Ajman-based construction group eyes opportunities in MEP sector
Tech Group, the Ajman-based construction conglomerate, will move into the Dubai construction market as part of its five-year growth plan, the group’s CEO has said.
Speaking during an interview with Big Project ME, Shiraz Hasan said that the company, which is already a major player in Ajman and the Northern Emirates, intends to move into the Dubai market as it grows in capacity and size, and off the back of several major MEP contract wins.
“Dubai has become a major focus for us as a group. As we’re adding more capacity and as we’re growing, we’re hungry for more work. Dubai is a major market for us, and our MEP section has secured more than a couple of hundred million dirhams of work in Dubai,” he explained.
“Tech Construction is to follow next – we’re trying to work out the licensing requirements and all, to set up our base in Dubai. Our other entities have already been involved [in projects in Dubai], and they’ll continue to stay involved and look for more market share.”
Despite these ambitious plans, Hasan also acknowledged that there are presently several challenges facing new entrants into Dubai’s construction market. While he believed that there would continue to be construction projects to bid on, he stressed that it was crucial for Tech Group to pick the right partners for their expansion.
“There are issues in the market. We know that the liquidity situation is not very good and that a lot of contractors have payment issues. That’s something we’re totally aware of – and when we’re going and bidding for new projects, we’re going to be cautious and carefully select the developers and clients that we want to work with.
“The risks are there, but we have to have more of a conservative approach. We don’t like to overexpose ourselves,” he asserted.