GCC ICT sector on track for exceptional growth in 2009
ALFalak Electronic Equipment & Supplies Co, a leading provider of technology-based solutions to the Middle East, is targeting revenues to grow by more than 11 per cent to reach SAR 500 million by the end of 2009. The SAR 150 million technology solutions firm further revealed that it will invest up 20 per cent of its total asset value to sustain its aggressive expansion program across the Gulf region, while gradually establishing its presence in other high-growth markets such as India and the US.
ALFalak noted that despite the global economic crisis, the GCC remains an exceptionally strong market for the ICT sector, as ICT adoption has been stimulated by strong government expenditure on state-of-the-art IT infrastructure and technologies as well as sustained investments by business organisations on new technologies and IT-based solutions.
Ahmed Ali Ashadawi, CEO and President, ALFalak, said, “Going into the final half of 2009, ALFalak remains firmly on track to achieve our revenue target of SAR 500 million. The company's growth in the midst of a global economic downturn has given us the upper hand in terms of accelerating our expansion initiatives and exploring new business prospects. This year's impressive sales performance likewise puts us in a favourable position to further grab more market share once the economy rebounds as we have made strategic investments in potentially high-growth areas across the GCC and in other regional markets."
“Moreover, we believe that ALFalak's strong revenue results reflect the company's commitment to provide high-quality services and deliver greater value to our customers in the region," added Ashadawi.
As part of its continuing efforts to maintain its leadership in the region’s ICT sector, ALFalak has revealed that it is expanding its IT storage capacity in the KSA, while the company will also build residential facilities for Saudi employees. ALFalak has also earmarked new investments for human resource development, aiming to reinforce its current workforce of over 900 employees spread across Saudi, Kuwait, Bahrain, UAE and Sudan.
ALFalak has consistently been ranked by Arab News as one of the top 100 companies in Saudi Arabia for four consecutive years. The company delivers enterprise IT solutions through a network of offices and trained technical personnel throughout the Middle East. ALFalak's portfolio of business partnerships include leading solution and software providers, hardware and consumable manufacturers, business consultancy firms and implementation specialists