The annual list of the Middle East’s Top 60 most prominent contractors, real estate developers, consultants, facilities management companies features more than 11 new entries from across the region, putting in the spotlight the current improving outlook of the sector. These new entries have altered the entire corporate dynamics of the Power Hour 2019.
We reveal who got placed from Ranking 16 to 20 below:
16. PNC Menon, Founder and Chairman of Sobha
In line with their mandate, Sobha Realty looks at delivering exceptional products and services like no other to their clients and all operating markets. This vision has helped Sobha to successfully expand the Group across all their subsidiaries, and now has a presence in 24 cities and 13 states across the subcontinent.
For the Dubai market, Sobha Realty has worked towards the success of two iconic projects – Sobha Hartland, which is a US$4 billion mixed-use luxury development and District One, which is a US$ 8 billion joint venture with Meydan Group. As one of the foremost backward-integrated real estate organisations in the region, these projects are led by the guiding principal of simplicity of design and the generosity of space.
PNC Menon said: “During the period under review, we have successfully completed the on-time delivery of several projects within Sobha Hartland. Sobha Realty is a trusted name in real estate, as we deliver projects on time, creating spaces that shape human lives and redefine urban communities.”
Several phases of Sobha Hartland have been completed to date, including Phase 1 of Hartland Greens Apartments, a 167-unit development comprising six retail shops. The master-plan is currently on schedule, with main infrastructure works – being carried out by Sobha Hartland Contracting’s infrastructure division – 83% complete.
“We have seen a huge success along with a strong track of directing large scale and complex mixed-use real estate developments from inception to completion. On a personal level, I have always envisioned myself in the real estate industry. Marking almost five decades in the building industry, it has been an exploratory experience for myself and for the creation of Sobha Realty,” said PNC Menon.
Currently, Sobha are third-largest real estate development company India in terms of total square feet delivered and the world’s only backward-integrated real estate development company.
“The journey is never-ending, and we anticipate and look forward to many more accomplishments in the coming future,” PNC Menon concluded.
17. Tariq Chauhan, Group CEO of EFS Facilities Services
In the last ten years of chairing the position as the Group CEO of EFS, the Company is spearheaded by principles of leadership that promote a Culture of Excellence supported by a People’s First Approach.
During this tenure, EFS have struck an optimum balance between developing leadership competencies whilst boosting blue-collar capabilities within EFS be it engagement driven programmes to boost employee productivity or equal and rigorous training and development and equal opportunities for employees to upgrade skills.
EFS believes in a stringent performance management system committed to developing a race of young leaders from various walks of life who are also boosted by well-structured talent programs tailored for millennials and gen z, among others.
As per the Self Introspection scorecard, the level of satisfaction towards the alignment of the strategic direction of the Company as well as leadership is nearly close to 83% in the last year.
The company’s mantra of “Lead by Example” and “Walk the Talk” has helped to effectively lead, manage and communicate through the adoption of the EFS’ Engagement Matrix and 360-degree feedback.
Tariq told Construction Business News: “EFS has also redefined its focus on people, passion and precision and integrated the mantra: People, Systems, Structures with over 4,000 diligent FM professionals solely in the UAE and is continuously growing with the increasing landscape of our business. EFS has risen as a leader in Integrated Facilities & Infrastructure Management services solutions with a sustained growth year on year in double digits and crossing the US$ 1Billion in contracts.”
EFS also keenly engages with large government institutions in the region & international bodies such as IFMA, RICS to strengthen the case of worldwide Facilities & Infrastructure Management. EFS is a very engaged brand in local and international publications and global media offering thoughts and insights on areas such as business management, infrastructure, facilities management in built environments, challenges in the global FM industry, the welfare of the blue collared workforce and community at large.
EFS is among the most sustainable brands in the FM space having being ranked by FORBES among the Top 50 Private Companies in the UAE and awards such as ‘Sheikh Khalifa Excellence Award’, ‘Taqdeer Award’, Best FM Company for the years 2012, 2013, 2017 & 2018. And have been ranked by FORBES consistently amongst the Top 10 CEOs over the past five years.
18. Ramy Boufarhat, COO of JLW Middle East
Ramy Boufarhat is the Chief Operating Officer (COO) of James L Williams Middle East (JLW) and oversees all ongoing business operations.
JLW is an Australian MEP Contractor operating in the Middle East who is well known for being reliable, very competent in engineering, and focused on quality of installation and commissioning. The industry regards them as an elite Tier 1 MEP Contractor.
A Design & Build (EPC Contracts) specialist, half of JLWs turnover is D&B/EPC and the other traditional build-only. In 2018 JLWs revenue was AED 700M which makes it one of the larger MEP contractors in the UAE.
Michael Boufarhat, the Chairman and CEO of JLW collaborated with Allen Williams to establish JLWs presence in the Middle East in 2008. Michael encouraged his sons to join the business early on and as their mentor inspired them to strengthen, grow and operate the business.
Ramy arrived in the UAE in 2009 from Australia where he lived the most of his life having worked as both an engineering consultant and a contractor. Before his post as COO, from 2009 to 2012 Ramy held the position of Engineering Manager and played a vital role in establishing one of JLWs core strategic competencies, its engineering excellence.
JLW has an impressive collection of high profile projects that are completed and currently in construction, these projects are based in the UAE. Some of the current project JLW are working on is Dubai Expo 2020 with Al Futtaim Carillion for Expo 2020; Masdar Neighbourhood 2 with Six Construct for Mubadala; ICD Brookfield Tower with Multiplex Ssangyong JV for ICD Brookfield JV; Bluewaters Hospitality with Multiplex for Meraas; Al Maryah Central with Multiplex for Gulf Related and Dubai Mall Za’abeel Expansion with Dutco for Emaar.
19. Yousef Bin Abdullah Al Shelash, Chairman of Dar Al Arkan
Based in Riyadh (KSA), Dar Al Arkan is a public shareholding company listed on the Saudi Stock Exchange (Tadawul). With SR10.8 billion in capital and SR26 billion in assets, we are one of the leading real estate companies in the Middle East.
Since 1994, Dar Al Arkan has had a significant influence on the real estate development sector in Saudi Arabia. The company has invested in innovative residential solutions, which resulted in the development of 15,000 housing units and 500,000 sq.m of luxury retail space.
By collaborating with experts from around the world, Dar Al Arkan achieved international success, becoming the largest real estate developer in Saudi Arabia.
While Dar Al Arkan runs diverse operations, real estate development remains the focus of its business. The company has succeeded in establishing new standards for commercial, residential and mixed-use projects; designed for a progressive lifestyle and delivered on time while following the best international standards in construction and maintenance.
In statement on the company’s website the chairman said: “Since our beginning, Dar Al Arkan has a proven track record in the industry, with many a milestone achievement that we take pride in.”
20. Rahail Aslam, CEO of Select Group
As Founder and CEO, Rahail has taken Select Group from a nascent property developer to one of the largest, multi-disciplinary, privately-owned property development and real estate investment companies in the GCC, with interests expanding to the UK and Europe.
Under his leadership, Select Group now has a combined development portfolio of 19.5 million square feet, worth GDV of AED 17 billion. A driven individual with a strong belief in value creation, cost leadership and efficiency, Rahail has brought together a management team with the same ethos who can deliver his vision for constant improvement and wealth creation for both customers and stakeholders.
Two of Select Group’s projects revolve around Jumeirah Living Marina Gate, the third and final tower in the triumvirate project is scheduled for completion in Q2, 2020 and also Studio One which is spread over 31 floors and 400 residential units, Studio One is Select Group’s 14th residential development in Dubai Marina with 489,223 ft2 built up area. Located in the heart of the up and coming west-end of the Dubai Marina, Studio One has GDV of over AED 500 million.