Winning a lead contractor role at Dubai's first mega-themed entertainment destination is helping Brayan Group springboard into new markets. Based in Dubai, Brayan Group employs 300 people and according to Brayan Group Chief Executive Praveen Sarapure the company expects to see turnover double this year from AED150 million (USD41 million) to AED300 million (USD82 million). The group currently operates in the UAE, India and Qatar, and has plans to expand in GCC countries including Oman and Saudi Arabia in the near future.
The business specialises in one-stop engineering solutions and recently won a major contract to design, supply and install the mechanical, electrical and plumbing systems at IMG Worlds of Adventure in the City of Arabia.
This flagship AED1.2 billion (USD327 million) park will be the world’s largest temperature controlled indoor entertainment destination and is designed to attract more than 20,000 visitors a day. It is backed by the Ilyas & Mustafa Galadari Group (IMG), which has a long history of entrepreneurship including real estate, automobiles, food storage and luxury boat distribution.
“IMG Worlds of Adventure is the first major theme park in the UAE since Ferrari World in Abu Dhabi (the largest indoor and first Ferrari theme park, opened in 2010), so it’s a very exciting project to be involved in,” explains Mr Sarapure.
“At least another five theme parks are coming here over the next five years including a Bollywood theme park and Hollywood theme park. So the IMG project is a fantastic opportunity to showcase our expertise with the aim of winning more business in this sector.”
Brayan’s contract includes the design, supply and installation of all heating, ventilation, and air conditioning systems across the 1.5m sq ft park. It is a huge job involving 100,000 sq ft of commercial air conditioning installation.
Brayan required facilities to develop the project – which needs to be completed within a year and includes purchases from Europe and Canada. Financial support was granted to Brayan via HSBCs AED1 billion International Growth Fund which helps aspirational SMEs build their overseas trade.
As well as extending funds from the International Growth Fund to Brayan, the bank also extended financing facilities to Brayan’s subcontractor Diplomat Engineering, a Dubai-based electrical and air conditioning specialist that is handling AED70 million (USD19 million) of the contract.
“HSBC have been very supportive,” says Mr Sarapure. “They’ve met with the owners of the park, they’ve been here every month to see the progress of the site and they’ve come to meetings with key advisers.”
“Our international ambition is to continue to grow in relatively up-and-coming markets like the UAE and the Middle East,” Mr Sarapure explains. “We also want to grow very big in India and in the renewable energy sector. We employ 50 to 60 people in Chennai in India and that’s a growing market for us. We’ve also just opened an office in West Africa – in Ghana – and in East Africa – Kenya – where we only do government-funded affordable housing and renewable energy projects.”
Mr Sarapure believes HSBC’s international presence and experience in the renewable energy sector will be vital to the business as it grows. Brayan Group has banked with HSBC since it was formed by Mr Sarapure in 2006.
“Wherever we open an office, we’ll be opening an HSBC account and using the bank’s corporate office in Dubai to help support our international operations,” he adds.
Brayan Group’s blue-chip client base includes Shell, Marconi, NatWest, IBM, Ramada and the Ministry of Health. Recent projects include the Dubai Sports City Cricket Stadium, Dubai Yacht Club and facilities for blue-chip clients including Strata, a supplier to Airbus and Boeing.
The company specialises in automation – including systems for monitoring and controlling a building’s energy use – and has 23,000 sq ft of in-house manufacturing facilities for electrical switchgear and air conditioning equipment.
Other factors driving growth for Brayan Group include the Expo 2020 world fair. To be held on a giant 438-hectare site on the edge of Dubai, this will be a six-month long exhibition of trade, innovation and products from around the world, and a showcase for the United Arab Emirates.
Disclaimer: This article is not intended to constitute any advice or an offer. Any forecasts or projections are indicative only. HSBC or any of its affiliates accepts no liability, whether express or implied, arising out of or incidental to contents forming part of the article.