Middle East projects boost Hadid company profits
An increased workload across the Middle East has contributed to a massive 26% increase in revenue for Zaha Hadid’s practice, according to company accounts which have just been made public.
The firm has also taken on an extra 64 staff.
Figures published by Zaha Hadid Holdings for the year to 30 April 2014 show a massive $16.3 million hike in turnover from £56.8 million to £71.1 million – with most of the growth driven by a burgeoning workload in the Middle East.
Projects include the Abu Dhabi Performing Arts Centre, the Bee’ah Centre for waste management in Sharjah, the Al Wakrah sports development in Qatar and the Central Bank of Iraq.
The company saw its revenue in the region grow from $14.3 million in 2013 to $29.9 million in 2014.
However, there were the dips in work in the UK and also in Europe, where the firm’s turnover more than halved.