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
 Jan 29 2015 - 'You will die alone' French government warns would-be jihadistsThe Peninsula
(MENAFN - The Peninsula) "You will discover hell on earth, and will die alone" - that is the stark message from the French government in a new social media campaign aimed at discouraging would-be ...

 Jan 29 2015 - Qatar- Resurgent River Goddess clinches Umm Al Houl CupThe Peninsula
(MENAFN - The Peninsula) River Goddess produced a late surge to win the Umm Al Houl Cup as popular jockey Harry Bentley topped the feature race with a electrifying finish at the Qatar Racing and ...

 Jan 29 2015 - Qatar continue dream run and book first-ever semi-final spotThe Peninsula
(MENAFN - The Peninsula) Cuban-born Rafael Capote's eight goals helped hosts Qatar pull off a dramatic 26-24 win over former champions Germany yesterday and earned them their first-ever place in the ...

 Jan 29 2015 - Qatar down Germans to enter semi-finalThe Peninsula
(MENAFN - The Peninsula) Qatar's Youssef Benali (left) reacts during the Qatar 2015 24th Men's Handball World Championship quarter-final match against Germany at the Lusail Multipurpose Hall outside ...

 Jan 29 2015 - UAE- Lulu among top 250 global retailersThe Peninsula
(MENAFN - The Peninsula) UAE-based Lulu Group, which runs the Lulu chain of supermarkets, has been risen in the latest edition of a list of the biggest retailers in the world.The company, headed by ...

 Jan 29 2015 - Qatar trade balance hits QR22.7bn, PPI declinesThe Peninsula
(MENAFN - The Peninsula) Qatar's trade balance of goods, which represents the difference between total exports and imports, showed a surplus of QR22.7bn in December 2014, a decrease of QR11.1bn, or ...

 Jan 29 2015 - Qatar- Huge dip in calling rates after Vodafone entry: CEOThe Peninsula
(MENAFN - The Peninsula) Competition in domestic telecom market has brought international calling rates significantly down in Qatar. International calling rates have fallen by up to 92 percent, when ...

 Jan 29 2015 - Qatar- QBA hosts UK trade delegationThe Peninsula
(MENAFN - The Peninsula) The Qatari Businessmen Association (QBA) hosted a luncheon in honour of the visiting British trade delegation led by the Lord Mayor of the City of London Alderman Alan Yarrow ...

 Jan 29 2015 - Qatar's UK investments touch £30bnThe Peninsula
(MENAFN - The Peninsula) With investment worth an estimated £30bn in the UK, Qatar is looking to further expand its stakes in Britain. To boost the bilateral trade and to help the Qatari and British ...

 Jan 29 2015 - Bahrain opposition head rejects charges as trial opensThe Peninsula
(MENAFN - The Peninsula) Bahraini Shiite opposition chief Sheikh Ali Salman, in custody for allegedly trying to overthrow the kingdom's Sunni regime, rejected the charge as his trial opened ...

more...


 






Google

Click to Apply

 
 

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