FOR IMMEDIATE RELEASE
Volatility in the Middle East has highlighted the need for economic diversification. The ability to keep pace with population growth and survive in the post-oil age is fundamental to the long-term outlook for infrastructure and property industries, which in turn, play a vital role in transforming the regional economy. The global economic crisis, while devastating to project owners and investors, delivered a well-needed correction to the market. The slowdown provided authorities and developers with a crucial opportunity to reassess their master plans and adapt their business strategies for slower yet steadier growth.
Current project proposals consist of much more than a seven star concept that can be sold off-plan. Today’s blueprints are based on greater social incentives to accommodate a variety of demographic populations, provide cross-border transport networks and enhance cultural and knowledge-based industry. What can effectively be described as a paradigm shift, at least for oil-rich GCC property markets, will prove crucial to sustaining growth for both the regional project pipeline and its overall economic outlook. Moving forward, project stakeholders will heed the economic issues that could have an eventual impact on business operations and will play a more proactive role in advancing the regional economy.
The recent uprisings are another indicator underlining the importance of social, political and ultimately economic development in this part of the world. The political situation in Bahrain proves that even in more advanced countries, governments must deliver on their promises of change. Saudi Arabia recently attempted to tame investment markets by increasing oil production but its measurable reform efforts, including the government’s record-breaking fiscal support package and its USD 400 billion five-year infrastructure programme, should be much more effective in offsetting political pressure.
A modern plan for infrastructure development is core to economic advancement. Likewise, modern infra networks can lead to continued economic growth and robust real estate markets. As the social, political and economic landscape continues to change shape, project owners and implementers will monitor these transformations. Whether incremental or radical, these developments could ultimately dictate public project tenders and drive business strategies for years to come.
The marcus evans Infrastructure & Property Development MEA Summit 2011 offers vital opportunities for delegates in this maturing market to benchmark their learning experiences and hear from world leading economists as they reveal the key factors to consider when planning for the future.
marcus evans, Summits Division
Tel: + 357 22 849 313
About the Infrastructure & Property Development MEA Summit 2011
This unique forum will take place at the Park Hyatt Dubai, UAE, 2 - 4 May, 2011. 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 cost management, green building methods and diversifying the project portfolio.
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, think tanks, seminars and one-to-one business meetings. For more information, please visit www.marcusevans.com
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