BECO Capital increases its stake in propertyfinder

Following aggressive expansion in the region, going from two to seven markets in 12 months, propertyfinder’s lead investor, BECO Capital, has committed to further funding of the leading property site in the MENA region.

The additional funding will be used to develop the product and tech team and intensify the sales and operations in key markets such as Saudi Arabia.

propertyfinder employs 120 people across 7 markets and recently moved into a brand new 8,000 sq. ft. office in Dubai Media City.

Established in 2007, the Propertyfinder Group owns and operates market-leading real estate portals across the region. Available in both English and Arabic, our websites provide visitors with comprehensive search facilities covering residential and commercial properties, real estate news, home advice and buying and selling guides, whilst agents enjoy access to the region’s largest potential audience of property seekers.

Current propertyfinder traffic statistics show us as a leader in the industry with 1 million visitors and 150,000 enquiries per month. Visits have grown by over 105% in the last 12 months and an impressive 298% in the last two years.

A winner of the ‘Enterprise Agility Awards’, ‘Dubai SME 100’ for the second consecutive cycle, the SMEinfo ‘Online Business of the Year’ and the Arabian Business Start-Up ‘SME of the Year’ titles and the ‘Arabia Fast Growth 500’ award in 2012 and with a presence in the UAE, Qatar, Egypt, Lebanon, Bahrain, Morocco and Saudi Arabia, the propertyfinder group is one of the fastest growing companies in the region. 

The Group aims to be in a total of nine countries, with a focus on the GCC and other parts of the Middle East in the coming months.

Building Opportunities in a $4trillion GCC Construction Sector

Demand and investment in infrastructure construction projects across the GCC continues to show robust growth as regional governments look to diversify economies away from their rich oil and energy sectors.

The Middle East is expected to spend over $4 trillion on infrastructure in the next decade, which means vast and significant opportunities for companies providing construction services, materials, equipment, logistics, man power and consultancy.

In this blog post, I’ve collated a snap shot of each GCC country’s strengths and opportunities in the construction sector, together with an overview of the largest projects currently underway and forecast. A breakdown of projects by sector is also highlighted.

UAE Strengths

• Government-supported infrastructure spending in transport and utilities will intensify as a means of diversifying the economy away from oil, in addition to keeping the population quiescent at a time of wider unrest.

• A clear regulatory environment and the governing of private investments in infrastructure create a favourable investment climate.

• State-owned utilities (ADEWA, DEWA) are willing to take on majority equity stakes in projects and provide government guarantees in a bid to attract investors.

UAE Opportunities

• The decline in cement and steel prices in the region reduces the cost of new projects.

• The construction industry remains one of the largest sectors in the UAE, after oil & gas, as the country tries to transform its oil-dependent economy by spending billions of dollars on its infrastructure and tourism sectors.

• Government willingness in Dubai and Abu Dhabi to allow private participation in infrastructure still appears high.

• The UAE is becoming a hub for renewables and green tech, with Masdar spearheading new ventures.

KSA Strengths

• Saudi Arabia has the largest construction sector in the Middle East. Alongside active government spending, efforts are also being made to increase private investment. Government-led activity boosted by oil windfalls is driving demand in the construction industry.

• The Ninth Development Plan for the Kingdom of Saudi Arabia sets out plans to invest SAR 1,444bn (US$385bn) in social and economic infrastructure between 2010 and 2014.

• The total value of contracts issued in the Kingdom's construction sector grew by 50% year-on-year in H212 (following a 140% y-o-y increase in awards during 2011).

KSA Opportunities

• The number of ongoing mega-projects means that many multinational firms have a presence in the country.

• Increasing private investment should provide opportunities for large foreign contractors to increase their involvement in the country.

• As other construction industries in the Gulf stagnate, construction companies look to Saudi Arabia for opportunities.

• Saudi Arabia remains a 'construction safe heaven' amid both wider political and financial turmoil.

Qatar Strengths

• Construction of large-scale transport infrastructure projects is under way - a move that will ease the strain on existing infrastructure.

• A number of international companies operate in the country, which is open to international private sector involvement.

Qatar Opportunities

• Qatar is developing its non-oil sector, thereby supporting infrastructure development.

• Hosting the FIFA 2022 World Cup should yield considerable contracts across the construction and infrastructure sectors.

Kuwait Strengths

• With large oil reserves, Kuwait has a significant cushion to weather economic difficulties.

• The country has been generating surpluses for a number of years, meaning it has financing available for large projects.

• USD 12.6bn infrastructure investment will further boost development and growth.

• Tighter integration with neighboring states makes Kuwait a more enticing investment prospect.

• Kuwait has a strong country structure and Kuwaiti firms have considerable infrastructure and construction expertise.

Kuwait Opportunities

• The tight integration of infrastructure development between Gulf states throughout the GCC provides opportunities for Kuwaiti firms to win contracts in the region.

• The Al-Zour refinery project appears to be back on track, offering opportunities for both energy infrastructure and wider construction projects.

• The government's continuing support for infrastructure stimulus provides opportunities for developments. Improvements in power and transmission systems are particularly beneficial for sustained growth.

Oman Strengths

The government’s strategy to diversify away from oil is well under way and is helping to drive infrastructure and tourism development.

• The government is keen to attract the private sector, including foreign companies, and has a strong market orientation.

Oman Opportunities

• Growing tourism and transport infrastructure offer opportunities for developers and new business in the country.

• Diversification of the economy will lead to a number of construction contracts and investment into accompanying infrastructure.

Why renters love Hydra Village in Abu Dhabi

Hydra villas, sometimes known at Hydra Village, is one of those neighbourhood sought after by families in Abu Dhabi.

Hydra Village in Abu Dhabi, UAE.

It is seen as a very safe, affordable and child-friendly developments in the UAE capital.

Built by master developer Hydra, the Hydra Village project went through difficult times during the upheaval of 2008 financial crash. Building stalled and delays were incurred.

However, now that villas of all different specification have been completed and come online, Hydra Villas has performed very strongly in the residential rental market.

These types of villa compounds are very popular in the Middle East with ex-pats. Reputable UAE agents Pink Property report that Hydra Village is one of the most common searches on their website. 

The forecast is… busy

Dubai skyline rises out of the fog.

When it rains, well, it rains. Along with a rare belting down of precipitation here in the Dubai desert came a mini flood of interesting projects into my inbox.

The Dinner Merchants are a couple of Kiwi girls starting a delivery dinner kit service in Auckland. I love working with entrepreneurs about to push the button on the idea that’s been keeping them awake during the wee hours. I’ve been developing their brand language, an all-important tagline and writing copy for their new website and print collateral. Throw in some digital consultancy, and it’s a full, multi-dimensional project.

Arabian Gateway is also keeping me busy. It’s a seriously ambitious business event scheduled for Dubai in 2014, with five satellite events in London, New York, Johannesburg, Sao Paulo and Sydney. I’m driving their social media management, primarily on Facebook, Twitter and LinkedIn. The LinkedIn element is a new one for me, and I’m beginning to understand the true power (and share value) of this platform. I’m also writing business content for their blog, including market analysis and commentary across many sectors, including aviation, healthcare, food services, financial services, construction, IT and others. I’ve enjoyed the editorial work, which is very different from playing around with marketing / advertising copy.

Then there’s Pink Property, in Abu Dhabi. They needed to grow their website to include a property listing and search functionality on the existing site (a project I led and launched several years ago). I’m working with my freelance designer and developer to make this happen. As well as the functional changes, we’re creating a handful of new pages and the new website is being built to work harmoniously across PCs, tablets and smart phones. Critical to any real estate client is SEO, so there’s some new key search terms Pink Property need me to deliver to 1st page Google – something I’ve achieved for them in the past.

First Choice Properties, a real estate company also based in Abu Dhabi, have tapped me up for some SEO work. This has involved optimizing their SEO, on-site and off-site, front end and back end. With changes made, we’re already seeing a positive shift in rankings. We’re yet to crack 1st page Google, but are sitting pretty on the first pages of Yahoo! and Bing. First Choice is focused on some quite competitive search terms so it’ll take a little time. The obsessive in me really gets off on SEO, putting in place a solid foundation for sustainable SEO and watching search results climb up the rankings.

Anyway, after two days of unsettled climactic weather in Dubai, the sun is back out. If you’re reading this and needing some copywriting, editorial, SEO, social media campaign work or web consultancy, do get in touch to talk about your project.

Surfing in the rain. Just because...

WERRI from Rob Macdonald on Vimeo.

Al Reef Villas Abu Dhabi

Al Reef Villas in Abu Dhabi is one of the most popular residential developments for ex pats living in the UAE capital city.

There are a wide selection of villas available for rent and sale. First Choice Properties, based in Abu Dhabi, has a strong portfolio of properties open for viewings.

There are four architectural styles of villas - Arabian, Desert, Contemporary and Mediterranean. Many come with swimming pools and landscaped gardens.

Al Reef Villas

(An SEO interlude)

Pink Property is the leading real estate agency for Al Reef Villas in Abu Dhabi.

This modern residential community is very popular with expatriates and is ideally situated to Yas Island and Al Raha beach, and only a 20-minute drive from downtown Abu Dhabi.

Al Reef Villas is divided into four zones, each with its own unique architectural theme – Arabian, Desert, Mediterranean and Contemporary.

All villas have private gardens and parking spaces; many have swimming pools.

Through our connections with developer Manazel and individual landlords in the neighbourhood, Pink Property has an exceptional and exclusive portfolio of properties available.

Whether you would like an immediate viewing of these rental and lease properties or are seeking to invest through buying and selling, Pink Property can assist you.

(This SEO interlude is now finished)