In the most recent list published by ENR – Engineering News Record – in August 2018, Projacs International was ranked 12th in the Top 20 Non – US Firms in International Construction Management and Program Management Fees and 15th in Top 20 Non – US Firms in Total Global Construction Management and Program Management Fees.
The company, acquired in mid-2015 by Egis Group - French consultancy firm, continues to strengthen their position on international markets and particularly in the Middle East through a network of their long established offices.
Projacs International has been listed by ENR for the past nine years and maintained its position internationally on the rank 12 , while stepped up globally from the 17th position to the 15th this year, marking a shift of two places up in Top 20 Non – US Firms in Total Global Construction Management and Program Management Fees, based on fees for management services provided on a fee-only basis for all projects, both domestic and international.
“We are extremely happy with this result, despite the recent tensions in the Middle East region that have caused various investment constraints”
says Ashraf Al Garf, CEO of Projacs International.
In general, the region has faced many recent changes that influenced the development of the projects. One of them is the VAT implementation among the countries: 5% VAT has been already introduced in United Arab Emirates and Saudi Arabia whilst Bahrain, Oman, Qatar and Kuwait wait until 1st January 2019. This has forced some of the governmental procedures to change, causing a delay in awarding the new projects and affecting the cost and fees fluctuation.
Despite this, Projacs International managed to secure and continues to work on some iconic projects, such as new IKEA store in Bahrain, National Bank of Kuwait HQ in Kuwait City, new HQ for Housing Bank for Trade and Finance in Jordan, Hilton Panorama Hotel in Qatar, The Cove and The Creek in Dubai Creek Harbour in UAE and many more.