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Otis expecting $200m from GCC elevator business

Saudi Arabia market and projects fuelling elevators growth in the GCC

Otis elevators expects Saudi Arabia to provide $100m worth of business in the coming quarter (ITP Images)
Otis elevators expects Saudi Arabia to provide $100m worth of business in the coming quarter (ITP Images)

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Otis, elevators and escalator manufacturer, expects to do over $200m worth of business in the Gulf Arab countries over the next few quarters, the company’s Gulf area president has said.

Of the $200m available in the market, $100m alone is set to come from Saudi Arabia, while Qatar, Bahrain, Kuwait, Oman and Yemen are set to be strong performers as well.

“The GCC is an important market for Otis. We’ve got one company in the UAE, one in Kuwait, one in Saudi. We’ve just opened a company in Bahrain (as well),” said Pierre Dejoux, president of Otis, South Asia Pacific and Gulf Area, in an interview with MEP Middle East.

“We’ve got a lot of very good projects in Saudi Arabia. We have completed the Mecca Metro, last year we started the Landmark Towers project in Jeddah, we have the Samba Towers in Riyadh, and we’ve also got some big orders booked in King Abdullah Financial District.”

He added that the company was working with distributors in Oman and Yemen to expand their presence in those markets.

Situated in the King Abdullah Financial District in Riyadh, the Samba Tower is a 38 storey tower that houses the offices of the Samba Bank.

The proposed tower consists of two individual triangular masses connected by an atrium space. Standing at 160m and 140m respectively, the two towers contain triangular shaped cores that house elevators, stairs and other services.

As such, Otis has signed an $80m deal with the developers of the tower to provide elevator services for it. In addition, Dejoux said that there were a further $60m in deals lined up in the King Abdullah Financial District itself as the company leveraged the success of their Burj Khalifa project to obtain more work in the region.

“We’re going to be involved in all the negotiations, we’ve developed a centre of excellence for major projects in the Gulf, so we’re in active negotiation, as you can image and there is world-wide support for all these major projects,” he said.

In addition to its Saudi Arabian projects, the lift manufacturer was recently awarded the Cleveland Clinic, along with the Central Market, both in Abu Dhabi.

Aside from that, the manufacturer has also worked on the Al Shams resort.

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Construction Week Middle East 11th Jan 2020
Jan 16, 2020