Turkey-headquartered AE Arma-Elektropanç recorded $169m in revenues for the financial year ending 31 December, 2015, and the contractor has projected earnings worth $190m for 2016. The company currently employs 400 qualified engineers.
Since 2014, the contractor has carried out mechanical, electrical, and plumbing (MEP) works on the University of Dubai project, developed by Dubai Chamber of Commerce, under a $8.4m (AED31m) contract.
AE Arma is also engaged to carry out MEP works for Emirates-Morocco General Trading and Investment Company’s (EMROC) Bab Al Qasr Hotel and Residence project, where it was appointed by main contractor Nurol Contracting, through a $65.3m (AED240m) deal. AE Arma board member, Burak Kizilhan, told Construction Week that the UAE and Qatar are the firm’s largest markets in the region. Within these territories, Dubai and Abu Dhabi are the contractor’s busiest markets.
In the former, AE Arma is working on projects such as Riverland Dubai and Bluewaters Wharf Retail, while in the UAE’s capital, the contractor is engaged on the Abu Dhabi Marina City Development. Kizilhan said tough competition in the region’s MEP sector would likely prove to be a challenge in the upcoming year, but was quick to point out the scope for growth in the years to come.
“Thanks to Expo 2020, there will be plenty of new construction in the UAE. The 2022 FIFA World Cup is around the corner, so there will be numerous construction projects in Qatar.”