Billionaires Of The Middle East - Arab Billionaire List

In this post I will cover the richest people in the Middle East, the Billionaires. These are the movers and shakers of the region and many of them are either directly or indirectly involved in the Mega Project real estate developments of the UAE and the entire MENA Region. Two very reliable sources were used for gathering the information in this post, ArabianBusiness.com and Forbes.com. You should note that the net worth of the Billionaires is always changing due to the ever changing economic climate of the world so the net worth given for each Billionaire is an estimate only. Also remember that there are still Billionaires in the Middle East that have not as yet been discovered. 


SAUDI ARABIA:

Prince Alwaleed bin Talal Al Saud, $21.3 Bil

King Abdullah bin Abdulaziz Al Saud, $18 Bil

Mohamed Al Jaber, $12.75 Bil

Olayan Family, $12.4 Bil

Issam Alzahid, $10.7 Bil

Mohammed Al Amoudi, $10.4 Bil

Bin Ladin Family, $7.25 Bil

Bugshan Family, $7 Bil

Al Juffali Family, $6.2 Bil

Tareq Abdullah Al Qahtani, $6.1 Bil

Sulaiman Al Rajhi, $5.95 Bil

Mohamed Abdul Latif Jameel, $5.3 Bil

Mubarak Al Suwaiket, $5 Bil

Naghi Family, $5 Bil

Abdullah Al Rushaid, $4.6 Bil

Mohammed Sharbatly, $4 Bil

Mohammad Jamjoom, $3.8 Bil

Abdullatif Al Fozan, $3.45 Bil

Abdullah Al Othaim, $3.35 Bil

Ahmed Baeshen, $3.3 Bil

Adel Aujan, $3.25 Bil

Saedan Family, $3.10 Bil

Abdulaziz Al Sulaiman, $3 Bil

Hussein Gazzaz, $2.8 Bil

Osama Abudawood, $2.75 Bil

Mohammed Elkhereiji, $2.6 Bil

Mansour Ojjey, $2.6 Bil

Al Zamil Family, $2.4 Bil



KUWAIT:

Bukhamseen Family, $7.25 Bil

Faisal Al Ayyar, $3.25 Bil

Bassam Alghanim, $1.6 Bil

Kutayba Alghanim, $1.6 Bil

Fawzi Al-Kharafi, $1.2 Bil

Jassim Al-Kharafi, $1.2 Bil

Mohannad Al-Kharafi, $1.2 Bil



EGYPT:

Nassef Sawiris, $5.1 Bil

Naguib Sawiris, $3.1 Bil

Onsi Sawiris, $2.9 Bil

Mohammed Shafik Gabr, $2 Bil

Mohamed Mansour, $1.7 Bil

Yasseen Mansour, $1.6 Bil

Youssef Mansour, $1.5 Bil

Mohamed Al Fayed, $1.3 Bil



UAE:

Sheikh Khailfa bin Zayed Al Nahayan, $15 Bil

Abdulaziz Al Ghurair, $6.1 Bil

Majid Al Futtaim, $5.8 Bil

Abdullah Al Futtaim, $5.2 Bil

Sheikh Mohammed bin Rashid Al Maktoum, $4.5 Bil

Gargash Family, $3.9 Bil

Saif Al Ghurair, $2 Bil



LEBANON:

Saad Hariri, $3.8 Bil

Bahaa Hariri, $3.35 Bil

Ayman Hariri, $3.15 Bil

Najib Mikati, $3Bil

Taha Mikati, $3Bil

Fahd Hariri, $1.4 Bil



QATAR:

Omar Hamad Almana, $4.5 Bil

Alfardan Family, $3.42 Bil

Al Darwish Family, $2.55 Bil

Sheikh Hamad bin Khalifa Al Thani, $2.4 Bil



PALESTINE:

Said Khoury, $6.5 Bil

Mohammad Abu Ghazaleh, $2.4 Bil



BAHRAIN:

Kanoo Family, $6 Bil



JORDAN:

Shoman Family, $4.2 Bil



SYRIA:

Wafic Said, $2.7 Bil



++ OTHERS WHO PROBABLY BELONG ON THE LIST:

Al Sabah Family / Kuwait / estimate range: $350 Mil - $100 Bil

Al Habtoor Family / UAE / estimate range: $1.3 Bil - $2 Bil

Khashoggi Family / Saudi Arabia / estimate range: $500 Mil - $1.3 Bil

Sultan Qaboos bin Said / Oman / estimate range: $700 Mil - $1 Bil

~ Note that the estimates for the above 4 come from a variety of sources and I don't know how accurate they are. For example, the Al Sabah Family of Kuwait has a huge range of between $350 Mil and some sources say their wealth is as high as $90-$100 Bil.


++ IRAN AND IRAQ:

I could find no evidence of there being any Billionaires in Iran or Iraq, but of course there could be some whose wealth is hidden. There are however a number of expat Iranian and Iraqi Billionaires including Nasser Khalili(Iran) and Nadhmi Auchi(Iraq).


++ CARLOS SLIM HELU:

Currently he is the richest man in the world with an estimated net worth of $73 Bil. Both of Mr. Helu's parents are Lebanese however Mr. Helu was born in Mexico, not Lebanon. Therefore he is not considered a Billionaire of the Middle East.

Cityscape Qatar 2012

Qatar is booming with Mega Project real estate development! Qatar has so much going on in the real estate industry right now that Cityscape, developer of the largest real estate events in the region, created a real estate event specifically for Qatar: Cityscape Qatar 2012 which took place last month on May 23-25. It was a groundbreaking event for Qatar and what follows are some excerpts from press releases given at the event which will give you a better idea of what exactly went on:

'The exhibition featured more than 100 companies, including some of the biggest Qatari developers and investors along with other industry leaders, such as Barwa Group, Ezdan Real Estate, Al Wa’ab City, the United Development Company, Al Khaliji bank and Commercial Bank. Cityscape Qatar also welcomed major regional and international project management specialists and service providers. The exhibition was visited by more than 7,000 visitors over the three days.

'The inaugural Qatar Real Estate Summit, taking place alongside the exhibition, was a phenomenal success, attended by more than 250 delegates. The conference hosted insightful discussions from industry leaders about the strategies that will ensure Qatar’s successful growth under the 2030 Vision.

'High visitor numbers were complimented by strong international media attendance. Barwa Real Estate Group showcased a major announcement, inaugurating their latest community-oriented residential property, the Lusail Golf Residential Development. The project will cover an area measuring 3,659,736 square meters. Thirty-one per cent of the Lusail Golf Residential Development is allocated to residential areas and 69% to sports facilities and green areas, including a Greg Norman designed golf course.

'Ezdan Real Estate Company unveiled three unique new projects. Ezdan City in the al Wakair area will be built on an area of 964,422 square meters and includes a full service-integral city containing 200 residential buildings, as well as other services and facilities, including schools, malls, and sport clubs. Ezdan will also develop a top end Boutique Hotel on a 10,000 square meter site in the al Ghrafa area; and a new commercial market in al Wakair, built on a land area of 24,679 square meters, and with building space of 25,126 square meters.

'Reflecting on the success of both the exhibition and the Summit, Rohan Marwaha, Managing Director for Cityscape Group at Informa, said: “The opportunities in Qatar for everyone connected with the real estate business are limitless and exhibitors have told us their experience here has been excellent. For those based in Doha, and for those coming to see it for the first time, everyone has gained incredibly useful insight into how Qatar is growing and the relationships made at Cityscape Qatar will truly help to shape the future development of this country under its 2030 Vision,” he said.'

What follows is a partial list of the high level exhibitors that attended the event:

~ Al Khalij Commercial Bank

~ Al Waab City

~ Amar City Real Estate Properties

~ Arab Engineering Bureau

~ Barwa Real Estate Company

~ Bawabat Al Shamal Real Estate Company

~ CKR Consulting Engineers

~ Commercial Bank of Qatar

~ Dewan Architects & Engineers

~ Dlala Real Estate Co

~ Ezdan Real Estate Qatar

~ First Qatar Real Estate Development Company

~ Forbes Middle East Magazine

~ KEO International Consultants

~ Kings Land Global

~ LW Design Group LLC

~ MAF Investment Holding

~ Mazaya Qatar Real Estate Development

~ Mirage International Property Consultant

~ P&T Architects and Engineers

~ Qatar Coral For Real Estate Development

~ Qatar National Bank

~ RSP Architects Planners & Engineers

~ S.S.Lootah Group

~ TIME Qatar

~ Top Real Estate Group

~ United Development Company

~ Zawya
 
Cityscape Qatar link:
http://www.cityscapeqatar.com/

The Mega Talls-- 50 Tallest Skyscrapers of the MENA Region

Some of the most impressive and spectacular Mega Projects of the UAE/GCC/MENA Region are the incredible Mega Tall skyscrapers. These skyscrapers are monuments to the growth and expansion of the Middle East. What follows are the 50 tallest skyscrapers of the MENA Region. The heights of each building are given in both meters (m) and feet (ft) followed by the number of floors and the completion date of the skyscraper. The UAE is by far the skyscraper leader, with most of the skyscrapers located in Dubai.

1. Burj Khalifa Dubai (UAE) 828 m 2717 ft 163 floors 2010

2. Al Hamra Firdous Tower Kuwait City (Kuwait) 413 m 1354 ft 80 floors 2011

3. 23 Marina Dubai (UAE) 393 m 1289 ft 90 floors 2012

4. Almas Tower Dubai (UAE) 360 m 1181 ft 68 floors 2008

5. Emirates Tower One Dubai (UAE) 355 m 1163 ft 54 floors 2000

6. The Torch Dubai (UAE) 337 m 1105 ft 79 floors 2011

7. Rose Rayhaan by Rotana Dubai (UAE) 333 m 1093 ft 71 floors 2007

8. The Index Dubai (UAE) 326 m 1070 ft 80 floors 2010

9. Burj Al Arab Hotel Dubai (UAE) 321 m 1053 ft 60 floors 1999

10. HHHR Tower Dubai (UAE) 318 m 1042 ft 72 floors 2010

11. Ocean Heights Dubai (UAE) 310 m 1017 ft 83 floors 2010

12. Emirates Tower Two Dubai (UAE) 309 m 1014 ft 56 floors 2000

13. Etihad Towers T2 Abu Dhabi (UAE) 305 m 1002 ft 80 floors 2011

14. Kingdom Centre Riyadh (Saudi Arabia) 302 m 992 ft 41 floors 2002

15. The Address Dubai (UAE) 302 m 991 ft 63 floors 2008

16. Arraya Tower Kuwait City (Kuwait) 300 m 984 ft 60 floors 2009

17. Aspire Tower Doha (Qatar) 300 m 984 ft 36 floors 2007

18. Emirates Crown Dubai (UAE) 296 m 971 ft 63 floors 2008

19. Khalid Al Attar Tower 2 Dubai (UAE) 294 m 965 ft 66 floors 2011

20. Sky Tower Abu Dhabi (UAE) 292 m 959 ft 74 floors 2010

21. Millennium Tower Dubai (UAE) 285 m 935 ft 59 floors 2006

22. Sulafa Tower Dubai (UAE) 285 m 935 ft 75 floors 2010

23. Marina Pinnacle Dubai (UAE) 280 m 919 ft 73 floors 2011

24. Etihad Towers T1 Abu Dhabi (UAE) 278 m 911 ft 69 floors 2011

25. Hotel JAL Tower Dubai (UAE) 269 m 883 ft 60 floors 2010

26. 21st Century Tower Dubai (UAE) 269 m 883 ft 55 floors 2003

27. Al Faisaliah Center Riyadh (Saudi Arabia) 267m 876 ft 30 floors 2000

28. Al Kazim Tower 1 Dubai (UAE) 265 m 869 ft 53 floors 2008

29. Al Kazim Tower 2 Dubai (UAE) 265 m 869 ft 53 floors 2008

30. U-Bora Tower 1 Dubai (UAE) 263 m 862 ft 58 floors 2011

31. Etihad Towers T3 Abu Dhabi (UAE) 260 m 854 ft 60 floors 2011

32. Vision Tower Dubai (UAE) 260 m 853 ft 60 floors 2011

33. Dual Towers 1 Manama (Bahrain) 260 m 853 ft 53 floors 2007

34. Dual Towers 2 Manama (Bahrain) 260 m 853 ft 53 floors 2007

35. Al Marsa Tower Dubai (UAE) 254 m 833 ft 63 floors 2007

36. Al Fardan Residences Doha (Qatar) 253 m 831 ft 64 floors 2009

37. Chelsea Tower Dubai (UAE) 250 m 820 ft 49 floors 2005

38. Rolex Tower Dubai (UAE) 247 m 810 ft 59 floors 2010

39. Al Fattan Tower Dubai (UAE) 245 m 804 ft 51 floors 2006

40. Oasis Beach Tower Dubai (UAE) 245 m 804 ft 51floors 2006

41. Palm Tower 1 Doha (Qatar) 244 m 802 ft 58 floors 2011

42. Palm Tower 2 Doha (Qatar) 244 m 802 ft 57 floors 2011

43. Arenco Tower Dubai (UAE) 244 m 800 ft 46 floors 2008

44. The Tower Dubai (UAE) 243 m 796 ft 54 floors 2002

45. United Tower Kuwait City (Kuwait) 240 m 787 ft 60 floors 2011

46. Bahrain World Trade Center 1 Manama (Bahrain) 240 m 787 ft 45 floors 2008

47. Bahrain World Trade Center 2 Manama (Bahrain) 240 m 787 ft 45 floors 2008

48. Sun Tower Abu Dhabi (UAE) 238 m 779 ft 64 floors 2010

49. Burj Qatar Doha (Qatar) 236 m 773 ft 46 floors 2011

50. Churchill Residence Dubai (UAE) 235 m 771 ft 61 floors 2010

Dubai Is Coming Back!

I think the worst has passed for Dubai. I think the downtrend in the real estate market is finally over and we are at the beginning of a new five to ten year upward cycle. I am seeing more and more interest and investment in Dubai real estate. Mega Projects which had been put on hold are being started up again and new Mega Projects are being announced, the most recent being the underwater Discus Hotel.

What I will give you now are excerpts of recent articles relating to the positive direction of the Dubai real estate sector. Each excerpt has a link to the complete article which you can read at your leisure.

> DPG PLANS TO GO AHEAD WITH ALL MEGA PROJECTS

Khaleej Times:

Signaling the beginning of Dubai's property sector's long awaited revival, a leading master developer said on Tuesday that it would go ahead with all its mega projects that have been stalled or delayed amid the financial meltdown.

Dubai Properties Group, or DPG, a pioneering community developer, said it would complete all projects it had announced as it saw a reemergence of investor confidence restoring vibrancy in the property market.

http://www.khaleejtimes.com/biz/inside.asp?xfile=/data/uaebusiness/2012/May/uaebusiness_May47.xml&section=uaebusiness

> 291 PROJECTS ON HOLD LIKELY TO QUALIFY FOR RESTART

Emirates 24/7:

A total of 291 projects are on hold in Dubai as of March 31, 2012 – but are likely to see the light of day.

Each of these 291 registered projects are likely to qualify for either the Tayseer or the Tanmia initiative, the Dubai Land Department (DLD) has stated in the planned sovereign bond prospectus.

This year, as per the prospectus, the Tanmia initiative is expected to include 33 projects, two of which have been launched. The initiative is designed to increase investor confidence in those projects, which the Dubai Land Department has identified as qualifying for the Tanmia program.

http://www.emirates247.com/property/real-estate/291-projects-on-hold-likely-to-qualify-for-restart-2012-04-26-1.455779

> THE REAL ESTATE BOOM IS BACK TO DUBAI

Dubai Chronicle:

Nakheel sold 21 townhouses for a total of Dh159 million in Palma Residences, Palm Jumeirah, on the first day of sales opening.

"We were just expecting people to come and gather information, but we managed to sell properties on day one itself," commented Nakheel's Chairman Ali Rashid Lootah.

http://www.dubaichronicle.com/2012/04/03/real-estate-boom-dubai/

> DUBAI'S EMAAR POSTS 44% RISE IN Q1 PROFIT

ArabianBusiness.com:

Dubai's Emaar Properties, builder of the world's tallest tower, reported a 44 percent rise in first-quarter net operating profit on Saturday on increased property sales in Dubai and strong revenue from shopping malls business.

The UAE's largest developer by market value made a net operating profit of AED606m ($165m), compared to AED421m during the same period last year, it said in an emailed statement.

http://www.arabianbusiness.com/dubai-s-emaar-posts-44-rise-in-q1-profit-455631.html

> NAKHEEL SCOOPS US$23.6M FROM PALM LAND SALE

ArabianBusiness.com:

Dubai’s Nakheel has sold a 60,000 sq ft plot of land on its flagship development, the Palm Jumeirah, for AED87m (US$23.6m), the firm said Tuesday.

The sale of the land, opposite the Atlantis, The Palm hotel, is a sign of “renewed investor confidence in Dubai real estate,” the government-owned developer said in a statement.

“We have seen a very healthy demand in the first quarter of 2012, and this looks set to continue for the year,” a Nakheel spokesperson said.

http://www.arabianbusiness.com/nakheel-scoops-us-23-6m-from-palm-land-sale-454315.html

> LET'S FORGET ABOUT 2008, URGES NAKHEEL CHAIRMAN

ArabianBusiness.com:

“We (Nakheel) achieved profit of AED1.28bn (US$348.5m)… It has been a good year. We have been doing fantastic across the board, across all of our areas… It is a big sign of the recovery of the market,” he says.

“We see the demand for our properties increase and I can also assure you that 2012, from the early figures we have, is going to be even much better.”

That is partly because, according to Lootah himself, Nakheel has managed to slash contractors’ claims down to just fifteen percent. Within a few short years, Lootah has turned the company around and brought it through a painful restructuring process.

http://www.arabianbusiness.com/-let-s-forget-about-2008-urges-nakheel-chairman-455513.html

> DUBAI DEAL ON UNDERWATER HOTELS AND FLOATING CITIES

Chicago Tribune:

Dubai is all set to open newer horizons in the tourism and hospitality sector with a novel initiative to develop underwater hotels.

Drydocks World, the shipbuilding arm of Dubai World, said on Wednesday it has signed a deal with Big Invest Consult, a Swiss company, to develop underwater hotels and floating cities.

The hotel, featuring a discus-shaped residential underwater building connected to another discus above water, will be funded by BIG Invest. The project envisages "an ultimate leisure facility with a structure that is partly above water and the rest underneath -- a residential Underwater Discus with an Above Water Discus", the company said.

http://www.chicagotribune.com/news/sns-mct-dubai-deal-on-underwater-hotels-and-floating-20120503,0,938001.story

> PALM JUMEIRAH FROND N PROJECT

ArabianBusiness.com:

One of the latest developments at Palm Jumeirah is master developer Nakheel issuing a tender for infrastructure works on Frond ‘N’. It has invited suitably-qualified contractors, licensed by Dubai’s Department of Economic Development, to bid for Tender No. N-006-4-60.

The project comprises: roads, parking, driveways and sidewalks; street lighting, stormwater drainage network; vacuum sewerage; ancillary control and monitoring system; irrigation water system and fire hydrants; utility road crossings: potable water system, electrical network; telecoms network and LPG gas house connections. The closing date for bids from interested contractors is 4 March.

http://www.arabianbusiness.com/palm-jumeirah-frond-n-project-445719.html

++ I predict that over the next five years we will see a new real estate boom emerge in Dubai and that Dubai will once again be one of the most appealing locations in the world for real estate investment and development. Time will tell if I am correct or not.

Cityscape Abu Dhabi 2012

Cityscape Abu Dhabi is one of the world's largest real estate events. It attracts the Mega Project developers giving them a chance to show their incredible projects to the entire world. In addition to the developers Cityscape Abu Dhabi attracts investors, architects, construction companies, the media and many others. According to Cityscape:

'Cityscape Abu Dhabi is the only annual meeting point for governmental authorities, key investors and developers, consultants, architects, designers and other real estate professionals to drive growth in Abu Dhabi’s real estate market.

'Cityscape Abu Dhabi 2012 is where the future of Abu Dhabi’s master plan and key developments are being revealed. With over 25,000 participants in attendance, Cityscape Abu Dhabi is the opportunity to build and maintain your presence in Abu Dhabi’s real estate market.'

Yesterday was the final day of Cityscape Abu Dhabi 2012 and here are some excerpts from a press release given by Cityscape which will give you a better idea of what went on there:

'Several major UAE based developers showcased their key developments to visiting investors and partners from more than 80 countries. Among them, Sorouh Real Estate launched its retail property brand Boutik, aimed at enhancing the lifestyle experience at some of its major developments. The Abu Dhabi based developer will open its first Boutik branded space in Sun and Sky Towers on Al Reem Island in June this year, hosting the first ever Waitrose supermarket in the UAE capital. In the second half of the year, Sorouh will also open the grade A shopping mall, Boutik Al Ain, home to a Carrefour hypermarket.

'Gurjit Singh, Chief Operations Officer at Sorouh said: “Cityscape Abu Dhabi continues to be the most important real estate exhibition in the MENA region, and we continue to support this annual gathering to demonstrate our commitment to Plan Abu Dhabi 2030 and the long-term vision for the economic development of the emirate.”

'Baniyas Investment and Development Company (BIDC) showcased its award winning development, Bawabat Al Sharq project, in Bani Yas city. The investment and development arm of the Bani Yas Club had a busy year in 2011, when they launched the luxurious Andalucian style villas on Bawabat Al Sharq. The distinct three, four, and five bedroom villas were the focal point of BIDC’s exhibition stand at Cityscape Abu Dhabi this year, and will begin to be handed over to owners by the end of 2013.

“Cityscape Abu Dhabi is the most important real estate show in Abu Dhabi, providing a unique platform to learn of the latest market updates of the regional real estate industry,” said Wael El Ashry, Commercial Vice President at Baniyas Investment and Development Company.

'Under the patronage of H.H General Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, Cityscape Abu Dhabi is the annual barometer for the Abu Dhabi and wider GCC real estate market, where thousands of investors gather to learn about the latest market trends and updates of many of Abu Dhabi’s master developments.

'Other major developers taking part this year at Cityscape Abu Dhabi included the Urban Planning Council, Department of Municipal Affairs, Tamouh Investments, Meraas, Aldar Properties, Aabar Properties, Mubadala, Al Maabar, Eshraq Properties, Bloom Properties, Reem Investments, and the Tourism Development & Investment Company.'

Now I want to give you a good idea of the full scope of Cityscape Abu Dhabi 2012. What follows are some of the high level exhibitors at the event:

-- Aabar Properties LLC United Arab Emirates

-- Abu Dhabi Commercial Properties LLC United Arab Emirates

-- Abu Dhabi Urban Planning Council United Arab Emirates

-- Aldar Properties PJSC United Arab Emirates

-- Allabina LCE architects United Kingdom

-- Al Maabar United Arab Emirates

-- Al Torath Engineering Consultants United Arab Emirates

-- Arabtec Eastern Model United Arab Emirates

-- Aseel Finance United Arab Emirates

-- Baniyas Investment & Development United Arab Emirates

-- Bloom Properties United Arab Emirates

-- Buettner Architects & Engineers United Arab Emirates

-- BuildUp SA – Real Estate Development And Investment Greece

-- Capital Alternatives Limited United Arab Emirates

-- Dewan Architects & Engineers United Arab Emirates

-- Dewa Projects Private Limited United Arab Emirates

-- Dhafir Development & Contracting LLC United Arab Emirates

-- Ehaf Consulting Engineers United Arab Emirates

-- Ehrlich Architects United States of America

-- Elysian Investments United Arab Emirates

-- Eshraq Properties Co (PJSC) United Arab Emirates

-- Fargain Developments United Kingdom

-- Forbes Middle East United Arab Emirates

-- Green Valley Real Estate United Arab Emirates

-- Gulf Property United Arab Emirates

-- Herald Land Real Estate Brokers LLC United Arab Emirates

-- International Capital Trading United Arab Emirates

-- KEO International Consultants United Arab Emirates

-- Kling Engineering Consultant LLC United Arab Emirates

-- Manazel Real Estate United Arab Emirates

-- Meraas Development United Arab Emirates

-- Mubadala Real Estate & Hospitality (MREH) United Arab Emirates

-- NAGA Architects, Designers & Planners United Arab Emirates

-- Nationwide Middle East Properties United Arab Emirates

-- Paragon Malls United Arab Emirates

-- Pioneer International Projects Management United Arab Emirates

-- Reem Investments United Arab Emirates

-- Sheikh Zayed Housing Programme United Arab Emirates

-- Smart Solutions Consulting Engineers (SSCE) United Arab Emirates

-- Sorouh Real Estate P.J.S.C United Arab Emirates

-- Stanly for Investment and Real Estate Development Egypt

-- Tamouh Investments United Arab Emirates

-- Three60 Estates Management United Arab Emirates

-- Tourism Development & Investment Company (TDIC) United Arab Emirates

-- Turner Construction - International LLC United Arab Emirates

-- Ventures Middle East United Arab Emirates

-- Wafra Real Estate Kuwait

As you can see Cityscape Abu Dhabi 2012 was a truly first class event and one that could not be missed by those involved in the Mega Project industry. Here is a link to the Cityscape Abu Dhabi website where you can take an even closer look at all that went on there:

 http://www.cityscapeabudhabi.com/

The Mega Developers: ENSHAA

In this Mega Developer post I will cover ENSHAA, a leading developer in the UAE. ENSHAA has a number of first class projects in their portfolio and the company is doing a great job developing projects of the highest quality and design.

~ ENSHAA CORPORATE PROFILE:

Inspired by a vision to contribute to the sustainable development of the United Arab Emirates and the surrounding regions, ENSHAA was established to develop premium quality commercial, residential and hospitality projects. The firm's major shareholders include Emirates Investments Group, Majid Al Futtaim Group and Abraaj Capital.

ENSHAA currently operates in the Middle East, North Africa, South Asia and Australia through an expanding portfolio of carefully conceived projects. The company has formed a number of successful joint venture partnerships with prestigious local and foreign companies. ENSHAA's portfolio includes Palazzo Versace Dubai, D1 residential tower and Emirates Financial Towers. ENSHAA is a major shareholder of Dubai based Kele Contracting LLC, in partnership with Australian affiliate Kele International Holdings. ENSHAA's acquisition of Signature Clubs International in November 2009 highlights its strategic focus on quality branded products and further expansion into the hospitality industry.

~ CHAIRMAN'S MESSAGE:

Much has happened in the region in the past couple of years. Certain sectors have been hit hard by the global economic downturn, while some have prospered as a result. What we can see now, however, is a real resurgence. Dubai's largest firms - the ones with the governance and strategic planning in place to have weathered the crisis - are rebounding strongly, pushing the market in a positive direction. And beyond the UAE, regional successes are buttressing the reputation of the region: the awarding of the 2022 World Cup to Qatar, and the countless extraordinary Saudi infrastructure projects are all combining to keep our region at the forefront of overseas investors' minds.

There will be good times ahead and - as everywhere - some bad ones too. Key to thriving is having the people and practices in place to be able to function in the hard times as well as the easy. We are confident that the past year has been well used, with a prudent and patient approach which will - literally as well as figuratively "pay dividends".

As we enter the next exciting period of growth, ENSHAA is confident of being exceptionally well placed to capitalize on opportunities, and to show that this region and ENSHAA are capable of anything.

- Sheikh Tariq Bin Faisal Al Qassimi, Chairman

~ THE ENSHAA REAL ESTATE PROJECTS:

> EMIRATES FINANCIAL TOWERS. This development is a 27-story commercial twin tower development, located in the heart of the Dubai International Financial Centre (DIFC) featuring premium office and retail spaces, restaurants and business meeting venues. The Emirates Financial Towers with world class facilities also boasts views of the Emirates Towers and the Burj Khalifa. With the largest automated intelligent car parking system in the world, a distinct glass sky-bridge, high speed elevators and within close proximity to the metro, the Emirates Financial Towers is a prestigious business destination as well as a valuable addition to the already impressive Dubai skyline. Office units range in size from just over 6,00 sq. ft. to just under 10,000 sq. ft. (net) with flexible design, offering shared facilities and provisions for private office amenities. Emirates Financial Towers is a joint venture project between ENSHAA and MAG Group.

> PALAZZO VERSACE DUBAI. The Palazzo Versace Dubai Resort and Condominiums is a landmark project and will be located within Culture Village on the Dubai Creek, a premium waterfront location with unobstructed views of the creek. The residential wings of Ala Destra and Ala Sinistra will offer 169 luxury condominiums ranging from one to six bedrooms with access to the hotel's services. The hotel will comprise a day spa, restaurants and 217 hotel suites furnished with an exclusive line of products from the Versace Home Collection. Palazzo Versace takes the beauty, the luxury and the opulence for which the Versace name is famous and envelopes residents and guests in an ambience that is pure Versace. A project fully owned and developed by ENSHAA.

> D1 TOWER. D1's dramatic design fuses rich Middle Eastern heritage with today's technology, quality and modernity. A stunning 80-story tower, D1 offers exclusive residents' facilities, including a Skyrise lounge, private cinema, indoor pool, gymnasium and concierge services. D1 is uniquely positioned adjacent to the majestic Palazzo Versace Dubai. D1 Tower is a project fully owned and developed by ENSHAA.

~ THE ENSHAA MANAGEMENT TEAM:

-- Sheikh Tariq Bin Faisal Al Qassimi, Chairman

-- Raza Jafar, Chief Executive Officer

-- Gerard Carroll, Chief Operating Officer

-- Brian Woodside, Chief Financial Officer

-- Colin Seow, Chief Development Officer

-- Eli Hyder, Chief Legal Officer

-- Ashok Gopinath, Director of Finance

I am very impressed by the ENSHAA projects and I think the company has a very positive future.

~ CONTACT:

ENSHAA PSC
Crescent Tower Al Buheirah Corniche, 1st floor
Sharjah, United Arab Emirates
Tel: + 971 (6) 5566 827
Fax: + 971 (6) 5566 829
E-mail: info@enshaa.ae
Web: http://www.enshaa.ae/

Dubai Office:
ENSHAA PSC
Capricorn Tower, 8th floor, Sheikh Zayed Road
Dubai, United Arab Emirates
Tel: + 971 (4) 3329 330
Fax: + 971 (4) 3320 225

Palm Jumeirah Projects Update

Palm Jumeirah is one of the greatest Mega Projects in world history. I place it right up there with the Great Pyramids of Egypt. It is a true wonder of the world. There are many projects being developed on Palm Jumeirah and in this post I want to update ALL of them so you will know exactly what is going on at Palm Jumeirah. The format will be simple and direct. I will list the project and beside the project I will list what stage of development it is in, either:

-- Completed
-- Topped Out
-- Under Construction
-- Approved
-- Planned
-- On Hold
-- Cancelled

I will try to be as accurate as possible but please remember that Dubai real estate changes constantly and the status of a project can thus change on a moments notice. Furthermore, new projects for the island can be announced at any time.

Here we go:

> Fairmont Palm Residences, Topped Out

> Sea View Club, Approved

> The Pointe Mall, Approved

> Jumeirah Al Fattan Resort, Topped Out

> Logo Islands, Planned

> Palm Jumeirah Sofitel Resort, Under Construction

> Emerald Palace Residences, Topped Out

> Waldorf Astoria Palm Jumeirah, Planned

> Dusit Hotels and Resorts, Planned

> Movenpick Resort and Spa Palm Jumeirah, Topped Out

> Taj Exotica and Grandeur Residences, Topped Out

> Kingdom of Sheba, Under Construction

> Royal Amwaj Hotel, Topped Out

> The Village Center, On Hold

> The Golden Mile, Completed

> One and Only Resort, Completed

> Atlantis The Palm, Completed

> Shoreline Apartments, Completed

> Oceana Hotel and Luxury Apartments, Completed

> Zabeel Saray Hotel and Royal Residences, Completed

> Trump International Hotel and Tower, Cancelled

> Rixos Hotel, Completed

> The Gateway Towers, Cancelled

> Wellington International School, Approved

> Tiara Residences, Completed

> Kempinski Hotel and Residences, Completed

You should now have a good well rounded idea of what is going on at Palm Jumeirah, one of my favorite Mega Projects!

Construction Week Power 100 Top 25

Construction Week magazine is a great publication that covers the construction industry and real estate developments of the Middle East. They publish a Power List that gives the 100 most powerful and influential people (in their opinion) in the industry. I will now give you the Top 25 on their list of 100 so you can get a better idea of who exactly are some of the top players in the Mega Project industry in the Middle East.

1. Ayman Hariri, Deputy General Manager, Saudi Oger

2. Bakr Bin Laden, Chairman, Saudi Bin Laden Group

3. Riad Kamal, Chairman and Founder, Arabtec Construction LLC and CEO of Arabtec Holding

4. Mohammed Al Abbar, Chairman, Emaar Properties

5. Zuhair Hamed Fayez, Principal Founder, ZFP Consultants

6. Mohamed Ali M.K. Kubaisi, Board Manager, MIDMAC

7. Nasser Ali Al-Mawlawi, President, Ashghal

8. Hassan Al Thawadi, CEO, Qatar World Cup Bid

9. Fatima Obaid Al Jaber, Chief Operating Officer, Al Jaber Group

10. Ali Al-Khodari, Chairman, Abdullah A.M. Al-Khodari & Sons

11. Osama Hadid, Managing Director, Al Jaber Engineering

12. Said T. Khoury, Chairman and President, Consolidated Contractors Company

13. Khaled Musaed Al Seif, Chairman, El Seif Engineering Contracting

14. Mohammed Abdul Aziz Al-Shaya, Chairman and Managing Director, Mabanee Company

15. Khater Massaad, CEO and Founder, RAK Ceramics

16. Dr. P. Mohamed Ali, Founder, Galfar Engineering and Contracting Company

17. Khaldoun Tabari, Vice Chairman and CEO, Drake & Skull International

18. Mustafa Sani Sener, Board Member, President and CEO, TAV Airports Holding

19. Noor Sweid, Strategic Director, DEPA

20. Andrew Elias, CEO, KELE Contracting

21. Phillipe Dessoy, General Manager, BESIX

22. Nasser Abdul Rahman Kamal, CEO, Qatar Project Management

23. Ali Hassan Kolaghassi, CEO, Saraya Holding

24. Khalid Al Malik, Group CEO, Dubai Properties Group

25. Wael Allan, Regional Managing Director, Hyder Consulting Middle East