ISG Middle East trading as usual despite fall of UK affiliate

Biscuit Imaging/Alamy via Reuters Connect

• 2,000 job losses at ISG UK
• ISG Middle East operates independently
• ‘Trading as usual,’ says spokesperson

The collapse last week of ISG, the UK’s sixth largest construction company, will not impact the work of its affiliate in the Middle East, a company spokesperson told AGBI. 

“As ISG Middle East, we operate independently from the UK entity, and we continue to trade as usual without interruption,” the spokesperson said. “We remain committed to delivering our projects and serving our clients and stakeholders with excellence.”

ISG’s administration in the UK has caused the immediate loss of more than 2,000 jobs, all of the company employees except for approximately 200 retained to deal with the bankruptcy proceedings, according to news reports.

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Dozens of construction sites, including many linked to government-funded projects, have been shut down. ISG, with nearly $3 billion in revenues, also counted Barclays, Google and Apple among its private sector clients.

One of its landmark projects in London was the velodrome built for the 2012 Olympic Games. 

ISG Middle East, with offices in Dubai and Abu Dhabi, recently completed a refurbishment of the Jumeirah Mina Al Salam hotel at Madinat Jumeirah.

It is also the appointed contractor for ICD Brookfield Place in Dubai International Financial Centre and fitted out new headquarters for telecommunications company Du in Dubai Hills, among other work.