Abu Dhabi registers 893 firms

The Abu Dhabi Department of Economic Development (ADDED) registered 893 new construction firms under 42 categories last year, a statement said. It has also renewed 813 licences and modified 26. Licence renewals increased by 30 per cent compared to 623 renewals in 2010. Since the implementation of new regulations, 42 engineering consulting offices were classified in Abu Dhabi, whereas the number of registered and classified engineering consulting offices amounted to 684. Article continues below Equal distribution \"The most important feature of these systems is that they ensure equitable distribution of projects among all categories of classifications, and offer equal opportunities for all contractors and consultants, through stating of estimated values of projects that may undertaken, and ensuring that all contractors and consultants will abide by this distribution through periodic and random inspections,\" said Ahmad Abdul Rahman Al Burkani, the Director of the Contractors and Consultants Classification, and Engineers Registration Office. The Contractors and Consultants Classification, and Engineers Registration Office of the ADDED applied new systems in November 2010. The total number of classified and unclassified contracting companies in Abu Dhabi reached 6,123, whereas the number of companies classified by the new system was 358. Meanwhile, the number of companies classified according to the old system stood at 1,482, bringing the total number of classified contracting companies in Abu Dhabi to 1,840 and the number of unclassified to 4,283. The Contractors Classification Office embarked on the re-organisation and restructuring of the activities of contractors, consultants and engineers to keep pace with developments in Abu Dhabi last year, especially in the construction sector, one of the most important contributors to GDP growth in the emirate. Grace period Al Burkani explained that since the implementation of the new classification system, engineering offices continued to work towards abiding by the new regulations within the two years grace period, which will end on November 21. Construction companies classified according to the old system were given a beathing period of four years. The application of new classification systems inspired contractors and consultants adjust their positions and be classified according specific criteria and standards commensurate with expertise and financial and technical capabilities.