Company: Al Shafar General Contracting
Al Shafar General Contracting’s president, Emad Azmy, sees a “promising future” for his firm following the announcement that Dubai is set to host the Expo 2020.
Azmy told CW that the company has entered the hotel construction market “in a big way” in recent years, having completed the Waldorf Astoria at Dubai’s Palm Jumeirah for Al Habtoor Group in December last year, and it expects to pick up many more, with Dubai’s hotel market set to boom in the run-up to the event.
Perhaps its most high-profile site in terms of visibility is The Onyx – the major mixed-use office, residential and hotel tower cluster being built at Sheikh Zayed Road next to The Greens Business Park.
ASGC, which employs just short of 7,000 staff, is also currently working on the $340mn phase 2 of Meraas Holding’s City Walk mixed-use scheme in Jumeirah, where it is putting up a further 21 buildings, and phase 2a that will house residential blocks.
It is also building itself a new, $115mn office tower that will contain its own headquarters in Dubailand.
“The effects of the economic downturn have faded and given way to a promising future,” said Azmy.
“With Dubai winning the rights to host Expo 2020, I am confident that it will give an impetus for further economic development.”