Egyptian businessman / Daker Abdellah, Chairman of Qontrac Developments to the Emirati “Estesmarat Magazine”

II: Subheadings

• Qontrac Developments Group is the culmination of the half-century-long efforts of the Abdellah family in the Egyptian contracting and construction sector
• The Qontrac Developments Group’s 10 companies have their remarkable print on all construction sites in Egypt
• We, as Egyptian businessmen, are implementing the inspiring vision of His Excellency President Abdel Fattah El-Sisi.
• Egyptian-Emirati relations are a strong and remarkable model when we talk about the highest manifestations of the meanings of the Arab fraternity
• The UAE’s development miracle is the outcome of the efforts of a wise leadership that has a great vision for the future.
• UAE’s honoring of me as the best personality in the Arab contracting sector is a great achievement that I will cherish throughout my life
• 138 projects for the public and private sectors are constructed by “Qontrac and Abdellah’s Sons ” with the best international quality standards

• The Egyptian government has made great strides, and without these efforts, Egypt would have paid a huge bill for global crises such as COVID-19 and the Russian-Ukrainian war.
• We are fully committed to adopting the best safety and security standards in all work sites
• The Egyptian government has introduced a lot of investment–attracting legislation
• The volume of investments in the projects implemented by the Qontrac Developments amounts to 10 billion LE
• We are proudly contributing to the development and construction process in Egypt and the Arab world
• Egypt is a hospitable country that opens its door to investors from Arab and world countries
• Businessmen’s calculation of profits is necessary but it comes after the national interest
• An essential addition to the “YARU” project developed by “Qontrac” in the heart of the Administrative Capital on an area of 37 acres
• At Qontrac, we believe in our societal and humanitarian role and it is our duty to provide channels of support.
• 50% of the YARU project has been completed, as the villa phase has been fully completed, and work is underway in the residential buildings and shops phase
• The YARU project will be fully completed in two years and it will be an addition to the development map of Egypt’s future capital
• Our achievements and successes in the real estate development sector are the result of the Group’s great potential
• Some people are spreading rumors to undermine the Egyptian economy, but their scheme will be foiled
• In all my relationships, I adhere to authentic family traditions and values, and my father is my first teacher.
• Customer trust is Qontrac Development’s bridge to more national and regional successes

We are proud that we are a national group that opens fields of training and qualification for Egyptian youth to enter the labor market and build their future

Interview by Mohamed Shams El-Din

In the history of Arab businessmen, there are great models whose belonging to the soil of their homeland and staunch belief in the importance of the national and Arab interests guide them in all their actions. Those businessmen act as role models for future generations.

The Emirati magazine Estesmarat hosts the Egyptian businessman / Daker Abdellah, founder and chairman of the Qontrac  Developments Group, who is one of the most prominent Egyptian businessmen, known for his projects and activities in all the various construction and urban development sites that the Qontrac  Developments Group has entered strongly to contribute to drawing the scene and even the map of New Egypt( the one the world has not been familiar with  before)), and complete the march of Egyptian civilization, which our guest  and the personality of the Estesmarat Magazine Dr. Daker Abdellah  always puts before his eyes(( through his honorable debates and strong stances, which he does not give up as regards any national issue, and which he expresses through political and national platforms  — or through his role in the positions he holds including his position as a member of the Construction Committee of the Egyptian Businessmen Association, a member of The Real Estate Investment Division of Federation of Egyptian Chambers of Commerce (FEDCOC), and a member of the  Development and Construction Committee of the Egyptian Businessmen Association. This is in addition to his membership in many community and humanitarian institutions, whether in Egypt or in other countries all over the world.

Interview by Mohamed Shams El-Din

In the history of Arab businessmen, there are great models whose belonging to the soil of their homeland and staunch belief in the importance of the national and Arab interests guide them in all their actions. Those businessmen act as role models for future generations.

The Emirati magazine Estesmarat hosts the Egyptian businessman / Daker Abdellah, founder and chairman of the Qontrac  Developments Group, who is one of the most prominent Egyptian businessmen, known for his projects and activities in all the various construction and urban development sites that the Qontrac  Developments Group has entered strongly to contribute to drawing the scene and even the map of New Egypt( the one the world has not been familiar with  before)), and complete the march of Egyptian civilization, which our guest  and the personality of the Estesmarat Magazine Dr. Daker Abdellah  always puts before his eyes(( through his honorable debates and strong stances, which he does not give up as regards any national issue, and which he expresses through political and national platforms  — or through his role in the positions he holds including his position as a member of the Construction Committee of the Egyptian Businessmen Association, a member of The Real Estate Investment Division of Federation of Egyptian Chambers of Commerce (FEDCOC), and a member of the  Development and Construction Committee of the Egyptian Businessmen Association. This is in addition to his membership in many community and humanitarian institutions, whether in Egypt or in other countries all over the world.

Q2

How did you manage to combine the businessman’s purely material interests with your overwhelming national tendencies?

We, as Egyptian businessmen who love and are strongly grateful to our beloved country, Egypt, are keen to strengthen and achieve more added value in the economic development sector in Egypt through our projects as investors in all sectors. We also believe that the contribution of every individual citizen in building his country leads to a stable and developed state and society. In Qontrac Developments we are proud that our achievements are in the urban sector, both in the contracting and real estate development domains, since the building and construction sector is the pillar of civilizational, economic, and also societal development. It should be emphasized that Egyptian businessmen play a pivotal role in supporting community and humanitarian work, and this is indisputable. For our part, Qontrac Developments believes in the importance of its role and responsibility towards society, including providing multiple channels of services and support to the most vulnerable families, as well as the group’s contribution over the past years in many service projects, which included the construction of hospitals, and water desalination plants among many others. It also created new job opportunities through its projects for young people who get the required training and qualifications for the labor market.

In general, we believe that businessmen play a pivotal role in any country, especially at the current stage in which the world is witnessing a change in the economic orientation to focus more on the role of the private sector, whose strong contributions began in the 1980s under many names such as privatization. This urges us to shed more light on Egypt’s leading role in the Arab world over the past decades which inspires us as Egyptian businessmen to carry out more projects that support Egyptian and Arab development as a whole out of our great responsibility towards them. Thus, the role of businessmen should not be valued from the perspective of their profits, though it is a rule in any business sector, as we, businessmen, must always have a national spirit that is reflected in the development of our countries and our Arab surroundings, and this is strongly reflected in the development of our business, a matter which guarantees the prosperity of our future generations.

There is no doubt that businessmen in Egypt are the driving force of development who have endured many challenges due to past crises and insisted on working in an economically giant country whose economic activities stopped for a period of time. Yet, the determination of the Egyptians and their belief in their political leadership and the sincerity of its intentions and national will, as well as their love for their homeland urged them to increase their investments and work to create a lot of job opportunities for the young generation.  Currently, businessmen have to continue to work, invest, open new job opportunities, and promote the “Made in Egypt” campaign in various sectors. You can say that the achievements made in the areas of infrastructure, energy, urban development, roads, bridges, etc. are a driving force for businessmen, as many moves have been taken to attract both foreign and Egyptian investments, including multiple investment facilitating legislatives. Suffice it to mention that Egypt is a country that welcomes investors from all countries of the world, particularly the Arab countries, who are warmly welcomed by the Egyptian people and who will find a lot of investment opportunities.

Q/3

How do you see the map of the Egyptian economy from 2015 until now, do you see that there is new blood running in the arteries of Egyptian construction and development sectors?

We see today the sincere efforts of the Egyptian private sector in supporting the development process, and we, as businessmen, appreciate the efforts of the Egyptian government to transform Egypt into an economically developed country in light of the directives of His Excellency the Egyptian President Abdel Fattah Al-Sisi, who is truly the one who first began tremendous urban change in Egypt that we all see today. According to this wise policy, the projects implemented by the Egyptian businessmen in general, and the Qontrac Group, in particular, have become the pulse of the vision of the political leadership. Indeed, our country has given us a lot and hence it deserves a lot from us.

There is no doubt that the economic reforms taken by Egypt under the leadership of President Abdel Fattah Al-Sisi have limited the impact that resulted from the Corona crisis and the Russian-Ukrainian war on the Egyptian economy. On the other hand, there are many mega projects, including roads, bridges, infrastructure, and new cities such as the administrative capital, and El Alamein among many others, which would not have been constructed, had their implementation delayed as a result of the global economic conditions. Now, these cities have become the destination of Egyptian, Arab, and international investments.

It is enough to look at the achievements of the government made in light of the sound vision of His Excellency the Egyptian President in several domains such as the infrastructure, and energy, in addition to many other achievements that Egypt is currently taking pride in, though it has gone through a massive political turmoil that included many Arab countries, but “thanks to God Almighty” Egypt is making leaps and we will see faster results in the future. I also stress that these efforts, despite the global crises, have given us confidence that we, as people and polity, can make more achievements. This may be difficult, as they say, but what has been achieved at the level of the Egyptian economy is an unprecedented achievement that paves the way for future development for Egypt and the Arab nation.

The giant projects erected so far in various sectors, whether industrial, real estate, agricultural, or touristic will have a positive impact on future generations and guarantee the well-being of the Egyptian people as well as Egypt’s position among the strong emerging economies. But of course, every development process has a tax that should be paid to guarantee its success.

Q/4

From time to time, some Egyptian businessmen, despite the strength of their institutions and investments, gave statements about the investment environment in Egypt claiming that it is repellent to national investments and that they are thinking of moving their investments to other countries. Do you see any excuse for them for giving such statements, especially during the development phase that Egypt is witnessing now?

The Egyptian people in general including businessmen are sincere lovers of their country, and let’s not get affected by rumors that are spread with the aim of weakening the morale of the Egyptian people, and undermining the Egyptian economy by some misleading rumor mongers. The challenges we face now are the result of certain global political and economic situations which are beyond our control. These challenges are found in many countries of the world, the most important of which is the challenge that has emerged as a result of the impact of the Russian-Ukrainian war on the global economy. We believe that Egypt has managed to overcome it and that the Egyptian government has borne enormous and huge burdens. We also believe that what we have accomplished today is a guarantee for the future, and that rumor mongers will certainly be defeated, as Egypt throughout history is protected by God Almighty and then the will of its people.

Q/5

At the current stage, we want to know the most important projects of Qontrac Developments on the construction map of Egypt.

We are currently implementing the “YARU project”, on an area of 37 acres in the heart of the Administrative Capital, a distinguished location on the Bin Zayed axis and the Green River, minutes away from the diplomatic district, Downtown, and the financial and business district. The project includes residential units such as villas, hotel rooms, and apartments, in addition to a large mall and green spaces. The implementation of the villa units has been fully completed and we started a while ago the construction of the residential buildings which will be followed by the implementation of the shops phase. Generally speaking, 50% of the project has been completed. According to the schedule, the project will be completed within two years.

Q/6

 What is new on the Qontrac Developments projects agenda for the next year 2024?

During 2024, we aim to implement a huge residential project on the North Coast in Ras Al-Hikma, which is considered one of the hugest projects implemented by the government.

Q/7

Are you cooperating with any Egyptian or Arab companies in the implementation of the YARU project?

Qontrac Developments is an integrated construction group, and as I told you, the group consists of more than 10 companies of different disciplines belonging to the main group, which is the Abdellah Sons Group for Real Estate, Investment, and Contracting. The majority of the group’s projects are implemented only through these companies

Q/8

Recently, you were honored and awarded the “Best Arab Personality in the Contracting Sector Prize” in Dubai, what are the implications of that? How do you evaluate the UAE’s economic development at both the Arab and global levels?

The fact that I am honored in the sisterly UAE, and particularly in Dubai, as the most influential figure in the contracting sector in the Arab world is one of the honors I cherish most and I am very proud of it, especially since the sisterly UAE is one of the leading countries that has succeeded in developing and building its economy and achieving huge economic booms in various fields in record time, which placed it among the most advanced and technologically developed countries.

Q/9

How do you evaluate the Egyptian-Emirati relations, which have extended for decades from the era of the late Sheikh Zayed bin Sultan Al Nahyan, may God rest his soul, to the era of his successor, His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the UAE?

Egyptian-Emirati relations cannot be described in a few words, yet suffice it to say that the UAE and Egypt are the best supporters of each other in various areas, whether ideas, political visions, or economic and investment cooperation in various sectors.

Together they represent a great model of the Arab fraternity. I really feel proud when I visit the UAE to participate in projects or exhibitions to see that behind its development miracle is wise leadership whose only goal is to build for the future. May God Almighty protect the UAE, its wise leadership, and its great people.

Q/10

What are your recommendations as a national investor participating in the construction of the Egyptian City of Alamein?

Thanks to the directives of President Abdel Fattah El-Sisi, New Alamein has become the destination of local, Arab, and foreign tourism, and it needs more expansion as regards its hotel projects, the boosting of its infrastructure along the coastal strip, starting from El Alamein to Ras El Hikma, as well as the establishment of projects that will facilitate life for those who want to live in the city throughout the year, such as schools, factories, companies, hospitals and universities.

Q/11

What is the total value of the investments of Qontrac Developments?

We now have investments of about LE10 billion in the New Administrative Capital and the North Coast, and we seek to invest more in the West Cairo area in the cities of October – Sheikh Zayed as well as Ain Sokhna.

Q/12

To what extent has the foreign currency shortage crisis affected the real

estate sector market in Egypt in general? Do you see a way out of this crisis in line with the successive and tireless efforts of the government?

Of course, the real estate sector was affected as a result of the currency shortage crisis and the rise of the dollar against the Egyptian pound, especially as regards building materials such as iron, as we import large amounts of billet from abroad. As a result of this crisis, there was a slowdown in the previous period in the real estate market, but it has now ended due to good marketing of the real estate and the advanced infrastructure that connects the new cities together. As regards the hard currency crisis, I suggest supporting the tourism sector and promoting it well, as well as increasing local manufacturing to reduce imports and increase exports.