City Tower complex, Ajman ... nine towers.
RP group racks up $620m deals
01 June 2015
Gulf Asia Contracting, part of the multi-billion-dollar RP Group, has won more than Dh2.28 billion ($620 million) worth of civil and industrial construction contracts in the UAE emirates of Ajman and Dubai, making it a significant player in the industry.
Emphasising that Ajman is an affordable destination and increasingly attracting first-time home owners and investors, an official says the company strongly believes in the sustainability of the emirate.
“Gulf Asia Contracting is currently working with the Ajman Real Estate Investment Company to construct several residential landmark projects in Ajman which we believe are symbolic of the aspirations of a new generation,” says Vinod Pillai, group general manager, RP Group. “Gulf Asia Contracting works closely with local companies and partners to provide valuable industry expertise.”
The combined estimated worth of all six Gulf Asia Contracting projects in Ajman is Dh1.78 billion ($488 million), making it one of the biggest contractors to operate in Ajman. Furthermore, these buildings together occupy significant prime real estate in the emirate.
Pillai believes with its proximity to Dubai, Ajman could be a major future destination for business and leisure. Ajman tourism revenues reached nearly Dh300 million ($81.68 million) in 2014, compared to Dh220 million ($59.9 million) in 2013. The number of guests in hotel and hotel apartments in 2014 increased to 850,000, compared to about 600,000 in the previous years.
Key Ajman projects for Gulf Asia Contracting include the nine-tower City Tower complex, which includes a ground level, a four-storey podium and 20 upper levels; the seven-tower Ajman Corniche Residence, which comprises a basement level, ground level, a six-storey podium and 32 upper levels as well as a health club; Yasmeen Tower, which has a ground floor, four-level podium and 15 floors; and the twin-tower Oasis Towers, featuring a ground level, six podium levels and 30 floors.
The Ajman Bank headquarters (Al Sanad Project) is another Gulf Asia Contracting project that was recently inaugurated.
Gulf Asia Contracting has also won key hospitality projects in Dubai, including a five-star luxury hotel in Dubai Marina to be operated by Crowne Plaza (Intercontinental Hotels Group). It has also recently completed a high-end four-star hotel in Bur Dubai, a four-star hotel apartment building in Tecom and several high-end villa projects. The organisation has a strong presence in Dubai, Abu Dhabi, Sharjah and Ajman.
Elsewhere in the Gulf, Gulf Asia Contracting has already built several high-profile residential and commercial buildings in the Gulf, including the French Embassy in Riyadh, says Pillai.
He says the group’s focus will remain on optimising resource use, maximising productivity and bringing truly world-class project development skills to the region.
Since its inception in 2002, Gulf Asia Contracting has undertaken major projects such as petrochemical plants, oil refineries, gas and power, infrastructure related developments and various prestigious building projects. With over 10,000 staff, and ISO 9001:2008 and Ohsas 18001:2007 certified safety standards, the company has become a powerful player in the construction industry all across the GCC.
