Yesterday, the Al Fara’a Group celebrated its 30th birthday with various events for its 18,000 employees in the UAE, Saudi Arabia and India. Al Fara’a was founded on 5 July in 1980 and is today an integrated construction group that spans property development, construction and related services as well as fabrication and manufacturing. The Al Fara’a Group also includes Unibeton Ready Mix, the largest concrete manufacturer in the Gulf; Belgium Aluminum and Glass and Al Sabbah Electromechanical.
In 2009, the Group achieved AED3.0 billion in turnover for the financial year ended 31 December 2009. This represents 6.0% growth year over year. The group managed its efficiencies proactively to maintain its net profit margins and over the last five years has achieved a compounded net growth rate of 46.5%.
President and Executive Chairman, Dr JR Gangaramani stated that the Group had achieved positive results in spite of challenging marketing conditions because of a focus on maintaining the fundamentals. “We have really focused on meeting customer needs not only aiming at repeat business, but also seeking to grow with them over the years,†explained Dr Gangaramani.
Some of the staff took the opportunity to share anecdotes. Mr Mohd Shehadeh, Senior Vice President of Unibeton Ready Mix reminisced that “We have always tried very hard to beat deadline requirements of customers and then even harder to deliver what the customer wanted, rather than sell them what we thought they wanted.â€
It is this approach that led to Unibeton Ready Mix achieving the milestone Dubai Quality Appreciation Award in 2009 and for the Group, 97.3% of its turnover is generated by business units that are accredited by Lloyd’s for their Integrated Management Systems.
Chimanlal Gangaramani, Vice Chairman of Al Fara’a Group explained, “A focus on safety, quality and the environment has enabled the Group to maintain its leading position as the integrated construction solutions provider that has and continues to be involved in truly iconic projects such as Emirates Towers in Dubai; Mushriff Mall, Mezyad Mall, Landmark Tower and the Ferrari Theme Park in Abu Dhabi; Bawadi Mall in Al Ain and the Sahara Shopping Centre in Sharjah. Recently the Group has partnered with international construction leaders to deliver specialist projects such as the AED150 million Al Bateen Secondart School.
Dr Gangaramani thanked the Rulers of the UAE for their economic wisdom in creating an environment conducive to business success. He then extended his sincere appreciation to the Group’s 18,000 strong workforce. “What we witness today is the result of thousands of hands working together to build the integrated construction group that has surpassed the expectations of our stakeholders and for your tireless efforts, I thank you and your families†he concluded.
