Projects worth $800bn under way in the UAE

Despite caution over future projects, $800 billion (Dh2.9 trillion) of projects are currently under construction in the UAE, according to a survey by Proleads, the research partner of The Big 5.

Though the analysis covers all industries, civil construction developments continue to dominate projects under way topped by Jumeirah Gardens, Dubailand, Palm Deira, Yas Island, and White Bay Umm Al Quwain.

Proleads is currently tracking in excess of 5,200 individual projects worth in excess of $4trn across the Middle East.

Its database lists more than 980 projects under some level of construction across all industries in the UAE.

"It is important to say that the $800bn of projects in this survey are all under construction," said Bernard Walsh, Managing Director of The Big 5 organizers dmg world media Dubai. "Despite caution over future projects, it emphasizes yet again that the huge projects under way in the UAE are increasingly at levels unmatched in other parts of the world as the economic slowdown affects markets worldwide."

The survey also ranked the top five owners, contractors, managers, financiers and architects involved in projects in the UAE.

It includes companies from the UAE, Belgium, the Netherlands, the United States, the United Kingdom, India and Australia among the top ranked in terms of the value of projects with which they are associated.

The tables are based on analysis of the active construction projects currently under way in the UAE across the oil and gas, petrochemical, civil construction and, power, water and industrial sectors and contained within the database of Proleads.

"As the region's biggest event for the building and construction industry we are delighted to unveil the biggest companies across the most crucial areas of project development," said Walsh.

In the tables, Dubai's Nakheel tops the big Project owners list; Jan de Nul, a Belgian dredging company is the number one contractor; US companies led by Hill International dominate project managers list; Abu Dhabi Commercial Bank is the leader in terms of project financiers; and Crema Bahramis Giordano, an Australian firm tops project architects with a development in the tiny emirate of Umm Al Quwain.

Meanwhile, local companies have affirmed their commitment to the event to address their niche markets or capture new business.

Anchor Allied's said its participation at the annual trade show comes at a time when the company is looking to expand its market presence and consolidate its leadership position in the region.

Anchor Allied is a subsidiary of M'Sharie and one of the largest manufacturer of adhesive tapes and specialty adhesives in the Middle East.

"Having set itself a revenue target of Dh 250 million within the next three years, Anchor Allied has been looking to strengthen its operations and increase its regional footprint," said Hussain Nalwala, Executive Director of Anchor Allied.

"Ensuring a strong presence at The Big 5 Show will enable us to explore new investment opportunities and pursue strategic alliances. Through our participation at the show, we are primarily seeking to increase awareness in the local and export markets as well as among the contracting community about the technical superiority and usable strengths of our products."

Again, to capitalise on the rising demand for steel structures, Emirates Building Systems (EBS), a subsidiary of Dubai Investments Industries and a regional leading company in the construction of high-rise steel buildings, announced yesterday that it will showcase its services and a wide array of products including hot rolled steel structures for multi-storied buildings and high-rise towers at the event.

Fouad Arwadi, General Manager Sales of Emirates Building Systems, said: "We expect our participation at this year's show to be particularly successful, as the exhibition comes at a time when demand for steel structures is on the rise across the region as a result of a shift in favor of steel structural frames amongst the real estate community. We look forward to establishing new relationships and reinforcing our market presence by capitalising on the opportunities offered by The Big 5 show."

In order to cater to the increased demand for steel structures in the Gulf region, EBS had recently completed the expansion of its factory in the UAE to take the company's annual production capacity to over 75,000 metric tonnes. EBS has also set up additional fabrication facilities in the GCC and the Subcontinent.

DuPont also confirmed that it will showcase innovative products at the event.

"These advanced concepts and materials are of particular interest to Middle East and Gulf where construction and real estate development continue to progress and evolve at a rapid and highly-competitive pace," said Andrew Holdsworth, Director Middle East.

"These materials extend the superior benefits that open new opportunities for architects and designers, and a refreshing experience for consumers in the Middle East and Gulf," said Tony Azzam, Business Manager, Building Innovations and Construction Industry Leader for Turkey, Middle East, Africa and Pakistan.

"The Middle East and Gulf market is gearing up to meet the residential, health, educational and recreational needs of its rapidly growing population. We are currently working on multiple innovative projects to enable customers reach new heights in architecture and construction of homes, healthcare, skyscrapers, airports, industrial buildings and offices."

Meanwhile Mammut Building Systems FZC (MBS), one of the region's largest manufacturers of pre-engineered steel buildings (PEBs), has announced that it will showcase part of a new range of products at exhibition. MBS is a subsidiary of Emaar Industries and Investments (EII).

"This is a perfect opportunity for MBS to demonstrate our product range to the many visitors that will come to The Big 5. We have grown rapidly since our inception in 1997 and the services and products we offer have differentiated us from the competition," said Bob Webster, Managing Director at MBS.

The company will introduce a new long span purlin G-2 (second generation). Unlike conventional purlins that have a maximum span of about eight metres, the new G-2 purlin can extend up to 12 metres or more.

It will also showcase a number of new products as well as some of its existing services.

The Big 5 show, the biggest fair for the construction industry and associated suppliers in the Gulf, opens today and will run until Friday.

Exhibition space has been completely sold out with the event taking up the entire space of the Dubai International Exhibition and Convention Centre.

By

Sona Nambiar Emirates Business 24/7

US EXPORT COUNCIL PROVIDES ASSISTANCE TO US COMPANIES SEEKING ACCESS TO HIGH GROWTH MARKETS OVERSEAS. http://usexportcouncil.com/

Standard & Poor’s (S&P) raises rating on Eskom,

ESKOM’s (South African Power Utlility) hopes of raising part of the money needed for its R343bn capital expenditure programmes received a boost yesterday when international rating agency Standard & Poor’s (S&P) revised its local currency credit watch status from negative to developing.

Eskom’s ability to raise money in local and foreign markets in order to meet the huge capital needs of the build programme, partly hinges on the various agencies’ ratings.

S&P yesterday said it had revised its local currency credit watch status from negative to developing. It used Eskom’s recent application to the treasury for guarantees on all existing and future debt as the reason for the move. Eskom submitted the application on Tuesday this week.

“In our view, Eskom’s submission strongly suggests that credit-enhancing guarantees in some form are likely,” the agency said.

The treasury last month alluded to its preparedness to offer guarantees to Eskom in order to enhance the utility’s credit rating.

S&P said the resolution of the credit watch depended on the nature and scope of the guarantee package the treasury would approve.

“The local currency corporate credit rating and the issue ratings, as well as the long-term national scale rating, could be raised if the treasury were to approve a guarantee for all existing and future debt,” the agency said.

“They could also be lowered if only certain classes of debt were guaranteed — hence the revision of the credit watch to developing.”

The agency said the ratings on the utility showed its critical role in SA’s economic development through its electrification programme.

Konrad Reuss, S&P managing director for SA and subSaharan Africa, said that while the treasury had publicly committed to the guarantees, “it is critical to have clarity on the nature of the guarantees. We would like to look at the legal nature of the guarantees.

“Are they going to be conditional, or unconditional?”

Eskom CE Jacob Maroga said : “We welcome the approach adopted by S&P and are satisfied that S&P appreciates the critical role of Eskom to the South African economy and ongoing efforts between Eskom and government to design an appropriate capital structure for Eskom.”

Maroga said that in order to get the funds for its build pro-gramme, the utility was making progress “on critical fronts, including shareholder support and a tariff path placing Eskom on course to achieve long-term financial sustainability”.