Turner & Townsend’s Middle East business revenues hit US$ 65 mn

Posted on 23rd July 2019

Turner & Townsend’s Middle East business revenues hit US$ 65 mn
Image courtesy of: https://glcm.cee.illinois.edu/files/2019/01/20190110_103632.jpg

According to *Constructionweekonline news report, Turner & Townsend’s Middle East business saw revenues for the 12-month period ending 30 April, 2019, hit $65m – an 11% increase driven by further work in the sports, leisure, and hospitality sectors, which includes the refurbishment of Atlantis, The Palm hotel in Dubai.

Natural resources remains a key area of focus for Turner & Townsend, which is also involved with Basrah Gas Company’s natural gas infrastructure programme in Iraq.

The figures came as the UK-headquartered group announced an overall turnover of $834m in the same period, a 16% increase on 2017-18’s corresponding $756m figure.

The group’s global real estate business saw revenues hit $444m over the year, a 15% increase driven by rapid growth in the high-tech and manufacturing sectors, as well as increased data centre demand from its tech clients.

Turner & Townsend, which works across the real estate, infrastructure, and natural resources sectors, said its strong performance had been driven by a “diverse business model” and the growth of its "global footprint".

In the past financial year, the Leeds-headquartered Turner & Townsend increased its headcount by 17%, and currently employs more than 6,100 people in 110 offices.

Commenting on the financials, Vincent Clancy, Turner & Townsend’s chairman and chief executive officer, said: “The outlook for our industry is one of huge change and accelerated investment, as it responds to the shift towards a low-carbon economy, demand for smart cities, growing populations, and strains on existing infrastructure. 

“I believe we are well placed to be at the forefront of the solutions to these challenges, embracing new technologies and delivering better performance for major programmes and assets over their lifecycles.”

Turner & Townsend is currently working on the UAE’s national pavilion for Expo 2020 Dubai, and a project for Masdar City in Abu Dhabi.

Its portfolio also includes Expo 2020 Dubai’s Thematic Districts, named Opportunity, Sustainability, and Mobility.

*News source: https://www.constructionweekonline.com/business/257195-turner-townsends-2018-19-middle-east-revenue-up-11

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