Qatar property rental prices stable
RENTAL rates in Qatar have remained stable over the second quarter of this year, particularly in apartment rental areas such as Al Sadd and The Pearl-Qatar, with average two-bedroom apartment monthly rental rates of QR6,250 ($1,716) and QR13,000 respectively showing no movement from the first quarter.
According to the latest Asteco quarterly report, it found overall averages for monthly apartment rental rates in Qatar ranged from QR4,000 ($1,716) to QR14,000 for two-bedroom properties showing little change from first quarter.
The report also highlighted the strong upside for Qatar’s property market.
Atlas Copco division renamed
ATLAS Copco’s Portable Air Division has changed its name to the Portable Energy Division, a name which more accurately reflects the division’s extended product portfolio.
The new division focuses on five pillars, each one relating to a product group: air (on-site compressors), power (on-site generators), light (on-site light towers), water (on-site pumps), and used equipment.
Geert Follens, president, Portable Energy Division, said: “Changing the name of the division to Portable Energy is a logical step in light of the extension of our product range to our customers.”
Ritchie Bros boosts services
RITCHIE Bros Auctioneers, the world’s largest industrial auctioneer, has launched a bundle of new valued-added services for its customers in Europe, the US, Canada and around the world.
The services, including detailed equipment information, real-time auction results through www.rbauction.com, property and cargo insurance, equipment financing, and powertrain service warranties, will complement and further enhance the wide range of customer services already offered by the company, like comfortable first-class auction facilities, flexible bidding options, convenient on-site refurbishing services and a 21-language web site.
L&T wins its largest GCC deal
LARSEN & Toubro Limited (L&T), India’s largest engineering and construction conglomerate, has won a $273 million order from Qatar General Electricity and Water Corporation for the supply and construction of 13 extra-high-voltage (EHV) substations in Qatar. It is the single largest order for L&T’s power transmission and distribution (PT&D) operations in a GCC country. The project will be completed in 18 to 26 months and includes 220 kV, 132 kV and 66 kV gas insulated switchgear, associated cabling including external EHV cable diversion works, power transformers, 11 kV air-insulated switchgear, protection and substation automation system including DC system and auxiliaries.
Danube debuts in Qatar market
DANUBE Building Materials has opened its first showroom in Qatar in association with Dyarco, marking the company’s first venture into Qatar, and its 29th showroom in the Middle East, reflecting the company's strategy of strengthening its market presence in the region.
The new Dh50-million ($13.6 million) facility covering 100,000 sq ft comprises a showroom and adjoining warehouse, conveniently located in the heart of Qatar’s industrial area.
Rizwan Sajan, founder and chairman of Danube Building Materials, commented: “The announcement of Qatar named as the host for the Fifa World Cup 2022 has created an influx of construction and infrastructure projects amounting to over Dh367 billion ($100 billion) over the next 12 years. Danube is looking to play a major role in this development by leveraging its wide portfolio of building materials and other construction essentials across these projects.”
The Qatar showroom will offer key products like wood, steel, sanitary hardware, ceiling, plywood and structural steel.
RSS installs rental power in Oman
RENTAL Solutions & Services (RSS), a global provider of rental power, temporary cooling and mobile water solutions, has successfully installed 80 MVA of rental power in Oman.
RSS has been selected by two power generation authorities in Oman to design, build and manage temporary power packages in four different locations in the country – Ja’laan Bani Bu Ali grid station, Al Mulladah intersection station, Dibba and Ghundham.
The 80 MVA temporary power will support the Oman’s power grid during the summer when demand is high. In general, most GCC countries experience seasonal power shortages during summer months where demand is high.
Summer work ban ‘paying off’
BAHRAIN’S summer work ban has helped improve productivity, despite fears the law would hit profits.
Businessmen earlier complained the two-month ban on work between midday and 4 pm during July and August would cost them hundreds of thousands of dinars.
Labour Minister Jameel Humaidan said several employers had indicated productivity increased after the rule was introduced.
The minister said in almost three weeks since this year’s ban had come into effect a compliance rate of nearly 100 per cent had been reported.
All outside work must stop from noon to 4pm throughout July and August, the hottest months of the year. Companies violating the law are liable to be fined up to BD300 ($796) per worker.
New Jotun product in Egypt
JOTUN Paints, a world-leading producer and supplier of paints and coatings, is aiming to strengthen its market presence in Egypt with the introduction of its revolutionary ‘Green Single Source Solution’ concept across the country’s increasing number of construction and development projects.
The ‘Green Single Source Solution’ is part of Jotun’s strategic initiative to adopt a holistic approach to high-quality and cost-effective paints to reduce the impact on health and environment.
The company believes that paints and coatings to be used in these current and future crops of projects should leave less carbon footprint.
Furthermore, Jotun has been making efforts to restore and renovate historical Egyptian landmarks. The company has been supplying essential materials like paints, tools and clothes to various civic groups involved in the restoration and renovation initiatives.
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Sakana Busaiteen Phase One ready
BAHRAIN-based Sakana Holistic Housing Solutions, the Islamic mortgage finance provider, has announced that Phase One of Sakana Busaiteen housing project comprising five three-storey buildings is completed. The project in total consists of 10 three-storey buildings.
Sakana Busaiteen has been built considering contemporary family needs and requirements. Customers have the option of either purchasing an entire building or individual apartments. Sakana has partnered with several leading home furniture and appliance suppliers and interior decorators to furnish a mock-up building and customers will be offered three distinct choices at competitive prices.
Saudi Arabia to link industrial areas
SAUDI Arabia has started seeking pre-qualification bids for a railway linking Jubail Industrial City with Ras Alkhair. The winner is likely to be announced as early as next year.
King Abdullah, Custodian of the Two Holy Mosques, has ordered the linking of the new Hazm Al Jalameed-Ras Alkhair rail with Dammam through Jubail Industrial City. The 1,392-km railway line between Hazm Al Jalameed in the Northern Border Province, where phosphate mines are situated, and the industrial centre of Ras Alkhair (Eastern Province) was opened in May. The railway also passes through the mining areas in the provinces of Jouf, Hail and Qassim. Saudi Arabia also plans to link Riyadh with Haditha, on the border with Jordan, with the construction of another line.
Atkins wins Mideast US army deal
ATKINS has been awarded a five-year design-build contract under the US Army Corps of Engineers’ Middle East District (USACE-MED).
As the designer of record, Atkins will provide architecture and engineering support services for all construction and design-build tasks awarded to team leader Innovative Technical Solutions Inc (ITSI) of the US.
Under this contract, projects will be carried out in support of the US military’s central command region (Centcom), which covers 20 countries including Afghanistan, Bahrain, Egypt, Iran, Iraq, Jordan, Kazakhstan, Kuwait, Kyrgyzstan, Lebanon, Oman, Pakistan, Qatar, Saudi Arabia, Syria, Tajikistan, Turkmenistan, the UAE, Uzbekistan, and Yemen.
RWI makes further Qatar inroads
RUBBER World Industries (RWI), the leading manufacturer of closed cell rubber insulation ‘Gulf-O-Flex’ in the Gulf and South East Asia, has secured two major contracts in Qatar for Al Khor Mall and the Barwa Al Khor real estate development project. Under the terms of the contracts, RWI will supply its world-class rubber insulation and adhesives products estimated at around $11,000 per project.
The $54.93-million Al Khor Mall is a commercial shopping mall construction project that stretches out over 94,000 sq m, while Barwa Al Khor is a $8.2 billion real estate development project that covers 5.5 million sq m.
BASF to build major CSB facility
BASF will significantly expand its presence in the Middle East by building a state-of-the-art plant for customer specific antioxidant blends (CSB) at the Bahrain International Investment Park.
Construction of the new facility starts in September. It will become one of the worldwide largest CSB plants with an annual capacity of about 16,000 tonnes. The new plant will be operational by the end of 2012.
This is a major investment of BASF in the plastic additives business following its acquisition of Ciba in 2009.
BASF is a global chemical company with a portfolio ranging from chemicals, plastics, performance and agricultural products to oil and gas.
Olayan buys stake in Saudi Elevator
HAVING acquired a minority stake of 10 per cent in Saudi Elevator Company from Schindler, Olayan Financing Company (OFC) will be renamed ‘Schindler Olayan Elevator Company Limited. Both partners will be represented equally on the board of directors.
In 2010, Schindler became the sole owner of Saudi Elevator, acquiring 80 per cent of the shares to add to the 20 per cent that it already owned. The acquisition strengthened the position of the Schindler Group in the Gulf region’s largest market.
