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AN AWARD-WINNING COMPANY WITH A LONG LIST OF SUCCESSFULLY COMPLETED PROJECTS THROUGHOUT THE KINGDOM OF SAUDI ARABIA
02 SAUDI PROJ3CTS CONTENTS SECTION
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CONTENTS SECTION SAUDI PROJ3CTS 03
EDITOR Rod Millington COMMERCIAL MANAGER Paul McNeill +971 050 5082702
Husam Y. A. Alhila Alex Griffin Kelly Heffey +971 50 452697 +44 1484 321000 +971 50 1138611
CREATIVE DIRECTOR Paul Roper GRAPHIC DESIGN Jamie Quarmby MULTIMEDIA DESIGN Michael Tully
PRODUCTION MANAGER Dan Hough PRODUCTION ASSISTANTS Vicki Whitehead 0044 1484 304254 Rachael Whiteley 0044 1484 344050
ACCOUNTANT MANAGER Kerry Finn ACCOUNTANT ASSISTANT Sadie Roberts
CREDIT MANAGER Katie Ridgwick 0044 1484 304254
Saudi Projects Magazine is published by The Planet Group (UK) Ltd. Company registered in England & Wales, number 3391408. All material is the copyright of The Planet Group (UK) Ltd. All rights reserved. Emirates Construction Magazine is the property of The Planet Group (UK) Ltd. This publication may not be reproduced or transmitted in any form whole or part without the written permission of a Director of The Planet Group (UK) Ltd. Liability: while every care is taken in the preparation of this magazine, the publishers can not be held responsible for the accuracy of information herein, or any consequence arising from it. In the case of company or product reviews or comments, these have been based upon the true and honest opinion of the Editor at the time of going to press.
04 NEWS SECTION 16 SAUDI MORTGAGES 18 ARABTEC SAUDI ARABIA
25 EMAAR MIDDLE EAST 38 SAUDI REAL ESTATE COMPANY (AL AKARIA) 40 EL SEIF ENGINEERING CONT. CO.
20 UNITED GULF STEEL
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04 SAUDI PROJ3CTS NEWS SECTION
EGYPT, SAUDI ARABIA INK $2.5M POWER GRID DEAL
Egyptian Electricity Minister Hassan Younes has said that Egypt and Saudi Arabia have signed a $2.5m contract with an unidentified company for work on linking their power grids, Bloomberg has reported. The company will study a route for the cable, which will be 1,300 kilometres (800 miles) long and have a capacity of 3,000 megawatts.
SAUDI CONSTRUCTION PIPELINE INCLUDES OVER 720 PROJECTS
The Kingdom of Saudi Arabia ’s current lineup of construction developments includes over 720 projects spanning the commercial, education, healthcare, leisure and residential segments and collectively budgeted at more than SAR 1.6 trillion. These account for more than 25 per cent of construction activities in the Gulf, making the Kingdom the region’s largest construction market. The growing anticipation for Saudi Build 2010, the 22nd International Construction Technology and Building Materials Exhibition, and Saudi StoneTech, the 13th International Stone and Stone Technology Show, affirms the heightened regional and international appeal of the Kingdom of Saudi Arabia’s construction and stone markets. Running simultaneously at the Riyadh International Convention & Exhibition Centre from October 18 to 21, 2010, Saudi Build & Saudi Stone-Tech are already 70 per cent booked and expected to draw thousands of professional trade visitors. Event organizer Riyadh Exhibitions Company has confirmed the participation of 42 national pavilions, with Belgium, Egypt, the UK, France and Taiwan joining for the first time and contributing to a 12 per cent increase in international participation. “Saudi Build 2010 & Saudi Stone-Tech 2010 are still a few months away and yet we have already received numerous inquiries and advanced confirmations. This is indicative of how Saudi Arabia has emerged as the leader in Gulf construction and property development. Last year the domestic construction business posted a real growth of 3.9 per cent amidst the crisis. Given the more positive outlook for the global economy this year we can expect even more local and foreign investments into one of the Kingdom’s strongest economic sectors, with Saudi Build 2010 & Saudi Stone-Tech 2010 serving as an important preview of construction opportunities,” said Shahid Bhatti, Project Manager of Saudi Build & Saudi Stone-Tech at Riyadh Exhibitions Company. Saudi Build 2010 & Saudi Stone-Tech
SAUDI ASKS FOR BIDDERS ON $1.5BN POWER PLANT
Saudi utility Marafiq has invited firms to bid to build a $1.5bn, 850 megawatt steam power plant in the Red Sea port of Yanbu, Reuters has reported, citing industry sources. The plant is to be fired with heavy fuel-oil or Arab light crude as a backup, according to one of the sources. The project is part of Saudi Arabia's push to increase power generation to keep pace with rising industrial demand.
SAUDI INVESTIGATES OIL SMUGGLING OPERATION
Saudi Arabian authorities have launched an investigation into a smuggling operation that illegally exported discount-priced oil to Europe for more than 11 years, Arabic Okaz has reported. A committee with representatives from the petroleum ministry, the interior ministry, Saudi Aramco and three other bodies are investigating the case. Unnamed companies had bought discounted oil under the guise of using it to produce chemicals domestically, but instead they shipped it to unidentified destinations in Europe, the paper said.
2010 form the biggest business-to-business construction event in the Gulf, and will gather exhibitors from Europe, Africa, the Middle East, and Asia. It will feature around 30,000 SQM of dedicated indoor and outdoor exhibition areas for stone, heavy machinery and construction equipment. It is the only construction trade show in Saudi Arabia accredited by UFI, the Global Association of the Exhibition Industry. UFI grants certification only to world-class professional events overseen by seasoned events organisers with proven track records in international exhibitions.
DEMAND FOR MORE HEALTHCARE FACILITIES IN THE MIDDLE EAST
construction and related supplies as an opportunity for expansion. MAPEI, a leading global manufacturer of adhesives, sealants and chemical products for buildings, aims to capitalize on the trend by highlighting its development of construction materials and products that have set industry benchmarks for safety and eco-friendliness. Its polyvinyl chloride (PVC) flooring installation solutions have become popular for their compliance with stringent international health and safety standards. For example, MAPEI’s Ultrabond Eco VS90 is a multi-purpose, acrylic adhesive in water dispersion with a very low emission level of volatile organic compounds (VOC), for bonding vinyl, rubber floor coverings and is used for bonding PVC or vinyl sheets or tiles on to all kinds of internal, absorbent and moisture stable substrates, making it ideally suited for hospitals, schools, research laboratories. Another essential, yet often overlooked component in the successful application and long term durability of PVC and other resilient flooring is of course self leveling underlayment compounds. MAPEI local produces the world renown Ultraplan range which can be applied in some cases up to 30mm in thickness where required. The Ultraplan range is available in different compressive and flexural grades in accordance with EN13813 along with low VOC primers of course such as the versatile Primer G. Recently ranked 25th among the 50 most influential construction suppliers in the GCC, MAPEI has committed to focusing on quality and safety as it aims to continue its expansion into the region compounded by a marked increase in manufacturing capacity.
SAUDI ARABIA AND FRANCE SET TO SIGN NUCLEAR PACT
Saudi Arabia and France are to sign a nuclear cooperation pact in order to develop atomic energy for peaceful purposes, Arab News has reported. The nuclear pact was first proposed by French president Nicolas Sarkozy in talks with King Abdullah in June 2007 in Paris, and the French side submitted a draft when Sarkozy visited Riyadh in January 2008.
SAUDI INVESTORS EYE STAKE IN BP
Saudi investors are seeking to buy a 10% to 15% stake in British Petroleum, Reuters has reported, citing a report by a local newspaper. A delegation of Saudi investors will be heading to London for direct talks with BP, the daily said with revealing its sources or names of the investors. Growing demand for investments into healthcare facilities and services is expected to transform the Middle East’s healthcare sector into a USD 60 billion industry by 2025. No other region in the world faces such a rapid growth in healthcare spending, and this growth is being considered by other industries such as
04 AUGUST 2010 WWW.TPG-MEDIA.COM
including around two million bpd in 2009 alone. squares. shops. auditors. The high profile undertaking. is part of manufacturer’s aggressive growth strategy in the region. supply. Upon its completion. with solvent-free ‘Jotafloor’ coatings to be used for the floors. The substation will be close to the financial centre and feed four smaller substations situated within the district. Jotun recommended its ’Fenomastic’ range for the structure’s interiors and ‘Jotashield’ for the exteriors. Both Saudi StoneTech and Saudi Build are already more than 70 per cent booked.8 million barrels per day (bpd) to the kingdom's crude output capacity. has signed a collaboration agreement with Italian VeronaFiere (Verona Trade Fair Company) and Italian MARMOMACCHINE Association to further boost international participation in the upcoming edition of the show taking place from October 18 to 21. a WWW. petrochemicals. PMV covers a total indoor and outdoor area of more than 5. Saudi Stone-Tech is an important partner event to the region’s largest construction trade fair. SAUDI OIL COMPLETES $100BN EXPANSION PLAN Saudi Aramco has said it has completed a $100bn investment programme launched over the past few years to expand the kingdom's hydrocarbon industry.TPG-MEDIA. In addition. granite and other ornamental stones as well as related machines. Envisioned as part of the Kingdom’s overall economic diversification program. the kingdom's national power transmission and distribution provider. SAUDI AWARDS $334M OF WATER CONTRACTS Saudi Arabia's National Water Co (NWC) has awarded nine contracts worth SR1. analysts. Italy and 11 abroad. Riyadh Exhibitions Company.025 million cubic metres of desalinated water per day. the international exhibition of stone design and technology. and will design.9m ($16m) engineering contract to a consortium led by consultancy WS Atkins International to build a power plant on the Gulf coast in Ras Azzour. Reuters has reported. with Omrania & Associates and Gensler & Associates acting as the project consultants.000 students. metres. which is scheduled for completion by the end of 2013. install and commission the installation as well as carry out the civil works. as well as financial institutions and other service providers such as accountants. A monorail system will serve as the main means of transportation within the development. The funds were channelled into oil and gas output capacity expansions. The plan is aimed at making full use of the Ras Al-Zour Water Desalination Station of Saline Water Conversion. which will held concurrently. The investment programme has added nearly 3.” said Mohamed Al Hussaini.NEWS SECTION SAUDI PROJ3CTS 05 RIYADH EXHIBITION COMPANY’S STONE-TECH SHOW SET FOR RECORD Riyadh Exhibitions Company (REC). the organizer of the International Stone and Stone Technology. and the Italian MARMOMACCHINE Association. announced that it has secured a massive contract to paint the ‘King Abdullah Financial District’ (KAFD).6 million sq. Show Saudi StoneTech.400 megawatts of electricity and produce 1. refining and associated projects. Deputy General Manager. consultants. and will have a total built-up area of 1. The move is expected to draw record participation from regional and international exhibitors and visitors. while skywalks bridges will connect all 30 buildings within the financial district. which is expected to pump nearly 800. is the PMV Series of the Saudi Build show. Jotun Paints. Saudi StoneTech will continue to be a gateway for local. ABB WINS $89M CONTRACT IN SAUDI ARABIA Saudi Electricity Co. recreational facilities. The project is expected to be completed in around 22 months. Italy ’s top trade show experts that annually organize MARMOMACC. “Through the support of VeronaFiere and Italian MARMOMACCHINE Association we expect to hold the most successful edition of Saudi StoneTech next October and further highlight the importance of Saudi Build as a platform for expanding the region’s construction business as well. it said. hotels.255bn ($334m) for projects in the first phase of a strategic water plan in Riyadh. sports arenas. regional & international companies to explore and engage in business opportunities within the lucrative Saudi market. RAS AZZOUR WINS $16M ENGINEERING CONTRACT Saudi Arabia's Royal Commission of Jubail and Yanbu has awarded a SR59. KAFD will house the Capital Market Authority (CMA) and the Stock Exchange (Tadawul). VeronaFiere conducts or hosts 37 trade shows a year in Verona.000 sqm has been allotted for Saudi Stone-Tech. The Ras Azzour power plant will have the capacity to generate 2. Aligned with both events.000 sqm dedicated entirely to displaying the latest construction heavy machinery and equipment. the state-owned firm said. The Italian MARMOMACCHINE Association. Joint local and South Korean consortiums have won four contracts worth SR642m while other national companies won five contracts worth SR613m. and IT providers. a technical and promotional organization for Italy ’s stone and allied industries. With aims to protect the structure from the elements and natural wear and tear.000 cubic meters of water per day. ABB is responsible for the turnkey delivery of a 380/132/13. Saudi Build 2010 – The 22nd International Construction Technology and Building Materials Exhibition. one of the world's leading producers and suppliers of paints and coatings. has awarded ABB an $89m contract to build a new substation to ensure reliable power supplies for the King Abdullah Financial District in Riyadh. waterways. Saudi Arabia. which will involve paint work on the 3 million sq. metre-financial centre. KAFD is being built by Hill International. tools and equipment. Saudi press agency has reported. rating agencies. 2010 at the Riyadh International Exhibition and Convention Centre. VeronaFiere . parks. NWC said. will lend their expertise to boost international interest in the booming stone and stone technology sector in Saudi Arabia and GCC countries.8 kV (kilovolt) substation. A dedicated hall occupying more than 3. the project will also accommodate a financial academy for 5.COM AUGUST 2010 05 . JOTUN WIN CONTRACT TO PAINT ‘KING ABDULLAH FINANCIAL DDISTRICT’ state-of-the-art and fully self contained centre for doing business and facilitating investment and enterprise currently under construction in Riyadh. offices. on the other hand. includes around 250 members who are manufacturers of marble. lawyers. restaurants and six mosques including.
000 sqm of prime exhibition space. The campus will include an administration building. which will be one of the largest universities in the Middle East. ABB Saudi Arabia.27% as the main index closed at 6.117. which will occupy 10.24m ($8.COM .” Once completed.56m in the same period a year ago. SABIC'S Q2 PROFITS SUFFER DROP Saudi Basic Industries Corp (Sabic) has said its Q2 net profit rose 177% to SR5. the university campus will be eight million square meters in total.06 SAUDI PROJ3CTS NEWS SECTION SAUDI ARABIA REFINERIES TOP TADAWUL EXCHANGE Riyadh saw its Tadawul exchanged weakening by 0. several laboratories. “We’ve witnessed increasing demand for smart building solutions in Saudi Arabia. “The wait is almost over. “Buildings which have implemented ABB’s KNX technology have reported energy savings of up to 40%. and deals. conference centers. higher feedstock cost. up from SR29.” revealed Ali Nazzal. The listing prospectus showed Al Jouf will use SR171.23m in the three months to June.04m a year earlier. the leading power and automation technology group. has won an order from Saudi Oger to provide its KNX intelligent building control system to Princess Noura Bint Abdulrahman University. “ABB is proud to be a part of the new campus for Princess Noura Bint Abdulrahman University project. KNX is a global standard for home and building automation control. The company attributed the reduced profitability in the second quarter to a decrease in the prices of major products.2m a year earlier due to "lower prices and falling demand". Governor of Jeddah.81bn for the same quarter in 2009.00. More than 40 CEO-level speakers will discuss vital industry issues during the event.3bn) compared to SR1. 15 academic faculty buildings. while over 200 senior-level delegates will join 12 special panel sessions.29% to SR67. Shares of Saudi Arabia Refineries Company ended up 2. but 8% lower compared to the first quarter of 2010. developers and service providers are set to exhibit at the event.00.’ Many featured projects are linked to the comprehensive 20-year redevelopment programme being implemented by the local government which will involve development and rehabilitation work on Jeddah’s central and historic districts. Cityscape Jeddah’s 2010 programme includes the annual Saudi Arabia Real Estate Investment and Development Conference. Investment Models and Future Partnerships. SAUDI ARABIA’S FIRST ‘GREEN’ CAMPUS ABB. slightly recovering from ist free fall in May when shares lost 27% within a few weeks. Final preparations are being made for the opening of the 2010 edition of Cityscape Jeddah. CITYSCAPE JEDDAH 2010 SET FOR JUNE 7 OPENING Chamber of Commerce and Industry.” SAUDI ARABIAN MINING REPORTS INCREASE IN NET PROFIT Saudi Arabian Mining has reported a net profit of SR31. ABB Saudi Arabia. where top performers in the local property sector will be honoured. located adjacent to King Khaled International Airport. expert consultations and information exchange. and higher prices of raw-materials for Hadeed products. Director of Cityscape Jeddah. which started operations in May. Cityscape Jeddah 2010 will reflect the vibrancy of the Kingdom’s real estate and construction markets. Saudi Arabia’s leading real estate investment and development event. The first night will also feature the 2nd Cityscape Awards for Real Estate in Saudi Arabia.’ The conference will have a more interactive format that will facilitate a greater number of Q&A sessions.5% of the IPO's proceeds will go to founding shareholders including KSB Capital Group. which plans to build the world's biggest fully integrated aluminium complex with US firm Alcoa. which will run from June 7 to 9. designed to increase comfort and energy efficiency. senior sales and operation manager for Smart Home and Intelligent Building Controls.5m of the proceeds to repay debt and SR100m to repay unspecified general costs.78% at SR37. exhibitors.8m from SR148. As in the UAE. which will be held under the theme ‘Transparency. ABB’s KNX-based technology will allow university facility management to automatically and remotely control lighting and shading through one single interface. which is also acting as the financial adviser for the listing along with state-run National Commercial Bank. Cityscape Jeddah 2010 is expected to revitalize Jeddah’s role as the Kingdom of Saudi Arabia’s ‘Gateway City. Reuters has reported. More than 100 local and regional property investors. as the firm reported a second-quarter profit decline to SR135. As the first green building campus in Saudi Arabia. said that profit in the first six months was driven by lower Islamic tax payments compared to 2009. 2010 at the Jeddah Center for Forums and Events.02bn ($1. Jeddah alone offers numerous investment and development opportunities through its strategic plan to build almost a million units by 2030. enabling significant reductions in energy usage. A National Strategy being planned to open up more housing opportunities for the low and middle income brackets is also expected to influence another property boom. JOUF CEMENT'S $173M IPO FOR LOAN Saudi Arabia's Al Jouf Cement Co plans to sell new and existing shares to the Saudi public to raise SR650m with over half of the proceeds going to the founders of the firm. “As electricity consumption increases by eight percent year on year there’s a need for such technology which will enable Saudi to become a more energy efficient country. supported by the Jeddah 06 AUGUST 2010 WWW. Approved by the Ministry of Commerce and Industry. and soon the region and the world will have access to the top business prospects within the lucrative Saudi property market via Cityscape Jeddah. with approximately three million square meters of built-up area.21 points. About 55. Quassim Cement extended its losses from Saturday and dipped 4.3m) for the second quarter of 2010. low voltage products business unit manager. building and construction shares performed weaker. ABB’s intelligent building control system will be implemented in all the buildings at the university’s new site.TPG-MEDIA. We have put everything into place to make this a highly successful edition. as well as a state-of-the-art 700-bed hospital. compared to a net loss of SR6. Reuters has reported. a central library. Saudi Oger and ABB worked closely to provide a solution that would increase comfort levels and significantly reduce energy consumption. Operating profit was SR39. Saudi Oger is one of the main contractors for Princess Noura Bint Abdulrahman University which aims to be one of the leading female educational institutions in the region. and under the patronage of HRH Prince Misha’al Bin Majed Bin Abdul Aziz.” said Deep Marwaha. not only because of increased energy savings but also due to a desire for technology that automates basic functions such as lighting and shading.” said Adel Jaber. The firm. we believe that Princess Noura Bint Abdulrahman University will further the drive for significant cost savings and a lower carbon footprint in the Kingdom’s construction sector and be a benchmark for other universities looking to establish green campuses of their own. and the strong response we have received so far indicates that the show will be pulling in record numbers in terms of attendance.
Ziad Bin Mahfouz. and healthcare in the east. in which Sabic has a 51% stake. and long term loyalty. The Saudi Binladin Sukuk Co. issued the sukuk. due to higher production and sales. Our global expertise includes not only the tall buildings segment. He added that the upcoming initiatives would reflect the Group’s deep understanding of the challenges and intense competition posed by the local and international markets. Kadhi. used in making polyurethanes. and Elaf Al Masha’er. Bin Mahfouz voiced the Group’s keenness in implementing major efforts that contribute to raising the quality of its services and hospitality products.COM AUGUST 2010 07 . The firm will offer 12 million shares. malls and retail. CEO of Elaf Group. as represented by Dr. which was more than 2. The company will provide 100. due to higher production and sales. a leading Sharia-compliant investment management company. “The Group was involved in a partnership with one of the largest hotel management companies in the world for several years. We shall continue to provide our individual and group customers at the local and international levels with the best quality services. or 30% of its capital. in which Sabic has a 51% stake. central. RED SEA GATEWAY TERMINAL RECEIVES NEW CRANES Saudi-based Yanbu National Petrochemical (Yansab) has posted SR502. Our clients have come to appreciate our integrated service offering of all our international lines of expertise. the supply chain. As one of the oldest and largest consultancy firms in the world in the fields of vertical transportation. to the public over the October 4-10 period. Operating profit reached SR596.We are currently working on establishing and operating additional hotels across the country and obtaining authorization from more international airlines. Lerch Bates Inc. New projects include CMA and Tadawul Towers in King Abdullah Financial District. residential. recently observed the workflow of three Elaf Hotels operating in Makkah. hospitality field as an effective instrument for realizing leadership.4m ($134m) in net profit in its first full quarter of commercial operations. Elaf Kinda.000 metric tonnes annually of feedstock for the production of 120. which would highlight the service-oriented nature of the business. This includes iconic projects such as the Kingdom Tower and Al Faisaliah Tower. architectural firms and project management teams in the Kingdom. As we look into the future. The visit aimed to ensure that hotel operations complemented Elaf ’s commitment to providing excellent services according to the highest quality standards. but currently we have projects in hospitality.5 times oversubscribed. and other projects that are still in the design phase. Kadhi. Bin Mahfouz further emphasized the Group’s focus on excellence in the hotel and SAUDI BINLADIN GROUP ISSUES SUKUK The Saudi Binladin Group issued a SR700m ($187m) Islamic bond on July 12 through a private placement to Saudi investors. Reuters has reported. PetroRabigh said without giving a value for the deal. Reuters has reported. and materials management materials handling we have been involved in projects within the Kingdom for a significant number of years. has total annual production capacity of 4 million tonnes of petrochemical products. environmental services amongst other services.TPG-MEDIA. Sufi and Dr. Reuters has reported. YANSAB POSTS $134M PROFIT Saudi-based Yanbu National Petrochemical (Yansab) has posted SR502. Chairman of the Elaf Tourism. the prospects are strong for an expansion of our work and presence with many developers.NEWS SECTION SAUDI PROJ3CTS 07 SEDCO TEAM INSPECTS WORKFLOW AT ELAF HOTELS A delegation from Saudi Economic and Development Company Limited (SEDCO).04m in the quarter. lead manager HSBC Saudi Arabia said. namely. A recently awarded hospital project in Jeddah involved providing our extensive experience to the architectural team on waste management. Bin Mahfouz also noted that the visit confirmed the commitment of both SEDCO and Elaf. has total annual production capacity of 4 million tonnes of petrochemical products.4m ($134m) in net profit in its first full quarter of commercial operations. With the WWW. Reuters has reported.000 metric tonnes of polyether polyols. customer satisfaction. The inspection team included Dr. Yansab. and in the west of the Kingdom. a subsidiary of SEDCO. Through our visionary management and highly motivated specialized staff. LERCH BATES EXPANDS BUSINESS IN THE KINGDOM OF SAUDI ARABIA changing economy Lerch Bates has seen continued growth in its projects base in the Kingdom of Saudi Arabia to the point that the Kingdom has now become a significant contributor to the overall revenue base of activity for the entire Middle East region. CEO of SEDCO Holding. Dr. façade access. and Mr. Adnan Sufi.Yansab. Travel and Hotels Group. we were able to develop our internal skills and meet the challenge of managing our hotels on our own. “We look forward to further enhancing the tourism sector and reinforcing its GDP contribution in line with the Kingdom’s long-term strategy of minimizing its dependence on oil as a revenue source and implementing its economic diversification policy on a broader scale. Elaf Al Khalil. has had a presence in the Middle East for many years. to continue the leadership journey the group began around 25 years ago.” he concluded. loading dock design. EASTERN PROVINCE CEMENT Q2 PROFIT UP 1% Saudi Arabia-based Eastern Province Cement has reported that its second-quarter profit increased 1% to 104 million riyals from the year-earlier period.” said Dr. AL-KHODARI APPOINTS GIB FOR IPO Saudi contractor Al-Khodari and Sons has appointed a unit of Gulf International Bank (GIB) as the lead manager for its initial public offering (IPO) due in October. PETRORABIGH AGREES FEEDSTOCK DEAL Saudi Arabia-based PetroRabigh is to supply petrochemical feedstock for a new plant being built by Saudi Advanced Industries and Tasnee. Suhail Kadhi.
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10 SAUDI PROJ3CTS NEWS SECTION SAUDI ARABIA AND FRANCE SET TO SIGN NUCLEAR PACT Saudi Arabia and France are to sign a nuclear cooperation pact in order to develop atomic energy for peaceful purposes. The very top end of the London residential market showed greater growth in Q2 of 2010 over Q1 thanks to a strengthening dollar and increased activity from Middle East investors. Juffali formed partnerships with Dow Chemical. Reuters has reported. A. “With the majority of Savills UK web visitors living within the GCC.4m) from SR500. In the field of chemicals. investors from the GCC will save a cool £1 million on a property priced at £6 million. The company said in April the complex's main facility.5%. YAMAMAH CEMENT Q2 PROFIT CLIMBS 16% Yamamah Saudi Cement Co has said that higher sales helped raise second-quarter profit by 16%. tractors and agricultural equipment with Massey Ferguson. E. which average £15 million and above. SAUDI SIPCHEM Q2 PROFIT SOARS Saudi International Petrochemical Co (Sipchem) has said its second-quarter net profit jumped almost 19-fold to SR87. insurance with Munich Reinsurance. It has climbed in recent weeks fluctuating around the $1. the complex is to have an annual production capacity of 6 million tonnes of petrochemicals including ethylene. land line and mobile phones with Ericsson. Juffali continued to involve itself in various pursuits such as petroleum well drilling collaborating with Pool. MID-EAST INVESTORS SAVE £1 MILLION ON LUXURY LONDON HOMES services firm Asteco. the sources said. Comparing exchange rates year-on-year. cables welding with Raychem. Aramco has given no cost estimate for the Wasit plant. air conditioners. and the contract will probably be awarded in January. DuPont and others. “Over the past year sterling peaked at $1.5% from peak.43 in May this year. and values remain –15. International buyers are the lifeblood of this market sector.COM . The nuclear pact was first proposed by French president Nicolas Sarkozy in talks with King Abdullah in June 2007 in Paris. Juffali became involved in various commercial fields. propylene and ethylene glycol. Bloomberg has reported. others. suggesting a resilience that is based almost exclusively on low stock levels and the sector’s appeal to international buyers. accounting for 63% of all prime central London buyers. on purchases of £5 million and over. grew by 1. Reuters has reported.A. heavy equipment used in road works. while in cooling. it formed links with Carrier.A NAME ASSOCIATED WITH QUALITY The corporation was established in 1946 by the three sons of Abdullah Juffali: Ebrahim. as well as cleaning equipment imported from Karcher. heat insulating materials.000 in the same quarter a year ago. Juffali stepped forward to the field of commerce by obtaining the sole agency in the kingdom of Saudi Arabia for some of the largest international firms that are pioneers in their fields.3% and are now just 5. tyres with Michelin. sinks & hard surfaces and cable welding material. Ali and Ahmed. computer with IBM. communications and cement. It then moved on to manufacturing some of the products that it had imported. Net profit rose to SR192m from SR165m in the yearearlier period. Bidding is to close by September 29. but industry sources said it would cost between $6bn and $8bn. industrial adhesives. we are expecting a steady flow of enquiries from prospective investors throughout the region over next few months. Sipchem said. it is easy to understand the pressure sterling is under.7m ($23. i. an ethylene cracker. and the French side submitted a draft when Sarkozy visited Riyadh in January 2008. Kelvinator and Electrolux.e. but that is on the basis of a delayed recovery (following later falls). according to major regional and international real estate 10 AUGUST 2010 WWW. SAUDI KAYAN TO BEGIN NEW COMPLEX OPERATIONS IN Q3 Trial operations at the main units of Saudi Kayan Petrochemicals new complex are expected to start in the third quarter of this year. technical equipment used in workshops with Bosch and ARAMCO INVITED WASIT PLANT BIDS Saudi Aramco has invited companies to bid for the construction of the biggest gas plant in the kingdom. would start operations in the second half of this year with other units to follow slowly through in 2012. Analysts now expect the agreement to be inked during the upcoming state visit of King Abdullah to France. Activities extended to transportation and freight inside and outside the Kingdom through associations with K_hne & Nagel. prefab steel building with Butler. In the field of industry. refrigerators. Juffali established a number of plants through licenses that were acquired from the manufacturing companies for the production and assembly of trucks. air-conditioning and maintenance. E. steel buildings.9 billion (11% of GDP) this year alone and interest payments next year of £42 billion. Head of International Investment at Dubai-based Asteco. These high net worth individuals have rebuilt their wealth by around 20% over the past year. printing with Heidelberg. JUFFALI & BROTHERS .” said Richard Angel. which average around £5 million. projects establishment with Fluor.69 in August 2009 and has steadily declined against the dollar to a 12 month low of $1. Juffali also established a training center qualifying Saudi youths for certified degrees that enable them to seek job opportunities in the private sector or join the company’s plants and various utilities within the saudization program. Juffali & Brothers began its business by venturing into the fields of electric power. rose by 1. Arab News has reported. cars & trucks with Mercedes-Benz.TPG-MEDIA.” added Angel. Ultra prime properties. since 2006. Reuters has reported. as well as many others.8% from peak.50 mark. tractors. medical equipment with Siemens. Higher production of methanol and butanediol combined with improved prices were behind the profit rise. the company said in a statement. loading & off loading with Liebherr and Demag. Located in Jubail. However with the UK’s national debt of over £1 trillion growing by £167. auto parts & accessories with Bosch. The latest analysis from property adviser Savills – Asteco’s UK partner – found super prime properties. citing industry sources.
Abu Dhabi and Egypt. Ethan Penner. assessing economic outlook and how the region is faring compared to the rest of the world. Three prominent global investors will also go head-to-head pitching for the securest location or strategy for investing US$100 million. installation of signal systems and telecommunications as well as the procurement of rolling stock and equipment. Day two of the conference will be dedicated to examining growth in the MENA (Middle East North Africa) regional markets. risk-adjusted returns and exit strategies for international expansion.” he said. emerging and frontier markets and the opportunities. WWW. Executive Director. delivering the keynote presentation will be Sam Chandan. The Real Estate Investment Conference will run in parallel with the World Architectural Conference and both conferences run alongside the Cityscape Global exhibition. Chairman and CEO of Colony Capital a private equity real estate company headquartered in Los Angeles. Jeddah Islamic Port alone could increase capacity by 30% to 35%." Saad al-Barrak. Chinappi. in particular.000TEU stacking yard to 8 QC and 26 RTGs. exceeding 7 million customers. performing assets have delayed the process of price discovery that is a necessary condition for the global real estate market’s return to its full measure of health. MD & Chief European Economist.The list of projects includes building five ports. three airports. The contract will include construction of railway tracks. It will also cross reference the investment potential and returns from hospitality. Global Chief Economist. Naresh Naik. 2010. France. will be the ninth year that a Cityscape event has been held in Dubai and Cityscape Global will be an integral part of the largest business-to-business real estate investment and development brand in the world. Standard & Poor’s. Founder. certain government policies. the new cranes bring the total number of cranes currently serving the gateway terminal's four berths and 50. Specifically the sessions will focus on the potential regional economic powerhouses. down from 857 million riyals a year earlier. "SRO has announced that Al-Rajhi Alliance and Al-Shoula consortium have submitted their technical and financial offers to Saudi Railways Organization. at Jeddah Islamic Port (JIP). The keynote address will be given by Thomas J Barrack Jr. Brian D. It will also include infrastructure maintenance for the project for 12 years." he said. Cityscape Group Director. The firm made a net loss of 632 million riyals in the second quarter. and Jean-Michel Six. He will be speaking about ‘Driving international investment in challenging times’.TPG-MEDIA. “In real estate markets.” said Chris Speller. such as Saudi Arabia. financing options. Global Head. RED SEA GATEWAY TERMINAL RECEIVES NEW CRANES Saudi Arabia's Red Sea Gateway Terminal (RSGT). including. who will assess the prospects for sustainable global economic recovery and forecast economic trends for 2011 and beyond. SAUDI ANNOUNCES $100BN TRANSPORT PLANS Saudi Arabia's General Investment Authority (Sagia) has unveiled plans to spend $100bn on developing 19 transport projects over the next 10 years. which takes place at the Dubai International Convention and Exhibition Centre on 4-6 October 2010. "The gross profit margin rose to 42 percent against 19 percent for the same period in the previous year. During his time as chairman. three major highways. as well as examining Islamic ZAIN SAUDI'S Q2 REVENUES DOUBLED Zain Saudi Arabia posted its lowest quarterly loss since it started operations two years ago. Zain Saudi's chief executive said in a statement. A number of world-class speakers will make the journey to Dubai for the conference. SAUDI RAILWAY PROJECT RECEIVES BIDDERS Saudi Railways Organization has said that France's Alstom and its national railway operator SNCF along with Spanish firm Talgo are among the bidders for a 450 kilometre railway in the kingdom. Manufactured by Zhenhua Port Machinery. Hong Kong.” he said. Other issues to be addressed on day three include a comparison of developed. constraints on the availability of credit." the organisation said in a statement. "The reason of the decrease in the secondquarter's net loss is the wider customer base which rose noticeably during the second quarter. the Middle East and Africa and populism is deteriorating the competitive advantage of the developed world. Meed has reported. Reuters has reported. investment security and regional growth provide the theme for this year’s three-day Cityscape Global Real Estate Investment Conference. Standard Chartered. Reuters has reported. and finite opportunities for liquid investors to acquire high quality.NEWS SECTION SAUDI PROJ3CTS 11 RISK APPETITE FOR GLOBAL INVESTMENT IN FOCUS AT CITYSCAPE Global opportunities. Principal Finance Real Estate. rules and regulations. Real Capital Analytics and Adjunct Professor of Real Estate from the US-based Wharton School. Relationships and trust will return as key attributes of investment acumen. The financial world is in frenzy for yield as a result of zero per cent interest rates and a total abandonment of risk premiums. California. Barrack has invested approximately $45 billion in assets. Following Barrack. This is a good time to be patient and stick to what you know. has received two quayside container cranes and six tandem lift gantry cranes (RTGs). three railways. Managing Director. India. “Capitalism is soaring in Asia. President and founder of CBRE Capital Partners. Morgan Stanley. But this conference will guide delegates through the bureaucratic maze and offer practical updated and relevant information to institutional and private investment firms as well as high net-worth individuals. This year. infrastructure and residential property. Sagia said it also plans to increase the kingdom's ports capacity and attract port operators. “Investing overseas is often difficult when faced with fluid and complicated investment and tax regimes. and five logistics centres.COM AUGUST 2010 11 .
transport. a subsidiary of Sabic. industrial. two in Oman. has said it will seek loans and funds from shareholders to cover an expected 24% rise in costs of its Jubail petrochemicals plant to prevent any delay in completion dates. This follows the opening of the first ‘Danube BUILDMART’ branch at in India. “We have already made massive investments toward additional manufacturing hubs to boost our production and sufficiently address the expected rise in demand. Dubai. building materials and shop fitting industries. Meed has reported. taking a holistic approach to sustainability which is particularly important in the challenging climate of the Middle East. expansion programme. in Qassim Province in the centre of Saudi Arabia. which is reflected in their designs for all project types including. feet. installed in an actual home setup to allow customers to enjoy a more personalised shopping experience with excellent service and design assistance. we are expecting the demand for building materials in the Middle East and Africa to witness a significant increase this year. lifting columns for the carbon electrodes and currentconducting electrode arms. The project comprises of an aluminium smelter and a rolling mill. Once complete.000 sq.COM . providing international expertise combined with a deep knowledge and understanding of local cultures. AEDAS OPENS IN RIYADH Aedas continues its MENA expansion. hospitality. healthcare. The company has also invested AED 50 million in a new 1. Electric Arc Furnace No 1 in Hadeed's steel works in Al Jubail will be fitted with a new hydraulic system. with later phases including a bauxite mine. Dubai and Riyadh. The smelter will be developed in Ras al-Zour. The office will be expanding in market sectors including masterplanning. and now our focus is to establish highly convenient ‘Danube BUILDMART’ stores in the most strategic locations within our target regions. civic. 'Danube BUILDMART' in Ibn Battuta Mall offers products from a host of reputed international and regional vendors under a single roof. the complex will have a refinery with capacity of 1.” Danube has also recently launched an AED 15 million 'Danube BUILDMART' in Ibn Battuta Mall. “Staying true to our commitment to being the pioneer in the industry. which marked the leading company’s 22nd global store. commercial. offering 12 AUGUST 2010 WWW.” said Rizwan Sajan. An integrated automation solution based on Simatic S7 will also be installed in the Al Jubail works. Bahrain. Danube transformed into a one-stop shop concept called ‘Danube BUILDMART’ in 2009. which will be functional by early 2011. a unit of Sabic. Doha. opening it’s 39th office in Riyadh. Spanning an area of 15. SAUDI KAYAN SAYS COST OF CHEMICALS COMPLEX MAY RISE 24% Petrochemical firm Saudi Kayan. The facility.TPG-MEDIA. the company revealed that it expanding to Qatar and other parts of Saudi Arabia and Oman.8 million tonnes a year (t/y). has awarded Siemens VAI Metals Technologies a contract to modernise its electric arc furnace. Saudi Arabia and two in India as well. Charles Collett. has commissioned a state-of-the-art manufacturing facility within its Jebel Ali Free Zone (JAFZ) logistics facility. now includes a plastic manufacturing facility capable of producing up to 8000 tonnes of plastic disposable products per year.8bn aluminium project. retail. education. Aedas will open further offices in the Kingdom. part of a three-year. which the company hopes to grow to 16 branches by 2010 through the AED 200 million expansion plan it has embarked on since the second quarter of this year. Danube Building Materials. “With the global economy approaching the recovery phase and investors starting to regain confidence in the regional market as a result of massive government actions to revive the construction and real estate industries. The Kingdom of Saudi Arabia has much to offer both in terms of development and culture and we are very pleased to now reside and be part of the community here. has announced its expansion plan that aims to penetrate the Africa market and strengthen its presence in the Middle East through dealer and franchise networks. “We are enthusiastic about the Aedas office opening in Riyadh. Aedas are committed to improving the natural and MAADEN TO MEET LENDERS OVER $10. Danube Building Materials. one each in Bahrain. Including its non‘BUILDMART’ stores. we are taking major strides to acquire major market share thought the MENA region in the next five years. hotels & resort. where it currently has one of its major manufacturing plants. which is a new concept pioneered by the company. Driven by the significant growth it has witnessed in the recent years. Specifically. As part of their continued expansion. KSA Aedas is the leading architectural practices in the world. with offices in Abu Dhabi. Danube recently announced that it is looking at an initial public offering (IPO) listing in Saudi Arabia or the UAE within the next 5 years. a 740. The project is designed to be a sustainable and eco-friendly oasis in Jeddah. Initially established as a building materials supplier. civic and sports projects and will be led by Country Manager. healthcare. $22m. there are a total of nine ‘Danube BUILDMART’ stores in operation. SIEMENS TO MODERNISE SAUDI IRON ARC FURNACE Saudi Iron and Steel Co (Hadeed). sports and transport projects. highly experienced senior staff will be located in Riyadh and Jeddah to serve projects throughout the Kingdom. Chairman. Today.12 SAUDI PROJ3CTS NEWS SECTION PHASE THREE OF AL BAYADER EXPANSION GOES LIVE Al Bayader International. re-affirming our efforts in the region. as well as in China. The project is scheduled to be finished in the fall of 2010. Aedas have over 150 highly qualified staff in the Middle East. the company has a total of 22 global retail facilities – 16 in the UAE. residential. manufacturer of comprehensive packaging solutions. built environment. Supported by their Middle East hub office in Dubai. Bloomberg has reported. Kingdom of Saudi Arabia. thereby marking its third retail branch to be based within a mall.” concluded Sajan. education. Their designers are committed to contributing and leading in the societies for which they design.000-t/y smelter.” Charles Collett – Country Manager.3 million square feet manufacturing facility in TechnoPark. In 2009 Aedas celebrated their win of ‘Best Urban Design and Master Planning’ at the Cityscape Saudi Real Estate Awards for the ‘New Jeddah’ mixed-use commercial and residential development. We believe that this is the perfect time to expand to be able to place ourselves in a strategic position to fully leverage the opportunities once the market fully recovers. the leader in construction. DANUBE OUTLINES GLOBAL EXPANSION FOR ‘BUILDMART’ BRAND products from a host of reputed vendors as well as expert product and design advice under a single roof. The company also said it started the trial run of its olefins plant at the complex. with the next office planned in Jeddah.8BN ALUMINIUM PROJECT Saudi Arabian Mining Co (Maaden) and Alcoa have met with lenders in Dubai to work on the documentation for the financing of its $10. with the bauxite mine and refinery at Zubairah. and a 4 million-t/y bauxite mine.
incorporating such specialisms as dredging and construction of the shoring side (rock protection of 15. pre-engineered building. Instead. construction of a 300m2 precast building. structural steel works. procurement and marina work. manufacture and erection of pre-stressed hollow-core slabs for an area of 62. sidewalks. but also with their clients and suppliers. THROUGHOUT BOTH THE KINGDOM OF SAUDI ARABIA (KSA) AND OTHER COUNTRIES IN THE GULF REGION. In Aziziah. general infrastructure. These include Mina General Hospital and Health College. which are not descriptions of the work it carries out or the strategies it employs to accomplish its mission.TPG-MEDIA. and has carried out many important and prestigious projects. LTD. operation and maintenance services. these values underlie the GCS’s work. kerbstones. GCS’s expertise was called upon for a wide range of disciplines within construction and procurement. including skeleton. 1. ground beams and ground slabs. earthworks. a 500-bed facility at Makkah Al Mukarammah. and design.000m2. excavation. columns. Whatever your challenge. and the construction of manholes. LTD. EXPERIENCE AND PROFESSIONALISM THAT HAS SET A NEW BENCHMARK FOR THE INDUSTRY.3m in depth).9. therefore. This stunning development called for a broad spectrum of design. in addition to the construction of 75. pipe sleeves and culverts. GCS has become an important partner in the booming infrastructure development of KSA. and GCS offers a service with proven expertise and tested reliabilities that lead to an ever-growing 14 AUGUST 2010 WWW. Al Khobar. integrity and transparency are included as standard. GCS has successfully completed a very different project. GCS believes in forming strong relationships and partnerships. GCS CAN DELIVER A COMPREHENSIVE PORTFOLIO OF SERVICES ACROSS A WIDE RANGE OF SECTORS. (GCS) HAS BEEN DISTINGUISHING ITSELF FROM ITS COMPETITORS BY PROVIDING A LEVEL OF SKILL. EVERY PROJECT EXPERTLY MANAGED FROM BEGINNING TO END Because of its enlightened approach to business.0 and 1. QUALITY RESULTS WHEN WAS THE LAST TIME YOU FELT INSPIRED BY YOUR CONSTRUCTION PROVIDERS? WELL. people and resources to allow it to create practical. cost-effective and innovative solutions … every single time! At the heart of the company’s success lies its core values. and through this it gains a clear understanding of its clients’ goals and objectives and develops solutions that will meet and often exceed expectations.COM . procurement and construction. ready mix concrete. while still providing best value. installation of water and sewer lines. Here. It takes total commitment to ensure the success of a premier project such as Zomorod Beach Resort. prefabricated office and accommodation buildings. insulation. taking in general engineering. INSPIRING PERFORMANCE. electromechanical works. INCLUDING GOVERNMENT.000m2). SINCE 1978 GULF CO-OPERATION SYMBOLS CONTRACTING CO. civil works. the Al Zomorod Beach Resort. Honesty. GCS’s expertise is far-reaching. INDEED.000m2 road works. GCS has the knowledge.14 SAUDI PROJ3CTS GULF CO-OPERATION SYMBOLS CONTRACTING CO. construction of continuous footings (0. pipeline works. and catering a medical services. how management and employees interact not only with each other.
the Sadeen Group. DIVERSITY. such as engineering consultancy. VAST RESOURCES AND A CARING APPROACH GCS enjoys the support and resources of its parent. its workmanship. and the supply and maintenance at site of spare parts for a period of 33 months. water. analysing the project. daily refreshments and laundry services. everything comes down to the strength and trust of it relationships. mosque and laundry buildings. Separately. offices (including company and contractor main site office). The contract also included the construction of a steel structure warehouse and complete site development. anticipating complications.gcscontracting. Its staff will be more than willing to accommodate your enquiry. save money and provide the best value for the client. and attention to detail reflect that. and reliability are the hallmarks of GCS. Jordan. management and execution. GCS undertook the construction of permanent accommodation facilities at Qurayyah Plant. and the third. GCS recognises the importance of planning health. quality. QUALITY AND RELIABILITY GCS routinely proposes suggestions to improve quality. erection. All units were fully furnishing and incorporating air conditioning systems. material procurement. ensuring that the client gets exactly what they require. The scope of works for Saudi Aramco encompassed the construction of 4000m2 of prefabricated units. which will keep you informed of all of GCS’s news and projects. the second. but one that GCS carried out with practiced ease. and is supported by an invaluable balance of creativity and practicality. and other facilities located throughout the Gulf. warehouse and other facilities. The first defines its capabilities.com. every contractor’s most precious asset and it is clear that GCS are willing to earn every last part of that respect. they effectively characterise the company. satellite office. as always. and safely – all aims shared by GCS. though. As with most things in the construction sector. The company’s managers study new jobs thoroughly. Together they enable the company to provide clients with quality-conscious. contractor. and supplier. with the company making safe working conditions for all of its employees. it is committed to completing projects on time. expedite project completion. You are also encouraged to visit the website.TPG-MEDIA. GCS believes in putting the client first. client. civil works. First and foremost it has a strict policy of ‘zero accidents’. Indeed. Diversity. cost-effective project planning. quality. to the highest standards of workmanship. devising strategies.COM AUGUST 2010 15 .GULF CO-OPERATION SYMBOLS CONTRACTING CO. The address you need is www. housekeeping. included detailed engineering and provision of all necessary permits and approvals. They draw on the advice of experts within the company and beyond when there are complex technical problems to solve. The TR temporary camp facilities and services at the Hawiyah Gas Plant Expansion for Saudi Aramco (Tecnicas Reundias) is another excellent example of this. subcontractors and the public a priority. disciplines that are not within the expertise of many construction companies. These were of high specification and included support buildings. Each project is efficiently managed from beginning to end. which for over 30 years has been renowned for excellence in several specialist fields. This contract incorporated landscaping. With its head office on Amman. rigorously training all of its staff and employees to take this culture on board. and their craftsmanship. an irrigation system. It is hard to quantify yet absolutely critical in the progression and development of each and every project that the company undertake. material packing and transport to site. tent. taking in utilities such as electricity. sewers and roads For the same client. WWW. making plans. business travel and investment. testing and commissioning. GCS’s commitment to health and safety sets a standard for the industry. GCS. It was an extensive brief. kitchen. It is a key aspect of the company’s philosophy. is no ordinary construction company. catering. with GCS carrying out a wide range of work. recreation. clinic. please contact GCS on +9663 8672275. its commitment to those for whom it works. SAUDI PROJ3CTS 15 record of accomplishment and achievement. The client is. For further information. LTD. safety and environmental requirements into a project at the earliest possible stage if injuries and accidents are to be avoided.
This will see Saudis able to get conventional mortgages and give the housing sector a much needed boost. they need affordability. a venture backed by Dar al-Arkan Real Estate Development. Its Saudi division is exploring a significant master-planned development in Riyadh.871. a Sharia-compliant lender formed last year. One source claims Saudi Arabia needs 800. as well as Saudi Home Loans. Virtually 49% of the Kingdom’s population is between 20-34 years of age.TPG-MEDIA. Amlak. Saudi Arabia’s first mortgage law.“If opportunities become available for Noor to be present in Saudi Arabia. the group chief executive at Noor Islamic Bank. do not need luxury. but has yet to make a final decision on the project. Emaar Middle East.000 new homes by 2012. is expected to amplify demand for housing by up to 50%.000. is that no developer in Saudi Arabia is prepared to put up reasonably priced housing units until a financial framework allows this subsector to pay for it. ONLY AROUND 35% OF SAUDI FAMILIES OWN A HOME AND. but to buy homes they need long-term financing options such as mortgages. Noor Islamic Bank. led by Emaar Properties. A third says it is actually one million. They could be joined by UAE lenders looking to generate fresh revenues during an acute housing slump at home. The government is predicting a shortage of two million by 2015. SABB and Al Rajhi Bank. “Saudi Arabia is a key market to have a presence in. However.COM . that should change with the introduction of a mortgage law. With a per capita gross domestic product of $14. WHERE THE MORTGAGE SECTOR MAKES UP 20% OF THE GDP.” Saudi Arabia is also attracting increased interest from UAE developers. set to be enacted by the end of the year. is also looking to expand in the region. which is going through its final stages of approval. HOME LOANS MAKE UP JUST 2% OF THE COUNTRY'S GDP. COMPARE THAT TO MALAYSIA. though. is already developing the Jeddah Gate and Al Khobar lakes projects. Part of the difficulty. young families and low-income subsectors such as labourers. its nearest competitor. then we would certainly extend our range of Sharia-compliant banking and takaful [Islamic insurance] services to the Saudi market. Saudi Arabia’s largest developer by market value. THE PROBLEM IS EXACERBATED BECAUSE CONVENTIONAL MORTGAGES ARE NOT CURRENTLY AVAILABLE IN THE KINGDOM. Companies now providing home finance in Saudi Arabia include the Arab National Bank. 16 AUGUST 2010 WWW. AS AN INDUSTRY.16 SAUDI PROJ3CTS SAUDI MORTGAGES AS THE MORTGAGE LAW GETS NEARER FOR A LARGE COUNTRY WITH A BIG POPULATION. a venture between Emaar and the Al Oula Group in Saudi Arabia. announced plans to expand in Saudi Arabia before the UAE Government announced that it would be restructured along with Tamweel. last November. the UAE’s largest Islamic home lender. HOME OWNERSHIP IN SAUDI ARABIA IS COMPARATIVELY SMALL. the region’s biggest developer. according to a report by the Kuwait Financial Centre. Another suggests the figure is nearer to 300.” says Hussain al Qemzi.
“The main driver is that the Saudi market is untapped.” The Saudi government is already preparing to pump liquidity into the banking system to attempt to ready the market for a rapid escalation in demand for finance. While developers may be familiar with the income levels of locals. a mortgage advisory firm based in Dubai.” says Miles Payne.” he says. Commercial. “We probably will see a lot of focus on the Saudi market from Gulf lenders. the chief economist at SABB. “There needs to be more analysis and forecasting.” But some analysts have warned that the fledgling mortgage market should steer clear of the mistakes that fashioned the speculative property bubble in the UAE. Banks have credit limits for sectors like real estate and have to diversify their exposure across different industries. providing lenders with a lot more peace of mind in protecting assets. for Saudi Arabia the mortgage law brings with it tricky cultural issues that first need to be resolved. “In a region where we went through a huge boom and bust cycle in real estate. causing local prices to go up. “There are already quite a few companies looking to move into Saudi Arabia as the mortgage law is close to being enacted.” says John Sfakianakis. such as what happens when someone defaults (the government does not want to be seen as having eased the passage for people to be made homeless). in the next two to three years. Islamic Banking Group at Bank Aljazira. The country’s population is expected to expand by another 33 million by 2020. but by the same token banks must prepare for the torrent of mortgage applications. Dr Sfakianakis says a major concern is that Saudi real estate will be oversold to the international market. Furthermore. a lot of plays are being replicated in Saudi Arabia. “The financing demand of the real estate sector in Saudi Arabia will be so large that these limits will be reached. The difficulty for developers will be keeping up with demand. which could create certain challenges for locals actively seeking to buy houses. the Saudi Arabian construction and property sector has come through the financial crisis in better shape than a good number of its neighbours.“The tendency will be for foreigners to overplay real estate stories and overshoot.” said Ghassan Rida Khalifa. a partner at the international property consultancy Strutt and Parker. Exciting times then … but also extremely challenging. The country has such a young population and the drive for home ownership is huge. “Unless the mortgage law has real teeth to protect the lenders coming in. While trillions of dollars worth of projects have either been shelved or scaled down in other GCC states.” “The pending issue is if customers can afford to buy our products.COM AUGUST 2010 17 . “I know of at least three bodies looking to set up independent mortgage companies in Saudi now. it hasn’t really had a mortgage market up to this point. The market will be booming in the next five years. the chief executive of John Charcol. The Saudi banking sector is not large enough to take all these mortgages on-balance in their books.SAUDI MORTGAGES SAUDI PROJ3CTS 17 Analysts expect that the virgin market appeal of the Saudi mortgage sector will draw interest from lenders throughout the Gulf. they still need to understand how much of that monthly wage they are prepared to put by for mortgage payments. WWW.” says Chris Dommett. but I think they will run out of real estate fund options pretty fast. it will be a difficult environment. or how to finance off-plan sales. Analysts anticipate the long-term population trends in Saudi Arabia and the housing shortage to offer better long-term prospects for the mortgage sector than other Gulf states.TPG-MEDIA.” says Michael Gassner.” he adds. Vice President. Division Head. Kinan International Real Estate Development. fostering speculation. This means raising additional financing for mortgages.
and 3700 subcontractors and workers. In Saudi Arabia. With a value of SAR 1. and the remaining 10 buildings composed of two bedroom apartments. Medina and the Eastern Province. and comprises of 46 buildings: 10 buildings housing four bedroom apartments. The project has an aggressive timeline for construction completion of 18 months.COM . A LEADING SAUDI GROUP ENGAGED IN DIVERSE INVESTMENTS AND BUSINESS ACTIVITIES IN THE KINGDOM OF SAUDI ARABIA. Saudi Arabia needs one million new houses by 2014 to cater for population growth and offset shortages in residential. Jeddah. 275 Arabtec staff. commercial. another 26 buildings designed for three bedroom apartments. Arabtec’s projected turnover for its first year in Saudi Arabia is in excess of three billion riyals.18 SAUDI PROJ3CTS ARABTEC SAUDI ARABIA QUALITY WORKMANSHIP. incorporating 2400 Arabtec personnel.3 million. Arabtec Saudi Arabia is committed to ensuring that everyone goes home safe at the end of the day . Arabtec Saudi Arabia has introduced the use of Polypods to this development. Moreover. UNRIVALLED CUSTOMER SERVICE ARABTEC SAUDI ARABIA IS IN ALLIANCE WITH CPC SERVICES COMPANY. Mecca. and will rise to up to five billion riyals within three years. A MEMBER OF THE SAUDI BIN LADEN GROUP AND AL . the most well know of which is the Burj Khalifa in Dubai. In addition. the worlds tallest structure. Arabtec is in an ideal position to take advantage of this huge building programme and the new company represents a natural expansion of its activity in the region. With a booming construction sector.000 square metres.nothing 18 AUGUST 2010 WWW. Each of the buildings is a ground plus five storeys. the PNU project has called for extensive manpower and Arabtec Saudi Arabia has employed almost 6500 people on the job.MAWRID HOLDING. The project has a total floor area of 240. Arabtec has started construction of a married junior staff housing parcel as part of the Princess Noora Bint Abdulrahman University (PNU) in Riyadh in April of 2009.TPG-MEDIA. retail and hospitality property in Riyadh. Arabtec Holding member companies have been leaders in the region’s construction for over 35 years and have completed many prestigious projects.
” stated Riad Kamal CEO of Arabtec Holding. for instance. Arabtec Holding CEO is very aware of the importance of the Saudi market to the Arabtec Holding. in addition to the PNU project. It also requires the same from its subcontractors. The recovering oil prices. including pre-task preparation as regards job hazard analysis. WWW. sustained government stimulus and gradual relaxation of bank lending are some of the critical factors attributing to the growth of the market in the Kingdom. It is setting a new standard in quality workmanship and customer service. Arabtec Saudi Arabia thoroughly pre-plans all safety requirements and instructions. That is why the company is active on a number of projects. With every property or structure constructed. This real estate investment is expected to touch in the order of US$ 400 billion in 2010. and is continually encouraged by the feedback it receives from its many esteemed clients. Residential real-estate will account for the bulk of investments.ARABTEC SAUDI ARABIA SAUDI PROJ3CTS 19 is more important than the safety of employees and the public.COM AUGUST 2010 19 . paying careful attention to even the smallest of details.TPG-MEDIA. Furthermore. with the company continuing to scrutinize and re-evaluate the safety needs for each and every project. In spite of an immense slump in the global economy. “Our teams are very excited about our prospects in this new market. Arabtec Saudi Arabia is altering the way people perceive the industry. Arabtec has years of experience and expertise to draw and on and brings great diversity of service to the market. innovation and value: Arabtec Saudi Arabia is committed to delivering on all fronts. which today demand more in terms of know-how. Saudi Arabia continues to be a focus for substantial investments and remains a chosen destination for real estate developers around the world. it is about to submit offers on the SANG project (5000 villas) and on a correction facility (approximately 160 separate buildings). up by nearly 33% from 2009. As an organisation at the forefront of the industry. it is currently tendering for Al Mada Towers and is pre-qualifying for the SV aircraft hangars. Arabtec Saudi Arabia is a name that will be seen more and more in the Kingdom.
special reports and up-tothe-minute news Construction Magazine is the publication you should see and be seen in! 20 AUGUST 2010 WWW. trends and business developments. it is important to be able to rely on one effective source for all the latest news.TPG-MEDIA. interviews.20 SAUDI PROJ3CTS UNITED GULF STEEL A FOUNDATION OF NEWS. REVIEWS & PREVIEWS In a world where we have more products. more information and less time. With in-depth profiles. services and increased competition.COM .
United Gulf Steel boasts the largest medium section steel plant in the GCC. Mazen. Having been set up in the year 1998 by a group of leading industrialists from the GCC countries. square bars(24mm80mm) and round bars(30mm-90mm). with a production capacity of 450. This includes IPE/IPEA/IPEAA beams (80mm200mm) UPN/UPE channels(50mm200mm). Jordan and North Africa.000MTPA. Al Jubail. The UGS Section Mill is based on the most modern up-to-date state-of-the-art Rolling Mill technology of M/s. K. United Gulf Steel. supplies a broad portfolio of medium section products to discerning clients within the GCC and neighbouring export markets of Iran. Mr. IT IS REFRESHING TO SEE THE LEADING MANUFACTURER OF MEDIUM SECTION STRUCTURAL STEEL PRODUCTS IN THE ENTIRE GCC REGION DOING SO WELL. Egypt. the company has embarked upon an ambitious plan for the future in order to meet the burgeoning needs of the local market and provide the highest quality of products for a variety of industrial sectors. This unique Mill fulfils the long felt need for a world class Rolling Mill within the region. All these sections are manufactured to international quality standards and designed to suit local market needs. flat bars(50mm-300mm). Chairman & Managing Director of UGS is a visionary business leader who is considered a pioneer in his chosen fields of business.TPG-MEDIA.UNITED GULF STEEL SAUDI PROJ3CTS 21 A WORLD-CLASS PRODUCER OF STRUCTURAL STEEL SECTIONS AT A TIME WHEN MUCH OF THE WORLD’S STEELMAKING CAPACITY IS BEING INCREASINGLY BASED IN CHINA. capable of manufacturing long products conforming to stringent international quality standards. which utilizes the latest technology and machinery to ensure that products and efficiency are second to none. based in Saudi Arabia's largest industrial city. WWW.COM AUGUST 2010 21 . Allahiq. equal angles(40mm-150mm). SIMAC.
103 33017 Tarcento (Udine) – Italy Phone: +39 0432 799111 Fax: +39 0432 784556 E-mail: sales@sms-meer. the company’s guiding principle has remained that of a constant focus on technology. installing and fully commissioning hot rolling mills for long products (rebars. electrical.it Internet: www. Since the beginning.E. Phone: +971 4 204 5010 Fax: +971 4 204 5017 E-mail: serviceinfo@sms-meer. small and medium sections. innovation and special attention to product and service improvement. certified by customer •Development of VCC Vertical Compact Coiler technology Since many years. SMS Meer SpA has successfully supplied turnkey plants. in the nomenclature currently used between people of the Steel Business. SMS MEER SpA Via Udine. designing. The company was founded in 1969 and from 1991 it forms an own product division within SMS Meer Group – Germany – closely cooperating with the division for long products technologies in Mönchengladbach. innovation and special attention to product & service improvement SMS Meer SpA is in the market of rolling mills for long products since more than 40 years.A. A great number of innovations to meet the market demands and to be competitive in the steel products sector contributed to strengthening SMS Meer’s reputation and to making its name known all over the world.The obvious advantage of this company is the highly specialized production line. special steels.it/com SMS MEER . automation.com Internet: www. including auxiliary and back up plants.) during the commissioning phase and the plant lifetime. Office G16. which result is sound engineering and increased reliability to the point that some specific equipment or systems are often exemplified with the expression: “similar to the SMS type”. U. roll pass design.Focus on technology. merchant bars. etc. manufacturing.sms-meer.com MEETING your EXPECTATIONS . over 900 now installed worldwide • Development of the universal housingless stand for beams up to 300 mm • HSD® system reaches speed of 40 mps. Dubai.sms-meer. granting as well tailor-made assistance with competent supervisors of all the various disciplines (mechanical. wire rods) for carbon steels.Dubai c/o SMS Gulf FZE Dubai Airport Free Zone Building 4E. Here are just a few of the milestones: • Development of the HSD® High Speed Delivery System • Development of the housingless stand. etc.
UGS has been able to respond to market needs on home ground and other GCC markets. UGS will be further growing its capabilities throughout the region. WWW. This vision is tirelessly pursued by the dedicated workforce and by the company applying the following principals: • To constantly upgrade the product range. • To involve all employees in enhancing and maintaining the quality of goods and services. The facility would rank among the best of current technologies in the world. it has become an important supplier to that market. This enthusiasm for achieving excellence can be seen clearly in way the company conducts its business. Given its geographical and logistical advantages as compared to imported steel. Germany. a wide range of sizes and smaller delivery times. • To provide goods and services. UGS is committed to become a truly world class integrated steel manufacturer providing high value products. UGS facilities ensure that the product is of a consistently high quality so the customer can have complete confidence in all the products supplied. keeping abreast with market needs. As a manufacturer of high quality structural steel sections.COM AUGUST 2010 23 . power transmission and telecommunication tower fabricators. With its strategic position. in services and quality of goods. • To be the first choice for all customers in the GCC and to cater to their needs. Germany). so as to retain the highest degree of customer satisfaction. scaffolding and cold drawing and fastener industries. Having acquired the coveted EN ISO 9001 : 2000 certification from R WTUV. but also for the higher range of smaller sections. In terms of future development. UGS serves a range of large industrial users covering pre engineered building fabricators. and to provide the highest degree of customer satisfaction by the involvement of all employees. With demand for steel closely linked to over all economic activities. offering significant advantages in terms of design. and to continuously keep exceeding the expectations and meeting the specifications of customers. By offering customized lengths. • To provide the best.TPG-MEDIA. not merely for the Medium Section range. irrigation equipment manufacturers. and efficient logistics and support systems.UNITED GULF STEEL SAUDI PROJ3CTS 23 Italy (now a wholly owned subsidiary of SMS. to be a world-class producer of structural steel sections. The plans for the present and future of United Gulf Steel are being driven by just one goal. UGS will continue to be a front runner in the industry. UGS has a wide network of major steel stockists spread all over the GCC region. quality of equipment and flexibility of operations aiming to be a front runner in the GCC area.
special reports and up-tothe-minute news Construction Magazine is the publication you should see and be seen in! 24 AUGUST 2010 WWW. trends and business developments. more information and less time.COM .TPG-MEDIA.24 SAUDI PROJ3CTS UNITED GULF STEEL COVERING THE CONSTRUCTION INDUSTRY In a world where we have more products. services and increased competition. interviews. it is important to be able to rely on one effective source for all the latest news. With in-depth profiles.
Emaar Middle East World-Class Living in Emaar Middle East’s Saudi Communities .
3%. hotels and leisure. led by a strong housing demand. The two communities. Saudi Arabia is projected to need 1.Emaar Middle East is bringing a new lifestyle dynamic to Saudi Arabia Emaar Middle East is bringing a new lifestyle dynamic to Saudi Arabia by creating integrated communities featuring all modern amenities. The government is focused on meeting their growing demand for affordable luxury. This presents an attractive opportunity for large scale integrated developments that offer investment opportunities in sectors such as malls. an attractive project pipeline and an expanding hospitality sector. and the Kingdom recorded foreign direct investments of US$36. ranking among the most attractive emerging markets for investors.000 units annually over the next four to five years. Short term demand for homes is also robust. A recent survey by A. The key driver for the Saudi Arabian real estate sector is the growing demand from its youthful population. The report placed the Kingdom fourth out of 50 markets in its 2010 Real Estate Global Opportunity Index. and the Kingdom continues to be the one of the most attractive places to do business.5 million new homes over the next five years with demand growing at a compound annual growth rate of 3. growing at an annual 3%. Despite the unprecedented challenges of the global financial crisis. Some 60% of the Saudi population. Saudi Arabia is poised to grow at 4% in 2010. These developments also have a larger socioeconomic role to play by creating new urban communities. with demand expected to exceed supply by 50. Jeddah Gate and Al Khobar Lakes.T. more or less in line with the demand projections across the Middle East region. are currently progressing as per schedule. is under the age of 30. . Kearney said Saudi Arabia’s real estate sector offers among the best investment opportunities in the world.4 billion in 2009. ushering in new job opportunities and supporting the growth of ancillary industries. The ‘World Bank’s Doing Business in the Arab World 2010’ handbook places Saudi Arabia in the premier position among GCC states.
The two lifestyle projects. pedestrian walkways. Dr Dia Malaeb.5 million new homes over the next five years with demand growing at a compound annual growth rate of 3.Emaar Middle East Saudi Arabia is projected to need 1. these projects are thoroughly modern. is complementing this growth momentum by developing integrated master-planned communities that introduce a new lifestyle to Saudi Arabia. said: “While conforming to the needs and aspirations of the Saudi population. we are also contributing to the Saudi economy. government offices. educational institutions. and part of Abraj Al Bait.5 billion Al Khobar Lakes. the SR 6 billion Jeddah Gate and SR 4. are located in The Makkah Clock Tower. and three-bedroom homes. two. The studio. a Fairmont Hotel. more or less in line with the demand projections across the Middle East region. we have helped create several hundred new jobs and drive the growth of ancillary industries. thus energizing the local economy. In addition to meeting the growing demand for homes.” Emaar Middle East is also developing Emaar Residences at the Fairmont Makkah. We have made significant progress on all our projects. with the first residences in Jeddah Gate and Al Khobar Lakes scheduled for handover shortly. Jeddah Gate and Al Khobar Lakes therefore have amenities such as community centres. healthcare centres. and one. . featuring all lifestyle amenities.” He added: “The key focus of Emaar Middle East is the on-schedule completion of all announced projects to world-class standards.” The key differential of Emaar Middle East in developing the lifestyle communities in Saudi Arabia is in following an integrated approach. a subsidiary of global property developer Emaar Properties PJSC. Emaar Middle East. Dr Malaeb explained: “Through our developments. Regional CEO responsible for Emaar Middle East. are currently in advanced stages of completion. This means that all the developments are selfsustaining with modern amenities in close proximity to the homes. The key driver for the Saudi Arabian real estate sector is the growing demand from its youthful population. retail outlets and mosques – all carefully planned to offer a complete lifestyle choice for residents.3%. distinguished by its location on the Haram Plaza. parks.
featuring several residential units. said: “We understand the needs and aspirations of our customers. fitness centres.” He added: “Our unique development model of creating integrated communities sets us apart by offering residential. All our projects are progressing as per schedule. employing experienced contractors and consultants to achieve the world-class standards of Emaar. community centres and pedestrian walkways. Emaar Middle East Among other facilities for people looking for a healthy and holistic lifestyle are swimming pools. day care centres and recreational areas. which achieved an impressive eightday-per-floor cycle. Jeddah Gate is in close proximity to the railroad link between Jeddah and the two Holy Cities of Makkah and Madina. Community amenities include schools. Located in the centre of Jeddah’s new downtown. The eight-day cycle in developing a floor includes much coordination among various contractors and consultants. a cluster of three high-rise residential towers in Jeddah Gate.000 sq m of gross leasable area for retailers.3 million sq m and featuring 80. thus marking the evolution of a new downtown for the city. It is one of the premier lakefront developments and the largest integrated community in Eastern Province. The projects will set a new milestone in the real estate dynamics of the Kingdom.” Jeddah Gate: The new heart of Jeddah Having opened to great interest from the home buyer and investors. who trust the vast experience of Emaar in delivering world-class integrated communities.000 sq m of serene water bodies. children’s play areas. and is executed by sliding steel shuttering systems for the columns and core walls. commercial and leisure amenities all in one master-planned neighborhood. This is an impressive construction achievement and boasts one of the best construction progress reports in Saudi Arabia. . Jeddah Gate is on schedule to welcome its first residents shortly. Ahmad Al Kulli. Top-end retailers and several food & beverage outlets will function in close proximity to the community. and plywood formwork for the slabs. This is further testament to the on-schedule progress of the project. General Manager of Emaar Middle East. All homes are equipped with the latest telecom connectivity and feature Smart Home capabilities to promote energy and water use efficiency. set on about 4. Jeddah Gate is spread over nearly half a million sq m.Eng. These facilitate fast installation and dismantling after the concrete gains strength. office space and 75. Emaar Middle East launched Abraj Al Hilal. All our communities uphold the values expected by the community of offering a safe and secure living environment that respects of the privacy of individuals and families. Al Khobar Lakes: Eastern Province’s pioneering waterfront destination Another key project of Emaar Middle East that is progressing as per schedule is Al Khobar Lakes. mosques.
The community features more than 2000 private villas with retail and leisure amenities that are perfect for family living. has unveiled several projects in key growth markets in the region. both of which have gained overwhelming investor response. With a development value of SR4.000 private villas with retail and leisure amenities that are perfect for family living. In all. Al Khobar Lakes is a luxury lakefront development set on approximately 4. convenience retail. Work on Jeddah Gate and Al Khobar Lakes is progressing as per schedule. Jeddah Gate is in close proximity to the main railroad linking the two Holy Cities of Makkah and Madina to Jeddah. office space and 75. and work is progressing rapidly for handover of homes shortly.000 sq m of gross leasable area for retailers. Emaar Middle East – facts summary Emaar Middle East. swimming pools. Emaar Middle East is also offering serviced residences in the Holy City of Makkah with the Emaar Residences at the Fairmont Makkah. The retail centre is located on an area of 110. nursery/kindergarten. Emaar Middle East.Al Khobar Lakes is only 43 km from King Fahd International Airport and is located in close proximity to Al Khobar City.000 sq m. a property development associate company of global property developer Emaar Properties PJSC focused on projects in the Middle East region. The project will have 11 mosques including a Grand Mosque for Friday Prayers. community centre.5 billion. The community centre features a recreation club. Emaar Middle East has also launched Al Nada and Al Ghadeer residential villages to great interest from investors and home buyers. Emaar Middle East’s pioneering developments in the Kingdom are Jeddah Gate and Al Khobar Lakes. Saudi Arabia is one of the principal markets of Emaar Middle East and the company has launched two pioneering master-planned communities in Jeddah and Al Khobar. educational complexes spanning over 28. it features more than 2. is thus bringing in a new lifestyle choice while also contributing to socio-economic growth. . The SR6 billion project will serve as a centre point for the city's new downtown.3 million sq m featuring serene water bodies. public area. coffee shops and restaurants. the project will have residential and serviced apartments. Al Khobar Lakes is one of the premier lakefront developments and the largest integrated community in the Kingdom of Saudi Arabia. and food & beverage outlets. a shopping centre. through its projects in the Kingdom.000 sq m and will be an upscale shopping and leisure destination. healthcare facilities and other amenities. Jeddah Gate is a mixed-use project spread over approximately half a million sq m in Jeddah's new downtown. Dhahran and Dammam.
Emaar Quick Facts Quick Facts on Jeddah Gate • SR6 billion mixed-use project • The centre of Jeddah's new downtown • Close proximity to the railroad link between Jeddah and the two Holy Cities of Makkah and Madina • Residential and serviced apartments • Spacious office spaces and 75.000 sq m of gross leasable retail space • Amenities include schools. gardens and waterscapes • Facilities include swimming pools. coffee shops & restaurants • Healthcare facilities and other amenities Quick Facts on Emaar Residences at the Fairmont Makkah • Elegantly furnished and superbly serviced apartments centrally located in the Holy City of Makkah • Situated in the Makkah Clock Tower. fitness centres. day care centres and recreational areas • Smart units with latest communication technologies Quick Facts on Al Khobar Lakes • Lakefront development set on approximately 4. two community centres. two.000 sq m of serene water bodies • Launched Al Nada and Al Ghadeer villages • Over 2000 private villas with retail and leisure amenities • 11 mosques including a Grand Mosque for Friday Prayers • Retail area to cover 113. a Fairmont Hotel. children’s play areas. community centres and pedestrian walkways • Outdoor plazas. and three-bedroom homes • The serviced residences will be offered on a leasehold basis • To be managed by luxury global hospitality operator Fairmont Hotels & Resorts through an exclusive agreement with Emaar . and part of Abraj Al Bait • Located on the Haram Plaza offering views of the Holy Kaaba and Haram • Studio and one.3 million sq m • Only 43 km from King Fahd International Airport and in close proximity to Al Khobar City.000 sq m • Two educational complexes for both boys and girls • Shopping centre. mosques. Dhahran and Dammam • 80.
Emaar Middle East World-Class Living in Emaar Middle East’s Saudi Communities Designed and Published by TPG Media 04 349 4925 .
but also the cost of lost time and disruption to the business. MANAGEMENT AND INVESTMENT COMPANY. but also sympathetic to the nation’s long history and culture. In addition to the work within the Kingdom. as well the development and construction of residential and commercial buildings. the mandate for sustainability is important to Al Akaria. Al Akaria offers vast opportunities for those seeking premises renowned for superiority. The Plaza is located in the heart Riyadh on Olaya Street. Moral and social responsibilities and values are equally as important as the commercial direction the company takes. WHILST ADHERING TO THE CULTURAL AND NATIONAL HERITAGE OF THE COUNTRY. To have been chosen for this kind of work is a great honor and is testament to the dedication and skill with which the company conducts its affairs. Makah. Al Akaria provides good quality commercial and residential buildings throughout the Kingdom. ITS PROJECTS REPRESENT A STATEMENT AND EXPRESSION OF EVERYTHING AL AKARIA STRIVES TO ACHIEVE. Al Akaria has focused on solutions to these problems. some of which take in Saudi embassies in other GCC nations. Al Akaria is helping to shape the future of the Kingdom of Saudi Arabia. and this is being carried out in a manner that is not only commercially viable. not only in the direct sense of actual moving costs. Al Akaria believes that it is essential for the company to conduct its affairs with wider issues such as the environment as a key consideration. investments they can be proud of. Al Akaria’s team of experts has limitless ambition. local agencies and International Partners Al Akaria is ideally placed to benefit from the Kingdom’s ongoing growth and prosperity. whilst adhering to the specific needs of what is a unique culture and tradition. for instance. Features such as IP telephony. social and economic requirements of the Kingdom of Saudi Arabia for the benefit of those who live and work in the country. conference centers and exhibition halls situated in prime locations across all major cities. At the core of what the company stands for is a focus on balancing the evolving needs of modern city life while maintaining and conserving the environment. Al Akaria is dedicated to providing buyers with both property and an environment of the very highest standards. A showcase and fine example of Al Akaria’s work is The Plaza in Riyadh. Al Akaria understand that moving office can be a costly business. Al Akaria was established in 1976 and.COM AUGUST 2010 39 . and has worked on prestigious. with its policy on sustainability and efficiency contributing significantly to the way the company plans its developments. Al Akaria’s projects seek to prioritize both the future physical. Upscale high-rise offices. high quality food courts and top class restaurants for the retail Industry are a fragment of what Al Akaria offers. as well as on the environment and local surrounding areas. The Kingdom is currently enjoying rapid growth and development. with its headquarters in Riyadh. has been integrated into the development. As a leading real estate company fully supported and in strong leverage with the Saudi Government. to help tenants overcome as many of these barriers as possible. The Plaza as an example of this. commercial and retail boutiques that are reasonably priced and affordable. Al Akaria’s aim is to establish the Kingdom as a dynamic and progressive real estate market by creating sustainable developments that can be used as a point of reference when it comes to quality. productivity and joy whilst providing a lasting positive impact on the residents. The primary business of Al Akaria is the management of its own real estate properties. Al Akaria has both built and manages the development. WWW. Driven by a passion for excellence. Attention to detail. Moreover. commercial and mixed-use communities that foster innovation. it stems from a corporate commitment to being a socially responsible company on all levels. The current property portfolio includes major developments and re-developments within the Kingdom. is a global leader in the real estate industry. Medina and the Eastern Province. in other words. Indeed. Al Akaria has also fulfilled a number of contracts outside of the country. Al Akarai is unique in the fact that it also offers special purpose industrial science parks. Internet & Ethernet switching systems and IP TV systems are all incorporated. Consequently.SAUDI REAL ESTATE COMPANY (AL AKARIA) SAUDI PROJ3CTS 39 PROUD OF THEIR HISTORY AND HERITAGE AS A WORLD CLASS PREMIER REAL ESTATE DEVELOPMENT. High-end boutique shopping malls. The corporate vision is to create sustainable residential.TPG-MEDIA. & Jeddah. AL AKARIA IS COMMITTED TO CONTINUING TO STRENGTHEN ITS REPUTATION AS A DYNAMIC AND FORWARD THINKING REAL ESTATE MARKET WITHIN THE KINGDOM OF SAUDI ARABIA BY CREATING UNIQUE AND PRESTIGIOUS DEVELOPMENTS THAT CAN BE USED AS A BENCHMARK OF QUALITY. Luxury hotel suites and apartments. Smart technology. have seen several important aspects to the scheme developed and implemented. landmark products in Riyadh. and quality whilst maintaining their emphasis on personal client relationships. particularly to assist with the comfort and upwardly mobile lifestyle of those resident in the building. Every detail has been considered and the focus has been customer satisfaction and user interface. including extensive retail services to support a positive working environment.
DOHA AND BEIRUT. earning the trust and respect of the business and private banking communities. and long term planning. operation and maintenance. General Buildings. This philosophy has enabled the major companies of El Seif Group to become market leaders and pioneers in their specific industry sectors. and Special Projects. medical equipment. SOLUTIONS ACROSS THE ENTIRE INDUSTRY SPECTRUM ESEC has the capability to design on certain scale. healthcare. the emphasis has been on quality. customer satisfaction. however. From day one. depending on the size and nature of project. EL SEIF ENGINEERING CONTRACTING COMPANY (ESEC) IS SOUGHT OUT BY DISCERNING CLIENTS THROUGHOUT THE REGION. From the beginning. WHILST GUARANTEEING THE VERY HIGHEST STANDARDS.TPG-MEDIA. INDEED. A PRIVATELY OWNED AND GLOBALLY RENOWNED GROUP OF COMPANIES WITHIN THE KINGDOM OF SAUDI ARABIA. the company is divided into three distinct divisions. ABU DHABI. as well as a broad portfolio of services that 40 AUGUST 2010 WWW. insurance and power generation. RESULTING IN A SERVICE THAT SAVES CLIENTS BOTH TIME AND MONEY. commencing operations in Saudi Arabia and the Middle East in the commerce and transport sectors with a large vehicle fleet that covered a wide network in the region. the company sometimes subcontracts the design work to experienced and specialized firms. This allows the company to offer clients both targeted expertise.40 SAUDI PROJ3CTS EL SEIF ENGINEERING CONTRACTING COMPANY STEEPED IN TRADITION. BUT INNOVATING FOR THE FUTURE A KEY MEMBER OF THE EL SEIF GROUP. efficiency. It was during the 1970s that the El Seif Group. through the addition of highly qualified managerial and technical capabilities. Infrastructure.COM . established new companies in the specialist arenas of engineering and construction. THE COMPANY OFFERS QUALITY WORKMANSHIP. including real estate development. the group has been committed to delivering the highest quality and consistently achieves client satisfaction through high levels of professional and superior standards and efficiency. WITH HEADQUARTERS IN RIYADH AND OFFICES IN DUBAI. led by a team of professionals. Moreover. This commitment has helped the group’s member companies to evolve into credible leaders in their respective fields. and commercial investment. FINANCIAL STABILITY AND UNCOMMON EXPERTISE. hospital supplies. A PIONEER AND MARKET LEADER The El Seif Group first opened its doors for business in 1951.
it is a towering new symbol of the pride and progress of Saudi Arabia’s capital city. In Riyadh. is one of many projects based in Qatar. In Beirut in the Lebanon. covering 67 lush hectares of residential. SUPERIOR PROJECTS. consumer products process plants. operation and maintenance. design/build contracts.COM .42 SAUDI PROJ3CTS EL SEIF ENGINEERING CONTRACTING COMPANY project includes the design and construction of eight buildings known as the Operation Facilities. ESEC is constructing four high-rise buildings with heights raging between 19 and 31 floors being built according to the highest quality standards. project construction management. heavy duty equipment rental and leasing. Other works include Silhouette Tower and Hamad Medical Centre City just to name a few. can be brought together to provide solutions across the entire industry spectrum. a sewage treatment plant. general contracting. logistics. retail. infrastructure. procurement and construction (EPC).000 metres of pipes. ESEC scope included the construction of 2. The company is constructing residences. the company’s role as an instrument in the region’s progress will continue to grow.TPG-MEDIA. laboratory facilities and various outpatient clinics. garden apartments. desalination plants. ESEC has demonstrated over the years the stability. The project types that ESEC works upon incorporate high-rise towers and mixed-use building schemes. engineering. railways. In The Kingdom of Saudi Arabia. and is always looking for new and innovative processes to add value in regards to quality. electrical. structural. The vision of creating a new and vibrant district will easily be met by ESEC. a hotel. and site infrastructure works. Over in Dubai. offices. recreation centres. To differentiate itself from its competitors. leisure and commercial properties. and parking for 3000 cars. military and defence. professional management and high quality workmanship that are required to fulfil projects safely. relatively trafficfree high-quality community living amidst landscaped gardens and stone streets. road works. communication. Saudi Arabia. industrial installations. Additionally. the exciting Green Community at Motor City is yet another ESEC job which. the company is active on a project for the Ministry of Finance at the Princess Noura Bint Addulrahman University for Women. with its ever-expanding resources. incorporating important and prestigious jobs throughout the region. site grading. residential units. where it is carrying out all infrastructure works on an area of 8 million square meters.022 housing units with pre-cast concrete superstructure and pre-cast boundary walls including all civil. Riyadh’s newest international landmark. mechanical and electrical installations. luxury and family villas. Package 15 in the New Doha International Airport is another prestigious project undertaken by ESEC. ESEC has been chosen to execute the headquarter building of Samba Financial Group. ESEC has consistently built a reputation for quality work and timely delivery. operating theatres. diverse activities and increasing involvement in regional property development. infrastructure. townhouses. but are not limited to. for example. architectural and electromechanical works. power generation and transmission. Also in Riyadh. A Culture of Continuous Improvement Since its inception. which have earned the company the admiration and satisfaction of its clients. residential and commercial complexes and large scale housing developments. mechanical and electrical works for utility buildings. solid waste management. restaurants. within the same area. In Abu Dhabi. hospitals and health sector. landscaping. the company was the contractor of choice for the design and build of Package 3 in King Abdullah Financial District. This is the largest hospital ever built in the country. ESEC is working outside of the Gulf too. which is a community for UAE nationals as part of the Plan Abu Dhabi 2030 directive. Moreover. commercial areas. To achieve these goals they are striving to achieve a culture of continuous improvement throughout the whole organisation. This iconic tower rises 300 metres into the air and consists of a Four Seasons Hotel. ESEC is proud to have been chosen to build the Kingdom Tower. flyover bridges. airports. with the capacity for 500 beds. provides secure. ESEC is involved in Al Falah Community Development Project. price and delivery. one of the largest and most modern developments in the Middle East. The scope included civil. shopping mall. it completed the construction of a 500-bed Government University Hospital. the company has placed much emphasis on customer focus and continuous improvement. This turnkey 42 AUGUST 2010 WWW. which rising 39-storey with 232 meters high. terraced apartments. The King Abdullah Financial District will house the financial sector and related industries. SUPERIOR WORKMANSHIP ESEC boasts a product portfolio that reads like a ‘Who’s Who’ of industry and commerce. in the same way that the Eiffel Tower symbolises Paris and the Statue of Liberty symbolises New York. operation and maintenance. and 750. on-time and within budget. mechanical and electronic works. These services include. international procurement. a utility tunnel. for instance.
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