Companies in the GCC’s construction sector are expecting to receive more orders this year compared to 2018 – according to Pinsent Mason’s GCC Construction Survey. The survey reveals that 58 per cent of respondents have experienced an increase in their order books so far in 2019. According to the annual survey, KSA is the number one market expected to deliver growth in 2019, with 55 per cent of respondents expecting the country to provide the most opportunity over the next 12 months, compared to 29 per cent in 2018. Presented to industry professionals at Pinsent Masons’ Annual Construction and Engineering…
Author: Kasun Illankoon
Ducab, one of the UAE’s largest manufacturing businesses, has appointed Mr. Meshal Al-Naqbi to the position of Chief Financial Officer, taking responsibility for the management of the company’s global finance operations. Al-Naqbi has been serving as the Deputy CFO at Ducab since 2016. Dr. Ahmad Bin Hassan Al Shaikh, Ducab Chairman, applauded the appointment: “Ducab are committed to continuous career development for all employees and promotion from within. The Ducab Board have closely followed Meshal’s career since he joined Ducab in 2016 as part of the company’s active development of Emirati professionals. We are delighted to be able to recognise…
Growing demand for speed, quality and cost-effective construction is paving the way for growth in pre-engineered buildings (PEB) system in the Middle East amid booming infrastructure development. To further address this need, Technical Supplies & Services Company (TSSC), a leading manufacturer of advanced building materials and systems in the region and a primary member of Harwal Group, has invested in a first-of-its-kind automated production of Cold Rolled Steel (CRS) as part of its PEB offerings in regional markets.
Abu Dhabi Fund for Development (ADFD), the leading national entity for international development aid, has signed three agreements with the Government of Uzbekistan. These include a memorandum of understanding (MoU) to assess the possibility of financing infrastructure projects in Samarkand worth US$300 million, a US$5 million concessionary loan agreement for feasibility studies for the Samarkand infrastructure projects, and an agreement to establish an investment company between ADFD and Uzbekistan to draw investments into Uzbekistan. His Excellency Mohammed Saif Al Suwaidi, Director General of ADFD, signed all the three agreements on behalf of the Fund. For Uzbekistan, His Excellency Elior Ganiev,…
Minimising the risk of budget overspend, delayed openings, and the tactics to avoid further issues have been outlined in the latest research by leading international real estate and construction consultancy, Drees & Sommer. The findings of the research paper, Hotel Pre-opening: A tactical approach, have revealed that there are three main causes for delay in the handover from a contractor to a hotel owner, namely: lack of communication between project stakeholders, contractor time pressure and delayed deliverables from third party contractors. With Dubai aiming to attract 20 million visitors in 2020 and overnight visitors to the Middle East exceeding 64…
Progress on major infrastructure enhancements and increased connectivity are expected to boost Makkah’s tourism capacity and create a wave of development opportunities, says leading real estate firm JLL. Makkah is undergoing major transformation under Vision 2030, with several government initiatives paving the way for the Holy City to increase its capacity to 30 million pilgrims annually by 2030. 2018 witnessed milestone progress with the megaproject Rou’a Al Haram Al Makki announcement, the inauguration of Al Haramain High Speed Railway and soft opening of the new King Abdulaziz International Airport in Jeddah. The focus on driving connectivity is a Kingdom wide…
Ras Al Khaimah Tourism Development Authority (RAKTDA) broke ground last week on the construction of a new, dynamic skatepark at Saqr Park, in attendance of Haitham Mattar, Chief Executive Officer, RAKTDA and Eng. Ahmed Mohammed Ahmed Al Hammadi, the Director General of Public Works and Services Department (PWSD).
The global market for smart city information and communications technology (ICT) is forecasted to hit the USD 994.6-billion mark by 2023 from USD 476.7 billion in 2018, representing a compound annual growth rate (CAGR) of 15.8 percent, a report by BCC research showed. The report attributed the exponential expansion to the rising number of smart cities worldwide in light of the rapid urbanization rate, booming population, and calls for sustainable development. North America is seen to take the lead in terms of market size but Asia-Pacific will experience the highest growth at 18.9 percent CAGR, the report said. In MENA…
The UAE’s manufacturing sector has witnessed a prestigious achievement as Sharjah based Quality International Co. Ltd. FZC, a leading process equipment manufacturer and module builder in the UAE, shipped two out of 24 modules for TOTAL’s new $1.7 billion ethane steam cracker project in Port Arthur, Texas. At Quality International, we take pride in Building Equipment and Building Nation.” said Mr Shashi Ramakrishnan, Managing Director of Quality International. “This is a milestone accomplishment not just for Quality International but for the UAE’s manufacturing industry as a whole. We are proud to be the first UAE based equipment manufacturer to win…