UAE's Beaver Gulf reveals acquisitions made in 2016
The firm, which recorded $109m (AED400m) as revenue in 2016, acquired three companies during the year, of which two are related to the construction industry
Acquisitions made by Beaver Gulf in the last 12 months have been revealed.
The firm recorded $109m (AED400m) in revenues last year, with 2017 projections set at $190.5m (AED700m).
Up to 7% of last year’s revenues was set as profit, and 80% of this year’s project values are secured, chairman and CEO, Rajesh Kumar Krishna, told ConstructionWeekOnline.
The UAE-based company gained attention when it was awarded developer Nshama’s Town Square contract for the Zahra and Hayat communities in August 2015.
Beaver Gulf acquired three companies in 2016, of which two are related to the construction industry.
One of the firms it acquired is United Colour Film, which produces signs and graphics.
In addition, the company acquired Dragon Engineering, a structural steel and oil and gas-sector specialist, and Mammut Technocrete, a producer of precast concrete items.
Established in 2005, Dragon Engineering has a 1.4ha facility in Jebel Ali Free Zone (Jafza), which will serve as Beaver’s fabrication facility for structural steel and oil and gas sections.
Meanwhile, Mammut Technocrete, also formed in 2005, is the UAE’s largest precast factory, and annually produces more than 250ha of precast panels.
Beaver Gulf has also ventured into the real estate segment, with the company set to develop 130 Zafran townhouses in collaboration with Jumeirah Golf Estates, Krishna told ConstructionWeekOnline.
The company's portfolio of ongoing projects also includes Safi townhouses in the Town Square development, in addition to a 2B+G+M+13-storey Citymax Hotel in Ras Al Khaimah.