United Arab Emirates Insurance Report Q3 2010

Research and Markets has announced the addition of the “United Arab Emirates Insurance Report Q3 2010″ report to their offering.

The United Arab Emirates Insurance Report provides industry professionals and strategists, corporate analysts, insurance associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on the United Arab Emirates’ insurance industry.

The development of the UAE, Dubai in particular, as a regional hub for insurance and other financial services will likely be complicated by the volatility in the markets following the problems of Dubai World in late 2009. Nevertheless, the UAE’s physical infrastructure, the willingness and ability of the government of Abu Dhabi to continue to provide support to Dubai and the UAE’s competitive advantage in logistics and pharmaceuticals mean the insurance sector should continue to develop. Read more

United Arab Emirates Business Forecast Report Q4 2010

Although oil prices remain high and some developments in the real estate market may inspire confidence, Dubai’s debt problems have not been resolved; and resumption of construction activity will prolong an over-supply situation in the housing market. For Abu Dhabi, the picture is somewhat brighter, with the infrastructure, oil and industrial sectors all having recovered in 2009 and 2010. However, domestic demand remains a weakness across the country, as is evident from still falling rents. A renewed slowdown in the US and Chinese economies, hurting external demand, will therefore be very harmful for growth and financial stability. Read more

United Arab Emirates Retail Report Q3 2010

The Q310 UAE Retail report forecasts that the country’s retail sales will grow from an estimated AED69.28bn (US$18.87bn) in 2010 to AED90.71bn (US$24.70bn) by 2014. Key factors behind the forecast are strong underlying economic growth, despite the recent problems in Dubai, increasing household consumption, growing acceptance of modern retailing concepts and expatriate wealth. The UAE’s nominal GDP in 2010 is predicted to be US$300.7bn, with 2009’s 3.4% decline expected to turn into growth of 2.1% in 2010 as the economy begins to recover. We predict average annual GDP growth of 4.3% between 2010 and 2014. With the population increasing from an expected 4.7mn in 2010 to an estimated 5.1mn by 2014, GDP per capita is forecast to rise by the end of the forecast period to US$78,421. Read more

Middle East investment banking sector shows strong start in 2010

The Middle Eastern Investment Banking Industry continues to grow with second quarter activity contributing to an impressive overall first half of 2010. The analysis, compiled by Thomson Reuters, shows that although the second quarter activity was at a lower level than the first quarter, there is still a strong foundation for which to build on for the remainder of 2010.

Managing Director of Thomson Reuters Middle East ‘&’ Africa, Basil Moftah, commented, “Although the second quarter was modest in comparison to a highly impressive first quarter, the two have combined to build a solid start to 2010. The levels of fees, M’&’A, capital market and loan activity are fuelling a growing confidence among the Middle East investment banking community.” Thomson Reuters released its first half 2010 review of the Middle East investment banking industry, which covers the region’s M’&’A, debt and equity capital markets. The review includes rankings of banks and advisors operating in the Middle East based on deal activity and fees and provides and independent assessment of the market. Read more

UAE ranked sixth in the world in quality of infrastructure

The UAE has been ranked sixth in the world regarding quality of its infrastructure. It has also been ranked number 23rd in the Global Competitiveness Index (GCI) among 133 countries, according to the report issued by the Swiss based World Economic Forum (WEF.

The UAE was ranked in competitiveness ahead of Malaysia, Ireland, Italy, Brazil, Russia, India and China. The ranking reflects the efforts exerted by the UAE government and the Ministry of Public Works regarding the advanced infrastructure that spurs UAE position as regional and world business hub.

The report said the UAE posses advanced infrastructure in public premises, roads, ports, aviation and electricity UAE Minister of Public Works, Sheikh Hamdan bin Mubarak Al Nahyan said in a statement in Dubai today that the advanced ranking of the UAE in the field of infrastructure “is a motivation to the ministry and work team to further boost their performance and implement development and strategic projects”.

Upon the instructions of the UAE leadership, he continued the ministry will execute projects in the remote areas, including educational premises, health, security and cultural, as well as houses for citizens, maintenance, internal roads and roads, linking towns.

UAE “lost around 19% of its High Net Worth Individuals” population in 2009

While the number of dollar millionaires around the world climbed by 17% last year and the number in the Middle East grew by some 7%, the UAE lost around 19% of its HNWI population, according to the 14th annual Merrill Lynch/Capgemini World Wealth Report. The decline was “mainly due to the credit crisis in Dubai and the significant fall (-48%) in real estate prices” there, the report said.

The World Wealth Report is closely watched by the global luxury goods and services industries, as well as by wealth managers and financial advisers who help the high net worths to become and to stay rich.

For the purposes of this report, HNW individuals are those with investable assets of $1million or more, excluding their primary residence, collectibles, consumables and consumer durables. The definition for ultra high net worths is similar except that they have investable assets total $30m or more. Read more

Institute of International Finance Regional GCC Overview sees return to solid growth

The GCC Regional Overview from the industry benchmark Institute of International Finance shows that the region is seeing solid growth, underpinned by higher oil prices, robust government spending and some normalisation in global trade. Phil Blizzard talks to George Abed, Senior Consultant & Director, Mena Department, IIF, about the findings in their regional report. Read more

Focus on achieving Economic Growth

Unlike few years ago where the spotlight was on the GCC for property investment due to high capital growth rates, the spotlight has since shifted to elsewhere in the world. The UK and the US have become more popular now due to their attractive prices and the weakening of currencies. Properties in the Far East have also seen good capital growth after a short sharp fall towards the end of 2008. Even Australia has seen capital growth in the past two months because of low mortgage rates. Most of these countries have managed to revive their local property markets due to a combination of low interest rates and government policies. Read more

Is Dubai World the Only Problem in Town?

Last week Dubai World announced that it was creeping closer to a deal with its creditors. Welcome news not only for investors, but for Dubai as a whole. It’s been keen to draw a line under the affair since the crisis unfolded last November. But is this really the end of the story? That’s a question Ben Thompson put to Saud Masud, Head of Real Estate research at UBS.

The Future of Retail in EMEA – Change is Coming

Jones Lang LaSalle has launched Retail 2020, a definitive study of the rapidly changing global retail landscape over the next ten years via a bespoke interactive website. The research will cover all factors expected to impact EMEA retail real estate by 2020 including economic, technological, demographic and cultural changes and asks: What does the future hold, and how can the major players stay ahead of the game?

Robert Bonwell, CEO EMEA Retail at Jones Lang LaSalle, explained: “Over the next ten years, the whole global retail landscape looks set to experience a period of dramatic change. Whether owner or occupier, landlord or retailer, conditions are going to be tougher in the coming decade than they were in the previous ten years – but there will also be massive opportunities for those who can ally quick, radical action with impeccable judgement.”

Retail 2020 explores the shape of retail to come, covering dimensions such as sectors, locations, formats, offers and geographies, as well as profitability (growth, costs and business models), and will be released in a series of chapters starting on 26^th May. The aim of Retail 2020 is to provide a pertinent assumption base around the future of European retail.

Jones Lang LaSalle and the Retail 2020 web portal intends to lead the conversation for the retail industry as a whole on the future of the sector and the implications this has for the real estate sector, but also offer blogs, videos, news, interactive polls and client profiles. Read more

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