Lakshmi Narayanan Vadivel
Premier Omani facilities services company Shapoorji Pallonji Group — a subsidiary of the property developer — has witnessed a growth in revenues and profits. The firm managed $50.6m (OMR19.5m) in 2017-18 to $54.5m (OMR21m) for 2018-19 – with profit figures increasing albeit marginally. The firm is still some distance away in achieving similar revenues in the UAE, in fact profits were in the negative for 2018-19, but with sometime to go a slight correction of that will be expected.
The firm manages the complete real estate process for the likes of City Center Sur, Muscat Grand Mall, Al Fardan Properties and Majlis Oman in the Sultanate, with a few top residential and educational institutions in the UAE. A few of the contracts it will begin work in 2019 are Muscat Bay, City Center Sohar and Dubai Gate 2, JLT.