Over 1 million pilgrims benefit from golf cart service at Grand Mosque during Ramadan    Visitors welcomed with Eid initiative at Thee Ain Heritage Village in Al-Baha    Tebuk emir reviews rain response in Tayma    Saudi Arabia considers rent cap as part of major real estate reforms    Messi's bodyguard banned from touchline at Inter Miami games    Screen time in bed linked to insomnia, study finds    Le Pen vows to appeal political ban, calls verdict a 'denial of democracy'    Death toll from Myanmar earthquake rises to 2,719 as rescue efforts continue    Russia, Ukraine trade blame over new energy strikes    Putin orders Russia's largest military call-up in over a decade    Albania hosts MWL chief for Eid sermon at largest mosque in the Balkans    Haramain High-Speed Railway transports over 1.2 million passengers during Ramadan    Saudi Transport Authority says passengers can ride for free if taxi meters are off    Ministry of Education forms 425 community partnerships with SR653 million impact    Mexico bans junk food in schools to fight childhood obesity epidemic    Sweet sales surge ahead of Eid as Saudi chocolate imports top 123 million kg in 2024    Saudi creatives shine at Jeddah's Fawanees Nights with art, fashion, and storytelling    T1 CEO confirms Gumayusi's return for LCK Spring after lineup shakeup    100 Thieves claim Marvel Rivals Invitational NA crown as 2025 scene heats up    Bollywood actress vindicated over boyfriend's death after media hounding    Saudi Arabia hold Japan to goalless draw in Saitama to stay in World Cup hunt    Grand Mufti rules against posting prayers and preaching in mosques on social media    King Salman prays for peace and stability for Palestinians in Ramadan message King reaffirms Saudi Arabia's commitment to serving the Two Holy Mosques and pilgrims    Bollywood star Saif Ali Khan 'out of danger' after attack at home in Mumbai    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Saudi Arabia remains fastest Gulf growing projects market
Published in The Saudi Gazette on 24 - 10 - 2012

JEDDAH – The GCC projects market index rose by 0.2 percent to $2.49 trillion as of the third quarter of 2012, driven by strong growth in the UAE and Kuwait projects market.
“The growth of the projects industry in the GCC continues to have an impact on the overall development of the region. It is within this context that we established the awards to recognize quality projects and acknowledge their merits - to create a standard of projects that needs to be lived up to.
Once you recognize quality projects, others are motivated to live up to that standard and in the process push the boundaries for the projects industry as a whole,” said Edmund O'Sullivan, chairman of the judging panel of the 2013 MEED Quality Awards for Projects, in association with Ernst & Young, an independent awards recognition scheme established to recognize project excellence across several categories.
The MEED Quality Awards for Projects, in association with Ernst & Young, is the only awards program in the GCC to recognize completed projects and evaluates the outcome of the construction process, rather than the process itself. Now in its third year, the awards program is judged by an independent panel consisting of respected authorities in the projects industry who will determine the winners at the national and regional level of the competition.
According to MEED's Gulf Projects Index, a comprehensive and up-to-date tracking system of projects that are either underway or planned throughout the region, the strong growth in the UAE's projects industry was attributed to the revival of three projects worth $960m, and the launch of three new projects worth a combined $230m.
Elsewhere in the region, Kuwait recorded the region's biggest rise in the value of its projects sector, increasing 1.4 percent to $185.9 billion.
Oman continues its growth trend, with the value of its projects sector rising 12 percent compared with the same period in 2011; while Saudi Arabia, Bahrain and Qatar remained relatively steady. Overall, the Gulf Projects Index is up 5 percent compared to the same period in 2011. Saudi Arabia remains the region's fastest growing projects market, reporting a 27.7 percent year-on-year growth.
According to Abraham Akkawi, Partner and Head of Infrastructure and PPP Advisory Services, MENA, Ernst & Young, recognizing quality achievements in the projects industry is important because of the tremendous economic, social and environmental impact that they have on the GCC as a whole. “It celebrates the achievements of the GCC's projects industry in delivering the infrastructure and building projects that are laying the foundations for the future of the Gulf region,” he added.
The UAE led the region with four awards at last year's edition of the MEED Quality Awards for Projects, in association with Ernst & Young, including Industrial Project of the Year for Emirates Aluminum Smelter Complex (nominated by SNC-Lavalin International), Transport Project of the Year for the Road and Transport Authority's Dubai Metro Green Line, Social Project of the Year for Abu Dhabi Tourism Development & Investment Company's Saadiyat Construction Village (nominated by HLG Leighton Contracting), and the Emirates Steel Building Project of the Year for Damac's Ocean Heights (nominated by Arabtec Construction LLC).
Projects completed between January 2011 and December 2012 are eligible to compete in the awards program. Submissions for the 2013 awards program are now being sought in the following categories: Oil & Gas Project of the Year, Industrial Project of the Year, Power and Water Desalination Project of the Year, Water Reuse Project of the Year, Leisure and Tourism Project of the Year, Transport Project of the Year, Social Project of the Year, Building Project of the Year and Sustainable Project of the Year.
The deadline for submission of projects has been set on Jan. 31, 2013. Winners will be announced in May 2013. – SG


Clic here to read the story from its source.