development 28
Tracking regional deals
Right across the MENA region, deals are being brokered,
infrastructure is on the rise and developments are moving ahead
Infrastructure push Doha revisited Retail potential
Dubai Airports is planning to invest a Qatar is to invest US$5.5 billion to T_he 2009 Global Retail Development
further US$10 billion in new expansion redevelop the heart of its capital, Doha, Index (GRDI) from AT Kearney has
plans to keep up with increasing over five phases, with a final completion pegged Abu Dhabi as the rising retail star
international passenger volume in addition date of 2016. DOHALAND, a unit of the in the UAE. The report compares retail
to its earlier US$10 billion allocation for the non-profit Qatar Foundation plans to investment attractiveness among 30
construction of Dubai World Central. The rebuild a 350,000 square metre area of emerging markets, and the UAE rose 16
emirate of Ajman is also set to commence central Doha with several companies, places to fourth position this year behind
work on its new international airport already undertaking design work. India, Russia and China.
valued at US$3.3 billion, which will include
a free zone and commercial area, to be Issa Al Mohannadi, CEO of DOHALAND, The report noted that, while the UAE’s
operational by 2014. Aviation chiefs in said that companies doing design work population of five million is relatively small
Saudi Arabia have also announced plans for the first phase included Britain’s Allies compared to the countries taking the
to develop 13 domestic airports to meet and Morrison and US-based Burns & top three spots, it has the highest per
growing demand across the Kingdom. McDonnell, and several construction capita consumer spend of any of the 30
contracts have already been awarded for countries listed.
The development of a regional rail system the US$604 million first phase which will
is also a top priority, led by Dubai’s US$2.3 go live in 2012. Dubai is already on its way to having the
billion Light Rail Transport project, which world’s largest amount of shopping space
will launch this September. A 19-kilometre Funding for phase one has been provided per capita by 2010. Abu Dhabi’s future
railway in KSA is also set to link the holy by the Qatar Foundation and financing for appeal lies in the host of new attractions
sites of Makkah, Mina, Muzdalifah and future phases is currently under review. coming up such as Yas and Saadiyat Islands,
Arafat. Meanwhile, in Libya, a 352- as well as residential sector developments,
kilometre rail network will connect the “The main objective is to create an which are expected to boost both
cities of Khums and Sirts by 2012. endowment for Qatar Foundation that immigration and tourism numbers.
generates profit. We also want to create
Healthcare infrastructure is also a regional something Qatari rooted in the past and The Middle East retail market is also set
priority with US$12-16 billion being invested at the same time in tune with reality and to grow by 14 percent over the next four
across the GCC, and over 100 hospitals globalisation,” said Mohannadi. years according to a report by global market
in the planning stage. Centres under research company RNCOS. In its Middle East
construction include phase one of Abu The area will include residential units, offices, Retail Sector Forecast to 2013, it said that
Dhabi’s US$1.9billion Cleveland Clinic and hotels, schools, a tramway and other facilities. the regional retail industry had doubled in
the US$572million Mohammed bin Rashid al value to US$400 billion by the end of 2008.
Maktoum Academic Medical Centre in Dubai Phase one includes demolition of some
Healthcare City. In KSA, health infrastructure areas as well as the expansion of existing Bahrain’s Muharraq district will also
development is forecast to come only second government buildings. welcome a new retail development in Q2
to education and manpower in terms of 2010 with a US$50 million co-investment
CAPEX budget allocation in 2009. by Capinnova Investment Bank, the
Shariah-compliant investment banking
A recent report by the National Bank of subsidiary of Bank of Bahrain and Kuwait
Kuwait (NBK) noted that increased levels (BBK). Construction has already begun,
of spend across the region are also being and upon completion, it will be the largest
directed towards the development of human commercial mall in the area.
capital and education infrastructure.
PREVIEW Cityscape Dubai
Page 1  |  Page 2  |  Page 3  |  Page 4  |  Page 5  |  Page 6  |  Page 7  |  Page 8  |  Page 9  |  Page 10  |  Page 11  |  Page 12  |  Page 13  |  Page 14  |  Page 15  |  Page 16  |  Page 17  |  Page 18  |  Page 19  |  Page 20  |  Page 21  |  Page 22  |  Page 23  |  Page 24  |  Page 25  |  Page 26  |  Page 27  |  Page 28  |  Page 29  |  Page 30  |  Page 31  |  Page 32  |  Page 33  |  Page 34  |  Page 35  |  Page 36  |  Page 37  |  Page 38  |  Page 39  |  Page 40  |  Page 41  |  Page 42  |  Page 43  |  Page 44  |  Page 45  |  Page 46  |  Page 47  |  Page 48  |  Page 49  |  Page 50  |  Page 51  |  Page 52  |  Page 53  |  Page 54  |  Page 55  |  Page 56  |  Page 57  |  Page 58  |  Page 59  |  Page 60  |  Page 61  |  Page 62  |  Page 63  |  Page 64  |  Page 65  |  Page 66  |  Page 67  |  Page 68  |  Page 69