader, DAMAC Properties has joined forces with some of the most recognisable lifestyle brands, to bring distinguished living concepts to the market. Projects include a Tiger Woods designed golf course, luxury apartments and villas with interiors by Italian fashion-houses Versace Home, Fendi Casa and Just Cavalli, and uniquely conceptualised Paramount Hotels & Resorts to deliver serviced living at its most opulent.
27. Muhammad Binghatti, CEO and Head of Architecture, Binghatti Holding
Muhammad BinGhatti has been leading the developer into its third generation with an ambition of creating a renaissance of business in the region. Binghatti Holding’s CEO and Head of Architecture is inspired by the Arab region’s tradition, history, and culture, and has used the inspiration to be successful in developing an identifiable and branded visual identity across all the company’s subsidiaries.
Binghatti Holding, operates throughout the UAE with an investment value constituting AED 3 Billion across a portfolio of 30 projects, including its strategic partnership in the AED 1 Billion Swarovski Sparkle Towers of Dubai Marina.
According to the company they are currently working on 12 projects at different stages of design and completion, which will provide by the coming year 4000 housing units, at a rate of 2000 units per year.
28. Talal Al Dhiyebi, CEO of Aldar Properties
Aldar Properties PJSC (“Aldar”), Abu Dhabi’s leading property development, management and Investment Company, has reported a 20% year-on-year increase in revenue to AED1.76 billion in the first quarter of 2019.
Talal Al Dhiyebi, Chief Executive Officer, Aldar Properties commented in a press statement: “2019 is off to a great start. Our strong sales reinforce Abu Dhabi’s favourable supply and demand dynamics as seen with Alreeman and Lea. Our high-quality asset management portfolio is well balanced and showing the benefits of its strategic diversification. Our strategy is optimised to take advantage of the opportunities stemming from pro-growth government initiatives.”
Recent Government reforms, including the introduction of freehold title for foreign buyers within investment zones in Abu Dhabi, are enhancing the long-term attractiveness of real estate sector. In addition, the Abu Dhabi Government’s fiscal stimulus programme – Ghadan 21, and new measures to encourage business growth, are already starting to spur the economy and will increase the allure of the Emirate as a place in which to live, work and invest.
29. Gary Reader, General Manager of ServeU
As the most senior member of ServeU, Gary is directly responsible for the overall performance of the company, operations and client relationship management. His extensive experience in the UAE brings a holistic understanding of service delivery in key critical high foot fall multi-location realms.
ServeU, a wholly owned subsidiary of one of leading real estate developers in the UAE Union Properties, is regarded as one of the leading facilities management companies in the UAE, with a rich history of FM expertise spanning over 40 years.
They currently employ over 5,000 staff, manage over 900 active projects, and have more than 600 clients and more than 100 corporate partners across the region.
With a large team and strategic direction by Gary Reader, General Manager, ServeU consistently delivers exceptional solutions to its clients. We are also at the leading edge of new solutions and technologies, pioneering environmental and sustainable approaches that have a positive impact on the greater society.
ServeU has won multiple long-term contracts with a varied portfolio of clients in the second half of 2018. The company has recorded a total of over AED250 million in revenue, after forging business relationships across multiple industries and growing its client portfolio to comprise a large and well-established theme park in Dubai, a leading government transportation provider, a top UAE bank with 56 sites across the seven emirates, as well as a prominent higher education provider. ServeU’s client list includes Adidas, IMG Worlds, University of Dubai, Mashreq, The Polo Residence and The Ritz Carlton.
30. Eng Hamad Al Ameri, Managing Director, Trojan Holding
Hamad considers his role in the company as the architect of change. He joined the company at a time when the industry was battered by the financial crisis and most of the companies were feeling the pinch.
In 2012, Trojan Holding regrouped to complement and focus their resources. And alongside with acquisition of wide array of plant equipment and select team of highly-qualified personnel, Trojan was able to turnaround and execute a diverse and far-reaching portfolio of major construction projects in almost all sectors of real estate and infrastructure development.
From the beginning, Trojan continues to grow with more than 25,000 direct manpower and AED 5.5 billion combined turnover.
Projects completed in the last 12 months are Horizon Towers, Al Noor Tower, Emiratis Housing Development (3000 Villas) at Jabel Hafeet, Ain AL Faydha 2000 Government Villas & Associated Infrastructure: Work Design & build of 2,000 villas with built-up area of around 405 m2 each unit.
18 Mira Oasis Townhouses: Construction of 1393 units of townhouses at Reem Phase 2, Dubai including testing, commissioning and remedying of any defects. Masdar Internal Roads & Utilities and Airport Access: Construction, installation of roads & utilities, storm water potable water, district cooling, telecom, solar street lighting and TSE (irrigation), 2x22kV cable loops from Raha A primary substation to Masdar city, Structure over gas corridor. Power supply, Masdar Phase 1 roads, Masdar visitor center roads, landscape for east perimeter road and interface point works. Year completed: 23-Jun-18
Hamad stated: “Our expansion plan is a continuing one and we base it on current prospects in the region and the rest of the world in general. Right now, we are in the process of formalizing our presence in Belarus and already completed our establishment in KSA apart from other locations in Europe and MENA region.”