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The document discusses mega projects in the GCC region and risks associated with them. An expert, Anthony Holmes, warns that mega projects in the region are at risk of going over budget by 40-80% based on international experience, and that the project program in Qatar alone may cost $80 billion more than expected. Holmes also notes that there needs to be better coordination of information and establishment of a non-partisan body to capture data on future trends in the regional projects market.
The document discusses mega projects in the GCC region and risks associated with them. An expert, Anthony Holmes, warns that mega projects in the region are at risk of going over budget by 40-80% based on international experience, and that the project program in Qatar alone may cost $80 billion more than expected. Holmes also notes that there needs to be better coordination of information and establishment of a non-partisan body to capture data on future trends in the regional projects market.
The document discusses mega projects in the GCC region and risks associated with them. An expert, Anthony Holmes, warns that mega projects in the region are at risk of going over budget by 40-80% based on international experience, and that the project program in Qatar alone may cost $80 billion more than expected. Holmes also notes that there needs to be better coordination of information and establishment of a non-partisan body to capture data on future trends in the regional projects market.
S UN D A Y , M A Y 1 1 , 2 0 1 4 Mega Projects Could Cost More Than Expected With more than $2.5 trillion worth of projects in prospect in the years to 2030, the GCC is set to enjoy one of the greatest construction booms the world has ever seen. But there are risks as well as rich prizes for those bidding for major projects in the region, says Anthony Holmes, director of the UKs Institute for Infrastructure Studies and an internationally recognized authority on the economic impact of Mega Projects. The chances of there being problems with the regions Mega Project program are enormous, Holmes says. Elsewhere in the world, these projects tend to go 40-80 percent over budget. International experience has also shown that big projects dont get delivered on time. Whats happening in the Middle East region to suggest the outcome will be different? says Holmes. There is nothing. It is all being done in the same way. This could mean that the project program in Qatar alone is going to cost at least $80bn more than budgeted. MEED(Middle East Economics Digest) estimates that at least 150 projects each worth a minimum of $1bn are due to be completed in the GCC by 2030. Their combined value is estimated at close to $ 900bn, more than one-third of the value of all projects under way at present or planned in the region. Details of some of these Mega Projects will be comprehensively UAE MEGA PROJECTS IS THE ULTIMATE ONLINE RESOURCE FOR: INVESTORS, DEVELOPERS, BROKERS, OTHER PROFESSIONALS AND ANYONE INTERESTED IN THE REAL ESTATE PROJECTS OF THE MIDDLE EAST. Burj Khalifa, Dubai, Grand Opening: powered by
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UAE MEGA PROJECTS Started In 2007 By Middle East Real Estate Expert Brett Siegel, UAE MEGA PROJECTS Completely Covers The Incredible Mega Projects Being Developed In The United Arab Emirates: Dubai, Abu Dhabi, Sharjah, Ras Al Khaimah, Ajman, Fujairah And Umm Al Quwain. Also Covering: Bahrain, Qatar, Oman, Egypt, Lebanon, Kuwait And Saudi Arabia. Includes Over 50 Mega Project Industry News Feeds Continuously Updated Giving You The Most Current And Complete Information Available! Page 2 UAE MEGA PROJECTS 13-May-14 2:59:23 PM http://uaemegaprojects.blogspot.ae/ discussed at the forthcoming Arabian World Construction Summit (AWCS) on May 12-14, 2014 in the Sofitel Hotel Palm Jumeirah, Dubai. During the conference, local and international experts will also discuss project opportunities and challenges throughout the Arab world, with rising costs as one of the most important factors that could impact on completion and delivery of Mega Projects. What is clear is that theres an enormous concentration of planned project activity in the region, Holmes says. You have to think about the material needed to execute all that work. There doesnt seem to be sufficient work done on quantifying the needs in the years to 2030. The rise in costs may be something that Qatar can absorb, but competition for building material, equipment and talent will have an impact on poorer nations in the region. If you look at places like Turkey and Egypt, you see that they wont be able to do the things they want, says Holmes. Resources are going to be diverted to Qatar and other GCC markets. GCC countries also dont have to go to the international capital market, says Holmes. But others in the region like Egypt, Oman and Turkey will have to. So even if GCC countries can afford the additional costs, there will be regional implications. Holmes, an economist and former investment banker, will moderate the infrastructure Mega Project development Masterclass during the Arabian World Construction Summit. He will also participate in the conference as an expert panelist. At the AWCS, Holmes will highlight the risks facing all those involved with delivering Mega Projects. But his focus will be identifying actionable solutions. What can be done is better co-ordination, particularly in information, he says. You cant make decisions about material resources unless you have information. We need someone to establish a non-partisan body and capture data about future trends in the regional projects market. And there needs to be a regional investment bank that looks only at infrastructure projects. Adding to Holmes comment on the importance of capturing hard data about future trends, Alistair Kirk, industry expert and Middle East Head of Infrastructure at EC Harris says, Key pieces of infrastructure stimulate wider economic growth and generate agglomeration benefits from supporting urbanization and industrial growth to providing stronger trade links. With the major construction boom expected in the region over the next 14 years, relevant industry data and research, pertaining to the infrastructure sector, is fundamental for industry players. Highlighted within the 2014 Global Infrastructure Investment Index (GIII), the UAE and Qatar are highly ranked among the worlds 40 most dynamic countries with greatest potential for growth and investment in infrastructure. The analysis reveals insights into the peculiarities and opportunities in these countries, showcasing areas for long-term growth, financial risks and financial investor prospects. EC Harris GIII report is expected to launch regionally this quarter to further support the regions infrastructure Mega Projects. Regional experts across the sectors from EC Harris will participate and speak at the conference this week. "I RECOMMEND READING UAE MEGA PROJECTS FOR PROJECT REFERENCE OR FOR INVESTORS WHO ARE INTERESTED IN INVESTING IN THE UAE AS IT GIVES A CLEAR VIEW OF THIS MARKET, AND MANY THANKS FOR BRETT ON DOING SUCH A GREAT INITIATIVE ." Mubarak Al Amry, COO, Al Amry Group, Abu Dhabi Brett Siegel - Profile and Contact: View my complete profile Share and Save UAE MEGA PROJECTS: Atlantis The Palm, Dubai: powered by Ferrari World, YAS Island, Abu Dhabi: Page 3 UAE MEGA PROJECTS 13-May-14 2:59:23 PM http://uaemegaprojects.blogspot.ae/ Posted by Brett Siegel at 9:50 AM As the premier construction event in the region, AWCS received overwhelming support from projects market stakeholders, such as CPC and HSBC which signed up as the events Strategic Event Sponsors; Hyder Consulting and BESIX / Six Construct as Gold Sponsors; Projacs, AGIS and Mashreq as Silver Sponsors; Drake & Scull, Hill International, Zurich and AKSA as Conference Sponsors; Bentley Systems as the CEO Forum Sponsor and Deloitte as Knowledge Partner. No comments: M ON D A Y , A P R I L 2 8 , 2 0 1 4 GCC Invests Heavily In Turkish Real Estate Demand for luxury residences in upmarket districts of Istanbul continues to rise, fueled by buyers from the Middle East who are also attracted by investment opportunities presented by developments in the citys growing suburbs, said Turkish property agency Spot Blue International Property in April. In March 2014 alone, foreigners bought 478 properties in Istanbul, out of a nationwide total of 1,362, according to the Turkish Statistical Institute. Istanbul accounted for 20 percent of all property transactions in Turkey during March. Evidence suggests that districts such as Bebek and Nianta on the European side of the city, and Badat Street on the Asian side are helping to drive foreign sales, as they attract an increasing number of wealthy citizens from the Gulf Nations. Sales to foreigners are further boosted by Middle Eastern investors targeting buy-to-let opportunities in residential developments in the suburban districts of Bahcesehir, Sariyer, Beylikduzu, Arnavutkoy and Esenyurt. The Gulf-Turkish affair is gaining momentum, said Julian Walker, director at Spot Blue International Property. Only this month, Istanbul hosted an investment summit during which Turkish President Abdullah Gul invited investors from Kuwait, Qatar, Saudi Arabia and the United Arab Emirates to come to Turkey. Earlier in the year, a Turkish delegation was in Qatar promoting Turkey while a Kuwait Turkish Real Estate Forum will take place in Kuwait at the end of April. At Spot Blue we have seen a rise in interest from Kuwaitis and Qataris in particular in recent weeks. For Gulf investors, Istanbul is an attractive stepping stone between the East and West, as well as a place to be seen. Confidence in Istanbuls property market has been boosted by a series of infrastructure projects set in motion by the governing AK Party, including a new mega airport and improved transport links between the Asian and European sides of the city, as well as an extension of the underground. In addition, $50 Billion has been committed to re-developing entire districts to ensure all buildings are earthquake proof. Construction is currently Turkeys biggest industry sector. Growth in Istanbuls real estate market is unmatched by European markets, most of which remain depressed, and price growth is occurring at similar levels to London. Typical buy-to-let investments are in the $150,000 to $200,000 bracket, continued Julian Walker. The market is moving quickly though. Our representative in Istanbul reports that new apartments in prime areas of Beylikduzu that were on the market six months ago for $80,000 could be worth circa $ 100,000 once the development is completed later in the year. powered by Capital Gate, Abu Dhabi: powered by Shams Abu Dhabi, Reem Island: powered by ALDAR Headquarters, Abu Dhabi: Page 4 UAE MEGA PROJECTS 13-May-14 2:59:23 PM http://uaemegaprojects.blogspot.ae/ Posted by Brett Siegel at 10:32 AM Complementing Istanbuls growing status amongst the international jet set is its increasing appeal to tourists. The city was voted the best place to visit in the world in this years TripAdvisor Awards, while 35 million people visited the country as a whole last year, a 10 percent increase over 2012, according to the countrys Culture and Tourism Ministry. No comments: WE D N E S D A Y, A P R I L 1 6 , 2 0 1 4 $4 Trillion Construction Boom In MENA Region! With more than $40bn worth of new contracts awarded in the six- nation GCC alone in the first quarter, the projects markets of the Middle East are set to enjoy a record-breaking year in 2014. So far, the high profile projects that have been awarded include the $12bn Kuwait National Petroleum Companys Clean Fuels Project; Qatars Ashgal has so far awarded over $3bn for the Expressway and LRDP projects; Abu Dhabis Musanada has awarded over $1bn worth of contracts for the Mafraq-Ghuweifat Road Development project; Qrail has awarded $700mn worth of contracts for the Elevated Section of the Doha Metros Red Line South project; and Al Reem Island in the UAE has awarded the main contract with a value of $ 705mn. MEED's (Middle East Economic Digest's) latest forecast is that new contract awards in the GCC will approach $150bn in the year ending 2014 compared with about $135bn in the previous 12 months. The project boom encompasses all six markets and extends across all sectors. Confidence is being further lifted by the irresistible rise in project spending in Iraq where oil production last year reached an all-time high of more than 3m b/d. At least $20bn of new contracts are expected to be placed in Iraq by the end of 2014 in a capital investment program that will establish the country as one of the most exciting prospects in the world for the local, regional and global construction industry. Figures compiled by MEED Projects show that a total of almost $2.5 TRILLION worth of contracts are planned or under way in the GCC. A further $500bn worth of projects are at a similar stage in Iraq. For the MENA region as a whole, more than $4 TRILLION worth of projects are planned or under way. This vast, varied and challenging opportunity will be comprehensively reviewed in MEEDs annual Arabian World Construction Summit (AWCS) which opens in the Sofitel Hotel on Palm Jumeirah on 12 May. More than 60 speakers representing all high-growth Middle East construction markets and the regions largest project sectors will address the event. Among the highlights of the summit includes a keynote session on developing Solution-based Delivery Strategies for the Regions Complex Construction Projects. Dr. Faysal Alaquil, Director, Department of Business Development & CSR, Construction Products Holding Company (CPC) of Saudi Arabia, a Strategic Partner of the event, says the complexity of the Mega Projects either underway or in the pipeline requires contractors to design and execute to the highest quality standards available. We will share a number of building solutions that will help transform these projects from powered by TOP MEGA PROJECT LINKS: 23 Marina 360 Kuwait ABG Tower ADIC Headquarters Ajmakan Al Barari Al Bateen Wharf Al Bidda Tower Al Falah Al Fattan Marina Towers Al Hamra Tower Al Hitmi Commercial And Residential Development Al Mada Towers Al Manhal Al Marasy Development Al Marina Al Mas Tower Al Murooj Complex Al Nawras Al Raha Beach Al Sorour Tower Al Tijaria Tower ALDAR Headquarters Amaya Towers Amwaj Islands Arabian Ranches Argan Business Park Arraya Center Arraya Tower II Arzanah Aspire Tower Doha Aspire Zone Atlantis The Palm Bahrain Bay Page 5 UAE MEGA PROJECTS 13-May-14 2:59:23 PM http://uaemegaprojects.blogspot.ae/ concept and design to physical realities that are not only of the highest technical standards, but conform to sustainable and environmental practices. Across the region, there is a greater need for social and housing capacity. In the past six years, according data collated by MEED Projects, residential projects comprised 29 percent of total construction projects awarded during the period, followed by mixed use projects at 18 percent. With real estate opportunities back to pre-bust days, meeting the growing demand for private residential and social housing developments will be of paramount importance. Imad Ghantous, Managing Director-Property, Hyder Consulting Middle East, says rapid population growth will be a key driver of this continued growth in the construction sector, with a particular focus on residential and social infrastructure projects. Experts currently estimate that the regions population is expected to grow to more than 600 million by 2030, from around 340 million today. Saudi Arabia, the Middle Easts biggest project market which is expected to witness more than $70bn of projects awarded in 2014, will once again be at the heart of the conference. Speakers will review the trends in the Kingdoms construction industry and evaluate the opportunities in energy, water, rail, port and real estate markets. Special attention will be paid to the remarkable King Abdullah Economic City (KAEC) in Rabigh where one of the worlds largest new ports started operations earlier this year, and progress on the Jeddah Kingdom Tower, the worlds tallest building, and the supporting development. A special presentation will be delivered by the General Authority of Civil Aviation (GACA), the largest new airport client in the Middle East. The UAE will get special attention as investment in the federation starts in the race to the opening of the World Expo in Dubai. More than $100bn worth of new projects are on the agenda for the Emirate which expects 25m people to visit the six-month expo. The conference will review some of the largest real estate developments in Dubai including exciting projects being developed by Meraas Holdings. Other markets to be reviewed will include Oman, Bahrain, Iraq and Egypt where 40 Mega Projects worth more than $500m are planned or under way. The challenge of delivering complex, multi-component Mega Projects will be one of the key themes of AWCS 2014. Regional and global experts in Mega Project delivery and the role high-level program management can play in bringing Mega Projects in on time and budget will be among the primary topics of the event. The AWCS was launched in 2007 and is established as the premier annual event for major clients and senior construction industry executives working in the Middle East Mega Project market, says MEED Events Chairman Edmund OSullivan. This year, the delegates will learn about the widest range of new projects and construction opportunities since the first AWCS opened seven years ago. Im confident they will leave inspired to intensify their efforts across the region. As the premier construction event in the region, AWCS has been able to enlist the support of CPC and HSBC as Strategic Event Sponsors; Hyder Consulting and Six Construct as Gold Sponsors; Projacs, AGIS and Mashreq as Silver Sponsors; Drake & Scull, Hill International, Bahrain Financial Harbour Bahrain World Trade Center Barwa Financial District Bawabat Al Sharq Bay Central Bay Square Bayan Palace Bayswater Beirut Waterfront Blue Bay Tower Boulevard Plaza Burj Al Arab Burj Khalifa Burj Qatar Burj Rafal Business Bay Dubai Capital Centre Capital Gate Tower Cayan Tower Central Market Abu Dhabi City Of Arabia Citystars D1 Tower Diyar Al Muharraq Doha Festival City Dubai Industrial City Dubai International Financial Centre Dubai Investment Park Dubai Lagoon Dubai Mall Dubai Marina Dubai Maritime City Dubai Motor City Dubai Pearl Dubai Silicon Oasis Dubai Sports City Dubai World Central DuBiotech Durrat Al Bahrain Durrat Al Fintas Elite Residence Emerald Palace Emirates Financial Towers Emirates Palace Escan Marina Tower Etihad Towers Executive Towers Fairmont The Palm Page 6 UAE MEGA PROJECTS 13-May-14 2:59:23 PM http://uaemegaprojects.blogspot.ae/ Posted by Brett Siegel at 10:57 AM Zurich and AKSA as Conference Sponsors; Deloitte as Knowledge Partner and EC Harris as Lunch Sponsor. No comments: M ON D A Y , M A R C H 2 4 , 2 0 1 4 Oman Comes On Strong With New Salalah Rotana Resort The five-star Salalah Rotana Resort is now officially opened in the capital of the southern Omani province of Dhofar. The stunning 400 room waterfront resort, part of the companys steadily expanding Rotana Resorts, is the Sultantes largest free-standing hotel in Oman. We pride ourselves in identifying desirable travel destinations and are excited to begin a new journey today at the first hotel to be operated by Rotana in Oman. Not only does it take us one step closer to reaching our ultimate vision but it has strengthened the companys standing as the leading hotel management company in the region, stated Omer Kaddouri, President & CEO of Rotana. Set on the pristine Arabian coast only a stones throw from the famous Salalah Beach, each of the resorts luxury rooms and suites are positioned directly on unique lagoons or nestled around water features and an elaborate network of man made waterways which connect the property to the Indian Ocean and which are filled with 105,000m2 of seawater refreshed every four days using natural tidal patterns. Salalah Rotana Resort sits at one with nature, and has been designed to offer guests a distinctive sense of calm. Drawing inspiration from the landscapes natural beauty and culture, the heart of the hotel boasts high ceilings and a central internally-lit handmade red clay dome complementing the wooden finishing and decorative mashrabiya latticework windows. The in-room furnishings have been carved from desert rock while Arabesque geometric designs and stone archways, constructed using traditional techniques, resemble a cathedral atrium. Ranging from 43 sq meters to 143 sq meters, Salalah Rotana Resort boasts some of the most spacious accommodations in Oman. Private terraces or balconies, ensuite bathrooms and generous living areas in each room and suite allows for optimal privacy and superior comfort in a grand setting. The perfect destination for every type of traveller, the resorts wide variety of dining options range from casual beachside cuisine and all-day-dining to fine dining Middle Eastern and Western fare. Guests looking to rejuvenate and rebalance the body can make use of the Bodylines leisure and fitness club and impressive outdoor pool or indulge in spa treatments at Zen the spa, Rotanas home-grown spa concept derived from ancient holistic Asian philosophies, which includes eight single-sex only treatment rooms and blends natural Omani elements with holistic treatments and rituals including full body massages, facials and soothing wraps. Business visitors will benefit from a superb range of meeting rooms and a state of the art Business Center in addition to an array of business and leisure facilities. Whether socializing at The Beach Bar & Restaurant, relaxing by the poolside or spending time with children in the sophisticated playful Kids Club, Salalah Rotana Resort exceeds the expectations of the Ferrari World Abu Dhabi Goldcrest Golden Mile Palm Jumeirah Grosvenor House & Residence Hajar Tower HHHR Tower Ibn Battuta Gate Jazan Economic City Jeddah Gate Jewel Of The Creek Jubail City Jumeirah Lakes Towers JW Marriott Marquis Dubai KBT Towers Khalifa Industrial Zone King Abdullah Economic City King Abdullah Financial District King Road Tower Jeddah Kingdom Centre Kingdom Of Sheba Kingdom Tower Kuwait Oil Sector Complex La Hoya Bay Lamar Towers Lusail City Madinat Al Fahaheel Madinaty Makkah Clock Royal Tower Marina 101 Marina Mall Kuwait Marina Pinnacle Marina Square Reem Island Marina West Marina Wharf Marina World Marsa Plaza Massaleh Towers Maysan Towers Mazaya Business Avenue Maze Tower Meena 7 Towers Meydan City Mina Al Arab Mirdif City Centre Mohammed Bin Rashid Gardens Musheireb Nation Towers Nurai Island O-14 Tower Page 7 UAE MEGA PROJECTS 13-May-14 2:59:23 PM http://uaemegaprojects.blogspot.ae/ Posted by Brett Siegel at 10:12 AM most discerning guest. ++ I am glad to see Oman developing their own kind of Mega Projects that fit perfectly with the overall environment of the Sultanate. Here is a link to the Salalah Rotana Resort site: http://www.rotana.com/rotanahotelandresorts/oman/salalah/ salalahrotanaresort No comments: T HUR S D A Y , M A R C H 2 0 , 2 0 1 4 Qatar Registers Second Highest Growth Rate In GCC Projects Market Qatars projects market grew 26 percent last year, the second highest growth rate in the GCC, where project awards increased overall by 21 percent between 2012 and 2013, the first growth year since 2009. The data was presented in a breakfast briefing at the Qatar Projects Conference, where a MEED Insight report detailed a comprehensive review of the GCC projects market from 2008-2013. The report said 2008 was a landmark year for Qatar, when over $22bn worth of projects were awarded predominantly by the construction and power sectors for megaprojects such as Ras Girtas Power & Water, Kharamaa Transmission Phase VIII, Barwa City Development and the Lusail Development. Fast forward to 2013, Qatar maintains its momentum, awarding as much as $20bn on projects such as Qrails Doha Metro Red and Green Lines and several stations, which account for 41 percent of all projects awarded in the country. Overall, during the period in review from 2008-2013, Qatars project market accounted for 12 percent ($96bn) of the total projects awarded in the GCC, for a massive outlay of an average of $16bn a year. MEED Insight expects a robust 2014, with project awards estimated to range between $140-150bn. The outlook is also positive over the long-term, as GCC economies continue to grow and as the population explodes requiring further investments in infrastructure. Challenges will most likely come from stiffer competition as contractors from Asia move to gain a bigger share of the market; and financing will play a factor in ensuring projects are not delayed. Meanwhile, Elie Andraos, General Manager of Al Maysan, says the steady growth of the projects market is a great opportunity for heavy equipment and machinery suppliers. Our participation in MEEDs Qatar Projects Conference 2014 is due to its importance in attracting local and international contractors. This conference is considered as a unique opportunity to display SANYs heavy equipment and its proven reliability and quality in major construction projects in the GCC region. We are delighted to have participated, as it falls in line with Qatars 2030 vision in all aspects, particularly economic and construction, he added. Qatar Projects Conference concluded successfully, with optimism high among project stakeholders about the continued expansion of the projects market in Qatar. This years conference was supported by Samsung as the Official Technology Partner, Qatar Steel as Ocean Heights Olaya Tower One Business Bay One&Only The Palm Orra Marina Pacific Palace Towers Palazzo Versace Dubai Palm Jumeirah Park Towers Princess Tower Qatar Entertainment City Qatar Financial Centre Qatar Science And Technology Park Regal Tower Remraam Riffa Views Rolex Tower Rose Rayhaan Royal Amwaj Royal Oceanic Saadiyat Island Sabhan Industrial Project Salhia Complex Sama Beirut Sama Tower Shams Abu Dhabi Shams ArRiyadh Sharq Village And Spa Shatha Tower Silver Tower Silverene Towers Sorbonne Abu Dhabi Sowwah Island Sowwah Square Stargate Park Sulafa Tower Sun And Sky Towers Taj Exotica Tameer Towers The Address The Citadel The Gate Qatar The Headquarters Business Park The Index The Onyx The Opus The Pearl Qatar Page 8 UAE MEGA PROJECTS 13-May-14 2:59:23 PM http://uaemegaprojects.blogspot.ae/ Posted by Brett Siegel at 10:00 AM Associate Partner, Mashreq and Global Building Solutions as Silver Sponsors, Parsons, Al Maysan and Larsen & Toubro as Bronze Sponsors. Other corporate partners include Ibq (Gala Dinner Sponsor), Qatar Insurance Group (Lunch Sponsor), SEIB (Dedicated Partner and Breakfast Sponsor), PWC (as Reception Sponsor), HSBC (Masterclass Sponsor), Drake & Scull, ECG Engineering Consultants Group SA, Zurich Insurance and Hill International as Conference sponsors; and Shapoorji Pallonji as the Networking Sponsor. Exhibiting companies include Al Jaber Engineering, ASTAD Project Management, International Aramoon Co Ltd as well as Salfo and Associates SA. No comments: WE D N E S D A Y, M A R C H 1 2 , 2 0 1 4 Marjan Island Resort & Spa Opens in Ras Al Khaimah Located on a private island off the coast of Ras Al Khaimah, Marjan Island Resort and Spa opened its doors to the public this month. Offering spacious and sumptuously decorated accommodations, the resort boasts a total of 302 rooms and suites with large balconies from which guests can view idyllic island sunsets with the warm waters of the Arabian Gulf right on the doorstep. All rooms and suites, designed in palatial grandeur and thoughtfully decorated with Arabian touches, feature exclusive amenities and advanced interactive multimedia systems. Marjan Island Resort and Spa prides itself on being a true family destination with a superb range of facilities and activities for even the very youngest of guests, including an indoor-outdoor playground, Pirates Club, Youngsters Entertainment Fun Center, dedicated childrens swimming pool and a host of watersports on the islands two pristine beaches. Visitors will discover a variety of delectable dining outlets on the resorts 1-km seafront boardwalk. Relaxation and wellbeing are essential elements of the resorts vision, with an entire floor dedicated to the LaMar Holistic Wellness Spa which houses separate ladies and gentlemens treatment rooms, Hamams, steam rooms, saunas, Jacuzzis, gyms and an indoor swimming pool. Guests can book an appointment with a nutritionist or a cosmetic specialist, which forms part of the resorts extensive wellbeing facility. For business there is no need to leave the resort. With a 250-person ballroom, fully serviced business center as well as a boardroom and various breakout rooms, executives and decision-makers will have everything they need to get the job done. Ive been in the hotel business for over 30 years, and you dont get opportunities like this very often, to work in a destination as beautiful and rewarding as Marjan Island - Ras Al Khaimah, managing a property as amazing as Marjan Island Resort and Spa, said Roger Tannous - General Manager, a Lebanese national who is also fluent in English and French and Arabic. I am thrilled to be working with Marjan Island Resort and Spas management and owners. This resort is a one-of-a-kind, offering families a complete immersion in an authentic, intimate Arabian experience soaking up the culture, hospitality, tranquility and stunning surroundings, and that remains truer today than ever before. The Prism The Regent Emirates Pearl The Torch Tiara Residences Tornado Tower United Tower Villamar West Bay Complex Doha YAS Island Zabeel Saray MEGA PROJECT DEVELOPER LINKS: Aabar Properties Aayan Real Estate Abaad Abniah Abyaar ACI Real Estate Ajial Real Estate Al Akaria/Saudi Real Estate Company Al Arabiya Al Areen Al Derea Al Enmaa Real Estate Al Fara'a Al Fattan Al Habtoor Al Hitmi Property Development Al Jazi Real Estate Al Madina Al Mazaya Al Mudon International Al Oula Holding Al Qudra Al Saraya Al Sayyah & Sons Al Themer International Holding Al Tijaria Al-Futtaim Group Alargan International Real Estate ALDAR Alfardan Properties Aqar Arkan Al Kuwait Real Estate Arriyadh Development Baniyas BARWA Bin Hamoodah Properties Page 9 UAE MEGA PROJECTS 13-May-14 2:59:23 PM http://uaemegaprojects.blogspot.ae/ Posted by Brett Siegel at 9:44 AM We already have such an incredible property, the type of place where you can spend a week and not go out at all, just soaking up the cultural experience and one of the regions biggest spas, fine restaurants and lavish guest rooms, said Khalid Motik EAM Marjan Island Resort & Spa. We are confident that now is the time to bring Marjan Island Resort and Spa Ras Al Khaimah to the world. We have listened carefully to what our customers are looking for and we have taken the necessary time to ensure the product offering is just right. It has been meticulously planned and we are extremely happy with the result. Mr. Motik further added. ++ Marjan Island Resort and Spa is owned by Manazil Real Estate Group of Sharjah and managed by InnovationZ Hospitality Group, specialists in resort operations, and is located on a private island off the coast of Ras Al Khaimah in the United Arab Emirates. They have done a great job with the development of this Mega Project! Here is a link to their website: http://www.marjanislandresort.com/ No comments: S UN D A Y , J A N UA R Y 1 9 , 2 0 1 4 Completed GCC Construction Projects Up 27 Percent In Value For 2013 ++ Total value of completed projects reached US$69.91bn ++ Residential (US$30.3bn), Commercial (US$12.7bn) and Education (US$7.01bn) were the leading sectors ++ GCC Interior Contracting and Fit-out Market also increased by 8 percent ++ A further 17 percent and 18 percent increase forecasted in 2014 for the Construction and Interiors Markets respectively Construction projects across all building sectors worth US$69.91bn were completed in the GCC in 2013 according to a study conducted by Ventures ME and commissioned by DMG Events. The research also looks into 2014 and estimates projects for US$83.41bn (+17.43%) to be completed and US$82.2bn to be awarded across the year. US$ 7.81bn is the value of the related 2013 GCC Interior Contracting and Fit-out Market that registered an 8 percent increase compared to 2012 and is expected to increase by another 18 percent this year. This is the third consecutive year that DMG Events, the company behind INDEX - the leading MENA Design exhibition and workspace at INDEX, has invested in the study, contributing to the global industry with useful regional market insights. Overview of 2013 GCC Building Construction Projects: With residential (43.3%), commercial (18.2%) and educational (10%) segments leading the way, 2013 has been a positive year for the construction market. US$69.91bn worth of projects were completed with a further US$71bn worth of projects awarded. Hospitality, medical and retail buildings were also completed with total values of US$4.6bn, US$2.4bn and US$1.8bn respectively. KSA and the UAE rank in the top two positions for all sectors with the Bonyan Group Burooj Capitala Cayan Credo Investments DAMAC Properties Dar Al-Arkan Dar Qatar DEC Deyaar Dhafir Development Dubai World Emaar Enshaa Real Estate Development Era Projects Escan Development Eshraq Real Estate ETA Star Ezdan Real Estate First Bahrain First Dubai Real Estate Development First Qatar Fortune Group Gulf Holding HAR Properties Hydra Properties Injaz Development Inovest Investors Holding Group Iris Ishraqah Jabal Omar Development Khoie Properties Kingdom Holding Kuwait Business Town Real Estate Kuwait Remal Real Estate Limitless Mabanee Mada'in Properties Madeed Properties Makkah Construction And Development Manara Developments Massaleh Real Estate Massar International Memon Meraas Development Page 10 UAE MEGA PROJECTS 13-May-14 2:59:23 PM http://uaemegaprojects.blogspot.ae/ Posted by Brett Siegel at 9:28 AM exception of education and healthcare for which Qatar ranks top with completed projects worth US$4.6bn in the educational segment (KSA: US$1.01bn; UAE: US$714m) and worth US$1.12bn in the healthcare segment (KSA US$482m; UAE US$570m). Overview of 2013 GCC Interior Contracting and Fit-out Market: The value of the GCC Interior Contracting and Fit-out Market in 2013 was US$7.81bn an increase of 8 percent when compared to 2012. KSA was the largest market with a 47.4 percent share (US$3.7bn) followed by the UAE and Qatar valued at US$2.39bn and US$953m respectively. The residential sector accounted for almost half of the overall 2013 market with a market share of 42.6 percent (US$3.33bn) . The commercial sector followed with a 17.9 percent share corresponding to a value of US$1.40bn and the hospitality sector with 13.4 percent share and a value of US$1.05bn. 2014 Forecast: According to the Ventures ME study, figures for 2014 are expected to increase further for both the building construction and interiors markets. US$83.41bn worth of completed projects and US$82.8bn worth of awarded projects are forecasted over the next 12 months; the interiors market is also likely to grow by 18 percent and reach an estimated value of US$9.2bn by the end of the year. Building Construction Market 2014 Forecast: The Healthcare Sector is expected to grow by 250 percent from a value of US$2.4bn registered in 2013, to an estimated value of US$ 8.4bn. The UAE in particular will be the country with the majority of healthcare buildings completed worth a total value of US$3.19bn - almost five times the value registered in 2013 - followed by KSA with US$3.09bn and Qatar US$1.7bn. Kuwait is also worth highlighting with the value of projects completed moving from US$47m in 2013 to an estimated US$317m in 2014. Despite the huge increase in the Healthcare Sector, the building construction market will still be led by the residential and commercial sectors that together will account for over half of the market share concentrated particularly in KSA, the UAE and Qatar. Interior Fit-out Market 2014 Forecast: Out of an overall estimated market value of US$9.2bn, the Residential Sector will account for 35.9 percent and US$3.33bn in value, followed by the Hospitality Sector at 19.8 percent and US$ 1.82bn of value and the Commercial Sector with 15.7 percent and US $ 1.44bn in value. When compared to 2013 figures, the Healthcare Sector will see the biggest growth with a huge 256 percent increase and reaching a value of US$672m. The Retail Interiors Market is expected to see the biggest drop in value from US$393m to US$308m. Commenting on the figures released by Ventures ME, Frederique Maurell, Group Event Director for INDEX and workspace at INDEX, said: Most segments of the GCC Building Construction market have recovered significantly from the downturn and 2013 has been positive with residential, education and hospitality segments in particular showing signs of growth and a strong recovery. No comments: S UN D A Y , D E C E M B E R 2 9 , 2 0 1 3 Msheireb Properties Nakheel Naseej Properties NREC Kuwait Omniyat Properties Omran Misr Pearl Of Kuwait Real Estate Qatari Diar RAFAL Real Estate Company RAK Properties Rayadah Investment Company REDICO Saudi Arabia Reem Investments Saba-RE Salhia Saudi Oger Real Estate Development Schon Properties Seef Properties Select Group SNASCO Real Estate Solidere Sorouh Taiba Holding Tamdeen Group Tameer Tamouh Tanmiya Realty Development Tatweer TDIC The Land Saudi Arabia Real Estate Development & Investment Company Tijara And Real Estate Investment Union Properties United Development Company United Real Estate Company Yousef Ahmed Al-Gosaibi Real Estate Zaya MEGA PROJECT ARCHITECT LINKS: A-Cero Architects ADPI Aedas ARENCO Atkins Design BDP Benoy Page 11 UAE MEGA PROJECTS 13-May-14 2:59:23 PM http://uaemegaprojects.blogspot.ae/ New Hazaa Bin Zayed Mega Project For Al Ain Major details of the massive mixed use Hazaa Bin Zayed Stadium project in Al Ain have been announced today including a hotel, residential and commercial buildings, a sports center, and food and retail outlets. Once complete, the project will be the main attraction for hundreds of community, entertainment and business events. The new development covers an area of 500,000 square meters which, in addition to the main stadium, includes a community with 700 residential units in a complex of apartments and green spaces, two office buildings of 20,000 square meters, and a chain of 50 restaurants and retail outlets plus a 172 room international hotel. The project, which will be constructed in phases, will have a public courtyard for both visitors and residents, stylish promenades linked together by a network of pedestrian walkways and a family entertainment area synonymous with a healthy and modern lifestyle. The multi-use project is part of a vision of building a touristic, social and sports destination that includes Hazaa Bin Zayed Stadium and the area surrounding it, to foster ongoing growth and development in Al Ain and the UAE. The Hazaa Bin Zayed Stadium, which will be launched mid-January 2014, is considered an architectural marvel and one of the most impressive and technologically advanced sports constructions in the UAE. It can accommodate 25,000 spectators and was built in only 17 months, measuring up to the best international standards. The development is located in the strategic Tawya area of Al Ain, which is easily accessible for visitors coming from Abu Dhabi and Dubai, and with close proximity from the citys main roads. It is only 15 minutes from Al Ain Airport, and is situated near other main attractions in Al Ain which makes it one of the most sought after destinations by families in Al Ain and the UAE in general. The Plaza area will stand as the main part of the project and the head point for all sports and social gatherings, with the Hazaa Bin Zayed Stadium in the background adding even more atmosphere to the open spaces and surrounded by a number of restaurants and retail outlets. The project will also include a healthy lifestyle area with a number of sports zones and a dedicated pool and gymnasium considered to be the biggest of its kind in Abu Dhabi. The whole project has been planned to reflect the principles of health and well-being and encourage a more sporting life. The Plaza and the area surrounding the stadium are designed to help walking as no cars are allowed inside. The outer area of the project includes cycling, jogging and walking tracks. The family entertainment area provides its visitors with a wide selection of entertainment facilities that suit different age groups and several sports activities to help residents and tourists enjoy their time in a healthy and stylish atmosphere throughout the year. The restaurant and caf area is located near the hotel, linked together with a pedestrian design that provides access to as many of the developments destinations as possible and provides a location for a variety of high-end restaurants and coffee shops. The new stadium will be officially opened in January 2014. The celebrations will include a 3 day family festival from January 16-18, Broadway Malyan Burt Hill Callison Denton Corker Marshall Dewan Architects and Engineers DP Architects Foster+Partners FX Fowle Architects Gensler Godwin Austin Johnson Hadi Simaan HGBD HKS KEO International Khatib & Alami Kling Consult LAVA Nikken Sekkei NORR P&T Architects and Engineers PRP/AI Architects RMJM RTKL RUR Architecture Sanjay Puri Architects Schweger+Partner Sheppard Robson Skidmore Owings & Merrill Snohetta Sohne & Partner SSH International Sybarite Architects Woods Bagot Zaha Hadid Architects MEGA PROJECT BUILDER LINKS: Al Arrab Trading & Contracting Al Futtaim Engineering Al Hamad Group Al Harbi Trading & Contracting Al Latifia Trading & Contracting Al Mabani General Contractors Al Naboodah Al Rashid Trading & Contracting Al Shafar General Contracting Arabian Construction Company Arabtec BAM International Bechtel Page 12 UAE MEGA PROJECTS 13-May-14 2:59:23 PM http://uaemegaprojects.blogspot.ae/ Posted by Brett Siegel at 9:22 AM plus other events for launching the stadium. The 25,000 capacity Hazza Bin Zayed stadium will officially be the new home for Al Ain Football Clubs first team, and is intended to boost the sports activities in the UAE. The stadium covers an area of 45,000 square meters and it is 50 meters high which makes it one of the highest buildings in Al Ain City. It hosts more than 3,000 premium seats, one of the highest ratios of premium seating in the world for football stadiums. The mobile roof can move to cover the whole play field during the hotter months. The marvelous design of the outer faade of the stadium is inspired by the trunk of the palm tree which is an integral part of the UAEs heritage and legacy. No comments: S UN D A Y , D E C E M B E R 1 5 , 2 0 1 3 The Billionaires - World's Richest Arabs 2013 Here is a list compiled by ArabianBusiness.com of the World's Richest Arabs for 2013. I think you will enjoy reading it. These are the wealthiest Arabs in the world and most of them are involved in one way or another with the Mega Projects going up in the MENA Region. As you will see Saudi Arabia is by far the leader in Arab Billionaires. For some reason, aside from Prince Alwaleed of KSA, the list does not include any other Arab Royals. Perhaps this is because their net worth is harder to estimate. WORLD'S RICHEST ARABS 2013 1. Prince Alwaleed bin Talal Al Saud, KSA, $31.2 Bil 2. Mohamed Al Jaber, KSA, $12.66 Bil 3. Olayan Family, KSA, $12.5 Bil 4. Mohammed Al Amoudi, KSA, $12 Bil 5. Issam Al Zahid, KSA, $11.6 Bil 6. Sawiris Family, Egypt, $11.2 Bil 7. Kharafi Family, Kuwait, $8.6 Bil 8. Binladin Family, KSA, $8.1 Bil 9. Joesph Safra, Brazil/Lebanon, $7.5 Bil 10. Said Khoury, Palestine, $7.2 Bil 11. Bukhamseen Family, Kuwait, $6.8 Bil 12. Al Ghurair Family, UAE, $6.3 Bil 13. Kanoo Family, Bahrain, $6.1 Bil 14. Majid Al Futtaim, UAE, $6.1 Bil 15. Tareq Al Qahtani, KSA, $6 Bil 16. Bugshan Family, KSA, $6 Bil 17. Toufic Aboukhater, Palestine, $5.8 Bil 18. Mansour Family, Egypt, $5.1 Bil BESIX Group Consolidated Contractors Company DCC Group Dutco Group El Seif Engineering & Contracting ETA Ascon Freyssinet Saudi Arabia Galfar General Construction Company Gulf Colba (land reclamation) Habtoor Leighton Group Huta Group Nass Group Oger International Samsung Engineering Saudi Constructioneers TAV Construction Turner Construction Middle East United Arab Construction Company Van Oord (land reclamation) CITYSCAPE EVENT LINKS: Cityscape Global Cityscape Abu Dhabi Cityscape Riyadh Cityscape Jeddah Cityscape Qatar Cityscape Egypt SOVEREIGN WEALTH FUND LINKS: Abu Dhabi Investment Authority Abu Dhabi Investment Council Dubai World Emirates Investment Authority Investment Corporation Of Dubai Kuwait Investment Authority Mubadala Development Company Mumtalakat Holding Company Oman Investment Corporation Public Investment Fund Saudi Arabia Qatar Investment Authority RAK Investment Authority Saudi Arabian Monetary Agency REAL ESTATE NEWS: LATEST REAL ESTATE NEWS UPDATED CONTINUOUSLY: AME Info | Real Estate: Page 13 UAE MEGA PROJECTS 13-May-14 2:59:23 PM http://uaemegaprojects.blogspot.ae/ 19. Mohamed Abdul Latif Jameel, KSA, $5 Bil 20. Abdullah Al Rushaid, KSA, $4.6 Bil 21. Mubarak Al Suweiket, KSA, $4.5 Bil 22. Al Rajhi Family, KSA, $4.3 Bil 23. Gargash Family, UAE, $3.7 Bil 24. Adel Aujan, KSA, $3.56 Bil 25. Taha Mikati, Lebanon, $3.5 Bil 26. Mohammad Jamjoom, KSA, $3.4 Bil 27. Najib Mikati, Lebanon, $3.4 Bil 28. Alghanim Family, Kuwait, $3.4 Bil 29. Saad Hariri, Lebanon, $3.3 Bil 30. Sulaiman Al Muhaidib, KSA, $3.3 Bil 31. Abdulatif Al Fozan, KSA, $3.25 Bil 32. Hayek Family, Lebanon/Switzerland, $3.2 Bil 33. Bahaa Hariri, KSA, $3.1 Bil 34. Munib Masri, Palestine, $3 Bil 35. Zamil Family, KSA, $2.9 Bil 36. Mansour Ojjeh, KSA, $2.8 Bil 37. Mohammed Elkhereiji, KSA, $2.73 Bil 38. Ayman Asfari, UK/Syria, $2.7 Bil 39. Mohammed Sharbatly, KSA, $2.69 Bil 40. Osama Abu Dawood, KSA, $2.68 Bil 41. Wafic Said, UK/Syria, $2.6 Bil 42. Mohammed Al Barwani, Oman, $2.6 Bil 43. Ziad Manasir, Joedan, $2.58 Bil 44. Mohammed Al Issa, KSA, $2.38 Bil 45. Nadhmi Auchi, UK/Iraq, $2.2 Bil 46. Mohammed Ibrahim, Sudan, $2.15 Bil 47. Miloud Chaabi, Morocco, $2.1 Bil 48. Saleh Kamel, KSA, $2 Bil 49. Fawaz Al Hokair, KSA, $1.98 Bil 50. Ayman Hariri, KSA, $1.95 Bil Driven Properties appointed as exclusive agent for St. George developments Sovereign Court project in London New dusit.com website launches IHCC marks participation at Arabian World Construction Summit 2014 IHCC marks participation at Arabian World Construction Summit 2014 DSIs quarterly net profits down 27% Construction Week- News: Wessal Capital to invest $2.4bn in Morocco Five more airlines transfer to new Qatar airport Atkins-designed boutique hotel opens in Oman Dubai's Drake & Scull wins $ 600mn Egyptian deal Plans for Dubai to become open air gallery Arabian Business- Real Estate: Revealed: Moving trends in the UAE Developer Damac's Q1 net profit soars 79% From Chess City to Smurf Village and flower towers: The Gulf's craziest projects UAE's Aldar Q1 net triples on handovers and sales Dubai's Remraam add 200 new units for sale Trade Arabia- Real Estate: Abu Dhabi, Goodman set up $1bn Japan JV Egypt real estate portal in Saudi foray Rent hikes hit small businesses in Bahrain Cluttons opens new Abu Dhabi office UAE property rates up 10-15pc: Tamweel AME Info | Property Report: OMRAN drives new tourism projects in Oman Abu Dhabi real estate could see small growth in 2013 Broader based recovery expected for Dubai real estate Page 14 UAE MEGA PROJECTS 13-May-14 2:59:23 PM http://uaemegaprojects.blogspot.ae/ Posted by Brett Siegel at 10:06 AM Source: http://www.arabianbusiness.com/the-world-s-richest- arabs-530591.html No comments: T UE S D A Y , D E C E M B E R 1 0 , 2 0 1 3 Abu Dhabi To Spend $100 Billion On Projects! Abu Dhabis project spending could balloon to over $100 billion in the next seven years as the government ramps up efforts to sustain economic gains built over the last few years. The 8th Abu Dhabi Conference 2013, which began yesterday, highlighted the key sectors that will receive the bulk of investments until 2020. According to MEED, which tracks projects activity throughout the Middle East, construction projects remain the most active with $30 billion worth of projects to be awarded in the next seven years, followed by the Oil & Gas sector with a project pipeline valued at $ 25 billion. Transport and chemical-related projects will also see a surge in investments with a total of $20 billion contracts to be awarded during the same period. The industrial as well as power & water sectors will likewise be busy with contracts valued at $6 billion and $5 billion to be awarded until 2020. H.E. Eng. Mohammed Ahmed Bin Abdul Aziz Al Shehhi, Undersecretary of the Ministry of Economy delivered the opening address this morning, and said that the UAE economy is growing strongly and will benefit from new government measures designed to promote the private sector and foreign investment. The UAE economy is on solid ground. It has been attracting visitors and investors looking for a safe haven in the Middle East. Growth was 4.4 percent in 2012, its fastest pace since 2006. In view of improved activities, we expect UAE GDP to have expanded by 4.5 percent this year. Abu Dhabi Department of Economic Development (ADDED) Undersecretary H.E. Mohammed Omar Abdullah then spoke to the conference delegates about creating a business hub critical to the global economy, highlighting the initiatives and upcoming projects aimed at driving long term investments into Abu Dhabi. And for the first time at a conference H.E. Dr. Abdullah Hassan Ghareeb Al Bloushi, Executive Director, Land and Property Management Sector, Department of Municipal Affairs presented details of the Onwani project the unified addressing and wayfinding project for the Emirate of Abu Dhabi, saying This is the largest project the municipal system in Abu Dhabi has ever undertaken, and it is also one of the Emirates most important. The vital infrastructure provided by the new addressing system will take us forward to meet future economic and social challenges and bring real benefits to residents, businesses and visitors alike. It is not only a street map for the Emirate, but a road for development. This year alone, based on an article 'Gulf projects market hits new peak' recently released by MEED, the construction sector in Abu Dhabi picked up pace when the Tourism Development & Investment Company (TDIC) awarded the long-awaited $653m contract to build Abu Dhabi property market to benefit from key projects Cityscape Global indicates a revival in market Arabian Business- Property: Dubai's Damac raises $348m in London share sale REVEALED: The UAE's most iconic projects Dubai may not see Expo benefits until 2015 - analyst Dubai Expo 2020 loss could hit property market Dubai's Damac delays pricing of London IPO by four days AME Info | Real Estate Roundup: Knauf Insulation showcases HVAC and building insulation with patented ECOSE technology at Project Qatar Driven Properties appointed as exclusive agent for St. George developments Sovereign Court project in London New dusit.com website launches IHCC marks participation at Arabian World Construction Summit 2014 IHCC marks participation at Arabian World Construction Summit 2014 Trade Arabia- Construction: $1.68 TRILLION: Gulf construction sector grows New Egypt-Sudan road to open on Sept 20 Qatar to build giant rotating structure Saudi signs masterplan contracts for ports Bahrain to open 5 new parks by year-end Arabian Business- Construction: From Chess City to Smurf Village and flower towers: The Gulf's craziest projects From Chess City to Smurf Village: The Gulf's craziest projects Jeddah firm in talks to raise $ 3.73bn Kingdom City funds UAE refinery expansion to be commissioned by year-end Page 15 UAE MEGA PROJECTS 13-May-14 2:59:23 PM http://uaemegaprojects.blogspot.ae/ Posted by Brett Siegel at 11:08 AM the Louvre Museum on Saadiyat Island to a consortium comprising the local Arabtec Construction, Spains San Jose and Oger Abu Dhabi the local affiliate of Saudi Oger. TDIC has also tendered the contract to build the Zayed National Museum on Saadiyat Island, although an award is not expected this year. In July, Abu Dhabi-based Saadiyat Investment & Development Company awarded a $482m contract to local Al-Jaber Building for the construction of 462 villas at the Hidd al-Saadiyat Villas Development on the island. As a result, along with new projects awarded in Dubai, the UAE has seen the largest rise in project activity in the GCC this year. MEEDs Gulf Projects Index is now at its highest level ever, having reached $ 3.19 trillion this month. The return to growth is the latest chapter in what has been a roller coaster ride for the index over the past seven years. The index remained relatively flat until about 12 months ago, when it began to move upwards as stalled projects were revived and new schemes launched, which has seen it grow more than 30 percent to its current level of $3.19 trillion. The major driver of this growth has been the UAE, with Abu Dhabi contributing a significant chunk of investments, said Richard Thompson, Editor, MEED. By 2014, the IMF has forecasted real GDP growth for the UAE of 3.6 percent (up from 3.1 percent last year) owing to the governments continued push to boost the economy led by a spate of new infrastructure investments. Abu Dhabi has targeted knowledge-intensive sectors, such as aviation, petrochemicals, renewable energy and health care. The developments across these strategic sectors are aimed to make the capital an attractive proposition for domestic and international investors, said Abraham Akkawi, MENA Infrastructure Advisory Services Leader, Ernst & Young. Yesterdays highlights included a special VIP Plenary Session that provided a snapshot of project opportunities, achievements and challenges faced in delivering Abu Dhabis economic vision 2030 across key sectors. The session was led by a panel of authorities from Abu Dhabis key agencies such as the Abu Dhabi Food Control Authority (ADFCA), Environment Agency- Abu Dhabi (EAD), Health Authority Abu Dhabi (HAAD), Industrial Development Bureau as well as the Khalifa Fund for Enterprise Development. The Abu Dhabi Conference is an annual gathering of government and private sector leaders which enables discussions and updates on upcoming project and investment opportunities in Abu Dhabis diverse economy. It is a heavily Government supported event, with the Abu Dhabi Department of Economic Development, Abu Dhabi Sustainability Group, Western Region Development Council and Abu Dhabi Tourism and Culture Authority as supporting partners; The Abu Dhabi Water & Electricity Authority as Strategic Partner, Zones Corp as Industrial Partner and the Abu Dhabi Chamber as silver sponsor. Other conference partners include Al Khalij Bank Hill International, E&Y, Bentley Systems and Mashreq. For more information on the conference: http://www.theabudhabiconference.com/ No comments: WE D N E S D A Y, N OVE M B E R 2 7 , 2 0 1 3 Dubai's Drake & Scull Q1 profits down 27% as Saudi projects delayed BUSINESS NEWS: LATEST BUSINESS NEWS UPDATED CONTINUOUSLY: AME Info | Finance and Economy: Ministry of Economy and US Department of Commerce express intent in forging stronger bilateral ties Second Al Gharbia Development Forum to highlight economic overview and investment opportunities in region Do expats enjoy the same retirement rights in the UAE as in their home countries? Bahrain expects non-oil sector to drive economy Oman says no decision yet on switching sponsors Financial Times- Middle East: DIC to sell Mauser for $1.7bn Abu Dhabi sees film production surge Israels Marimedia set to float on Aim Heritage Oil agrees 924m takeover offer Al Jazeera sues Cairo over crackdown Arabian Business- GCC: Kuwait set to intensify visa investigations Largest Sheikh Zayed painting completed Kuwait mulls compulsory health insurance for visitors Saudi backs clamp down on 'cover-up' businesses Qatar drinking water demand seen surging 138% by 2020 AME Info | Capital Club Dubai & Bahrain: Non-violence takes centre stage at Capital Club Dubai Capital Club hosts French- themed Chine des Rtisseurs season opener Capital Club welcomes Non- Violence Project to Dubai Page 16 UAE MEGA PROJECTS 13-May-14 2:59:23 PM http://uaemegaprojects.blogspot.ae/ Dubai Wins Bid For World Expo 2020 - New Boom For Dubai! Dubai is on the cusp of yet another development boom as it seeks to strengthen its position as the leading business and tourism hub in the region. Detailing the latest investment and development opportunities in Dubai, MEED(Middle East Economic Digest) has organized Destination Dubai 2020 to dissect, along with local and international experts, the various factors that will shape Dubais development trajectory in the next six years. Among the highlights of the conference presentations and panel discussions include the impact of Dubai winning its World Expo 2020 bid, with leading stakeholders from across Dubais key government agencies outlining their future plans in detail for the first time after securing the rights to host the expo. The total value to the economy of staging the event has been estimated at AED143.22bn. More than 277,000 jobs would be created between 2013 and 2021 as a result, with about 40 per cent in the travel and tourism sector. For every Expo employee, about 60 additional jobs would be sustained in the wider economy. MEED has organized Destination Dubai to track the exciting new developments happening in Dubai until 2020, a critical case especially in light of its winning expo bid and just a decade before the governments 2030 vision for the country. We wholeheartedly support Dubais Expo 2020 bid and look forward to working with our friends and partners in Dubai and the UAE to ensure the 2020 Expo will be the best ever," Ben Greenish, Managing Director, MEED. Dubais bid dossier estimates hosting the expo will cost $8.7bn in total $7bn in investments and operating expenses of $1.7bn. Capital expenditure will mainly cover the development of the expos planned 4.4 square-kilometer plot in Jebel Ali and connecting infrastructure such as extending the Dubai Metros Red Line. However, investors surveyed by the local chapter of CFA Institute, a global organization of investment professionals, are concerned that a successful bid by Dubai to host the expo could lead to another economic bubble. The study measured the opinions of 216 investment professionals in the UAE, and found out that more than half of the surveys respondents (55 per cent) were concerned that a successful bid for the Expo 2020 will create another economic bubble, and only a quarter believed the UAE has done enough to make its economy immune since 2008. Meanwhile, Egypt-headquartered investment bank EFG Hermes says the expo will make the countrys debt situation more pressing than it is now. If the next phase of the investment cycle, accelerated by the Expo, is not met by revenue-building measures and asset sales, this could result in total Dubai debt rising to 110-115 per cent of gross domestic product (GDP) by 2020, up from 102 per cent of GDP currently, the lender said in a report. Without a doubt, the winning expo bid will provide a massive tourism boost. It is estimated that over the six months of the event 25 million people would visit Dubai Expo 2020, with more than 70 per cent coming from outside the UAE. Destination Dubai will track the road map to Dubais continuing economic recovery, providing investors and stakeholders insights on Capital Club Bahrain hosts second debate of its 2013 series BIC Chief announces new 'Business in Formula 1' initiative at Capital Club Bahrain DEVELOPER NEWS: LATEST DEVELOPER NEWS UPDATED CONTINUOUSLY: AME Info | Emaar Properties: Emaar showcases premium lifestyle communities and The Opera District at Cityscape Global International fashion exhibitions at The Dubai Mall for 'Vogue Fashion Dubai Experience' Reel Cinemas partners with Noor Dubai on global campaign Red Sea Housing Company investing heavily in KAEC International fashion exhibitions at The Dubai Mall for 'Vogue Fashion Dubai Experience' AME Info | Nakheel Properties: Nakheel to launch nearly 400 new homes at Al Furjan on Sunday Nakheel welcomes Waitrose to Palm Jumeirah Mall New lease of life as Nakheel restores 290 homes at Jebel Ali Village Nakheel extends office hours to meet customer demand Nakheel floats tender for construction of Nakheel Mall on Palm Jumeirah AME Info | ALDAR Properties: Wing Zone opens at Aldar's Boutik Sun and Sky Aldar Properties announces 2013 second quarter and half year results Aldar and Sorouh Merger becomes effective Yas Mall to open on 26 March 2014 Aldar reports Q1 results AME Info | DAMAC Properties: DAMAC Properties launches Paramount Hotels and Resorts- branded serviced residences tower in Riyadh, KSA Page 17 UAE MEGA PROJECTS 13-May-14 2:59:23 PM http://uaemegaprojects.blogspot.ae/ Posted by Brett Siegel at 9:21 AM what is driving confidence in the Emirates equity market, which this year has seen a 60 percent rise in growing confidence in Dubais long-term prospects. Of primary importance to the readers of this blog will be a dedicated session on the real estate sector that will provide attendees key insights on one of Dubais most critical growth drivers. Real estate prices in the Emirate have risen more than 30 per cent since the start of the year on growing demand from local, regional and international investors. In addition, major private and government- related real estate projects involving billions of dollars of new investment in Dubai have been announced, opening a possible new boom phase in Dubais property market, says MEEDs editorial director Richard Thompson. Other initiatives that are transforming Dubai into an unrivaled global hub and the gateway to the high-growth emerging markets (CIS, Africa, China and India) will be comprehensively discussed at Destination Dubai, detailing the road map for the build up and creation of a genuine and holistic destination involving travel, industry, real estate, tourism, retail and hospitality infrastructure and support systems. ++ In my opinion Dubai's winning bid for World Expo 2020 is extremely POSITIVE for the real estate market in Dubai and the rest of the UAE. The best is yet to come! Scheduled to take place on January 28-29, 2014 at the JW Marriott Marquis, Destination Dubai is sponsored by Hill International. http://www.destinationdubai2020.com/homepage.asp No comments: M ON D A Y , N OVE M B E R 2 5 , 2 0 1 3 Dream-Marina 101 Moving Right Along! Dream-Marina 101 is set to open by the end of 2014. This super-tall development in Dubai Marina is a comprehensive lifestyle project conceptualized by Sheffield Holdings Ltd. Dream-Marina 101 seeks to promote a unique concept of haute living that encompasses nearly everything in terms of luxuries with world- class restaurants, roof top nightclub and recreational facilities. "We are proud to announce that nearly 80% of our hotel apartments are sold." said Abu Ali Malik Shroff, Chairman of Sheffield Holdings LTD. The hotel will house 300 guest rooms and 420 branded hotel apartments featuring one and two bedroom units. The construction on the exterior of the tower is close to completion with the elevator going up to all 101 floors. The interior finishing touches have been carefully chosen, with energy efficient light fixtures and Spanish ceramic tiles in every apartment. All internal doors are fire resistant, meeting international standards and ratings for the building. Nearly sixty million dirhams have been additionally spent on the interiors since the appointment of the hotel operator. Dream-Marina 101 has confirmed partnerships with worlds leading restaurants such as Bombay Palace, which currently has branches in England, North America, Canada and India. Another highlight of Dream-Marina 101 is its roof-top bar which will be occupied by Ph-D, known for being the nightlife state-of-the-art in Manhattan, New DAMAC Properties hits construction milestone in Solidiere DAMAC Properties hits construction milestone in Solidiere DAMAC Properties awards DAMAC Esclusiva main contract to Saudi Binladin group Damac Properties launches first golf condominiums in Dubai AME Info | Kingdom Holding: Prince Alwaleed approves Alarab channel technical infrastructure Prince Alwaleed meets with Greek Defense Minister in Athens Prince Alwaleed meets with Prime Minister Samaras of Greece in Athens Prince Alwaleed receives British delegation Prince Alwaleed receives Charge D'Affaires of Sri Lanka AME Info | Tameer: Tameer delivers Regal Tower Princess Tower commands Dubai Marina Skyline Tameer delivers Elite Residence Tameer's Al Jawzaa project ready for delivery Tameer's Princess Tower reaches final height of 414m AME Info | Dubai Properties: Arady Developments announces successful sale of all Phase-I residential units offered at Central Park sales event 'Central Park' at DIFC to feature 48-storey residential tower FIFA approved football complex brought to Dubailand DPG on target to deliver Mudon Project with competitive mortgages solutions Dubai Properties Group announces development of JBR Beach Club AME Info | Sorouh Real Estate: Sorouh announces Q1 results 2013 Sorouh Real Estate announces full year and fourth-quarter results Abu Dhabi Urban Planning Council, Sorouh Real Estate Page 18 UAE MEGA PROJECTS 13-May-14 2:59:23 PM http://uaemegaprojects.blogspot.ae/ Posted by Brett Siegel at 10:48 AM York. Shroff further added, "Dubai has and will always remain a fantastic destination for residents and tourists. We are offering a unique and hassle-free investment opportunity mirroring the growth of the Dubai real estate market. All our investors will enjoy 28 days of free stay in the hotel apartments per year, and will benefit from a guaranteed 75% return of the net profit". ++ Sheffield Holdings LTD is one of the leading Dubai-based private developers. Here is a link to their website: http://www.sheffieldholdings.com/ No comments: WE D N E S D A Y, N OVE M B E R 2 0 , 2 0 1 3 UAE's Hadara Teams Up With Egypt's Rooya Group UAE based development company, Hadra, has signed an MOU with Rooya Group, one of Egypts premier real estate developers. Hadara, which is a member of Tharaa Holding Group, has announced its plans to co-develop an upscale hospitality and residential project within Rooyas Stone Park Katameya master development in New Cairo. This project comes with recent announcements of Egypts credit rating increase by S&P, making it an attractive option for investors. The Stone Park Compound, winner of Cityscape Egypt 2013 Best Future Residential Project Award, will offer a selection of luxury residential and hotel apartments and villas, providing a resort-living style to its residents. The project consists of a series of luxury low- rise buildings surrounded by resort-style recreational facilities as well as a prestigious villa community offering standalone villas as well as townhouses. The project will be part of the award-winning Rich Village series, a global luxury living concept developed by Hadara. In addition, the project will be surrounded by many attractions, including a world-class Golf Course, Cairo Festival City Mall, the prestigious Down Town shopping district and City Stars Mall. Furthermore, The Stone Park Compound will feature many lifestyle and recreational facilities including restaurants, cafeterias, shops, a private club with pools, a spa, a childrens fun zone with indoor and outdoor play areas, tennis and squash courts and a multi-purpose sports field. Mr. Tariq Ramadan, Chairman of Hadara, expressed his excitement about the opportunity to expand outside the UAE and into a stable and growing market. He said, This luxury project will be suitable for GCC customers and investors. It demonstrates a true smart and safe investment since it offers capital appreciation and attractive returns. At the same time, all sales revenues will be deposited into an Escrow account dedicated only to the construction of the project as well as other project related direct expenses. This means that investors money is 100% protected and guaranteed to be spent on the project. Commenting on signing the MOU Architect Hesham Shoukri, CEO & Executive President at Rooya Group, quoted, This partnership adds a new dimension to our Stone Park master development by developing a luxury project that attracts buyers and investors from outside Egypt, especially those from GCC countries. The unit owners will have the option to live in their units, hand them over to the hotel unveil first Estidama Villa Prototype in Al Ghareba development Sorouh Real Estate announces third quarter results BOUTIK Sun and Sky Towers expands its outlets with opening of Caf Macondo AME Info | Tamouh Investments: Tamouh's Wadi Adventure opens in the UAE Tamouh completes handover of Marina Square units Tamouh hands over six buildings at Abu Dhabi's Marina Square Development Tamouh receives completion certificates for four buildings in Abu Dhabi's Marina Square development Tamouh to finalise handover of Marina Square projects AME Info | Dar Al-Arkan: NASDAQ Dubai, Majid Al Futtaim and Emirates Airlines unite to discuss Middle East sukuk market Dar Al Arkan posts 69% drop in Q2 net profit Sabic bucks market drop, Dar Al Arkan dips on sluggish H1 results Prince Khalid bin Bandar officially inaugurates commercial center of Dar Al-Arkan Alqasr Mall Saudi bourse steadfast despite oil price decline AME Info | Omniyat Properties: Omniyat to bring in two international premium hotel brands and launch three mega service apartments projects The Square goes against market trends with reported 98% occupancy rate Omniyat crosses Dhs10m leasing milestone with The Square Omniyat Properties announces completion of first phase construction work on The Opus Spinneys set to open at Omniyat Properties first residential development AME Info | Mubadala: Middle East seeks groundwater conservation solutions amid rising water scarcity Page 19 UAE MEGA PROJECTS 13-May-14 2:59:23 PM http://uaemegaprojects.blogspot.ae/ Posted by Brett Siegel at 10:01 AM management company to rent them out for tourists, or a combination of both. This means that owners, especially those who are living in other countries, can enjoy a free 5-star living while on vacation in Cairo, and make money on their units when they are away. On the other hand, investors who choose to hand over the property to the management company, will enjoy attractive returns on their properties. ++ Hadara is a newly established UAE-based real estate development company operating worldwide through the development of real estate projects owned or co-developed by it. The company was founded by Mr. Tariq Ramadan who is considered one of the leading real estate industry figures in the Middle East. Hadaras vision is to become the most successful and innovative development company in the world. Hadara is a member of Tharaa Holding. http://www.hadaragroup.com/ ++ Rooya Group is one of the fastest growing real estate development and tourism investment companies in Egypt with an outstanding track record of successful completed or under development projects in Egypt valued at over US$ 2 billion. These projects include Stone Park Katameya in New Cairo, Telal Al-Sokhna Resort, Canals Village in Port Ghalib Marsa Alam, and Telal Al Alamein on the North Coast. http://rooyagroup.com/ No comments: T HUR S D A Y , OC T OB E R 2 4 , 2 0 1 3 Oman Mega Projects On The Rise! Like the rest of the GCC Oman is moving ahead strongly with Mega Project development. Currently Oman has over $100 Billion allocated for a wide variety of Mega Projects. In fact the Mega Project industry of Oman is expanding so fast that MEED(Middle East Economic Digest) is holding a large event October 28-30 in Oman at the Grand Hyatt Muscat called MEED Oman Projects Forum 2013. What follows is more information from MEED about the Forum and the Mega Projects being developed in Oman. Additionally I have included a chart of the top 40 Oman Mega Projects along with the amount of money (in US dollars) budgeted for each project. A total of 50 speakers will address the event which will be attended by 200 delegates from the Sultanate, the Middle East region and the world beyond. The conference is supported by Omans Ministry of Commerce & Industry and will hear an opening address from His Excellency Ahmed bin Hassan Al Dheeb, Undersecretary, Ministry of Commerce & Industry. Figures compiled by MEED Projects show 40 major projects are being executed or planned in the Sultanate. Of these, almost 25 percent are for major projects in the construction sector, which is dominated by plans to build a new town in Duqm. A similar amount of capital investment is planned in the transport sector. This includes the $ 15bn national rail program. Oil and gas projects combined account for almost $40bn of major projects being executed or planned in Oman. Oman is already pushing ahead with many major projects. Around $ 40bn worth of them are under execution, though some of the larger ones are at an early stage of development. But the largest portion of the Omani major project program is yet to come to the market. More than $50bn of major projects are under design or study. Over 30 librarians from GCC and Turkey convene for 'UAE eFada' Summit in Abu Dhabi UAE Green Festival 2014 announces official launch of its activities Researchers from Masdar Institute and TU Dresden assess progress on ATIC-backed Twin Labs Mubadala releases first half 2013 financial results AME Info | Dubai World: Gitex shopper 2013 opens GCC governments ramp up e- government services Ten start-up ideas chosen for DP World's TURN8 programme Top ranking Saudi Customs delegation led by Director General visits Jafza Nakheel to launch nearly 400 new homes at Al Furjan on Sunday AME Info | Qatari Diar: Qatari Diar dedicates progress in Dushanbe to the Emir and Qatar His Highness the Deputy Emir and Heir Apparent of Qatar join Tunisian Prime Minister to lay foundation for Tozeur Desert Resort High-level delegation expected at Qatari Diar groundbreaking in Tunisia Qatari Diar enters into MoU with Omani Ministry of Tourism Qatari Diar wins 557m Deal of the Year for London's East village AME Info | Limitless: Limitless signs Sharjah Islamic Bank at The Galleries' banking hub Limitless opens Business Lounge at Galleries Settlements worth Dhs807m put The World back on map Limitless signs MOU with Vietnamese government to implement halong star project Limitless hosts summer exhibition in support of Mawaheb AME Info | Ezdan Real Estate: Qatars real estate deals grow Page 20 UAE MEGA PROJECTS 13-May-14 2:59:23 PM http://uaemegaprojects.blogspot.ae/ The pace of execution of the major program is expected to be swift. Some $56bn of major projects under execution or planned are due for completion by the end of 2017. All $112bn of projects are due for completion by the end of 2022, MEED Projects figures show. The forum will hear a progress update about the Duqm port and special economic zone, which is Omans largest single Mega Project with budgeted investment of $20bn. Duqm is to be the location of a 250m barrel oil storage facility and a range of new industries. Were delighted with the response to this years forum, says MEED Events Chairman Edmund OSullivan. The speakers are first-class and we are very grateful to the Minister of Economy HE Dr Ali Al Sunaidy and his colleagues for their wonderful support. This conference will set a new benchmark for everyone doing business in and with Oman. Oman Projects Forum 2013 is supported by the National Bank of Oman as strategic partner; Oman Development Bank as SME Financial Partner; Ernst &Young as Knowledge Partner and Hill International as conference sponsor. TOP 40 OMAN MEGA PROJECTS UNDER EXECUTION OR PLANNED INCLUDING BUDGETS FOR EACH PROJECT: Project and Project Budget (in $Millions) 1. Duqm new town 20,000 2. Oman national railway 15,600 3. Duqm refinery & petrochemical complex 15,000 4. Khazzan & Makarem fields 15,000 5. Muscat & Salalah international airport expansion 5,200 6. Gas-based steel plant 3,000 7. The Wave development 3,000 8. Batinah expressway 2,600 9. Sohar Aluminium smelter expansion 2,400 10. Sohar refinery expansion project 2,300 11. Duqm IWPP 2,000 12. Haima Solar thermal hybrid power plant 2,000 13. Oman convention and exhibition centre 1,800 14. Masirah island causeway 1,500 15. Sur IPP 1,500 16. Sultan Qaboos medical city complex 1,480 17. Batinah coastal road project 1,312 18. Bidbid to Sur dual carriageway 1,156 SAK Holding Group clinches regional and global high rankings and appraisals Racing for the worlds tallest building Cityscape Qatar 2013 concludes Sheikh Hamad bin Jassim bin Jabor Al Thani tours Cityscape Qatar Exhibition AME Info | Deyaar: Deyaar to showcase unmatched Burj Khalifa district portfolio at Cityscape Global Dubai Deyaar commences handover of 'The Burlington' commercial tower at Business Bay Deyaar announces handover of 'The Burlington' commercial tower at Business Bay in September 2013 Deyaar reports Dhs27m net profit in Q2 2013 Deyaar opens new branch at Business Bay AME Info | Cayan Investment and Development: Cayan Real Estate Investment and Development Company launches Dhs1bn Cayan Tower Cayan to inaugurate world's tallest twisted tower in Dubai Cayan Real Estate Investment and Development announces successful completion of Silverene Cayan's Silverene Towers achieves phenomenal construction progress Cayan's Infinity Tower scales new heights AME Info | Star Giga: Star Giga Establishment inaugurates GoldCrest Views 2 at Jumeirah Lake Towers Star Giga Establishment begins delivery of GoldCrest Executive in Jumeirah Lakes Towers High demand for mid-income housing in UAE AME Info | Al-Futtaim Group: All-new Yaris Sedan re-enters UAE market and offers exceptional 'style at play' Plug Ins expects 25% increase in sales during Gitex Page 21 UAE MEGA PROJECTS 13-May-14 2:59:23 PM http://uaemegaprojects.blogspot.ae/ Posted by Brett Siegel at 1:44 PM Older Posts 19. Yibal Khuff sour development project 1,050 20. Development of Block 60 (Abu Butabul) 1,000 21. International medical city 1,000 22. Rabab-Harweel integrated project 1,000 23. Saraya Bandar Jissah Resort 1,000 24. Sohar iron ore pelletising plant expansion phase 2 1,000 25. Sohar PTA & PET plant 850 26. Dualization of Adam to Thumrait road 800 27. Sur steel plant phase 1 665 28. Nahayda-Ras Markaz terminal-Duqm refinery pipeline 600 29. Solar power plant (CSP) 600 30. Bodour NE Integratedsour oil and gas development project 500 31. Condensate recovery maximization 500 32. Main oil line true vapour pressure control project 500 33. Marmul enhanced oil recovery facilities phase 2 500 34. Marmul enhanced oil recovery facilities phase 3 500 35. Ras Markaz crude storage terminal 500 36. Rima fields Cluster 500 37. Salalah EDC and caustic soda facility 500 38. Sohar iron ore pelletising plant 500 39. Suwaiq IWP 500 40. Water Discus hotel Oman 500 For more information visit: http://www.meedconferences.com/oman/ 1 comment: Home Subscribe to: Posts (Atom) Blog Archive 2014 (7) May (1) Mega Projects Could Cost More Than Expected April (2) March (3) January (1) 2013 (12) 2012 (14) Al-Futtaim Automotive Group takes pole position at Al Badia Golf Club as main sponsor of Dubai Festival City Challenge Tour Grand Final Al-Futtaim Motors major global partner of TMC Australia Plug Ins announces results of UAE-wide CE survey AME Info | Union Properties: Union Properties Company plans to launch 6 new projects worth Dhs1.5bn Union Properties offers Control Tower at Motor City selling 20% of the units within a record time Two Union Properties DIFC developments registered Union Properties introduces Dubai Flea Market at UPTOWN Mirdiff Union Properties finalizes sale of Ritz Carlton Hotel at DIFC AME Info | Saba Properties: Residents move into SABA-3 Tower SABA-2 Residential Tower at JLT opens for residents Quality is key to a healthy Dubai property market SABA-4 Office Tower will ease commercial property shortfall Saba Real Estate lands new plot at Jumeirah Lakes Towers AME Info | Hydra Properties: Hydra Properties completes first phase of Hydra Village Hydra Properties to offer 50 residential units in Marina Square for delivery in June 2010 Hydra Properties reaches out customers at Cityscape Abu Dhabi Hydra Properties launches in- house bilingual call centre Hydra Towers to start rising as foundation work is complete AME Info | Plus Properties: Plus Properties participates in Erbil International Fair Plus Properties participates in Beirut International Property Fair Plus Properties opens new Sales Centre in Downtown Beirut Page 22 UAE MEGA PROJECTS 13-May-14 2:59:23 PM http://uaemegaprojects.blogspot.ae/ 2011 (7) 2010 (11) 2009 (19) 2008 (142) 2007 (13) Plus Properties signs with Assets - Real Estate Investments Jeddah to sell Lebanese real estate projects Plus Properties hits $100m sales in Venus Tower-Solidere Beirut within 48 hours AME Info | Diamond Investments: The first sustainable city to be launched in Dubai Diamond Developers completes first phase of Diamond Views project The Marina Diamond buildings increase the total supply of residential units in Dubai by 1300 homes Diamond Investments hands over Marina Diamond V Construction work in progress for Diamond Views 1 & 2 according to Diamond Developers AME Info | Tanmiyat Group: Tanmiyat assures local investors at Cityscape Tanmiyat focuses on overseas developments Tanmiyat commences site visits at Living Legends Tanmiyat reaches out to Living Legends home owners Tanmiyat eyes international emerging property markets AME Info | SNASCO: SNASCO Holding expands operations throughout MENA region Snasco showcases investment opportunities at Cairo International Exhibition Sharjah Investment Center commences delivery of 240 phase1 plots to clients Snasco's Sharjah Investment Center continues to attract investment Snasco partners in Algeria for Oran waterfront development AME Info | IRIS: DNA Centre signs cooperation deal with Iris Media Hotelandrest signs cooperation deal with EMG Worldwide Landmark tourism website launches in Abu Dhabi Page 23 UAE MEGA PROJECTS 13-May-14 2:59:23 PM http://uaemegaprojects.blogspot.ae/ Iris PR signs on new clients Tourism promotion website launches in Abu Dhabi AME Info | Gulf Holding Company: Gulf Holding Company signs new project manager to develop Villamar Project Gulf Holding signs with Al Hamad to complete the Villamar project Gulf Holding shareholders represented at Annual General Meeting with 79.85% attendance GHC celebrates topping out of Villamar @ the Harbour - Tower B Villamar @ the Harbour project on track AME Info | Al Qudra Real Estate: Abu Dhabi Urban Planning Council awards Al Qudra Real Estate National Housing Program project in Al Ain Al Qudra Real Estate announces opening of its Holiday Inn hotel in Abu Dhabi this month Al Qudra Real Estate collaborates with Al Hilal Bank to offer financing at Cityscape Abu Dhabi 2009 Al Qudra Real Estate, platinum sponsor of Cityscape Abu Dhabi 2009 Al Qudra Real Estate's concept project, Al Nasseem, praised for its sustainability and selected to test Estidama guidelines AME Info | Aqaar: Aqaar receives master developer licence for Ajman Ajman One project on track for 2011 completion Aqaar's Ajman One Phase 2 breaks ground Aqaar and Accor Hospitality team up to open new Novotel Aqaar Properties announces Phase 2 of Dhs2.7bn 'Ajman One' AME Info | Burooj Properties: Burooj Views completed and ready for delivery OCI awarded development contract for Burooj Properties Egypt project - Village Garden Katameya Page 24 UAE MEGA PROJECTS 13-May-14 2:59:23 PM http://uaemegaprojects.blogspot.ae/ Burooj Properties unveils new offers and incentives for Egypt project Burooj Properties to expand its client base by investing in Egypt Burooj Properties unveils new 'Mohammed bin Zayed' project for medium and limited income class AME Info | Al Manal Development: Al Manal Development to deliver lakeside residence Al Manal participates in Special Real Estate Summit Two contractors sign on for Al Manal Development's latest project Al Manal Development first to issue new RERA pre-registration certificates The first real estate trust account opened by Al Manal Development with Badr Al Islami AME Info | Al Faraa Properties: Al Fara'a Properties hands over 'Le Grand Chateau' project ahead of 2010 deadline Al Fara'a Properties affirms steady construction progress across its development portfolio Al Fara'a Properties achieves major milestone for its Dhs353m Manhattan Luxury Apartments Project Al Fara'a Properties presented `Best Development' award at CNBC Arabian Property Awards 2008 Al Fara'a Properties unveils Dhs2bn Bellatora Residences AME Info | Al Mazaya Holding: First Dubai signs agreement with local Islamic Bank to renew credit limits Al Mazaya sees 45% increase in rental income and 19% decrease in finance cost Al Mazaya General Assembly agrees against distribution of dividents for year 2012 Al Mazaya reports 92% increase in net revenues resulting Mazaya Qatar appoints new CEO AME Info | RAK Properties: Page 25 UAE MEGA PROJECTS 13-May-14 2:59:23 PM http://uaemegaprojects.blogspot.ae/ RAK Properties set to launch two new iconic residential projects at Cityscape Global 2013 RAK Properties launches world- class customer service centre RAK Properties posts net profit of Dhs51.10m in second quarter year 2013 RAK Properties' Board of Directors to announce 1st half financial results on 28 July RAK Properties offers sales packages giving full ownership over two and three year periods AME Info | Saraya: Saraya Aqaba signs $629m contract with international joint venture led by Arabtec Saraya Aqaba's General Assembly approves a JD450m capital increase Saraya Aqaba to increase capital by JD430m Saraya selects contractor for its W Amman hotel mixed use tower in Abdali Saraya Aqaba addresses solutions with customers AME Info | First Bahrain: Majaal breaks ground on new construction in Bahrain Majaal to be long-term home for Abudawood Alsaffar Co. Majaal signs new tenancy agreement at the Gulf Industry Fair 2013 Majaal doubles size of its facilities in Bahrain Majaal signs new tenancy agreement AME Info | RAKEEN: Rakeen Development gears up for showcase of highly anticipated island projects at Cityscape Global in Dubai Rakeen completes structural work and block work on Bab Al Bahr Rakeen completes 80% of infrastructure work on Ras Al Khaimah's Al Marjan Island Rakeen to participate in MIPIM / MIPIM Horizons 2010 Rakeen appoints Harradine Golf to design Mukhrovany Golf Village Page 26 UAE MEGA PROJECTS 13-May-14 2:59:23 PM http://uaemegaprojects.blogspot.ae/ GCC Business Recap: Ministry of Economy and US Department of Commerce express intent in forging stronger bilateral ties Second Al Gharbia Development Forum to highlight economic overview and investment opportunities in region Do expats enjoy the same retirement rights in the UAE as in their home countries? Bahrain expects non-oil sector to drive economy Oman says no decision yet on switching sponsors