Latest news with #ALEC
Business Insider
14-06-2025
- Business
- Business Insider
Alector CFO Marc Grasso to depart, Neil Berkley appointed Interim CFO
Alector (ALEC) announced that its CFO, Marc Grasso, M.D., will conclude his tenure with the company, effective June 20 to pursue other opportunities. Neil Berkley the company's Chief Business Officer, will assume the role of Interim CFO while continuing in his current position. Confident Investing Starts Here: Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Tahawul Tech
13-06-2025
- Business
- Tahawul Tech
data centre Archives
CNME Editor Mark Forker managed to secure an exclusive interview with ALEC Data Centre Solutions General Manager Bjorn Viedge, to find out why the construction giant has now decided to create a new subsidiary focused on the burgeoning data centre space – and how its new partnership with innovative startup Submer can take the heat off data centre providers struggling to manage cooling costs in the UAE.
Khaleej Times
01-06-2025
- Business
- Khaleej Times
ALEC Holdings releases 2024 ESG report, reflecting operational excellence and resilience
ALEC Holdings, a leading construction and related services company, today published its latest Environmental, Social and Governance (ESG) and Sustainability report, underscoring the company's commitment to responsible growth and sustained operational excellence across its UAE and KSA operations. The company's sustainability achievements have been recognised externally. ALEC was awarded the Dubai Chamber of Commerce ESG Label and earned the 'Committed' sustainability badge from EcoVadis. The EcoVadis assessment covered 21 criteria across Environment, Labour & Human Rights, Ethics, and Sustainable Procurement, further validating ALEC's robust ESG posture. 'We take pride in the results which showcase our maturing sustainability strategy that's fully integrated into our business model — not as a compliance exercise, but as a lever for resilience and regional growth. As ALEC continues to deliver complex, high-value projects across the region, our ESG commitments serve as a key enabler of operational excellence and stakeholder trust,' said Barry Lewis, CEO at ALEC Holdings. 'Our 2024 report reflects the tangible progress we've made in enhancing transparency, building workforce resilience, and embedding sustainability into every level of the business — from our project sites to the boardroom.' ALEC's reputation for governance and compliance was further reinforced this year by the successful rollout of 'ALEC ALERT' — a secure whistleblowing platform enabling employees, subcontractors and vendors to report unethical conduct anonymously. With 73.5% of staff* in the UAE and KSA completing ethics training, ALEC is fostering a culture of accountability that supports robust decision-making. This ethical foundation directly contributes to transparent financial practices and sound business stewardship, offering confidence to partners and stakeholders alike. ALEC completed a comprehensive double materiality assessment — a significant step in refining its ESG priorities. By engaging a wide array of internal and external stakeholders including employees, investors, clients, auditors, consultants, and community partners, the company ensured its ESG and decarbonisation approach reflects evolving risks, opportunities, and expectations. This emphasis on governance is matched by ALEC's enduring investment in people. In 2024, more than 4,600 workers were trained at ALEC's dedicated trade skills facility, contributing to a healthy pipeline of internal promotions from labour to staff roles and measurable employee career advancement. With 68 nationalities represented and nearly 40% of managers* having completed gender diversity training, ALEC is building an inclusive workforce that reflects the increasingly global nature of clients and communities it serves. 'Talent is one of the most critical assets for a business like ours, and our ability to attract, retain and grow top-tier professionals directly impacts the quality of what we deliver,' added Lewis. 'By investing in both upskilling and wellbeing, we ensure ALEC remains an employer of choice — and a partner clients can rely on to bring visionary projects to life.' On the environmental front, ALEC has taken impactful steps to decarbonise operations and strengthen climate resilience across its assets and operations. Most of the company's offices and factories in the UAE and KSA were refurbished in 2024, not just to improve energy and water efficiency, but also to enhance workplace experience. With solar-diesel hybrid generators and battery energy storage systems (BESS) deployed at four ALEC Construction project sites, ALEC is reducing its dependence on fossil fuels to power its sites while enhancing operational efficiency. These efforts align with national renewable energy strategies in both major markets for the company. Eight ALEC projects achieved LEED certification and five received a Pearl Estidama rating, with more under review. Beyond operations, ALEC continues to play an active role in enriching communities. Over 1,100 employees participated in CSR activities last year, contributing more than 548 volunteering hours that positively impacted over 6,300 people. Through partnerships with Dubai Cares, SmartLife (NPO/NGO) and Emirates Red Crescent, ALEC directed hundreds of thousands of dirhams towards education, labour welfare, and humanitarian initiatives in the UAE, Saudi Arabia, South Africa, and Nepal. 'As we target an aggressive phase of regional growth, we believe our ESG strategy not only protects value, but actively drives it,' said Lewis. 'Our goal is to set the benchmark for sustainable construction operations in the Middle East — delivering world-class projects while raising the bar for ethics, environmental responsibility and workforce empowerment.'
Trade Arabia
28-05-2025
- Business
- Trade Arabia
ALEC report outlines operational excellence, resilience for sustainable growth
ALEC Holdings, a leading construction and related services company, has released its latest Environmental, Social and Governance (ESG) and Sustainability report, underscoring the company's commitment to responsible growth and sustained operational excellence across its UAE and KSA operations. The company's sustainability achievements have been recognised externally. ALEC was awarded the Dubai Chamber of Commerce ESG Label and earned the 'Committed' sustainability badge from EcoVadis. The EcoVadis assessment covered 21 criteria across Environment, Labour & Human Rights, Ethics, and Sustainable Procurement, further validating ALEC's robust ESG posture. "We take pride in the results which showcase our maturing sustainability strategy that's fully integrated into our business model - not as a compliance exercise, but as a lever for resilience and regional growth," said Barry Lewis, CEO at ALEC Holdings. "As ALEC continues to deliver complex, high-value projects across the region, our ESG commitments serve as a key enabler of operational excellence and stakeholder trust," he stated "Our 2024 report reflects the tangible progress we've made in enhancing transparency, building workforce resilience, and embedding sustainability into every level of the business — from our project sites to the boardroom," he added. ALEC's reputation for governance and compliance was further reinforced this year by the successful rollout of 'ALEC ALERT' — a secure whistleblowing platform enabling employees, subcontractors and vendors to report unethical conduct anonymously. With 73.5% of staff* in the UAE and KSA completing ethics training, ALEC is fostering a culture of accountability that supports robust decision-making. This ethical foundation directly contributes to transparent financial practices and sound business stewardship, offering confidence to partners and stakeholders alike. ALEC said it has completed a comprehensive double materiality assessment - a significant step in refining its ESG priorities. By engaging a wide array of internal and external stakeholders including employees, investors, clients, auditors, consultants, and community partners, the company ensured its ESG and decarbonisation approach reflects evolving risks, opportunities, and expectations, it stated. This emphasis on governance is matched by ALEC's enduring investment in people. In 2024, more than 4,600 workers were trained at ALEC's dedicated trade skills facility, contributing to a healthy pipeline of internal promotions from labour to staff roles and measurable employee career advancement. With 68 nationalities represented and nearly 40% of managers* having completed gender diversity training, ALEC is building an inclusive workforce that reflects the increasingly global nature of clients and communities it serves, it added. 'Talent is one of the most critical assets for a business like ours, and our ability to attract, retain and grow top-tier professionals directly impacts the quality of what we deliver,' remarked Lewis. 'By investing in both upskilling and wellbeing, we ensure ALEC remains an employer of choice — and a partner clients can rely on to bring visionary projects to life,' he added. On the environmental front, ALEC has taken impactful steps to decarbonise operations and strengthen climate resilience across its assets and operations. Most of the company's offices and factories in the UAE and KSA were refurbished in 2024, not just to improve energy and water efficiency, but also to enhance workplace experience. With solar-diesel hybrid generators and battery energy storage systems (BESS) deployed at four ALEC Construction project sites, ALEC is reducing its dependence on fossil fuels to power its sites while enhancing operational efficiency.
Zawya
28-05-2025
- Business
- Zawya
ALEC Holdings' 2024 ESG Report reflects operational excellence and resilience for sustainable, long-term growth
Dubai, UAE – ALEC Holdings (ALEC), a leading construction and related services company, today published its latest Environmental, Social and Governance (ESG) and Sustainability report, underscoring the company's commitment to responsible growth and sustained operational excellence across its UAE and KSA operations. The company's sustainability achievements have been recognised externally. ALEC was awarded the Dubai Chamber of Commerce ESG Label and earned the 'Committed' sustainability badge from EcoVadis. The EcoVadis assessment covered 21 criteria across Environment, Labour & Human Rights, Ethics, and Sustainable Procurement, further validating ALEC's robust ESG posture. 'We take pride in the results which showcase our maturing sustainability strategy that's fully integrated into our business model — not as a compliance exercise, but as a lever for resilience and regional growth. As ALEC continues to deliver complex, high-value projects across the region, our ESG commitments serve as a key enabler of operational excellence and stakeholder trust,' said Barry Lewis, CEO at ALEC Holdings. 'Our 2024 report reflects the tangible progress we've made in enhancing transparency, building workforce resilience, and embedding sustainability into every level of the business — from our project sites to the boardroom.' ALEC's reputation for governance and compliance was further reinforced this year by the successful rollout of 'ALEC ALERT' — a secure whistleblowing platform enabling employees, subcontractors and vendors to report unethical conduct anonymously. With 73.5% of staff* in the UAE and KSA completing ethics training, ALEC is fostering a culture of accountability that supports robust decision-making. This ethical foundation directly contributes to transparent financial practices and sound business stewardship, offering confidence to partners and stakeholders alike. ALEC completed a comprehensive double materiality assessment — a significant step in refining its ESG priorities. By engaging a wide array of internal and external stakeholders including employees, investors, clients, auditors, consultants, and community partners, the company ensured its ESG and decarbonisation approach reflects evolving risks, opportunities, and expectations. This emphasis on governance is matched by ALEC's enduring investment in people. In 2024, more than 4,600 workers were trained at ALEC's dedicated trade skills facility, contributing to a healthy pipeline of internal promotions from labour to staff roles and measurable employee career advancement. With 68 nationalities represented and nearly 40% of managers* having completed gender diversity training, ALEC is building an inclusive workforce that reflects the increasingly global nature of clients and communities it serves. 'Talent is one of the most critical assets for a business like ours, and our ability to attract, retain and grow top-tier professionals directly impacts the quality of what we deliver,' added Lewis. 'By investing in both upskilling and wellbeing, we ensure ALEC remains an employer of choice — and a partner clients can rely on to bring visionary projects to life.' On the environmental front, ALEC has taken impactful steps to decarbonise operations and strengthen climate resilience across its assets and operations. Most of the company's offices and factories in the UAE and KSA were refurbished in 2024, not just to improve energy and water efficiency, but also to enhance workplace experience. With solar-diesel hybrid generators and battery energy storage systems (BESS) deployed at four ALEC Construction project sites, ALEC is reducing its dependence on fossil fuels to power its sites while enhancing operational efficiency. These efforts align with national renewable energy strategies in both major markets for the company. Eight ALEC projects achieved LEED certification and five received a Pearl Estidama rating, with more under review. Beyond operations, ALEC continues to play an active role in enriching communities. Over 1,100 employees participated in CSR activities last year, contributing more than 548 volunteering hours that positively impacted over 6,300 people. Through partnerships with Dubai Cares, SmartLife (NPO/NGO) and Emirates Red Crescent, ALEC directed hundreds of thousands of dirhams towards education, labour welfare, and humanitarian initiatives in the UAE, Saudi Arabia, South Africa, and Nepal. 'As we target an aggressive phase of regional growth, we believe our ESG strategy not only protects value, but actively drives it,' said Lewis. 'Our goal is to set the benchmark for sustainable construction operations in the Middle East — delivering world-class projects while raising the bar for ethics, environmental responsibility and workforce empowerment.' Methodology ALEC Holdings 2024 ESG report covers the period from 1 January 2024 to 31 December 2024 and relates to the company's UAE and KSA operations. The report partially aligns with leading global ESG frameworks including the Global Reporting Initiative (GRI) Standards, the United Nations Global Compact's 10 principles, the Sustainability Accounting Standards Board (SASB) Engineering & Construction Services metrics, and the Dubai Financial Market's ESG reporting guidelines. About ALEC ALEC Holdings, part of the Investment Corporate of Dubai (ICD), is a leading construction and related businesses group operating in the UAE and KSA. The company builds and provides construction solutions that set industry benchmarks for quality, safety, functionality, and aesthetics. ALEC Holdings offers its clients complete turnkey solutions in construction, MEP, fit-out, marine, oil & gas, modular construction, energy efficiency and solar projects, heavy equipment rental, technology systems and asset maintenance. With these capabilities, the company successfully serves a diverse range of sectors including airports, retail, hotels & resorts, high-rise buildings, and themed projects.
