The NSW arm of Roberts Co will not only retain its employees and subcontractors following its acquisition by an overseas developer, it will expand into new markets.
Bought up by Arada from the United Arab Emirates (UAE), the tier one commercial construction company will receive an immediate recapitalisation to the tune of $20 million.
This will secure “the jobs of 120 direct employees and provide essential stability to 600 employees across 200 subcontractors and suppliers connected to the business,” Arada stated.
Looking ahead, Arada is prepared to invest up to $100 million to expand the company into new markets, starting with the UAE, with the goal of building a global presence and annual revenue of $1 billion by 2028.
But the plan is still about focusing on Australia and strengthening Arada’s ability to deliver new residential communities and its commercial projects.
The developer says the acquisition guarantees the continued progress of Roberts Co’s current infrastructure projects in Sydney: Westmead’s Children’s Hospital, Cumberland High School, HOME Parramatta Build to Rent development, and Carlingford West Public School.
Roberts Co was founded in 2017 and has delivered some of NSW’s largest projects including Liverpool Hospital, Concord Hospital (pictured), North Shore Health Hub, Zurich Tower, and the Moxy Sydney Airport Hotel.
Image: Concorde Hospital redevelopment. Credit: Roberts Co.
About the author
Desi Corbett
Desi is the Editor of Concrete in Australia, at the helm since December 2013, and our weekly news writer since 2016. Focused on concrete and construction for more than 11 years, her expertise in this field forms part of a journalism career spanning three decades. To get in touch please email desi@corbettcomms.com