ISG plans to triple size of Mid-East business
Company plans diversification into hospitality and data centres
ISG, the London-based fit-out contractor with $2bn of international sales, is planning to treble sales at its Middle East business unit within the next three years.
In an interview with Construction Week, the firm's Middle East managing director Alan McCready said: "We have a $50m business in the UAE here at the moment, and because of the vibrancy that we're feeling over the last six months and the pipeline that has been identified, there's no reason why that won't be $150m in the next three years.
"That would be the plan and the programme that we are working to at the moment. And we think that is achievable."
The company, which built the velodrome and handled overlay contracts at the London 2012 Olypmic Games, first set up in Dubai three years ago in partnership with Habtoor Leighton Group, but struck out on its own six months later and now employs 75 staff between offices in Dubai, Abu Dhabi and Qatar.
To date, it has concentrated on the corporate office fit-out market, carrying out work for professional and financial services firms at Sowwah Square. However, it has recently completed a number of hospitality projects and has strengthened its building services commissioning offer by expanding its Commtech Asia business into the Middle East.
Group chief executive David Lawther said: "If you look at the evolution of ISG across other geographies, we've primarily started in the corporate office market, we've then moved into the hospitality sector and then we've moved into the engineering sectors at the high-technology end - data centres, for example. I don't see any reason why we won't follow here."
An interview with ISG chief executive David Lawther and Middle East managing director Alan McCready appears in next week's edition of Construction Week.