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 businss 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
 May 26 2016 - Saudi- Living cost index in the Kingdom rises 0.2% in AprilSaudi Press Agency
(MENAFN - Saudi Press Agency) Riyadh, Sha'ban 19, 1437, May 26, 2016, SPA -- The index of the cost of living in the Kingdom rose by 0.2% during the month of April 2016 compared to the previous month ...

 May 26 2016 - Governor of Riyadh Region receives Cyprus' AmbassadorSaudi Press Agency
(MENAFN - Saudi Press Agency) Riyadh, Sha'ban 19, 1437, May 26, 2016, SPA -- Prince Faisal bin Bandar bin Abdulaziz, Governor of Riyadh region, received here today the Ambassador of Cyprus to the ...

 May 26 2016 - Israeli warplanes launch raids on Gaza StripSaudi Press Agency
(MENAFN - Saudi Press Agency) Ramallah, 19 Sha'ban, 1437, May 26, 2016, SPA -- Israeli warplanes launched today a series of air raids on sites and targets in the Gaza Strip. Local security sources ...

 May 26 2016 - Saudi- Three dead, many injured in Mumbai chemical factory blastSaudi Press Agency
(MENAFN - Saudi Press Agency) New Delhi, Sha'ban 19, 1437, May 26, 2016, SPA -- At least three people have died and several have been injured in a huge blast at a chemical factory on the outskirts ...

 May 26 2016 - Turkmenistan's Deputy Prime Minister and Foreign Minister receives Member of Saudi Council of Economic Affairs and DevelopmentSaudi Press Agency
(MENAFN - Saudi Press Agency) Ashgabat, 19 Sha'ban, 1437,May 26, 2016, SPA --Deputy Prime Minister and Foreign Minister of Turkmenistan Rasit Meredow has received in the Turkmen capital, Ashgabat, ...

 May 26 2016 - Saudi Ambassador meets Algerian officialsSaudi Press Agency
(MENAFN - Saudi Press Agency) Algiers, 19 Sha'ban,1437 AH, 26 May,2016 , SPA - Saudi Ambassador in Algeria Dr. Sami bin Abdullah Al-Saleh visited here today the Governor of Algerian capital, Abdul ...

 May 26 2016 - Turkish flight to London makes emergency landing in BelgradeSaudi Press Agency
(MENAFN - Saudi Press Agency) BELGRADE, Serbia, Sha'ban 19, 1437, May 26, 2016, SPA -- Officials say a Turkish Airlines jet on a flight from Istanbul to London has made an emergency landing in ...

 May 26 2016 - Saudi- Team of King Salman Center for Relief delivers 200 tons of dates to MauritaniaSaudi Press Agency
(MENAFN - Saudi Press Agency) Nouakchott, 19 Sha'ban, 1437,May 26, 2016, SPA -- The team of King Salman Center for Relief and Humanitarian Aid handed over today the gift of the Custodian of the Two ...

 May 26 2016 - Finance Minister meets Sudanese Minister of InvestmentSaudi Press Agency
(MENAFN - Saudi Press Agency) Riyadh, 19 Sha'ban, 1437,May 26, 2016, SPA -- The Minister of Finance Dr. Ibrahim bin Abdulaziz Al-Assaf met here today with the Minister of State at the Ministry of ...

 May 26 2016 - Welcome to Happiness Island Resort, Abu DhabiMENAFN Press
(MENAFN Press) The new beach destination, Happiness Island Resort, situated two minutes from Saadiyat jetty via speed boats, hosted an exclusive media sneak-peek last weekend. The ultimate ...

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