Philips Lighting pursues further in-market growth with new office in Qatar

Philips Lighting (Euronext Amsterdam ticker: LIGHT), a global leader in lighting has announced the opening of a new office in Doha, Qatar, one of the most strategic growth markets regionally. The new office will enable Philips Lighting to expand operations in the country and further grow its portfolio of local customers. The company has pre-existing offices in UAE, Saudi Arabia, Lebanon and Egypt.

Recently appointed Managing Director for Turkey and Middle East (excluding KSA), Philips Lighting Goktug Gur, speaking at the launch said, “Thanks to Qatar’s favorable investment climate, we have had the opportunity to support some of the region’s biggest mega projects with our LED-based solutions, spurring the growth of our Middle Eastern operations and with it the launch of our local office. Thanks to our new in market presence we will be able to work in line with country’s National Vision 2030, to support the development of Qatar’s world-class infrastructural backbone, while building on government initiatives that reduce carbon footprint and enhance energy delivery through technology innovation.”

Housed in Qatar Financial Centre, the office was inaugurated by H.E Netherlands Ambassador to Qatar Dr. Bahia Tahzib-Lie at an exclusive event attended by Philips Lighting’s regional management and valued Qatari clients. Netherlands Ambassador to Qatar, HE Dr. Bahia Tahzib-Lie commented, “It is encouraging to see the growing volume of trade between Qatar and the Netherlands, and with it, the growing number of Dutch companies opening offices in market. The Middle East is a key region for the Netherlands as Philips Lighting has demonstrated, operating in the region since the 1970s. I am excited to see the developments that results from this latest office opening in Doha, as Philips Lighting works closely with Qatar in support of its sustainability agenda.”

Philips Lighting first entered operations in Qatar in 2015 working with strategic partners across a number of verticals. The company has provided its sustainable solutions to several Qatar-based projects recently, including the 244,000sqm Salwa Resort located in Doha Festival City, Khalifa Stadium, the first World Cup stadium developed for the 2022 games, and other milestone projects such as the Ministry of Interior headquarters in Wadi Al Sail. Philips Lighting remains deeply committed to driving its revenues from sustainable products, systems and services and in 2016 it increased these revenues to 78% of total sales from 72% a year earlier. This represents an increase to EUR 5.5 billion in sales from EUR 5.3 billion in 2015 and underscores progress the company is making on its sustainability program ‘Brighter Lives, Better World’, a program that continues to inform its regional strategy.

In 2016, Philips Lighting reduced its carbon footprint by 39% globally and by end of 2016 its operations in UAE are carbon neutral. Globally the company aims to deliver 80% of its total revenues through sustainable products, systems and services by 2020. By 2016, Philips Lighting delivered 628 million LED lamps as part of a commitment to deliver 2 billion LED lamps by 2020.