STANDPOINT by Atique Naqvi

Dubai is the Most Diverse Property Market By Atique Naqvi  |  Dubai, UAE  |  Uploaded on the blog recently** People from several nationalities have bought property in Dubai. With recorded transactions worth $44.06 billion involving 120 nationalities in 2013, Dubai property market is one of the most diverse and active in the world, according to the statistics provided by a property research firm. Spelling out the property market trends in the UAE for 2014, consultancy firm Jones Lang LaSalle says confidence has returned to the Dubai market. Though funding constraints are likely to apply a natural brake to development activity, the greater attention to operating costs and property management bodes well for the sector, it says. Jones Lang LaSalle outlines the below key trends affecting the UAE real estate market this year: 1)   Avoiding another bubble: With unsustainable price growth in the residential market, increasing cost pressures and return of s...

"GCC More Efficient in Project Management" By Atique Naqvi  |  Dubai, UAE  |  Uploaded on the blog recently** Arab companies lose $30m less than global average per $1bn spend. Mega projects in the GCC meet their objectives and lose less money than the global average. For every $1 billion project about $109 million are lost on a worldwide average, which is close to 11 per cent, says Mark A. Langley, the president and CEO of Project Management Institute. However, the money lost due to reasons such as a project’s goals, budgeting and timeliness is just eight per cent in the GCC, mostly because of better management of projects, fixed prices and government funding, he says. The US-headquartered institute has globally recognized standards and certification program, extensive academic and market research programs, chapters and communities of practice, and professional development opportunities. The institute has close to 12,000 members in the GCC, who keep a ...

Free Internet, Not a Daydream if You Are in Qatar By Atique Naqvi  |  Dubai, UAE  |  Uploaded on the blog recently** Telecom firms need to look at other sources of revenues  Mobile broadband customers in Qatar are in for a free ride. Telecom company Ooredoo says it made its 4G network permanently free for its customers. Other operators in the GCC region might follow suit and make Internet free on all hand-held devices. A few months back telecom industry analysts said that most of the growth for telcos was coming from data usage, as the conventional voice telephony has slowed down in mature markets and in markets with high penetration, such as the UAE and Qatar. However, if the Internet is free, what will be the source of income and growth for telcos? The CEOs of telecom companies in the region are not worried as they have other means to keep their organizations profitable. Ooredoo’s CEO, Nasser Marafih, says telecom firms need to ...

Financial Benefits of Arab Spring By Atique Naqvi  |  Dubai, UAE  |  Uploaded on the blog recently** Stable Arab countries benefit from the Arab Spring. The UAE and other GCC countries continue to reap financial benefits due to Arab Spring as investors divert their capital from troubled countries to more stable nations of the Arabian Gulf. “The truth is, the region – and the UAE in particular – has benefited considerably from new cash flows as a result of the Arab Spring”, says Dr Daniel Diemers, Principal with Booz & Company. At a global level, assets under management have seen a significant upswing around the world but these gains have not translated into the top-and-bottom-line growth that wealth managers would expect based on past recoveries. Key findings of the latest Booz & Company global survey highlight that the new global regulations, reduced revenue pools, new competition and changing customer behavior represent major challenges for we...

The world is clearly going toward more smart-phones with increased capability, competitive prices, and high content growth, said Paul E. Jacobs in 2011. With business in the Middle East growing, the telecom company is looking to reduce the cost of wireless-enabling technology, he said. The interview was published in the March 2011 issue of the Dubai-based magazine TRENDS - An International Magazine on Arab Affairs. Below is the jpeg file of the TRENDS magazine.