A local contracting joint venture is preparing for plans to build new prison facilities by the Abu Dhabi Government.
Al Fara'a General Contracting, one of the capital's oldest construction firms, and Wates Group, a family-owned UK contractor that set up office here last year, said they were gearing up for tenders worth hundreds of millions of dirhams to build the facilities.
"We see a big opportunity," said James Wates, the deputy chairman of Wates.
The Government has bolstered the order books of local contractors during the property downturn with billions of dirhams worth of schools, hospitals and universities.
While profit margins have been squeezed, many of these companies have seen their orders shift away from the private development of homes and offices.
Developers such as Aldar Properties and Sorouh Real Estate have delayed plans for future projects to focus on existing buildings.
A new sector is emerging for police and prison facilities, said Dr Jawaharlal Gangaramani, the president and executive chairman of Al Fara'a.
"Custodian centres are coming in a very big way," Dr Gangaramani said. "All of these facilities are approved and on a fast track. Some of the specifications we have never heard of in this part of the world, especially with sensors and how to monitor the prisoners in a very high-tech way."
Tenders are yet to be issued by the Abu Dhabi Police Department, but there are plans for a single major facility and a range of smaller ones for short-term incarceration.
"My understanding is that as Abu Dhabi really measures up to global standards as to the way it is, it is wanting to enhance everything it does," said Mr Wates.
A rising population in line with the Abu Dhabi Plan 2030 roadmap for development will also require larger facilities, he said.
The joint venture between Wates and Al Fara'a also plans to pitch for more school projects, which are growing at a faster rate than previous years.
It is already building the Dh150 million (US$40.8m) Al Bateen School, which will accommodate up to 1,120 students and is due for completion next year, as well as a Dh65m extension and upgrade of existing facilities at the British School Al Khubairat.
Mr Wates said his company planned to increase its revenues from Abu Dhabi, its only foreign outpost, to between £100m (Dh590m) and £130m by 2014. That would represent between 5 and 7 per cent of its total revenues.
In the UK, the company is expecting a cut of public sector spending after austerity measures announced by the government. Some 70 per cent of its projects are now related to the UK government, he said.
Despite the downturn, Dr Gangaramani said Al Fara'a had increased its revenues from last year. He said the key for a long-term business in the region was to not always focus on profits.
"The profit margins may get a little bit hit," he said. "But it cannot be about the bottom line all the time. This weather will change within another one year. Every five years, there is a cycle everywhere. As long as we are not taking on leverage and any risk is taken in an affordable manner, things will go well."
The company is focusing on "special opportunities" and civic projects, added Dr Gangaramani.
bhope@thenational.ae
COMPANY PROFILE
Name: Almnssa
Started: August 2020
Founder: Areej Selmi
Based: Gaza
Sectors: Internet, e-commerce
Investments: Grants/private funding
The Sand Castle
Director: Matty Brown
Stars: Nadine Labaki, Ziad Bakri, Zain Al Rafeea, Riman Al Rafeea
Rating: 2.5/5
German intelligence warnings
- 2002: "Hezbollah supporters feared becoming a target of security services because of the effects of [9/11] ... discussions on Hezbollah policy moved from mosques into smaller circles in private homes." Supporters in Germany: 800
- 2013: "Financial and logistical support from Germany for Hezbollah in Lebanon supports the armed struggle against Israel ... Hezbollah supporters in Germany hold back from actions that would gain publicity." Supporters in Germany: 950
- 2023: "It must be reckoned with that Hezbollah will continue to plan terrorist actions outside the Middle East against Israel or Israeli interests." Supporters in Germany: 1,250
Source: Federal Office for the Protection of the Constitution
Cultural fiesta
What: The Al Burda Festival
When: November 14 (from 10am)
Where: Warehouse421, Abu Dhabi
The Al Burda Festival is a celebration of Islamic art and culture, featuring talks, performances and exhibitions. Organised by the Ministry of Culture and Knowledge Development, this one-day event opens with a session on the future of Islamic art. With this in mind, it is followed by a number of workshops and “masterclass” sessions in everything from calligraphy and typography to geometry and the origins of Islamic design. There will also be discussions on subjects including ‘Who is the Audience for Islamic Art?’ and ‘New Markets for Islamic Design.’ A live performance from Kuwaiti guitarist Yousif Yaseen should be one of the highlights of the day.
Vidaamuyarchi
Director: Magizh Thirumeni
Stars: Ajith Kumar, Arjun Sarja, Trisha Krishnan, Regina Cassandra
Rating: 4/5
Other workplace saving schemes
- The UAE government announced a retirement savings plan for private and free zone sector employees in 2023.
- Dubai’s savings retirement scheme for foreign employees working in the emirate’s government and public sector came into effect in 2022.
- National Bonds unveiled a Golden Pension Scheme in 2022 to help private-sector foreign employees with their financial planning.
- In April 2021, Hayah Insurance unveiled a workplace savings plan to help UAE employees save for their retirement.
- Lunate, an Abu Dhabi-based investment manager, has launched a fund that will allow UAE private companies to offer employees investment returns on end-of-service benefits.
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MANDOOB
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