Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Qatar - Optimism in construction sector in Gulf  Join our daily free Newsletter

MENAFN - The Peninsula - 04/02/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - The Peninsula) There is a growing optimism in the Gulf construction market in 2014 with major projects on the horizon such as FIFA World Cup and Expo 2020, despite concerns on financial flow and lack of skilled workers.



The Sixth Annual GCC Construction Survey by international law firm Pinsent Masons found that 90 percent of companies perceived there to be greater optimism in the market, with 77 percent reporting a healthier order book for the next 12 months in comparison to the previous year.



However, 96 percent of respondents, which included some of the region's largest contractors, developers, consultants, and other stakeholders, said that the cost of capital for projects was either as expensive (43 percent) or more expensive (53 percent).



"Qatar continues to attract major investment due to the wealth of opportunities ahead of the 2022 World Cup and several major infrastructure projects to be procured as part of the Qatar National Vision 2030," said James Elwen, Head of Office at Pinsent Masons in Qatar.



Responding to questions about operating in different regional markets, 70 percent of companies said the pace of market growth in Qatar had disappointed in 2013, while 73 percent said Abu Dhabi had disappointed.



Despite the view on Abu Dhabi, the vast majority of firms (96 percent) said the UAE is the easiest market to do business within the region



Commenting on the results, Sachin Kerur, Head of Gulf Region at Pinsent Masons, said: "A number of major projects on the immediate horizon, such as Expo 2020 and the Qatar World Cup, have added a real sense of momentum. However, it is important to address the issues surrounding finance. They also tell us that their margins are being squeezed due to rising production costs and inflationary pressures."



Major concer



Cash flow was cited as a major concern, with 62 percent of companies complaining of longer payment periods, although this is a reduction from the 78 percent of companies, who expressed concern over the issue in the previous year's survey



"It is interesting that the proportion of respondents to our survey who expect to be involved in Public-Private Partnerships (PPP) has doubled relative to the previous year's results, reflecting an increasing recognition that this will be an important part of the mix in years ahead," said Kerur.



The survey also said the lack of skilled workers was cited as a major drag on growth. It said there is a need for the GCC's educational institutions to do more to meet the skills requirements



Survey said construction projects in the transport sector are expected to offer the greatest opportunities in 2014 with real estate comes second most promising secto


 


The Peninsula




  MENA News Headlines
 Dec 22 2014 - Kuwait- Al-Azemi wins endurance horse raceArab Times
(MENAFN - Arab Times) KUWAIT CITY Dec 21 (KUNA): Female equestrian Abrar Al-Azemi won the 'Al-Qudra wa Al-Tahammul' (capability and endurance) horse race held on Sunday as part of the Kuwait's Fifth ...

 Dec 22 2014 - Saudi Kuwait say no oil output slash even if non-OPEC nations doArab Times
(MENAFN - Arab Times) ABU DHABI Dec 21 (AFP): The Saudi and Kuwaiti oil ministers said Sunday that their countries would not cut oil production even if non-OPEC members reduce their output to shore ...

 Dec 22 2014 - Kuwait: 1760 illegal residents get drivers' licenses in '14Arab Times
(MENAFN - Arab Times) KUWAIT CITY Dec 21 (KUNA): A total of 1760 drivers' licenses were issued for illegal residents in the first nine months of 2014 the Central Agency for Remedying Illegal ...

 Dec 22 2014 - Iraq premier thanks Kuwait for compensation defermentArab Times
(MENAFN - Arab Times) KUWAIT CITY Dec 21 (KUNA): Visiting Iraqi Prime Minister Haider Al-Abadi expressed his gratification at the Kuwaiti government's acceptance to defer Iraq's payment of ...

 Dec 22 2014 - Saudi King's bid to heal Qatar-Egypt ties hailedArab Times
(MENAFN - Arab Times) KUWAIT CITY Dec 21 (KUNA): His Highness the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah on Saturday sent a cable to Saudi King Abdullah bin Abdulaziz Al Saud to congratulate ...

 Dec 22 2014 - Kuwait- Al-Sanea opens Awqaf Forum on 'behalf' of Crown PrinceArab Times
(MENAFN - Arab Times) KUWAIT Dec 21 (KUNA): Minister of Justice and Minister of Awqaf and Islamic Affairs Yaqoub Al-Sanea on Sunday said stability of legislative and executive powers led to achieving ...

 Dec 22 2014 - Kuwaitis to visit UK easily via e-visa by 1st half 2015Arab Times
(MENAFN - Arab Times) KUWAIT CITY Dec 21 (KUNA): The Kuwaiti-British committee tasked with bolstering bilateral relations was due to hold a meeting in Kuwait last week but it was delayed till early ...

 Dec 22 2014 - UAE- Watch: A spacecraft's trial by fire as it returns to EarthKhaleej Times
(MENAFN - Khaleej Times) The video begins 10 minutes before Orion's splashdown in the Pacific Ocean just as the spacecraft was beginning to experience the Earth's atmosphere. New York: A video ...

 Dec 22 2014 - UAE- Video shows Boko Haram killing captivesKhaleej Times
(MENAFN - Khaleej Times) Boko Haram militants have released a new video showing gunmen mowing down civilians lying face down in a dorm googletag. A new video from Nigeria's home-grown Boko Haram ...

 Dec 22 2014 - UAE- Kate Winslet in Jobs movieKhaleej Times
(MENAFN - Khaleej Times) Given the pedigree of the pic its no surprise Winslet was drawn to the role. Kate Winslet is in negotiations for the female lead in Universal’s Jobs the biopic of the ...

more...


 






Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help