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    Local, Italian companies partner up to establish food retail chain in Egypt

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    Egypt’s agriculture minister stresses importance of boosting intra-regional trade cooperation among African states

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          Ministry signs agreement to support Oman’s honey industry

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          Local, Italian companies partner up to establish food retail chain in Egypt

          Local, Italian companies partner up to establish food retail chain in Egypt

          Egypt’s agriculture minister stresses importance of boosting intra-regional trade cooperation among African states

          Egypt’s agriculture minister stresses importance of boosting intra-regional trade cooperation among African states

          Azerbaijan, Iraq discuss prospects of relations

          Azerbaijan, Iraq discuss prospects of relations

          Oman inks pack to bolster role of SMEs in food systems

          Oman inks pack to bolster role of SMEs in food systems

          MAFWR, Port of Duqm sign MoU

          MAFWR, Port of Duqm sign MoU

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            Egypt’s Trade minister, Hungarian ambassador discuss economic relations

            Egypt’s Trade minister, Hungarian ambassador discuss economic relations

            Turkey eyes $5bn bilateral trade with Qatar

            Turkey eyes $5bn bilateral trade with Qatar

            Iraq set to award new Faw Port deals

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            Deal signed to set-up first factory in Qatar to assemble electric vehicles

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            Railway line to be built between Mosul, Turkey: governor of Nineveh

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            Local, Italian companies partner up to establish food retail chain in Egypt

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            Foundation stone laid for new 700-bed hospital is Salalah, Oman

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            Iraq set to award new Faw Port deals

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            Miral’s premier Abu Dhabi waterfront project work on track

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              Investments in renewables in Egypt reach LE6 bn: Official

              Egypt signs 8 gas exploration contracts worth $934mn over 15 months

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              JGC lands $3.7bn Iraq refinery upgradation project deal

              JGC lands $3.7bn Iraq refinery upgradation project deal

              Tadweer opens phase 2 of solar power plant at Al Dhafra

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              France to help Iraq generate electricity, will invest in education, science: Macron

              Acwa Power inks finance deals for 900MW Dubai solar park

              Acwa Power inks finance deals for 900MW Dubai solar park

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                Coronavirus: UAE conducting human trials for Covid-19 vaccine

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                Egyptian COVID-19 drug to be on market in two weeks: Health Ministry

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                UAE launches phase III trial of inactivated Covid vaccine

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                COVID-19 vaccine could be available by autumn: Oxford University

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                Qatar has ‘solid’ line-up of infrastructure, hospitality projects to prepare for large influx of visitors in 2022: OBG

                Saudi to be among world’s big leisure tourism hubs by 2030

                Saudi to be among world’s big leisure tourism hubs by 2030

                Qatar’s hospitality sector peaks despite turbulent 2020

                Qatar’s hospitality sector peaks despite turbulent 2020

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                Accor inks deal to manage first Swissôtel-branded hotel and residential project in Qatar

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                Staycations to stimulate Qatar’s hospitality sector

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                Quarantine rule to give a boost to Qatar’s hospitality industry in Q3: CWQ report

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              Contracting projects worth more than $900 billion in GCC

              ifpinfo

              August 4, 2013
              in Infrastructure
              0

              Despite the economic and financial challenges the world over, the GCC contracting industry is projected to post a strong growth in the coming years due to the vast number of projects being planned and executed.

              This is highlighted in Kuwait Financial Centre 's (Markaz) recently published executive summary of a report on the GCC contracting industry. In this research note, Markaz analyzes the potential opportunities in contracting space across industry verticals in terms of project value and status. The report highlights industry growth drivers and business challenges and deals with profiles of contracting players and their financial data.

              Relatively less affected by the global financial crisis and the political turmoil in the wider MENA region, the contracting industry in the GCC, which is witnessing strong growth, is projected to increase further in the years to come. Currently, projects worth more than $900 billion are at various stages of development throughout the GCC of which real estate projects account for a significant value at $516 billion.

              Urbanization of a young, growing population, influx of expatriate labor, and relaxation of rules allowing foreign ownership of real estate have led to increased demands for affordable housing. The focus has thus shifted from catering to higher income groups, to middle and lower income groups. Public-private partnership projects are another avenue that is yet to be fully explored.

              The GCC countries are investing significantly in infrastructure development across many verticals, to meet the rising demands of a young and vibrant population, improve accessibility within the region, and to diversify the economy away from the oil and gas sector. This expansion is supported by rising government surpluses, enhanced spending measures, and higher budgetary allocations to infrastructure development. The opportunities for both local and international contracting players in the industry are plentiful, resulting in increased competition, and a challenging business environment, according to the report.

              While the overall outlook for the industry is optimistic, it faces challenges within and outside the GCC region.

              Lower growth forecasts for major economies and slower recovery of European countries from the debt crisis could affect international oil prices and therefore the spending pattern of the GCC countries. Increasing competition, rising costs, availability of skilled and unskilled labor, supply chain bottlenecks — with GCC nations dependent on imported machinery, raw materials and labor — could lead to lower net profit margins in the industry. Diligence measures with respect to lending for real estate and other construction activities have been strengthened after the Dubai crisis. Banks have enforced stricter collateral requirements, equitable distribution of project risks, and stringent covenants on project cash flows to safeguard their equity.

              Attracting foreign investments is also a challenge due to high degree of information asymmetry, poor enforcement of legal contracts and lack of protection for investor interests.
              ifpinfo
              4 August

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