Welcome!

News Feed Item

The Dos and Don'ts of Reviving Frozen Real Estate Projects in the Middle East



Ayman Okasha, a keynote speaker at the marcus evans Infrastructure & Property Development MEA Summit 2014, gives advice on achieving excellence when reviving frozen projects

LONDON, Apr 21, 2014 - (ACN Newswire) - As infrastructure and property developers in the Middle East start reviving projects that were put on hold, there are a few things that they need to do differently, according to Ayman Okasha, GM Rental & Mirdiff, Union Properties. "The more time, effort and money developers spend before developing to get the product right, the more likely it will be received well, which will minimise any future bubble or shortfall in the market from a demand or financial point of view," he said.

Okasha is a keynote speaker at the marcus evans Infrastructure & Property Development MEA Summit 2014.

- Many developers are now reviving frozen projects. How can they achieve project excellence this second time around? What lessons should they have learnt?

At present, companies/developers should be extra careful by developing projects that can be absorbed/accepted by the market, based on genuine foundations and market conditions, mainly supply and demand, proper feasibility studies and risk analyses, complementing the existing products and services that are being offered in the market.

When the market was booming several years ago, developers did not carry enough studies and financial risk analyses to support the viability and the financial health of the projects, as the sale transactions were not meant to be utilised by end users. The key issues related to the investment decision, such as the location, project details and type, were not considered as the investor knew that he was doing the transaction to benefit from the difference of buying vs. selling and as a tool of speculation, rather than being a genuine buyer or end user.

Project excellence can be achieved by gathering all the information related to the freeze percentage of work achieved on the project since the stoppage time, providing a comprehensive list of the remaining works and looking at it thoroughly in order to obtain an alternative course of plan and action to change either the concept or the finishing items, as to be more flexible in terms of time, cost and work progress and achieve a smooth completion for a project that is compatible with the current market and requirements.

- How deep do developers need to go in the market research to support a development?

In general, the deeper developers go into the details of a planned development, the more the unsuccessful results they will eliminate, as the end product will meet stakeholder and end user demands. To use a residential building development as an example, a pre-development market research should be conducted with details covering the following areas: the location of the residential building, ensuring that the building details including its units match the level of target customers, in term of details and quality for that location; the size of units in square feet; the percentage of number of bedrooms in each unit to the overall number of units i.e. number of bedrooms in each unit to the overall number of units; i.e. 30 per cent one bedroom, 25 per cent with two bedrooms and 45 per cent with three bedrooms; type of apartment: open, closed kitchen, balcony, number of toilets in each unit; the amenities and services in the building; and style and class of finishes.

- What are the main challenges that developers could face in reviving a frozen project?

They could face: financial challenges, time factor with all its related issues, social challenges, logistical challenges, administrative challenges, market changes, changes in customer trends, and changes in municipal rules and regulations.

Which specific markets or sectors would you point developers and investors to? What are the hidden opportunities in the Middle East?

Due to recent developments with Dubai winning the hosting of EXPO 2020, the organic growth of the city and it being the most preferred city to visit in the region, the following sectors have great opportunities for investors: services, retail, hospitality (3 & 4 star hotels), real estate supported by proper research and development, transportation, health and education.

About the Infrastructure & Property Development MEA Summit 2014

Offering much more than any conference, exhibition or trade show, 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 performing a delicate balancing act by adopting a superior level of quality, sustainability and convenience within allocated budgets, and validating development plans to showcase the booming market and deliver profit-generating products.

For more information please send an email to [email protected] or visit the event website at www.ipdsummit.com/AymanOkashaInterview

marcus evans group - property/engineering sector portal - http://www.marcusevans.com/reviews/engineering

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 world's 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, case studies, roundtables and one-to-one business meetings. For more information, please visit www.marcusevans.com

- LinkedIn: www.linkedin.com/groups?gid=4771229&trk=myg_ugrp_ovr
- Twitter: www.twitter.com/meSummitsIPD
- YouTube: www.youtube.com/meSummitsGlobal
- SlideShare: www.slideshare.net/MarcusEvansSummits

All rights reserved. The above content may be republished or reproduced. Kindly inform us by sending an email to [email protected]

About marcus evans Summits

marcus evans Summits are high level business forums for the world's 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-on-one business meetings. For more information, please visit www.marcusevans.com.

- Twitter: www.twitter.com/meSummitsGlobal
- YouTube: www.youtube.com/user/MarcusEvansGroup
- SlideShare: www.slideshare.net/MarcusEvansSummits

Source: marcus evans Summits

Contact:
Sarin Kouyoumdjian-Gurunlian
Press Manager, marcus evans, Summits Division
Tel: +357 22 849 313
Email: [email protected]




Copyright 2014 ACN Newswire. All rights reserved.

More Stories By ACN Newswire

Copyright 2008 ACN Newswire. All rights reserved. Republication or redistribution of ACN Newswire content is expressly prohibited without the prior written consent of ACN Newswire. ACN Newswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
Cloud Expo, Inc. has announced today that Andi Mann and Aruna Ravichandran have been named Co-Chairs of @DevOpsSummit at Cloud Expo Silicon Valley which will take place Oct. 31-Nov. 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. "DevOps is at the intersection of technology and business-optimizing tools, organizations and processes to bring measurable improvements in productivity and profitability," said Aruna Ravichandran, vice president, DevOps product and solutions marketing...
In his session at Cloud Expo, Alan Winters, an entertainment executive/TV producer turned serial entrepreneur, presented a success story of an entrepreneur who has both suffered through and benefited from offshore development across multiple businesses: The smart choice, or how to select the right offshore development partner Warning signs, or how to minimize chances of making the wrong choice Collaboration, or how to establish the most effective work processes Budget control, or how to ma...
SYS-CON Events announced today that Enzu will exhibit at SYS-CON's 21st Int\ernational Cloud Expo®, which will take place October 31-November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Enzu’s mission is to be the leading provider of enterprise cloud solutions worldwide. Enzu enables online businesses to use its IT infrastructure to their competitive advantage. By offering a suite of proven hosting and management services, Enzu wants companies to focus on the core of their ...
With major technology companies and startups seriously embracing Cloud strategies, now is the perfect time to attend 21st Cloud Expo October 31 - November 2, 2017, at the Santa Clara Convention Center, CA, and June 12-14, 2018, at the Javits Center in New York City, NY, and learn what is going on, contribute to the discussions, and ensure that your enterprise is on the right path to Digital Transformation.
In the world of DevOps there are ‘known good practices’ – aka ‘patterns’ – and ‘known bad practices’ – aka ‘anti-patterns.' Many of these patterns and anti-patterns have been developed from real world experience, especially by the early adopters of DevOps theory; but many are more feasible in theory than in practice, especially for more recent entrants to the DevOps scene. In this power panel at @DevOpsSummit at 18th Cloud Expo, moderated by DevOps Conference Chair Andi Mann, panelists discussed...
SYS-CON Events announced today that IBM has been named “Diamond Sponsor” of SYS-CON's 21st Cloud Expo, which will take place on October 31 through November 2nd 2017 at the Santa Clara Convention Center in Santa Clara, California.
We build IoT infrastructure products - when you have to integrate different devices, different systems and cloud you have to build an application to do that but we eliminate the need to build an application. Our products can integrate any device, any system, any cloud regardless of protocol," explained Peter Jung, Chief Product Officer at Pulzze Systems, in this SYS-CON.tv interview at @ThingsExpo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA
SYS-CON Events announced today that CA Technologies has been named "Platinum Sponsor" of SYS-CON's 21st International Cloud Expo®, which will take place October 31-November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. CA Technologies helps customers succeed in a future where every business - from apparel to energy - is being rewritten by software. From planning to development to management to security, CA creates software that fuels transformation for companies in the applic...
Amazon started as an online bookseller 20 years ago. Since then, it has evolved into a technology juggernaut that has disrupted multiple markets and industries and touches many aspects of our lives. It is a relentless technology and business model innovator driving disruption throughout numerous ecosystems. Amazon’s AWS revenues alone are approaching $16B a year making it one of the largest IT companies in the world. With dominant offerings in Cloud, IoT, eCommerce, Big Data, AI, Digital Assista...
Multiple data types are pouring into IoT deployments. Data is coming in small packages as well as enormous files and data streams of many sizes. Widespread use of mobile devices adds to the total. In this power panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists looked at the tools and environments that are being put to use in IoT deployments, as well as the team skills a modern enterprise IT shop needs to keep things running, get a handle on all this data, and deliver...
In his session at @ThingsExpo, Eric Lachapelle, CEO of the Professional Evaluation and Certification Board (PECB), provided an overview of various initiatives to certify the security of connected devices and future trends in ensuring public trust of IoT. Eric Lachapelle is the Chief Executive Officer of the Professional Evaluation and Certification Board (PECB), an international certification body. His role is to help companies and individuals to achieve professional, accredited and worldwide re...
Both SaaS vendors and SaaS buyers are going “all-in” to hyperscale IaaS platforms such as AWS, which is disrupting the SaaS value proposition. Why should the enterprise SaaS consumer pay for the SaaS service if their data is resident in adjacent AWS S3 buckets? If both SaaS sellers and buyers are using the same cloud tools, automation and pay-per-transaction model offered by IaaS platforms, then why not host the “shrink-wrapped” software in the customers’ cloud? Further, serverless computing, cl...
You know you need the cloud, but you’re hesitant to simply dump everything at Amazon since you know that not all workloads are suitable for cloud. You know that you want the kind of ease of use and scalability that you get with public cloud, but your applications are architected in a way that makes the public cloud a non-starter. You’re looking at private cloud solutions based on hyperconverged infrastructure, but you’re concerned with the limits inherent in those technologies.
Wooed by the promise of faster innovation, lower TCO, and greater agility, businesses of every shape and size have embraced the cloud at every layer of the IT stack – from apps to file sharing to infrastructure. The typical organization currently uses more than a dozen sanctioned cloud apps and will shift more than half of all workloads to the cloud by 2018. Such cloud investments have delivered measurable benefits. But they’ve also resulted in some unintended side-effects: complexity and risk. ...
With the introduction of IoT and Smart Living in every aspect of our lives, one question has become relevant: What are the security implications? To answer this, first we have to look and explore the security models of the technologies that IoT is founded upon. In his session at @ThingsExpo, Nevi Kaja, a Research Engineer at Ford Motor Company, discussed some of the security challenges of the IoT infrastructure and related how these aspects impact Smart Living. The material was delivered interac...