Thursday 1 January 2015

Having an open approach is the lesson of Arabtec | The National

Having an open approach is the lesson of Arabtec | The National:



"Arabtec was going to be something new – an Emirati conglomerate. Its interests would span the globe, providing construction and engineering expertise hand in hand with some of the world’s biggest and most profitable companies.



Its shareholders would reap all the rewards from plans laid out last year by the then-chief executive Hasan Ismaik, and backed by major shareholder Aabar Investments, which evoked pre-crisis ambitions –the blue print would transform the builder of the Burj Khalifa from a big player in a small market to a global leader.



Last year began with a bang. Besides working on highly technical projects around the region, Arabtec was going to be a developer, committing to build a slew of towers in the UAE and a staggering $40 billion deal for 1 million homes in Egypt."



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