3. Hamish Tyrwhitt, Arabtec Group | Depa Holding
As group chief executive officer of Arabtec Holding, Hamish Tyrwhitt has successfully capitalised on the momentum the business began to build in Q1 2017, securing revenues of $2.5bn (AED9.2bn) in the last financial year. The UAE-headquartered construction giant worked as the main contractor on projects including the Louvre Abu Dhabi, Dubai’s Damac Heights and Oud Muteena Villas, and Aramco Villas in Saudi Arabia. The company’s ongoing portfolio includes work on Abu Dhabi’s Midfield Terminal Project in a joint venture (JV) with CCC and TAV, Bahrain International Airport in a JV with TAV, and Jordan’s Saraya Aqaba in a JV with CCC.
Tyrwhitt says that Expo 2020 Dubai is proving crucial for the local sector: “Expo-related development projects are expected to exceed $33bn (AED121.2bn), with more than 2,000 new structures being built in the UAE. [The event] is one of the single biggest opportunities for Arabtec Group within the next [year].”
And in his role as group CEO of Depa Group, Tyrwhitt has also enjoyed a very good year. The group performed well “as a result of strong progress in executing its clearly defined business strategy, coupled with improved operational performance, and the collection of a number of significant receivables”, Tyrwhitt explains.
In the last fiscal year, Depa Group saw $490.1m (AED1.8bn) in revenues and delivered specialist solutions for the interior fit-out of projects in the UAE including the InterContinental Resort Fujairah; Robinson’s Department Store at Dubai Festival City; W Dubai – The Palm; Kempinski Hotel & Residences Palm Jumeirah, Dubai; and the Dolce & Gabbana and Bottega Veneta boutiques in the new Dubai Mall Fashion Avenue extension.
Leveraging and continuing this success will be Depa Group’s main focus over the next 12 months. “Depa is now focused on the next phase of its strategy: delivering consistent, sustainable top- and bottom-line growth,” says Tyrwhitt.