11. Drake and Scull Engineering
Ahmad Al Nasser, Managing Director
Number of years in role: 3
Number of years in company: 14
Number of years working in Middle East: 21
The Drake and Scull International (DSI) conglomerate, which includes MEP wing Drake and Scull Engineering (DSE), recorded revenue of $1.14bn last year. However, this figure was slightly down on the $1.2bn recorded in 2014. DSI also reported a net loss of $255m for the whole 2015 compared to a net profit of $27.4m reported for 2014, in the midst of a prolonged slowdown in the regional construction sector.
The company says this was down to a number of one-off provisions related to ongoing arbitration and legal cases in some of its key markets, uncertified variations orders and disputed extensions of time claims, accrued certified work and other general provisions across several major projects.
Net profit during the first three months of 2016 was $2.5m as compared to a net profit of $7.5m reported for the same period last year.
Despite the disappointing results, Ahmad Al Nasser, manging director of Drake and Scull Engineering, notes two areas of opportunity for DSI to generate business over the next 12 months.
The first area is preparations for Dubai Expo 2020 and the 2022 FIFA World Cup in Qatar. The second is the acceleration in development of regional rail and urban rail networks.
12. ETA Engineering
Shaukat Ali Mir, CEO
Number of years in role: 3
Number of years in company: 7
Number of years working in Middle East: 34
ETA Engineering says that it secured revenue of $204m during the 2015 financial year. CEO Shaukat Ali Mir said that the company has adopted a three-way business strategy which aims to: enhance its footprint across MEP as well as power projects to support business diversification; extensive due diligence on fresh order booking, and promoting a culture of having in-house cost optimisation initiatives. Mir says that ETA’s carrying forward booking from last year currently stands at $735m.
Major projects completed during April 2015 and May 2016 include: Dubai Tram works, Lusail Multi-purpose Hall and substations for the likes of Meraas, Damac and Fujairah Electricity and Water Authority (FEWA) at the Port of Fujairah.
13. A&P Group of Companies
Yiannis Constantinou, CEO
Number of years in role: 1
Number of years in company: 8
Number of years working in Middle East: 18
Full-time staff: 4,454
Dubai-based A&P Group of Companies achieved revenue of $239m last year. Projected revenue for 2016 stands at $381m. CEO Yiannis Constantinou says the company is focused on winning more business in the UAE given the impending commencement of Dubai World Central and Expo 2020-related infrastructure. It is also investigating other possibilities outside of the GCC.
“Having won significant projects over the last 12 months, our primary focus is in executing these projects to our clients’ expectations and to maintain our standards of quality and reliability,” Constantinou says. “Our primary challenge as a company has always been to meet and surpass the expectations of our clients.”
14. Commodore Contracting | MEP
Nasser Ezzedin, General Manager
Number of years in role: 14
Number of years in company: 14
Number of years working in Middle East: 26
Under the guidance of general manager Nasser Ezzedin, Commodore Contracting | MEP pulled in revenue of $115.7m last year. Projected revenue for 2016 is $122.5m, with around 75% of this sum already secured.
Ezzedin says Commodore is in the market for major MEP contracts in its key geographies of the UAE, Qatar and Iraq. He also warns that payment delays continue to blight MEP contractors.
Major projects completed between April 2015 and May 2016 inlcude: An emergency response centre for Emirates Nuclear Energy Corporation, Yas Island Beach development for Ventura Entertainment, Abu Dhabi Future School - phase five, package five, and an SKMC Dialysis Centre for Abu Dhabi Health Services Company.
Major project wins for the first quarter of 2016 include: Burjeel Medical City, Noor Al Ahli Hospital, Akoya Oxygen – Damac, and Al Wafra residential development. Projects to be completed over the next 12 months include but are not limited to the following: Leaf Tower for 3AM Properties Investment Company, Al Jowhara Tower for MAAM Property Investment Company, Intercontinental Fujairah Hotel & Resort for Al Ain Properties and Al Habtoor City – Dragon Theatre for Al Habtoor Group.
15. Bahwan Engineering Company
Praveer Gopalchandra Chakravorty, CEO
Number of years in role: 2
Number of years in company: 2
Number of years working in Middle East: 2
Oman-based Bahwan Engineering Company has completed a range of projects between April 2015 and May 2016. Some of these in the Sultanate included: Sultan Qaboos Mosque in Nizwa, Khoula Hospital extension, Al Fanar Hotel in Salalah, development of Salalah Airport – package MC-5, Al Hail Greens residential development, the MCC-Race Track Mall expansion and the UES corporate offices and warehouses in Rusayl.
Major project wins for 2016 include: the extension of the Armed Forces Hospital in Al Khoudh, centralised warehouses and accommodation buildings at Misfah North, and the Royal Tulip Hotel Muscat in Al Ghubra North.
Chief executive office, Praveer Chakravorty, highlights the new Sultan Qaboos Hospital in Salalah as a project he would be keen to be involved with over the next 12 months.
“We are not only changing the face of engineering construction, we are also equally proud to have been instrumental in touching the lives of our stakeholders – our employees, our customers and our business associates,” says Chakravorty.