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02 AUGUST 2010 WWW.TPG-MEDIA.COM

02 SAUDI PROJ3CTS CONTENTS SECTION

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Saudi Projects Magazine is published by The Planet Group (UK) Ltd.Company registered in England & Wales, number 3391408. Allmaterial is the copyright of The Planet Group (UK) Ltd. All rightsreserved. Emirates Construction Magazine is the property of ThePlanet Group (UK) Ltd. This publication may not be reproduced ortransmitted in any form whole or part without the writtenpermission of a Director of The Planet Group (UK) Ltd. Liability:while every care is taken in the preparation of this magazine, thepublishers can not be held responsible for the accuracy ofinformation herein, or any consequence arising from it. In the caseof company or product reviews or comments, these have beenbased upon the true and honest opinion of the Editor at the time ofgoing to press.

EDITORIALEDITORRod Millington

COMMERCIAL MANAGERPaul McNeill +971 050 5082702

ADVERTISINGHusam Y. A. Alhila +971 50 452697Alex Griffin +44 1484 321000Kelly Heffey +971 50 1138611

DESIGN TEAMCREATIVE DIRECTORPaul Roper

GRAPHIC DESIGNJamie Quarmby

MULTIMEDIA DESIGNMichael Tully

PRODUCTION PRODUCTION MANAGERDan Hough

PRODUCTION ASSISTANTSVicki Whitehead 0044 1484 304254Rachael Whiteley 0044 1484 344050

ACCOUNTANT ACCOUNTANT MANAGERKerry Finn

ACCOUNTANT ASSISTANTSadie Roberts

CREDIT CONTROLCREDIT MANAGERKatie Ridgwick 0044 1484 304254

04 NEWS SECTION

16 SAUDI MORTGAGES

18 ARABTEC SAUDI ARABIA

20 UNITED GULF STEEL

25 EMAAR MIDDLE EAST

38 SAUDI REAL ESTATE COMPANY (AL AKARIA)

40 EL SEIF ENGINEERING CONT. CO.

CONTENTS SECTION SAUDI PROJ3CTS 03

WWW.TPG-MEDIA.COM AUGUST 2010 03

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 ASKS FOR BIDDERSON $1.5BN POWER PLANTSaudi 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 OILSMUGGLING OPERATIONSaudi 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.

SAUDI ARABIA AND FRANCESET TO SIGN NUCLEAR PACTSaudi 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 EYESTAKE IN BPSaudi 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.


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 Stone-

Tech, 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

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.

04 SAUDI PROJ3CTS NEWS SECTION

SAUDI CONSTRUCTION PIPELINEINCLUDES OVER 720 PROJECTS

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

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.

DEMAND FOR MORE HEALTHCAREFACILITIES IN THE MIDDLE EAST


Riyadh Exhibitions Company (REC),

the organizer of the International Stone

and Stone Technology, Show Saudi Stone-

Tech, 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, 2010 at the

Riyadh International Exhibition and

Convention Centre. The move is expected

to draw record participation from regional

and international exhibitors and visitors.

VeronaFiere , Italy ’s top trade show

experts that annually organize

MARMOMACC, the international

exhibition of stone design and technology,

and the Italian MARMOMACCHINE

Association, a technical and promotional

organization for Italy ’s stone and allied

industries, will lend their expertise to boost

international interest in the booming stone

and stone technology sector in Saudi

Arabia and GCC countries.

Saudi Stone-Tech is an important

partner event to the region’s largest

construction trade fair, Saudi Build 2010 –

The 22nd International Construction

Technology and Building

Materials Exhibition, which will

held concurrently. A dedicated

hall occupying more than 3,000

sqm has been allotted for Saudi

Stone-Tech. Both Saudi Stone-

Tech and Saudi Build are already

more than 70 per cent booked.

Aligned with both events, is the

PMV Series of the Saudi Build

show. PMV covers a total indoor

and outdoor area of more than

5,000 sqm dedicated entirely to

displaying the latest construction

heavy machinery and equipment.

“Through the support of

VeronaFiere and Italian

MARMOMACCHINE

Association we expect to hold the

most successful edition of Saudi Stone-

Tech next October and further highlight

the importance of Saudi Build as a

platform for expanding the region’s

construction business as well. Saudi Stone-

Tech will continue to be a gateway for

local, regional & international companies

to explore and engage in business

opportunities within the lucrative Saudi

market,” said Mohamed Al Hussaini,

Deputy General Manager, Riyadh

Exhibitions Company.

VeronaFiere conducts or hosts 37 trade

shows a year in Verona, Italy and 11 abroad.

The Italian MARMOMACCHINE

Association, on the other hand, includes

around 250 members who are

manufacturers of marble, granite and other

ornamental stones as well as related

machines, tools and equipment.

NEWS SECTION SAUDI PROJ3CTS 05

RAS AZZOUR WINS $16MENGINEERING CONTRACTSaudi Arabia's Royal Commission of Jubail

and Yanbu has awarded a SR59.9m ($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. The Ras Azzour power

plant will have the capacity to generate 2,400

megawatts of electricity and produce 1,025

million cubic metres of desalinated water per

day.

ABB WINS $89M CONTRACTIN SAUDI ARABIASaudi Electricity Co, the kingdom's national

power transmission and distribution provider,

has awarded ABB an $89m contract to build a

new substation to ensure reliable power

supplies for the King Abdullah Financial

District in Riyadh. ABB is responsible for the

turnkey delivery of a 380/132/13.8 kV

(kilovolt) substation, and will design, supply,

install and commission the installation as well

as carry out the civil works. The substation will

be close to the financial centre and feed four

smaller substations situated within the district.

The project is expected to be completed in

around 22 months.

SAUDI AWARDS $334M OF WATER CONTRACTSSaudi Arabia's National Water Co (NWC)

has awarded nine contracts worth SR1.255bn

($334m) for projects in the first phase of a

strategic water plan in Riyadh, Saudi press

agency has reported. The plan is aimed at

making full use of the Ras Al-Zour Water

Desalination Station of Saline Water

Conversion, which is expected to pump nearly

800,000 cubic meters of water per day. Joint

local and South Korean consortiums have won

four contracts worth SR642m while other

national companies won five contracts worth

SR613m, NWC said.

SAUDI OIL COMPLETES$100BN EXPANSION PLANSaudi Aramco has said it has completed a

$100bn investment programme launched over

the past few years to expand the kingdom's

hydrocarbon industry. The funds were

channelled into oil and gas output capacity

expansions, petrochemicals, refining and

associated projects, the state-owned firm said.

The investment programme has added nearly

3.8 million barrels per day (bpd) to the

kingdom's crude output capacity, including

around two million bpd in 2009 alone, it said.

RIYADH EXHIBITION COMPANY’SSTONE-TECH SHOW SET FOR RECORD

Jotun Paints, one of the world's leading

producers and suppliers of paints and

coatings, announced that it has secured a

massive contract to paint the ‘King

Abdullah Financial District’ (KAFD), a

state-of-the-art and fully self

contained centre for doing

business and facilitating

investment and enterprise

currently under construction

in Riyadh, Saudi Arabia. The

high profile undertaking,

which will involve paint

work on the 3 million sq.

metre-financial centre, which

is scheduled for completion

by the end of 2013, is part of

manufacturer’s aggressive

growth strategy in the

region.

Envisioned as part of the

Kingdom’s overall economic

diversification program,

KAFD is being built by Hill International,

with Omrania & Associates and Gensler &

Associates acting as the project consultants,

and will have a total built-up area of 1.6

million sq. metres. With aims to protect the

structure from the elements and natural

wear and tear, Jotun recommended its

’Fenomastic’ range for the structure’s

interiors and ‘Jotashield’ for the exteriors,

with solvent-free ‘Jotafloor’ coatings to be

used for the floors.

Upon its completion, KAFD will house

the Capital Market Authority (CMA) and

the Stock Exchange (Tadawul), as well as

financial institutions and other service

providers such as accountants, auditors,

lawyers, analysts, rating agencies,

consultants, and IT providers. In addition,

the project will also accommodate a

financial academy for 5,000 students,

offices, hotels, shops, recreational facilities,

waterways, squares, parks, sports arenas,

restaurants and six mosques including. A

monorail system will serve as the main

means of transportation within the

development, while skywalks bridges will

connect all 30 buildings within the

financial district.

JOTUN WIN CONTRACT TO PAINT ‘KINGABDULLAH FINANCIAL DDISTRICT’

SAUDI ARABIA REFINERIESTOP TADAWUL EXCHANGE Riyadh saw its Tadawul exchanged

weakening by 0.27% as the main index closed

at 6,117.21 points. Shares of Saudi Arabia

Refineries Company ended up 2.78% at

SR37.00, slightly recovering from ist free fall

in May when shares lost 27% within a few

weeks. As in the UAE, building and

construction shares performed weaker.

Quassim Cement extended its losses from

Saturday and dipped 4.29% to SR67.00, as the

firm reported a second-quarter profit decline

to SR135.8m from SR148.2m a year earlier

due to "lower prices and falling demand".

SAUDI ARABIAN MININGREPORTS INCREASE IN NETPROFITSaudi Arabian Mining has reported a net

profit of SR31.24m ($8.3m) for the second

quarter of 2010, compared to a net loss of

SR6.56m in the same period a year ago,

Reuters has reported. Operating profit was

SR39.23m in the three months to June, up

from SR29.04m a year earlier. The firm, which

plans to build the world's biggest fully

integrated aluminium complex with US firm

Alcoa, said that profit in the first six months

was driven by lower Islamic tax payments

compared to 2009.

SABIC'S Q2 PROFITS SUFFER DROPSaudi Basic Industries Corp (Sabic) has said

its Q2 net profit rose 177% to SR5.02bn

($1.3bn) compared to SR1.81bn for the same

quarter in 2009, but 8% lower compared to the

first quarter of 2010. The company attributed

the reduced profitability in the second quarter

to a decrease in the prices of major products,

higher feedstock cost, and higher prices of

raw-materials for Hadeed products.

JOUF CEMENT'S $173M IPO FOR LOANSaudi 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, which

started operations in May, Reuters has

reported. About 55.5% of the IPO's proceeds

will go to founding shareholders including

KSB Capital Group, which is also acting as the

financial adviser for the listing along with

state-run National Commercial Bank. The

listing prospectus showed Al Jouf will use

SR171.5m of the proceeds to repay debt and

SR100m to repay unspecified general costs.


ABB, 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’s

intelligent building control system will be

implemented in all the buildings at the

university’s new site, located adjacent to

King Khaled International Airport.

ABB’s KNX-based technology will

allow university facility management to

automatically and remotely control

lighting and shading through one single

interface, enabling significant reductions in

energy usage. KNX is a global standard for

home and building automation control,

designed to increase comfort and energy

efficiency.

“ABB is proud to be a part of the new

campus for Princess Noura Bint

Abdulrahman University project, which

will be one of the largest universities in the

Middle East,” revealed Ali Nazzal, senior

sales and operation manager for Smart

Home and Intelligent Building Controls,

ABB Saudi Arabia. “Buildings which have

implemented ABB’s KNX technology

have reported energy savings of up to 40%.

As the first green building campus in Saudi

Arabia, 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.”

Once completed, the university campus

will be eight million square meters in total,

with approximately three million square

meters of built-up area. The campus will

include an administration building, a

central library, conference centers, 15

academic faculty buildings, several

laboratories, as well as a state-of-the-art

700-bed hospital.

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. Saudi Oger and

ABB worked closely to provide a solution

that would increase comfort levels and

significantly reduce energy consumption.

“We’ve witnessed increasing demand for

smart building solutions in Saudi Arabia,

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, low voltage products business unit

manager, ABB Saudi Arabia. “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.”


SAUDI ARABIA’S FIRST ‘GREEN’ CAMPUS

Final preparations are being made for the

opening of the 2010 edition of Cityscape

Jeddah, Saudi Arabia’s leading real estate

investment and development event, which

will run from June 7 to 9, 2010 at the

Jeddah Center for Forums and Events.

More than 100 local and regional property

investors, developers and service providers

are set to exhibit at the event, which will

occupy 10,000 sqm of prime exhibition

space.

Approved by the Ministry of Commerce

and Industry, supported by the Jeddah

Chamber of Commerce and

Industry, and under the

patronage of HRH Prince

Misha’al Bin Majed Bin

Abdul Aziz, Governor of

Jeddah, Cityscape Jeddah

2010 is expected to revitalize

Jeddah’s role as the Kingdom

of Saudi Arabia’s ‘Gateway

City.’ Many featured projects

are linked to the

comprehensive 20-year re-

development programme

being implemented by the

local government which will

involve development and

rehabilitation work on

Jeddah’s central and historic districts.

Cityscape Jeddah 2010 will reflect the

vibrancy of the Kingdom’s real estate and

construction markets. Jeddah alone offers

numerous investment and development

opportunities through its strategic plan to

build almost a million units by 2030. 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.

“The wait is almost over, and soon the

region and the world will have access to

the top business prospects within the

lucrative Saudi property market via

Cityscape Jeddah. We have put everything

into place to make this a highly successful

edition, and the strong response we have

received so far indicates that the show will

be pulling in record numbers in terms of

attendance, exhibitors, and deals,” said

Deep Marwaha, Director of Cityscape

Jeddah.

Cityscape Jeddah’s 2010 programme

includes the annual Saudi Arabia Real

Estate Investment and Development

Conference, which will be held under the

theme ‘Transparency, Investment Models

and Future Partnerships.’ The conference

will have a more interactive format that

will facilitate a greater number of Q&A

sessions, expert consultations and

information exchange.

More than 40 CEO-level speakers will

discuss vital industry issues during the

event, while over 200 senior-level delegates

will join 12 special panel sessions.

The first night will also feature the 2nd

Cityscape Awards for Real Estate in Saudi

Arabia, where top performers in the local

property sector will be honoured.

CITYSCAPE JEDDAH 2010 SET FOR JUNE 7 OPENING


A delegation from Saudi Economic and

Development Company Limited

(SEDCO), a leading Sharia-compliant

investment management company, recently

observed the workflow of three Elaf Hotels

operating in Makkah, namely, Elaf Kinda,

Elaf Al Khalil, and Elaf Al Masha’er. The

inspection team included Dr. Adnan Sufi,

CEO of SEDCO Holding, Dr. Suhail

Kadhi, Chairman of the Elaf Tourism,

Travel and Hotels Group, and Mr. Ziad Bin

Mahfouz, CEO of Elaf Group, a subsidiary

of SEDCO. The visit aimed to ensure that

hotel operations complemented Elaf ’s

commitment to providing excellent

services according to the highest quality

standards.

Bin Mahfouz voiced the Group’s

keenness in implementing major efforts

that contribute to raising the quality of its

services and hospitality products, which

would highlight the service-oriented

nature of the business. 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. Bin

Mahfouz further emphasized the Group’s

focus on excellence in the hotel and

hospitality field as an effective instrument

for realizing leadership, customer

satisfaction, and long term loyalty.

Bin Mahfouz also noted that the visit

confirmed the commitment of both

SEDCO and Elaf, as represented by Dr.

Sufi and Dr. Kadhi, to continue the

leadership journey the group began around

25 years ago.

“The Group was involved in a

partnership with one of the largest hotel

management companies in the world for

several years. Through our visionary

management and highly motivated

specialized staff, we were able to develop

our internal skills and meet the challenge

of managing our hotels on our own. We are

currently working on establishing and

operating additional hotels across the

country and obtaining authorization from

more international airlines. We shall

continue to provide our individual and

group customers at the local and

international levels with the best quality

services,” said Dr. Kadhi.

“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,” he concluded.


SAUDI BINLADIN GROUPISSUES SUKUKThe Saudi Binladin Group issued a SR700m

($187m) Islamic bond on July 12 through a

private placement to Saudi investors, lead

manager HSBC Saudi Arabia said. The Saudi

Binladin Sukuk Co. issued the sukuk, which

was more than 2.5 times oversubscribed.

EASTERN PROVINCECEMENT 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.

PETRORABIGH AGREESFEEDSTOCK DEALSaudi Arabia-based PetroRabigh is to supply

petrochemical feedstock for a new plant being

built by Saudi Advanced Industries and Tasnee,

Reuters has reported. The company will

provide 100,000 metric tonnes annually of

feedstock for the production of 120,000 metric

tonnes of polyether polyols, used in making

polyurethanes, PetroRabigh said without

giving a value for the deal.

YANSAB POSTS $134M PROFITSaudi-based Yanbu National Petrochemical

(Yansab) has posted SR502.4m ($134m) in net

profit in its first full quarter of commercial

operations, due to higher production and sales,

Reuters has reported. Yansab, in which Sabic

has a 51% stake, has total annual production

capacity of 4 million tonnes of petrochemical

products. Operating profit reached

SR596.04m in the quarter.

AL-KHODARI APPOINTS GIB FOR IPOSaudi 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, Reuters has

reported. The firm will offer 12 million shares,

or 30% of its capital, to the public over the

October 4-10 period.

RED SEA GATEWAYTERMINAL RECEIVES NEWCRANESSaudi-based Yanbu National Petrochemical

(Yansab) has posted SR502.4m ($134m) in net

profit in its first full quarter of commercial

operations, due to higher production and sales,

Reuters has reported. Yansab, in which Sabic has

a 51% stake, has total annual production capacity

of 4 million tonnes of petrochemical products.

SEDCO TEAM INSPECTS WORKFLOW AT ELAF HOTELS

Lerch Bates Inc. has had a presence in

the Middle East for many years. With the

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. As one of the

oldest and largest

consultancy firms in the

world in the fields of vertical

transportation, façade access,

and materials management

materials handling we have

been involved in projects

within the Kingdom for a

significant number of years.

This includes iconic projects

such as the Kingdom Tower

and Al Faisaliah Tower. New projects

include CMA and Tadawul Towers in King

Abdullah Financial District, and other

projects that are still in the design phase.

Our global expertise includes not only the

tall buildings segment, but currently we

have projects in hospitality, residential,

malls and retail, and healthcare in the east,

central, and in the west of the Kingdom. A

recently awarded hospital project in Jeddah

involved providing our extensive

experience to the architectural team on

waste management, loading dock design,

the supply chain, environmental services

amongst other services. Our clients have

come to appreciate our integrated service

offering of all our international lines of

expertise.

As we look into the future, the prospects

are strong for an expansion of our work

and presence with many developers,

architectural firms and project

management teams in the Kingdom.

LERCH BATES EXPANDS BUSINESS INTHE KINGDOM OF SAUDI ARABIA

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T 00 971 (0)4 3494925F 00 971 (0)4 [email protected]

European Head Office7 Bay Hall, Willow Lane, Birkby,Huddersfield, HD1 5EN.England.

T 0044 (0)1484 321000F 0044 (0)1484 321001www.planet-group.co.uk

SAUDI ARABIA AND FRANCESET 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.

Analysts now expect the agreement to be

inked during the upcoming state visit of King

Abdullah to France.

ARAMCO INVITED WASIT PLANT BIDSSaudi Aramco has invited companies to bid

for the construction of the biggest gas plant in

the kingdom, Reuters has reported, citing

industry sources. Aramco has given no cost

estimate for the Wasit plant, but industry

sources said it would cost between $6bn and

$8bn. Bidding is to close by September 29, and

the contract will probably be awarded in

January, the sources said.

SAUDI KAYAN TO BEGIN NEWCOMPLEX OPERATIONS IN Q3Trial operations at the main units of Saudi

Kayan Petrochemicals new complex are

expected to start in the third quarter of this

year, Reuters has reported. Located in Jubail,

the complex is to have an annual production

capacity of 6 million tonnes of petrochemicals

including ethylene, propylene and ethylene

glycol. The company said in April the

complex's main facility, an ethylene cracker,

would start operations in the second half of

this year with other units to follow slowly

through in 2012.

YAMAMAH CEMENT Q2PROFIT CLIMBS 16%Yamamah Saudi Cement Co has said that

higher sales helped raise second-quarter profit

by 16%, Bloomberg has reported. Net profit

rose to SR192m from SR165m in the year-

earlier period, the company said in a statement.

SAUDI SIPCHEM Q2 PROFIT SOARSSaudi International Petrochemical Co

(Sipchem) has said its second-quarter net profit

jumped almost 19-fold to SR87.7m ($23.4m)

from SR500,000 in the same quarter a year

ago, Reuters has reported. Higher production

of methanol and butanediol combined with

improved prices were behind the profit rise,

Sipchem said.


The corporation was established in 1946

by the three sons of Abdullah Juffali:

Ebrahim, Ali and Ahmed. E.A. Juffali &

Brothers began its business by venturing

into the fields of electric power,

communications and cement.

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. It then moved on

to manufacturing some of the products

that it had imported.

Juffali became involved in various

commercial fields, i.e. printing with

Heidelberg, computer with IBM, cars &

trucks with Mercedes-Benz, auto parts &

accessories with Bosch, tyres with

Michelin, heavy equipment used

in road works, loading & off

loading with Liebherr and

Demag, tractors and agricultural

equipment with Massey

Ferguson, as well as many others.

Activities extended to

transportation and freight inside

and outside the Kingdom

through associations with K_hne & Nagel,

land line and mobile phones with Ericsson,

while in cooling, air-conditioning and

maintenance, it formed links with Carrier,

Kelvinator and Electrolux. In the field of

chemicals, Juffali formed partnerships with

Dow Chemical, DuPont and others.

Juffali continued to involve itself in

various pursuits such as petroleum well

drilling collaborating with

Pool, prefab steel building

with Butler, projects

establishment with Fluor,

insurance with Munich

Reinsurance, cables welding

with Raychem, medical

equipment with Siemens,

technical equipment used in

workshops with Bosch and

others, as well as cleaning equipment

imported from Karcher.

In the field of industry, Juffali established

a number of plants through licenses that

were acquired from the manufacturing

companies for the production and

assembly of trucks, tractors, air

conditioners, refrigerators, steel buildings,

heat insulating materials, industrial

adhesives, sinks & hard surfaces and cable

welding material.

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.


E. A. JUFFALI & BROTHERS - A NAMEASSOCIATED WITH QUALITY

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, according to

major regional and international real estate

services firm Asteco.

“Over the past year

sterling peaked at $1.69 in

August 2009 and has steadily

declined against the dollar to

a 12 month low of $1.43 in

May this year. It has climbed

in recent weeks fluctuating

around the $1.50 mark.

However with the UK’s

national debt of over £1

trillion growing by £167.9

billion (11% of GDP) this

year alone and interest

payments next year of £42

billion, it is easy to

understand the pressure

sterling is under,” said

Richard Angel, Head of International

Investment at Dubai-based Asteco.

International buyers are the lifeblood of

this market sector, accounting for 63% of

all prime central London buyers, since

2006, on purchases of £5 million and over.

These high net worth individuals have

rebuilt their wealth by around 20% over

the past year. Comparing exchange rates

year-on-year, investors from the GCC will

save a cool £1 million on a property

priced at £6 million.

The latest analysis from property adviser

Savills – Asteco’s UK partner – found

super prime properties, which average

around £5 million, rose by 1.3% and are

now just 5.5% from peak, suggesting a

resilience that is based almost exclusively

on low stock levels and the sector’s appeal

to international buyers. Ultra prime

properties, which average £15 million and

above, grew by 1.5%, but that is on the

basis of a delayed recovery (following later

falls), and values remain –15.8% from peak.

“With the majority of Savills UK web

visitors living within the GCC, we are

expecting a steady flow of enquiries from

prospective investors throughout the

region over next few months,” added

Angel.

MID-EAST INVESTORS SAVE £1MILLION ON LUXURY LONDON HOMES


Global opportunities, investment

security and regional growth provide the

theme for this year’s three-day Cityscape

Global Real Estate Investment

Conference, which takes place at the

Dubai International Convention and

Exhibition Centre on 4-6 October 2010.

The keynote address will be given by

Thomas J Barrack Jr, Founder, Chairman

and CEO of Colony Capital a private

equity real estate company headquartered

in Los Angeles, California. During his time

as chairman, Barrack has invested

approximately $45 billion in assets. He will

be speaking about ‘Driving international

investment in challenging times’.

“Capitalism is soaring in Asia, the

Middle East and Africa and populism is

deteriorating the competitive advantage of

the developed world. The financial world is

in frenzy for yield as a result of zero per

cent interest rates and a total abandonment

of risk premiums. This is a good time to be

patient and stick to what you know.

Relationships and trust will return as key

attributes of investment acumen,” he said.

Following Barrack, delivering the

keynote presentation will be Sam

Chandan, Global Chief Economist, Real

Capital Analytics and Adjunct Professor of

Real Estate from the US-based Wharton

School, who will assess the prospects for

sustainable global economic recovery and

forecast economic trends for 2011 and

beyond.

“In real estate markets, in particular,

constraints on the availability of credit,

certain government policies, and finite

opportunities for liquid investors to

acquire high quality, 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,” he said.

Day two of the conference will be

dedicated to examining growth in the

MENA (Middle East North Africa)

regional markets, assessing economic

outlook and how the region is faring

compared to the rest of the world.

Specifically the sessions will focus on the

potential regional economic powerhouses,

such as Saudi Arabia, Abu Dhabi and

Egypt. It will also cross reference the

investment potential and returns from

hospitality, infrastructure and residential

property, as well as examining Islamic

financing options.

“Investing overseas is often difficult

when faced with fluid and complicated

investment and tax regimes, rules and

regulations. 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,” said Chris Speller, Cityscape

Group Director.

Other issues to be addressed on day three

include a comparison of developed,

emerging and frontier markets and the

opportunities, risk-adjusted returns and

exit strategies for international expansion.

Three prominent global investors will also

go head-to-head pitching for the securest

location or strategy for investing US$100

million.

A number of world-class speakers will

make the journey to Dubai for the

conference, including; Ethan Penner,

President and founder of CBRE Capital

Partners; Naresh Naik, Executive Director,

Morgan Stanley, India; Brian D. Chinappi,

Managing Director, Global Head, Principal

Finance Real Estate, Standard Chartered,

Hong Kong; and Jean-Michel Six, MD &

Chief European Economist, Standard &

Poor’s, France.

The Real Estate Investment Conference

will run in parallel with the World

Architectural Conference and both

conferences run alongside the Cityscape

Global exhibition. This year, 2010, 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.


ZAIN SAUDI'S Q2 REVENUES DOUBLEDZain Saudi Arabia posted its lowest quarterly

loss since it started operations two years ago,

Reuters has reported. The firm made a net loss

of 632 million riyals in the second quarter,

down from 857 million riyals a year earlier.

"The reason of the decrease in the second-

quarter's net loss is the wider customer base

which rose noticeably during the second

quarter, exceeding 7 million customers," Saad

al-Barrak, Zain Saudi's chief executive said in a

statement. "The gross profit margin rose to 42

percent against 19 percent for the same period

in the previous year," he said.

SAUDI ANNOUNCES $100BNTRANSPORT PLANSSaudi Arabia's General Investment Authority

(Sagia) has unveiled plans to spend $100bn on

developing 19 transport projects over the next

10 years, Meed has reported. The list of projects

includes building five ports, three airports,

three railways, three major highways, and five

logistics centres. Sagia said it also plans to

increase the kingdom's ports capacity and

attract port operators. Jeddah Islamic Port

alone could increase capacity by 30% to 35%.

SAUDI RAILWAY PROJECTRECEIVES BIDDERSSaudi 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, Reuters has reported.

The contract will include construction of

railway tracks, installation of signal systems and

telecommunications as well as the

procurement of rolling stock and equipment. It

will also include infrastructure maintenance for

the project for 12 years. "SRO has announced

that Al-Rajhi Alliance and Al-Shoula

consortium have submitted their technical and

financial offers to Saudi Railways

Organization," the organisation said in a

statement.

RED SEA GATEWAYTERMINAL RECEIVES NEWCRANESSaudi Arabia's Red Sea Gateway Terminal

(RSGT), at Jeddah Islamic Port (JIP), has

received two quayside container cranes and six

tandem lift gantry cranes (RTGs).

Manufactured by Zhenhua Port Machinery,

the new cranes bring the total number of

cranes currently serving the gateway terminal's

four berths and 50,000TEU stacking yard to 8

QC and 26 RTGs.

RISK APPETITE FOR GLOBALINVESTMENT IN FOCUS AT CITYSCAPE

PHASE THREE OF AL BAYADER EXPANSIONGOES LIVE Al Bayader International, manufacturer

of comprehensive packaging solutions,

has commissioned a state-of-the-art

manufacturing facility within its Jebel Ali Free

Zone (JAFZ) logistics facility. The facility, part

of a three-year, $22m, expansion programme,

now includes a plastic manufacturing facility

capable of producing up to 8000 tonnes of

plastic disposable products per year.

MAADEN TO MEET LENDERSOVER $10.8BN ALUMINIUMPROJECTSaudi Arabian Mining Co (Maaden) and

Alcoa have met with lenders in Dubai to work

on the documentation for the financing of its

$10.8bn aluminium project, Meed has

reported. The project comprises of an

aluminium smelter and a rolling mill, with later

phases including a bauxite mine. The smelter

will be developed in Ras al-Zour, with the

bauxite mine and refinery at Zubairah, in

Qassim Province in the centre of Saudi Arabia.

Once complete, the complex will have a

refinery with capacity of 1.8 million tonnes a

year (t/y), a 740,000-t/y smelter, and a 4

million-t/y bauxite mine.

SIEMENS TO MODERNISESAUDI IRON ARC FURNACE Saudi Iron and Steel Co (Hadeed), a

subsidiary of Sabic, has awarded Siemens VAI

Metals Technologies a contract to modernise

its electric arc furnace. Electric Arc Furnace

No 1 in Hadeed's steel works in Al Jubail will

be fitted with a new hydraulic system, lifting

columns for the carbon electrodes and current-

conducting electrode arms. An integrated

automation solution based on Simatic S7 will

also be installed in the Al Jubail works. The

project is scheduled to be finished in the fall of

2010.

SAUDI KAYAN SAYS COST OFCHEMICALS COMPLEX MAYRISE 24% Petrochemical firm Saudi Kayan, a unit of

Sabic, 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,

Bloomberg has reported. The company also

said it started the trial run of its olefins plant at

the complex.


Aedas continues its MENA expansion,

opening it’s 39th office in Riyadh,

Kingdom of Saudi Arabia. The office will

be expanding in market sectors including

masterplanning, hospitality, transport,

healthcare, education, civic and sports

projects and will be led by Country

Manager, Charles Collett. As part of their

continued expansion, Aedas will open

further offices in the Kingdom, with the

next office planned in Jeddah. Supported

by their Middle East hub office in Dubai,

highly experienced senior staff will be

located in Riyadh and Jeddah to serve

projects throughout the Kingdom.

“We are enthusiastic about the Aedas

office opening in Riyadh, re-affirming our

efforts in the region. 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.” Charles Collett –

Country Manager, KSA

Aedas is the leading architectural

practices in the world, providing

international expertise combined with a

deep knowledge and understanding of

local cultures. Their designers are

committed to contributing and leading in

the societies for which they design, taking

a holistic approach to sustainability which

is particularly important in the challenging

climate of the Middle East. Aedas are

committed to improving the natural and

built environment, which is reflected in

their designs for all project types including;

civic, commercial, education, healthcare,

hotels & resort, industrial, residential, retail,

sports and transport projects. Aedas have

over 150 highly qualified staff in the

Middle East, with offices in Abu Dhabi,

Bahrain, Doha, Dubai and Riyadh,

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.

The project is designed to be a sustainable

and eco-friendly oasis in Jeddah.


AEDAS OPENS IN RIYADH

Danube Building Materials, the leader in

construction, building materials and shop

fitting industries, 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. This follows the

opening of the first ‘Danube

BUILDMART’ branch at in India, which

marked the leading company’s 22nd global

store. Specifically, the company revealed

that it expanding to Qatar and other parts

of Saudi Arabia and Oman, as well as in

China, where it currently has one of its

major manufacturing plants.

Initially established as a building

materials supplier, Danube transformed

into a one-stop shop concept called

‘Danube BUILDMART’ in 2009, offering

products from a host of

reputed vendors as well as

expert product and design

advice under a single roof.

Today, there are a

total of nine ‘Danube

BUILDMART’ stores in

operation, 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.

Including its non-

‘BUILDMART’ stores, the

company has a total of 22

global retail facilities – 16 in the UAE, two

in Oman, one each in Bahrain, Saudi

Arabia and two in India as well. The

company has also invested AED 50 million

in a new 1.3 million square feet

manufacturing facility in TechnoPark,

which will be functional by early 2011.

“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, we are expecting the demand

for building materials in the Middle East

and Africa to witness a significant increase

this year,” said Rizwan Sajan, Chairman,

Danube Building Materials. “We have

already made massive investments toward

additional manufacturing hubs to boost

our production and sufficiently address the

expected rise in demand, and now our

focus is to establish highly convenient

‘Danube BUILDMART’ stores in the most

strategic locations within our target

regions.”

Danube has also recently launched an

AED 15 million 'Danube BUILDMART'

in Ibn Battuta Mall, Dubai, thereby

marking its third retail branch to be based

within a mall, which is a new concept

pioneered by the company. Spanning an

area of 15,000 sq. feet, 'Danube

BUILDMART' in Ibn Battuta Mall offers

products from a host of reputed

international and regional vendors under a

single roof, installed in an actual home set-

up to allow customers to enjoy a more

personalised shopping experience with

excellent service and design assistance.

“Staying true to our commitment to

being the pioneer in the industry, we are

taking major strides to acquire major

market share thought the MENA region in

the next five years. 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,” concluded Sajan.

Driven by the significant growth it has

witnessed in the recent years, 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.

DANUBE OUTLINES GLOBALEXPANSION FOR ‘BUILDMART’ BRAND


14 SAUDI PROJ3CTS GULF CO-OPERATION SYMBOLS CONTRACTING CO. LTD.

WHEN WAS THE LAST TIME YOU FELTINSPIRED BY YOUR CONSTRUCTIONPROVIDERS? WELL, SINCE 1978 GULFCO-OPERATION SYMBOLSCONTRACTING CO. LTD. (GCS) HASBEEN DISTINGUISHING ITSELF FROMITS COMPETITORS BY PROVIDING ALEVEL OF SKILL, EXPERIENCE ANDPROFESSIONALISM THAT HAS SET ANEW BENCHMARK FOR THEINDUSTRY. INDEED, GCS CAN DELIVERA COMPREHENSIVE PORTFOLIO OFSERVICES ACROSS A WIDE RANGE OFSECTORS, INCLUDING GOVERNMENT,THROUGHOUT BOTH THE KINGDOM OFSAUDI ARABIA (KSA) AND OTHERCOUNTRIES IN THE GULF REGION.

GCS’s expertise is far-reaching, taking in

general engineering, procurement and

construction; civil works; pre-engineered

building; electromechanical works;

earthworks; general infrastructure, pipeline

works; structural steel works; installation of

water and sewer lines; prefabricated office

and accommodation buildings; operation

and maintenance services; and catering a

medical services. Whatever your challenge,

therefore, GCS has the knowledge, 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, which are not

descriptions of the work it carries out or

the strategies it employs to accomplish its

mission. Instead, these values underlie the

GCS’s work; how management and

employees interact not only with each

other, but also with their clients and

suppliers. GCS believes in forming strong

relationships and partnerships, and through

this it gains a clear understanding of its

clients’ goals and objectives and develops

solutions that will meet and often exceed

expectations, while still providing best

value. Honesty, integrity and transparency

are included as standard.

EVERY PROJECT EXPERTLYMANAGED FROM BEGINNING TO ENDBecause of its enlightened approach to

business, GCS has become an important

partner in the booming infrastructure

development of KSA, and has carried out

many important and prestigious projects.

These include Mina General Hospital

and Health College, a 500-bed facility at

Makkah Al Mukarammah. Here, GCS’s

expertise was called upon for a wide range

of disciplines within construction and

procurement, including skeleton, ready

mix concrete, construction of continuous

footings (0.9, 1.0 and 1.3m in depth),

columns, ground beams and ground slabs,

excavation, insulation, and design,

manufacture and erection of pre-stressed

hollow-core slabs for an area of 62,000m2.

In Aziziah, Al Khobar, GCS has

successfully completed a very different

project; the Al Zomorod Beach Resort.

This stunning development called for a

broad spectrum of design, procurement

and marina work, incorporating such

specialisms as dredging and construction of

the shoring side (rock protection of

15,000m2), in addition to the construction

of 75,000m2 road works, construction of a

300m2 precast building, and the

construction of manholes, sidewalks,

kerbstones, pipe sleeves and culverts.

It takes total commitment to ensure the

success of a premier project such as

Zomorod Beach Resort, and GCS offers a

service with proven expertise and tested

reliabilities that lead to an ever-growing

INSPIRING PERFORMANCE,QUALITY RESULTS


GULF CO-OPERATION SYMBOLS CONTRACTING CO. LTD. SAUDI PROJ3CTS 15

record of accomplishment and achievement.

As with most things in the construction

sector, everything comes down to the

strength and trust of it relationships; client,

contractor, and supplier. It is hard to quantify

yet absolutely critical in the progression and

development of each and every project that

the company undertake.

The TR temporary camp facilities and

services at the Hawiyah Gas Plant Expansion

for Saudi Aramco (Tecnicas Reundias) is

another excellent example of this, with GCS

carrying out a wide range of work, included

detailed engineering and provision of all

necessary permits and approvals, material

procurement, material packing and transport

to site, erection, civil works, testing and

commissioning, and the supply and

maintenance at site of spare parts for a period

of 33 months. It was an extensive brief, but

one that GCS carried out with practiced

ease.

The scope of works for Saudi Aramco

encompassed the construction of 4000m2 of

prefabricated units, offices (including

company and contractor main site office),

satellite office, clinic, warehouse and other

facilities. All units were fully furnishing and

incorporating air conditioning systems. The

contract also included the construction of a

steel structure warehouse and complete site

development, taking in utilities such as

electricity, water, sewers and roads

For the same client, GCS undertook the

construction of permanent accommodation

facilities at Qurayyah Plant. These were of

high specification and included support

buildings, kitchen, recreation, tent, mosque

and laundry buildings. This contract

incorporated landscaping, an irrigation

system, catering, housekeeping, daily

refreshments and laundry services, disciplines

that are not within the expertise of many

construction companies. GCS, though, is no

ordinary construction company.

The client is, as always, every contractor’s

most precious asset and it is clear that GCS

are willing to earn every last part of that

respect. Each project is efficiently managed

from beginning to end, and is supported by

an invaluable balance of creativity and

practicality, ensuring that the client gets

exactly what they require. GCS believes in

putting the client first, and their

craftsmanship, quality, and attention to detail

reflect that.

VAST RESOURCES AND A CARING APPROACHGCS enjoys the support and resources of

its parent, the Sadeen Group, which for over

30 years has been renowned for excellence in

several specialist fields, such as engineering

consultancy, business travel and investment.

With its head office on Amman, Jordan, and

other facilities located throughout the Gulf,

it is committed to completing projects on

time, to the highest standards of

workmanship, and safely – all aims shared by

GCS.

Indeed, GCS recognises the importance of

planning health, safety and environmental

requirements into a project at the earliest

possible stage if injuries and accidents are to

be avoided. It is a key aspect of the

company’s philosophy. First and foremost it

has a strict policy of ‘zero accidents’,

rigorously training all of its staff and

employees to take this culture on board.

GCS’s commitment to health and safety sets

a standard for the industry, with the company

making safe working conditions for all of its

employees, subcontractors and the public a

priority.

DIVERSITY, QUALITY ANDRELIABILITY

GCS routinely proposes

suggestions to improve

quality, expedite project

completion, save money and

provide the best value for the

client. The company’s

managers study new jobs

thoroughly; analysing the

project, anticipating

complications, devising

strategies, making plans. They

draw on the advice of experts

within the company and

beyond when there are

complex technical problems

to solve.

Diversity, quality, and

reliability are the hallmarks of

GCS. Separately, they

effectively characterise the company. The

first defines its capabilities, the second, its

workmanship, and the third, its commitment

to those for whom it works. Together they

enable the company to provide clients with

quality-conscious, cost-effective project

planning, management and execution.

For further information, please contact

GCS on +9663 8672275. Its staff will be

more than willing to accommodate your

enquiry. You are also encouraged to visit the

website, which will keep you informed of all

of GCS’s news and projects. The address you

need is www.gcscontracting.com.


16 SAUDI PROJ3CTS SAUDI MORTGAGES

FOR A LARGE COUNTRY WITH A BIGPOPULATION, HOME OWNERSHIP INSAUDI ARABIA IS COMPARATIVELYSMALL. ONLY AROUND 35% OF SAUDIFAMILIES OWN A HOME AND, AS ANINDUSTRY, HOME LOANS MAKE UPJUST 2% OF THE COUNTRY'S GDP.COMPARE THAT TO MALAYSIA,WHERE THE MORTGAGE SECTORMAKES UP 20% OF THE GDP. THEPROBLEM IS EXACERBATED BECAUSECONVENTIONAL MORTGAGES ARENOT CURRENTLY AVAILABLE IN THEKINGDOM.

However, that should change with the

introduction of a mortgage law, which is

going through its final stages of approval.

This will see Saudis able to get

conventional mortgages and give the

housing sector a much needed boost.

One source claims Saudi Arabia needs

800,000 new homes by 2012. Another

suggests the figure is nearer to 300,000. A

third says it is actually one million. The

government is predicting a shortage of two

million by 2015.

Virtually 49% of the Kingdom’s

population is between 20-34 years of age,

but to buy homes they need long-term

financing options such as mortgages. With

a per capita gross domestic product of

$14,871, young families and low-income

subsectors such as labourers, do not need

luxury, they need affordability. Part of the

difficulty, though, 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.

Saudi Arabia’s first mortgage law, set to

be enacted by the end of the year, is

expected to amplify demand for housing

by up to 50%, according to a report by the

Kuwait Financial Centre.

Companies now providing home

finance in Saudi Arabia include the Arab

National Bank, SABB and Al Rajhi Bank,

as well as Saudi Home Loans, a venture

backed by Dar al-Arkan Real Estate

Development, Saudi Arabia’s largest

developer by market value. They could be

joined by UAE lenders looking to generate

fresh revenues during an acute housing

slump at home.

Amlak, the UAE’s largest Islamic home

lender, announced plans to expand in

Saudi Arabia before the UAE Government

announced that it would be restructured

along with Tamweel, its nearest

competitor, last November. Noor Islamic

Bank, a Sharia-compliant lender formed

last year, is also looking to expand in the

region.

“Saudi Arabia is a key market to have a

presence in,” says Hussain al Qemzi, the

group chief executive at Noor Islamic

Bank.“If opportunities become available

for Noor to be present in Saudi Arabia,

then we would certainly extend our range

of Sharia-compliant banking and takaful

[Islamic insurance] services to the Saudi

market.”

Saudi Arabia is also attracting increased

interest from UAE developers, led by

Emaar Properties, the region’s biggest

developer. Its Saudi division is exploring a

significant master-planned development in

Riyadh, but has yet to make a final

decision on the project. Emaar Middle

East, a venture between Emaar and the Al

Oula Group in Saudi Arabia, is already

developing the Jeddah Gate and Al Khobar

lakes projects.

AS THE MORTGAGE LAW GETS NEARER


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.

“We probably will see a lot of focus on the

Saudi market from Gulf lenders,” says Miles

Payne, a partner at the international property

consultancy Strutt and Parker. “The main

driver is that the Saudi market is untapped; it

hasn’t really had a mortgage market up to

this point. The country has such a young

population and the drive for home

ownership is huge.”

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 trillions of dollars worth of projects

have either been shelved or scaled down in

other GCC states, the Saudi Arabian

construction and property sector has come

through the financial crisis in better shape

than a good number of its neighbours. The

country’s population is expected to expand

by another 33 million by 2020. 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.

“There are already quite a few companies

looking to move into Saudi Arabia as the

mortgage law is close to being enacted,

providing lenders with a lot more peace of

mind in protecting assets,” says Chris

Dommett, the chief executive of John

Charcol, a mortgage advisory firm based in

Dubai. “I know of at least three bodies

looking to set up independent mortgage

companies in Saudi now. The market will be

booming in the next five years.”

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.

“In a region where we went through a

huge boom and bust cycle in real estate, a lot

of plays are being replicated in Saudi Arabia,”

says John Sfakianakis, the chief economist at

SABB. Dr Sfakianakis says a major concern is

that Saudi real estate will be oversold

to the international market, fostering

speculation.“The tendency will be for

foreigners to overplay real estate stories and

overshoot, causing local prices to go up,

which could create certain challenges for

locals actively seeking to buy houses,” he

says. “Unless the mortgage law has real teeth

to protect the lenders coming in, it will be a

difficult environment.”

“The pending issue is if customers can

afford to buy our products,” said Ghassan

Rida Khalifa, Vice President, Commercial,

Kinan International Real Estate

Development.

While developers may be familiar with the

income levels of locals, they still need to

understand how much of that monthly wage

they are prepared to put by for mortgage

payments.

Furthermore, for Saudi Arabia the

mortgage law brings with it tricky cultural

issues that first need to be resolved, 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), or how to finance off-plan

sales.

The difficulty for developers will be

keeping up with demand, but by the same

token banks must prepare for the torrent of

mortgage applications. Banks have credit

limits for sectors like real estate and have to

diversify their exposure across different

industries. This means raising additional

financing for mortgages.

“The financing demand of the real estate

sector in Saudi Arabia will be so large that

these limits will be reached. The Saudi

banking sector is not large enough to take all

these mortgages on-balance in their books,”

says Michael Gassner, Division Head, Islamic

Banking Group at Bank Aljazira.

“There needs to be more analysis and

forecasting, but I think they will run out of

real estate fund options pretty fast; in the

next two to three years,” he adds.

Exciting times then … but also extremely

challenging.


18 SAUDI PROJ3CTS ARABTEC SAUDI ARABIA

ARABTEC SAUDI ARABIA IS INALLIANCE WITH CPC SERVICESCOMPANY, A MEMBER OF THE SAUDIBIN LADEN GROUP AND AL - MAWRIDHOLDING, A LEADING SAUDI GROUPENGAGED IN DIVERSE INVESTMENTSAND BUSINESS ACTIVITIES IN THEKINGDOM OF SAUDI ARABIA.

With a booming construction sector,

Saudi Arabia needs one million new

houses by 2014 to cater for population

growth and offset shortages in residential,

commercial, retail and hospitality property

in Riyadh, Jeddah, Mecca, Medina and the

Eastern Province.

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. Arabtec’s projected turnover

for its first year in Saudi Arabia is in excess

of three billion riyals, and will rise to up to

five billion riyals within three years.

Arabtec Holding member companies

have been leaders in the region’s

construction for over 35 years and have

completed many prestigious projects, the

most well know of which is the Burj

Khalifa in Dubai; the worlds tallest

structure.

In Saudi Arabia, 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. The

project has an aggressive timeline for

construction completion of 18 months,

and comprises of 46 buildings: 10 buildings

housing four bedroom apartments, another

26 buildings designed for three bedroom

apartments, and the remaining 10 buildings

composed of two

bedroom apartments.

Each of the buildings is a

ground plus five storeys.

The project has a total

floor area of 240,000

square metres. In

addition, Arabtec Saudi

Arabia has introduced

the use of Polypods to

this development.

With a value of SAR

1.3 million, the PNU project has called for

extensive manpower and Arabtec Saudi

Arabia has employed almost 6500 people

on the job, incorporating 2400 Arabtec

personnel, 275 Arabtec staff, and 3700

subcontractors and workers.

Moreover, Arabtec Saudi Arabia is

committed to ensuring that everyone goes

home safe at the end of the day - nothing

QUALITY WORKMANSHIP,UNRIVALLED CUSTOMER SERVICE


ARABTEC SAUDI ARABIA SAUDI PROJ3CTS 19

is more important than the safety of

employees and the public. As an organisation

at the forefront of the industry, Arabtec Saudi

Arabia thoroughly pre-plans all safety

requirements and instructions, paying careful

attention to even the smallest of details. It

also requires the same from its

subcontractors, with the company

continuing to scrutinize and re-evaluate the

safety needs for each and every project,

including pre-task preparation as regards job

hazard analysis.

With every property or structure

constructed, Arabtec Saudi Arabia is altering

the way people perceive the industry. It is

setting a new standard in quality

workmanship and customer service, and is

continually encouraged by the feedback it

receives from its many esteemed clients,

which today demand more in terms of

know-how, innovation and value: Arabtec

Saudi Arabia is committed to delivering on

all fronts.

That is why the company is active on a

number of projects; in addition to the PNU

project, for instance, it is about to submit

offers on the SANG project (5000 villas) and

on a correction facility (approximately 160

separate buildings). Furthermore, it is

currently tendering for Al Mada Towers and

is pre-qualifying for the SV aircraft hangars.

In spite of an immense slump in the global

economy, Saudi Arabia continues to be a

focus for substantial investments and remains

a chosen destination for real estate

developers around the world. This real estate

investment is expected to touch in the order

of US$ 400 billion in 2010, up by nearly

33% from 2009. Residential real-estate will

account for the bulk of investments. The

recovering oil prices, 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.

Arabtec Holding CEO is very aware of the

importance of the Saudi market to the

Arabtec Holding. “Our teams are very

excited about our prospects in this new

market.” stated Riad Kamal CEO of Arabtec

Holding.

Arabtec Saudi Arabia is a name that will be

seen more and more in the Kingdom.

Arabtec has years of experience and

expertise to draw and on and brings great

diversity of service to the market.


In a world where we have more products, services and

increased competition, more information and less time, it is

important to be able to rely on one effective source for all the

latest news, trends and business developments.

With in-depth profiles, interviews, special reports and up-to-

the-minute news Construction Magazine is the publication you

should see and be seen in!

A FOUNDATION OFNEWS, REVIEWS

& PREVIEWS

20 SAUDI PROJ3CTS UNITED GULF STEEL


AT A TIME WHEN MUCH OF THEWORLD’S STEELMAKING CAPACITY ISBEING INCREASINGLY BASED INCHINA, IT IS REFRESHING TO SEE THELEADING MANUFACTURER OFMEDIUM SECTION STRUCTURALSTEEL PRODUCTS IN THE ENTIRE GCCREGION DOING SO WELL.

United Gulf Steel, based in Saudi

Arabia's largest industrial city, Al Jubail,

with a production capacity of

450,000MTPA, supplies a broad portfolio

of medium section products to discerning

clients within the GCC and neighbouring

export markets of Iran, Egypt, Jordan and

North Africa. This includes

IPE/IPEA/IPEAA beams (80mm-

200mm) UPN/UPE channels(50mm-

200mm), equal angles(40mm-150mm), flat

bars(50mm-300mm), square bars(24mm-

80mm) and round bars(30mm-90mm). All

these sections are manufactured to

international quality standards and

designed to suit local market needs.

Having been set up in the year 1998 by

a group of leading industrialists from the

GCC countries, 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, capable of manufacturing long

products conforming to

stringent international

quality standards.

Mr. Mazen. K. Allahiq,

Chairman & Managing

Director of UGS is a

visionary business leader

who is considered a

pioneer in his chosen

fields of business. United

Gulf Steel boasts the

largest medium section

steel plant in the GCC,

which utilizes the latest

technology and

machinery to ensure that

products and efficiency are second to

none.

The UGS Section Mill is based on the

most modern up-to-date state-of-the-art

Rolling Mill technology of M/s. SIMAC,

UNITED GULF STEEL SAUDI PROJ3CTS 21

A WORLD-CLASS PRODUCER OFSTRUCTURAL STEEL SECTIONS

SMS Meer SpA is in the market of rolling mills for longproducts since more than 40 years, designing,manufacturing, installing and fully commissioning hot rollingmills for long products (rebars, small and medium sections,merchant bars, wire rods) for carbon steels, special steels,etc.

The company was founded in 1969 and from 1991 it formsan own product division within SMS Meer Group – Germany– closely cooperating with the division for long productstechnologies in Mönchengladbach.The obvious advantageof this company is the highly specialized production line,which result is sound engineering and increased reliability tothe point that some specific equipment or systems are oftenexemplified with the expression: “similar to the SMS type”, inthe nomenclature currently used between people of theSteel Business.

A great number of innovations to meet the market demandsand to be competitive in the steel products sectorcontributed to strengthening SMS Meer’s reputation and tomaking its name known all over the world.

Here are just a few of the milestones:• Development of the HSD® High Speed Delivery System• Development of the housingless stand, over 900 nowinstalled worldwide• Development of the universal housingless stand for beamsup to 300 mm• HSD® system reaches speed of 40 mps, certified bycustomer•Development of VCC Vertical Compact Coiler technology

Since many years, SMS Meer SpA has successfullysupplied turnkey plants, including auxiliary and back upplants, granting as well tailor-made assistance withcompetent supervisors of all the various disciplines(mechanical, electrical, automation, roll pass design, etc.)during the commissioning phase and the plant lifetime. Sincethe beginning, the company’s guiding principle has remainedthat of a constant focus on technology, innovation andspecial attention to product and service improvement.

SMS MEER SpAVia Udine, 10333017 Tarcento (Udine) – ItalyPhone: +39 0432 799111Fax: +39 0432 784556E-mail: [email protected]: www.sms-meer.it/com

SMS MEER - Dubai c/o SMS Gulf FZEDubai Airport Free Zone Building 4E, Office G16, Dubai, U.A.E.Phone: +971 4 204 5010Fax: +971 4 204 5017E-mail: [email protected]: www.sms-meer.com

MEETING your EXPECTATIONS

Focus on technology, innovation and specialattention to product & service improvement


UNITED GULF STEEL SAUDI PROJ3CTS 23

Italy (now a wholly owned subsidiary of

SMS, Germany), offering significant

advantages in terms of design, quality of

equipment and flexibility of operations

aiming to be a front runner in the GCC area,

not merely for the Medium Section range,

but also for the higher range of smaller

sections. The facility would rank among the

best of current technologies in the world.

By offering customized lengths, a wide

range of sizes and smaller delivery times, it

has become an important supplier to that

market. With its strategic position, and

efficient logistics and support systems, UGS

has been able to respond to market needs on

home ground and other GCC markets.

As a manufacturer of high quality

structural steel sections, UGS serves a range

of large industrial users covering pre

engineered building fabricators, power

transmission and telecommunication tower

fabricators, irrigation equipment

manufacturers, scaffolding and cold drawing

and fastener industries. UGS has a wide

network of major steel stockists spread all

over the GCC region.

The plans for the present and future of

United Gulf Steel are being driven by just

one goal; to be a world-class producer of

structural steel sections. This vision is

tirelessly pursued by the dedicated workforce

and by the company applying the following

principals:

• To constantly upgrade the product range,

keeping abreast with market needs.

• To be the first choice for all customers in

the GCC and to cater to their needs.

• To provide goods and services, and to

continuously keep exceeding the

expectations and meeting the specifications

of customers.

• To involve all employees in enhancing and

maintaining the quality of goods and

services, so as to retain the highest degree

of customer satisfaction.

• To provide the best, in services and quality

of goods, and to provide the highest degree

of customer satisfaction by the involvement

of all employees.

This enthusiasm for achieving excellence

can be seen clearly in way the company

conducts its business.

Having acquired the

coveted EN ISO 9001 : 2000

certification from RWTUV,

Germany, UGS facilities

ensure that the product is of a

consistently high quality so

the customer can have

complete confidence in all

the products supplied.

In terms of future

development, UGS is

committed to become a truly

world class integrated steel

manufacturer providing high

value products. With demand

for steel closely linked to

over all economic activities,

UGS will be further growing its capabilities

throughout the region. Given its

geographical and logistical advantages as

compared to imported steel, UGS will

continue to be a front runner in the industry.


In a world where we have more products, services and

increased competition, more information and less time, it is

important to be able to rely on one effective source for all the

latest news, trends and business developments.

With in-depth profiles, interviews, special reports and up-to-

the-minute news Construction Magazine is the publication you

should see and be seen in!

COVERING THECONSTRUCTION

INDUSTRY

24 SAUDI PROJ3CTS UNITED GULF STEEL

Emaar M

iddle East

World-Class Living in Emaar Middle East’s Saudi Communities

Emaar Middle East is bringing a new lifestyle dynamic to Saudi Arabia

Emaar Middle East is bringing a new lifestyle dynamicto Saudi Arabia by creating integrated communitiesfeaturing all modern amenities. The two communities,Jeddah Gate and Al Khobar Lakes, are currentlyprogressing as per schedule.

Saudi Arabia is projected to need 1.5 million newhomes over the next five years with demand growing ata compound annual growth rate of 3.3%. The key driverfor the Saudi Arabian real estate sector is the growingdemand from its youthful population; more or less inline with the demand projections across the MiddleEast region. Some 60% of the Saudi population,growing at an annual 3%, is under the age of 30. Thegovernment is focused on meeting their growingdemand for affordable luxury.

Short term demand for homes is also robust, withdemand expected to exceed supply by 50,000 unitsannually over the next four to five years.

Despite the unprecedented challenges of the globalfinancial crisis, Saudi Arabia is poised to grow at 4% in2010, and the Kingdom continues to be the one of themost attractive places to do business.

The ‘World Bank’s Doing Business in the Arab World2010’ handbook places Saudi Arabia in the premierposition among GCC states, and the Kingdom recordedforeign direct investments of US$36.4 billion in 2009.

A recent survey by A.T. Kearney said Saudi Arabia’s realestate sector offers among the best investmentopportunities in the world, led by a strong housingdemand, an attractive project pipeline and anexpanding hospitality sector. The report placed theKingdom fourth out of 50 markets in its 2010 RealEstate Global Opportunity Index, ranking among themost attractive emerging markets for investors.

This presents an attractive opportunity for large scaleintegrated developments that offer investmentopportunities in sectors such as malls, hotels andleisure. These developments also have a larger socio-economic role to play by creating new urbancommunities, ushering in new job opportunities andsupporting the growth of ancillary industries.

Emaar Middle East, a subsidiary of global propertydeveloper Emaar Properties PJSC, is comple-menting this growth momentum by developingintegrated master-planned communities thatintroduce a new lifestyle to Saudi Arabia.

Dr Dia Malaeb, Regional CEO responsible forEmaar Middle East, said: “While conforming to theneeds and aspirations of the Saudi population,these projects are thoroughly modern, featuring alllifestyle amenities. The two lifestyle projects, theSR 6 billion Jeddah Gate and SR 4.5 billion AlKhobar Lakes, are currently in advanced stages ofcompletion.”

He added: “The key focus of Emaar Middle East isthe on-schedule completion of all announcedprojects to world-class standards. We have madesignificant progress on all our projects, with thefirst residences in Jeddah Gate and Al KhobarLakes scheduled for handover shortly.”

Emaar Middle East is also developing EmaarResidences at the Fairmont Makkah, distinguishedby its location on the Haram Plaza. The studio, and

one, two, and three-bedroom homes, are located inThe Makkah Clock Tower, a Fairmont Hotel, andpart of Abraj Al Bait.

Dr Malaeb explained: “Through our developments,we are also contributing to the Saudi economy. Inaddition to meeting the growing demand for homes,we have helped create several hundred new jobsand drive the growth of ancillary industries, thusenergizing the local economy.”

The key differential of Emaar Middle East indeveloping the lifestyle communities in SaudiArabia is in following an integrated approach. Thismeans that all the developments are self-sustaining with modern amenities in closeproximity to the homes.

Jeddah Gate and Al Khobar Lakes therefore haveamenities such as community centres, educationalinstitutions, government offices, healthcarecentres, parks, pedestrian walkways, retail outletsand mosques – all carefully planned to offer acomplete lifestyle choice for residents.

Saudi Arabia is projected to need 1.5million new homes over the next fiveyears with demand growing at acompound annual growth rate of3.3%. The key driver for the SaudiArabian real estate sector is thegrowing demand from its youthfulpopulation; more or less in line withthe demand projections across theMiddle East region.

Emaar M

iddle East

Eng. Ahmad Al Kulli, General Manager of Emaar Middle East, said: “Weunderstand the needs and aspirations of our customers, who trust thevast experience of Emaar in delivering world-class integratedcommunities. All our communities uphold the values expected by thecommunity of offering a safe and secure living environment thatrespects of the privacy of individuals and families.”

He added: “Our unique development model of creating integratedcommunities sets us apart by offering residential, commercial andleisure amenities all in one master-planned neighborhood. All ourprojects are progressing as per schedule, employing experiencedcontractors and consultants to achieve the world-class standards ofEmaar. The projects will set a new milestone in the real estate dynamicsof the Kingdom.”

Jeddah Gate: The new heart of Jeddah Having opened to great interest from the home buyer and investors,Jeddah Gate is spread over nearly half a million sq m, featuring severalresidential units, office space and 75,000 sq m of gross leasable areafor retailers.

Located in the centre of Jeddah’s new downtown, Jeddah Gate is in closeproximity to the railroad link between Jeddah and the two Holy Cities ofMakkah and Madina. Community amenities include schools, mosques,community centres and pedestrian walkways. Top-end retailers andseveral food & beverage outlets will function in close proximity to thecommunity.

Among other facilities for people looking for a healthy and holisticlifestyle are swimming pools, fitness centres, children’s play areas, daycare centres and recreational areas. All homes are equipped with thelatest telecom connectivity and feature Smart Home capabilities topromote energy and water use efficiency.

Emaar Middle East launched Abraj Al Hilal, a cluster of three high-riseresidential towers in Jeddah Gate, which achieved an impressive eight-day-per-floor cycle. This is an impressive construction achievement andboasts one of the best construction progress reports in Saudi Arabia.

The eight-day cycle in developing a floor includes much coordinationamong various contractors and consultants, and is executed by slidingsteel shuttering systems for the columns and core walls, and plywoodformwork for the slabs. These facilitate fast installation and dismantlingafter the concrete gains strength.

This is further testament to the on-schedule progress of the project.Jeddah Gate is on schedule to welcome its first residents shortly, thusmarking the evolution of a new downtown for the city.

Al Khobar Lakes: Eastern Province’s pioneering waterfront destination Another key project of Emaar Middle East that is progressing as perschedule is Al Khobar Lakes, set on about 4.3 million sq m and featuring80,000 sq m of serene water bodies. It is one of the premier lakefrontdevelopments and the largest integrated community in EasternProvince.

Emaar M

iddle East

Al Khobar Lakes is only 43 km from King Fahd International Airport andis located in close proximity to Al Khobar City, Dhahran and Dammam.The community features more than 2000 private villas with retail andleisure amenities that are perfect for family living.

The project will have 11 mosques including a Grand Mosque for FridayPrayers, educational complexes spanning over 28,000 sq m, a shoppingcentre, community centre, coffee shops and restaurants, healthcarefacilities and other amenities.

The community centre features a recreation club, swimming pools,nursery/kindergarten, convenience retail, public area, and food &beverage outlets. The retail centre is located on an area of 110,000 sq mand will be an upscale shopping and leisure destination.

Emaar Middle East has also launched Al Nada and Al Ghadeerresidential villages to great interest from investors and home buyers,and work is progressing rapidly for handover of homes shortly.

Emaar Middle East, through its projects in the Kingdom, is thus bringingin a new lifestyle choice while also contributing to socio-economicgrowth.

Emaar Middle East – facts summaryEmaar Middle East, a property development associate company ofglobal property developer Emaar Properties PJSC focused on projectsin the Middle East region, has unveiled several projects in key growthmarkets in the region.

Saudi Arabia is one of the principal markets of Emaar Middle East andthe company has launched two pioneering master-plannedcommunities in Jeddah and Al Khobar. Emaar Middle East is alsooffering serviced residences in the Holy City of Makkah with the EmaarResidences at the Fairmont Makkah.

Emaar Middle East’s pioneering developments in the Kingdom areJeddah Gate and Al Khobar Lakes, both of which have gainedoverwhelming investor response.

Jeddah Gate is a mixed-use project spread over approximately half amillion sq m in Jeddah's new downtown. The SR6 billion project willserve as a centre point for the city's new downtown.

Jeddah Gate is in close proximity to the main railroad linking the twoHoly Cities of Makkah and Madina to Jeddah. In all, the project will haveresidential and serviced apartments; office space and 75,000 sq m ofgross leasable area for retailers.

Al Khobar Lakes is a luxury lakefront development set on approximately4.3 million sq m featuring serene water bodies. With a developmentvalue of SR4.5 billion, it features more than 2,000 private villas withretail and leisure amenities that are perfect for family living. Al KhobarLakes is one of the premier lakefront developments and the largestintegrated community in the Kingdom of Saudi Arabia.

Work on Jeddah Gate and Al Khobar Lakes is progressing as perschedule.

Emaar Q

uick 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, mosques, community centres and pedestrian walkways

• Outdoor plazas, gardens and waterscapes • Facilities include swimming pools, fitness centres, children’s play areas, day care centres and recreational areas

• Smart units with latest communication technologies

Quick Facts on Al Khobar Lakes• Lakefront development set on approximately 4.3 million sq m

• Only 43 km from King Fahd International Airport and in close proximity to Al Khobar City, Dhahran and Dammam

• 80,000 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 113,000 sq m • Two educational complexes for both boys and girls• Shopping centre, two community centres, coffeeshops & 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, a Fairmont Hotel, and part of Abraj Al Bait

• Located on the Haram Plaza offering views of the Holy Kaaba and Haram

• Studio and one, two, 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

Emaar M

iddle East

World-Class Living in Emaar Middle East’s Saudi Communities

Designed and Published by TPG Media 04 349 4925


SAUDI REAL ESTATE COMPANY (AL AKARIA) SAUDI PROJ3CTS 39

AS A WORLD CLASS PREMIER REALESTATE DEVELOPMENT,MANAGEMENT AND INVESTMENTCOMPANY, AL AKARIA IS COMMITTEDTO CONTINUING TO STRENGTHEN ITSREPUTATION AS A DYNAMIC ANDFORWARD THINKING REAL ESTATEMARKET WITHIN THE KINGDOM OFSAUDI ARABIA BY CREATING UNIQUEAND PRESTIGIOUS DEVELOPMENTSTHAT CAN BE USED AS A BENCHMARKOF QUALITY, WHILST ADHERING TOTHE CULTURAL AND NATIONALHERITAGE OF THE COUNTRY. ITSPROJECTS REPRESENT A STATEMENTAND EXPRESSION OF EVERYTHING ALAKARIA STRIVES TO ACHIEVE.

The corporate vision is to create

sustainable residential, commercial and

mixed-use communities that foster

innovation, productivity and joy whilst

providing a lasting positive impact on the

residents, as well as on the environment

and local surrounding areas.

Moreover, the mandate for sustainability

is important to Al Akaria; it stems from a

corporate commitment to being a socially

responsible company on all levels.

Al Akaria is dedicated to providing

buyers with both property and an

environment of the very highest standards;

in other words, investments they can be

proud of. Driven by a passion for

excellence, Al Akaria’s team of experts has

limitless ambition.

As a leading real estate

company fully supported

and in strong leverage

with the Saudi

Government, local

agencies and International

Partners Al Akaria is

ideally placed to benefit

from the Kingdom’s

ongoing growth and

prosperity, with its policy

on sustainability and

efficiency contributing

significantly to the way

the company plans its developments. 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, The Plaza as an example of

this. Moral and social responsibilities and

values are equally as important as the

commercial direction the company takes.

Al Akaria was established in 1976 and,

with its headquarters in Riyadh, is a global

leader in the real estate industry. The

primary business of Al Akaria is the

management of its own real estate

properties, as well the development and

construction of residential and commercial

buildings.

The Kingdom is currently enjoying

rapid growth and development, and this is

being carried out in a manner that is not

only commercially viable, but also

sympathetic to the nation’s long history

and culture. Indeed, Al Akaria is helping to

shape the future of the Kingdom of Saudi

Arabia.

In addition to the work within the

Kingdom, Al Akaria has also fulfilled a

number of contracts outside of the

country, some of which take in Saudi

embassies in other GCC nations. 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.

Al Akaria provides good

quality commercial and

residential buildings

throughout the Kingdom,

and has worked on

prestigious, landmark

products in Riyadh, &

Jeddah, Makah, Medina

and the Eastern Province.

Al Akaria offers vast

opportunities for those

seeking premises

renowned for superiority,

and quality whilst maintaining their

emphasis on personal client relationships.

High-end boutique shopping malls, high

quality food courts and top class restaurants

for the retail Industry are a fragment of

what Al Akaria offers. Upscale high-rise

offices, commercial and retail boutiques

that are reasonably priced and affordable.

Luxury hotel suites and apartments,

conference centers and exhibition halls

situated in prime locations across all major

cities. Al Akarai is unique in the fact that it

also offers special purpose industrial

science parks.

A showcase and fine example of Al

Akaria’s work is The Plaza in Riyadh.

Every detail has been considered and the

focus has been customer satisfaction and

user interface. Al Akaria understand that

moving office can be a costly business, not

only in the direct sense of actual moving

costs, but also the cost of lost time and

disruption to the business. Consequently,

to help tenants overcome as many of these

barriers as possible, Al Akaria has focused

on solutions to these problems. Smart

technology, for instance, has been

integrated into the development. Features

such as IP telephony, Internet & Ethernet

switching systems and IP TV systems are all

incorporated. Attention to detail,

particularly to assist with the comfort and

upwardly mobile lifestyle of those resident

in the building, have seen several important

aspects to the scheme developed and

implemented, including extensive retail

services to support a positive working

environment. The Plaza is located in the

heart Riyadh on Olaya Street. Al Akaria

has both built and manages the

development.

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’s projects seek to

prioritize both the future physical, social

and economic requirements of the

Kingdom of Saudi Arabia for the benefit of

those who live and work in the country.

The current property portfolio includes

major developments and re-developments

within the Kingdom.

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, whilst

adhering to the specific needs of what is a

unique culture and tradition.

PROUD OF THEIRHISTORY AND HERITAGE


40 SAUDI PROJ3CTS EL SEIF ENGINEERING CONTRACTING COMPANY

A KEY MEMBER OF THE EL SEIFGROUP, A PRIVATELY OWNED ANDGLOBALLY RENOWNED GROUP OFCOMPANIES WITHIN THE KINGDOM OFSAUDI ARABIA, EL SEIF ENGINEERINGCONTRACTING COMPANY (ESEC) ISSOUGHT OUT BY DISCERNINGCLIENTS THROUGHOUT THE REGION.INDEED, WITH HEADQUARTERS INRIYADH AND OFFICES IN DUBAI, ABUDHABI, DOHA AND BEIRUT, THECOMPANY OFFERS QUALITYWORKMANSHIP, FINANCIALSTABILITY AND UNCOMMONEXPERTISE, RESULTING IN A SERVICETHAT SAVES CLIENTS BOTH TIME ANDMONEY, WHILST GUARANTEEING THEVERY HIGHEST STANDARDS.

A PIONEER AND MARKET LEADERThe El Seif Group first opened its doors

for business in 1951, 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. From day

one, 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. This

commitment has helped the group’s

member companies to evolve into credible

leaders in their respective fields, earning

the trust and respect of the business and

private banking communities.

It was during the 1970s that the El Seif

Group, through the addition of highly

qualified managerial and technical

capabilities, established new companies in

the specialist arenas of engineering and

construction, healthcare, medical

equipment, hospital supplies, operation and

maintenance, and commercial investment,

including real estate development,

insurance and power generation. From the

beginning, the emphasis has been on

quality, efficiency, customer satisfaction,

and long term planning. This philosophy

has enabled the major companies of El Seif

Group to become market

leaders and pioneers in

their specific industry

sectors.

SOLUTIONS ACROSSTHE ENTIREINDUSTRYSPECTRUMESEC has the

capability to design on

certain scale, depending

on the size and nature of

project; however, the

company sometimes sub-

contracts the design work to experienced

and specialized firms. Moreover, led by a

team of professionals, the company is

divided into three distinct divisions;

General Buildings, Infrastructure, and

Special Projects. This allows the company

to offer clients both targeted expertise, as

well as a broad portfolio of services that

STEEPED IN TRADITION, BUTINNOVATING FOR THE FUTURE


42 SAUDI PROJ3CTS EL SEIF ENGINEERING CONTRACTING COMPANY

can be brought together to provide solutions

across the entire industry spectrum.

These services include, but are not limited

to, project construction management, general

contracting, engineering, procurement and

construction (EPC), design/build contracts,

international procurement, logistics,

mechanical and electrical installations,

operation and maintenance. The project

types that ESEC works upon incorporate

high-rise towers and mixed-use building

schemes, residential and commercial

complexes and large scale housing

developments, hospitals and health sector,

military and defence, airports, railways,

infrastructure, power generation and

transmission, desalination plants,

communication, industrial installations,

consumer products process plants, operation

and maintenance, heavy duty equipment

rental and leasing, electrical, mechanical and

electronic works.

SUPERIOR PROJECTS, SUPERIORWORKMANSHIPESEC boasts a product portfolio that reads

like a ‘Who’s Who’ of industry and

commerce, incorporating important and

prestigious jobs throughout the region. In

Riyadh, Saudi Arabia, for instance, the

company is active on a project for the

Ministry of Finance at the Princess Noura

Bint Addulrahman University for Women,

where it is carrying out all infrastructure

works on an area of 8 million square meters.

The scope included civil, structural,

mechanical and electrical works for utility

buildings, infrastructure, landscaping, site

grading, a utility tunnel, flyover bridges, road

works, solid waste management, a sewage

treatment plant, and 750,000 metres of pipes.

Also in Riyadh, ESEC is proud to have

been chosen to build the Kingdom Tower,

one of the largest and most modern

developments in the Middle East. This iconic

tower rises 300 metres into the air and

consists of a Four Seasons Hotel, shopping

mall, restaurants, offices, residential units, and

parking for 3000 cars. Riyadh’s newest

international landmark, it is a towering new

symbol of the pride and progress of Saudi

Arabia’s capital city, in the same way that the

Eiffel Tower symbolises Paris and the Statue

of Liberty symbolises New York.

In The Kingdom of Saudi Arabia, the

company was the contractor of choice for

the design and build of Package 3 in King

Abdullah Financial District. The vision of

creating a new and vibrant district will easily

be met by ESEC. The King Abdullah

Financial District will house the financial

sector and related industries. ESEC is

constructing four high-rise buildings with

heights raging between 19 and 31 floors

being built according to the highest quality

standards. Additionally, within the same area,

ESEC has been chosen to execute the

headquarter building of Samba Financial

Group, which rising 39-storey with 232

meters high.

Package 15 in the New Doha

International Airport is another prestigious

project undertaken by ESEC. This turnkey

project includes the design and construction

of eight buildings known as the Operation

Facilities, is one of many projects based in

Qatar. Other works include Silhouette Tower

and Hamad Medical Centre City just to

name a few.

Over in Dubai, the exciting Green

Community at Motor City is yet another

ESEC job which, covering 67 lush hectares

of residential, retail, leisure and commercial

properties, provides secure, relatively traffic-

free high-quality community living amidst

landscaped gardens and stone streets. The

company is constructing residences, luxury

and family villas, townhouses, terraced

apartments, garden apartments, recreation

centres, commercial areas, a hotel, and site

infrastructure works.

In Abu Dhabi, ESEC is involved in Al

Falah Community Development Project,

which is a community for UAE nationals as

part of the Plan Abu Dhabi 2030 directive.

ESEC scope included the construction of

2,022 housing units with pre-cast concrete

superstructure and pre-cast boundary walls

including all civil, architectural and electro-

mechanical works.

ESEC is working outside of the Gulf too.

In Beirut in the Lebanon, for example, it

completed the construction of a 500-bed

Government University Hospital. This is the

largest hospital ever built in the country, with

the capacity for 500 beds, operating theatres,

laboratory facilities and various outpatient

clinics.

A Culture of Continuous Improvement

Since its inception, ESEC has consistently

built a reputation for quality work and

timely delivery, which have earned the

company the admiration and satisfaction of

its clients. Moreover, with its ever-expanding

resources, diverse activities and increasing

involvement in regional property

development, the company’s role as an

instrument in the region’s progress will

continue to grow.

To differentiate itself from its competitors,

the company has placed much emphasis on

customer focus and continuous

improvement, and is always looking for new

and innovative processes to add value in

regards to quality, price and delivery. To

achieve these goals they are striving to

achieve a culture of continuous

improvement throughout the whole

organisation.

ESEC has demonstrated over the years the

stability, professional management and high

quality workmanship that are required to

fulfil projects safely, on-time and within

budget.

Documents

Saudi Projects