13 Dec 2022
DUBAI, UNITED ARAB EMIRATES – Plenary Group’s expansion into the Middle East continues, following the official opening of its second office in the UAE, in Dubai.
Plenary Chair John O’Rourke and Chief Investment Officer Paul Crowe recently visited to launch the Dubai office and to meet local government officials and industry partners as part of official celebrations.
It follows the opening of Plenary’s Abu Dhabi office in August, and earlier this year Plenary achieving financial close on its first project in the Middle East, the Zayed City Schools PPP. The project is the UAE’s first schools infrastructure public-private partnership and the growing pipeline of new PPP projects by Abu Dhabi Investment Office (ADIO) and Dubai Department of Finance.
Plenary is sponsor, financial arranger, SPV manager and investor in the project, part of the BESIX-Plenary consortium selected to finance, design, build and maintain three schools for 20 years, facilitated under the procurement agency ADIO and in partnership with the Abu Dhabi Department of Education and Knowledge.
Plenary Chair John O’Rourke said, “The region is maturing as a hub for PPPs, and we are pleased to be involved, working alongside such willing government partners and some of the global companies with which have established relationships in Australia and North America.”
Plenary Chief Investment Officer Paul Crowe said, “We are encouraged by the pipeline of likely infrastructure projects across the Middle East. We are investing and building a team locally in the UAE and the next 12 months will see us focus on social infrastructure including education and health, and transport infrastructure including rail and road.”
Mr Crowe said Plenary is currently shortlisted on another PPP project and was actively bidding on others in the area, with an initial focus on Abu Dhabi, Dubai, Northern Emirates and Bahrain.
UAE Ministry of Foreign Affairs and International Cooperation Deputy Director of Economic and Trade Affairs Department Rashed Abdulla Alteneiji said, “Plenary’s launch in Dubai reflects the UAE’s flexible and attractive business environment characterized by the ease of doing business, fast duration to set up offices, and the numerous incentives provided to investors to expand in the UAE. I applaud Plenary for their growth and expansion in the UAE as they have recently been awarded the PPP schools project in Abu Dhabi, and they are a part of many bids for infrastructure projects in the UAE. I wish Plenary all the best in their endeavours in the UAE as they represent a successful example of perusing, following and implementing their expansion vision.”
ADIO Acting Director General Eng. Abdulla Abdul Aziz AlShamsi said, “PPP projects have played an important role in developing key infrastructure in Abu Dhabi, while creating significant investment opportunities for businesses. The Abu Dhabi government continues to ramp up its partnership with the private sector by facilitating more projects for participation. As the procurement agency and regulator for PPP in Abu Dhabi, ADIO is committed to supporting businesses like Plenary Group as they expand in the emirate and take part in the opportunities available.”
Construction of the Zayed City Schools project is underway and is due to be completed and operational in 2024.
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