The construction sector is predicted to grow to more than $193bn in construction contracts by end of 2015. While the global construction equipment market is said to hit $240bn by 2020. Nathan Waugh, portfolio director at dmg events, predicts that there would be massive investment in transforming infrastructure projects across the GCC. Regional projects like the Etihad Railway and Gulf Railway networks top the bill. Contracts for the 628 kilometre Etihad Rail Stage 2 are due to be awarded in 2015 and 2016, and are part of the $11bn Etihad rail project. These investments are reflected across all sectors of…
Author: Paromita Dey
Lifting of sanctions on Iran will lead to drastic changes as Iranian businesses open to regional and global markets, concludes the Opportunity Iran 2015 report by MEED, which reveals Tehran will sign $100bn worth of energy deals once economic sanctions are fully lifted. The main sanctions which include the United Nations, US and European Union will be lifted by the end of the year after a final assessment by the International Atomic Energy Agency (IAEA). After the lifting the sanctions, the report states that, large-scale investment in oil, gas and petrochemicals projects will be a top priority. Even though Iran…
Emirates Green Building Council (EmiratesGBC) along with Middle East Facility Management Association (MEFMA), hosted a networking event focussed on the role of facility management (FM) companies in the burgeoning retrofit market in the UAE and the importance of education and trained professionals in post-retrofit maintenance. The discussion was moderated by Khaled Bushnaq, Vice Chair of EmiratesGBC, with panellists including: Ali Al Suwaidi, Board Member of MEFMA; Stuart Harrison, Support Services Director of Emrill Services LLC; and K. Anbalagan, Managing Partner of Proleed Mechanical Engineering Consultancies. Key topics addressed included: training, retrofitting certifications and the importance of energy auditors in building…
Boris Ejsymont, regional manager of SolidNature GCC, speaks with Construction Business News ME about one of the first building materials used in ancient times, natural stone, and how its use today is still relevant According to regional experts, developers will increase investment in GCC marble, stone, and ceramics expanding to 5.8% this year to $5.4bn. What is driving this demand? As development in this region continues to boom, there is an increasing variety of natural stone and other ‘stone’ options such as ceramic tiles and artificial stones. The latter are becoming more popular due to the competitive pricing. However this…
Experts based in Saudi Arabia analyse its real estate market and how the government is playing an active role in combating industry challenges Which sectors in Saudi Arabia real estate market are doing the best: residential, retail, office or hospitality? Ahmad: Driven by a growing population and rising income levels, the performance of retail and office in selected cities is considered attractive. Also, currently hospitality sector across the kingdom is doing extremely well. Although the activity level in the residential sector has recently slowed down, the demographic and organic growth of the population base will likely ensure the sustainability in…
After Abu Dhabi Urban Planning Council’s (UPC) announcement to include university students in major projects, Lorraine Bangera speaks with graduating students to know the value of an internship in the GCC In early August, urban design students at the UAE University were offered the chance to work on some of Abu Dhabi UPC’s upcoming projects. The collaboration between the two entities was established in order to set up a training programme for local students to enhance their young talent. The organisation is set to provide five annual internship opportunities, as well as the chance to work on some of its…
Oil prices have fallen 55% since September 2014 and the International Monetary Fund has warned GCC governments to curb spending in the face of predicted budget deficits this fiscal year. As global supply dynamics continue to spook investors Melanie Mingas looks at the potential impact on the construction and renewable energy industries If one story has dominated the summer of 2015, it has been that of the tumbling oil price. After four years of steady income, with the price per barrel resilient enough to remain over $100 in the face of complicated and ongoing global economic factors, recent months have…
Gasoline prices headed up, diesel prices headed down. What do the changes mean for local construction businesses? Stuart Matthews writes The announcement was unexpected, brief and the change came quickly. In a little over the space of a week the UAE went from having substantially subsidised fuel, to seeing its petrol and diesel prices determined by global market values and the newly-formed Fuel Price Committee. For years the price of petrol and diesel in the UAE has been subsidised by the government. This has shielded buyers from global fluctuations in the cost of petrol and diesel, influenced by the price…
ALEC CEO Kez Taylor speaks with Lorraine Bangera about making health and safety a culture rather than an imposing rule, and how his team excels in every project Recognised for its health and safety, Al Jaber Legt Engineering and Contracting (ALEC) stands out as a top contractor when it comes to health and safety. Last year, ALEC’s threshold Lost Time Injury Frequency Rate (LTIFR) was set at 0.030. The company not only remained well below this threshold but has more than halved the LTIFR for 2013. Its LTIFR history demonstrates a 90% reduction in LTI’s between 2006 and 2014. Kez…
Multi-billion dollar construction projects lead to multi-billion dollar FM contracts. But how should the facilities management sector evolve? As the region shifts from an outdated approach of constructing and maintaining buildings to a more technologically advanced formula, the facilities management (FM) sector seems to be benefiting the most. The usually forgotten and undermined sector is now increasingly and rightly recognised as a key player in the overall lifecycle of a built asset. Earlier this year, FM trends were highlighted in the ninth annual FM Expo organised by dmg events at the Dubai World Trade Centre. The event’s senior project manager…