Sunday, May 30, 2010

Shaikhani Contracting aims to secure domestic contracts worth AED 60 million this year

Shaikhani Contracting aims to secure domestic contracts worth AED 60 million this year

Company gears up to leverage correction in the real estate market

May 30, 2010

Shaikhani Contracting, a leading contracting company in the UAE and part of the Shaikhani Group, a multibillion dollar international business conglomerate with interests in real estate development, trading, manufacturing and IT, announced that it is aiming to secure domestic contracts worth AED 60 million this year. Underlining its confidence in the construction sector’s capacity to regain momentum and confidence, the contractor expressed its high hopes for growth and expansion alongside its plans to leverage the correction in the real estate market. Having successfully achieved growth amidst the transformation of the global real estate industry and the effects of the economic downturn, the company has recently been awarded a contract to undertake the construction of private villas in the Al Khawaneej Area in Dubai, UAE.

As part of the contract, Shaikhani Contracting has been awarded complete civil works, including external finishes and landscaping as well for these villas, which are scheduled to be completed in a span of one year. With aims to leverage these new projects to secure more business, the company is focusing on finding and providing the best services to discerning clients who seek to capitalise on their investments irrespective of the current market conditions, whom the company considers as its primary target market. In addition, the contractor is currently looking to hire more engineers and technical staff, amidst projections that 26,650 apartments and villas will be handed over in Dubai this year as the region enters a recovery phase.

“Our vast experience in the real estate market had enabled us to identify the indications of the impending correction in the real estate market, and as such, we are accordingly prepared to maximise the available opportunities as the current economic situation continues to ease up,” said Rizwan Shaikhani, Managing Director, Shaikhani Contracting. “For all the new projects, all our efforts will be directed towards offering a sense of confidence to our clients, which we believe will attract new businesses to come our way. We have also further strengthened and realigned our strategies to focus on providing clients excellent service combined with value for their money in terms of quality and time-bound construction schedules.”

The contracts for the private villas have been awarded by Adnan Saffarini, the Project Consultants, and mark the first two deals in the contractor’s goal of securing domestic contracts worth AED 60 million in 2010. Primarily focusing on residential and commercial villas and townhouse projects, Shaikhani Contracting is aiming to kickstart construction of several new projects in the second half of 2010. Both Shaikhani Building Contracting and Shaikhani Developments are part of the Shaikhani Group’s recent rebranding initiative, which was the result of a renewed strategy for growth that involves a more proactive approach to building processes, creating partnerships and providing services while remaining focused on timely delivery and topnotch quality.

About Shaikhani Contracting
Shaikhani Contracting is a proud subsidiary of the international business conglomerate, the Shaikhani Group. The company leverages its parent company's 30 plus years of expertise in the real estate market, and incorporates the Group’s emphasis on exemplary client servicing in delivering a wide array of services, including HVAC and MEP; glass, aluminium and cladding works; joinery, metal and cabinet, civil, flooring works; and insulation contracting. Furthermore, it boasts a prestigious UAE portfolio including residential, commercial, and mixed-use projects in prime locations in the Emirate. The organisation's keen eye for detail and passion for invention are its most essential assets as it aims for further growth and expansion across the region.

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