Company: Saudi Baytur
Murat Giray sees plenty of promise in the Saudi construction market for his firm, which is a partnership between Turkish contractor Baytur Insaat Taahut and Saudi firms Azmeel Trading & Contracting and Tanami Construction set up in 2008.
Saudi Baytur is coming to the completion stage of its largest contract, the King Khalid University Medical Campus in Abha, which includes an 800-bed teaching hospital, administration buildings and a conference centre. The firm has also continued to deliver a project for non-industrial buildings with the Aramco-Sumitomo JV at the Petro Rabigh refinery project and a contract for a 100,000m2 commercial centre and four hotel towers in the Jabal Omar Development Project in Makkah.
Saudi Baytur’s capital has increased by $17.3mn in 2013 with a view to funding expansion. The company achieved its financial targets last year and recruited staff at various levels, as well as acquiring several tower cranes and other large machinery. It has also entered into a number of project-specific JVs with firms such as Hyundai E&C, Leighton Middle East, Azmeel Contracting, CMC di Ravenna and STFA Insaat to bid for airport, medical city and public transport projects.
Giray said: “I see the future of the construction industry in the Kingdom as promising, with the major challenge being successfully meeting the increasing demand for labour, supply resources and project financing as more large projects are tendered – along with an elevating competition on prices between the key players.”