AMAQ Contracting Company (AMAQ) was established in Riyadh 18 years ago as a mid-sized contracting company that has today evolved to being one of the top names in the construction, renovation, and fit-out of retail and commercial spaces such as banks, office facilities, brand outlets, and showrooms, among others.
Having existed in the kingdom for almost two decades AMAQ has nearly perfected itself with the KSA culture. They understand what “think global and act local” means and brings that spirit to the table.
“We have to understand and differentiate the KSA market uniquely from other regional and global markets because culture, comfort and trust plays a pivotal role in client selection of vendors here apart from technical and commercial screening,” says Fahad Ali Siddiqui, director of Operations at AMAQ to Construction Week Saudi, in an exclusive interview.
Continuing, he says that AMAQ has almost mastered this art.
Elaborating on AMAQ’s plans in the kingdom, Siddiqui says that the short-term goal is to keep growing at about 10% annually with a prime focus on the non-oil private sector, directly in sync with KSA’s ambitious Vision 2030.
“We plan to be a part of this revolution by offering our top-of-the-line fit-out services to fine-dining restaurants, which are witnessing a behemoth growth in the kingdom. However, there are challenges, as expected. We plan to overcome these challenges with our ultra-flexible customisation of client experience during each step, beginning with the client call to when we hand over the keys to their new premise.
“AMAQ’s long-term goal is to develop from scratch or partner up with an e-commerce entity to launch a new B2B construction materials e-commerce portal in Saudi Arabia serving only the SME sector, addressing their pain points. We can provide them with real-time pricing, same-day delivery, guaranteed quantification and quality checks, and a full refund policy in case of errors. Once successful with the launch of this endeavour, we will be pioneers of this in KSA!”
AMAQ on why 80% of their clients are repeat customers
Siddiqui notes that a common trend they are seeing in KSA is to build green and build fast!
He points out that the first LEED-certified building in KSA was in 2018; however, since then, there have been 941 structures that have achieved the green building certification from USGBC (US Green Building Council), while new gigaprojects target to achieve a minimum of Gold certification.
3D printing is the upcoming trend in construction and fit-out, predicts Siddiqui, adding that he is seeing more clients now shift towards “rush-nature project”.
He explains: “Clients are analysing how early can projects be delivered without compromising on quality, price, safety, sustainability, and flexibility – that’s what’s winning projects in today’s market, and rightly so. With the fast-forwarding of technological advancements across all sectors, project timelines have comfortably reduced by about 50% from what they used to be.”
“We have to understand and differentiate the KSA market uniquely from other regional and global markets.”
KSA’s non-oil private sector sees growth
“The non-oil private sector in Saudi Arabia is growing at 4.3%, while the kingdom’s Public Investment Fund intends to invest $2.66 (SAR 10tn) on new developments over the next decade. In addition, the construction sector is targeted to contribute 10% of the GDP – currently at 4.3% – indicating the vibrancy of Saudi Arabia’s fit-out market as absolutely robust and oozing potential,” says Siddiqui.
“In fact, AMAQ is currently on a hiring spree,” he claims.
Siddiqui notes that even though the pandemic did catch them off guard; however; due to a strong supply chain, employee loyalty and client trust, they did not have to size down.
He adds: “We have stood by our employees, and it has, by far, been the best investment. During the pandemic’s peak, we tactically faced the problem based on ground realities and did our best. In addition, post-Covid, we have been blessed to have partnered with clients that have trusted us with direct-award projects where they have treated us as a partner as opposed to a contractor or a vendor.”
He summarises that while the economic after-effects of Covid are still being felt across industries, the Saudi market is a trendsetter in terms of spending considering that it is the biggest market regionally, affirming that these trickle-down effects are felt across the MENA region eventually.
Siddiqui concludes: “With our industry know-how, immaculate supply-chain, technology adaption and an ultra-creative thought process of working against our comfort zones; we make the impossible…possible!
“In addition, through our seamless top-notch quality projects and final product handover, we keenly add value by investing heavily in our resources. We make the process of the project lifecycle from one step onto the next, a very joyful journey for our clients. And this may well be the reason why 80% of our business are repeat clients.”