ALFalak Electronic Equipment & Supplies Company, a leading provider of technology-based solutions to the Middle East, is targeting revenues growth of more than 11 per cent to reach SR500 million ($133.5 million) by the end of 2009.

The SR150 million technology solutions firm further revealed that it will invest up 20 per cent of its total asset value to sustain its aggressive expansion program across the Gulf region, while gradually establishing its presence in other high-growth markets such as India and the US.

ALFalak noted that despite the global economic crisis, the GCC remains an exceptionally strong market for the ICT sector, as ICT adoption has been stimulated by strong government expenditure on state-of-the-art IT infrastructure and technologies as well as sustained investments by business organisations on new technologies and IT-based solutions.

“This year's impressive sales performance puts us in a favourable position to further grab more market share once the economy rebounds as we have made strategic investments in potentially high-growth areas across the GCC and in other regional markets,' stated Ahmed Ali Ashadawi, chief and president, ALFalak.

As part of its continuing efforts to maintain its leadership in the region’s ICT sector, ALFalak has revealed that it is expanding its IT storage capacity in the KSA, while the company will also build residential facilities for Saudi employees. ALFalak has also earmarked new investments for human resource development, aiming to reinforce its current workforce of over 900 employees spread across Saudi, Kuwait, Bahrain, UAE and Sudan.

ALFalak has consistently been ranked by Arab News as one of the top 100 companies in Saudi Arabia for four consecutive years.-TradeArabia News Service