The Financial Crisis - Stanton Chase International

FEBRUARY 2009 T h e O n l i n e E x e c u t i v e N e w s f o r C o r p o r a t e L e a d e r s
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Interview
Out to Lunch!
with Mr. Mr Mahendra Patel,
Group Managing Director of Geap International
Mahendra Patel is the Group Managing Director of Geap International
since its inception in the U.A.E. about 40 years ago.
The company that had a modest beginning employing 2 people
has diversified into a major group of 18 companies active in international
trading, specialized contracting, processing facilities,
manufacturing, real estate, a wide range of food imports and
distribution, shipchandling and acquisitions, presently employing
more than 700 people from various nationalities.
Apart from the operations in the U.A.E. and the Sultanate of
Oman, the Group is actively involved in acquisition of manufacturing
plants in Europe and the United Kingdom by providing
senior level management and financial support under the direct
guidance of Messes. Mahendra and Manish Patel.
Executive
Newswire
— What brought you to the U.A.E. about 40 years ago?
I come from Gujarat in India, from a business family that dates back to
the 18th century. Although we started as cotton growers, my great
grandfather introduced the first ginning unit which seemed the beginning
of our involvement in manufacturing as well. So, by definition,
as a family we have always been exploring the various available
non-explored opportunities. We began investigating the Middle Eastern
market from 1968, as we wanted to be part of the action.
Our aim was to create a manufacturing company that would serve the
growing construction needs of this market. Dubai was chosen based
on the political security and the growth potential it was offering, both
as a local market as well as an upcoming hub for international business.
I had the great privilege to meet Sheikh Rashid and learn and
get inspired from his vision.
We believed in the region and invested in it, using our education and
strong managerial background. Thus, I can say that our dream came
true as Geap International got involved in all the major construction
works (like the Jebel Ali port, the Emirates Towers, the Burj al Arab, the
Burj Dubai etc) that changed the image of Dubai and draw the attention
and admiration of the whole world.
— How would you compare Dubai or the U.A.E. 40 years ago and now?
There is one thing that has not changed at all during all these years:
the policy of the ruling authorities. From the very beginning, the rulers
of the U.A.E. have developed a vision, and their policy has remained
consistent towards this end. They developed the immigration laws,
making it easy for people to move to the U.A.E. and establish themselves
and their families here. They realized that people were, are and
will always be the strength of this region, and they tried hard to make
them feel comfortable and happy here. Expatriates in the U.A.E. enjoy
the lifestyle they have been used to from their home countries, without
though endangering the local culture. This focus on people and
the consistency towards this goal has made all the difference for the
success of the region.
It is true that many speculative traders were drawn to the market, because
of the advantages it offered. They developed a short-term perspective
for the country, which does not fit the long-term vision of the
rulers. Inevitably, this will soon change, as the market is moving towards
corrective actions and will adjust to the quality perceived and
wanted.