Projacs: 'The buck does not stop with Qatar'
PM company says North Africa is an 'important' market
Projacs International president and CEO Luay Khoury says that companies must not rely solely on Qatar and Saudi Arabia as future markets, but must look to the rest of the region to sustain growth.
“The buck does not stop there. We do not sit on our laurels and say that is it … We have just landed two new projects in Tunisia and Algeria, so North Africa is an important market to us.
"We have had an office in Casablanca since 2000, and are still working on several hotel and tourist projects.”
In Qatar, Projacs was the programme manager at the Khalifa Sport City in Doha for the 2006 Asian Games. "We are now looking to be part of the FIFA 2022 World Cup, and already have some contracts in place for different stadia,” says Khoury.
“Qatar is a market that is in the making, and because of that they are defining different ways of [getting things done] … they are keen on attracting the best international companies … they do have the budget and are spending.
“I guess the expectations by us, the service providers, are so high, and we needed to see it [materialise] so quickly, as we all saw Qatar as a safe haven we could benefit from when Dubai took a back seat over the past two years during the crisis. But it takes time."
Khoury says Saudi Arabia has the organic growth and population so it “needs anything and everything in terms of infrastructure, from schools to hospitals."
Projacs is a major player in Saudi Arabia, with offices in Riyadh, Khobar, Jeddah and Madinah. "We expect our business to grow exponentially over the coming few years," says Khoury.
Read the full interview with Luay Khoury in the next issue of Construction Week magazine.