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Dear Members,

I would like to welcome you to our News Letter issues number 4.  This issue include some focus on Africa because of the growing potentials in most of Africans markets. In addition to that, we included important news and reports about the region.

 

Best Regards,

Alaa Al-Fahoum

MIU Coordinator

 

Zimbabwe Mall To Attract Foreign Retailers

18 Oct 2011

News: A shopping complex in Harare, Zimbabwe, which is to be built with an investment of US$100mn, has a strong possibility of attracting foreign retailers to the city, reports the Herald newspaper. Retailers, including South Africa's Pick n Pay Stores (PIK) and Spar Group have already booked approximately 53% of the mall. The shopping complex, which will be the biggest in Africa outside of South Africa, will be known as the Mall of Zimbabwe. Construction operations for the mall, which are scheduled to begin in 2012, will take 16 months, according to Jason McCormick, managing director of McCormick Property Development, a company involved in the project.

 

Source: BMI

Sector Brief

 Guinea To Use Rio Tinto Settlement For Infrastructure Improvements

18 Oct 2011

News: The government of Guinea is to use US$700mn paid in compensation by UK mining company Rio Tinto for infrastructure improvements, reports Yahoo. The money was paid by Rio Tinto in the settlement of a dispute over the Simandou iron ore project. The figure is almost 75% of Guinea's annual budget. US$240mn will be spent on roads, electricity, health and education in FY 2011/2012. US$112mn will be invested in the power sector, with the rest kept in reserve.

 

Hoteliers still see potential in Dubai

The stable emirate has bucked the regional tender and continues to attract tourists in high number....More

 

 

 

Government now owns Nakheel, Limitless

 

Conglomerate Dubai WorldDubai shifted ownership of its property units Nakheel and Limitless to the government, concluding a restructuring process, it said on Wednesday....More

MODON Aims To Establish 40 Industrial Cities By 2015

The Saudi Industrial Property Authority (MODON) will establish 40 industrial cities across the country by 2015....More

Shurooq puts Dh350m in Khor Fakkan hotel project

Sharjah Capitalising on the tourist hotspots on its east coast, the Sharjah Government is investing Dh350 million in the Khor Fakkan Hotel and Resort with construction starting in the first quarter of next yea....More

 

Hamad Medical Corporation In Hospital Construction Programme

The Qatar-based Hamad Medical Corporation has drawn up plans to equip Hamad Medical City with three new state-of-the-art hospitals by 2013....More

 

Oman on Song

Visionary thinking, good governance, increased public spending on infrastructure and development projects, are some of the ingredients that go into making Oman as it stands today....More

 

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