Category: Uncategorized

Mark Geilenkirchen-CEO-Port of Sohar

Qatar keeps up with construction demand

Posted OBG AdminPosted in Uncategorized

  As with every construction boom, the cost of materials in Qatar remains a concern, especially the rising cost of primary construction materials. With demand for gabbro, bitumen and limestone expected to show triple-digit increases in the near term, contractors are facing serious challenges in delivering key infrastructure projects on time and on budget. The situation is exacerbated by the hard deadline set by the 2022 FIFA World Cup; while projects under Qatar National Vision 2030 (QNV 2030) have the advantage of flexible timelines, and could be delayed if fast-rising materials prices proved untenable for contracts, developments such as World Cup stadia cannot be postponed.

Peter Wong-Deputy Chairman and Chief Executive-HSBC

Qatar prepares for the 2022 World Cup

Posted OBG AdminPosted in Uncategorized

  While Qatar’s current infrastructure boom has been in the works since 2008, when Qatar National Vision 2030 (QNV 2030) was unveiled, development has been given extra impetus, and a mid-term deadline, by the 2022 FIFA World Cup. With 1m visitors expected to flock to the state for the tournament, tourism projects have risen to the forefront of Qatar’s high-profile developments. Contractors will benefit from the construction of eight multibillion-dollar stadia and a rash of hotel builds, adding tens of thousands of beds to the existing supply and making tourism one of the most high-potential construction segments, although concerns over the long-term sustainability of so

Mokhtar Naouri-CEO-CASH Insurance

Qatar seeks new solutions for construction challenges

Posted OBG AdminPosted in Uncategorized

  Rapid economic growth, a multibillion-dollar construction portfolio and preparations for the 2022 FIFA World Cup have drawn industry professionals to Qatar to work on some of the most complex, high-value projects in the region. Project spending is expected to reach $182bn over the next five years, presenting a raft of design opportunities in tourism, infrastructure, sports and real estate, which will join projects currently under construction that include thousands of new hotel rooms, dozens of new shopping and entertainment centres, the Qatar National Museum and World Cup stadia. These projects have provided opportunities for a number of international architects, master planners and design consultants,

Nhon Luc Ly-CEO-AIA Myanmar; Son Nguyen-Country President-Chubb Life Insurance Myanmar; Daw Zarchi Tin-CEO

Qatar caters to the upper end of the tourism market

Posted OBG AdminPosted in Uncategorized

  Qatar’s economic diversification plans combined with robust population growth require the construction of additional infrastructure, including an extensive hotel network that will support the country’s burgeoning travel market. The country’s tourism authority anticipates a rapid increase in the number of visitors in the build up to the 2022 FIFA World Cup and is also actively supporting the development of a number of hotel properties. Catering to demand from Qatar’s wealthy clientele, the majority of these developments are four-and five-star luxury offerings that are geared towards serving the upper end of the market. TOTAL HOTEL STOCK: The total stock of existing hotel rooms points to

George Richani-CEO-Al Ahli Bank of Kuwait

Sarawak’s education sector gears up for a state-mandated English proficiency test

Posted OBG AdminPosted in Uncategorized

In the autumn of 2014, a learning programme was launched to beef up students’ English-language skills at 31 primary schools and two secondary schools, called the English Literacy Directions Programme for Secondary Schools and English Camp. A joint project of the Department of Education and the Sarawak Foundation, a state body in charge of educational quality, the camp is an early effort by educators to prepare students for an English proficiency test the federal government recently mandated for graduates of public universities. In preparation, universities are being urged to provide more English classes, starting earlier on. (sportslogohistory.com) The move has been hailed by parents, students

Chaim Zach-Managing Director and CEO-Agric International Technology and Trade; Kabiru Rabiu-Group Executive Director-BUA Group; and Aliyu Abbati Abdulhameed-Managing Director

Pepper production has performed strongly in Sarawak

Posted OBG AdminPosted in Uncategorized

  Riding a wave of robust market prices, Sarawak’s pepper industry has continued to post financial gains as global demand for the spice continues to grow. The state dominates Malaysia’s pepper sector, accounting for roughly 95% of the country’s output. As a result, pepper has become a major cash crop supplementing the timber and palm oil industries. First cultivated during the 19th century, Sarawak pepper has become internationally prized for its high quality over the years. BULL RUN: Malaysia consistently ranks in the world’s top five exporters. The country shipped out 12,105 tonnes of the spice in 2013, according to data from the International Pepper

Daniel Asare-Kyei-CEO-Esoko; Curtis Vanderpuije-CEO-ExpressPay; and Daniel Marfo-General Manager-Zipline Ghana

Better than the rest: The state is building a solid foundation for growth in Islamic finance and insurance

Posted OBG AdminPosted in Uncategorized

The Malaysian government has worked to position itself as the world’s Islamic financial centre, with Sarawak now home to a variety of Islamic financial institutions as well. The federal authorities have largely achieved this through several major steps. In 2006 the government both established the Malaysia International Islamic Financial Centre and liberalised regulations on foreign issuance of Islamic bonds. Then, in 2013, it instituted the Islamic Financial Services Act 2013 (IFSA), focused on regulation and oversight of Islamic financial institutions, and introduced the issuance of

Emmanuel Macron-President of France

Keeping things moving: Upgrading logistics infrastructure in line with demand

Posted OBG AdminPosted in Uncategorized

While construction teams can expect to be busy building railways across Saudi Arabia for the next few years, the vast majority of internal freight transport in the Kingdom is currently carried by road. Goods bought by companies and consumers, whether they be imports or domestically produced, are shipped along the country’s 59,000 km of asphalted roads, as are the materials being used to develop the country’s infrastructure. According to the Central Department of Statistics and Information, 195,565 new trucks were imported into Saudi Arabia in 2012, compared to 89,582 in 2003, representing a 118% increase in less than a decade. In its report on first-quarter

Mohammed El Etreby-Chairman-Banque Misr

Shared services: Expanding urban public transport is a government priority

Posted OBG AdminPosted in Uncategorized

Consumer petrol prices in the Kingdom are the second-cheapest in the world behind Venezuela. Given this and the size of the country (2.15m sq km), it is unsurprising that it also has a strong car culture. As such, the prospects for public transport might seem limited, but the government has a clear commitment to improving public transport in cities as a means of easing congestion and making it easier for citizens to get to work. RIYADH METRO: Perhaps the best illustration of the government’s intent is happening on the streets of Riyadh. The capital is set for major changes over the next decade with the

Mohammed El Etreby-Chairman-Banque Misr

Room to rent: The office market is set to see a large increase in inventory

Posted OBG AdminPosted in Uncategorized

With the Saudi economy growing strongly, residential property is not the only real estate asset expected to show potential in the coming years. The commercial office segment should also be driven by the same fundamental demand dynamics that are propelling other aspects of the industry forward. Expansionary fiscal policy underpinned by large oil receipts continues to drive economic growth in the Kingdom. The government’s commitment to infrastructure development as a platform for diversification and private sector expansion could stimulate additional office demand over the next decade. According to the National Bank of Kuwait, the Saudi non-oil economy grew at a rate of 8% per annum