Arabtec chief tops CW's Power 100

Construction Week unveils the 2013 list of the industry's leaders

NEWS, Power 100, Business, Projects, Arabtec, Emaar, Saudi Binladen Group

Arabtec's new chief executive officer Hasan Abdullah Ismaik has been named in first place in Construction Week's Power 100.

Ismaik, who replaced last year's No.3 Riad Kamal as chief executive of Arabtec in February, has not let the grass grow under his feet since taking over the post.

The company is in the final stages of the first of a pair of rights issues as part of a fundraising of up to $1.75bn which it plans to use by growing several parts of its empire - most notably oil & gas and infrastructure and affordable housing.

It has also said it plans to grow several existing business arms such as its MEP and facilities management arms - both organically and through acquisition.

Ismaik topped the list ahead of Mohammed Alabbar from Emaar Properties, which has undertaken launched several major new schemes in Downtown Dubai as well as teaming up with Meraas to form a joint venture developing part of Mohammed Bin Rashid City and launching a new project on the creek. Sources within the industry have also indicated that it is progressing with plans for the Opera House and Cultural District first announced last year.

Third on the list Bakr Bin Laden, who heads Saudi Arabia's biggest and most prominent construction firm Saudi Binladin Group. Alongside its investment in the 1km-high Kingdom Tower, thee firm is also working on the expansion of Jeddah's airport,King Abdullah Economic City and the expansion of the Grand Mosque in Makkah.

To view the Power 100, click on the links at the top of this page.

 

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