Press Release: April 20, 2010
Interview with: Tarek Hamdy, Business Development Director of Mega Projects at the Al Mal Investment Company
Dubai, UAE, April 20, 2010 - FOR IMMEDIATE RELEASE
The infrastructure and property development opportunities in the Middle East are boundless when the current rate of population growth in the region is taken into consideration. The real investment opportunities are found in the untouched areas, says Tarek Hamdy, Business Development Director of Mega Projects at the Al Mal Investment Company. Developing in remote areas could be risky and accessibility is an issue, but that is how money can be made. A speaker at the marcus evans Infrastructure & Property Development MEA Summit 2010 taking place in Dubai, 25 27 April 2010, Hamdy shares his experiences of mega projects in the Middle East and the long-term benefits of developing remote areas.
What initiatives would attract more investors into infrastructure and property projects in the Middle East and Africa?
Tarek Hamdy: Accessibility is the biggest issue. Investors are reluctant to invest in remote areas without transport infrastructure, therefore governments need to ensure airports, seaports and train stations are built to reach the less developed areas.
The lack of local information is also a problem. Egypt had 17 different public authorities dealing with investors before they created a One Stop Shop for investors. It is important for public authorities to join investment authorities, to facilitate and incentivise investors from other countries. Governments want mega projects to succeed, as they also invest a lot of money into them. PABMEC, the economic city we are developing in Saudi Arabia is similar in size to Washington DC. It is critical to work with public authorities there is mutual interest in making the new destination a success.
Which asset classes would you recommend to investors?
Tarek Hamdy: I would recommend investors to invest in water or transport, as both sell very well. Developing a transportation component like an airport, sea port or a railway station or associated services such as storage areas, logistics, industries in an adjacent areas, and so on, could prove very profitable. Water always sells. Anything around water and its industries would be a good investment, as there are very little risks associated with them.
What are the real estate opportunities in the Middle East at the moment?
Tarek Hamdy: In the past ten years, there has been a wave of unnecessary real estate developments in the Middle East. The real opportunities are in developing new cities in more untapped and untouched areas. Egypt has a 2000 km shoreline but only 500 km have been used. The master planning of new industrial cities and residential areas is an opportunity, but it is not just about real estate but also about creating job opportunities and attracting people into the area.
Many investors hesitate to invest in remote areas because they are too far away or because they prefer less complicated projects, but our success is in developing remote areas and mega infrastructure project jointly with Governments to contribute and add value to countries in the region.
Contact: Sarin Kouyoumdjian-Gurunlian, Press Manager, marcus evans, Summits Division
Tel: + 357 22 849 313
About the Infrastructure and Property Development MEA Summit 2010:
This unique forum will take place at the Park Hyatt Dubai in the United Arab Emirates, 25 - 27 April 2010. Offering much more than any conference, exhibition or tradeshow, this exclusive meeting will bring together esteemed industry thought leaders and solution providers to a highly focused and interactive networking event. The summit includes presentations on improving the properties framework to attract and retain investors, reinforcing sound business fundamentals to survive and thrive in the wake of the financial crisis and the optimal methods for attracting investment and designing large scale master plans.
For more information please send an email to firstname.lastname@example.org or visit the event website at http://www.ipdsummit.com/TarekHamdyInterview
Please note that the summit is a closed business event and the number of participants strictly limited.
About marcus evans summits:
marcus evans Summits are high level business forums for the worlds leading decision-makers to meet, learn and discuss strategies and solutions. Held at exclusive locations around the world, these events provide attendees with a unique opportunity to individually tailor their schedules of keynote presentations, think tanks, seminars and one-to-one business meetings. For more information, please visit http://www.marcusevans.com
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