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Commenting on GFH's participation in the seminar, Mr. Esam Janahi, Chief Executive Officer and board member of GFH said: "The seminar will reinforce and enhance the growing relationship between Singapore and the Middle East and will help to inform companies in Singapore of the extensive opportunities that they will find in our part of the world."
"The infrastructure sector in the Middle East is booming and there are an abundance of opportunities for Singapore-based companies to participate" he added.
According to the BCA Export Survey, construction exports to the Middle East in 2004 constituted more than 20 per cent of the total of overseas construction orders.
The seminar, which will be held at the Meritus Mandarin Hotel - Singapore will throw more light on the drivers behind the boom in the Middle East market and will provide Singaporean companies with information on specific projects and opportunities currently available to them.
The seminar is the first of its kind to be organised by the Singaporean real estate and infrastructure developers industry.
REDAS Executive Director Mr. Chia Hock Jin said: "Several seminars have been organized that deal with the Middle East market generally since our Senior Minister's visit to the region earlier this year but none have dealt specifically with opportunities in infrastructure development."
"The Middle East region, especially UAE, Bahrain and Qatar, is teeming with opportunities for our construction and real estate firms. A small number of firms, such as SembCorp E&C, Salcon, Meinhardt and DP Architects, have already ventured there and are doing well. This seminar will help to further deepen our understanding of the markets in the Middle East and also help to persuade those to enter who are interested but are hesitant", commented Mr. Low Chin Min, Director for Business Development, BCA.
Chesterton International's Executive Director for Middle East Investments, Mr. Fazlur Rahman, said: "We have seen huge interest in the Middle East market for several months now and we felt it timely to organise a seminar to help Singaporean developers and investors to better understand what is happening in the Middle East and to inform them of the extent of the opportunities available to them now."
On the sidelines of the seminar, GFH will be showcasing its projects in the GCC countries and the wider region. The projects which will feature at the meet include the investment bank's flagship project, the US$1.3 billion Bahrain Financial Harbour (BFH). Chesterton International is the marketing consultant in the Asian markets for the integrated financial city project.
The projects at the seminar also include GFH's Al Areen development, which envisages reinforcing the reputation of Bahrain as a friendly destination for family and health-oriented tourists and increase the share of tourism in the country's GDP. Al Areen has partnered with the Singapore-based Banyan Tree to operate and manage the project's US$140 million desert spa and resort, renamed Banyan Tree Desert Spa and Resort. Al Areen is Banyan Tree's first project in Bahrain.
Other projects of GFH which will be showcased include the two phases of the US$1 billion Royal Metropolis project in Jordan - Jordan Gate and Royal Village. Also featured will be the entertainment and leisure-oriented US$3.8 billion project, Legends Dubailand, in the United Arab Emirates and the investment bank's latest project, Energy City- Qatar, an integrated master plan development for the regional oil and gas sector. The first phase of Energy City-Qatar is valued at US$1.6 billion.
The seminar precedes a business mission to the Middle East, jointly led by REDAS and BCA which is scheduled to be held between 14th and 21st November this year.
Added Mr. Fazlur, who will also be speaking at the seminar: "Most people have the common misconception that the Middle East is one large war zone and that there are only re-construction opportunities there. This cannot be further from the truth. The volatile areas are restricted to the eastern part of the Middle East while the region we are talking about is the Gulf region, which is as stable and as safe as Singapore. There are thriving cities in the Gulf Area which are growing just as rapidly as those in India and China and they represent real opportunities."
Posted by Lara Lynn Golden, News Editor
