Airolink signs $760m new construction contracts
Airolink has been involved in the construction of five schools in Dubai and Abu Dhabi
Airolink, a design and build construction firm, has announced the signing of $760m (AED2.8bn) worth new project contracts.
The new signing raises Airolink’s total value in its current order book to $1.2bn (AED4.4bn), from $435m (AED1.6bn) in the first quarter of 2017.
“The new construction contracts worth AED2.8bn reflect a growing confidence of our clients on Airolink’s project delivery capacity and demonstrate our growing strength in project management and construction,” Dr Anil G Pillai, chairman and managing director of Airolink, said.
“The projects demonstrate a strong pipeline of construction projects that are being executed by clients and developers.”
Among the ongoing projects, Al Mamzar Centre, Emirates College of Technology, Bloom School, Art Centre, and Dubai Heights School, are of significant value.
Airolink has also been involved in the construction of five schools in Dubai and Abu Dhabi.
Dr Pillai added: “We have been quite strong in developing many educational facilities, shopping centers, hotels, residential, and healthcare projects. Our strength comes from undertaking projects on turnkey basis.
“We are able to undertake the full development responsibility – including educating the clients on construction technology and financial discipline, feasibility study of the project, consultancy, design, detailed design, construction and delivery of the complete project to the client. So, we are not just a contractor.”
The company, which has a strong presence in Abu Dhabi, Dubai, and Ireland, employs 2000 employees including the recently hired workforce.
Airolink traces its origin back in Europe, where Airolink was set up in 2001 to cater to the specialised needs of a booming construction industry in Ireland (2001-2008).
Having established in Europe, Airolink expanded to Middle East with some of the prestigious contracts in UAE in 2008 establishing Airolink Building Contracting LLC in Dubai.
The outlook for Dubai’s construction industry looks positive for 2017 as 4,000 active construction projects worth $313 billion are currently underway, according to data from BNC’s Construction Analytics report.
The value of ongoing urban construction projects across the GCC has exceeded the $1tn mark, according to new research.
Projects in the Gulf region are worth a combined $1.09tn, with buildings and urban development accounting for more than half of that sum, or $745bn.
Across the GCC, more than 12,200 buildings are under construction worth $448bn in value, with a further 204 urban megaprojects worth $297bn also under way.
The report said that of 21% of planned projects in the GCC are on hold, valued at $494.9bn.