Tejari transactions to hit $3b

Tejari is the leading B2B online marketplace in the emerging markets and the main focus area of the company is to help organisations transform their procurement and supply with best in class technologies and world class professional services.

“I think in 2011 we had about $250 million [transactions value] and this year we are going to do $2 billion to $3 billion mostly because of new clients,” Tejari chief executive officer Nader Sabbaghian told Khaleej Times on Sunday on the sidelines of opening of a new office in Dubai Media City.

Talking about new customers, Sabbaghian said the company has got about a dozen new major customers this year.

“Most of the clients are the UAE-based as we have got DP World, Etihad Airways, and Government of Abu Dhabi,” he added.

Target markets for the company are larger economies, he said, adding that Gulf countries are on priority list for getting new clients.

“Saudi Arabia and Qatar are very important markets for us as the GCC in general will be the first point of focus. In the pipeline we have several clients in Kuwait, Oman, and Saudi Arabia,” he said. Deals are not closed, but on under discussion, he added.

“We will plan to open offices in Saudi Arabia, Qatar, Kuwait and Oman, but all depend on clients.”

He mentioned that the Middle East markets are very promising in general, but slightly behind Europe and the US in terms of adoption of these innovations. But right now there is strong motivation to undertake these initiatives, he added.

“We are very competitive because we have invested locally unlike many of our close competitors, which are mostly US-based,” he said.

Earlier, Shaikha Lubna Al Qasimi, UAE Minister for Foreign Trade, inaugurated the new office of Tejari at the Dubai Media City. The event was attended by high ranking officials from Dubai World, DP World, government departments and government related enterprises.

Shaikha Lubna said that the UAE considers technology an important ingredient for enduring growth.

“We are in fact in the midst of transitioning the country into a digital, knowledge-based society that relies heavily on innovation to fulfil its development goals,” Shaikha Lubna said after opening the office.

She was the first chief executive officer of Tejari in June, 2000. Since then it has grown to a team of over 500 professionals from 34 countries, speaking 40 languages serving over 400 clients. Its software suite used by 40,000 procurement professionals in 60 countries. It operates out of 13 offices located in 10 countries across three continents. The online company provides effective support to a rising portfolio of global and local organisations operating in the region.

Sultan Ahmed bin Sulayem, Chairman DP World, said: “This is a major landmark in our growth and we are delighted that Shaikha Lubna Al Qasmi, the first CEO of this initiative, is here with us to mark this occasion.”

— abdulbasit@khaleejtimes.com