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THE DEFINITIVE GUIDE TO THE REGION'S CONSTRUCTION PROFESSIONALS P6 4 - Thi s mon t h ' s u nsu ng he ro is Fay L loyd Preferred Bank Partner September 2019
Construction Business News
Construction Business News, September 2019
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Construction Business News
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THE DEFINITIVE GUIDE TO THE REGION'S CONSTRUCTION PROFESSIONALS P6 4 - Thi s mon t h ' s u nsu ng he ro is Fay L loyd Preferred Bank Partner September 2019
A MEMBERS OF EMIRATES TRANSPORT BUSINESS CENTERS:
construction business news me // September 2019 // www.cbnme.com 3 News Interview Cover Story Trucks Project Launch Digital Country Focus Opinion Company Profile Sustainability Event Preview Machinery & Equipment Unsung Hero 12 20 24 40 42 44 46 48 50 52 54 56 60 // contents September 2019 // Issue #55 S U B S C R I B E subscriptions@bncpublishing.net CEO Wissam Younane wissam@bncpublishing.net Director Rabih Najm rabih@bncpublishing.net Group Publishing Director Joaquim D'Costa jo@bncpublishing.net +971 50 440 2706 Sales Manager Vishvanath Shetty vish@bncpublishing.net +971 52 119 3077 Business Development Director Rabih Naderi rabih.naderi@bncpublishing.net +966 50 328 9818 Deputy Editor Kasun Illankoon kasun@bncpublishing.net Art Director Aaron Sutton aaron@bncpublishing.net Photography Dhananjay Shekar Poojari Marketing Executive Vince Celestial vince@bncpublishing.net PO Box 502511 Dubai, United Arab Emirates P +971 4 4200 506 | F +971 4 4200 196 For all commercial enquiries related to Construction Business News ME contact sales@bncpublishing.net T +971 50 440 2706 All rights reserved © 2015. Opinions expressed are solely those of the contributors. Construction Business News ME and all subsidiary publications in the MENA region are officially licensed exclusively to BNC Publishing in the MENA region by Construction Business News ME. No part of this magazine may be reproduced or transmitted in any form or by any means without written permission of the publisher. Images used in Construction Business News ME are credited when necessary. Attributed use of copyrighted images with permission. All images not credited courtesy Shutterstock. Printed by UPP
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// construction business news me // September 2019 8 // Editor's note Prime Residential Property Savills has released its latest insight into prime residential property with the release of the Savills World Cities Prime Residential Index (H1 2019) and Dubai ranks as the third most affordable major city in the index for purchas- ing prime residential property. While the ana- lysts identify that Dubai property prices have dropped over the past five to ten years, inves- tors willing to hold property as an investment for a longer period of time can take advantage of attractive yields. In-house Savills research into prime residential rental yields, pinpoint Dubai as the fourth best global hub for returns on investment (4.6%). Price growth across the world’s leading prime city housing markets has continued to slow during the first half of 2019, rising by just 0.4%, taking the annual growth to 0.7%. This compares to an annual increase of 5.1% in the year to June 2018. Swapnil Pillai, Associate, Research Middle East at Savills said: “It is a good opportunity for domestic and foreign investors to look at Dubai. Firstly, because the time is right as it is far more affordable to purchase prime residen- tial property now due to lower transactional costs and overall lower prices when compared to other major cities. Investors are paying less for top class specifications. Secondly, strong rental yields mean that long-term investors could generate robust annual returns when let- ting out property in the city.” Also, based on Savills World Cities Prime Residential Index shows that Berlin and Paris have seen stand out growth for prime residen- tial property of approximately 4% over the last six months and 8% over the last year. Both markets have low supply levels coupled with increasing demand from domestic and inter- national buyers. editor’s note Kasun Illankoon Deputy Editor kasun@bncpublishing.net Keep up to date with all the latest news, features and much more on our website. www.cbnme.com On the web
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// construction business news me // September 2019 12 For News, features and more, Visit www.CBNme.com Follow us on twitter for breaking news: @cbn_ME Follow us on Facebook for up-to-the-minute breaking news An update from around the region Finance Update // DAMAC Properties Dubai Co. PJSC (DFM: DAMAC) (“DAMAC” or the “Compa- ny”), announced financial results for the first half of 2019, reporting a total revenue of AED 1.9 billion, with booked sales reported at AED 1.8 billion. Gross profits for the same period stood at AED 502 million reflecting gross profit margins of 27%. Total assets stood at AED 24.7 billion compared to AED 25.2 billion as of 31st December 2018, while net profit stood at AED 82 mil- lion in H1 2019. DAMAC has reduced its gross debt by AED 1.4 billion in last 12 months. As of 30th Jun 2019, gross debt stood at AED 4.1 billion, cash and bank balances stood at AED 5.6 billion and development properties stood at AED 9.4 billion. Shareholders’ eq- uity stood at AED 14.2 bil- lion as on 30th Jun 2019. DAMAC delivered 1,476 units in first half of the year. This also includes the first ever handover in AKOYA, the Company’s largest mas- ter development, with nearly 315 units in the Claret cluster completed and in the pro- cess of being handed over to customers. DAMAC also completed two other proj- ects in Dubai namely Ghalia and Tower 108. Hussain Sajwani, Chair- man of DAMAC Properties, said, “The first half of 2019 witnessed events like the launch of our latest proj- ect, Zada, in Business Bay and the first handover in AKOYA. We continue to fo- cus on deliveries this year, completing and handing over projects that are in our development pipeline. We have made significant progress in our master com- munities, DAMAC Hills and AKOYA, and both commu- nities are welcoming many more residents this year. We remain financially robust, and with the UAE economy poised for growth in the coming years, we are look- ing forward to an upturn in the real estate sector.” “We thank and support the UAE’s leadership who have long cemented the country as a global hub for business and innovation. Their efforts and proactive response to global shifts have ensured that the UAE continues to grow,” Sajwani added. “We also thank our em- ployees, customers, part- ners, and shareholders who share our commitment to our vision for better com- munities, and have helped us transform DAMAC from its modest beginnings into a master developer with near- ly 26,000 homes delivered.” DAMAC Properties reports revenue of AED 1.9bn and sales of AED 1.8bn in H1 of 2019
construction business news me // September 2019 // www.cbnme.com 13 Project Majid Al Futtaim, the lead- ing shopping mall, com- munities, retail and leisure pioneer across the Middle East, Africa and Asia, has announced that construc- tion of Mall of Oman – its fifth and biggest lifestyle destination in the Sultanate of Oman – is on track with the completion of two major infrastructure milestones. Set to open in March 2021, the Mall of Oman confirmed delivery of new roads and fly- overs, connecting the mall to Interchange No 6 on the Mus- cat Expressway, and the com- Construction of Mall of Oman on Track for 2021 Opening pletion of the Muscat Elec- tricity Distribution Company (MEDC) Primary Substation. Considered to be the big- gest project of its kind in the Sultanate, Mall of Oman will have 145,000sqm of retail space, a variety of dining outlets and a range of exciting lifestyle experi- ences. The mall will also in- clude Oman’s largest VOX Cinemas, a Magic Planet family entertainment cen- tre, a 12,200sqm Carrefour Hypermarket and the larg- est indoor snow park in the Sultanate. The development of Mall of Oman is expected to contribute to the Sultan- ate’s Vision 2040 on eco- nomic diversification by creating meaningful job opportunities and raising the living standard of its citizens and residents. “The tourism and retail sec- tors are integral to Oman’s economy and are poised to drive economic growth and contribute to diversification in the country. These objec- tives are aligned with Vision 2040 and we are privileged to be able to contribute to this vision as long-term part- ners and investors. By de- veloping Mall of Oman, we continue to contribute to the growth of the local tourism industry and enable job cre- ation for residents both dur- ing and post construction. A development project of this size and scope is benefi- cial to Oman’s citizens and residents and will positive- ly contribute to economic and social development in the Sultanate,” said Ghaith Shocair, Chief Executive Of- ficer Majid Al Futtaim Shop- ping Malls.
// NEWS // construction business news me // September 2019 14 Residential livering an extraordinary visitor experience in AlUla.” He added, “The decision by Aman to open its first resorts in the Middle East in AlUla shows the promise and progress of the vision for AlUla to become a world- wide destination for those seeking unique experiences. I believe this partnership Royal Commission for AlUla announces partnership with Aman to build three properties in AlUla will be the next step in the development of the yet to be discovered masterpiece that is AlUla.” RCU and Aman have also signed a partnership to de- sign, manage and brand the destinations as Aman, offer- ing the refined Aman guest experience that goes beyond any expectation. Chairman and CEO of Aman Mr. Vladislav Doronin welcomed the new partner- ship and said: “Many of our existing Aman destinations are located in areas of out- standing natural beauty and rich history. With the addi- tion of spectacular AlUla, this takes us to ten properties situated near or in UNESCO The Royal Commission for AlUla (RCU) has announced a partnership with the world’s leading hotel and resort brand, Aman, who will devel- op their first three properties in AlUla. The partnership agreement was signed by Saudi Arabia’s Minister of Culture, the Gov- ernor of the Royal Commis- sion for AlUla His Highness Prince Badr bin Abdullah bin Mohammad bin Farhan Al Saud and Chairman and Aman CEO Mr. Vladislav Doronin marking the brand’s first entry to Saudi Arabia and the region. Under the terms of a Tech- nical Services Agreement, Aman will develop three dis- tinct luxury resorts of archi- tectural excellence including a tented camp, a resort near AlUla’s spectacular heritage areas and a third develop- ment as a desert ranch-style resort. Detailed design work on all three properties is scheduled to commence in the coming months with a development timeline that will welcome the first guests in 2023. Commenting on the agree- ment, His Highness Prince Badr said: “We are proud to be signing this agreement with a luxury operator who shares our vision of sensi- tive development that both works with and incorporates the local landscape and cul- ture in a highly sympathetic manner, while demonstrat- ing our commitment to de-
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// NEWS // construction business news me // September 2019 16 Events Agreements IMKAN has joined forces with the esteemed Chinese con- struction company CNTC, ap- pointing the internationally renowned company as the main contractor for its Pixel project. The developer car- ried out an official signing ceremony at IMKAN’s head office, where ADCG CEO, H.E. Abubaker Seddiq Al Khoori, Dr Hamad Abdulqadir Al-Ali, Board member in Royal Stra- tegic Partners LLC , IMKAN CEO Walid El-Hindi and Vice President of CNTC, Xinrong Xu took the all-important first step to make Pixel’s seven towers come to life. IMKAN’s Chief Executive Officer, Walid El-Hindi said: “CNTC is one of the big- gest construction companies in China, and their experi- ence combined with our Deyaar has announced its financial results for the six months ended 30 June 2019 (H1 2019). The company reported rev- enues of AED 337.6 million in H1 2019, an increase of 7.5% compared to AED 314 million in H1 2018. Net prof- it for H1 2019 was reported as AED 36.7 million, com- pared to AED 65.2 million in H1 2018. For Q2 2019, Deyaar re- ported revenue of AED 161.8 million for the three-month period ending June 30 2019, up 17.6% from AED 137.6 million in the same period last year. Net profit for Q2 2019 was reported as AED 18.5 million. Saeed Al Qatami, CEO of Deyaar said: “2019 so far IMKAN awards China’s CNTC as main contractor for Pixel project in Makers District on Reem Island Deyaar reports H1 2019 revenues of AED 337.6mn & net profit of AED 36.7mn commitment to developing research-based communi- ties, gives us confidence that Pixel’s seven towers will be delivered utilizing some of the most innovative and di- verse construction solutions in the region.” Vice President of CNTC, Xinrong Xu, said: “We wel- come this collaboration with Abu Dhabi-based real estate developer IMKAN. Through this partnership, CNTC and IMKAN will translate our shared foresight for Pixel into reality. China and the UAE enjoy a symbiotic re- lationship that encompass- es culture, investment and trade and is underpinned by a deep understanding of the important role we both play in the region’s economic de- velopment and prosperity.” has seen positive growth for Deyaar as we continue to em- brace our diversification ef- forts and draw near comple- tion on our ongoing projects. With the imminent launch of our next hospitality project in partnership with Millen- nium Hotels and Resorts MEA and our first Midtown district, Afnan, in its final stages, we look forward to the continued growth of our business in the months to come. Find us on youtube Subscribe to our YouTube channel to see things like site visits, interviews and much more Quote The construction sector is the lifeblood of the UAE economy and it is very encouraging to see that the industry is expecting single to double digit growth this year.” Sidharth Mehta, Partner, Head of Building, Construction & Real Estate, KPMG
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// NEWS // construction business news me // September 2019 18 Appointments Azizi Developments, one of the leading private real es- tate developers in the UAE, strengthened its executive team with the appointment of a seasoned Chief Finan- cial Officer. Mika Toivola brings with him an extensive back- ground in corporate fi- nance, treasury, financial planning and analysis, in- vestor relations, strategic planning and risk manage- ment along with a deep understanding of the real estate and construction sec- tors. He has over 25 years of international and UAE experience in senior execu- tive roles at market-leading and publicly listed real es- tate corporations. Commenting on the ap- pointment, Farhad Azizi, CEO of Azizi Develop- ments, said: “Mika is an exceptional executive who has risen rapidly in his ca- reer and has had significant responsibilities in financial management, leadership, and capital markets. His background is well suited to help us drive our strat- egy, adding long-term value to the financial stability and progression of our organ- isation. We are committed to promoting international best practices in financial governance and compliance that will further strengthen the organisation’s perfor- mance and boost Azizi Developments’ standing lo- cally and globally. We are delighted to have Mika on board and look forward to him overseeing our ongo- ing financial planning and strategy initiatives.” Mika has served as group CFO at Dar Al Arkan Real Estate Co., Al Arrab General Contracting CJSC, Tellabs Oy, and ABB Industry Oy/ Drives Group, where he was responsible for overseeing the financial market strate- gies and building up the finance, risk management, and controlling functions. Among several other quali- fications from distinguished institutions, Mika holds an MSc. Degree in Economics & Business Administration from the University of Jyväs- kylä. Through his extensive experience in large multi- national corporations, Mika will reinforce Azizi Devel- opments’ internal control systems, risk management, and financial strategies. Azizi Developments appoints CFO to drive financial strategy and reinforce governance
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// construction business news me // September 2019 20 // Interview Kasun Illankoon spoke to Samer Abu Daqqa, Group Director of Cost Control at ECC, who tells us how the company is one of the first construction companies in the UAE to be Lean Certified ECC’s Lean Journey How did ECC turn to lean thinking and start its journey towards becoming a lean company? Engineering Contracting Company was established in 1975 and is one of the long-standing contracting com- panies in the UAE. In our 4 decades of operation, we have always been at the forefront of advanced tech- nologies, leading the market with innovation via the adoption of new practices and systems. As part of our company’s ethos of quality, sustainability and deliverability and to continue the path of innova- tion, we decided to incorporate lean principles in our operations. ECC is the first contracting company to adopt and implement lean principles in our practices establishing a benchmark in the UAE region. Lean principles help identify which inefficient processes are hindering project delivery and creating needless waste. On average, waste accounts for 57% of a construction crew’s time, which heavily affects delivery and budgets. What steps have been implemented to achieve this? Our journey began in 2018 by intro- ducing the concept and educating the team leaders across all departments about lean: its benefits, uses and how to implement it through all disci- plines. We then rolled out a three-day workshop for concerned employees to give them a better understanding and guide them on the new technolo- gies and systems. LGI Gulf Consul- tants were brought in as experts to present the latest methods on the
construction business news me // September 2019 // www.cbnme.com 21 implementation of lean principles into everyday processes. Following the workshop, we initi- ated a 3-month training course on all our sites where we applied the ‘Value Stream Mapping’ principle for major activities and created protocols for the implementation, development and standardization of activities. We then started to roll out the same procedure throughout our sites and departments. In July 2019, we completed a 7-week ‘Certificate of Management – Lean Construction Program’ (CM-Lean) for selected site, planning, project, quality, lean and cost control engi- neers to update, enhance and increase their knowledge on the topic. During the program, employees were trained on 7 courses designed specifically for the application of lean in the construc- tion industry. The engineers had to familiarize themselves with the termi- nologies and understand the process of adapting them within the construc- tion processes. We are also currently in the process to be CM-Lean certified by the Ameri- can Institution – Associated General Contractors of America (AGC) facili- tated by Lean Construction Institute (LCI). The certification will be assess- ment-based denoting the knowledge and understanding of concepts related to lean adoption, practice and process transformation outlined in AGC’s Lean Construction Education Program. What challenges have you encountered while adopting lean? Educating our employees across vari- ous disciplines, introducing a new lean concept and equipping them with updated techniques and information is one of the main challenges that we have overcome in our approach of becoming a lean company. In this everchanging construction landscape, companies need to have a competitive edge and stay lean and efficient to thrive in the market. To achieve lean, companies must be dedicated across all departments at the highest levels of operations with the right knowledge, education and train- ing to attain the necessary results. ECC brought the CM-Lean Educa- tion program to the UAE for the first time and while such an initiative has its challenges, onboarding of exter- nal parties: suppliers, subcontractors, consultants and clients posed a few hurdles that we have overcome. How will the training be implemented on projects? The initial phase – education and train- ing of engineers has been completed successfully. Following this, employees will be divided into various levels as per their roles to ensure that lean prin- ciples are executed in the right manner based on the actual site conditions. Tools provided in the previous work- shop training: 5S, Kaizen, Value Stream Mapping, Visual Management, Kanban, Supermarket, A3 Problem Solving will be utilized in an efficient and enhanced method with the advanced knowledge obtained. We have begun rolling out a ‘Lean Roadshow Program’ to share the basic knowledge of lean to all the site employees and head office staff across various disciplines to educate them on the Plan-Do-Check-Act (PDCA) cycle and customizing it as per their respec- tive field; site or office. What competitive advantage lean is bringing ECC? Lean helps us to be more efficient and to streamline our operations as non- value-added activities (NVA) are mini- mized, quality of delivery is enhanced, and shorter lead-times result in cost savings. There is a lot of competition in the construction industry, but there are few companies that offer great quality at a lower cost. Developers
// construction business news me // September 2019 22 are starting to realize the benefits of working with companies that apply lean ideas, as those are the ones that will thrive. Our lean way of working provides considerable benefits to our clients. At ECC, for example, we bring together all parties involved in the process (the developer, the contractor and the architect). Ensuring that these key people work in a synchronized fashion helps to bring more clarity to the work, which reduces risk and un- necessary costs and in turn, helps us achieve our lean objectives. Can you share some of the tangible results achieved? The pilot project stands as a testament to lean principles and value engineer- ing ideas set by ECC. Due to its im- mense size and scope, we had to ap- ply lean to ensure that project delivery timings would not be affected while also managing the cost of the project. Spread across 3.9 million square feet, the project challenged ECC and all branches of the company which were delivered on time due to our value engineering philosophy instilled in our workforce and the principles laid out by Lean. The team in charge of ceramic tiling gathered to conduct a value stream mapping exercise to identify NVA activities. Several ideas for kaizens resulted from this, with the initial objective of decreasing the time spent on NVA activities from 7,020 minutes to 5,400 minutes. We made improvements to the pro- cess itself and the logistics supporting the tiling work. As far as the process goes, we were able to increase our productivity from 625 square meters of laid ceramic tiles per day to 1,000 square meters. We were also able to decrease our inventory from five days to one day by improving replenishment using a super- market system (so that the right quantity of the right material is supplied at the right time near the place where the tiles are being laid) and by implementing ‘5S’ – sort, set in order, shine, standard- ize and sustain to better organize the working area and hand it over to the following trade, in a good state. What are your plans and vision for the company’s future concerning lean? We have just scratched the surface in the implementation of lean principles. The next step would be to roll it across other departments: procurement, purchasing, logistics, human resource to name a few across the group. We began 2018 by establishing a full-fledged BIM depart- ment and became one of the first locally grown companies in the UAE to get the BIM Kitemark Certification – an initiative taken in the direction towards enhanc- ing our value-engineered services and moving towards a lean operation. An integral aspect for the program be- ing such a huge success and a catalyst in changing the culture within the company is due to the trust and support from our employees. Implementing a new technol- ogy that is new to the market, specifically the construction industry is challenging and wouldn’t succeed without empower- ment from the management, staff and all our engineers. It is with their contribu- tion and effort that we are in turn able to empower and equip them to achieve our combined lean goal. // Interview
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// construction business news me // September 2019 24 Construction Business News Middle East review some of the leading real estate companies in Saudi Arabia // Cover Story
construction business news me // September 2019 // www.cbnme.com 25 Following a deceleration in 2017, Saudi Arabia’s GDP growth began to recover in the first quarter of 2018. It is estimated to have reached 2.2% in 2018 according to the IMF latest estimates and is set to further acceler- ate, reaching 2.3% in 2019. The return to growth has been underpinned by a combination of favourable factors including a rebound in oil prices, a gradual acceleration in the growth of the non-oil economy and the govern- ment’s shift away from a tight fiscal policy as announced in the 2018 and 2019 budgets. The gradual acceleration has resulted in planting confidence among the construction sector, in particular for real estate companies in Saudi Arabia. The implementation of various urban regeneration initiatives including mixed-use communities and large-scale infrastructure projects, is expected to act as a catalyst for the real estate market. Before we look into great detail into which real estate companies have been able to make an impact in the past 12 months we take an overall look at how developers, contractors, and consultants have been performing in the Kingdom, thanks to ProTenders – our Project Intelligence Partner for this feature. KINGDOM OF SAUDI ARABIA Q3 2019 CONSTRUCTION LANDSCAPE CONSTRUCTION CONTRACT AWARD FORECAST Q3 and Q4 2019 ($BN) TOP 5 DEVELOPERS COMPANY VALUE ($BN) VALUE OF PROJECTS BY STATUS ($BN) TOP 5 CONTRACTORS COMPANY VALUE ($BN) TOP 5 CONSULTANTS COMPANY VALUE ($BN) ONGOING PROJECTS BY SECTOR ($BN) Urban Buildings $806.8 Bn (69.8%) Urban Buildings $216.4 Bn (27.2%) Infrastructure $210.3 Bn (18.2%) Infrastructure $486.7 Bn (61.1%) Oil & Gas $93.6 Bn (11.7%) Oil & Gas $139.2 Bn (12.0%) UPCOMING PROJECTS BY SECTOR ($BN) 0 12 6 $1156.2 Bn Total $796.7 Bn Total $28 Bn Total Urban Buildings $12 Bn Oil & Gas $9 Bn Infrastructure $7 Bn 57,000 listed projects in the Middle East. $1952.9 Bn Total Tender $132.9 Bn (6.8%) Design $169.1 Bn (8.7%) Planning $494.6 Bn (25.3%) $1156.2 Bn (59.2%) Saudi Aramco King Abdullah City of Atomic and Renewable Energy Saudi Electricity Company High Commission for the Development of Arriyadh 45.4 Saudi Arabia Ministry of Housing 30.5 33.1 53.8 94.5 Saudi Bin Ladin Group Larsen & Toubro Daewoo Engineering & Construction Company Saipem S.p.A. 13.7 Hanwha Engineering & Construction 11.1 11.2 18.4 19.4 Dar Al Handasah Consultants (Shair and Partners) Saudi Consolidated Engineering Company (Khatib & Alami) Egis Rail Omrania & Associates 37.7 Zuhair Fayez Partnership Consultants 21.3 24.8 49.8 55.7 https://www.protenders.com/platform/construction_intelligence?utm_source=email&utm_campaign=2019Q3KSAInfographics https://www.protenders.com/platform/construction_intelligence?utm_source=email&utm_campaign=2019Q3KSAInfographics https://www.protenders.com/platform/construction_intelligence?utm_source=email&utm_campaign=2019Q3KSAInfographics https://www.protenders.com/platform/construction_intelligence?utm_source=email&utm_campaign=2019Q3KSAInfographics
// construction business news me // September 2019 26 // Cover Story Company’s performance in 2018 & 2019 Ayana Holding as a group has grown significantly over that period. Not only have more companies joined our group but we have extended our reach to cover new sectors and coun- tries. Although we have always had a global focus, the past 12 months have seen us reach new regions, cities and countries. This has grown not only Ayana Holding’s brand pres- ence but also the footprint of our portfolio of companies such as VX Studio, Opaal Interiors, ALT Technol- ogy, Ayana Capital, Ayana Properties, Atlas Homestays, Brand Capital, Detay Living, M2L Concepts, Manya Décor, Nioum, Performaa and Siren. 2020 will see our business initiatives and marketing focused on the Saudi Arabian market. Like the rest of Saudi Arabian lifestyle, the real estate market is experiencing profound and transforma- tional change. New economic regional, national and global forces are shifting the property environment in KSA. Many regional developers and investors have identified Saudi Arabia as a leading growth market, reporting higher returns on investments. With a surge in mixed-use developments, many developers and investors are seeking to capitalize on this increase by creating working partnerships with specialist service providers. Ayana Holding’s business goals and mission is aligned with the transforma- tion taking place in KSA. There are a diverse range of trends and develop- ments that are influencing change in the Kingdom’s real estate market. Ayana Holding Hamid Kerayechian, CEO and founding partner tells us how the company is expecting to perform in Saudi Arabia and what lasting impact it will have on the market.
construction business news me // September 2019 // www.cbnme.com 27 Projects Our projects vary in size and type and we focus primarily on the real estate in- dustry. Our companies are continuously working on projects across mixed-use, residential, hospitality, retail & commer- cial, institutional, education, healthcare & wellness. Our group provides archi- tectural design, redesign and construc- tion management, interior design, asset management, project finance, asset acquisition and sale, entertainment, tech- nology, IT Security and Infrastructure as well as sales & marketing. Saudi Arabia Market Overview Different models for residential real estate are developing, driven by consumer preferences and enabled by regulation from the Ministry of Housing and the value proposition will increase for walkable neighbor- hoods with accessible commercial, recreational, healthcare and social services. The pace of transforma- tion in Saudi Arabia is accelerating at an extraordinary rate under the stimulus of the Vision 2030 diversi- fication strategy. The generation of Saudi citizens now have different lifestyle, em- ployment and leisure expectations. The real estate industry will play an essential role in that transformation, but it too has to adapt to the new environment and give Saudi citizens the experiences they want. The Saudi Arabian Market is also emerging as a hub for entertainment, which is an area we specialize in. With our various entertainment offer- ings, we aim to be a leader in Saudi Arabia’s entertainment ecosystem. Ayana’s impact in Saudi Arabia Ayana Holding is completely in line with and fully vested in the Vision 2030 for Saudi Arabia and we aspire to be an active participant in the ex- citing growth that the country will be seeing in the near future. Future Challenges We have been covering Saudi markets for our various offerings from Dubai, our teams have been visiting regu- larly and meeting clients there. We are seeing more of a need to have a permanent presence in the country, which is why we will be launching an extension to our offices there, a Saudi subsidiary of our holding company to focus on the market there.
// construction business news me // September 2019 28 // Cover Story Al Akaria Established by the Council of Min- isters in 1976, Al Akaria is a lead- ing Saudi real estate development company since its inception, offering many innovative residential and com- mercial projects. With a paid-up capital of SAR 2.4 billion, Alaqaria as a Saudi semi- government shareholding company is listed on the Saudi Stock Exchange under the name of Saudi Real Estate Company “Alaqaria”. It has strong support from the Saudi government, as it is partly owned by the government represented by the Public Investment Fund and the Public Pension Agency. According to the company, sus- tainability and responsibility are two important elements of real estate. Therefore, they focus on providing and developing real estate products on large landscapes with modern models of high quality and long-term, which correspond to the surrounding. Al Aqariya's strategy is to build operational capabilities globally through the establishment of special- ized companies in partnership with international partners with successful experiences in the fields of real estate development, construction, mainte- nance, operation, project management, supervision of implementation and development, marketing, and recruit- ment of the best management and manpower to achieve their goals. Some of the projects that the company is involved in includes the Marriot Courtyard Hotel, Aqeeq Hotel Narcissus Complex, Riyadh, The Val- leys as part of the Al Wedyan mixed- use project, and much more.
Dubai Investment Park 2 P.O. Box 37334 Dubai, UAE Tel: +971 4 8850202 Fax: +971 4 8839939 Website: www.mirodec.com Email: mirodec-gulf@mirodec.com
// construction business news me // September 2019 30 // Cover Story Al-Saedan Real Estate Co. Al-Saedan Real Estate Co is one of the top leading real estate companies within the Arab world. The company has a strong profile of developmental achievements in the field of plan de- velopment, building commercial and residential centres, selling and buying local and international real estate, providing consultation in real estate services and providing valuation and estimation services. Some of the major projects that the company are involved in in- clude Marriot International, NOBLES Compound, ELEGANCE Tower, Aura Commercial Centre, Arrihab Scheme, Riyadh Al Khozama, and King Fahad Scheme, and much more. Today, the services provided by the company include real estate develop- ment and marketing services locally and across the Arab world. The com- pany services also include real estate consultancy provided during real estate and property sales either for the company or for third parties. In a statement on the company’s website, Ibrahim Muhammad Bin Saedan, Chairman of the Board said: “Based on our accumulated experi- ences in the real estate business, since 1934, and with the persistent proud of our effective contributions in shaping the urban reconstruction scene expe- rienced by our Kingdom today, and from the standpoint of our confirmed will for our presence and continuity of our evolution, according to a scien- tific method with a solid foundation styled in line with our visions for the present and future.” “Al-Saedan Real Estate Company has managed, since the formal dec- laration of it’s established in 1934, to reinforce its position as a leading real estate pole contributed and still in the activation of urban development witnessed in our country.”
construction business news me // September 2019 // www.cbnme.com 31 Dar Al Arkan Based in Riyadh (KSA), Dar Al Arkan is a public shareholding company listed on the Saudi Stock Exchange (Tadawul). With SR10.8 billion in capital and SR26 billion in assets, we are one of the leading real estate companies in the Middle East. Since 1994, Dar Al Arkan has had a significant influence on the real estate development sector in Saudi Arabia. The company has invested in innovative residential solutions, which resulted in the development of 15,000 housing units and 500,000 sq.m of luxury retail space. By collaborating with experts from around the world, Dar Al Arkan achieved international success, be- coming the largest real estate devel- oper in Saudi Arabia. While Dar Al Arkan runs diverse operations, real estate development remains the focus of its business. The company has succeeded in establish- ing new standards for commercial, residential and mixed-use projects; designed for a progressive lifestyle and delivered on time while follow- ing the best international standards in construction and maintenance. With a growing portfolio of strategic international land acquisitions, Dar Al Arkan is primed for global success. The company's vision is committed to increasing lucrative investment op- portunities, and the company is keen on expanding to excellent locations, to achieve the desired global success. In a statement on the company’s website, Yousef Bin Abdullah Al Shelash, Chairman of Dar Al Ar- kan said: “As Saudi Arabia’s largest company, Dar Al Arkan is a major partner in realizing the goals of Saudi Vision 2030 for the real estate sector, which will be developed to the high- est levels. Over its twenty three year history, our company has brought a multitude of mega real estate projects to successful fruition, positioning the company at the forefront of Saudi real estate. From our beginnings till today, we have contributed relent- lessly to developing effective real estate solutions for the regional mar- ket. Our efforts have materialized in the implementation of more than 30 residential and commercial real estate projects, a landmark achievement in the Kingdom.”
// construction business news me // September 2019 32 // Cover Story Ewaan Ewaan is more than a company build- ing real estate projects. It is dedicated to the craftsmanship involved with conceiving living communities that are inspired by our surroundings, thus providing wonderful feelings and hidden potentials, and urging us to develop them in the best and most respectful way possible. Taking advantage of the favor- able environment in the Saudi market, Ewaan established itself as a closed joint-stock company with a paid-up capital of four hundred million Saudi Riyals. In fact, Ewaan is the outcome of the partnership between a group of established corporations, including the Islamic Corporation for Private Sector De- velopment (ICD), which is affiliated with the Islamic Development Bank (IDB), Real Estate Development Company (subsidiary to SEDCO Group), Public Pension Agency and the International Investment Bank (IIB) – to name a few. In addition, the company has an alliance with Projacs International Company for Project Management. Such a stra- tegic strength of partnership, they are confident that they can provide a new lifestyle in the Kingdom that reflects perfection in every detail. Some of the major project done by Ewaan include the Al Fareeda Project which was designed and developed to meet the budgets and necessities of the Kingdom’s middle-class residents – never overlooking their comfort and convenience. It is strategically located in the north of Jeddah, considered the city’s urban extension, and provides commercial centers and all service amenities, while respecting the local environment and traditions. Also, the Al Mayaar Project Jeddah, which is Ewaan’s second project in Jeddah, the 333,777 sqm project site is located on the northern outskirts of Jeddah city at Dahban Village along Al Madinah Al Munawarah Road.
// construction business news me // September 2019 34 // Cover Story Jabal Omar Development Company Jabal Omar Development Company, arguably one of the largest real estate developer in the region and one of the largest listed companies in the Saudi Tadawul Stock Exchange. Its flagship project, Jabal Omar, is a multi-use real estate mega devel- opment project within a walking distance of The Grand Mosque of Makkah. As the Kingdom of Saudi Arabia continues to increase its capac- ity to welcome a growing number of pilgrims, JODC is a proud contribu- tor to the development of the area surrounding The Grand Mosque and strives to provide Makkah’s visitors and residents with a unique spiritual and physical experience. Its mega project is on an area of more than two square kilometers, 40 towers are reaching for the sky. Run by 29 of the world’s top hospitality service providers, the hotel rooms and suites in these towers will host some 34,000 guests on any normal day, and up to a whopping 100,000 visitors on any given day during the Haj and Umra seasons. The stand- out features of the project are a pair of twin towers with a praying area directly connected with The Holy Mosque. Together, they boost pedestrian traffic along King Abdu- laziz Road, which leads straight to the Haram, and provide a comprehensive set of shops and restaurants. The company will continue to implement the rest of the project ac- cording to the set schedule, in order to achieve the vision of the company which is based on achieving a true combination between the essence of originality and contemporary, by maintaining the architectural charac- teristics of Islamic and Makkah style architecture and indulging it with a modern touch. The project is featur- ing a unique design and a provision of special services that correspond to the sanctity of the place and a recol- lection of a great history, to indulge the guests with an experience of com- fort, tranquility, and serenity that is worthy to the great stature of Makkah. In 2016, the company appointed Yasser Faisal Al-Sharif as Chief Ex- ecutive Officer due to his expertise in leadership, finance and invest- ment. His appointment signifies a positive outlook for the company to lead it toward being a world-class real estate development and Invest- ment Company.
construction business news me // September 2019 // www.cbnme.com 35 Raza Raza, the real estate management arm of Saudi Public Pension Agency and a subsidiary of Al Raidah Invest- ment Company, currently manages a total AUM of approximately SAR13 billion covering 2 million square meters of high quality office, mixed- use and community developments in Saudi Arabia. In a press statement, the company states they are currently complet- ing a development pipeline of 4,600 residential units in Digital City and Jeddah Obhur. Together with existing compound assets and residential port- folio in the Diplomatic Quarter, Raza will emerge as the largest community landlord in the Kingdom by 2020. Walled Alesia, CEO of Raza, in a press statement said: “As we are pre- paring to launch a new phase of our growth journey, our road to success is built on developing local talent, tech- nology innovation, and a renewed focus on customers. If we achieve these goals, we will deliver higher return for our owners and reduce the cost-ratio of our operations.” Raza also charts out a five-year growth strategy wherein placemaking and developing integrated communi- ties act as critical growth catalysts in doubling its portfolio to nearly SAR26 billion in AUM by 2024. The current occupancy rates across its portfolio stand at 85 per cent with some of the prominent developments such as Digital City in Riyadh close to fully leased. As part of the growth strategy, Raza has also launched a digital transformation programme to deliver improved operational efficiency and customer experience. “In keeping with our commitment to professionalise the market, the next few months will see us intro- ducing new-to-market concepts to Saudi Arabia that enhance integrated community experience where people want to live, work and relax. In this context technology plays a critical role and the digital transformation journey will help us introduce sev- eral industry-first propositions in the region,” Aleisa added. Some of the major projects that the company is involved in includes King Abdulaziz Towers, Al Dhabab Towers, Digital City, and much more.
// construction business news me // September 2019 36 // Cover Story SEDCO Holding SEDCO Holding is powering the development of Saudi Arabia’s real estate sector via operating companies that are delivering the infrastructure, residential and commercial proper- ties essential to long-term economic growth. SEDCO Holding’s engage- ment with the sector comes through fully-owned subsidiary SEDCO De- velopment, and direct investment in developers such as Khomasiat Tabah and Ewaan Global Residential. SEDCO Holding invests in a diverse portfolio of real estate assets in global capitals – ranging from high- yield developments and capital gain investments to valuable land banks for future development. Within Saudi Arabia, the Group’s portfolio includes shopping malls, hotels, apartment blocks, office buildings, industrial units and prime development lands. SEDCO Holding delivers integrated real estate services ranging from asset and facilities management to trained manpower supply. Our integrated services, delivered through operat- ing companies including Intimaa, Al Mahmal Trading, and Tazweid, maxi- mize the value of real estate assets throughout their lifecycle and create new opportunities for landlords and business owners. Under its real estate umbrella, SEDCO Development, the company has focused on investing in promising developments, securing development opportunities that fit with its invest- ment criteria, and adding value to projects through expertise in financ- ing, project management, marketing and sales. SEDCO Development is particularly in the Western Region, where invest- ment in transportation, tourism and other infrastructure continues apace. Some of the projects in the brand’s portfolio include the 372-residential unit Gardenia Residence in Jeddah’s Sala- mah District 2; the 364-room five-star Galleria hotel and retail complex on Jeddah’s Tahlia Street; a retail develop- ment on Jeddah Corniche; and a retail property in the city’s Al-Rawdah area.
// construction business news me // September 2019 38 // Cover Story Sulaiman Abdulaziz Al-Rajhi Real Estate Investments Company Sulaiman Abdulaziz Al-Rajhi Real Estate Investments Company “Al-Rajhi Investments” is a pioneering Com- pany providing distinguished services and innovated solutions in the field of real estate investments. Established since 2002, the Company is operating through its investments in the various regions of Saudi Arabia and is dedi- cating its resources and high technical capabilities for this purpose. During its eventful history, the Company managed within a short period of time to make great achieve- ments and successes. The efforts exerted by its team of professionals, executives and experts in real estate and investment made that success possible. The Company has a strategic vision to achieve a set of objectives and aspirations currently and in the future to improve the real estate business in the Saudi market through innovative programs offering smart solutions that satisfy the needs of the Saudi society and to raise it to international levels. “Al-Rajhi Investments” is taking the lead to develop and implement real estate projects in accordance with the highest technical standards and plans to realize its objectives and meet the expectations of its partners. The Company owns large parcels of lands along with residential and com- mercial properties and hotels in vari- ous cities in the Kingdom including Crown Plaza in Madina and Crown Plaza in Al-Khobar. The Company also has several under-construction projects such as the important, giant multi-use project in the Al-Naseem district in Makkah featuring a set of luxurious hotels, large commercial spaces in addition to a superb hotel overlooking the Grand Mosque in Makkah and a hotel-flats project in Riyadh. In addition, the Company is studying more other projects in the field of hospitality and other real estate sectors. The real estate projects include a group of different investment options with more than 10 projects diversi- fied across a number of regions within Saudi according to the market study. Some of the most prominent projects are “AJA” Residential Tow- ers in Hail city, which is comprised of 14 residential towers with differ- ent heights that include 350 high-end residential units of different sizes and some commercial showrooms, Altawon commercial project in Riyadh city with a land size of 12,796 sqm., Alrajhi Offices Tower which located on King Abdullah Road in Riyadh with a land size of 1395 sqm., Alsafa commercial/offices building project in Riyadh city with a land size of 2,916 sqm. The project concept is to de- velop a 3 floors building that includes 6 showrooms and 18 managerial offices, Sharq Plaza Center in Riyadh City, which includes a commercial center and offices with a total land size of 21,377 sqm, Alshamsiah which contains commercial and offices with 5373 sqm, Alrajhi Center in Makkah which include commercial, offices and apartment with a land size of 7979 sqm.
Envision a truck that could do more with every minute, hour and day. A truck so reliable, you’ll spend more time on the road thanks to longer servicing intervals. A truck with a cab designed to offer more comfort and driveability, as well as on-board fuel coaching systems. A truck with the power to move further, and the efficiency to keep your business running like clockwork. With the all new Croner, we’ve turned that vision into a cutting-edge reality. Keep Your Business Running On Time, Every Time.
// construction business news me // September 2019 40 // Trucks Designed for the most heavy-duty uses on the most extreme terrains such as quarries and mines, the K Xtrem comes with a reinforced chassis and an auto- mated, reinforced Optidriver Xtrem gear- box. The new model offers a drive axle total capacity of 32 to 36 tons, cast iron RENAULT TRUCKS K XTREM Renault Trucks’ ultra-tough, new K Xtrem arrives in the Middle East. Product Manager Ahmed Motaleb tells us how the New K Xtrem offers the most robust chassis on the market and how it is designed for the most extreme conditions engine flywheel housing and C-shaped side member reinforcement. Added to this, customers can specify with 24” off road tires, bolstering the model’s ability to tackle the toughest terrain. Ahmed Motaleb, Product Manager of Renault Trucks Middle East, adds: “When developing the C and K ranges, we deployed significant resources to ensure these vehicles deliver maxi- mum reliability and robustness. Each range underwent rigorous quality trials and were also exhaustively field tested under actual operating conditions.
construction business news me // September 2019 // www.cbnme.com 41 comes with a powerful DXi13 engine, which is able to deliver 2400 Nm of torque at 1050 to 1400 rpm, coupled to Optidriver Xtrem gearbox and rein- forced drive axle, this driveline delivers impressive performance no matter what the operational challenges are. AMTRAC with Renault Trucks team organized a demo to potential custom- ers in a quarry, fully loaded truck on very steep gradients. Customers were impressed by the power of the engine and Optidriver gearbox, they drove the truck as if it was on a flat road. Driving trucks in such working envi- ronment has never been easier, thanks to the Optidriver Xtrem gearbox, the truck was able to perform in the tough- est terrains using the off road mode, climb-ability was impressive, using the manual accelerator helps a lot in bumpy terrains commented one of the drivers. Another customer was also really impressed with the cab, we could feel the cab design is around the driver from the first moment, with all controls at the driver’s fingertips, a 7’’ HD LCD information display, and seats with fitted seat belts designed by Recaro®. Operating environment inside the cab is really quite thanks to the high quality insulation, and the design of the wind- shield and side mirrors guaranteed clear visibility around the cab with minimum blind spots, something crucial for the safety inside the work site. The K Xtrem version takes this one step further by offering our customers the most robust chassis in the market, specifically designed to meet extreme conditions such as those in the Middle East market.’’ The first Renault Trucks K Xtrem is already available in Lebanon, with our new appointed importer: AMTRAC, specialized in equipment providing major brands such as Volvo Construc- tion Equipment. This new Renault Trucks K Xtrem is equipped with a 27m3 Tipper body, with 54t GVW. Tipper body built by TOPCAT Indus- tries, local bodybuilder in Lebanon. The K500 Xtrem supplied in Lebanon
// construction business news me // September 2019 42 // Project launch Azizi Developments announces a new spectacularly designed and strategically-located residential development in Al Furjan, Berton Berton Project
construction business news me // September 2019 // www.cbnme.com 43 Azizi Developments, one of the leading private developers in the UAE, is bring- ing the next generation of urban con- nectivity to life with Berton, a spectacu- larly designed and strategically-located residential development in Al Furjan. The exceptionally well-thought-out master-planned community that hosts this property is situated in the growth corridor of Dubai, boasting outstand- ing accessibility while being a serene escape from the bustle of the city. Offering customers the opportunity to live in one of the most up-and-com- ing locations in the Emirate, Berton features 245 units, comprising 190 studios as well as 41 one- and 14 two- bedroom apartments spread across seven levels that overlook scenic vistas of the city’s skyline. Situated near Sheikh Mohammed bin Zayed Road, Sheikh Zayed Road and the new Expo 2020 Route metro line, Berton is remarkably well tied to the entirety of Dubai’s major points of in- terest. With its ease of access to the vi- brant Expo 2020 site, as well as to the Al Maktoum International Airport, the development is at the very forefront of global interconnectedness. Farhad Azizi, CEO of Azizi Develop- ments, said: “Location, and especially connectivity to major retail, leisure and business hubs, remains a key factor in the home purchase decision-making process, as our research consistently underlines. We’re introducing Berton as a response to this growing de- mand, in a location that is witnessing increasing rental yields and a superb investor response. Our developments in the budding area that is Al Furjan have sold out at exceptionally swift rates and have proven to be outstand- ing investments. We are delighted to add this remarkable development, which reflects the city’s popularity as a metropolitan hub and gateway to the world, to our portfolio.” Berton reflects masterful craftsman- ship and interior artistry with gracefully- furnished homes that have high-end parquet flooring, state-of-the-art décor, and generous space. Built to the highest standards of environmental sustainabil- ity using eco-friendly materials, Berton homes not only assure the well-being of residents, but also offer improved indoor air quality and lower utility bills, given its focus on the sustainable use of energy and water resources. With the company marking 2019 as its ‘Year of Construction,’ Berton will have an accelerated completion schedule. Offering residents a stylish and urban lifestyle, Berton combines practicality, convenience, and harmo- nious living, all in the epicentre of Dubai’s high-growth corridor.
// construction business news me // September 2019 44 // Digital Ease by Emaar is a pioneering concept that provides property management services, handling holiday homes on behalf of investors, providing high return on investment Ease by Emaar
construction business news me // September 2019 // www.cbnme.com 45 Emaar, a Dubai-based global prop- erty developer and provider of pre- mium lifestyles, has announced the launch of Ease by Emaar – a stream- lined short-term rental concept that provides global travellers exceptional stays in elegant homes handpicked by Emaar in their integrated com- munities. The holiday homes market has grown by 161% according to a study by Knight Frank. During the launch event, the de- veloper also unveiled ‘South Beach’, a premium residential beachfront development in Emaar Beachfront offering a unique blend of cosmo- politan living and serene seaside lifestyles. Comprising of 1-, 2-, and 3-bedroom apartments with exquisite furnishings, this will be the first wa- terfront development to be listed on Ease by Emaar for visitors to experi- ence the epitome of leisure, comfort and lavish living. For guests, Ease by Emaar opens a new avenue for visitors to experi- ence a premium lifestyle located in some of the most sought-after destinations in the city. Guests are provided with unrivalled hospitality such as hotel-grade housekeeping and amenities, and a digital mobile concierge, ensuring guests get all the information needed to experi- ence the city, anytime, anywhere. Other amenities offered to guests include unlimited Wi-Fi, a welcome pack, and on-demand Google Smart Home devices such as Chrome- casts for streaming entertainment channels and others. Guests can also get an ‘Ease Pass,’ which provides unbelievable offers and deals to the city’s major attractions. This includes U by Emaar special upgrades, discounts on Emaar hospitality restaurants, and deals to Emaar entertainment attractions such as At The Top, Burj Khalifa, Reel Cinemas and others. Residents of South Beach can also engage in water-sports activities and various lifestyle amenities such as a swimming pool, fitness centre and an extensive choice of play areas for children. Investors in this develop- ment will have the option to let Ease by Emaar manage their property at no additional cost for the first three years post-completion. Emaar Beachfront, which is easily accessible via Sheikh Zayed Road, features uninterrupted captivating views of the waterfront and access to pristine private beaches. For investors, the innovative tech- nological infrastructure offers the opportunity to fill the market gap for short-term rentals and helps them capitalise on an emerging business model, helping them earn substantial returns. Emaar-owned Ease provides an end-to-end property management service, including property setup, reservations management, guest hosting, housekeeping, maintenance, government licensing, and distribu- tion of the listing across Airbnb, Booking.com, Expedia, Agoda, and over 50 other channels.
// construction business news me // September 2019 46 // Country Focus KUWAIT Q3 2019 CONSTRUCTION LANDSCAPE CONSTRUCTION CONTRACT AWARD FORECAST Q3 AND Q4 2019 ($BN) TOP 5 DEVELOPERS COMPANY VALUE ($BN) VALUE OF PROJECTS BY STATUS ($BN) Tender $58.7 Bn (13.7%) $239.2 Bn (55.8%) Design $46.4 Bn (10.8%) Planning $84.3 Bn (19.7%) TOP 5 CONTRACTORS COMPANY VALUE ($BN) TOP 5 CONSULTANTS COMPANY VALUE ($BN) ONGOING PROJECTS BY SECTOR ($BN) Infrastructure $103.5 Bn (43.3%) Urban Buildings $65.3 Bn (27.3%) Oil & Gas $70.3 Bn (29.4%) UPCOMING PROJECTS BY SECTOR ($BN) Infrastructure $78.1 Bn (41.2%) Urban Buildings $37.7 Bn (19.9%) Oil & Gas $73.6 Bn (38.9%) 0 6 3 $12 Bn Total Urban Buildings $2 Bn Infrastructure $3 Bn Oil & Gas $6 Bn 57,000 listed projects in the Middle East. Data as of June 20 2019 https://www.protenders.com/platform/construction_intelligence?utm_source=email&utm_campaign=2019Q2QatarInfographics $239.2 Bn Total $189.4 Bn Total Fluor Corporation 30 Gulf Consult 15.6 Amec Foster Wheeler 14.8 Parsons International 8.5 SSH Design 7.2 Hyundai Engineering & Construction Company 14.8 Petrofac 12.1 Mohammed Abdulmohsin Al Kharafi & Sons Company 9.7 Fluor Corporation 8.2 SK Engineering & Construction 6.7 The Secretariat of The Supreme Council for 125 Planning & Development Kuwait Authority for Partnership Projects 50.5 Kuwait National Petroleum Company 45.8 Ministry of Public Works (MPW) 30.2 Kuwait Oil Company (KOC) 25.7 $428.6 Bn Total Construction Market Overview - Kuwait ProTenders gives us the latest Construction Market Overview in Kuwait for Q3 2019. As of Q3, the total value of projects in Kuwait is at $428.6bn, while ongoing project by sectors is at $239.2 bn. The top five contractors benefiting are Hyundai Engineering & Construction Com- pany ($14bn), Petrofac ($12.1bn), Mohammed Abdulmohsin Al Kharafi & Sons Company ($9.7bn), Fluor Corporation ($8.2bn), and SK Engineering & Construction ($6.7bn). While the Top Devel- opers were The Secretariat of The Supreme Council for Planning and Development ($125bn), Kuwait Authority for Partnership Projects ($50.5bn), Ministry of Public Works ($30.2bn), and Kuwait Oil Company ($25.7bn)
// construction business news me // September 2019 48 When it comes to building design, doors rank high on the list of items requiring intensive collaboration as well as precision in specifications. In fact, in modern buildings, a door is not just a door. It is a technol- ogy platform, almost an architectural project in miniature, involving multiple members of the design team. Further- more, architects and designers rely on qualified hardware specification writers in preparing door and hard- ware specifications because of their expertise in local and international fire and life safety codes, and proficiency with door hardware. Seen as educators and trusted advisors, specification writ- ers work closely with architects and contractors. Collaboration is key to an efficient specification process and emphasizes the need for seamless coordination across all parties. Miscommunication and unclear product scope coverage are common challenges during the review and revision of door hardware specifications. That collaboration goes beyond the specification writer and the architect. End users, security consul- tants, designers and other collaborators all need to weigh in, so it is ideal for all involved parties to start with the same view of what they are working towards. Any gaps in communication can result in all kinds of problems. Enter cloud-based collaboration. Many organizations across the world have today adopted the cloud as a cost-effective platform for host- ing enterprise applications and for developing and deploying customer- facing solutions. According to IDC, with a five-year compound annual growth rate (CAGR) of 22.3%, public cloud spending will grow from $229 billion in 2019 to nearly $500 billion in 2023. And specific to the construc- tion industry, project management Arun Prabhu, Architectural & End User Consultant at Allegion, tells us how the Use of Cloud-Based Collaboration can drive efficiencies, enable seamless collaboration and reduce costs Cloud-Based Collaboration in Construction // Digital
construction business news me // September 2019 // www.cbnme.com 49 More Efficient Specifications Cloud-based collaboration allows a more prescriptive and seamless approach in building design and construction, which can result in efficiencies and time sav- ings. A good example is the firm Allegion was working with, on the specifications for student housing facility at a university in Pennsylvania. The Revit-based project had 1,250 openings, where completing a revision review just to determine what had been changed would normally take a few days manually, cloud-collaboration enabled loading of drawings and schedules to easily review changes made it possible in a matter of minutes. Additionally, with data stored in the cloud, it makes it simple to take measurements or compare plans on any devices from any location. Without a cloud collaboration solution, this kind of analysis is impossible. Not surprisingly, businesses surveyed by TrackVia found that cloud computing resulted in an increase in productivity by 40% and flexibility by 47%. cloud software available today enables cloud-based collaboration which can be used for a variety of applications including door hardware specifications Historically, the construction indus- try adopts technology slowly. Howev- er, in 2017, over 87% of the construc- tion industry revealed they felt open to deploying cloud-hosted software for future projects. In the backdrop of this, Arun Prabhu, Architectural & End user consultant of Allegion provides a quick overview of the ways in which cloud-based collaboration can drive efficiencies during the specification process. Improved Visibility Historically, the only way team mem- bers could see the plans for a project was if they were lying on the table or projected on a screen. Each member would then open their own software to see the hardware associated with each opening. The remainder of the process was often a waiting game with files shared back and forth each time there was a revision. Without a clear way to track changes or con- versations, information could easily be overlooked or misunderstood. Moreover, separate conversations with the security integrator or owner often led to details being lost in translation. Cloud-based collaboration eliminates these issues by enabling file sharing, revisions, conversations with key col- laborators and more all in one single location. For example, Allegion's Overtur is a cloud-based application where architects, designers and project team members can come together to collaborate on the specification, de- sign, and construction of door security and openings. It provides a centralized place to capture, maintain and verify door hardware requirements and deci- sions, with easy options to push that information back to the design tools. Such cloud-based ecosystems give users visibility to all designs in a live environment, give an option to review and make collaborative changes, send BIM data directly to a project, stream- line the specification cycle and reduces errors – all those important steps for effective collaboration. Reduction in Errors Platforms today have ways of integrat- ing communication into their system, as a result of which, emails and texts are available to see within project folders rather than just on a phone. In other words, information can be verified, leading to fewer errors. At the same time, cloud-based collaboration can also help improve project check- lists. Programs today enable creation, sharing and updating of tasks so that all stakeholders have real-time data. When all parties collaborate and work from the same view versus waiting for documents to be sent out, reviewed and returned by design partners sepa- rately, there is a significant reduction in errors and deficiencies ahead of time.
// construction business news me // September 2019 50 // Company Profile Yenal Gül, Head of Sales at OSRAM Lighting Middle East, tells us about the latest technology and innovation being introduced for their lighting products. Beyond Lighting OSRAM’s expectations for 2020 and beyond We are one of leading photonics com- panies in the world with the ambition to improve people’s life by using light as a vehicle. We have a broad vision of the industry for 2020 and beyond. One main trend that shapes our industry is connectivity. Bringing intelligence to devices is becoming economical and accessible thanks to the innovations done by OSRAM with other firms that prioritise Research and Development as a corporate function. The next decade will see tremendous growth in IoT devices with a wide range of consumer applications from personal medical care to autonomous driving.
construction business news me // September 2019 // www.cbnme.com 51 Latest technology being introduced by OSRAM Each business segment of OSRAM runs in an innovation program in differ- ent fields. Our new LED drivers for instance come with NFC – Near Field Connectivity feature which allows facility managers to maintain automa- tion setting with a simply “copy/paste” action with their mobile phone. In our Dynamic Lighting Business segment, we have launched SympoLight, a con- trol software powerful enough to con- nect and orchestrate various lighting systems in whole cities or neighbour- hoods. Another impressive innovation is our CHRONOGY Eyewear: a light treatment glasses that create supple- mental lighting comparable to natural light from the sky. It can be used for controlled transition to different time zones with minimized jetlag symp- toms. In our Entertainment business, we have launched the very first laser fixture, allowing for unmatched colour rendering and very narrow beams. Again, OSRAM was the first company to develop Laser headlights for the automotive industry. Now, we are working to extend the use of LiDAR, a sensory system for autonomous vehicles. Innovation On one end, we listen to our custom- ers and partners. On the other end we constantly work with various materials to explore their value to human life and their potential use for the industries that we serve. This is an everyday process for OSRAM. In the Fiscal Year of 2018, OSRAM has applied and filed a total of 17,800 patents, that is almost 48 patents a day including the weekends. Importance of Sustainability Along with miniaturization and con- nectivity, energy saving is one of the major trends in functional lighting. Our approach is on both ends of the sys- tem. We design systems and compo- nents that delivers highest lumens per watt. Together with that, we develop automation devices and software for proportional use of the lighting systems, allowing for “light, only when and where needed” settings. Finally, we provide on-site commissioning services to make sure that everything works as intended.
// construction business news me // September 2019 52 // Sustainability Kasun Illankoon spoke with Jyrki Pikkarainen, General Manager, Middle East Granlund International, about their latest innovation and technology that is redefining the construction industry. Innovating - the Granlund Way Expectations for 2019 and beyond Our key goal is to make properties more functional and smarter and to improve human well-being and happi- ness in the built environment. We are the market leader in Finland in MEP design and facility management and maintenance software. On the interna- tional markets, we focus on promoting our facility management and mainte- nance software Granlund Manager. Our vision is to act as a bold inno- vator in the global market. We want to take the real estate and construc- tion sector to the next level with long- term development and innovation. We carry out international projects in all our areas of expertise, but the spearhead of our global operations is our software business. The Group is making systematic progress towards its 2020 goal of reaching EUR 100 million (USD 107 million) in annual net sales. This year Granlund invested EUR 4.8 million (USD 5.1 million), or about 6% of con- solidated net sales, in innovation. The net sales of Granlund Group grew by approximately 14.4% year- on-year to EUR 81.4 million (USD 86.7 million). The Group’s EBIT was EUR 10.4 million (USD 11.1 mil- lion), increasing by 24% from 2017. The Group’s solvency and liquidity remained good. Software business grew by approxi- mately 15%. The relative growth of the international Granlund Manager Software business was significant. The market with the most potential is the Middle East, where partnerships have paved the way for cooperation with the largest companies in the region. In China, the most promising customer segment is the hotel sector. Part of the concrete industries complex Affiliate of ASGC
construction business news me // September 2019 // www.cbnme.com 53 Achieving Sustainable Standards Well-functioning technology makes buildings better for people. When it comes to best MEP technology, we know how to design, build, run and maintain it because we have been designing it since 1960. In Finland, we have very high standards in for example air quality and tempera- ture inside buildings. It is also very important to observe and control these matters throughout the whole lifecycle of the building and this is where our software Granlund Manager has a great role. We believe that the future build- ings are smarter than today’s build- ings, the technology already enables smarter buildings that we see today. Our mission is to ensure our custom- ers the benefits of well-functioning technology. We bring building data from different sources into one system. This helps the real estate manager and owner to manage the building in a modern and efficient way. In the building industry, it all comes down to co-operation between dif- ferent stakeholders: the architect, the MEP designer, the consultants, the constructor and the users of the buildings should all work together. We bring our profound expertise to this equation to help contractors and developers make smart and functional buildings. Our success is based on ac- tive development and innovation. We constantly seek, develop and test new procedures, software, and services. We are on the frontline of deploying advanced digital tools and operating models, such as virtual technologies, the Big Room, Lean and BIM models. Each year, we invest approximately 6–8 percent of consolidated net sales in research and development. Our goal is to develop sustainable technologies and new ways to manage information to serve the users of properties even better. A good example is the Digi- tal Twin that will transform property maintenance and services. Strong focus on Innovation and Technology One of our innovations is the Gran- lund Manager software and all its features. One of the latest tools in the software is the BIM to FM solution (The Virtual property). The solution enables effective use of maintenance management systems and introduces building information models (BIM) to property maintenance. The Virtual property is the Digital Twin of the building, helping to man- age the data related to the property. The BIM model can contain data from the BIM used during the design phase, from IoT and automation systems and users. This way, the Virtual prop- erty also serves as a communication channel between the property owner, maintenance personnel and users. The amount of data is growing at properties continuously. Data management can only succeed when property Big Data is displayed as illustratively as possible. The vir- tual property takes the usability of Granlund Manager to a new level and makes property data visually available to a range of users, from property managers to end-users. Granlund operation in the Middle East Granlund Middle East has been hap- pily welcomed on the market. We have already established hundreds of buildings under GM with main- tenance and service functionalities. Our typical end clients are from governmental companies through our local partner network. Operations expand rapidly and the number of installations will be thousands during the next one to two years. There has been high demand for technology that understands how a building operates and performs but only big players have understood how easily and quickly savings can be made through proper and monitored maintenance. For sure, increasing energy costs drive every player toward real and proper facility management.
// construction business news me // September 2019 54 // Event preview BIM Middle East 2019 Conference & Expo ‘Open BIM: The Key To Industry 4.0’ is set to take place on 23rd - 24th September 2019 The Future of BIM BIM Middle East 2019 Conference & Expo is the region’s international, stra- tegic level event on Building Informa- tion Modelling. BIM stakeholders from government, contractors, infrastructure, architecture, and civil engineering will meet in Dubai to discuss key issues of BIM design and asset management processes that’s driving the indus- try forward. The high-level program includes international presentations from UAE, Kuwait; UK, Europe, and Australia. Here’s why the event is an important landmark when it comes to the conversation of BIM: BIM Middle East 2019 Construction industry professionals have continuously searched for ways to make development of the built en- vironment a faster, efficient, safer and more cost-effective process. Developments and advancements in computer software have grown expo- nentially over the last few decades in the construction sector, perhaps none more so than Building Information Modelling (BIM). BIM facilitates virtual visualisation of the complete physical and functional representation of a built asset and environment which includes information on design, construction, budget, logistics, materials, operation, schedules and maintenance. UAE's adoption of BIM UAE’s construction sector has been rapidly expanding following Dubai being announced as host of Expo 2020. With recent Dubai Municipal- ity mandates, BIM is now increasingly being used on large scale projects in the UAE. Abu Dhabi also announced recently a decision to adopt BIM. Dubai's Roads and Transport Author- ity (RTA) recently unveiled the Middle East and North Africa's first building in- formation modelling (BIM) centre. This follows the launch in 2015 by the RTA of a BIM platform that deals with assets information in an all-inclusive method commencing from the design stage. Expert Panelists Major contractors will be presenting their perspectives too! Arsen Safaryan, Head of BIM & Digital Construction at ALEC will review critical issues for BIM with a presentation on Challenges for BIM and future project requirements from a contractor’s perspective. Denis McNelis, Engineering Man- ager, BAM International Middle East / Gulf States will present Utilisation of BIM for complex structures looking at the dynamic use of BIM with proj- ect overview of the Dubai Museum of the Future. Architects perspective will be given by Andrew Milburn, Associate, Godwin Austen Johnson on utilising information rich BIM technologies and processes including unlocking more efficient and collaborative design, con- struction and long-term asset use.
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// construction business news me // September 2019 56 // Machinery Bobcat Attachments Expand with Loader Remote Control Bobcat is a major player worldwide in the attachment market. For the compa- ny’s market-leading range of compact loaders, the attachment range has just been expanded with the launch of the new Bobcat Remote Control System. All Bobcat compact loaders are equipped with the quick-change Bob- Tach attachment mounting system, facilitating the quick and safe inter- change of over 100 different types of Bobcat attachment. The new Remote Control System has been designed in the same way – it is a plug and play system comprising an easily portable and industrial radio remote control solution that can be mounted and dismounted on machines very quickly, leaving behind the standard machine in its original form. In the Remote Control video, a Bobcat T450 compact track loader and an S100 skid-steer loader are shown working with Grapple, Pallet Fork and Combina- tion Bucket attachments, but of course there are many more, including Vibratory Roller, Soil Conditioner, Auger, Trencher, Landplane, 2D/3D Laser Grader and Dozer Blade attachments from Bobcat. Increased Safety and Productivity Remote control aims to increase safety, comfort and productivity by distancing the operator from dust, noise, vibra- tions and other hazards encountered at the workface or on job sites that require special safety precautions. Work can be done faster with higher precision and, in some applications, with fewer personnel on the job site. For increased safety, the system also features an emergency stop button and drop and tilt detection. It allows direct sight of the work in progress, further increasing the versatility of the loader and a compre- hensive range of attachments including angle brooms, augers, breakers, buck- ets and snow blowers. With trenchers and wheelsaws, where the operator specifically needs to drive backwards with the loader, this solution offers perfect visibility of the project. It also allows operators to talk face-to-face with project partners and manage the surroundings (verbally or non-verbal- ly) at the same time. Other applications include demo- lition environments with poor air quality and distracting noise, where the Remote Control System gives the operator the ability to do work from a distance, free from dirt, dust and noise. In shipyards and in vessels with limited space in the hold, distancing the operator from the loader keeps them
construction business news me // September 2019 // www.cbnme.com 57 away from other loading machinery such as grabs and the materials they are carrying, separating them from hazard- ous chemicals and other airborne pollut- ants as well as falling heavy objects such as scrap metal and other items. The job can be done more easily, with better vis- ibility for managing tight spaces in and around containment areas. In the waste and recycling indus- tries, the remote control solution allows operators to handle dangerous or toxic materials from a safe distance, minimizing the risk of exposure. With the remote control solution, operators can work on hazardous applications (such as detecting and removing land mines) and also disasters like floods, forest fires, mud or rock slides and in other places where operators can be subjected to dangerous situations. Installed in a matter of minutes as the video shows, the new Remote Control System allows operators to leave their seat in the cab and control their Bobcat loader remotely. It is com- patible with Bobcat skid-steer, com- pact track and all wheel steer loader models equipped with the company’s Selectable Joystick Controls. Simple Plug and Play The new plug and play system com- prises an easily portable and industrial radio remote control solution that can be mounted and dismounted on ma- chines very quickly, leaving behind the standard machine in its original form. Every remote-control kit is protected by a dedicated password, with two- way communication providing all the important information about the loader (such as fuel and oil status, warnings, etc.) on a 3.5-inch transflective colour backlit LCD display. The system provides most of the func- tions that can be performed via direct loader operation, including throttle, light, creep and float controls. There is also speed management control to ensure easier operation in certain applications (such as trenching, tilling, scarifying and so on). The system is very intuitive to use and the training for end users will be provided by Bobcat dealers. The Remote Control System is supplied with two exchangeable batteries offering a long 20-hour battery life. The protective case ensures it is easier to transport from one job site to another. This forms part of an updated state-of-the-art ergonomic design with the system housed in a rug- ged and weatherproof enclosure. World Leader in Attachments As a market leader worldwide in at- tachments, Bobcat offers customers many advantages in this market. They include the company‘s One-Stop-Shop approach – providing every possible combination of machine and attach- ment from one source and an impres- sive stock of products available for immediate shipment. This is backed by the service support of the comprehen- sive Bobcat dealer network in Europe, the Middle East and Africa, offering Service Specialists and excellent Parts availability to reduce downtime. The warranty protection avail- able from Bobcat allows customers to avoid the disputes that may arise from the compatibility and operat- ing problems that are caused by the use of non-approved attachments. In contrast, all Bobcat attachments are engineering approved, ensuring that they are optimized for efficiency, performance and greater productivity. This results in lower operating and maintenance costs.
// construction business news me // September 2019 58 // Equipment Spac has taken delivery of the first electric Volvo compact excavator Following the unveiling of the first electric Volvo compact excavator, the ECR25 Electric, at Bauma 2019, the machine has now been delivered to Spac for customer testing. Spac, part of the Colas Group, is using the 2.5-tonne excavator to dig trenches at the Saint-Nom-la Bretèche golf course, just outside of Paris, France. With zero exhaust emissions and almost silent operation, the Volvo ECR25 Electric is perfect for such environments. “It’s exciting for us to see this machine at a client’s construction site,” says Elodie Guyot, electric compact excavator project manager for Volvo Construction Equipment (Volvo CE). “It’s in a very quiet and peaceful area where residents want that quietness and peacefulness to be respected so it’s crucial to have a machine that meets this need.” Benjamin Silvent, site manager for Spac says: “For residents and cities in general, it makes our worksites more acceptable because it limits carbon emissions and noise disturbance.” Alexandre Birot, machine operator for Spac adds: “When we talk to the guy in the trench we don’t have to yell, we talk normally and he can hear everything. With a traditional excavator we first have to turn the engine off for him to be able to hear. What’s more, when we spend the whole day in the trench, usually he would inhale a lot of fumes but now there’s no exhaust gas for him to inhale. If there were only electric machines in the company that would be amazing.” The Volvo ECR25 Electric replaces a combustion engine with 48-volt lithium- ion batteries and an electric motor that powers the hydraulics to move the machine and attachments. The batter- ies store enough energy to power the machine for 8 hours in typical applica- tions, such as utility work. An onboard charger enables overnight charging via a regular household plug socket. A fast charging option, requiring more power- ful grid access, will also be available. The Volvo ECR25 Electric will be available in selected markets from mid-2020.
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// construction business news me // September 2019 60 Goals and objectives Realising the potential of the Savills brand within the MENA region is a huge opportunity. Despite employing over 35,000 people in 600 countries globally, Savills has a very entrepre- neurial ethos and I hope to deliver services and solutions that set us apart in the Middle East. Knowing that the investment and infrastructure is there to support these opportunities gives us a broad canvas to be creative and to deliver client-centric solutions. Positioning Savills as one of the market leaders Savills is a people-centric business and is successful by having the best real estate professionals representing the brand across all service lines with a strong focus on delivering bespoke solutions. We believe we achieve this through the comprehensive marketing support we offer. Our focus is not only to promote our own brand, but also to support the marketing strategy requirements of our clients and their projects. Our goal is to add value by offering marketing consul- tancy to clients across the MENA region who either have no in-house marketing expertise, or limited resources. Deliver- ing excellence in everything that we do and adding value where it isn’t expected are areas that I would hope clients say the Savills Marketing team are leading the way in the region. We ultimately be- lieve that success for us comes through success for our clients and trust this rela- tionship is the reason why they continue to recommend us. Attributes My background is marketing consul- tancy and I spent the first 15 years of my working life in creative agencies. I hadn’t worked extensively in the real estate sector until I joined the com- pany 5 years ago. Other members of the team have worked for real estate developers or for regional real estate brokers. We each bring a different perspective, a different skill set, a different network and ‘black book’ of contacts that we fuse together to deliver the best solutions. Importance of Teamwork The marketing team sits at the heart of our Middle East business and is the central point of coordination for many client projects and internal initiatives. It’s imperative that we develop produc- tive working relationships with each team, across all seven countries. We have to be adaptive and willing to flex our priorities daily. And we do! We can only do that if we all pull together to support one another and the evolv- ing needs of the business. My team is awesome. They work hard, learn fast and challenge me and themselves daily to be better. There’s the old saying, “If you want to go fast, go alone; if you want to go far, go together.” It sounds like a cliché, but I could not do my job without their talent and support. Fay Lloyd, Head of Marketing and Business Development, Savills Middle East, tells us about her role and she he is helping contribute to Savills success Lloyd Unsung Heroes September 2019
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// construction business news me // September 2019 62 // Save the date Mark your calendar Save the date BauMesse Kaufpark Eiche, Panketal, Germany BauMesse will display a wide variety of construction and in- sulation materials, marble stone carpets for interior and exterior, doors and windows, shutters, awnings, insect screens, patio roofs, door drives and gates, bal- cony railings, patio furniture and vacuum cleaner. Arab Future Cities Summit Dubai, UAE This edition of the conference will analyse the rapid development this region has seen in order to evolve into one of the leading smart cities in the world. Smart cities chan- nel urban development with its citizens at the heart of it, and the Emirate of Dubai has been leading the way in its various smart city developments and plans. August September September September September 26 01 16-17 17-19 23-24 Facilities Management Expo Dubai, UAE The FM Expo is an interesting event that looks forward to the presence of property manage- ment services, property management solutions and supplies, facilities management product supplies, pest control products and services, maintenance systems and solutions, lighting systems and solutions, integrated facilities man- agement software, landscaping products and services, energy management services and solu- tions, emergency evacuation solutions and ser- vices and much more to talk about. The visitors are benefitted as they get direct access to key suppliers across the Gulf region and beyond. BIM Middle East 2019 Conference & Expo Dubai, UAE This September sees an important event for the region’s AEC and related sectors. Representa- tives from government, contractors, architects, consultants, and other stakeholders will meet in Dubai to discuss the latest and future develop- ments for Building Information Modelling (BIM). Keep up to date with all the latest events and much more on our website. www.cbnme.com On the web
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