Company: China State Construction Engineering Corporation
Designation: Middle East CEO
For the past 11 years, Yu Tao has been in charge of China State Construction Engineering Co’s operations in the Middle East. In 2004, he moved from Singapore to Dubai to oversee the company’s activities at the Palm Jumeirah project. Since then, Tao has helped to leverage strong resources and experience, winning a selection of technically-difficult and challenging projects.
CSCEC expects to achieve revenues of $500m in 2015, a 16.5% increase on last year. It has 12 mega projects under construction across the region, with an estimated total value of $2.45bn.
The company is actively involved in the UAE’s construction industry, carrying out many flagship projects, including the $163m (AED600m) Palm Jumeirah Garden, $163m (AED600m) Mirdif Apartments, $410m (AED1.5bn) City of Lights, $245m (AED900m) Viceroy Hotel, and a host of other projects within the Emirates.
Over the next 12 months, CSCEC will be involved in a number of other initiatives, including work at Abu Dhabi International Airport’s Midfield Terminal Building, the South Shamkha Infrastructure at Abu Dhabi lot 3, and the National Bank of Kuwait’s new high-rise headquarters.
In addition, CSCEC views the fall in global oil prices as an opportunity to engage in more public-private partnerships. Commenting on the commercial benefits that it can offer, a spokesperson said: “We’re a Chinese, state-owned enterprise, which means the company could help local partners with financing and investment by introducing bank funds from China.”