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Auger Torque joins the Construction Boon in the Middle East
May 12, 2017
Auger Torque, an English manufacturer of heavy equipment attachments, has opened a new operation headquarters in the United Arab Emirates (UAE) following an exclusive distribution agreement with the region?s leading construction company, United Motor Heavy Equipment (UMHE).
Auger Torque Middle East will further broaden Auger Torgue?s reach, which already has operations in China and Australia, and bring new and innovated technologies not only to the UAE, but Oman, Saudi Arabia, Kuwait, Qatar, and Bahrain, or in the words of the new operations GM Zaid Rassool, ??gives us a presence on the ground in the region for cementing partnerships within the UAE gives us a presence on the ground in the region for cementing partnerships within the UAE and beyond beyond.?
The launch, which took place in Dubai on April 25th, 2017 was attended by UMHE and British Diplomats in a showing of support. It featured a demonstration and exhibit of Auger Torgue?s heavy equipment attachments for potential buyers in the region.
This is just the latest in a series of new contracts that have help to put the UAE at the top of the Middle East?s construction market, a $145.5 billion industry internationally, surpassing current leader Saudi Arabia.
According to a recent BMI research report, the spike in oil prices have helped alleviate some of the kingdom?s budgetary constraints that allowed Saudi Arabia to surpass it as the leader of the construction market in 2012.
Despite this news, there is still skepticism about the long-term success of the construction market in the UAE. The Middle East managing director at Tuner and Townsend, a project management firm, Mike Collings, notes that the nation is struggling to reconcile the existence of both the government-run operations in the kingdom?s capital of Abu Dhabi, and the foreign interests centered in the more populous Dubai.
Collings posits that while Abu Dhabi will struggle to make any real growth, Dubai is already seeing a surge of interest ahead of Expo 2020. The Expo, sanctioned by the Bureau International des Expositions in 2013, is the first of its kind to be held in the Middle East.
But the AUE isn?t the only middle eastern county with a growing construction market. According to the same BMI study, growth has exploded throughout the middle east. Other large events, in addition to Expo 2020, seems to be responsible. Most notable is the 2022 FIFA world cup, to be held in Qatar.
For foreign companies, like Auger Torque, this represents an opportunity to expand their business in the region. The construction market bubble is likely why the heavy equipment attachments and supply company has chosen now to invest in branching out to the Middle East.
With so much of the Middle East?s current construction market bubble tied up in international event, it will be interesting to see how the industry develops during the latter part of the 20s.