ASGC Construction

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]

ASGC Construction
Type of businessPrivate
Founded1989 (1989)
HeadquartersBay Square, Business Bay, Dubai, United Arab Emirates[1]
Key peopleMohamed Saif Bin Shafar chairman
IndustryConglomerate
URLwww.asgcgroup.com
Current statusActive

History

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][3][4] as part of Costain's £100 million cash-raising share issue.[15][16]

In 2020, ASGC contributed to Dubai's efforts to combat the COVID-19 pandemic,[17][18] during which it was forced to cut around 15% of its workforce (almost 2,300 employees).[19] In Egypt, the firm donated EGP5m to a COVID-19 fund to support seasonal workers.[20]

Clients

ASGC Construction has worked with various government, public and private organizations. Its government clients have included Expo 2020,[21] Dubai's Roads and Transport Authority,[22] SEHA,[23] ADNOC,[24] Dubai Police,[25] DAEP,[26] Dubai World Trade Centre[27] and New Urban Communities Authority.[28]

Awards
  • Contractor of the Year - Better Together Awards Expo 2020[29]
  • Dubai Chamber CSR Label 2020[30]
  • Mohamed Bin Rashid Al Maktoum Business Excellence and Business Innovation Awards 2019[31]
  • Contractor of the Year[32] and Excellence in BIM[32] - both in Big Project Awards 2019
  • Contractor of the Year - Big Project Awards 2018[33]
  • Contractor of the Year - MEED 2018[33]

References
  1. Bay Square, ASCG Group. Retrieved: 28 December 2021.
  2. ASGC to lay off 1000 staff due to delays, Arabian Business, 27 December 2008. Retrieved: 7 May 2021.
  3. UAE-based ASGC acquires 15% stake in Costain engineering firm Arabian Business, 9 May 2020. Retrieved: 7 May 2021.
  4. "Dubai contractor ASGC takes 15% stake in stressed Costain". Global Construction Review. 11 May 2020. Retrieved 7 May 2021.
  5. Dubai contractor asgc is said to delay IPO plan on weak market, Gulf News, 8 October 2015.
  6. Al Shafar upbeat on construction boom in Dubai, Gulf News, 8 April 2005. Retrieved: 7 May 2021.
  7. ASGC bags projects worth Dh3b, Gulf News, 22 November 2010. Retrieved: 7 May 2021.
  8. ankit, Johari (2 February 2016). "UK contractor awarded Bluewaters infrastructure deal". MEED News. Retrieved 2 February 2016.
  9. Rohma Sadaqat (2 July 2019) Meraas appoints ASGC to build region's most advanced cruise terminal, Khaleej Times. Retrieved: 7 May 2021.
  10. Meraas appoints ASGC to build region’s most advanced cruise terminal in Dubai Harbour, commercial interior design, 2 July 2019.
  11. Rousseau, Oscar (15 November 2018). "Dubai's Mohammed Bin Rashid Library passes 70% completion mark". Construction Week. Retrieved 7 May 2021.
  12. Foreman, Colin (31 August 2016). "Dubai awards airport upgrade contract". MEED. Retrieved 7 May 2021.
  13. Morby, Aaron (7 May 2020). "Dubai contractor to take 15% stake in Costain". Construction Enquirer. Retrieved 7 May 2020.
  14. Rogers, Dave (28 May 2020). "Costain completes £100m cash raising move". Building. Retrieved 28 May 2020.
  15. "Al Shafar takes 15% stake in Costain". www.theconstructionindex.co.uk.
  16. "Costain to raise £100m in placing, UAE construction group to take 15% stake". www.sharecast.com.
  17. Combating coronavirus: ASGC Group contributes Dh5 million, Khaleej Times, 20 April 2020. Retrieved: 7 May 2021.
  18. "Al Shafar contributes AED5 million to the Community Solidarity Fund Against COVID-19". Archived from the original on 2020-04-24. Retrieved 21 April 2020.
  19. "Dubai-based ASGC Group said to cut 15% of its workforce". Arabian Business. 26 June 2020. Retrieved 7 May 2021.
  20. "COVID-19: ASGC Egypt offers financial aid to un-salaried workers". Archived from the original on 2021-11-19. Retrieved 14 April 2020.
  21. "EXCLUSIVE: Dubai awards Expo 2020 pavilion construction deals". www.meed.com.
  22. "ASGC awarded 12km Road Contract in UAE". www.saudigulfprojects.com.
  23. "ASGC bags projects worth Dh3 billion". www.khaleejtimes.com.
  24. "Al Shafar's Adnoc and Al Hosn Gas projects on track". www.gulfnews.com.
  25. "Al Shafar upbeat on construction boom in Dubai". www.gulfnews.com.
  26. "DAEP awards tender to ASGC Construction LLC". www.daep.gov.ae.
  27. "UAE's ASGC picked to build world's largest 25hours hotel". www.arabianbusiness.com.
  28. "UAE-based ASGC to execute Emaar's Uptown Cairo and Levana flagships". www.en.amwalalghad.com.
  29. "Better Together Awards celebrate Expo 2020 Dubai's commitment to world-class health, safety and worker welfare". wam.ae/.
  30. "DUBAI CHAMBER PRESENTS 36 COMPANIES WITH CSR LABEL IN H2-2020". www.dubaichamber.com/.
  31. "Ahmed bin Saeed honours winners of Mohammed Bin Rashid Al Maktoum Business Awards". wam.ae/.
  32. "Revealed! All the winners at the Big Project Awards 2021!". meconstructionnews.com/.
  33. "ASGC and BuroHappold scoop major prizes at Big Project Middle East Awards 2018". truckandfleetme.com/.
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