QATAR - Real Estate & Construction
Regional Director, STFA Qatar
Turgut Kamil Dizdaroğlu graduated from Boğaziçi University and later joined STFA, working in Libya and Saudi Arabia from 1978 to 1984, where he became the Country Finance and Administration Manager. He went on to occupy a number of more senior positions within the firm, also spending time at various other firms, including as Finance Manager at ISGEN Leasing and Vice-President of Finance and Participation at Toros Fertilizers. He also took up other positions within Tekfen Group, also working for CNR Fairs and Exhibitions as CFO. He worked for Summa Group as Financial and Administrative Coordinator before joining STFA Group again in 2008. He is currently Regional Director at STFA Qatar.
STFA was the first Turkish construction company in Qatar. We have completed nine projects, but they have all been marine projects. Marine engineering projects have been our priority since the establishment of the company. We look forward to challenging projects that we can add value to. Since we sometimes do not have all the knowledge on a specific project, we team up with other foreign companies that have the right capabilities. So far, we are satisfied with our performance. There are some companies, like Ashghal and Kahramaa, which are going to issue new tenders. They are important players in the Qatari construction sector, and we need to adapt to their requirements and then try to increase our market share. I believe that in the coming years it is going to be easier for the companies that have been operating in Qatar for a long time, because they know how it works here.
Moreover, I expect the margins to go up because there will be a lot of contractors already engaged in other projects. They all have limited resources and will not be able to cover the coming projects until they have completed their current projects. This will take another three to four years. That means there will be more opportunities for new contractors to enter the market. Qatar is really trendy now. It has a highly competitive environment and provides a lot of opportunities for growth. We aim at staying in Qatar for the long term.
We have rules and regulations for immigrant workers, and the authorities inspect our labor camp on a regular basis. There will be more and more areas becoming regulated environments. On the other hand, I feel that standardization is approaching a level that it is making things over-complicated for the contractors that are entering Qatar. This can be a big barrier. In my opinion, companies with only Russian or Ukrainian experience will never be able to survive in Qatar because they fail to comply with the high safety requirements found here. This is a potentially beneficial situation for us and for other companies who really know the country. STFA is now treated like a local company.
We won this tender with our partners and it is the largest contract ever signed by a Turkish contractor outside of Turkey. The eventual map of the Doha Metro network can still be expanded by 25% so we hope to be able to compete in that as well when the time comes. We are very excited because this project will ensure five years of future work for our company. Since it is a five-year project, it will create a balanced income. Once we have the right set up in Qatar, it will become a revenue source for STFA. This will allow us to expand our activities and feel more stable. This is greatly important for the construction business as it has lots of ups and downs. Eventually, we will have gained outstanding experience and we will have very skilled engineers. Considering that there will be projects worth $200 billion for the construction of railways in the Gulf area in the coming 10 years, this experience can add value to STFA in the whole region.