CME ARABIA
IDSi Arabia held a Construction Middle East 2009 (CME 2009) event to launch its construction management Contura software in Jeddah recently. The theme of the event was “Sustaining Profitability in Difficult Economic Times: A Solution for Middle East Construction Challenges.” The event targeted key decision makers in construction and real estate companies. Companies like Emaar Middle East, Emaar The Economic City, Kinnan, ALJ, Saudi Binladen, CPC, Tamlik, Zuhier Zahran, GACA, Saudi Electricity, Al-Muhaidib Contracting Co. and Turner International attended. A workshop designed for project managers, engineers, and procurement officers was held. The session provided detailed information about how Contura software is used in three phases of construction project - planning and design, site management, and project management. Training materials and question/answer period took place. The Contura launch was followed by the keynote address given by the Member of Board of Directors, Yanbu Chamber of Commerce, Faiz Al-Abideen. He spoke about the need for IT as the pace of economic development continues to grow. The event started with introductions by Muhammed Al-Qureshi, business development manager of IDSi Arabia.
LANDMARK
Landmark Advisory, one of the leading real estate consultancy companies in the Middle East, has launched its first sales price map for Abu Dhabi. The guide is designed to be a reference tool for prospective buyers looking to invest in property in the capital and follows the regular release of their Dubai price map. Jesse Downs, director of research, Landmark Advisory, says that there are now signs of increasing activity in the Abu Dhabi market. “There has been a noticeable increase in terms of sales as more developments are nearing completion. We have witnessed more end-users emerging as buyers as they become more confident in investing in the market again and we expect this interest to increase as more units become available.” While the buyer profile in Abu Dhabi clearly points to the end-user, profitable investment opportunities are still evident. Al Reef villas currently present excellent potential market yields, but Landmark Advisory believes that in the long-term, Marina Square and Sun and Sky Tower are likely to be better investments for the area.
DECOFAIR
The Jeddah Chamber of Commerce & Industry is staging DecoFair, an expo for furniture and home accessories, from Nov. 8-12 at the Jeddah International Exhibition Center. “This is part of the efforts for consolidating and promoting the furniture and furnishing industries nationally and internationally,” Haya I. Alsunaidi, managing director of Sunaidi Expo, which is organizing the event, told reporters yesterday. The event has been planned at a time when the annual demand for furniture and decors has reached the SR3 billion mark, she added. The ongoing construction boom is generating lots of demand for building materials as much as for furniture and decors, she said, adding that the furnishing sector is especially marking a huge expansion with the number of buildings and villas under construction. The show is targeted to attract professional architects, interior designers, real estate developers and companies involved in all these sectors.
EFG HERMES
EFG-Hermes, a major investment bank in the Arab world, announced yesterday the appointment of Hossam Yousef Radwan as CEO of EFG-Hermes Saudi Arabia. The appointment comes as EFG-Hermes, “already the number-one independent broker in Saudi Arabia and a trusted advisor to major Saudi corporations and top investors,” looks to further expand and diversify its fast-growing operations in the Kingdom. Radwan, a Saudi national with proven global track record, received a Bachelors of Science degree in finance and International Business from Georgetown University in Washington DC, and was most recently head of the Asset Management Division for the Middle East and North Africa at Goldman Sachs, based in London. He joined Goldman Sachs in 1997 after a four-year stint with JP Morgan in both New York and London. “By bringing a Saudi national with a proven international track record to head our Saudi business, we are literally getting the best of both worlds and sending yet another strong signal about the importance of the Saudi market to EFG-Hermes’ business overall,” said CEO Hassan Heikal, noting Hossam Radwan’s solid credentials.
MOBILY
Etihad Etisalat (Mobily) and its data subsidiary Bayanat Al-Oula provide the best telecommunications solutions for the business sector, said Bayanat’s boss. Eyas Al-Hajery, Bayanat’s director, said that these state-of-the-art services will add high-quality services that enable businesses to keep up with the rapid developments in the world of telecommunications. Hajery added that the DIA (Direct Internet Access) service provides fast, uninterrupted Internet connectivity to a business client using various technologies, such as fiber optics and microwave, with speeds ranging from one megabit per second (Mbps) to a whopping 10 gigabits per second (Gbps). Connectivity options can either be dedicated or shared, with the possibility of a backup link when needed.
MIR REALTORS
Mir Realtors, the construction and real estate division of the South India-based Mir Group, is building one of the largest townships in Thiruvanantapurum named “The Greens” on 11 acres of lush greenery at Karakulam, near Peroorkada. The proposed project features 64 premium villas as well as 300 spacious apartments and is located on the state highway to Nedumangad. “This is the first time any builder has introduced the exclusive first-of-its-kind pool villas in Thiruvanantapurum,” the company said. “After a successful launch and judging from the amazing response from NRIs and other investors, Mir Realtors will soon be setting up a third beach-front township in Kannur,” it added. Construction of the Green Metropolis’ 24-storyed apartment and independent villas has been completed and handed over to proud owners in April 2009. The Greens is scheduled for completion in 2010 and Phase One will be handed over shortly. Both The Greens’ and Green Metropolis are being constructed by adopting globally benchmarked eco-friendly practices for resource efficiency, effective waste management system and rainwater harvesting, the company statement said.
BMG
The 2009 Art Alive Exhibition opened in Riyadh yesterday. The occasion was held with the support of Minister of Culture and Information Dr. Abdul Aziz Al-Khoja and was attended by a number of distinguished guests. The minister’s presence was a reflection of the government’s commitment toward promoting such artistic endeavors aligned with its new vision. The minister said, “I would like to take this opportunity to thank Mr. Basil Al-Ghalayini for staging such an important event. This exhibition is very important and encourages the youth to engage in such cultural pursuits. I highly commend such endeavors and have been greatly impressed by the quality of work I have seen. The exhibition for this year was held under the theme “Nature in Our Kingdom” and was open to all Saudi nationals Kingdom-wide. There was a display of the photographs chosen by the Art Alive Committee.