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Type of business | Private |
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Founded | 1989 |
Headquarters | Bay Square, Business Bay, Dubai, United Arab Emirates [1] |
Key people | Mohamed Saif Bin Shafar chairman |
Industry | Conglomerate |
URL | www |
Current status | Active |
ASGC (Al Shafar General Contracting Co. LLC) Construction is a construction conglomerate company established in 1989, headquartered in Dubai, [2] UAE. ASGC is one of 26 companies in the Al Shafar Group. [3] In 2020, the company had annual revenues of $1bn and 17,000 employees. [4] It is privately owned by Mohamed Saif Bin Shafar (chairman), Emad Azmy (vice-chairman) and Mohammed Al Sayyah (non-executive director). [4]
The business was established in 1989 by a Dubai national and an Egyptian engineer. [5]
In 2005, projects constructed by ASGC include Dubai's Ministry of Public Works building, the Dubai Police headquarters, Sector 6 of Jumeirah Beach Residence, Al Shatha Tower, and the 67-floor Mohammad Saif Al Shafar residential tower. [6] In 2010, it reported project wins in Abu Dhabi, Dubai and Egypt worth around AED3 billion. [7]
In 2015, it delayed plans for an initial public offering of its shares. Its completed projects then included the Waldorf Astoria on Palm Jumeirah. [5]
In 2016, ASGC, in a joint venture with Kier, was awarded the Bluewaters Island project by Meraas to build more than 700 apartments. [8] In 2019, it was appointed by Meraas to build a cruise liner terminal nearby, between Palm Jumeira and Bluewaters Island. [9] [10]
In 2016, ASGC started construction of Dubai's $245m (AED900m) Mohammed Bin Rashid Library, reputedly the largest cultural and library project in the Arab world, [11] and won contracts to upgrade concourses at Dubai International Airport. [12]
In May 2020, it became the largest shareholder (with a 15% shareholding) in the United Kingdom's Costain Group, [13] [14] [15] [3] [4] as part of Costain's £100 million cash-raising share issue. [16] [17]
In 2020, ASGC contributed to Dubai's efforts to combat the COVID-19 pandemic, [18] [19] during which it was forced to cut around 15% of its workforce (almost 2,300 employees). [20] In Egypt, the firm donated EGP5m to a COVID-19 fund to support seasonal workers. [21]
ASGC Construction has worked with various government, public and private organizations. Its government clients have included Expo 2020, [22] Dubai's Roads and Transport Authority, [23] SEHA, [24] ADNOC, [25] Dubai Police, [26] DAEP, [27] Dubai World Trade Centre [28] and New Urban Communities Authority. [29]
The Dubai Metro is a rapid transit rail network in the city of Dubai, United Arab Emirates. It is currently operated by a consortium of the French company Keolis and Japanese company MHI, as Keolis-MHI.
Costain Group plc is a British construction and engineering company headquartered in Maidenhead, England. Founded in 1865, its history includes extensive housebuilding and mining activities, but it later focused on civil engineering and commercial construction projects. It was part of the British/French consortium which constructed the Channel Tunnel at the end of the 1980s, and has been involved in Private Finance Initiative projects.
Sheikh Ahmed bin Saeed Al Maktoum is an Emirati businessman and member of Dubai's ruling Al Maktoum family. He is the president of the Dubai Civil Aviation Authority, CEO and founder of the Emirates Group, and chairman of Dubai World.
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The government of Dubai took a decision to diversify from a trade-based, oil-reliant economy to one that is service and tourism-oriented. This has made real estate and other developments more valuable, thus resulting in a property boom from 2004 to 2006. Construction on a large scale has turned Dubai into one of the fastest-growing cities in the world. There are a number of large-scale projects which are currently under construction or are to be constructed in the future. Due to the heavy construction which is taking place in Dubai, 30,000 construction cranes, which are 25% of cranes worldwide, are operating in Dubai. Due to the burst of construction, Dubai has acquired various building-related records, which include: the world's tallest tower, the world's largest shopping mall, the world's largest fountain and the world's tallest hotel. Also under construction is Dubailand, which will be almost twice the size of the Walt Disney World Resort.
Jumeirah Beach Residence is a 1.7 kilometres (1.1 mi) long, 2 square kilometres (0.77 sq mi) gross floor area waterfront community located on the coast of the Persian Gulf in Dubai Marina in Dubai, United Arab Emirates. It is a residential development and contains 40 towers. JBR can accommodate about 15,000 people, living in its apartments and hotel rooms. The Project has 6,917 apartments, from 900 sq ft (84 m2) studios to 5,500 sq ft (510 m2) penthouses. JBR has a total of six residential blocks, Shams, Amwaj, Rimal, Bahar, Sadaf and Murjan. JBR is within walking distance to Dubai Marina, Dubai Tram and Dubai Metro.
Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum is an Emirati royal and politician who serves as minister of finance of the United Arab Emirates, deputy ruler of Dubai and chairman of Dubai Media Incorporated. He was named as deputy ruler in February 2008 when his elder brother Hamdan was made crown prince. He served as deputy ruler alongside his uncle Sheikh Hamdan bin Rashid Al Maktoum until the latter's death in March 2021. Since then until 2023, he was the sole deputy ruler under his father Mohammed bin Rashid Al Maktoum's reign. In April 2023, his younger brother Sheikh Ahmed bin Mohammed Al Maktoum was also named deputy ruler. In September 2021, he was appointed deputy prime minister and finance minister of the UAE.
Al Furjan is a property development in Jebel Ali, Dubai, United Arab Emirates. Nakheel Properties heads the development and Azizi Developments owns the largest number of residential buildings. It borders Jebel Ali Village and is near Ibn Battuta Mall, the Gardens, and Expo 2020. Homes in Al Furjan are typically built in Al Hejaz, Dubai, or Quortaj styles.
The University of Dubai (UD) (Arabic: جامعة دبي) is a private university in Dubai, United Arab Emirates. Established in 1997, it is licensed nationally by the Ministry of Higher Education and Scientific Research. It became the first private University in Dubai to hold the AACSB international accreditation in 2009, maintaining for further 5 years till 2019, as well as the first private university in the UAE to hold the ABET-CAC accreditation for its Computing and Information Systems (BS) program in 2006. The curriculum is aligned with international professional certification bodies such as Institute of Leadership & Management (ILM)-UK, which awards BBA HRM and MBA Leadership and HRM graduates with level 5 and 7 certifications. Similarly, the curriculum is aligned with Islamic Economy, Smart City, Innovation and Entrepreneurship initiatives of the government with IBM partnership.
Bluewaters Island is an artificial island 400 metres (1,300 ft) off the Jumeirah Beach Residence coastline, near Dubai Marina, in Dubai, United Arab Emirates.
The following is a timeline of the history of the city of Dubai, United Arab Emirates.
Dubai Creek Tower is a proposed supported observation tower to be built in Dubai, United Arab Emirates. The preliminary cost of the tower was estimated at AED 3.67 billion. It was expected to be completed in 2021 at the earliest, but tower construction was put on hold at the start of the COVID-19 pandemic.
Ohood Bint Khalfan Al Roumi is an Emirati politician who is the Minister of State for Government Development and Future. She is also Chairwoman of the Federal Authority for Government Human Resources (FAHR).
The Mohammed Bin Rashid Library (MBRL) is a large library in the Al Jaddaf locality of Dubai, United Arab Emirates, on Dubai Creek that opened to the public on June 16, 2022
The Mohammed Bin Rashid Al Maktoum Global Initiatives is a foundation based in the United Arab Emirates (UAE), launched in 2015 by the UAE ministry of finance, consolidating some 33 philanthropic initiatives overseen in the past two decades by Sheikh Mohammed bin Rashid Al Maktoum, the Vice President and Prime Minister of the United Arab Emirates and Ruler of Dubai.
Meraas is a holding company privately held and headquartered in Dubai with operations and assets in the United Arab Emirates. In 2020, Meraas become a subsidiary of Dubai Holding, following a directive from Sheikh Mohammed bin Rashid Al Maktoum, Ruler of Dubai.
Investment Corporation of Dubai is the principal investment arm of the Government of Dubai focused on strengthening Dubai’s economy through long-term value and wealth creation and investing in global opportunities. Established in 2006, ICD manages the Government of Dubai Portfolio of commercial companies and investments. In 2022, ICD reported assets worth $320 billion and revenue of $73 billion. The Dubai-based corporation provides strategic oversight, develops and implements investment strategies and corporate governance policies, and operates in multiple sectors, including oil and gas, transportation, banking, and financial services.
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