Arab British Chamber of Commerce Newsletter 12

Arab-British Business Volume 36 Issue 8 December 2013 Monthly bulletin of the Arab British Chamber of Commerce

DP WORLD’S LONDON PORT OPENS See page 12

CHAMBER NEWS

NEW MEMBERS

Monthly bulletin of the A-BCC Editorial Team Abdeslam El-Idrissi Cliff Lawrence David Morgan Dr Yasmin Husein Arab-British Chamber of Commerce 43 Upper Grosvenor Street London W1K 2NJ Tel: +44 (0) 20 7235 4363 Fax: +44 (0) 20 7245 6688 d.morgan@abcc.org.uk (English Editorial) y.husein@abcc.org.uk (Arabic Editorial) www.abcc.org.uk

Production & Design Distinctive Publishing Unit 2b Floor B Milburn House Dean Street Newcastle Upon Tyne NE1 1LE Tel: 0845 884 2343 www.distinctivepublishing.co.uk

Advanced Vision Care 77 Harley Street LONDON W1G 8QN Tel: +44(0)20-7935 7497 Fax: 0870 755 9811 Email: ct.pillai@advancedvisioncare.co.uk; Umit.shah@advancedvisioncare.co.uk Website: www.advancedvisioncare.co.uk Contact: Mr C T Pillai Medical Director Business Activity: Laser vision correction; cataract surgery; keratoconus treatment

International University of America 1 Hastings Street Royal Arsenal Gatehouse Beresford Square LONDON SE18 6AR Tel: +44(0)20-8331 0555 Fax: +44(0)20-8316 6656 Email: enquiries@iua.ac Website: www.iua.ac Contact: Dr Peter NG Director Business Activity: BA, MA and PhD courses

Foundation for International Education 114 Cromwell Road LONDON SW7 4ES Tel: +44(0)20-7591 7750 Fax: +44(0)20-7591 7778 Email: hania@fie.org.uk Website: www.fie.org.uk Contact: Ms Hania al Muhaisen, Chair Business Activity: Education and Training

Parameter Hopkins Engineering Limited Unit 7 Hatch Industrial Estate Gerywell Road HATCH RG24 7JL Tel: +44(0)771-842 5321 Email: atm@parameter-hopkins.com Contact: Mr Ahmed Muallah Managing Director Business Activity: Manufacturer and distributor of water meters

Imperial Tobacco Group Ltd PO Box 244 SOUTHVILLE BS99 7UJ Tel: +44(0)117-9636 636 Email: Adam.Cleave@uk.imptob.com Website: www.imperial-tobacco.com Contact: Mr Adam Cleave, Intergovernmental Relations Manager Business Activity: Food, Drink & Tobacco Intercargo Limited Unit 655 River Gardens North Feltham Trading Estate FELTHAM TW14 0RB Tel: +44(0)20-8831 9770 Fax: +44(0)20-8831 9377 Email: info@intercargo.co.uk; majeed.douglah@ intercargo.com Website: www.intercargo.co.uk Contact: Mr Majeed Douglah, Business Development Executive Business Activity: Freight forwarding

Roxylight Project Services (Nottingham) Limited 50 Aylesbury Road Aston Clinton AYLESBURY HP22 5AH Tel: +44(0)129-663 3700 Email: nigel@roxylight.co.uk Website: www.roxylight.co.uk Contact: Mr Nigel Brunskill, Managing Director Business Activity: Property development and management Safcorp Limited 49 Latymer Court Hammersmith Road LONDON W6 7IE Tel: +44(0)776-565535 Fax: +962 6 5939357 Email: safcorp@aol.com Contact: Mrs Narmin Kirdar, CEO Business Activity: Corporate uniforms for army, police and hospital staff

CONTENTS New Members

3

Advertising

London Gateway

Distinctive Publishing Tel: 0845 884 2343 john.neilson@distinctivegroup.co.uk

Business & Project News

14-17

Saudi Arabia

18-19

Disclaimer

Legal

20-22

Distinctive Publishing or Arab-British Chamber of Commerce cannot be held responsible for any inaccuracies that may occur, individual products or services advertised or late entries.

No part of this publication may be reproduced or scanned without prior written permission of the publishers and Arab-British Chamber of Commerce.

ISSN No: ISSN 0958-8116

Morocco

12

24

Reports in Arabic

26-31

Tenders

32-34

Business Events & Trade Fairs

36

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CHAMBER NEWS

ABCC HOSTS INTERNATIONAL INTELLECTUAL PROPERTY CONFERENCE The Arab British Chamber of Commerce hosted a major conference on intellectual property rights on Thursday 12 December 2013.

The event brought together key ministers responsible for IP laws along with legal experts from Britain and around the Arab world to discuss the latest developments in IP rights and the regulations needed to combat the spread of IP crime including fake goods, illegal downloads, trademark and copyright violations.

Rt Hon Baroness Symons, Chairman of the ABCC, chaired and opened the proceedings by setting the agenda for the conference which was held at London’s Langham Hotel.

She explained that protection of Intellectual Property had been an important issue for business since the beginning of inventions.

The first keynote speaker was HE Dr Muhammad bin Abdul-Kareem Al-Issa, the Minister for Justice, Kingdom of Saudi Arabia and President of the Supreme Court of Justice in Saudi Arabia.

He outlined the laws in place in Jordan covering key issues such as trade secrets and protection against unfair competition. Jordan was a WIPO member and had been a member of the WTO since 2000.

Lack of cross-border action and lengthy legal processes also impeded effective measures against criminal infringements. Sentences and fines were often too minimal to deter repeat offenders.

The Minister said that effective action was a priority of the Jordanian government and customs officials had the right to seize suspect products at the border and would take swift legal action against those importing such goods.

The Rt Hon Lord McNally, the UK Minister of State for Justice, praised the ABCC for taking

The Minister stated that legal and administrative action was needed to protect vulnerable businesses from the threat of piracy.

Lord McNally said the international dimension was a vital one and he looked forward to closer cooperation between the justice departments of the UK, Saudi Arabia and Jordan; and in fact the UK Ministry of Justice was already working with Jordan on combating cybercrime.

He said that the manufacturing of fake goods was a serious criminal offence in the UK with a penalty of up to 10 year imprisonment.

The Minister said that the ABCC conference offered a unique opportunity for extending global cooperation on issues such as cyber security.

She also thanked the conference sponsors, Al Rashed & Sons Group and DLA Piper, for their support.

Action was being taken at the global and Arab regional levels, the Minister stated.

Dr Al-Shuaiby was congratulated on her reappointment as Secretary General & CEO of the ABCC.

There is a need for the protection of borders as well as for legislation to combat cross-border piracy.

HE Sheikh Nasser Bin Ibrahim Almohaimeed, Head of the Judicial Inspection and Member of the Supreme Judicial Council

At the conclusion of this opening session, certificates of appreciation were presented to the three ministers by Baroness Symons on behalf of the Chamber.

A panel discussion on the theme of Strategic Dialogue on Changing Public Perceptions on Counterfeiting and IP Theft was chaired by Barrister Cherie Blair CBE, QC, Omnia Strategy LLP.

Counterfeit goods needed to be stopped at the border; not only do such fake goods violate the rights of the producer they are pose a threat to the consumer. This was particularly the case with food and medicines.

The distinguished panel considered how best to collaborate at government level and businessto-business.

In the Kingdom of Saudi Arabia, he explained, there were a number of bodies offering the protection of IP rights including the Ministry of Commerce, the Ministry of Information and the strong judiciary and legal framework.

The second keynote speaker, HE Dr Bassam Al-Talhouni, the Minister of Justice, Hashemite Kingdom of Jordan, said that the development of any economy depended on creativity and innovations in the arts and sciences. These activities demanded proper protection to ensure economic progress and prosperity.

He said that he took a keen interest in IP rights as the issue was important for the UK because the creative industries were one of the country’s success stories.

In her speech Dr Afnan Al-Shuaiby, ABCC Secretary General and CEO, delivered a personal thanks to ministers of justice of Saudi Arabia and Jordan and to Lord McNally.

IP rights were a topical issue with advances in technology and serious violations such as piracy of technologies destroy creativity and undermine innovation.

The Minister explained the actions taken by Saudi Arabia to offer legal protection and adopt laws that were in conformity with international conventions.

the initiative in holding the conference and said that he had long been aware of all the excellent work of the Chamber.

Mrs Blair said that a key issue was how to influence consumer awareness and the need to work together to address the issues.

Mr Majed bin Mohammad bin Garoub, Secretary General, the National Union of Lawyers in the GCC.

Mr Adil El Maliki, Director General, Moroccan Industrial and Commercial Property Office (OMPIC), described his country’s experience in protecting IP.

CHAMBER NEWS

HE Dr Muhammad bin Abdul-Kareem Al-Issa, the Minister for Justice, Kingdom of Saudi Arabia.

Dr Afnan Al-Shuaiby, ABCC Secretary General and CEO

Rt Hon Lord McNally, the UK Minister of State for Justice.

He said that globalisation has an impact on all brands around the world but it was local brands that were the first to be damaged.

He said that the registration of patents in Morocco was growing, and was an indication of the growing awareness among local firms of the importance of IP. HE Sheikh Nasser Bin Ibrahim Almohaimeed, Head of the Judicial Inspection and Member of the Supreme Judicial Council, told the conference that legislation needed to be clear as did the consequences of committing an offence.

He said that it was important to consider prevention before prosecution and that preventative measures could be taken to protect IP rights.

There was a need for ethical and humane awareness among traders and business innovators.

The actual spending power of consumers needed to be considered in order to give people legal access to goods that were on the market.

He said an attack on IP should be seen as an attack on the entire society.

H E Sheikh Ibrahim Bin Abdel Aziz Ghossn, President of the National Committee of Lawyers, declared that IP was one of most vital legal matters.

He praised the conference for offering an opportunity to address the latest strategies needed to meet the challenge posed by IP violations.

Rt Hon Baroness Symons, Chairman of the ABCC.

H E Sheikh Ibrahim Bin Abdel Aziz Ghossn, President of the National Committee of Lawyers.

HE Dr Bassam Al-Talhouni, Jordan Minister of Justice.

It was essential to protect innovation and he estimated that the Arab world lost some $50 billion annually as a result of IP theft and counterfeiting.

Countries have much to learn from each other, the Minister said, announcing that the UK would be hosting a major international IP summit next summer and looked forward to Arab participation.

He explained that the protection available in the Arab world had its roots in the principles of Islamic law.

Mr Majed bin Mohammad bin Garoub, Secretary General, the National Union of Lawyers in the GCC, said that the conference had helped clarify that the utmost was being done to protect victims from IP violations.

Robert Bond, Partner, Speechly Bircham LLP, provided a UK perspective on how to change public attitudes about IP rights.

Recent developments show that education was central to combating IP piracy, he said.

One in five companies had faced an attack on their trade secrets in the last 10 years, he warned.

The second session on Co-ordinating Law Enforcement Against Counterfeiters was chaired by Mike Pullen, partner DLA Piper and ABCC Board Member.

The keynote speech was delivered by Viscount Younger of Leckie, Parliamentary Under Secretary of State for Intellectual Property, who described the action that the UK was taking to enforce IP rights which were crucial to innovation and growth.

He explained that counterfeiting was an industry that runs in parallel with mainstream industries.

Interpol had confirmed that the same factories were producing parts for genuine products as well as producing fake goods.

Barrister Ms Jane Lambert said that the Agreement on Trade Related Aspects of Intellectual Property Rights, known as TRIPS, was the lynchpin of the IP system.

She explained that international obligations to protect brands, art and literature came into force under the WTO. Finally, David Meldrum, Partner, D Young & Co, looked at the positive legislative framework needed to support innovators and assist those seeking to register their products.

The Minister said that many enforcement agencies in the public and private sectors had a stake in ensuring IP protection in the UK.

He said progress in IP awareness had been made around the world and that it goes closely with investment in research & development in the Arab world.

The IP Office (IPO) coordinated all the UK’s efforts and was achieving success the Minister said, pointing out that it was a model of good practice overseas.

In summing up, Baroness Symons declared the conference a success in that it had raised some key questions of concern to industry, innovators and exporters.

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CHAMBER NEWS

ABCC BUSINESS DELEGATION TO JORDAN With the aim of assisting companies to take advantage of the many opportunities offered by the Jordanian economy, the Arab-British Chamber of Commerce in partnership with the Embassy of the Hashemite Kingdom of Jordan in London and the Jordan Investment Board, led a high profile multi-sector business delegation to Jordan on 19 and 20 October 2013.

Jordan was selected for the visit as it is a market that offers an array of opportunities for British companies seeking to do business in the Middle East. The Kingdom’s economic system is founded on free enterprise and private sector initiative. During the last decade, Jordan has experienced robust economic growth of 6-8% each year, and fared well during the global economic downturn.

The Chamber delegation participated in a specially designed programme of business activities comprising tailored B2B meetings and site visits, in which prominent local organisations, such as the Jordan Chamber of Commerce and Amman Chamber of Commerce, were involved. The delegation was also privileged to attend a private audience with HM King Abdullah II of Jordan, who welcomed and addressed the delegates at the Royal Hashemite Court.

The delegation comprised key representatives of some leading companies: London & Partners, Shell, National Express Group, Blenheim Capital, Europe Arab Bank, One Financial Markets, Life Technologies, Kensington and Chelsea Education Ltd, The King John School, Bradford College International Centre and British American Tobacco.

Their itinerary began with a meeting inaugurated by Mr Issa Murad, Vice President of the Jordan Chamber of Commerce, who welcomed the delegates to the country and stressed the important role the Chamber has played over the years in building trade relations between the Arab world and the United Kingdom.

Dr Afnan Al-Shuaiby, Secretary General and Chief Executive of the ABCC, who led the delegation, thanked the Jordan Chamber of Commerce for hosting the reception and for its assistance in organising the programme.

Mr Bassem Farradj, Secretary General of the Amman Chamber of Commerce and CEO of several leading Jordanian private enterprises, praised the work of the ABCC over the past four decades, and emphasised its unique role in promoting bilateral trade between the Arab and the British markets.

Finally, Dr Loay Munir Sehwail, General Manager of Jordan Industrial Estates Corporation (JIEC), outlined the improved quality and expansion of manufacturing in the Kingdom.

In the evening, delegates met with the Chairman and Member of the Board of the Amman Chamber of Commerce, Senator Riad Saifi who emphasised the important role played by chambers of commerce in developing Jordan’s economy. The meeting was also attended by Mrs Reem Badran, Second Vice Chairman of the Amman Chamber of Commerce, Mr Bassem Farradj and Dr Afnan Al-Shuaiby. The first day of the visit ended with an evening networking and dinner graciously hosted by the Amman Chamber of Commerce.

On the second day, the delegates visited the Royal Hashemite Court and joined the UKTI and Lord Mayor’s delegation that was headed by the Lord Mayor Alderman Roger Gifford and the Rt Hon Baroness Morris of Bolton, the British Prime Minister’s Trade Envoy. A presentation was made by Mr Imad Fakhoury, Director of His Majesty’s Office at the Royal Hashemite Court of Jordan, who stressed the importance of maintaining good trade relations between the UK and Jordan.

The meeting was held in the presence of Dr Hatem Al-Halawani, Minister of Industry, Trade and Supply, HE Mr Mazen Hmoud, Jordanian Ambassador to the UK, and HE Mr Peter Millett, British Ambassador to Jordan.

Members of the British business delegation to Amman with HM King Abdullah II of the Hashemite Kingdom of Jordan (centre)

CHAMBER NEWS

Dr Loay Munir Sehwail, General Manager, JIEC, Mr Issa Haider Murad, First Vice Chairman, JCC, Dr Afnan Al-Shuaiby, Secretary General & CEO, ABCC and Mr Bassem Farradj, Secretary General, Amman Chamber of Commerce

A private audience with His Majesty the King of Jordan was attended by the Lord Mayor, Baroness Morris, HE Mr Mazen Hmoud, HE Mr Peter Millett, Dr Afnan Al-Shuaiby and and Sir Nigel Knowles, CEO of DLA Piper. HM the King addressed the British business delegation during which he called for participants to take advantage of the investment environment in his country.

He pointed out that the private sector in Jordan was a key partner in the process of development, modernisation and progress that the Kingdom has made, through its contribution to the promotion of trade and investment and the creation of new jobs.

Mr Issa Haider Murad, First Vice Chairman, Jordan Chamber of Commerce

Later a networking lunch was hosted for the delegates by the JIB at the Hayat Hotel, where more than 200 business Jordanian executives were present. Keynote speeches were delivered by the Jordanian Minister of Industry, Trade and Supply, the Lord Mayor of the City of London, and Dr Al-Shuaiby.

Delegates then made a site visit to the Jordanian branch of Shell - Jordan Oil Shale Company (JOSCO) where they were conducted on a tour of the facilities and a presentation was delivered by its General Manager and Country Chair, Mr Thomas Meijssen.

Afterwards delegates attended the Oasis 500 Business Entrepreneurial and ICT event

Members of the British business delegation

organised by Oasis500 and the UK’s Tech City.

This event was also attended by members of the ICT sector in Jordan, who were keen to discuss potential business cooperation with the British delegates.

Finally, a reception at the residence of British Ambassador, HE Mr Peter Millett was held with more than 300 people in attendance.

The ABCC trade mission received many positive comments from both the organisers and participants, and received wide coverage in the media which underlined its purpose of enhancing economic and commercial partnerships between the UK and the Kingdom of Jordan.

Mr Issa Haider Murad, First Vice Chairman, JCC and Dr Afnan Al-Shuaiby

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ECONOMICCHAMBER FOCUS SYRIA BID TO WOO INVESTORS NEWS

Dr Afnan Al-Shuaiby, ABCC Secretary General and CEO

DR AFNAN AL-SHUAIBY REAPPOINTED AS SECRETARY GENERAL & CEO OF THE ARAB BRITISH CHAMBER OF COMMERCE The Arab British Chamber of Commerce is pleased to announce that Dr Afnan AlShuaiby has been reappointed as Secretary General and Chief Executive Officer of the ABCC for a further four-year term of office.

The decision was taken by the General Union of Arab Chambers of Commerce, Industry and Agriculture in Beirut.

The reappointment of Dr Al-Shuaiby was announced by His Excellency Mr Adnan Kasser, President of the General Union of Arab Chambers of Commerce, Industry and Agriculture, during his keynote speech to the Chamber’s Annual Dinner on 9th December,

where it was warmly welcomed by all the guests present.

The reappointment was then unanimously ratified by the Executive Committee and then by the full Board of Directors of the ABCC during their meetings held on 10th December.

The reappointment of Dr Al-Shuaiby is a strong recognition of her effective leadership role of the Chamber and her success in promoting trade and investment between Britain and the Arab world.

Dr Afnan Al-Shuaiby became the first woman to hold the position of Secretary General and CEO of the ABCC when she was appointed in 2007.

ARAB CHAMBER CHAMBER OF COMMERCE NEWS

ARAB BRITISH CHAMBER OF COMMERCE www.abcc.org.uk

FOREIGN OFFICE SERVICE

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CHAMBER NEWS

LEGAL CONSULTANT & LAWYER ABCC member, Dr Mohammad Al-Hezzani Center, a Riyadh based law firm and consultant, offers the following services to businesses operating or seeking to operate in Saudi Arabia: l Legal Consultation l Preparation, drafting and checking of

contracts and agreements

l Representation in judicial proceedings

and to semi-judicial authorities

l Preparation of arbitration documents and

completion of procedures

l Assisting in the reconciliation process and

l Companies: undertaking procedures for

company establishment and authentication, registration agencies and trademarks.

l Stocks: clearance of real estate stocks

l Saudi Scientific Judicial Association.

l Inheritance: preparation of

l Certified arbitrator at the Ministry of

commandments, division and administration of inheritances.

l Insurance: cases of insurance.

Specific Areas of Expertise

judiciary, legal consultations and legal profession.

of financial transactions, such as sales, partnership, mortgage, proxy, donation, guarantee and endowments.

l Commercial documents: Different

cases of commercial documents with governmental agencies and others.

l Financial markets: Cases of financial

markets, all aspects related to capital markets and others financial governmental agencies.

l Human and financial resources: Cases

of human and financial resources in companies, with governmental agencies and others.

l Saudi Jurisprudential Association.

and stocks trading.

submission of reconciliation documents to the relevant authorities.

l Financial transactions: Different types

Dr Mohammad Rashid Al-Hezzani, the owner and director of the company, is a member of the following organisations:

l Training: Training of employees in

l Regulations: Preparation, drafting

and development of regulation projects, engineering and documentation procedures and design models.

l Banks: Legal consultations for banks.

Clients Individuals; general establishments; international companies with operations in Saudi Arabia; the private sector; international firms seeking to work in Saudi Arabia; and government agencies.

Justice.

l Certified consultant for educational

consultations.

l Certified consultant for administrative

consultations.

l Saudi laws association.

Contact Dr Mohammad Al-Hezzani Center, Legal Consultant & Lawyer Tel: +966 1 4169436 Fax: +966 1 4169437 Mobile: +966 0534503882 Riyadh PO Box 8245 Postal Code 11482 Email: DrAlhezzaniLawyer@gmail.com/ DrAlhezzani@DrAlhezzaniLawyer.com Website: www.DrAlhezzaniLawyer.com

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LONDON GATEWAY

DP WORLD’S LONDON PORT OPENS DP World’s £1.5 billion London Gateway deep-sea port formally opened on 7 November by welcoming the first ship to the facility designed to become one of Europe’s busiest container terminals.

London Gateway is the first port to open in the UK in more than two decades.

The new port, which seeks to provide British exporters and importers with a more efficient way to ship globally, at less cost, has been more than 10 years in the planning and construction phase.

DP World Chairman Sultan Ahmed bin Sulayem, Vice-Chairman Jamal Majid bin Thaniah, Group CEO Mohammed Sharaf, Chairman of MOL Liner Junichiro Ikeda, and shipper representatives JFH Hillebrand MD David Mawer and Chingford Fruit MD Gavin McNally, were among those present to welcome ‘MOL Caledon’ from South Africa.

The new port, reportedly built at a cost of £1.5 billion, is located closer to major UK population centres than other ports capable of handling 400 metre-long ships that can carry more than 18,000 containers, said DP World.

Over 30% of the containers moving through the port are planned to go by rail facilitated by the state-of-the-art terminal which can handle the longest trains in the country. DB Schenker Rail UK and Freightliner are both providing rail services to the new port.

There are plans to build a further five berths before it reaches its full operational

capacity of 3.5 million teus a year, the global container terminal operator said.

The Dubai-based company that operates more than 65 marine terminals across six continents estimated that the new port will create 27,700 jobs for London and the South East and contribute £2.4 billion to the economy.

port for many customers — reducing costs in their supply chain,” said Adrian Jones, Managing Director MOL. Simon Moore, CEO London Gateway, said it had taken many years of hard work to achieve this milestone, delivered on time and on budget.

“This is the first port to be built in the UK in a generation and so there is nothing else like this in the country,” said Sulayem.

“It’s a huge day for the team here, but we remain focused on delivering what we set out to achieve, reduced supply chain costs and more reliability for importers and exporters.”

“London Gateway’s logistics park is Europe’s largest and will save companies hundreds of millions of pounds every year from business costs by removing a whole step in UK supply chains. Goods will move through the port and straight into the logistics park, then straight to shops and homes, rather than being sent first to inland warehouses,” said Thaniah.

Gavin McNally, Chingford Fruit, commented: “We ship thousands of tonnes of fruit into the UK for some of the most demanding retailers. We are always exploring opportunities for improvements to our already high levels of efficiency and I believe that London Gateway has the potential to deliver that for us.”

The port also provides modern infrastructure for shipping lines that are building bigger ships.

An unofficial opening of the port took place on 13 September when the fire-damaged Zim Rotterdam berthed to discharge its cargo and undergo “required maintenance”.

Sharaf said bringing London Gateway to this point has been very much a partnership with all stakeholders, including customers.

“This is an historic moment for both MOL and DP World London Gateway. The arrival of our first container vessel into the port marks the birth of a facility that is likely to play a critical part in the future of seaborne trade to and from the UK. The proximity of London Gateway to London and DP World’s plans to grow an extensive logistics park around the port, mean that this will be an attractive

Norton Rose Fulbright has been advising on the development since it was first conceived almost 14 years ago. The law firm’s head of real estate, David Sinclair, said, “London Gateway has the potential to transform the UK logistics market and will bring significant commercial and environmental benefits to the local and wider communities as well as promoting more efficient UK trade.”

DP World London Gateway, 07/11/2013

CHAMBER AVIATION NEWS

MID EAST AVIATION ON GROWTH PATH Growth of Middle Eastern aviation outpaced the global average and will continue to do so, supported by a variety of growth strategies.

Fleet expansion is the predominant strategy, with Emirates as the foremost practitioner.

Aviation is a dynamic global industry that continuously adapts to various market forces, according to this year’s Current Market Outlook report issued by the Boeing company.

Key market forces that impact the airline industry are fuel prices, economic growth and development, environmental regulations, infrastructure, market liberalisation, airplane capabilities, other modes of transport, business models, and emerging markets.

Each of these forces can have both positive and negative impacts on the industry.

Fuel is now the largest component of an airline’s cost structure. This has driven manufacturers to produce more efficient airplanes, such as the 787 and the 737 MAX, while encouraging airlines to pursue cost reductions and revenue enhancements in other areas in order to maintain profitability, even with higher fuel costs.

These market forces are incorporated into the long-term forecast that Boeing produces annually. The economy, as reflected by gross domestic product (GDP), one of the main contributors to airline growth, is forecast to rise 3.2% over the next 20 years, which will drive 5.0% annual growth in passenger traffic as well as 5.0% annual growth in cargo traffic (which is also highly dependent on global trade).

Commercial aviation has weathered many downturns in the past. Yet recovery has followed quickly as the industry reliably returned to its long-term growth rate

of approximately 5% per year. Despite uncertainties, 2012 passenger traffic rose 5.3% from 2011 levels. Boeing expects this trend to continue over the next 20 years, with world passenger traffic growing 5.0% annually.

Other strategies include the purchase of equity shares in other airlines. For example, Etihad invested in airberlin and Jet Airways, in order to grow quickly and gain access to new markets without fleet expansion.

Air cargo traffic has been moderating after a high period in 2010. Air cargo contracted by 1.5% in 2012. Expansion of emerging-market economies will, however, foster a growing need for fast, efficient transport of goods.

It estimates that air cargo will grow 5.0% annually through 2032.

Liberalisation gains ground

The shape of the market The report forecasts a long-term demand for 35,280 new airplanes, valued at $4.8 trillion. It projects that 14,350 of these new airplanes (41% of the total new deliveries) will replace older, less efficient airplanes, reducing the cost of air travel and decreasing carbon emissions. The remaining 20,930 airplanes will be for fleet growth, stimulating expansion in emerging markets and innovative airline business models.

Approximately 24,670 airplanes (70% of new deliveries) will be single-aisle airplanes, reflecting growth in emerging markets such as China, and the continued expansion of low-cost carriers throughout the world.

Widebody share will also increase, from 23% of today’s fleet to 24% in 2032. The 8,590 new widebody airplanes will allow airlines to continue expansion into more international markets.

Alliances and partnerships also contribute, as with the 2012 Emirates-Qantas codeshare agreement, or Qatar Airways’ pending membership in the oneworld alliance.

Low-cost carriers tend to pursue growth through business model innovation: reducing short-haul fares, setting up national subsidiaries, and opening new avenues of access to air transport services.

Growth of aviation in the Middle East has outpaced the global average and will continue to do so, supported by a variety of growth strategies. Fleet expansion is the predominant strategy, with Emirates as the foremost practitioner.

Further support for growth could come from liberalization of industry regulations. The Kingdom of Saudi Arabia took significant steps in 2012 toward opening its markets.

Gulf Air (Bahrain) and Qatar Airways have been granted rights to operate domestic flights within the KSA. Competition will be allowed in the markets for ground services, and it is expected that Saudia will be privatised. More vigorous competition should result in better, more frequent, and lower cost services.

The opportunity to relax price controls on domestic Saudi Arabian flights remains, though it has not been adopted as a policy goal. Price deregulation could bolster industry health, enhancing service quality over the long term.

Liberalisation of the region’s bilateral agreements is having important impacts.

In the wake of Etihad’s investment in Jet Airways, the UAE and India are set to increase weekly seating entitlements from 13,300 to nearly 50,000 seats by 2015. These entitlements, which will be available to qualified airlines on both sides, will spur competition.

Infrastructure development is a long-term concern. Although the region’s airspace is not yet crowded, large sections remain under military control, limiting the airspace available for commercial traffic. The region’s air traffic control (ATC) is not centralised, leaving airlines to manage flights within a patchwork of different ATC systems.

Further, investment tends to target new runways and terminals, rather than ATC modernisation. Awareness of infrastructure challenges is growing, and ongoing discussions between the Gulf Cooperation Council countries and their neighbours signal progress.

For further details from this report see: http://www.boeing.com/boeing/ commercial/cmo/middle_east.page

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BUSINESS & PROJECT NEWS

157 BILLIONAIRES IN MIDEAST Middle East has a billionaire population of 157 with a total wealth of $354 billion, according to the inaugural Wealth-X and UBS Billionaire Census 2013.

The billionaire number is 3.3% higher than it was in 2012 when there were 152 billionaires. However, the total wealth increased 12.4% from $315 billion, it said.

Saudi Arabia accounted for 64 billionaires with a net worth of $204 billion, while the UAE came in second with 37 billionaires worth $45 billlion.

Kuwait has 17 ($34 billion); Qatar 9 ($20 billion); Lebanon 8 ($14 billion); Bahrain 1 ($2 billion) and Yemen 1 ($1 billion).

Trade Arabia, 06/11/2013

MENA ONLINE SPENDING TO HIT $15BN BY 2015 Online shopping is a rapidly growing consumer trend in the Middle East and North Africa and the region now stands poised to be the next e-Commerce hotspot, according to a report.

The report by PayPal revealed that spending online in the region will grow from $9 billion in 2012 to $15bn by 2015.

According to PayPal, about 80% of online purchases in the Middle East are made with cash on delivery while credit and debit cards make up 15%.

The digital realm with its convenience of access, abundance of attractive offers and truly staggering range of options is being willingly embraced by the region’s tech-savvy consumers, stated the report.

Times of Oman, 01/12/2013

BAHRAIN-QATAR CAUSEWAY REDESIGN AGREED A consultancy firm has been commissioned to review the basic engineering designs of the planned BahrainQatar causeway.

The Bahrain-Qatar Causeway Authority board held a recent meeting and decided to redesign the 40km strategic artery, thought to be the world’s longest man-made bridge, reported the Gulf Daily News.

In a statement, the authority’s vice-chairman and Finance Ministry Under-Secretary Aref Saleh Khamis said that the redesigned blueprints would be ready when work on the project begins.

EGYPT TO BUILD NEW GRAIN SILOS Egypt aims to expand its grain storage capacity to 4.5 million tonnes from 3 million by building new silos, Supplies Minister Mohamed Abu Shadi was quoted by the state news agency as saying.

Egypt, the world’s biggest wheat importer, usually consumes around 18 million tonnes of wheat overall and buys about 10 million a year from international markets.

The country uses a mixture of domestic and imported wheat for its subsidised bread programme, which feeds millions of people.

Abu Shadi said a national programme to expand storage capacity had already built 24 new silos. Construction of a further 26 had started, he added in a meeting with members of the bakers’ syndicate.

A further 50 silos would be built with assistance from the UAE, the minister said, double the number announced in October as part of a UAE aid package.

Trade Arabia, 13/11/2013

The session discussed administrative and organisational issues relating to the 2013 fiscal year.

The Bahrain-Qatar Causeway Authority’s executive management has also been asked to draw up a report on progress of work on the project and the multi-phased work plan.

The causeway, normally referred to as the Qatar Bahrain Friendship Bridge, was approved in 2005. A formal agreement was signed in June 2006 to form an organisation that would raise the $4.5 billion in estimated funds needed to implement the project.

The causeway is expected to be used by 4,000 cars daily on its first year and up to 5,000 cars within the following year.

The project has undergone changes since its conception including plans for two new railway tracks next to the bridge.

Sources: Gulf Daily News, 01/11/2013; Arabian Industry, 30/10/2013

EGYPT TO FINALISE TENDER TO DEVELOP SUEZ Egypt will finalise a tender for the development of the Suez Canal by the end of the month, the investment minister said.

“No country is taking the lead, it is an Egyptian project and we are going to finalise the first stage by finalising this tender by the end of this month,” Osama Saleh told a Euromoney conference in Cairo, adding the terms of reference will be tendered globally.

Egypt’s economy benefits from about $5 billion a year in tolls for using the vital 192km (120 mile) waterway, the quickest sea route between Asia and Europe.

Reuters, 11/11/2013

BUSINESS & PROJECT NEWS

PM UNVEILS PLANS FOR NEW ISLAMIC INDEX ON LONDON STOCK EXCHANGE The London Stock Exchange is creating a new way of identifying Islamic finance opportunities by launching a world-leading Islamic Market Index.

The Prime Minister unveiled groundbreaking plans for a new Islamic index on the LSE at the opening of the World Islamic Economic Forum.

Global Islamic investments have soared by 150% since 2006 and are expected to be worth £1.3 trillion next year.

In a speech to the forum, the Prime Minister announced that: •the government would like the UK to become the first country outside of the Islamic world to issue an Islamic bond; the Treasury is working on the practicalities of issuing a bond-like Sukuk worth around £200 million, which we hope to launch as early as next year •London Stock Exchange is creating a new way of identifying Islamic finance opportunities by launching a world-leading Islamic Market Index; strengthening FTSE’s leading position as a developer of innovative, alternatively-weighted indices, this index will be another global first for the City of London

•the UK government is partnering with the Shell Foundation to create a new £4.5 million grant to boost the work of the Nomou initiative - a growth fund that provides skills and finance to small businesses across the Middle East and the Gulf, which will provide opportunities for British companies in the longer-term.

Describing the new Islamic bond, the PM said: “This government wants Britain to become the first Western sovereign to issue an Islamic bond. So the Treasury is working on the practicalities of issuing a bond-like Sukuk worth around £200 million and we very much welcome the involvement of industry in developing this initiative which we hope to launch as early as next year.”

He also announced the Islamic Market Index: “The growth of Islamic finance means that there is an increasing demand for new ways of identifying Islamic compliant business activities. Again the City of London is leading the way – this time not just in Europe, but right across the world. Today the LSE is announcing the creation of new indices.

These not only identify companies that meet traditional Islamic investment principles but also use the most advanced techniques on the planet to screen financial ratios and

INVESTMENT IN MOROCCO POULTRY INDUSTRY Zalagh Holding, a leading grain trading and poultry group in Morocco, is to receive equity investment from the IFC to help create jobs and encourage economic development in rural part of the country.

The $24 million investment in the company will support its expansion and create new jobs, including those for women. This expansion will also help generate indirect employment in rural areas, where Zalagh is a key economic player.

“This agreement will support our strategy to become a major player in a rapidly expanding sector and strengthen our integrated value chain,” said Ali Berbich, Chairman of the Management Board of Zalagh Holding.

enable investors to identify opportunities with lower volatility. In plain language, this means the creation of a new way of identifying Islamic finance opportunities - a worldleading Islamic Market Index. It is another global first for the City of London.”

The holding of the World Islamic Economic Forum in London underlined how the UK has become the leading Western hub for Islamic finance.

Prime Minister’s Office, 29/10/2013 Further details https://www.gov.uk/government/news/ pm-to-unveil-plans-for-new-islamicindex-on-london-stock-exchange?utm_ source=rss&utm_medium=rss&utm_ campaign=press-release-pm-to-unveilplans-for-new-islamic-index-on-londonstock-exchange

This investment is part of the IFC strategy in Morocco to support manufacturing and agribusiness.

The project will also support the growth of the poultry industry and promote the use of top-notch environmental and health standards.

Zalagh Holding is embarking on an ambitious 350 million Moroccan dirham expansion over the next three years and plans to ramp up production of animal feed, increase its supply of chickens and turkeys, and build new poultry farms across the country.

IFC, 12/11/2013

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BUSINESS & PROJECT NEWS

QATAR UNVEILS STUNNING NEW DESIGN FOR WAKRAH STADIUM The Qatar 2022 Supreme Committee has unveiled the stunning new-concept design for the Al Wakrah Stadium which encompasses various aspects of Qatari tradition and culture.

Inspired by the dhow boat and Al Wakrah’s fishing and seafaring heritage, the design has been developed by AECOM in association with UK-based Zaha Hadid Architects under the guidance of the Qatar 2022 Supreme Committee.

“The unveiling constitutes the first in an upcoming series of progress-related events and initiatives as we enter the early phase of delivering the promises we made to FIFA and the international football community during the bid,” said Qatar 2022 Supreme Committee Secretary-General Hassan alThawadi, adding that the design reflects what Qatar stands for from a cultural perspective.

“It is modern, futuristic and functional.

But importantly, it remains true to Qatari heritage with the design and materials inspired by the traditional dhow boat.”

In the presence of representatives of Al Wakrah community, Jim Hevern, director of Zaha Hadid Architects, said the stadium precinct would have a multi-purpose indoor arena with two indoor halls, a hospitality vocational training centre, and an international school for 1,000 pupils incorporating a 400m running track in addition to other facilities.

It will have a gross capacity of 40,000 with the modular top tiers allowing the capacity to be lowered to 20,000, which al-Thawadi mentioned will be sufficient for community’s use post-World Cup. The modular tiers could be shipped to countries in the developing world.

Al-Thawadi added: “We are at an advanced stage in our planning. Al Wakrah is the first of six stadiums already in the latter stages of the design process. Our committee has

issued ten major tenders to the market encompassing project and design managers and stadium-operation consultants.”

Located about 15km south of Doha, Al Wakrah has served as a vital commercial port and a gateway to the capital throughout Qatar’s history.

Early work on the stadium site will begin in January, with the tender for the main contractor issued in the second quarter.

Stadium construction will begin in the fourth quarter.

Zaha Hadid commented: ‘We are excited to be working on Al Wakrah Stadium. The design expresses its context, establishing a relationship with the city and its surrounding landscape.”

Gulf Times, 17/11/2013

S&P DOW JONES UPGRADING QATAR TO EMERGING MARKET STATUS International Index Compiler S&P Dow Jones Indices announced its decision to reclassify Qatar as an Emerging Market, from the existing Frontier.

Qatar meets enough quantitative criteria for qualification and the new status will come in to effect in September 2014, the Index Compiler said.

“The foreign ownership limit, while still viewed as below the standards of most other emerging markets, has become a point of emphasis for change in Qatar as several large companies have increased their limits to encourage further foreign investment. Continued dedication to

increase the limits is an expectation from most market participation”, S&P Dow Jones said.

Market participation in Qatar is viewed as robust and ease of entry into the market is in line with the standards set by other emerging markets, the index compiler also noted.

The Global Index compiler MSCI has already announced its decision to upgrade Qatar to “emerging market” status after

several years of efforts by the exchange to win the confidence of global investors.

Qatar’s upgrade by the MSCI is expected to take effect around May 31, 2014.

Inclusion of Qatar in the MSCI Emerging markets index would aid in inflow of institutional money into the country’s capital market, Kuwait Financial Centre, Markaz, noted in its latest report on “GCC Outlook for the second half of 2013”.

The Peninsula, 01/11/2013

BUSINESS & PROJECT NEWS

UK COMPANIES SET TO BOOST TRADE WITH BAHRAIN Scores of leading British businesses are looking to boost trade with Bahrain.

The companies will arrive in Manama to showcase their products and help build on the positive bilateral trade ties.

They will take part in the Great British Week to mark the long standing relationship between Bahrain and the UK, which will be held between 15 and 22 January 2014.

“This is the first celebration of British business and innovation in Bahrain in a generation and we are very excited at the prospect of putting on and supporting a whole range of events that showcase the wide-ranging, longstanding and close relationship between our two countries,” said British Ambassador Iain Lindsay at the launch of the event at the British Embassy.

The event is being held under the patronage of His Majesty King Hamad and will take place in conjunction with the third Bahrain International Air Show.

It is being jointly organised by the embassy, the Bahrain British Business Forum (BBBF) and the British Council.

It will also feature a “knowledge” conference supported by UK-based Brunel University and Ahlia University, a conference about advanced engineering and a celebration dinner which will showcase British fashion and cooking.

Gulf Daily News, 07/11/2013

ROLLS-ROYCE TO HELP ABU DHABI BECOME KEY AEROSPACE HUB Rolls-Royce confirmed at the Dubai Air Show that it has entered into a Strategic Framework Agreement with Mubadala Aerospace, Communications Technology and Defence Services (ACTDS) to establish the Emirate of Abu Dhabi as a key member of Rolls-Royce’s global network for maintenance and manufacturing activities.

As part of the agreement, Rolls-Royce is supporting Mubadala to become established as an approved Trent XWB engine maintenance, repair and overhaul (MRO) provider within its global Engine MRO network and the first such facility in the Middle East region. The region is earmarked to have one of the highest concentrations of Trent XWB engines in the world in the coming decade.

research centre in the region to support Mubadala’s goal to become a Tier 1 aerospace industry supplier.

Rolls-Royce also plans to source engine components valued at up to US$500 million over a ten year period from Mubadala once it has a manufacturing capability.

Emirates News Agency, WAM, 20/11/2013

In addition, Rolls-Royce has committed to helping establish, and become a founding member of, the first advanced manufacturing

UAE TO INVEST IN HUMAN CAPITAL, INFRASTRUCTURES His Highness Shaikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, has underlined the human factor as the foundation of development in the UAE. He pledged that the country will continue to invest in human resources, as well as update its legal and regulatory frameworks, and further strengthen infrastructure, pursuing new levels of development.

“Our country has shown utmost flexibility in coping with surrounding variables.

Due to its precise goal-bound economic strategies and solid policies, the UAE

achieved outstanding progress on global economic indices,” Shaikh Mohammed said in his foreword to the new The Business Year: Dubai 2013 edition produced by Dubai FDI, the Foreign Direct Investment office in the Department of Economic Development (DED), in partnership with international business consultancy The Business Year (TBY).

Reiterating that ongoing investment in human capital enables the UAE to achieve its goal of being number one across all global indices, Shaikh Mohammed said that the country has also pursued diversification of the national economy

since its early stages, focusing on improvement of all economic sectors and monitoring global trends to identify opportunities.

The Business Year: Dubai 2013 will be the most comprehensive English language review of the economy of Dubai available. The report encapsulates the latest developments and initiatives driving economic diversification and growth in Dubai and the opportunities for businesses and investors.

WAM, 13/11/2013

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SAUDI ARABIA

UK-SAUDI COOPERATION IN THE FINANCIAL SECTOR Financial services represent one of the most enduring links in UK-Saudi relations and there is every prospect that these links can become even stronger as the Kingdom opens up the sector to more international participation.

UK banks have been involved in Saudi Arabia for more than 50 years and work closely with the largest corporate clients, including Saudi Aramco, Saudi Arabian Mining Company (Ma’aden) and Saudi Basic Industries Corporation (SABIC).

small percentage of the country’s total wealth. The bank traditionally had a very conservative policy that has focused on US Treasury Bonds. Recent developments, however, suggest it is adopting a bolder approach to future investment.

This particularly applies to the UK’s Private Finance Initiative (PFI) programme, which involves government retaining risk responsibility and the private sector providing design and finance for projects and then building and operating them.

Many major private family businesses, such as Saudi Binladin Group and Olayan, also maintain offices in London for servicing their financial needs.

At the end of 2012, Saudi Finance Minister, HE Dr Ibrahim Al-Assaf said that the Supreme Economic Council was studying a proposal to set up a sovereign wealth fund to channel part of the Kingdom’s surpluses into long term investment projects.

As well as helping in the formation of public private partnerships (PPP), Britain’s financial institutions also have the chance to build on the firm foundations that the UK has built in the field of Islamic finance.

Several British banks have a longstanding presence within the Kingdom. Saudi British Bank (SABB), 40% owned by HSBC, supplies a range of personal and commercial banking, institutional and Islamic banking products and services across the country, through its network of more than 80 full service branches.

Royal Bank of Scotland has a minority shareholding in Saudi Hollandi Bank, while Barclays obtained a licence in 2008 and provides investment banking and asset management services.

Prudential Asset Management received approval in 2008 to launch a joint venture with Bank AlJazira to advise and provide fund management in the Saudi market. This joint venture is also cooperating in providing Islamic insurance services (Takaful).

It is not just a one-way process. Jeddahbased Sidra Capital, for example, has a partnership with UK-based Gatehouse Bank, which specialises in real estate acquisitions and the Sterling United Kingdom Real Estate Fund has been set up by the joint venture.

UK Government ministers have expressed their hopes that Saudi investment finance will back major British investment projects, including power generation projects and high speed rail networks, the type of investments that provide secure and strong long term returns.

The Kingdom’s financial resources are enormous. Saudi Arabian Monetary Agency, the central bank, has $533 billion of assets but this figure is of course only a relatively

The Public Investment Fund (PIF), part of the Ministry of Finance, has a $5.3 billion fund to invest, although only in Saudi-based projects. Sanabil was launched in 2009 as a wholly-owned entity of the PIF, to act as an investment portfolio manager.

According to Sanabil’s, Ibrahim bin Mohammed Alromah, there are also plans to invest abroad in private equity funds and securities.

Further liberalisation of the Saudi Stock Exchange, the Tadawul, could be part of greater involvement with other stock markets. International banks will benefit from the further opening up of the Saudi stock market to foreign participation.

This could allow banks, especially foreign banks active in the domestic market, to sell Saudi equities to clients in Europe and North America, allowing more sophisticated investment banking activities to develop.

Broadening the structure of investment in the Kingdom is a key Government strategy and the huge and steadily growing infrastructure programme increasingly involves the private sector in major new developments.

High quality financial expertise is necessary to arrange such investments. There is an opportunity for trusted British institutions to play a leading role in the development of Saudi infrastructure, healthcare, energy projects, social housing, urban regeneration, as well as education and training.

Over the past decade, the City of London has become the leading Western centre for Islamic finance, with more banks and financial institutions offering Shariacompliant financial products than any other Western jurisdiction.

The Government has made efforts to ensure London maintains its role as a global gateway for international Islamic finance.

This includes enacting legislation to ensure that there is no difference to the taxation as applied to Islamic or conventional financial products.

This support has led to a rapid development of corporate Sukuk (bond) finance, with more than 30 of these Islamic debt instruments listed on the London Stock Exchange and having a total value of $19 billion.

Saudi Arabia’s Islamic banking is expanding rapidly. There are 18 Islamic financial institutions registered in the Kingdom, with $138.2 billion of Sharia-compliant assets, making the market one of the world’s largest centres.

Connections between Saudi Arabia and the City of London have the potential to strengthen as Sukuk becomes more prominent in larger debt issues.

One of the largest of these made, on behalf of the Kingdom’s civil aviation authority, was valued at $4 billion in 2012.

SAUDI ARABIA

Insurance is also an area of huge potential and of particular relevance to UK firms. The Kingdom is one of the most under-insured parts of the region.

broking and consultancy services. Operating from offices in Riyadh, Jeddah and Al Khobar these include AON, Jardine Lloyd Thomson (JLT), Willis and Marsh.

The sector has expanded as a result of the introduction of compulsory health and car insurance. However, the Saudi market for insurance is still smaller than that of Dubai, which is five times smaller than the Kingdom in terms of population.

In 2012, British insurance services provider, Charles Taylor acquired a 60% share in Riyadh-based Noble Inspection and Loss Adjustment.

A substantial proportion of Saudi nationals has yet to be introduced to the benefits of insurance services and in a deeply traditional society, there is still misunderstanding about the nature of the concept.

Until the early 1990s, insurance was widely regarded as contrary to Islamic principles.

Since 2003, however, this has begun to change following the introduction of a comprehensive set of regulations developed

by Saudi Arabian Monetary Agency (SAMA).

In the last few years demand for insurance has begun to grow outside the mandatory health and motor policy areas. HE Dr Ibrahim Al-Assaf has said that Saudi insurance is set for dramatic growth.

This company is involved in the Kingdom’s fast expanding utilities, engineering and power sectors.

JLT’s London office has also worked with Marsh to develop an insurance plan for the Riyadh-based Arabsat organisation’s multisatellite launch programme.

Beyond commercial lines, the biggest surge could arise from development of life and home insurance policies, which currently have less than a 1% market penetration. An increase in Sharia-compliant products is expected to drive the industry forward.

In all these areas, UK firms have the expertise to play a part in strengthening and supporting the development of a potential high-growth sector.

Since SAMA became the regulator of the sector, foreign brokers and third party administrators (TPAs), which are contracted by insurance companies to manage claims, contracts and other policy details have been permitted to enter the market.

UK companies also have well established credentials to assist Saudi Arabia to develop its housing market and analysts believe that a $32 billion a year mortgage market could develop in the Kingdom over the next ten years.

These TPAs have helped to strengthen the insurance value chain, in line with more established markets.

In 2012 and following years of delay, the first ever law covering mortgages was approved and is expected to lead to many more home loans being arranged. This in turn is likely to stimulate the market for fire risk and life insurance, since lenders would normally make such cover a condition for granting loans.

Many major UK brokerage firms have joint ventures in the Kingdom, providing risk management, insurance and re-insurance,

Saudi Arabia needs to build 1.25 million new homes according to current development plans. In 2011, the Government announced funding arrangements for the construction of 500,000 homes to tackle a shortage of accommodation.

At present less than 4% of home purchases in the Kingdom are financed through mortgages, compared with 17% in the United Arab Emirates and more than 70% in the UK. The financial sector alone in Saudi Arabia will not be able to fill the gap and some believe that the Government will have to allow non-banking financial institutions, such as mortgage companies, to come in to develop the market.

Saudi Arabia’s banking and financial development is unprecedented in its scope and aspires to be on a par with the most sophisticated of international centres. The country’s underlying monetary strength and vast ambition is exemplified in the development of Riyadh’s new $10 billion King Abdullah Financial District on a 1.6 million square metre site in the capital.

When completed, the area’s 40 tower developments will provide three million square metres of floor space in a modern working environment, able to accommodate a world scale financial services industry.

The Kingdom’s vast wealth will be one of the drivers in achieving this goal but the expertise and partnerships that London can provide will also be a key to fulfilling this ambition.

Saudi Arabia - Discovering Business, 20132014, Allurentis in association with UKTI and the Committee for International Trade.

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LAW

IDNS AND A NEW PARALLEL INTERNET UNIVERSE

BY ROB DEANS AND HARRIET BALLOCH, CLYDE & CO

The expansion of the existing infrastructure of the internet has been a long time coming but now appears to be only a matter of weeks away.

There are currently only 22 generic top level domains (gTLDs) (such as .com and .net), but this is all about to change with the imminent launch of over 1,000 new gTLDs. According to the latest information available it appears that the first new gTLDs will be available to register in November 2013, with the initial batch to be released comprising non-Latin script domain names (known as internationalised domain names (IDNs)).

Parallel internet universes The launch of IDNs has the potential to shake up the way the internet is navigated by making it much more accessible to users who are literate in Arabic, Chinese, Japanese, Cyrillic and other languages which do not use Latin characters. With over 200 million native Arabic speakers and over 800 million native Chinese speakers, the impact

on businesses that wish to communicate with a global audience will be very significant indeed.

Many businesses already communicate with their customers through websites that allow for multiple languages. However, these websites operate within the traditional, Latinscript internet, with a typical website address for a brand being “www.brand.com�.

LAW

The introduction of IDNs allows businesses to use non-Latin script website addresses so that they can operate within an environment which is fully in line with their customers’ languages.

As a result, we can expect the introduction of IDNs to lead to the creation of new parallel internet universes, with businesses setting up and operating websites not only in Latin script (such as http://www.brand.com), but also in non-Latin scripts. Although the content of individual websites may not change much, if at all, the user experience will be fundamentally different as these

new internet universes are navigated by users entirely in their own (non-Latin script) languages.

Opportunities and dangers While the expansion of the internet provides brand owners with significant opportunities, concerns have also been raised as to the ability of brand owners to protect their trademarks online. The new wave of gTLDs will inevitably lead to an increase in abusive domain name registrations, including in

non-Latin scripts with cybersquatters, typosquatters and others mis-using brands through translations and transliterations in Arabic, Chinese and other non-Latin languages.

Protection for brand owners In response to these concerns, ICANN (the body responsible for the management of domain names) has established the Trademark Clearinghouse.

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ECONOMICLAW FOCUS SYRIA BID TO WOO INVESTORS

The Clearinghouse comprises a database of global rights that provides participating brand owners with two rights following the launch of each new gTLDs: l Pre-registration: The Clearinghouse

provides brand owners with a priority window of 30 days in which to register domain names that match trademarks that they have recorded with the Clearinghouse, before the registration process is opened up to the public (ie, a ‘sunrise’ period).

l Notice of infringing domain names:

The Clearinghouse will inform brand owners of applications by third parties to register domain names that match the trademarks that they have recorded with the Clearinghouse, for the first 90 days following the launch of each new gTLD to the public.

Only trademarks that have been recorded with the Clearinghouse will benefit from this protection. Importantly, recording a Latin script trademark with the Clearinghouse will not entitle brand owners (i) to pre-register domain names for that trademark in other languages, or (ii) to receive notifications of third parties seeking to register domain names which incorporate translations or transliterations of that trademark. Translations and transliterations of Latin script trademarks are not automatically protected and need to be recorded with the Clearinghouse separately.

l Only required to report third party

applications for domain names which are an identical match to the trademarks recorded in the Clearinghouse and only for a limited period of 90 days from the launch of the relevant gTLD to the public.

l Not required to prevent third

parties from registering domain names that match trademarks recorded with the Clearinghouse, but are simply obliged to notify the relevant brand owner of the application so that it can decide what action to take.

Despite these apparent limitations, the Clearinghouse is the only mechanism in place which will provide brand owners with control over their rights during the launch of the new gTLDs. Failure to record trademarks with the Clearinghouse means that brand owners will: l Have to wait until the general release

of each new gTLD before they can register domain names which incorporate their trademarks (ie, on a first-come-first- served basis).

l Not be notified of any third party

applications for conflicting domain names.

What steps should brand owners take?

Criteria to register trademark with the Clearinghouse

Brand owners should take immediate steps to record their key trademarks with the Clearinghouse to ensure that they are best placed to protect their marks before the launch of the new gTLDs.

Brand owners only need to record each trademark (translation and transliteration) with the Clearinghouse once to benefit from these brand protection mechanisms for all new gTLDs, although an annual fee is payable for each trademark recorded with the Clearinghouse.

Given the imminent launch of IDNs (which is being prioritised over other gTLDs), brand owners should ensure that translations and transliterations of their key trademarks are recorded with the Clearinghouse.

This will enable brand owners to register Arabic and other non-Latin script language domain names for their key marks before the registration process is opened up to the public. It will also ensure that brand owners receive notifications when third parties seek to mis-use their trademarks in other languages by registering domain names which incorporate translations or transliterations of their trademarks.

The Clearinghouse is accepting applications to record trademarks which are: l registered at a national level; l protected by statute or treaty (such as

geographic indications); and l validated by a national court or judicial

proceeding (such as well-known and unregistered (common law) marks).

While the Clearinghouse appears to be a quick and cost effective way for brand owners to maintain control over their marks, it is not without limitations. Operators of gTLDs are:

Only brand owners that have proactively recorded trademarks with the Clearinghouse will (i) be entitled to pre-register domain names, and (ii) receive notification of conflicting applications by third parties that match those trademarks.

Reports suggest that it is currently taking the Clearinghouse around 20 days to process applications to record trademarks. Brand owners should therefore apply to record

their trademarks early to ensure they are protected before the first batch of the new gTLDs is launched.

For those brand owners that have not already adopted and registered non-Latin script versions of their domain names and who are unable to record these marks with the Clearinghouse before the launch of IDNs, this does not mean that no protection is available.

It is still possible for brand owners to select an appropriate translation or transliteration of their key trademarks, to seek to obtain protection through trademark registrations and to implement a watch service to monitor for infringements.

However, it is important that brand owners act sooner rather than later to ensure that they have protection in place before the new gTLDs are launched. Where possible, this should include the recording of trademarks (including translations or transliterations) with the Clearinghouse, and it should also include other protection in the form of trademark applications/registrations and a watch service which covers key brands (including translations and transliterations).

If you would like further information on any issue raised in this article please contact Rob Deans or Harriet Balloch at Clyde & Co: rob.deans@clydeco.ae harriet.balloch@clydeco.com

WIPO Copyright TreatyAccession

by Algeria The Director General of the World Intellectual Property Organization (WIPO) presents his compliments to the Minister for Foreign Affairs and has the honour to notify the deposit by the Government of the People's Democratic Republic of Algeria, on October 31, 2013, of its instrument of accession to the WIPO Copyright Treaty, adopted at Geneva on December 20, 1996. The said Treaty will enter into force, with respect to the People's Democratic Republic of Algeria, on January 31, 2014.

WIPO, 31/10/2013

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MOROCCO

MOROCCO RENEWS FOCUS ON EXPORT GROWTH Efforts by the Moroccan government to encourage export growth have become more important than ever amid predictions of challenging times ahead for emerging markets with large current account deficits.

If successful, the kingdom’s “Maroc Export Plus” strategy, which aims to triple exports to Dh327bn (€29.32bn) by 2018, will reduce dependence on foreign capital inflows and diversify its export base.

According to a recent report by Morgan Stanley, Morocco’s current account deficit thus far in 2013 is the third-highest in the world in percentage terms, at 7% of GDP, behind only Lebanon and Ukraine.

The two countries are also studying the creation of a direct shipping link that would link the ports of Tanger-Med, Radès and Jeddah. The total volume of trade between Saudi Arabia and Morocco was around €3.3bn in 2012, although a large portion of this is comprised of Saudi Arabian oil exports to Morocco.

Recent results

The expected tapering of quantitative easing in the US will reduce the availability of dollars for foreign investment, leaving Morocco vulnerable to decreased capital inflows. Sustained growth in the export sectors, especially outside the phosphate and agricultural categories, would narrow the current account deficit and put Morocco’s economy in a stronger position.

According to the latest figures from the Office of Exchanges, exports of goods declined by 1% in the first seven months of the year, compared to the same period in 2012, to Dh108.1bn (€9.69bn). However, this modest decline was largely due to an 18.6% drop in the value of phosphate sales, the leading export product by value, due to lower global demand. Excluding phosphate, total exports of goods grew by 5.2%.

Export initiatives The state has rolled out several initiatives in support of Maroc Export Plus, including the “Exports Growth Contracts” (Contrats de Croissance à l’Export, CCE) programme. CCE offers direct financial support to companies selling goods overseas – up to Dh5m (€450,000) for experienced exporters and Dh2m (€180,000) for start-ups.

The details contained in the recent figures showed several bright spots. Aeronautic exports grew 28.7% through July 2013 compared to the first seven months of 2012, from Dh3.6bn (€320m) to Dh4.6bn (€410m).

Although aeronautics make up just over 4% of exports, the sector has high potential in helping the country diversify from commodity exports towards advanced and high addedvalue production.

Firms that wish to participate must submit a business plan that identifies a new export product or target market. The government plans to invest Dh1bn (€90m) in up to 375 exporters over three years, with 25 applicants having signed up for the programme as of early August.

Moreover, a strong aeronautical export sector is likely to have positive spillover effects in building skills and technical capacity. Morocco is aiming to double the size of the sector by 2020, a goal that appears feasible given expected strong global demand for new aircraft over the next 20 years.

The kingdom has also been working to strengthen ties on a bilateral basis outside its traditional European partners, where demand growth has been slight in recent years. The ongoing Saudi-Moroccan Joint Commission for Bilateral Cooperation has formed a Dh800m (€71.73m) investment fund to boost trade opportunities.

Automobile exports also performed well in the first seven months of 2013, with overall growth of 16.6%, from Dh14.7bn (€1.2bn) to Dh17.1bn (€1.53bn) in the same period last year. Most of the growth was in automobile construction, where exports grew by 59%, from Dh3.8bn (€340m) to Dh6bn (€540m).

Automobile wiring grew a more modest 1.9%, from Dh9.1bn (€820m) to Dh9.3bn (€830m).

Diversification of export base The growth of historically smaller export sectors and the decline in the value of phosphate exports has translated into a moderately more diverse export base. In addition to the double-digit growth in the aeronautics and automobile sectors through July, pharmaceuticals exports grew by 8.6% (from Dh486m [€43.57m] to Dh528m [€47.34m]), and electronics by 9.4% (Dh4.2m [€380,000] to Dh4.6m [€410,000]).

The second-largest export category, agriculture and food, grew by 7.7% (from Dh1.9bn [€170m] to Dh2.07bn [€190m]).

As a result, phosphate’s share of total exports has declined to 21.4% through July, from 26.1% the previous year. Automobile exports now account for 15.9% of exports, an increased share of 2.4 percentage points, and aeronautics has grown from 3.3% to 4.3%.

Nonetheless, Morocco remains overly dependent on commodity exports, including phosphates and agricultural products, which make up more than 40% of overseas sales. This leaves the economy vulnerable to fluctuations in global demand and commodity prices.

Sustained efforts to diversify the export base will remain important in the near-term, and the government can be expected to continue to focus on automobiles and aeronautics as particularly promising areas for high-value growth.

OBG, 24/09/2013

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‫‪ARABIC SECTION‬‬

‫خاتمة‪:‬‬ ‫تشير العديد من التقارير بأن ارتفاع أسعار العقارات والمساكن خاصة في مدينة لندن جعلها تتحول وبخطى متسارعة إلى "منتجع لألثرياء"‪ ،‬حيث‬

‫لم يعد يقصد شراء العقارات فيها سوى أثرياء العالم وأصحاب رؤوس األموال وكبار رجال األعمال‪ .‬ويرى كثير من المراقبين أن هذه‬ ‫األوضاع تؤثر سلبا ً على الحركة االقتصادية في المدينة وال تخدمها‪ ،‬حيث ترتفع األسعار وتغيب األيدي العاملة الرخيصة التي تهرب‬ ‫شيئا ً فشيئاً الى مدن أخرى‪ ،‬ما يمثل تحدياً كبيراً ألصحاب األعمال في العاصمة البريطانية‪ .‬يشار الى أن أعداداً كبيرة من أثرياء العرب‬ ‫ورجال األعمال غادروا الدول غير المستقرة في منطقة الشرق األوسط‪ ،‬وخاصة ما يسمى بدول "الربيع العربي" التي تعاني منذ العام‬ ‫‪ 0255‬من حالة عدم استقرار‪ ،‬وانتقلوا للعيش الى لندن‪ ،‬كما سحب كثيرون منهم أموالهم وهربوا بها الى بريطانيا‪.‬‬ ‫وعلى الرغم من األزمة االقتصادية التي م ّر بها العالم خالل األعوام الماضية والتي عصفت بالقارة األوروبية أيضا‪ ،‬فإن أسعار‬ ‫العقارات والمساكن في لندن واصلت ارتفاعها طوال هذه السنوات‪ .‬فقد واصلت أسعار المساكن ارتفاعها في العاصمة البريطانية وإلى‬ ‫مستويات كبيرة سواء على صعيد البيع أو اإليجار‪ .‬وتشير التقارير الحديثة عن الموضوع ذاته‪ ،‬بأن تدفق ماليين المهاجرين من دول‬ ‫االتحاد األوروبي في السنوات األخيرة‪ ،‬وكذلك األثرياء من دول الربيع العربي‪ ،‬كان سبباً في ارتفاع األسعار أو على األقل إبقائها‬ ‫مرتفعة‪ ،‬حيث يأتي األثرياء الى هذه المدينة بحثا ً عن حياة أكثر أمنا ً واستقراراً‪ ،‬وبحثاً عن فرص استثمارية‪.‬‬ ‫وقالت الكاتبة البريطانية ايما دونكان في مقال لها نشر في صحيفة "التايمز" البريطانية بأن عقارات لندن أصبحت فارغة بانتظار‬ ‫أثرياء العالم‪ ،‬مشيرة إلى أن أسعار العقارات والمساكن في بريطانيا كانت تسجل ارتفاعاً متواصالً خالل األزمة المالية التي ضربت‬ ‫العالم منذ خمس سنوات‪ ،‬بينما كان سوق العقارات في العديد من دول العالم ينهار أو يسجل انخفاضاً‪ .‬وتشير دونكان إلى أن متوسط‬ ‫االرتفاع الذي سجلته أسعار العقارات في لندن خالل السنوات األربع الماضية بلغ ‪ ،%58‬إال أن منطقة ويستمنستر في وسط لندن‬ ‫سجلت وحدها ارتفاعا ً في األسعار بلغت نسبته ‪ ،%01‬بينما سجلت منطقة "تشيلسي" ارتفاعا ً نسبته ‪ %06‬خالل الفترة ذاتها‪.‬‬ ‫وتضيف دونكان بأن الطلب األجنبي على عقارات لندن هو الذي تسبب بارتفاعها‪ ،‬حيث إن أكثر من نصف العقارات التي بيعت في وسط‬ ‫لندن العام الماضي كان المشترون لها من األجانب غير البريطانيين‪ ،‬وهو ما يعني في النهاية أن لندن تحولت الى مدينة ألثرياء العالم‪،‬‬ ‫وأصبحت المدينة شيئا ً فشيئاً‪ ،‬مدينة "ال مكان للبريطانيين فيها"‪ .‬ويستحوذ األجانب على ‪ %12‬من مشتريات المساكن الفاخرة في‬ ‫مدينة لندن والتي تتجاوز قيمتها الـ ‪ ٢‬مليون جنيه إسترليني‪ ،‬بينما يستحوذ األجانب على ما نسبته ‪ %82‬من مساكن لندن المسعرة‬ ‫بأكثر من ‪٠١‬ماليين جنيه إسترليني‪.‬‬

‫‪26‬‬

‫‪27‬‬

‫ ‬

‫ ‪ARABIC SECTION‬‬

‫ومن المستبعد أن تتحسن سوق اإليجارات قريبا‪ ،‬إال أن هنالك‬ ‫بارقة من األمل‪ ،‬فوفقا ً للبحث الذي أجرته مؤسسة (نايت فرانك)‬ ‫فإن إقبال المستأجرين المحتملين على العقارات اليزال كبيراً‪.‬‬ ‫وهنالك توقعات بأن ينمو سوق اإليجار نمواً متواضعا ً‪ .‬ويقول‬ ‫خبراء عقارات بهذا الصدد بأن توقعاتهم على المدى البعيد لما‬ ‫بعد العام ‪ 0251‬تشير إلى نمو حركة اإليجارات بنسبة‬ ‫‪%1‬سنوياً‪ ،‬وهذا ما يعادل معدل نمو اإليرادات على المدى البعيد‪.‬‬ ‫وفيما يبقى سوق اإليجارات ضعيفاً‪ ،‬تستمر عوائد عقارات لندن‬ ‫المرموقة من إيجاراتها محافظة على مستوياتها العالية وللعام‬ ‫الثالث على التوالي‪.‬‬

‫عقارات الريف اإلنجليزي وضواحي لندن‬

‫ومن الواضح أن أية زيادة للضرائب على األثرياء‪ ،‬أو قلة أو‬ ‫ضعف الوظائف في مدينة لندن سوف لن يشكالن أي عائق أمام‬ ‫انتعاش سوق العقارات الفاخرة في لندن‪ ،‬ذلك ألن أغلب زبائنها‬ ‫من الشريحة الثرية التي ال توثر بها مثل هاذان العامالن‪.‬‬

‫إال أنه في اآلونة األخيرة برز واضحا ً للعيان أن بعض وكاالت‬ ‫سوق العقارات الفاخرة في لندن أخذت تنحى نحو سياسة جذب‬ ‫الباحثين والمستثمرين في العقارات عن العقارات التي تتميز‬ ‫برقيها وجودتها‪ ،‬السيما في الريف اإلنجليزي أو ضواحي لندن‪،‬‬ ‫والتي تتميز بالمنازل المريحة والفاخرة‪ .‬وهذه السوق تكتسب‪،‬‬ ‫شيئا فشيئا‪ ،‬سمعة طيبة بين األثرياء والمشاهير‪.‬‬ ‫وفي هذا الصدد‪ ،‬أصدرت مؤسسة (ويلث إنسايت–‬ ‫‪ )WealthInsight‬العالمية لالستشارات المالية‪ ،‬والتي تقع في‬ ‫لندن‪ ،‬بحثا ً يلقي الضوء على أكثر بلدات وقرى بريطانيا ثراء‪.‬‬ ‫ووفقا ً لهذه المؤسسة‪ ،‬تفخر منطقة ويندسور‪ ،‬وهي التي تحتضن‬ ‫المنازل الرسمية للعائلة المالكة البريطانية‪ ،‬بأن ‪ 812‬مليونيرا‬ ‫يقطنها‪ .‬ويقدر متوسط أسعار المنازل في هذه البلدة بنحو ‪066‬‬ ‫ألف جنيه إسترليني (‪ 116.1‬ألف دوالر أمريكي)‪ .‬وتأتي‬ ‫ويبريدج‪ ،‬والتي تقع على بعد ‪ 8‬أميال من لندن‪ ،‬في المرتبة‬ ‫الثانية حيث يتجاوز عدد األثرياء الذين يقطنوها الـ ‪ 822‬شخص‪،‬‬ ‫بينما تقدر أسعار العقارات فيها بنحو ‪ 150‬ألف جنيه إسترليني‬ ‫(أو ما يقارب ‪ 882‬ألف دوالر أمريكي)‪.‬‬ ‫ويشير تقرير من مؤسسة أوفرسيز لينك إنترناشونال‬ ‫(‪ ،)Overseas Link International‬بأن ارتفاع أسعار‬ ‫العقارات في لندن خالل عام واحد قد تجاوز نسبة ‪ ،%02‬وإن‬ ‫المدينة قد تحولت بالفعل إلى وجهة مفضلة بالنسبة ألثرياء العالم‪.‬‬ ‫وأضاف التقرير بأن مدينة لندن تضم اآلن أغلى العقارات في‬ ‫القارة األوروبية‪ ،‬وإن أثرى أثرياء العالم قد تدفقوا في السنوات‬ ‫األخيرة لشراء العقارات الفارهة في وسط العاصمة البريطانية‪،‬‬ ‫وخاصة في المناطق المحيطة بحديقة "هايد بارك" التي تمثل‬ ‫أكبر وأشهر حديقة في العالم‪.‬‬ ‫ويقول الكثير من المراقبين والمحللين االقتصاديين أن ارتفاع‬ ‫أسعار العقارات في لندن قد تسببت بارتفاع في تكاليف المعيشة‬ ‫بالشكل الذي لم تعد الطبقة الفقيرة تحمله‪ ،‬مما تسبب في هروب‬ ‫هذه الطبقة وتقلص كبير في حجم الطبقة المتوسطة التي هي‬ ‫األخرى لم تعد تجد لها مكانا ً مناسبا ً في لندن‪ .‬ويرى عديد من‬ ‫المحللين االقتصاديين بأن هذا األمر يؤثر في النهاية على توفر‬ ‫األيدي العاملة وعلى الحركة االقتصادية والنشاط التجاري في‬ ‫المدينة‪.‬‬

‫وتشير البيانات الحديثة من مؤسسة (ويلث إنسايت) بأن اإلقبال يزداد بسرعة‬ ‫كبيرة على بلدة هينيلي الواقعة على ضفة نهر التايمز على بعد ‪ 02‬ميالً من‬ ‫لندن‪ .‬وأن أعداد األثرياء ازدادت بنسبة ‪ %01‬منذ العام ‪ 0228‬وحتى العام‬ ‫‪ 0250‬في المنطقة‪ .‬كما أشارت البيانات ذاتها‪ ،‬بأن هذه الزيادة في أعداد‬ ‫األثرياء في بلدة هينيلي يتزامن مع تراجع عدد أصحاب الماليين في بريطانيا‬ ‫وبنسبة ‪ %2‬للفترة ذاتها‪ .‬وهكذا يظهر واضحا ً للعيان بأن البلدات في ضواحي‬ ‫لندن تتقدم لتحتل الخيار األول بالنسبة إلى األثرياء الذين يبحثون عن العقارات‬ ‫المتميزة‪ .‬والسبب في هذا اإلقبال هو قرب هذه المناطق من لندن‪ ،‬في الوقت‬ ‫ذاته تقع أسعار العقارات في بلدتي هيل وألديرلي‪ ،‬واللتين تقعان في أقصى‬ ‫شمال ضواحي العاصمة لندم‪ ،‬تقدر بنحو ‪ 162‬ألف جنيه إسترليني (أو ما‬ ‫يقارب ‪ 622.1‬ألف دوالر أمريكي)‪ ،‬ونحو ‪ 182‬ألف جنيه إسترليني (أو ما‬ ‫يقارب ‪ 802.2‬ألف دوالر أمريكي) على التوالي‪ .‬وتجذب هذه المزايا المشترين‬ ‫الزبائن من الشرق أوسطيين إلى خارج لندن‪ .‬وهذا ما أكدته بيانات مؤسسة‬ ‫(ويلث إنسايت) بأن الشرق أوسطيين يفضلون منطقة ويندورث ومنطقة‬ ‫سينت جورج ساينت‪ .‬وهكذا تجذب لندن المستثمرين المتمرسين وأولئك الذين‬ ‫يبحثون عن مسكن على حد سواء‪.‬‬

‫‪ARABIC SECTION‬‬

‫بحسب شركات عقارية في لندن فإن مستثمري‬ ‫الشرق األوسط يتطلعون إلى استثمارات تتسم‬ ‫باالستقرار على المدى البعيد‪ ،‬وهو ما توفره األصول‬ ‫العينية‪ ،‬وخصوصا في ظل حالة التقلب التي تشهدها‬ ‫أسواق األسهم والسندات العالمية‪ .‬واستحوذت سوق‬ ‫العقارات في لندن على نحو ‪ %62‬من االستثمارات‬ ‫اإلماراتية الخارجية في القطاع العقاري نهاية عام‬ ‫‪ ،0255‬بينما تقدر أوساط استثمارية أن االستثمارات‬ ‫القطرية قفزت إلى أكثر من ‪ 501‬مليار لاير قطري‬ ‫في بريطانيا خالل العام ‪ ،0250‬بعد أن سجلت‬ ‫عاصمة البريطانية مزيداً من التماسك واالنتعاش‬ ‫خالل الفترة نفسها‪ ،‬بحسب شركة آي بي غلوبال‪،‬‬ ‫المتخصصة في االستثمارات العقارية‪ ،‬وهو نهج‬ ‫استمر خالل العام الماضي‪ ،‬نظرا الستمرار حالة عدم‬ ‫االستقرار السياسي في كثير من بلدان المنطقة‬ ‫وتعمق األزمة في بلدان أخرى‪.‬‬

‫بنتهاوس‬

‫ونشرت شركة "سي بي آر إي" (‪ )CBRE‬بحثا ً يكشف تجاوز قيمة شقق البنتهاوس‪ ،‬التي بدأت عمليات البيع لها في شهر حزيران (يونيو)‬ ‫‪ 3102‬في لندن‪ ،‬وتجاوز البيع حاجز المليار جنيه إسترليني (‪ 0.1‬مليار دوالر)‪ .‬وقد كان التقرير الذي نشرته "سي بي آر إي" تحت عنوان‬ ‫"شقق البنتهاوس في لندن" يعتبر أول دراسة متعمقة عن أهمية الكماليات في الشقق باألدوار العليا‪ ،‬فقد شهد هذه السوق ارتفاعا في القيمة منذ‬ ‫بدء تعافي سوق العقارات الرئيسية من االنهيار الذي تسببت به األزمة العالمية‪ .‬وقدم التقرير بحثا ً يوفر دليالً مفصالً لمفهوم شقق البنتهاوس‪،‬‬ ‫وماهي األمور التي تميز بينها وبين الشقق الضخمة األخرى‪ .‬وتشهد شقق البنتهاوس تطورا عبر جميع أرجاء لندن‪ ،‬بيد أن أسعارها تتفاوت‬ ‫بشكل مذهل‪ ،‬وقد أصبح من المستحيل في الوقت الحالي‬ ‫شراء شقة بنتهاوس في األدوار العليا بلندن بقيمة أقل‬ ‫من مليون جنيه إسترليني (‪ 0.1‬مليون دوالر)‪ .‬وبالرغم‬ ‫من أنه يمكن العثور على شقق بنتهاوس تتراوح أسعارها‬ ‫بين ‪ 3 - 1,5‬مليون جنيه إسترليني (‪ 3.3‬مليون ‪5.1‬‬ ‫مليون دوالر) في إسلينجتون وكامدن‪ ،‬فإن األمر يختلف‬ ‫في وسط مدينة لندن‪ ،‬إذ تبدأ أسعار هذه الشقق من ‪4‬‬ ‫ماليين جنيه إسترليني (‪ 1.0‬مليون دوالر)‪ .‬ويصل‬ ‫متوسط األسعار في األماكن التي تحظى بإقبال شديد جداً‬ ‫إلى ‪ 13‬مليون جنيه إسترليني (‪ 0..1‬مليون دوالر)‪.‬‬ ‫وعليه فقد يتجاوز سعر القدم المربع ‪ 4‬آالف جنيه‬ ‫إسترليني (‪ 1‬آالف دوالر)‪ .‬إن هذه النوعية من الشقق‬ ‫تباع مقابل دفع قيمة مقدمة تزيد عن النسبة المطلوبة في‬ ‫باقي المشروع التطويري بحوالي ‪ ،%11‬وقد تمثل‬ ‫حوالي ‪ %31‬من القيمة اإلجمالية لبيع المشروع ككل‪.‬‬

‫سوق اإليجارات‬

‫ومع ذلك‪ ،‬فإن شراء هذه الشقق ال يقتصر على المستثمرين الدوليين‪.‬‬ ‫فعلى الرغم من إتمام الكثير من الصفقات في السر‪ ،‬فإن عدد عمليات وفيما تبقى المبيعات منتعشة‪ ،‬يظل سوق اإليجارات في لندن في حالة‬ ‫البيع للمشترين البريطانيين يصل إلى نصف عمليات البيع التي قامت مقلقة بعض الشيء بالنسبة إلى أصحاب العقارات في العاصمة‪ ،‬وتزداد‬ ‫بها شركة "سي بي آر إي"‪.‬‬ ‫الظروف صعوبة‪ ،‬إذ إن أسعار اإليجارات في المناطق المرموقة في‬ ‫بالعقارات‬ ‫الخاصة‬ ‫األبحاث‬ ‫مديرة‬ ‫سيبريتس‪،‬‬ ‫وصرحت السيدة جينيت‬ ‫وسط لندن انخفضت بنسبة ‪ %0.0‬في ‪ ،0250‬وعند البحث عن‬ ‫السكنية في شركة "سي‪ .‬بي‪ .‬آر‪ .‬إي" بأنه "يجب أال يقلل أي شخص األسباب‪ ،‬فمن السهل أن ندرك أن تراجع سوق الوظائف هو المسؤول‪،‬‬ ‫من أهمية بيع شقق البنتهاوس في سوق العقارات في لندن‪ ،‬حيث فأسعار اإليجارات في لندن مرتبطة ارتباطا وثيقا بسوق الوظائف‪ ،‬ومن‬ ‫ستوفر المبيعات التي تزيد قيمتها عن مليار جنيه إسترليني (‪ 0.1‬مليار المعلوم أن فرص العمل قد قلت مؤخرا بشكل حاد‪.‬‬ ‫دوالر)‪ ،‬وهي قيمة تضاعف قيمة الصندوق االستثماري "احصل على‬ ‫مبنى" الخاص بالحكومة‪ ،‬أكثر من ‪ 70‬مليون جنيه إسترليني (‪ 011‬ووفقا لوحدة مراقبة التوظيف في لندن‪ ،‬والتي هي جزء من مؤسسة‬ ‫مليون دوالر) رسوم دمغة‪ ،‬إضافة إلى دعم سوق اإلنشاءات"‪.‬‬ ‫(مورغان مكينلي) لخدمات التوظيف‪ ،‬فقد تراجعت وفرة الوظائف في‬ ‫قطاع الخدمات المالية بنسبة ‪ %01‬في العام ‪ 0250‬مقارنة بالعام‬ ‫وبالحديث عن جودة هذه الشقق واإلقبال الشديد‪ ،‬أكد رئيس قسم ‪ . 0255‬ويقول هاكان إنفر‪ ،‬مدير العمليات لشؤون الخدمات المالية في‬ ‫العقارات السكنية بالشركة ‪ ،‬السيد مارك كولينز‪ ،‬على أهمية سوق مؤسسة (مورغان مكينلي)‪ ،‬إن عدد فرص العمل في لندن انخفض أكثر‬ ‫شقق البنتهاوس حيث قا‪" :‬تعزز شقق البنتهاوس التي تتميز بجودتها من نيويورك ألول مرة منذ ‪ 50‬عاما‪ ،‬مشيرا إلى أن عدد الباحثين عن‬ ‫العالية والمعروضة للبيع في لندن من موقع العاصمة البريطانية الجديد العمل في المدينة انخفض أيضا بدوره‪ .‬ويقول‪" :‬إن عدد الباحثين عن‬ ‫كمقر لمنازل األثراء الدوليين خارج بلدانهم‪ ،‬إضافة إلى توفير موقع الوظائف في لندن العام الماضي انخفض إلى أدنى مستوى له منذ العام‬ ‫قيم لثرواتهم‪.‬‬ ‫‪ 0221‬حيث وصل إلى ‪ 0،886‬شخص"‪.‬‬

‫‪28‬‬

‫‪29‬‬

‫ ‬

‫ ‪ARABIC SECTION‬‬

‫إلى ذلك‪ ،‬أفادت الشركة المتخصصة في االستثمارات العقارية‬ ‫"آي بي غلوبل" أن أسواق العقارات في لندن تحقق عوائد‬ ‫مجزية للمستثمرين من دولة اإلمارات‪ .‬وذكرت الشركة ذاتها أن‬ ‫العقارات في منطقة وسط لندن القديمة قد حافظت على مستوى‬ ‫أدائها الجيد‪ ،‬مشيرة إلى أنها استقبلت العديد من طلبات الشراء‬ ‫من منطقة الشرق األوسط‪ .‬بينما ذكر تقرير المزايا القابضة إن‬ ‫أسعار المنازل والعقارات الفاخرة تخضع لعدد من العوامل أهمها‬ ‫المستوى الذي توفره هذه العقارات‪ ،‬وأضاف أن أسعار العقارات‬ ‫الفاخرة في تزايد مستمر‪ ،‬لذلك فإن حجم الصفقات العقارية في‬ ‫تزايد على الرغم من أن عدد الصفقات في تناقص وهو ما يفسره‬ ‫االرتفاع الكبير في أسعار العقارات التي تصل إلى عشرات‬ ‫الماليين في بعض األحيان‪.‬‬

‫وقال تقرير شركة المزايا القابضة صدر حديثا إن العاصمة البريطانية لندن‬ ‫رسخت نفسها كمالذ عقاري للمستثمرين في الشرق األوسط‪ ،‬لما تتمتع به من‬ ‫استقرار سياسي وتشريعي‪ ،‬وحالة النضج التي يتمتع بها السوق مقارنة‬ ‫باألسواق العقارية في الشرق األوسط‪ .‬كما أشار التقرير إلى أن انخفاض سعر‬ ‫الجنيه اإلسترليني الذي حدث خالل السنوات الماضية مقارنة بالعمالت األخرى‬ ‫جعل من أسعار العقارات في لندن مغرية لكثير من المستثمرين الساعين‬ ‫لشراء العقارات المميزة في العاصمة البريطانية‪.‬‬ ‫وذكر تقرير شركة المزايا القابضة صدر حديثا أن األحداث الجارية في بعض‬ ‫الدول العربية قد ساعدت على ترسيخ مكانة بعض الوجهات العقارية في‬ ‫المنطقة‪ ،‬مثل اإلمارات وخارجها مثل لندن‪ ،‬وخصوصا أن معظم المناطق التي‬ ‫تعاني تغييرات سياسية بحاجة إلى أكثر من ثالث سنوات لتكون سوقا ً مستقرة‬ ‫وآمنة‪ .‬واعتبر التقرير أن أزمة الديون األوروبية ستزيد من الضغوط‪ ،‬حيث‬ ‫إن االستثمارات في أوروبا يجب أن تكون أكثر حذرا‪ ،‬وخصوصا بعد تأثر‬ ‫منطقة اليورو وفرص االستثمار باألزمة‪ ،‬حيث على المستثمرين "تلمس‬ ‫مستويات القاع"‪ ،‬التي باتت متباينة في أوروبا‪ ،‬فالمملكة المتحدة قد تفادتها‬ ‫بنجاح‪ ،‬فيما تستمر حالة التصحيح في دول أخرى‪.‬‬ ‫ومن الجدير ذكر أن أسعار العقارات في لندن كانت قد ارتفعت في ‪ 0250‬بنسبة‬ ‫تالمس ‪ .%2‬وكانت أسعار العقارات في لندن قد ارتفعت بنسبة ‪ %00‬خالل‬ ‫السنوات الخمس الماضية‪ ،‬كما شهدت إيجارات المناطق الرئيسة في لندن ارتفاعا ً‬ ‫بنسبة ‪ %52‬في عام ‪ ،0250‬وأن معدل اإليجارات في لندن بات أعلى بنسبة ‪%1‬‬ ‫عن ذروة مستوياتها في عام ‪ .0228‬وجاء أداء الشقق أفضل من المنازل‪ ،‬بمعدل‬ ‫يزيد بنسبة ‪.%1.2‬‬

‫وقد استفادت من ذلك العقارات التي يقل سعرها عن‬ ‫مليوني جنيه استرليني (أو ما يقدر بنحو ‪ 0‬ماليين دوالر‬ ‫أمريكي)‪ ،‬إال أن تغيير القانون سيترك بعض النتائج‬ ‫السلبية في األعوام المقبلة‪ .‬وبحسب آراء خبراء العقارات‬ ‫في لندن أن ارتفاع ضريبة فرض الرسوم على معامالت‬ ‫األراضي بنسبة ‪ %8‬سيؤدي‪ ،‬على المدى الطويل‪ ،‬إلى‬ ‫تراجع التجارة في العقارات التي تعادل قيمتها ‪ 0‬إلى ‪0‬‬ ‫ماليين جنيه إسترليني (أو ما يقدر بنحو ‪ 0‬إلى ‪1.6‬‬ ‫مليون دوالر أمريكي) وبمعدل ‪ %1‬مقارنة بما لتكون‬ ‫عليه لوال االرتفاع‪ .‬وعلى ما يبدوا أن المستثمرين في‬ ‫العقارات في لندن بدؤوا يستعيدون ثقتهم بأداء سوق‬ ‫العقارات بعد أن تحسن في الربع األول من العام‬ ‫‪ .0250‬وعلى ما يبدوا أن العقارات التي تقدر قيمتها‬ ‫بمليوني جنيه (أو ما يقدر بنحو ‪ 0‬ماليين دوالر أمريكي)‬ ‫قد واجهت بعض المصاعب‪ ،‬إال أن خبراء العقارات‬ ‫يؤكدون بأن أثر ارتفاع الضرائب متواضع جدا بالنسبة‬ ‫للعقارات التي يعادل ثمنها أكثر من ‪ 0‬ماليين جنيه‬ ‫استرليني (أو ما يقدر بنحو ‪ 1.6‬مليون دوالر أمريكي)‪.‬‬

‫وأشار تقرير المزايا إلى أن المستثمرين يتجهون إلى بريطانيا‪،‬‬ ‫ألن سوق العقارات فيها يتميز بالنضج وبعدة عوامل أبرزها‬ ‫اإلطار القانوني الراسخ‪ ،‬وانخفاض تكاليف االقتراض وقلة‬ ‫المعروض من الوحدات السكنية‪ ،‬ال سيما في المناطق الحيوية في‬ ‫قلب لندن‪ ،‬ما يجعل هذه العقارات متميزة ومطلوبة بشكل دائم‪ ،‬و‬ ‫يجعل عملية تسييلها أمراً متاحا ً‪ .‬دون تعقيدات كثيرة‪ .‬والحظ‬ ‫تقرير المزايا القابضة أن هناك فوائض أموال خليجية ضخمة‬ ‫تبحث عن فرص استثمارية‪ ،‬وترى تحديداً في عقارات لندن‬ ‫مميزات كثيرة في سوق االستثمار والمستثمر الخليجي‪ .‬وكان‬ ‫الجنيه اإلسترليني قد خسر نحو نسبة ‪ %58‬من قيمته مقابل سلة‬ ‫من العمالت خالل السنوات الخمس الماضية نتيجة عوامل‬ ‫اقتصادية وارتباط االقتصاد البريطاني بالقارة األوروبية التي‬ ‫تعاني من مشاكل ديون متفاقمة‪.‬‬ ‫إال أنه من الجدير ذكره بأن ازدهار سوق العقارات في لندن قد‬ ‫صاحبه أيضا ً ارتفاع في نسبة ضريبة فرض الرسوم على‬ ‫معامالت األراضي‪ ،‬والتي ازدادت بنسبة ‪ %8‬عام ‪ 0250‬لتصل‬ ‫في ضمن نطاق شمولها العقارات التي تصل قيمتها إلى ‪ 0‬مليون‬ ‫جنيه استرليني (أو ما يقدر بنحو ‪ 0‬ماليين دوالر أمريكي)‪ .‬وقد‬ ‫ارتفعت هذه الضريبة أيضا ً بالنسبة لألشخاص االعتباريين لتصل‬ ‫إلى ‪ ،%51‬ما يجعل الباحثين عن العقارات المرموقة يترددون‬ ‫قبل اإلقدام على الشراء‪ .‬وهذا ممكن أن يفسر تراجع مبيعات‬ ‫المنازل التي تقدر أسعارها بعدة ماليين بنسبة ‪ %05‬في الربع‬ ‫األخير من العام ‪ ،0250‬وذلك مقارنة بالفترة نفسها من العام‬ ‫‪.0255‬‬

‫‪ARABIC SECTION‬‬

‫وفي تطور مفاجئ وصل متوسط السعر المطلوب‬ ‫لشراء منزل في وسط لندن نصف مليون جنيه‬ ‫إسترليني‪ .‬ووفقا ً لموقع "رايت موف" إن سعر منزل‬ ‫بـ ‪ 122.882‬جنيها ً إسترلينيا ً في لندن قد ارتفع بنحو‬ ‫‪ 562‬ألف جنيه إسترليني‪ ،‬خالل شهر نيسان (أبريل)‬ ‫من عام ‪ ،0250‬أي ما يفوق االرتفاع الحاصل في‬ ‫شهر أذار (مارس) ‪ 0250‬بنسبة ‪ ،%0.8‬وفقا ً اً‬ ‫لصحيفة "ذا تايمز" البريطانية‪ .‬ويشار إلى أن متوسط‬ ‫سعر العقار في إنجلترا وويلز قد وصل‬ ‫حدود ‪ 012.815‬جنيه إسترليني‪ ،‬وهذا بحد ذاته رقم‬ ‫قياسي خصوصا ً بعد تسجيل األسعار إلى ارتفاعات‬ ‫متتالية على مدار النصف األول من عام ‪.0250‬‬ ‫وشهدت سوق العقارات بداية جيدة خالل العام ‪0250‬‬ ‫تعتبر األقوى منذ عام ‪ ،0221‬مدفوعة بذلك بسهولة‬ ‫الحصول على القروض العقارية‪ ،‬فيما بقيت كمية‬ ‫العقارات المعروضة في السوق ضئيلة نسبيا ً‪.‬‬ ‫من جهة أخرى‪ ،‬أثارت المكاسب األخيرة في سوق العقارات مخاوف من‬ ‫أن تنتج خطط الحكومة في مساعدة البريطانيين على تملك وشراء‬ ‫المنازل‪ ،‬إحداث فقاعة عقارات جديدة‪ .‬وبهذا الخصوص‪ ،‬كان جورج‬ ‫أوزبورن‪ ،‬مستشار السوق‪ ،‬قد أطلق عدة تدابير بمليارات الجنيهات‬ ‫اإلسترلينية في ربيع عام ‪ 0250‬تهدف إلى إبعاث الحياة في سوق‬ ‫اإلسكان‪ ،‬حيث دخلت مبادرة "المساعدة على الشراء" حيز التنفيذ في‬ ‫شهر كانون الثاتي (يناير) ‪ ،0250‬وبقيمة تمويلية تصل إلى نسبة‬ ‫‪ %21‬من سعر العقار‪ .‬فيما حذر ميرفين كينغ‪ ،‬محافظ سابق لبنك‬ ‫إنجلترا‪ ،‬من تداعيات المخطط وشدد على أنه ال يجب أن يكون دائما ً‪.‬‬ ‫وأشار خطاب صادر عن المكتب المسؤول عن الميزانية العامة إلى أن‬ ‫مبادرة المساعدة على الشراء يمكن ان تهدد ارتفاع األسعار‪.‬‬

‫واستقطبت منطقة جنوب كينغستون أكبر عدد من المشترين العالميين‬ ‫في العام ‪ ،0250‬وذلك وفقا ً لنسب البيع‪ .‬وكانت أحياء أخرى محظوظة‬ ‫بما فيه الكفاية لتقع داخل أو حول مناطق لندن المرموقة‪ ،‬وتم اعتبارها‬ ‫من األماكن المفضلة عالميا ً أيضا ً‪ .‬وفيما يزداد عدد المشترين العالميين‪،‬‬ ‫تكبر أيضا ً قيم العقارات‪ .‬فقد أكد بحث صادر عن مؤشر األسعار الخاص‬ ‫بـ (دائرة تسجيل األراضي) في لندن أن متوسط أسعار العقارات في لندن‬ ‫يبلغ ‪ 080‬ألف جنيه إسترليني (أو ما يقدر بنحو ‪ 161‬ألف دوالر‬ ‫أمريكي) مقارنة بـ ‪ 560‬ألف جنيه استرليني (أو ما يقدر بنحو ‪016‬‬ ‫ألف دوالر أمريكي) في باقي مناطق إنجلترا وويلز‪ .‬وفي بعض المناطق‬ ‫في كينغستون وتشيلسي‪ ،‬تخترق األسعار عنان السماء لتصل إلى‬ ‫‪ 5.282‬مليون جنيه إسترليني‪.‬‬

‫ووفقا لموقع "رايت موف"‪ ،‬فإن عقارات لندن والجنوب الشرقي‬ ‫والشرقي من إنجلترا شهدت ارتفاعا ً بنسبة ‪ %0.5‬على المساكن خالل‬ ‫شهر نيسا‪( ،‬أبريل) ‪ ،0250‬إال أن مناطق يوركشاير ‪ -‬هامبرسايد‬ ‫وشرق ميدالند هي الوحيدة التي سجلت أسعاراً أقل عن عام ‪،0250‬‬ ‫حيث بلغت أسعارها بحدود ‪ 518.202‬جنيه إسترليني وإلى ‪566,225‬‬ ‫جنيها إسترلينيا على التوالي‪.‬‬

‫ولزيادة اإلقبال أكثر وأكثر على أغنى مناطق لندن‪ ،‬تم مؤخراً عرض‬ ‫قصر باذخ للبيع في كارلتون هاوس تراس على مقربة من وستمنستر‪،‬‬ ‫وقد طلب أصحاب القصر‪ ،‬والذين يقال بأنهم من عائلة مالكة عربية‪،‬‬ ‫مبلغ ‪ 012‬مليون جنيه إسترليني (أو ما يقدر بنحو ‪ 088‬مليون دوالر‬ ‫أمريكي)‪ .‬وفي الوقت ذاته‪ ،‬بيع قصر كورنويل تراس لقاء ‪ 82‬مليون‬ ‫جنيه إسترليني (أو ما يقدر بنحو ‪ 502‬مليون دوالر أمريكي) وهو يقع‬ ‫قريبا من شارع بيكر‪ ،‬والشهير بفضل حكايات شيرلوك هولمز‪ .‬وفيما‬ ‫تتنامى المبيعات في سوق العقارات في لندن بشكل مطرد‪ ،‬فإنه دليل‬ ‫واضح بأن االستثمار في عقارات لندن هو خيار ذكي دون أدنى شك‪.‬‬

‫ويقول خبراء مؤسسة (نايت فرانك) إنه على مدى العامين الماضيين‬ ‫كان أكثر من نصف من اشتروا أمالكا في لندن تفوق قيمتها مليون جنيه‬ ‫استرليني أو ما يقدر بنحو ‪ 5.1‬مليون دوالر‪ ،‬من غير بريطانيي‬ ‫الجنسية‪ ،‬كما ترتفع نسبة األجانب إلى ‪ %62‬بين أصحاب العقارات‬ ‫التي تعادل أكثر من ‪ 1‬ماليين جنيه استرليني ( ما يقارب ‪ 8.6‬مليون‬ ‫دوالر أمريكي)‪ .‬ويشكل الروس واألمريكيون والهنود أكثر من ‪%51‬‬ ‫ممن اشتروا العقارات في لندن خالل العام ‪ .0250‬أما بالنسبة إلى‬ ‫المستثمرين المقيمين‪ ،‬فال يمكن تجاهل الجاليات الشرق أوسطية في‬ ‫المجتمع اللندني‪ ،‬فوفقا ً لمكتب اإلحصاءات السكانية البريطاني‪ ،‬يشكل‬ ‫العرب نسبة ‪ %5.0‬من سكان المدينة‪ ،‬كما أن الكثير منهم يشترون‬ ‫أكثر مناطق لندن طلبا‪ .‬ووفقا لبايلي‪ ،‬يشكل الشرق أوسطيون أكثر بقليل‬ ‫من ‪ %2‬من مشتري العقارات الفاخرة في لندن‪ ،‬أو بمعدل نفقات يزيد‬ ‫على ‪ 0.8‬مليون جنيه إسترليني (أو ما يقارب ‪ 1.8‬مليون دوالر‬ ‫أمريكي)‪ ،‬ويفضل العرب أصبحت أحياء مثل نايتسبريدج وريفرسايد‬ ‫وكينغستون من أفضل األحياء واغناها في قلب العاصمة لندن‪ .‬ويظهر‬ ‫اإلماراتيون إقباالً كبيراً على المدن البريطانية المزدحمة‪ ،‬وقد يكون ذلك‬ ‫بسبب حبهم لها‪ ،‬أو بسبب قدرتهم على شرائها‪ .‬ويشكل اإلماراتيون‬ ‫نسبة ‪ %0.1‬من مشتري العقارات في لندن بشكل عام‪ ،‬ونسبة‬ ‫‪ %06.5‬من مشتري العقارات الشرق أوسطيين بشكل خاص‪ ،‬يتبعهم‬ ‫السعوديون‪ ،‬ومن بعد األتراك فالمصريون‪.‬‬

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‫ ‪ARABIC SECTION‬‬

‫‪London, the Best City for Investment in Real Estate‬‬

‫لندن مدينة االستثمار في العقارات‬

‫قبل ‪ 0222‬عام‪ ،‬خطى الرومان أولى خطاهم في العاصمة البريطانية التي كانت تعرف باسم "الندينيوم"‪ .‬ومنذ ذلك‬ ‫الوقت اسست "لندن" وبنيت وازدهرت بفضل الطموح والجهود العالمية‪ .‬ويزداد اإلقبال على هذه المدينة المزدهرة‬ ‫دون أن تعترضه المصاعب منذ ذاك الحين‪ ،‬وأصبحت لندن وجهة المستثمرين الذين يجوبون األرض طوالً وعرضا ً‬ ‫بحثا ً عن استثمارات جيدة لرؤوس أموالهم‪ .‬وقد طرحت هذه المدينة نفسها كمفتاح االزدهار ومدينة االستثمار‬ ‫العالمي‪.‬‬ ‫قد تكون لندن واحدة من أسرع المدن تطورا في العالم‪ ،‬فهي تتمتع‬ ‫بمناخ اقتصادي قادر على جذب أعداد كبيرة من االستثمارات‪ ،‬مختصرا‬ ‫مواسم عدة في يوم واحد‪ ،‬وهنالك أمران أساسيان ال يتغيران في هذه‬ ‫المدينة‪ ،‬هما األعمال المزدهرة واإلقبال العالمي‪ ،‬فهذه المدينة أشبه‬ ‫ببوتقة تنصهر فيها الموارد البشرية والفكرية واالقتصادية وتتمتع‬ ‫بـ‪ 022‬لغة مختلفة وتمتاز بالتنوع عرقي غني ومتوازن‪ .‬وتخوض لندن‬ ‫اآلن منافسة محتدمة مع نيويورك لكسب لقب عاصمة االقتصاد‬ ‫العالمية‪.‬‬ ‫قد يكون من المدهش أن سوق العقارات في لندن‪ ،‬والتي يتجاوز تعدادها‬ ‫‪ 8‬ماليين نسمة (كما أن عدد السكان يتجاوز ‪ 51‬مليونا في لندن‬ ‫الكبرى) تستمر في استقطاب المستثمرين األثرياء من كل أنحاء‬ ‫المعمورة‪ ،‬ويصف ليام بايلي‪ ،‬المدير العالمي لقسم البحوث السكنية في‬ ‫مؤسسة (نايت فرانك‪ )Knight Frank -‬لالستشارات العقارية‪،‬‬ ‫هؤالء األثرياء بـ"نخبة المستثمرين التي تجوب العالم"‪.‬وفيما يتعلق‬ ‫بنمو األسعار‪ ،‬فلم يتفوق على لندن منذ االنخفاض في مطلع العام ‪0222‬‬ ‫سوى هونغ كونغ وجاكرتا وبكين‪.‬‬

‫إن الطلب على المساكن في بعض األحياء المرموقة في وسط لندن‪،‬‬ ‫ومن ضمنها مارليبون وتشيلسي ونوتنغ هيل‪ ،‬دليل على أن األزمة‬ ‫االقتصادية العالمية لم تؤثر في قيمة هذه العقارات البتة‪ ،‬كما أن العوامل‬ ‫المتمثلة في المصاعب المحيطة بمنطقة اليورو‪ ،‬وانخفاض قيمة الجنيه‬ ‫االسترليني‪ ،‬وقلة نسبة الفوائد عليه‪ ،‬تجتمع لدفع اإلقبال على لندن أكثر‬ ‫فأكثر‪.‬‬ ‫ووفقا لتقرير أعدته مؤسسة (نايت فرانك) تحت عنوان "استعراض‬ ‫الوضع السكني في لندن خالل ربيع العام ‪ "0250‬فقد وصل نمو‬ ‫األسعار في لندن إلى ‪ %8.8‬في عام ‪ ،0250‬وبهذا تفوقت على الكثير‬ ‫من نظيراتها‪ ،‬ففي نيويورك حيث تراجع نمو أسعار العقارات فيها خالل‬ ‫العام الماضي بنحو ‪ ،%5.1‬وفي باريس وصل تراجع أسعار العقارات‬ ‫إلى ‪ ،%1‬وفي جنيف إلى ‪ .%6‬ويقول بايلي إن س ّر نجاح لندن في‬ ‫مجل العقارات هو تزايد الطلب العالمي عليها‪ ،‬أي إن رغبة المستثمرين‬ ‫العالميين بشراء العقارات في لندن يشهد تزايداً مستمراً‪ ،‬كما أن الطلب‬ ‫عليها من الخارج يسهم بشكل كبير في نمو األسعار‪.‬‬

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TENDERS

TENDERS EGYPT IMPLEMENTING THE SOCIETY’S PROJECT ON LOT NO. 13 (12.5 FEDDANS LAND) AT NEW BORGEL ARAB CITY 8TH DISTRICT INCLUDING INFRASTRUCTURE WORKS, ROADS WORKS AND LANDSCAPE Document Cost: LE8,000 Bid Bond: LE 800,000 Contact Omara Al Behar Housing Cooperative Society in Alexandria 3 Ali Pacha Zulfaqar St, Mostafa Kamel, Alexandria Tel: 03 5433702 Deadline: 08/12/2013

IMPLEMENTING PHASE TWO OF A PERMANENT WATER PURIFICATION STATION OF 50,000 M3/ DAY DISCHARGE PLANT Document Cost: LE1,000 Bid Bond: LE250,000 Performance Bond: 5% Contact General Authority for New Urban Societies, New Minya City Development Agency kilo 10 on Minya / Cairo Desert Road, New Minya City Tel: 086 2294002/ 3/ 5 Deadline: 10/12/2013

SUPPLY & INSTALLATION OF PUMPS AND ACCESSORIES Scope of Work The supply and installation of three horizontal pumps with all related accessories at the location of the international park booster pump to feed Eemar Up-Town Project in Moqattam with its brackish water requirements to irrigate parks, also other four vertical pumps with all related accessories at the location of the Almaza booster pump to feed Eemar Up-Town Project in Moqattam also with brackish water to irrigate parks Document Cost: LE5,000 each Bid Bond: LE180,000 & LE200,000 Contact Potable Water Co. of Greater Cairo, Contracts & Purchases Dept., 42 Ramses St., Cairo Tel: 02 25743092/ 25743025 Deadline: 08/12/2013 & 09/12/2013

OMAN OPERATION & MAINTENANCE OF RURAL POWER STATIONS GROUP (F) Tender ऀNo: 129/2013 Tender Document Cost: RO1800 Contact Oman Tender Board Muscat Oman PO Box 787/133 Al Khuwair Tel: +968 24602652 Tenderom@Omantel.net.om http://www.tenderboard.gov.om/eng/ Deadline: 09/12/2013

OPERATION & MAINTENANCE OF RURAL POWER STATIONS GROUP (E) Tender No: 128/2013 Tender Document Cost: RO2000 Contact Oman Tender Board Muscat Oman PO Box 787/133 Al Khuwair Tel: +968 24602652 Tenderom@Omantel.net.om http://www.tenderboard.gov.om/eng/ Deadline: 09/12/2013

DUALIZATION OF IBRI - AL DARIZ MISKIN ROAD STAGE -2(HUJERMT - MISKIN SECTION) Tender No: 127/2013 Tender Document Cost: RO3000 Contact Oman Tender Board Muscat Oman PO Box 787/133 Al Khuwair Tel: +968 24602652 Tenderom@Omantel.net.om http://www.tenderboard.gov.om/eng/ Deadline: 23/12/2013

GOVERNMENT PROPERTIES INSURANCE FOR THE YEAR 2014 Tender No: 126/2013 Tender Document Cost: RO175 Contact Oman Tender Board Muscat Oman PO Box 787/133 Al Khuwair Tel: +968 24602652 Tenderom@Omantel.net.om http://www.tenderboard.gov.om/eng/ Deadline: 16/12/2013

DUALIZATION OF IBRI - YANQUL STAGE -2 Tender No: 125/2013 Tender Document Cost: RO3000 Contact Oman Tender Board Muscat Oman PO Box 787/133 Al Khuwair Tel: +968 24602652 Tenderom@Omantel.net.om http://www.tenderboard.gov.om/eng/ Deadline: 16/12/2013

UNIVERSITY OF OMAN PROJECT DEVELOPMENT CONSULTANCY SERVICES FOR (ACADEMIC RESEARCH ADMINISTRATION STRATEGY PLAN AND STRUCTURE) Tender No: 124/2013 Tender Document Cost: RO625 Contact Oman Tender Board Muscat Oman PO Box 787/133 Al Khuwair Tel: +968 24602652 Tenderom@Omantel.net.om http://www.tenderboard.gov.om/eng/ Deadline: 16/12/2013

JOINT MASTERPLAN FOR UNIVERSITY OF OMAN AND SCIENCE AND TECHNOLOGY CITY Tender No: 123/2013 Tender Document Cost: RO500 Contact Oman Tender Board Muscat Oman PO Box 787/133 Al Khuwair Tel: +968 24602652 Tenderom@Omantel.net.om http://www.tenderboard.gov.om/eng/ Deadline: 16/12/2013

PROJECT MANAGEMENT CONSULTANT FOR THE UNIVERSITY OF OMAN PROJECT Tender No: 122/2013 Tender Document Cost: RO875 Contact Oman Tender Board Muscat Oman PO Box 787/133 Al Khuwair Tel: +968 24602652 Tenderom@Omantel.net.om http://www.tenderboard.gov.om/eng/ Deadline: 16/12/2013

TENDERS

DESIGN SUPPLY INSTALLATION AND COMMISSIONING OF A PRIMARY AND SECONDARY RADAR SYSTEM FOR SALALAH AIRPORT Tender No: 121/2013 Tender Document Cost: RO2500 Contact Oman Tender Board Muscat Oman PO Box 787/133 Al Khuwair Tel: +968 24602652 Tenderom@Omantel.net.om http://www.tenderboard.gov.om/eng/ Deadline: 09/12/2013

DUALIZATION OF IZKI NIZWA ROAD (QARROOT AL JANUBIYAH - BIRKAT AL MAWZ - FIRQ) Tender No: 120/2013 Tender Document Cost: RO3000 Contact Oman Tender Board Muscat Oman PO Box 787/133 Al Khuwair Tel: +968 24602652 Tenderom@Omantel.net.om http://www.tenderboard.gov.om/eng/ Deadline: 09/12/2013

QATAR MARINE ECOLOGICAL SURVEY NEAR PS-2, PS-3 AND NFA Tender No: LT13110800 Scope of Work Qatar Petroleum has Oil and Gas producing fields in the off-shore at Production Station 2 (PS-2), Production Station 3 (PS-3) and North Field Alpha (NFA). Previous marine ecological surveys around off-shore locations of QP were conducted by QP appointed consultants. The purpose of carrying out the ecological survey during 2013- 2014 is to assess the current environmental conditions of sea water, sediment and biota around the above production platforms. Results of the surveys conducted will help QP to establish the marine environmental conditions and provide inputs to the regulatory body, i.e. the Ministry of Environment.

Bid Bond: QR50,000 Document Cost: QR200 Contact Deadline: 08/12/2013

PROVISION OF FLIGHT DESPATCHER AT HALUL Tender No: ST13106300 Scope of Work The contractor shall provide one Flight Dispatcher on a 365 days a year, 12 hours a day basis at Halul. The Flight Dispatcher shall be suitably qualified and experienced, and shall be capable of performing functions such as flight dispatching, helicopter refuelling and also serve as Helicopter Landing Officer from time to time or whenever required.

Bid Bond: QR16,000 Document Cost: QR200 Contact Deadline: 09/12/2013

SAUDI ARABIA EPC OF 33KV SWITCH STATIONS Tender No: 099-C04 Scope of Work This project includes Engineering, Procurement and Construction of two identical 33KV Electrical Switching Stations, which are to be located at Ras Al Khair Industrial City (RIC) Area B and will be supplied with power from SEC Primary Electrical Sub Station # 1North; 380/115/33KV, 1000MVA Sub Station.

Switching Stations are located approximately 6km apart. Work also includes supply and installation of 1Core, 500 mm2 underground cables and 96 Core non-metallic fiber optic cables between Primary Electrical Sub S.S # 1North and the two Switching Stations.

Request for Proposal (RFP) Documents: SR14,000 Contact Royal Commission in Jubail Contracts Section Supply Management Department Tel: (03) 341-4127/4163 Fax: (03) 341-2201 http://www.rcjy.gov.sa/en-US/Jubail/EServices/SuppliersPortal/Tenders/Pages/ EPC-OF-33KV-SWITCH-STATIONS.aspx Deadline: 11/12/2013

RENTAL OF TRANSPORTATION & INDUSTRIAL SECURITY VEHICLES IN RAS AL-KHAIR Scope of Work Tender No: 32J-L08 This project covers rental of 177 new vehicles, of various types, and provide regularly scheduled preventive maintenance and perform routine, accident and emergency call-out repair services. Also, Lessor will furnish and install all necessary accessories such as movable spotlights, etc. and perform maintenance and repair on Royal Commission furnished equipment such as emergency light bars and public address system. Contractor will also furnish applicable insurance policies, for a period of three years.

Request for Proposal (RFP) Documents: SR3000 Contact Royal Commission in Jubail Contracts Section Supply Management Department Tel: (03) 341-4127/4163 Fax: (03) 341-2201 Deadline: 08/12/2013

UAE REPLACEMENT OF 8 NOS. MV SOFT STARTER AND SUPPLY, INSTALLATION, TESTING & COMMISSIONNG OF 8 NOS. MV VFD AT MUSHRIF PUMPING STATION PH-1 STREAM A AND B Tender No: 2131200077 Tender Document Cost: AED1000 Contact Dubai Electricity & Water Authority Office of the Contracts Manager, Zabeel East, PO Box 564, Dubai Tel: + 971 4 3244444 Fax: + 971 4 3248111 Email: contracts@dewa.gov.ae www.dewa.gov.ae Deadline: 09/12/2013

REPLACEMENT OF PILC CABLES IN 11 KV SYSTEM, INSTALLATION COMMISSIONING OF 11KV CABLES (1ST PHASE 200 KMS) Tender No: 2131300066 Tender Document Cost: AED1000 Contact Dubai Electricity & Water Authority Office of the Contracts Manager, Zabeel East, PO Box 564, Dubai Tel: + 971 4 3244444 Fax: + 971 4 3248111 Email: contracts@dewa.gov.ae www.dewa.gov.ae Deadline: 04/12/2013

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34

TENDERS

INDEPENDENT POWER PRODUCER (IPP) ADVISORY SERVICES FOR SOLAR PHOTOVOLTAIC POWER PLANT - PHASE II Tender No: 2131300064 Tender Document Cost: AED2000 Contact Dubai Electricity & Water Authority Office of the Contracts Manager, Zabeel East, PO Box 564, Dubai Tel: + 971 4 3244444 Fax: + 971 4 3248111 Email: contracts@dewa.gov.ae www.dewa.gov.ae Deadline: 04/12/2013

SUPPLY OF COMPOSITE INSULATORS AND FITTINGS FOR 132 KV OHL WRSN - AWIR 1 & 2 Tender No: 2051300067 Tender Document Cost: AED200 Contact Dubai Electricity & Water Authority Office of the Contracts Manager, Zabeel East, PO Box 564, Dubai Tel: + 971 4 3244444 Fax: + 971 4 3248111 Email: contracts@dewa.gov.ae www.dewa.gov.ae Deadline: 05/12/2013

CONSTRUCTION OF THE SURGE PROTECTION DEVICES FOR TRANSMISSION PIPELINE NETWORK & ASSOCIATED WORKS IN EMIRATE OF DUBAI Tender No: 2131300069 Tender Documents: AED3000 Contact Dubai Electricity & Water Authority Office of the Contracts Manager, Zabeel East, PO Box 564, Dubai Tel: + 971 4 3244444 Fax: + 971 4 3248111 Email: contracts@dewa.gov.ae www.dewa.gov.ae Deadline: 11/12/2013

CONSULTANCY SERVICES FOR SUPERVISION OF WATER TRANSMISSION PIPELINES AND ASSOCIATED WORKS (UP TO 1200 MM. DIA.) Tender No: 2131300068 Tender Documents: AED3000 Contact Dubai Electricity & Water Authority Office of the Contracts Manager, Zabeel East, PO Box 564, Dubai Tel: + 971 4 3244444 Fax: + 971 4 3248111 Email: contracts@dewa.gov.ae www.dewa.gov.ae Deadline: 10/12/2013

SUPPLY OF UPVC FOR UNDERGROUND CABLES Tender No: 2051300068 Document Cost: AED200 Contact Dubai Electricity & Water Authority Office of the Contracts Manager, Zabeel East, PO Box 564, Dubai Tel: + 971 4 3244444 Fax: + 971 4 3248111 Email: contracts@dewa.gov.ae www.dewa.gov.ae Deadline: 18/12/2013

REPLACEMENT OF 8 MV SOFT STARTER AND SUPPLY, INSTALLATION, TESTING & COMMISSIONING OF 8 MV VFD AT MUSHRIF PUMPING STATION PH-1 STREAM A AND B Tender No: 2131200077 Document Cost: AED1000 Contact Dubai Electricity & Water Authority Office of the Contracts Manager, Zabeel East, PO Box 564, Dubai Tel: + 971 4 3244444 Fax: + 971 4 3248111 Email: contracts@dewa.gov.ae www.dewa.gov.ae Deadline: 09/12/2013

NORTH AFRICA HARDBALL: UNDERSTANDING POLITICS, SECURITY, ECONOMICS AND ENERGY IN NORTH AFRICA ABCC member Cross-border Information is offering a special 20% discount for its North Africa political risk roundtable in December.

North Africa Hardball offers participants the opportunity to engage with a network of specialists focusing on all the countries of the region from Morocco through to Egypt.

Cross-border Information (CbI) chairman and internationally recognised Maghreb expert, Jon Marks, will head an expert panel that will lead discussions on the prospects for countries in North Africa over the 2014-2015 period, including energy and finance trends and policy directions.

This unique, interactive scenario-building meeting focusing on North Africa’s emerging political and economic landscape is for government, international oil companies, law firms, banks, fund management companies and corporate intelligence companies examining the political risks in North Africa in a time of change.

Held behind closed doors in a roundtable format, Hardball is played out under the Chatham House Rule, whereby participants can openly discuss critical issues but must not be quoted by name.

Previous Hardball roundtables have attracted government figures, diplomats and former

ambassadors, plus representatives from companies including Shell, BG, Statoil, Petroceltic, HSBC, Anadarko Algeria, RWE, National Bank of Abu Dhabi, Weir Oil & Gas, Actis, Norton Rose, Pinsent Masons, Maersk, AGCO International and Jones Day. Venue: Arab British Chamber of Commerce 16 December 2013 Book online or email bruno@cbi-meetings.co.uk For a 20% discount - quote promotion code: NAH12-ABCC For more information see http://africahardball.com/

LEBANON

LEBANON AS AN OUTSOURCING HUB No longer to be seen simply as a tourism destination, Lebanon is also promoting itself as a business hub for high value-added services.

A few weeks ago, the Investment Development Authority of Lebanon did just that, bucking the trend of near-paralysis in almost every state institution since the resignation of the government in March.

The Investment Development Authority of Lebanon (IDAL), a state-affiliated organisation, on 3 0ctober participated for the first time in the International Outsourcing Forum held in France, where it promoted Lebanon as an outsourcing destination for multinational companies.

Accompanying a delegation from IDAL, two Lebanese companies had the opportunity to present their service offerings through customized business-to-business meetings with international companies such as Altcatel Lucent, British Petroleum, DHL Express, General Electric and Llyods among others.

IDAL had initially approached 50 Lebanese firms that offer a broad range of outsourcing services to participate in the forum. Twentyfive expressed interest and participated in a workshop organised by IDAL and chaired by its president, Nabil Itani.

Two companies eventually participated in the forum as the remaining shied away either because of logistical obstacles or the travel expenses and forum fees, which organizers reduced by 50% for Lebanese participants upon IDAL’s request.

“Our objective was to position Lebanon on the global map as a potential centre for high value-added services. Though our efforts might take time before they materialize, the initiative is a first that needs follow up in a consistent manner,” IDAL Project Manager Leila Sawaya El Khoury, who participated at the forum, told The Daily Star.

More than 200 Lebanese companies employing more than 5,000 individuals currently offer outsourcing services that fall under three main subsectors: call centres, business process outsourcing services (BPO), and information technology outsourcing, according to an IDAL study.

The majority of these firms offer IT solutions and employ 4,143 individuals while 13 operate as call centres providing 854 jobs.

However, despite their competitiveness in terms of a highly skilled Lebanese labour force – a major consideration for outsourcing destinations – few have been able to successfully attract multinational clients.

While some Lebanese companies have a solid track in offering consultancy and outsourcing services to multinational firms including Samsung, Toshiba and Nestle, the majority still rely on either local clients or small foreign corporations.

Majid Khoury, who participated in the International Outsourcing Forum as CEO of SmartSource, a Lebanese consultancy and outsourcing services firm, said that it was too early to assess the positive impact of Lebanon’s participation in the forum.

However, Khoury, whose company is establishing a new call centre in Beirut, adds that more important than signing clients is to position Lebanon as an outsourcing destination on the global map.

Khoury said Lebanon should to be able to attract big corporate clients that were currently outsourcing activities to Eastern European countries if the government persevered in advertising the country as a business destination.

While labour cost is a main variable in outsourcing decisions, the allocation of increased importance to quality considerations in terms of the labour pool over the past years has seen multinational firms pick Eastern European countries over Asian nations such as India as their outsourcing destinations.

“Lebanon may not be as cheap as global outsourcing giants like India and the Philippines but given its high skilled labour it should be compared at the level of productivity with Eastern European countries where the labour cost is significantly higher,” Khoury said.

According to IDAL, Lebanon’s average labour cost stands at $9.60 per hour compared to around $13.20 per hour in the Czech Republic for instance.

Khoury said that in addition to its lower labour cost, Lebanon’s workforce had another advantage over peers in Eastern Europe.

“For instance, Canadian firms usually outsource their services to companies that employ individuals who can speak both English and French, and this is rare to find in Eastern European countries besides Romania, whereas Lebanese firms offer such a service,” Khoury said.

Samer Hanna, who also participated in the International Outsourcing Forum as CEO of Capital Outsourcing, a Lebanese BPO and ITO company, said his attendance was an opportunity to see how both countries and foreign companies market themselves as a good choice for outsourcing activities.

“We didn’t go to sign clients, but it was rather a more informative participation as IDAL took the opportunity to portray Lebanon as a good destination for outsourcing activities,” said Hanna, whose company of 60 employees – mainly engineers – serves local clients and businesses based in the Gulf.

Despite its qualified labour force, Lebanon needs to improve its infrastructure and business environment, the other two key elements that affect the decision of companies in their analysis and country choices, Hanna said.

Decision-makers in the outsourcing industry base their choices on rankings such as AT Kearny or the World Bank Location Readiness Index, experts say.

According to the World Bank’s 2013 Business Index, Lebanon’s ranking improved to the 111th place globally from 115th place a year ago.

Among the implemented reforms, the report said Lebanon succeeded in streamlining the business registration process, resulting in tremendous time reduction and also made it easier to pay taxes by introducing an electronic payment system.

But despite this improvement, businesses still complain about red tape, the lack of regulatory reforms and most importantly corruption.

Besides choosing Lebanon as their outsourcing destination, some firms have even considered establishing research and shared service centres in Beirut but were deterred by the deteriorating security situation.

Edited from The Daily Star, 01/11/2013

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BUSINESS EVENTS

BUSINESS EVENTS, TRADE FAIRS AND CONFERENCES MENA Shale 2013 Unconventional Gas Strategy for the New Era 10-11 December 2013 Abu Dhabi, UAE Contact Euro Petroleum Consultants Ltd [EPC] London Tel: +44 (0) 20 7357 8394 Fax: +44 (0) 20 7357 8395 Email: enquiries@EuroPetro.com 4th Annual Middle East & Africa Insurance Summit Dusit Thani, Dubai, UAE 20-21 January 2014 Contact Mohor Mukherjee Fleming Gulf Email: mohor.mukherjee@ fleminggulf.com Tel: +971 4609 1570 Fax: +971 4609 1589 Green Building Expo The Region’s Biggest Exhibition for Sustainable Solutions in the Built Environment Doha Exhibition Centre, Qatar 28-30 January 2014 Contact Joe Atallah Project Manager IFP Qatar Tel: +974 4 432 9900 Mob: +974 3 307 0033 Email: joe.atallah@ifpqatar.com www.ifpqatar.com Middle East and North Africa Energy 2014 New Uncertainties and New Opportunities 27-28 January 2014 Chatham House, St James’s Square, London Contact Conference Unit Chatham House Email: conferences@ chathamhouse.org Tel: +44 (0)20 7957 5729 Fax: +44 (0)20 7957 5710

Green Building Expo The Region’s Biggest Exhibition for Sustainable Solutions in the Built Environment Doha Exhibition Centre, Qatar 28 Jan-30 Jan 2014 Contact Joe Atallah Project Manager IFP Qatar Tel: +974 4 432 9900 Mob: +974 3 307 0033 Email: joe.atallah@ifpqatar.com www.ifpqatar.com 31st International Fair of Khartoum The largest international annual business event in Sudan with substantial support from both government and the private sector 30 January - 6 February 2014 International Fairground, Khartoum, Sudan Contact The Sudanese Free Zones & Markets Company Ltd Email: info@ifksudan.com www.ifksudan.com Sukuk Congress MENA Tapping into the Islamic capital market Al Murooj Rotana, Dubai 2-5 February 2014 Contact IQPC Tel: +971 (0)4 3642975 Email: enquiry@iqpc.ae www.sukukcongressmena.com Gulf Industry Fair 4-6 February 2014 Bahrain International Exhibition Centre, Bahrain Contact http://www.gulfindustryfair.com/ contact-us/ The ACR Show The dedicated event for the airconditioning and refrigeration industry Hall 9, NEC, Birmingham 11-13 February 2014 Contact Jan Thorpe Event Director Tel: +44(0)1622 699113 Email: jthorpe@datateam.co.uk www.acrshow.co.uk

ME-TECH 2014, Dubai Middle East Technology Forum for Oil Refining, Residue Upgrading & Petrochemicals 18 - 19 February 2014 Dubai, UAE Contact Euro Petroleum Consultants Ltd [EPC] London Tel: +44 (0) 20 7357 8394 Fax: +44 (0) 20 7357 8395 Email: enquiries@EuroPetro.com Capital Markets in the 21st Century 2014 9am, 27 February 2014 The Law Society of England & Wales, London WC2A1PL Contact The Law Society Email: ana.brown@lawsociety.org.uk www.lawsociety.org.uk/get-in-touch Global Financial Markets New Rules on Market Structure, Trading and Funding 17 March 2014 Chatham House, St James’s Square, London Contact Conference Unit Chatham House Email: conferences@ chathamhouse.org Tel: +44 (0)20 7957 5729 Fax: +44 (0)20 7957 5710 Oil and Gas Telecommunications 19-20 March 2014 Marriott Hotel Regents Park, London, Contact Tel: +44 (0) 20 7827 6166 or Email: mmalik@smi-online.co.uk www.oilandgastelecomms.com Professional Clothing Show Exhibition for Corporatewear, Workwear and Personal Protective Equipment (PPE) 1-2 April 2014 National Exhibition Centre (NEC), Birmingham Contact Yvette Ashby Managing Director Tel: +44 (0) 870 870 4578 Email: yvette@workwearshow.com www.workwearshow.com 3rd Kuwait Oil & Gas Summit & Exhibition Hosted by the Kuwait Petroleum Corporation (KPC) 14-15 April 2014 Kuwait City Contact Chris Hugall Tel: +44 20 7978 0084 Email: chugall@thecwcgroup.com www.cwckuwait.com

2nd Med Ports 2014 Container Ports and Terminal Operations Exhibition and Conference 23-24 April 2014 Kenzi Farah Hotel, Marrakech, Morocco Contact Transport Events Management Limited Malaysia Tel: +60 87 426 022 Fax: +60 87 426 223 Email: enquiries@transportevents.com www.transportevents.com Somalia Oil & Gas Summit 9 June 2014 London Chris Hugall Tel: +44 20 7978 0084 Email: chugall@thecwcgroup.com http://www.somalia-oil-gas.com/ contact-us/ Project Qatar The 10th international trade exhibition for construction technology, building materials, equipment & environmental technology for Qatar Doha Exhibition Centre, Qatar 29 April-1 May 2014 Contact IFP Qatar Tel: +974 44329900 Fax: +974 44432891 Email: info@ifpqatar.com Energy Qatar International Electrical Engineering, Power Generation & Distribution Exhibition 6-9 May 2014 Doha Exhibition Centre, Qatar Contact IFP Qatar Tel: +974 44329900 Fax: +974 44432891 Email: info@ifpqatar.com Saudi Energy 16th international trade exhibition for electricity power generation Riyadh International Convention and Exhibition Centre, Riyadh, Saudi Arabia 26-29 May 2014 Contact Riyadh Exhibitions Company (REC) Tel: +966 11 229 5604 Fax: +966 11 229 5612 Email: info@recexpo.com http://www.saudi-energy.com Iraq Agrofood 6th International Exhibition for Agriculture, Food Processing and Packaging 18-21 November 2014 Erbil International Trade Fair, Erbil, Iraq Contact IFP Iraq Tel: +964 66 2567634 Fax: +44 20 71066688 Email: agrofood@ifpiraq.com