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Wednesday, November 25 - 2009

Arabtec Holding PJSC achieves Dhs761m profit for the first nine months of 2008

  • United Arab Emirates: Wednesday, October 22 - 2008 at 12:12
  • PRESS RELEASE

Arabtec Holding PJSC has achieved a consolidated profit of Dhs761m for the first three quarter of 2008, compared to Dhs343m achieved during the corresponding period in 2007, an impressive increase of 122%.

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  • Mr Riad Kamal, CEO of Arabtec.
    Mr Riad Kamal, CEO of Arabtec.
The company also announced that the Group consolidated revenue, for the same period have increased to Dhs6.4bn compared to Dhs2.8bn registered in the first three quarters of 2007, an increase of 129%

Arabtec Holding's CEO Riad Kamal stated: "The increase in Arabtec Holding's profit is due to the increase in the consolidated revenue and maintaining the net profit percentage. This has resulted from the careful expansion strategy implemented by Arabtec and the selected acquisitions completed which, focused on complementing our expertise. It was also due to proper integration of our large scale operations and managing efficiently the large resources required for our successful construction activities. Arabtec adopted a strategic plan over the past few years which aimed to diversify our projects portfolio revenue mix without compromising on safety or quality and delivering on schedule"

He added:
"Arabtec holds a leading position among the region's largest construction companies, with projects in the UAE, Russia, Qatar, Jordan, Syria and Pakistan."
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About Arabtec:
Arabtec Holding PJSC, formerly known as Arab Technical Construction Company PJSC, is a Public Joint Stock Limited Liability Company formed in 2004 to invest in the contracting sector through establishing, acquiring and owning shares in construction related companies in the UAE and abroad. Arabtec Construction LLC, Austrian Arabian Ready Mix Concrete Co. LLC and Arabtec Pre-cast LLC are wholly owned subsidiaries of Arabtec.

Arabtec Construction Company LLC, the company behind the world renowned and iconic Burj Dubai are widely recognised as one of the top construction companies in the UAE. Arabtec Holdings was formed to invest in the construction sector with a view to benefit from the unprecedented construction boom that is expected to continue over the next few years.

The company relies on a highly motivated management team with vast experience in the contracting sector. Mr Riad Kamal, a founding shareholder, has overseen the development of several construction projects in Dubai and Abu Dhabi since 1975, many of which are considered landmarks in the UAE and soon to be recognised worldwide. Some of these buildings and landmarks include the Jumeirah Beach Residences, Al Mazaya Sky Gardens, Emirates Hills Developments as well as DIFC Gate Village.

For more information, please contact:
Mustafa Al Khafaf
SAHARA Public relations
+9714 3298996

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