Ali Ghaleb Jaber:Piling Tech's total investments reach 300 Million despite youth in the market
Ajman- April 1st, 2008: Tech Group, one of the leading firms at the forefront of the development taking place in Ajman, has announced aggressive plans to tap into Sharjah and Abu Dhabi.
"The new plans fit within our ambitious strategy to expand our investments and reach out to other emirates after having secured a large chunk of property investments in Ajman," said Tech Group CEO Mr. Ali Ghaleb Jaber.
"The move also coincides with our efforts to boost our infrastructure by recruiting the services of leading firms, such as Deloitte and Sun Insurance, which two companies were recently named as the Tech Group's financial and insurance brokers respectively."
Tech Group is the parent company to a group of companies specializing in various construction and development related industries, including Construction Tech, Remix Tech, Aluglass Tech, Block Tech and Piling Tech, among others.
"We have achieved AED 52m worth of profits in 2007, a record figure for a fledgling company. And we expect to double our profits by expanding into the country's promising markets in Abu Dhabi and Sharjah," Mr Jaber added.
On his part, Dr Abdul Khaleq Sultan, Piling Tech General Manager, said, "Though only established in 2003, Piling Tech's investment volume reached AED 300m and our equipment is on a par with that owned by leading global companies working in our field."
"Our equipment and expertise enable us to access major projects . And in keeping with our ambitious strategy, we plan to double our manpower to reach 500 by the end of this year," concluded Dr Sultan.
Piling Tech is one of the fastest growing piling corporations in the UAE, making a significant contribution to the large-scale urban development drive witnessed countrywide.
Having completed 25 projects worth AED 125m in Emirates City, one of Ajman's leading mega projects, the sky is the limit for the blooming corporation whose total investment portfolio boasts a total of 120 projects underway in Ajman, five projects in Dubai worth AED 20m and an array of distinguished developments in Sharjah valued at AED 10-15m.
Featuring high in their investment portfolio is the AED 52m Ajman Pearl Residence, a sold out project that sets a new standard of luxurious living. The first freehold property in Ajman, this residential complex is removed from the frenzied lifestyle of urban cities and yet near to abundant economic opportunities; an AED 21m project with Tameer; and the AED 51m Ajman 1 being developed by Aqaar, Piling Tech's latest project, which was completed on 28 January 2008.
-Ends-
About Tech Group:
Headquartered in Ajman, The Tech Group is developing groundbreaking projects right across the United Arab Emirates, taking a leading role in the development of the UAE's construction sector. It is an umbrella organization for several of the UAE's top construction companies: Construction Tech, Remix Tech, Piling Tech, Aluglass Tech, Block Tech, Wood Tech, and Ceramic Tech. Construction Tech is a preconstruction and construction firm, currently developing projects across the country. Remix Tech is one of the ready-mix industry's most successful firms, boasting several plants in Ajman and having already supplied over 450,000 cubic meters of material. Block Tech has garnered a reputation as one the fastest growing concrete manufacturers in Ajman with the development of several of the UAE's mega-projects and stand-alone towers, while Aluglass Glass and Wood Tech are two of Ajman's leading Aluminum, Glass and Wood firms.
About Piling Tech:
Established in 2003, Piling Tech, an Ajman-based Tech Group subsidiary, is one of the fastest growing piling corporations in the UAE, making a significant contribution to the large-scale urban development drive witnessed countrywide. Having completed AED 500m worth of projects in Emirates City, one of Ajman's leading mega projects, the sky is the limit for the blooming corporation whose total investment portfolio boasts a select of 120 projects underway in Ajman, 5 projects in Dubai worth AED 20m and an array of distinct developments valued at AED 10-15m in Sharjah. Part of a range of projects currently under development and which have been designed to expand and augment the economic advancement of Ajman, the Emirates City is being built at a cost of AED15b, with Piling Tech providing the piling work of 40 towers, 24 of which have been finished at a cost of AED 125m.
For more information, contact:
Mustafa Al Khafaf
SAHARA PR
+9714 3298996
mustafa@saharagcc.com
www.saharagcc.com
Press Release 2008
