Arabtec Egypt aims to double its contracts to EGP 22 billion in 2026
Arabtec Egypt plans to double its contract volume in the Egyptian market to EGP 22 billion by 2026, driven by the expansion of its residential and infrastructure project portfolio, as well as an increase in existing contracts with several major real estate developers, according to CEO Abdel Rahman Ismail, in an interview with Asharq.
Ismail explained that Arabtec Egypt's contract portfolio includes projects for SODIC, Mountain View, Imkan Misr, and Misr Italia, in addition to expanding its current operations.
In 2004, five Egyptian businessmen acquired all of Arabtec Egypt's shares following the bankruptcy and liquidation proceedings of its parent company in the UAE. Ismail owns a majority stake in the company but declined to disclose the percentage.
Over the past few years, Arabtec Egypt has executed several projects with major developers, including Emaar Misr and SODIC. It completed five projects for Emaar Misr with a total value exceeding EGP 5 billion, including three contracts in the Uptown Cairo project and two contracts in Marassi, in addition to two projects for SODIC.
The company's CEO revealed to Asharq that Arabtec has filed for arbitration against Emaar Misr after failing to reach an agreement regarding outstanding payments of EGP 1 billion. These payments include financial claims resulting from exchange rate fluctuations, time extensions, and other discounts, totaling approximately EGP 680 million, in addition to letters of guarantee worth nearly EGP 320 million.
He added that the company is currently working on integrating modern technologies into its construction operations to accelerate execution and control rising building material prices. It is also expanding into new areas, including data center projects and specialized infrastructure, such as water desalination.
He explained that the company also aims to bring new international developers into the Egyptian market, particularly in the Ras El Hekma and Alam El Roum areas.
He added that his company has completed the establishment of a branch in the UAE, based in Dubai, and aims to achieve a business volume of one billion Emirati dirhams. The company is currently studying a number of residential projects in Dubai and Abu Dhabi.
While the company includes the Saudi market in its future expansion plans, its current focus is on the Egyptian and Emirati markets, according to Ismail. He noted that this focus stems from the company's accumulated experience in these markets, as well as its efforts to train Egyptian talent to work in these regional markets.