Emaar Properties tops Power Hour 2016
Emaar Properties has emerged victorious in the Power Hour 2016, Construction Business News Middle Easts definitive ranking of the 60 most influential companies on the Middle East construction scene.
The Mohammed Alabbar-led developer moved from third in the inaugural list last year to wrestle top spot from Saudi Binladin Group after the contractor suffered a torrid year.
In fact such was its travails that Saudi Arabias biggest contractor tumbled out of the top 10 altogether, illustrating the severity of the impact in the kingdom of lower oil prices.
Emaar Properties, on the other hand, made a huge splash this year with the announcement of a tower that will loom over the worlds tallest building, Burj Khalifa, on the opposite side of the creek.
The unveiling in April of detailed plans for the Santiago Calatrava-designed monument signalled the start of the giant Dubai Creek Harbour development.
At twice the size of Downtown, the project holds the potential to provide work for many construction companies in the years running up to 2020 and beyond.
That Emaar is providing such a boost to an ailing industry is the reason it tops our list.