Abu Dhabi, UAE, 20 March 2013

Arabtec Holding, a leading construction company in MENA specialising in complex projects, announces the appointment of Iyad Abdelrahim as Chief Financial Officer of the  Arabtec's  Group of construction companies, which covers Asia and the MENA region, with effect from 18 March 2013.

Iyad Abdelrahim [will be based in Abu Dhabi] and his financial management responsibilities include Arabtec's portfolio of construction companies (as listed below).  His role will focus on developing a finance department to support Arabtec's construction businesses with financial planning, control, reporting and MIS. It will also manage processes relevant to cost control, project management and update of old policies.   

In announcing the appointment, Hasan Ismaik, Managing Director and CEO of Arabtec Holding, said, "We are preparing for a new phase of growth for the company.  We are very pleased to have Iyad Abdelrahim join the senior management team of Arabtec to ensure that the finances of our construction businesses are managed to the highest standards and that their growth is adequately and efficiently funded. Iyad's appointment comes in line with the company's efforts to employ a group of senior managers with extensive expertise and international track records of achievements. We welcome Iyad to the team, and we will be announcing new appintments in due course."    

Iyad Abdelrahim joins Arabtec from his position as Group Chief Financial Officer of Dubai Properties Group, with 20 years of experience within the banking, contracting and real estate development industries.  He also has a good understanding of Arabtec's construction businesses having previously been the Chairman of Arabtec Holding's Audit Committee and CFO  for DEPA Ltd. Prior to that, Iyad worked in the banking industry with Standard Chartered Bank and Arab Bank in the region.

Iyad Abdelrahim graduated from Wollongong University in MBA and Yarmouk University Majoring in Accounting, Minoring in Banking & Finance from [insert details of uni & higher quals].  [He is married with two children.] 

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About Arabtec Holding
Since 1975, Arabtec Holding PJSC (Arabtec) has completed a number of iconic projects within the residential and commercial space. Projects include hotels, airports, higher education developments, residential buildings and distribution facilities, amongst others. Arabtec is also renowned for its expertise in industrial and infrastructure works including oil and gas, pipeline construction, power generation, marine works and general manufacturing facilities.

Arabtec was listed on the Dubai Financial Market in 2005, and at the time, was the first private construction firm to go public. Today, Arabtec Holding consists of many subsidiaries, with specialisation in all construction sectors. The Company currently operates in the UAE, Saudi Arabia, Qatar, Kuwait, Bahrain, Egypt, India, Jordan, Palestine, Russia and Syria. Arabtec continues to expand into additional markets; Arabtec recognises that this growth presents a new set of challenges but is cognisant of the endless opportunities this growth also allows.

Aratec Holding's Construction Companies include:

Construction contracting
Arabtec Construction LLC

Arabtec Construction LLC (Arabtec Construction) and its market-specific joint ventures currently account for around 70% of the revenue of Arabtec. The company has a strong track record in the areas of high-rise commercial and residential projects, planned villa communities, and infrastructure, including airports and energy installations. Arabtec Construction has joint venture operations in Saudi Arabia, Qatar, Pakistan, Kuwait and India

Mechanical, Electrical and Plumbing
Emirates Falcon Electromechanical Company
Emirates Falcon Electromechanical Co. (EFECO) L.L.C., which is 55 percent owned by Arabtec, supplies electromechanical services to the construction industry in the Middle East through its operations in Abu Dhabi, Doha, Amman and Riyadh. The company supplies electrical systems, air conditioning, plumbing, sanitary works, instrumentations, telecommunication Systems and fire-fighting services for residential and commercial developments.

Oil & gas, power and infrastructure

Target Engineering
Target Engineering Construction Company, W.L.L., which is 60 percent owned by Arabtec, is an EPC contractor that carries out projects in the areas of civil, mechanical and marine construction, as well as providing electrical and instrumentation works for onshore and offshore development. The electromechanical scope of works includes oil and gas process and piping, as well as steel structure fabrication and installation. Major customers include major oil companies and their subsidiaries operating in Abu Dhabi and Qatar, including Abu Dhabi National Oil Company (ADNOC), Abu Dhabi Company for Onshore Oil Operations (ADCO) and Borouge.

Structural steel

Gulf Steel Industries
Gulf Steel Industries (GSI) FZC, a wholly owned subsidiary of Arabtec, is a major provider of steel work, design, fabrication and installation in the Middle East. The company offers expertise in structural steel in a wide range of construction, from power plants, airports, bridges and desalination plants, to high-rise commercial and residential buildings and shopping malls. GSI has built up a loyal client base of blue-chip companies thanks to a highly professional and integrated approach that includes design, detailing, fabrication through to construction and hand-over.  

Concrete to facilities management services
Arabtec owns Austrian Arabian Ready Mix Concrete and has a 49 percent stake in NBK Ready Mix Company Qatar, which both produce and delivers concrete. Further along in the construction chain, Arabtec Precast is a manufacturer and supplier of pre-cast products, while Arabtec Engineering Services carries out infrastructure works, including sewerage, storm water and irrigation works. House of Equipment, which is 66.7% owned by Arabtec, provides for the purchasing and hiring of construction equipment.

In the post construction phase, Arabtec owns minority stakes in Polypod Middle East, which produces kitchen and bathroom pods, and Depa, which specialises in turnkey fit-out and furnishing of five-star luxury hotels, yachts, and apartments. Finally, once a building is complete, Arabtec Envirogreen provides integrated facilities management services.

© Press Release 2013