MEED
Issue No 09 29 February - 6 March 2008
View all stories from this issue.
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Qatar Petroleum drops plans for engineering services venture
State oil firm to issue contracts to wider market after talks come to an end. -
Adbic plans listing on Abu Dhabi bourse
Abu Dhabi Basic Industries Corporation (Adbic) plans to float on the Abu Dhabi Stock Market (ADSM) within five years, after first raising several billion dollars in project finance debt. -
Al-Arrab Contracting Company
Director Samer Arafa explains how the company is stepping up its international expansion plans. -
Al-Arrab Contracting Company: MEED Assessment
In the future, it will not be a lack of business acumen that will stifle the company’s ambition -
Ankara targets Gulf investors to speed up privatisation plan
Turkish economy minister invites interest from public and private sectors. -
Arabtec in line for $800m contract for Burj al-Alam tower
The local Arabtec is the front-runner for the main construction contract on the Burj al-Alam tower in Business Bay, after entering exclusive talks with the client. -
Aramco links gas payments to deadlines
Saudi Aramco is considering linking some payments to contractors for the central engineering and construction contracts on the massive Karan gas field to a series of strict deadlines. -
Baghdad to clamp down on insurgents at Umm Qasr port
Government vows to restore security to allow $500m sell-off to go ahead. -
Contractors await Gecol payments
Contractors awarded packages on the 1,400MW Tripoli West and Al-Khaleej power plant projects in December have yet to receive advance payment from the client, General Electricity Company of Libya (Gecol). -
Developers move upmarket
With little money to be made from building further low-cost housing, a series of high-end properties are being planned to cater for Jordan’s burgeoning middle class. -
Doha plans $3bn west coast power and water plant
Qatar is evaluating an independent water and power project (IWPP) on the west coast of the country to make up the projected shortfall in power and water supply by 2012. -
Following Dubai’s lead
Deciding where to invest in the UAE real estate sector used to be straightforward, with Dubai the only real contender. But as the other emirates catch up, investors are faced with a far wider choice. -
Gulf states must build homes not hotels
The real estate sector faces a mismatch between what developers are building and what most countries need. While investors are keen to build luxury office and apartment blocks, the region’s cities need more affordable housing and industrial facilities. -
Gulf states should reveal oil reserves
There are few more controversial figures in the oil industry than Matthew Simmons. Since the Houston-based banker argued the case for the peak or declining oil scenario in his 2005 book ‘Twilight in the Desert’ he has been at the centre of a storm that has had a real impact on the rising oil price. -
High land prices limit opportunities in Kuwait
With most land outside of the densely packed urban areas owned by state energy provider Kuwait Oil Company, prices are reaching record levels, forcing investors to look elsewhere. -
Investors spoilt for choice
A survey of the Middle East’s real estate market reveals that Kuwait City has some of the most expensive land in the region, while Tripoli could be the next big thing for property developers. -
Iron ore hikes hit Gulf construction
Smaller projects cancelled as steelmakers pass on rising cost of raw materials to customers. -
Kuwait lays claim to Baghdad air fleet
A fierce legal dispute has broken out between Iraq and Kuwait over $6bn worth of planes to be acquired by Iraqi Airways while Baghdad delays settling compensation claims from the first Gulf War. -
Maaden to dominate fertiliser market
State mining firm expects to supply 20 per cent of $25bn market when Ras al-Zour complex opens. -
Market will make decision on dollar
The Middle East’s long-running preference for the dollar is looking increasingly shaky. -
Matthew Simmons calls on regional oil producers to curb output
Matthew Simmons, the controversial energy investment banker, has called on Middle East oil producers to reduce their oil production to extend the life of their reservoirs. -
Prices soar as investors seek stability
Despite the US-led economic sanctions, the cost of real estate in Tehran is rising rapidly as a lack of confidence in the stock market drives investors to the sector. -
Project financiers to abandon dollar
Banks avoid the greenback as liquidity dries up and speculation mounts over currency depegging. -
Q&A: Samer Arafa, director, Al-Arrab Contracting Company
The construction company wants to be one of the largest in the Middle East, as well as building its reputation in Europe and Asia -
Qatar's Energy Minister on expansion ambitions
Abdullah bin Hamad al-Attiyah has the difficult task of balancing international ambitions with domestic oil and gas expansion. -
Qtel restructures Wataniya in a bid to boost falling profits
Operator resolves disputes and replaces chief executives in four countries. -
Residential demand fuels boom
While ongoing political tensions are discouraging investment in Beirut’s commercial real estate market, high demand for housing has pushed up prices by a third over the past year. -
Rising costs hit Port Sudan contracts
Contracts for a refinery project near Port Sudan tendered in 2006 may be scrapped in an effort to manage escalating costs, according to a project source. -
Rising costs increase risk
As the cost of development in the Qatari capital soars, returns on investment remain healthy. But with inflation spiralling, existing properties offer a less-risky alternative. -
Riyadh holds talks over sustainable city concept
Saudi Arabia is joining the trend for environmentally friendly development, with talks being held over a sustainable city concept for one of the kingdom’s six economic cities. -
Sharia-compliant banking to grow with launch of Al-Umah
Number of Islamic institutions in the Emirates to almost double this year. -
Special Report: Construction sector - Growing Pains
The regional construction boom continues - but contractors are struggling to keep up the pace in light of material shortages and capacity constraints. -
Special report: Real estate - Margins rise
With property prices soaring in Dubai, and rising construction costs driving up the cost of property development across the Gulf, investing in Middle East real estate is becoming increasingly complex. -
Steel hikes fuel drive to reform
The result of price negotiations between one of the world’s biggest iron ore producers and major Asian steelmakers has pushed up the cost of iron ore, the basic raw material used in steel, by at least 65 per cent this year. -
The next big thing
As Libya slowly comes out of international isolation, demand for all classes of commercial real estate is soaring, and the major developers are moving in. -
The region’s biggest growth market
The expected passing of a mortgage law this year will significantly increase the already high demand for housing in the kingdom, providing the greatest opportunity for developers in the Middle East. -
The sub-prime wrecking ball: $1.5bn losses hit pan-Arab banks
Massive losses on sub-prime assets are putting pan-Arab banks under scrutiny. -
Tripoli has to shake off the past
Libya is open for business. At least that is the message that Tripoli has been trying to convey to the outside world since sanctions were lifted four years ago. -
UAE ports sector: six key people
The six most important people in the UAE ports sector: Sultan Ahmed bin Sulayem, Sheikh Khaled bin Abdullah al-Qasimi, Ahmed Saeed al-Calily, Sheikh Saleh bin Mohammad al-Sharqi, Jorn Hinger and Ven Govinda.
