Power Hour 2021: Anwar Sammour, CFO of Intermass, Ranks 23rd

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Ranking 23: Anwar Sammour CFO of Intermass Engineering & Contracting Co. LLC

Before joining Intermass, Anwar served as Finance Manager at Mannesmann Dematic FZE. He played a substantial role in setting up and position the MNC company in the Free Zone. He also took the Financial Controller position at Alico Aluminium, a leading Aluminium and Glass contractor in the region.

Fitted with a combination of robust industry perspective and experience, Anwar joined Intermass with a pledge to ensure its transition from a successful family business in the UAE to a sustainable full-fledged company that carries iconic and projects in the GCC and beyond.

Member of Intermass’ Executive Board, Anwar takes credit for helping develop and deploy the overarching strategy it embarked on in 2018. It aims to position Intermass as a full-grown industry leader in building and construction in face of an unprecedented and versatile global environment. The strategy is steadily accomplishing its goals, as evidenced by the outstanding performance in the past 12 months. Intermass retained the edge and raked in over AED 602 million in revenue compared to AED 482 million in 2019, with overheads reduced by 2%.

As the CFO, Anwar established solid banking relationships with tier-one banks in the UAE and commissioned and developed a customised ERP system to produce financial reports essential to Intermass’ operations management.

He said: “We started restructuring shortly before the pandemic. That was a blessing in disguise! We invested heavily in new engineering technologies that allowed us to improve efficiencies in tendering, engineering, planning, and finance.”

The five-pronged restructuring strategy comprises developing a competent team; assuring quality, service, and project management while prioritizing safety and integrity; maintaining and developing excellent relationships with existing and potential clients and positioning Intermass competitively to offer the best value possible; and observing a strict adherence to program timelines to deliver on time and within budget consistently.

He added: “We adopted leasing strategies of heavy machinery to control and measure costs more efficiently and improve cash flow. We also recruited great talents that we supported with the necessary training. Most importantly, we established a strong customer base with satisfied developers which allowed us to win important projects during tough pandemic times. This can-do approach and our rooted keenness to adopt advanced technologies, resulted in an exceptional client retention rate of 100% achieved in 2020.”

Projects:

MISK 1-4, Located in Muweilah area, Sharjah is a G+9 luxury residential complex.
Client: AlJada Developments LLC
Value: AED 282 Million

Nest 12 Buildings for Student accommodation in AlJada region, Sharjah is a G+5 luxury residential complex.
Client: AlJada Developments LLC
Value: AED 354 Million

MAG 318 in Business Bay, Downtown Dubai is a luxuriously and meticulously finished premium residential tower with views of Burj Khalifa.
Client: MAG on behalf of Matix Estate Limited F.Z
Value: AED: 159 Million

Rehan building located in Muweilah area of Sharjah
Client: Arada Developments LLC
Value: AED 82 Million

Construction for Presidential Guard Command
Client: UAE Armed Forces – Presidential Guard Command
Value: AED 183 Million

During Anwar’s tenure, Intermass received a sweep of accolades including, Residential Project of The Year 2019 Award for MAG 318 Residential Tower project. Construction Business News magazine granted Intermass the acclaimed award in the Construction Innovation category. It also received the Certificate of Appreciation award from Dubai Municipality in 2020 for the Hatta Project.