As chief executive officer of Arabtec Holding, Hamish Tyrwhitt has successfully capitalised on the momentum the business began to build in Q1 2017, securing revenues of $2.5bn (AED9.18bn) in the last financial year.
The UAE-headquartered construction giant worked as the main contractor on projects including the Louvre Abu Dhabi, Dubai’s Damac Heights and Oud Muteena Villas, and Aramco Villas in Saudi Arabia, and the company’s ongoing portfolio includes work on Abu Dhabi’s Midfield Terminal Project in a joint venture (JV) with CCC and TAV, Bahrain International Airport in a JV with TAV, the UAE’s Al Ain Hospital in a JV with SanJose, Dubai South Mall, and Jordan’s Saraya Aqaba in a JV with CCC.
Tyrwhitt says that Expo 2020 Dubai is also proving crucial for the company: “Expo 2020-related development projects are expected to exceed $33bn (AED121.22bn), with more than 2,000 new structures being built in the UAE. There are more than 180 countries participating […], each of which will construct its own pavilion,” he explains. “[The event] is one of the single biggest opportunities for Arabtec Group within the next 12 months.”
And in his role as group CEO of Depa Group, Tyrwhitt has also enjoyed a very good year. The group performed well “as a result of strong progress in executing our clearly defined business strategy, coupled with improved operational performance and the collection of a number of significant receivables”, Tyrwhitt explains.
In the last fiscal year, Depa Group saw $490.1m (AED1.80bn) in revenues and delivered specialist solutions for the interior fit-out of projects in the UAE including the InterContinental Resort Fujairah; Robinson’s Department Store at Dubai Festival City; W Dubai – The Palm; Kempinski Hotel & Residences Palm Jumeirah, Dubai; and the Dolce & Gabbana and Bottega Veneta boutiques in the new Dubai Mall fashion avenue extension.
Leveraging and continuing this success will be Depa Group’s main focus over the next 12 months. “Depa is now focused on the next phase of its strategy: delivering consistent, sustainable top- and bottom-line growth,” says Tyrwhitt.