Dubai, UAE, 24 December 2018: SKM Air Conditioning has identified the chilled-water segment as a main driver for growth for the company, said Asim A Hashmi, Sales Director, Applied Business. Hashmi was speaking against the backdrop of the company’s annual gala dinner, held on November 28, in Dubai. The company’s top management attended the gala dinner, organised for SKM’s regional customers, business partners and suppliers from all the territories that the company operates in, including Middle East, Africa, India and Pakistan. In addition, delegations from industry associations attended the event.

Hashmi said that over the last 3-5 years, the company has placed a lot of focus on improving product certifications and on offering more competitive pricing, as part of its commitment to align with market requirements and to enhance its share in the chilled water segment. “We are going on 30-40% towards the chilled-water segment,” he said, adding that the company has taken more of the market share for chillers, air-handling units and fan-coil units from its competitors. In the Applied DX segment, Hashmi said, SKM is maintaining its share.

Sharing his insights on the current business environment, Hashmi said that while the conditions in the region are, overall, challenging and the market is down, the company sees a lot of scope for growth.

Speaking on growth opportunities in the United Arab Emirates, Saudi Arabia and Kuwait, Hashmi said the outlook is positive for the company. Additionally, he said that SKM is opening new markets, such as in Pakistan and countries in Africa, to further expand its share in the chilled-water segment.

Elaborating on the GCC region, Hashmi said, Saudi Arabia, in particular, offers good opportunities. “We were there more in the Applied DX segment with government projects,” he said. “Now, we are going in more on the chilled-water segment.”

Ahmed Fahmy, CFO, SKM Air Conditioning

With regard to upcoming projects that may emerge from the Neom project, a city the Kingdom is developing along the Red Sea coast, Hashmi said that while there are a lot of opportunities in the market, the situation is largely competitive with very tough delivery and pricing requirements.

Earlier, Ahmed Fahmy, CFO, SKM Air Conditioning, addressed the gathering, where he expressed his appreciation of the company’s regional customers, business partners and suppliers for working in a progressive manner with SKM.