Hadeed Emirates in contracts worth Dh575m despite crisis

Hadeed Emirates, a UAE building materials company, yesterday reported a busy period in 2008 after it signed deals worth Dh575 million. It is also considering opening new offices in a number of regional markets.

The Abu Dhabi-based private venture firm, said the deals covered 15 companies in the UAE and new deals worth Dh400m had just been finalised with some companies despite the global financial crisis.

"Recently we also signed several new contracts for strategic projects in the industrial sector in the emirates of Abu Dhabi, Al Ain and the Northern emirates, to be delivered and start operations towards the end of this year for an investment cost of Dh400m," said Sameer Dabbas, Executive Director of Hadeed Emirates.

"Of these projects we expect to deliver eight major industrial establishments in the industrial cities of Abu Dhabi, Dubai and Ras Al Khaimah."

He added that the construction of Abu Dhabi Business Hub – a commercial and warehousing project – utilised the latest technologies applied in the contracting sector with a total investment cost of Dh200m, including a number of advanced industrial facilities extending on an area of 80,000 square metres.

"Another landmark was the delivery of Ducab's industrial plant in Abu Dhabi last year for a total investment cost of more than Dh200m."

According to Dabbas, handling the current global financial crisis represents the most important challenge facing UAE companies in the coming two years.

"To that end, Hadeed Emirates has endorsed plans and programme budgets designed for these special circumstances through the reduction of operational costs," he added, expecting the crisis to recede towards the end of this year.

Hadeed Emirates was established in 2001 and employs more than 200 staff and 2,000 skilled workers in its three offices in Abu Dhabi, Dubai and Ras Al Khaimah.

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