Finding Solutions: European CEO Jalal Fitoury talks to Building Magazine
In his first interview since stepping into the role, our European CEO, Jalal Fitoury sat down with Building Magazine’s Deputy Editor, David Rogers to talk about global shifts in the market, and the Group’s ongoing ability to adapt, collaborate, and innovate.
A culture of resilience
Reflecting on the geopolitical and economic hurdles of recent years, from the aftermath of the pandemic to ongoing global conflicts, Fitoury notes: “I think the industry has become more resilient. Post covid and Ukraine, we have learnt to deal with a level of uncertainty.”
“The mood is still positive because we can see resilience in the industry,” he adds. “In the past most things got paused. I don’t see that now. It’s: ‘let’s try to work around this and find a solution.”
“Uncertainty requires trust and collaboration, for people to work together to find solutions that work” he adds.
Continued momentum in London
The article spotlights Permasteelisa Group’s recent completion of the landmark 35-storey One Leadenhall scheme, and the major transformation of 334 Oxford Street into prime commercial and retail space, as well as the Group’s ongoing work on high-profile commercial towers at 60 Gracechurch Street and 50 Fenchurch Street, alongside the extensive Citi tower refurbishment in Canary Wharf. It also notes projects of interest for the future.
In addition, Fitoury highlights the five Pre-Construction Services Agreements (PCSAs) currently on the Group’s books. He adds: “PCSAs can be two things. They can help find an investment model that will work, or they can be stage three or four, where we’re starting to deliver the project and working through milestones for the developer.”
Looking ahead
Addressing the Group’s financial performance in the UK, Fitoury speaks transparently about legacy complexities and inflationary pressures, detailing the strategic regional restructuring which has been carried out to optimise project delivery, and the plans to clear these legacy accounts. “The balance sheet will be stronger” he comments. “We’ve reduced the risk tremendously and we’re continuing to do that. This year will see an improvement.”
Growing demand for retrofit
While iconic new-build towers continue to drive the pipeline, Fitoury also identifies a huge shift towards the refurbishment sector, driven by sustainability targets and the desire to avoid demolition, pointing to the rapid growth of the Group’s dedicated maintenance arm, FaçadeCare, which extends the lifecycle of existing structures, and has achieved an impressive 60% growth rate over the past 12 months.
Technical innovation
The interview also highlights the launch of slimline Closed Cavity Façade (CCF) technology, the engineering breakthrough which mimics a single-skin wall profile while retaining advanced thermal and shading capabilities, maximising a building’s Net Internal Area (NIA) and meeting modern environmental standards – a win-win for developers.
A company evolving
Finally, the article shines a light on Permasteelisa Group’s historical roots tracing back to a German steel workshop in 1868, through to its consolidation of European engineering powerhouses like Gartner and Scheldebouw, and its ongoing evolution, to remain at the forefront of the market.
Read the full article on Building Magazine online here.
Image: Jalal Fitoury photographed by Tom Campbell.