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Hasan Abdulla Ismaik
1

Hasan Abdulla Ismaik

CEO, Arabtec Holdings
Mohammed Alabbar

Taking top spot in this year’s Power 100 is the new boss of the Middle East’s biggest publicly-quoted construction company, which has embarked on a clear new strategy to become even bigger under his leadership.

Arabtec, which employs 42,000, underwent a massive shakeup earlier this year where longstanding CEO Riad Kamal – last year’s Power 100 number 3 - and finance chief Ziad Mahzoumi were replaced.

Ismaik was appointed to Arabtec’s board in August last year becoming CEO in February when he appointed five key posts as part of a new group strategy, which will see the company raise $1.75 billion over the next two years. The rights issue opened this month and aims to raise up to AED2.35 billion to help fund a five-year growth strategy.

Ismaik said that he believed the revamped company “enhances Arabtec’s international experience and knowledge.”

He has made it clear the company will focus on high-margin contracts like oil, gas and infrastructure, which currently accounts for just over a quarter of its work. That includes a new joint venture with South Korea’s Samsung Engineering.

Arabtec is set to take over the entire 59-storey commercial tower at Aldar’s World Trade Centre Development when it’s finished in September allowing “room for our expansion,” said Ismaik.

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Awards

New category open for consultancies at CW Awards 2019 in Dubai
Sub-Consultancy of the Year to be crowned for the first time at the gala ceremony
Leaders in Construction KSA Awards to be held in Sep 2019
Gala ceremony in Riyadh to recognise and reward Saudi Arabia's best construction projects and brightest

Conferences

Leaders UAE 2019: Pinsent Masons confirmed as Gold Sponsor
Law firm is among the major construction industry players confirmed as sponsors for Leaders UAE's
Leaders in Construction UAE Summit returns in Sept 2019
Dubai conference to see top officials discuss the people, trends, and challenges that will power

Latest Issue

Construction Week - Issue 747
Aug 03, 2019