Abu Dhabi – Mubasher: Al Jaber Group does not consider floating a stake on the stock market at the present time because of the ongoing tight economic circumstances driven by weak oil prices, said the CEO Fatima Obaid Al-Jaber.

"We have no intention to make an initial public offering currently. Most family businesses do not plan on turning into joint-stock companies", the CEO told Mubasher on the sidelines of INSEAD Global Business Leaders Conference.

"Not before two years", she commented on the timeframe for a future IPO, attributing this delay to the current economic problems. However, the remaining projects are making progress as planed with no cancellation or delay.

She expected the construction sector to boom by the end of this year after witnessing a period of recession on low oil prices, regarding any stagnation during the current span improbable.  

Al Jaber Group is a privately owned and multi-dimensional group of companies based in Abu Dhabi with a growing workforce of over 50,000 employees.