Company Report: Al Abbar Group
Al Abbar Group: Opportunity oasis Rashid Al Abbar of the Al Abbar Group, tells Exec Digital that the UAE has long been an oasis of opportunity from which some of the region's biggest companies have sprung

Globally, 2008 will be remembered for all the wrong reasons. Be it bankruptcies, bailouts or bad predictions, the financial landscape has been littered with unwanted souvenirs. Certainly, financial headlines did not make comforting reading as we saw off a difficult 2008, and we welcomed 2009 with some apprehension regarding the fiscal future.
"Unlike most, we can look back on 2008 as a success," says Rashid Al Abbar.
"For Al Abbar Group, 2008 was a continuation of the company's successful performance in the previous years," he adds. "A number of new projects were secured at the beginning of 2008 and a couple of projects more at the year end. Moreover, a number of projects were completed, which further strengthens the company's portfolio and market standing."
Dubai-based Al Abbar Group, a firm which many feel has helped to put Dubai on the map, was established in 1959 by current Chairman Mr Rashid Al Abbar. Today, it consists of seven operating groups: Al Abbar Aluminium; Al Abbar Architectural Glass (AAG); Al Abbar Stainless Steel Co; Al Abbar Coatings; and Al Abbar Philippines Inc and Al Abbar Metal and Glass, India.
"For nearly half a century, the company has seen continued growth," says Rashid Al Abbar.
Earlier major Al Abbar Group projects include the Burj Al Arab, Emirates Towers and Dubai International Airport Concourse 1. "Perhaps the biggest achievement for the company in 2008 is the completion of Dubai International Airport's Terminal 3, Concourse 2," says Al Abbar. "The company played a major role here as the cladding contractor of this high profile project.
Other projects include the cladding for the Burj Dubai Podium and Annexes, Dubai World Central's Dubai Logistics City, The World Trade Centre Residence, Mall of the Emirates skylights, City Gardens in Bahrain and a number of new towers that added to Dubai's skyline. "Another event in 2008 worth noting is the award for Dubai Airport's Concourse 3, which completes the expansion programme for this development."
Achievements like these contribute to the company's extensive capabilities, reinforcing the name Al Abbar in the curtain wall industry.

A glass act
Al Abbar's commercial glass-division - Al Abbar Architectural Glass (AAG) - is enjoying huge success. Intended to serve the construction market as an autonomous glass-processing company to customers in the UAE, GCC and various export markets, AAG uses the most up-to-date glass-processing equipment to guarantee top quality end-products that are used extensively in curtain-walls, doors, windows, skylights, balustrades and frameless assemblies.
"Al Abbar is well known for its curtain wall activities. Its glass division, AAG developed a range of selective high-performance low-emissivity coated glass products using exclusively Glaverbel technology," says Michael Commarmond, General Manager AAG.
"These products - CoolRay, CoolPane and e-Cool - have been used in a number of major architectural developments in the country. It won the confidence of architects, specifiers and developers.
"Our new offering, combined with the increasingly global nature of the glass industry, will allow Al Abbar Architectural Glass to not only increase production capacity and product lines, but also expand its geographical operations; to serve customers outside the Middle East," he says.

Oasis running dry?
The UAE has long been hailed as an oasis of opportunity. However, the value of construction contracts awarded in the UAE fell by 85 percent in the fourth quarter of 2008, compared to the same period in 2007, as the global credit crisis rendered project financing a struggle, according to estimates from London-based weekly Middle East Economic Digest.
Around $23.2 billion worth of projects have been put on hold, almost 10 percent of the $249.7 billion of projects under construction in the UAE. But don't forget, that still leaves around $226.5 billion worth of projects.
"Before the financial crisis broke out in October 2008, Dubai and perhaps the Middle East was enjoying a booming construction sector," says Ahmed Rashid, Al Abbar Aluminium's Commercial Manager. "Massive mega projects have been proposed that serve the future prospects, not only of local companies but also of those from Europe and the US. "Now, with the real estate market affected, construction projects are either slowing down or being put on hold. Everyone in the construction sector can only look forward to the events in the coming months and see how banks could serve future investments." The Al Abbar Group has established a strong reputation.
Current market activity centres on Dubai and the Middle East, which make perfect sense when you consider the huge investment in the region. Indeed, no one can argue how Dubai has become a construction hotspot for firms all over the world. "Our vision is to remain a leading aluminium and glass cladding specialist in the Middle East, providing first class standards to produce world class results," says Rashid.
"We are currently being driven by the construction boom in Dubai, which, despite the economic crisis, will provide opportunities for growth, just like it has done in the past. Our major challenge is now to keep pace with the major breakthroughs in construction and remain competitive in the coming years."
Rashid concludes: "This year, Al Abbar looks forward to the new projects in its portfolio. This includes the Burj Dubai - Podium, Dubai Logistics City, DMCC Almas Tower, DIFC Central Park Towers, Bay Square in Business Bay, Mall of the Emirates Expansion and the Dubai Airport's Concourse 3. "The secret to anyone's success remains a secret," he says. "With the right opportunity, and the right response to the demands of the industry, any company can achieve success. However, to keep at pace with the developments and maintain your initial success is the real challenge."

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