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March 28, 2016
Private healthcare spending to spur growth in UAE
Urbanisation and rising disposable income has resulted in many of the younger citizens adopting a “Western Lifestyle” which is characterized by an aversion to exercise and consumption of processed foods leading to increasing instances of diseases such as diabetes, coronary problems and other obesity related illness that were not prevalent in the region previously. Dubai is gaining popularity as a medical tourism destination due to its low cost, English speaking medical staff and virtually no queues for treatment. According to...
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March 13, 2016
GCC petrochemical companies need to shift gears if they are to remain competitive
The fall in oil means GCC players have lost a key competitive advantage – low-cost feedstock – that they have long held over major players in the US and Europe. Global players reduced their prices in line with the cost of feedstock, leading to a decline in petrochemical prices. Despite being aware of oil’s volatility, GCC&rsquo's petrochemical groups were underprepared to face such prolonged low oil prices. Most major players failed to develop risk-mitigation strategies and adopt newer technology, despite...
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March 8, 2016
International players fuel the growth of private education in UAE
The Education system is divided into 4 levels K-12 Education (Kindergarten, primary and secondary education) Higher Education Technical Education Special Education (Differentially abled students) Government has encouraged education by providing free education to Emirati students while charging nominal fees for expatriate students. The gross enrolment ratio for the primary education is comparable to the world average. The Abu Dhabi Education Council (ADEC), the Dubai Education Council (DEC) and the UAE Ministry of Education (MOE) are each tasked with education reform,...
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March 3, 2016
KSA Education is in a state of transition
Public expenditure on Education in Saudi Arabia is expected to hover around c.7% of nominal GDP in near future. Based on our estimates, the total market-size of KSA education market by spending is estimated at USD 66.66Bn in 2014. The formal education system in Saudi Arabia is similar to overall GCC education structure and can be divided into three broad levels: primary, secondary and tertiary. Noticeably, pre-primary education in Saudi Arabia is not a part of formal education structure unlike...
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February 25, 2016
UAE Contracting – Riding high on Expo 2020
The opportunities in the contracting sector can be subdivided into various sub-sectors like real estate, oil & gas, infrastructure, power and petrochemicals. Of all the sub-sectors, real estate is gaining the most momentum as 57.7% projects in pipeline as of April 2015 belong to real estate. Dubai and Abu Dhabi are particularly driving the contracting sector in UAE. Out of all the 860 projects ongoing as of April 2015 in the UAE region, 87% are Dubai and Abu Dhabi based....
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February 24, 2016
Saudi Contracting
The oil and gas sector accounted for USD 12.8 billion worth of projects as the facilities are being ramped up and modernized. The oil and gas sector accounted for a majority share of 21.7% out of the total value of projects awarded in 2014. Saudi Aramco accounted for all of the contracts in the oil and gas sector during 2014. Considering the size of the projects, Saudi Aramco elected to award contracts in phases without focusing on a single contractor to...
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February 14, 2016
KSA Asset Management
According to Marmore’s Saudi Arabia asset management report, the market is concentrated among the top asset management companies, with the top five asset managers (out of a total of 33 managers) accounting for 86% of the total assets being managed. NCB Capital was the leading fund manager (in terms of AUM) with USD 7.03 billion in assets (35% market share), followed by Samba capital with USD 3.83 billion (19% market share) and Al Rajhi Capital with USD 3.31 billion (12%...
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February 11, 2016
Kuwait Petrochemicals
PIC’s goal is to prove its efficiency and capabilities in the Petrochemical sector through Joint ventures and construction of mega integrated refining and petrochemical projects in Kuwait and in other countries. According to Marmore’s Kuwait Petrochemical report, PIC plays a major role in the effort of the Kuwait government to diversify its exports from Oil and Natural Gas. Petrochemical projects worth USD 337.7 Bn (Zawya) are planned to be executed in Kuwait between 2009 and 2017. The Olefins-III project...
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February 11, 2016
Qatar Residential Real Estate
According to Marmore’s Qatar residential real estate report, the developmental activities in the country are expected to lead to huge influx of expatriates in the coming years, which along with the youthful demographics will lead to increase in demand for affordable homes. The residential real estate market in Qatar is characterized by undersupply and the increasing demand is expected to add to the existing market pressure. Qatar is forecasted to add a cumulative supply of 22,000 units during 2014-2018 to...
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December 30, 2015
KSA Brokerage Industry – Challenging Times Ahead
Saudi stock market is dominated by the top 10 brokerage firms contributing approximately 90% of the value traded. Some of the players who have ranked atop consistently in the Saudi Arabian market in terms of value traded as brokers include AlJazira Capital, Al Rajhi Financial Services Company, NCB Capital, Samba Capital and HSBC Saudi Arabia. The larger players (i.e.) brokerage divisions of the banks and other standalone players offer full services such as provision of single window for investing in...