Reflecting on the past 12 months, our ability to establish and foster strategic alliances has been a key driver of our success. Notably, we joined forces with the Ocean Fair International Group (OFI) to break ground on what will be the UAE’s largest cold storage facility, located at the National Industries Park in Dubai. This venture not only underscores our commitment to enhancing the UAE’s infrastructure but also demonstrates our dedication to addressing the growing demands of the nation.
Our partnership portfolio continues to expand, inclusive of a significant project with global retail giant Amazon. We’re proud to be constructing Amazon’s first super logistics facility in Abu Dhabi, a testament to our capability to deliver large-scale, high-quality infrastructure projects.
In addition, we are working closely with the Landmark Group, currently constructing their new cold storage distribution center, and finalizing their innovative new headquarters. Our collaborative efforts extend to the KEZAD Group at Abu Dhabi Ports, where we are undertaking a substantial development project. Over a span of 3km, we are constructing multiple facilities, including new Light Industrial Units (LIUs), a state-of-the-art fiber line production line, and the innovative Metal Park.
Adding to our repertoire of landmark projects, we are honored to contribute to Zaha Hadid’s legacy by building Arada’s latest leisure facility in their new forest-themed residential hub in Sharjah. Moreover, we have successfully delivered the second phase of the Sarab homes, reflecting our commitment to transforming visions into reality.
As we look to the future, our upcoming projects include developing a new chocolate production facility for IFFCO and designing and constructing a specialized e-commerce logistics center for car parts in Jebel Ali.
These ambitious projects exemplify our dedication to supporting the diversification of the UAE’s economy and our commitment to providing cutting-edge facilities for businesses at strategic locations. As RAQ continues to break new ground, we remain keenly focused on driving progress and delivering excellence in the UAE’s construction landscape.
In the coming year, RAQ is poised to continue its growth trajectory, powered by our dedicated team, robust partnerships, and commitment to delivering excellence in every project.
At RAQ, our foremost asset is our dedicated team. Over the past year, we have reaffirmed this belief by investing heavily in comprehensive training and development programs, sharpening the skills and boosting the productivity of our employees. Our commitment to fostering a nurturing and progressive work environment has been recognized with a second consecutive honor from Taqdeer. This prestigious acknowledgment from the Dubai Government, which focuses on the welfare and development of our workforce, is a testament to our dedication to our team. We take immense pride in this recognition, as it validates our ongoing efforts to ensure our workforce thrives.
Over the preceding ten-month period, we have successfully executed a portfolio of key projects, each reflecting our unwavering commitment to creating infrastructure solutions that cater to the UAE’s evolving needs. Our project spectrum has been diverse, including logistics hubs, distribution centers, manufacturing facilities, cold storage units, leisure, commercial, residential and special projects.
Our partners in these ventures represent some of the most respected names across various sectors. They include Dubai South with FedEx, for whom we built the MENA hub at the Dubai World Central Airport, Amazon, whose E-commerce distribution hub in Abu Dhabi, and Landmark Group for whom we’re building 2 projects including their new upcoming headquarters in Jebel Ali, Ocean Fair International Group, IFFCO, KEZAD (AD Ports), Emtelle, and Metal Park. These collaborations speak volumes about our capabilities and the trust industry leaders place in us.
Reflecting on our trajectory from 2022, our strategy was firmly focused on thriving within our established markets while progressively expanding into new territories. As we transition into the current year, we observe a highly promising growth trajectory. We are solidifying our value proposition in the industrial segment, serving as the indispensable foundation for the successful operations of leading brands in the UAE.
Our confidence in the region’s potential remains robust, with projected revenues and this estimation is primarily anchored in the current market sentiment. Macro-economic shifts have led to a sustained rise in commodity prices, prompting clients to seek out contractors with distinctive engineering capabilities and a bespoke approach to project execution.
Simultaneously, we are conscious of the inflationary concerns permeating the global economy. Recent surges in inflation have been a cause for concern across industries. However, there may be an easing on the horizon as the Federal Reserve signals a potential deceleration in their interest rate hikes.
This development could introduce a degree of variability into our financial projections. But, as the economic landscape continues to evolve, we remain vigilant and adaptable, prepared to adjust our strategies as necessary to ensure sustained growth and stability. Our fiscal stewardship is guided by a balance of cautious optimism and prudent planning, ensuring RAQ’s resilience amidst economic fluctuations.
We firmly believe that the era of generic tenders is giving way to a growing demand for specialty contractors with a strong design and build capacity. This shift towards more personalized, client-focused solutions aligns with our core competencies, positioning us well to meet these evolving market demands.