Joint ventures in construction
Interview with Naveen Sasidharan,
Managing Director, Jancos Group
The onset of the financial crisis has seen a glut of
construction companies from Dubai flock en masse to
Abu Dhabi, creating a dramatic drop in prices and the
creation of a buyer’s market. The result is that many
of the smaller operations that had heretofore enjoyed
a steady income, are struggling under the pressures of
increased competition.
The nature of the Abu Dhabi contracting companies
certification system is such that there are certain
requisite levels a company must reach in order to
be eligible for the various levels of job that are put
to tender. Companies are categorised by levels, for
which they are pre-qualified depending on their
experience (see table on page 88).
Many small and mid-size contracting companies
are therefore actively looking for international
construction companies, with experience in major
projects and large developments with which to form
joint venture partnerships. They do this with a view
to gaining additional certification, enabling them to
target high value projects.
One such company which has recently secured such a
joint venture is Jamal Al Nuaimi General Contracting
Company.
Owned by Jamal Al Nuaimi, the prominent Emirati
businessman, the JANCOS Group of Companies is a
multifaceted group operating in a variety of spheres,
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