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UAE construction company Al Jaber Group will open a new office in Saudi Arabia, following the succesful launch of a branch in Australia, as the company expands its global operations.
Chief operating officer Fatima Obaid Al Jaber said, "These two countries have a booming construction industry. These are the new markets we are looking at. We are looking at starting legal registration in Saudi Arabia. There are also some major mining projects in Australia."
The company is also bidding for local projects. Al Jaber said they will bid for the Abu Dhabi International Airport expansion project, and the Etihad Rail project.
"A sulphur-handling project in Ruwais has been awarded to us recently," she added.
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Al Jaber highlighted the company's desire to move to the Gulf's most populous nation in an interview carried by CW last November.
“We are actually working in Qatar and we’re looking at the Saudi Arabian market, but I think we are being quite conservative about this. There are some plans in the pipeline for Saudi. But we’re staying within the GCC,” she told ConstructionWeek.
She also said moving into new markets was not possible without good finanical support and cashflow from banks.
“Financing in this market is tough. It’s not easy,” she explained. “I think the banks are a bit reluctant to support companies. I think they’re trying their best but there are a lot of regulations in place that stop them from doing so. We are trying to work around all of these things, and we have good support from the existing banks that we are working with, but you know, if you want to expand, you need more support.”
Al Jaber said "that by Q1 of next year, we will see more Al Jaber Group projects across the region."
Other construction related firms to open in Riyad include Ramboll Middle East and Jotun Saudi.
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Its good to be in aljaber as part of the team in Health and Safety Environment DivisioN...aLMOST PROJECT FINISH IN tAWEE