Ministry of Health-Kuwait engaged Gulf Consult to design new ” Al Razi Hospital”.

Gulf Consult - Al Razi Hospital 02

Gulf Consult were engaged by the Ministry of Health to undertake the Concept Design for the new Al Razi Hospital.

This new Al Razi Hospital is proposed as an addition to the existing Al Razi Hospital within the Al Sabah Hospital Campus in Shuwaikh, Kuwait. This addition will be an Orthopedic Hospital with all new state of the art facilities within a multistorey 12 floor building and will include 240 beds.

The site allocated for the hospital expansion adjoins the existing hospital and is a 2,913 m2 L-shaped plot, approximately 50 m from Jamal Abdul Nasser street.

The new extension comprises of mainly physiotherapy and radiology department with 10 floors of inpatient wards. The basement is allocated for future expansion. The total built up area is 33,410 m2 including the central plant and medical gas building structures.

The conceptual planning is generally based on providing defined circulation routes for patients, visitors, materials and waste.

 Project Data : 

Location Shuwaikh, Kuwait
Client Ministry of Health
Services Concept Design/Design Build
Cost

KD 32.0 million

Data
Floor Area : 33,410m2
Floors : Ground + 10
Beds : 240 Beds
Status Design Stage

 

 

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China’s biggest bank gets final approval for Kuwait branch.

China’s biggest bank, Industrial and Commercial Bank of China, has received final approval to open a branch in Kuwait, which wants to free up its banking sector.In March, Kuwait said it would allow foreign banks to open multiple branches to spur growth. Analysts said it was unlikely that many banks would take advantage of the offer unless the government accelerated long-postponed infrastructure projects.

Allowing foreign banks to expand in Kuwait will encourage competition and the development of banking products and services, governor Mohammad al-Hashel said in a statement on the central bank website.He said the central bank had put ICBC in the official register of foreign banks after it got approval from the Finance Ministry to open a branch.

ICBC got approvals last year from Kuwait’s central bank and cabinet. It will be the bank’s fourth branch in the Gulf Arab region after Doha, Abu Dhabi and Dubai.ICBC’s chairman said earlier this year his bank could be a “liaison” between Chinese companies and Kuwait, according to a report on Kuwait’s state news agency KUNA. Jiang Jianqing said he welcomed opportunities for investment in Kuwait’s development plan, KUNA said.

The development plan, first announced in 2010, seeks to spend billions of dollars on major infrastructure projects such as roads, a new airport and refinery.Foreign banks in Kuwait, a major oil exporter, include regional lenders such as National Bank of Abu Dhabiand Qatar National Bank, as well as international heavy weights BNP Paribas, Citigroup and HSBC .

 International names have been able to operate in the country since 2004 but, until this year, had only been able to open one branch. This is ICBC’s first branch.Other restrictions on foreign banks in Kuwait have limited them to offering investment banking services and banned them from competing in the retail sector. It is not immediately clear when these restrictions might be eased.
Via : KUNA

No.of Reads (196)

Net GCC foreign assets set to hit $2.3t at end-2014.

Kuwait Economy

The Washington-based global association of financial institutions said the region’s gross financial assets are also on course to rise to $2.8 trillion by year-end as a result of continued large surpluses.However, the IIF warned that the GCC countries’ fiscal stress could surge over the medium term if oil prices drop sharply while government spending continues to rise.

“Assuming an average Brent oil price of $105 per barrel in 2014 [as compared to $108 per barrel in 2013], the GCC’s external current account surplus, while declining, is expected to remain large at $287 billion in 2014. The consolidated fiscal surplus will also narrow from 10.6 per cent of the gross domestic product in 2013 to 8.3 per cent in 2014, reflecting slightly lower oil prices and higher expenditures,” it said in its regional overview.

This year, overall growth of the GCC is projected to be around four per cent as oil production remains restrained due to increased global supplies and tepid growth in demand, the IIF said. Growth moderated from 5.5 per cent in 2012 to 4.2 per cent in 2013, largely due to a slower rise in crude oil production. Non-hydrocarbon real GDP growth, a more representative measure of economic activity, remained robust at 5.4 per cent in 2013, driven by higher public spending and stronger private sector activity.

The IIF in its review showed GCC countries to make further progress in economic diversification.“Although hydrocarbon sector’s contribution to GDP has declined steadily, the budget dependence on oil revenues continues to be high,” said George Abed, senior counsellor and director for Africa and the Middle East at the IIF.

GCC private sector growth is projected to rise further to 6.2 per cent in 2014 from 5.9 per cent in 2013, supported by buoyant domestic demand and both private consumption and investment expenditures. Government-sector growth is projected to slow to 3.5 per cent in 2014 from five per cent in 2013 as authorities across the GCC move to begin to rein in expenditure growth, which had been resurgent for nearly a decade.

Economic diversification in the GCC, the IIF noted, continues as signalled by the steady decline in the share of the hydrocarbon sector’s contribution to real GDP from 41 per cent in 2000 to 33 per cent now. “However, GCC countries have not done as well in diversifying their domestic revenue base as the oil and gas sector’s contribution to budget receipts remained high at 84 per cent on average in the last three years,” it said.

Inflation is projected to remain subdued at about three per cent in 2014, reflecting both the absence of global inflationary pressure and the openness of the economies. However, in Qatar and the UAE, some price pressures could emerge, driven by a rapid increase in housing and related costs. The UAE is projected to see a rise in average inflation from 1.1 per cent to 2.8 per cent as the property market recovers and the deflationary impact from rent declines is reversed.

In a recent forecast, the International Monetary Fund had predicted GCC economic growth to be 4.4 per cent in 2014 as oil production rises and the non-oil sector benefits from the large infrastructure projects being implemented. However, because of the volatility inherent in oil prices, the IMF expects downside pressures during 2014, as well as longer-term structural challenges. The IMF has said that most GCC economies continue to have “substantial buffers” to cope with short-lived oil price shocks despite an expected drop in their current account surpluses.

The IMF also had noted that most GCC countries have accumulated large official external assets and would be able to comfortably weather temporary declines in oil income. Total public external assets in the GCC are estimated at nearly $2 trillion, which could be used to make up for any shortfall in oil revenue.

No.of Reads (191)

Kuwait’s real estate sales hit KWD 351 mln in March

NBK Capital MENA Research stated in its weekly report, that Kuwait’s real estate data for March showed sales totaling KWD 351 million, up 20% y/y.The investment arm of National Bank of Kuwait said March monthly sales are the highest this year, closing the 1st quarter with sales totaling KWD 923 million.

Sales were up across all sectors with an exceptional performance by the commercial sector. The residential and investment sectors remained solid, and the real estate sector is expected to have another strong year. Sales in the residential sector reached KWD 177 million in March, a 19% y/y increase. Although there was a 10% y/y decline in the number of transactions to 439, this was more than offset by a rise in the average transaction value. The latter increased 32% y/y to KWD 403,000.

It is worth noting that despite strong year-on-year increases in sales, the number of transactions has been dropping (year-on-year) in past months – a possible reflection of the short supply of residential properties available on the market.In terms of location, 34% of transactions were in Al-Ahmadi governorate, followed by Mubarak Al-Kabeer with 25% of transactions.

Sales of land plots – as opposed to finished buildings – accounted for 57% of all residential transactions in March. Quarterly, Al-Ahmadi also led the governorates with 33% of all transactions in the first quarter followed by Mubarak Al-Kabeer, which has been seeing increased activity in the Abu Fateera and Funaitees areas.

Sales in the investment sector stood at KWD 132 million in March, up 9% y/y. The sector also saw a 53% y/y increase in the number of transactions, recording 195 transactions by the end of March. The increases reflected on the average size of transaction which dropped 29% y/y, to KWD 680,000. In quarter analysis, the investment sector sales grew 35% compared to Q1 of 2013.Individual apartments made up more than half of all transactions in the investment sector – the majority in Mahbola. Whole buildings came in second, accounting for 32% of transactions, followed by plots with an 11% share.

Sales in the commercial sector soared 92% to KWD 42 million in March, from KWD 22 million a year earlier. The sector recorded 12 transactions, with one plot in Jahra selling for KWD 11 million. Sales in this sector are often uneven month-to-month. While the sector’s performance in the first two months of 2014 seemed to be cooling, March sales confirmed a strong bounce back.

March also witnessed two significant transactions classified by the Ministry of Justice as ‘coastal line’ properties. The first is a 4,000 m2 residential plot in Messila sold for KWD 9 million, while the second was a 3,700m2 commercial ‘shops’ transaction in Mahbola, for KWD 7 million.Kuwait Credit Bank approved KWD 29 million in loans in March, down 16% from a year ago.
The past year has nevertheless been a very active year for the bank. The slowdown in the past couple of months may be linked to a slowdown in the distribution of plots.

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Kuwait signs $3bn LNG supply deal with British Petroleum.

Kuwait Petroleum Corp (KPC),

Kuwait signed a five-year liquefied natural gas (LNG) supply deal with BP on Tuesday, worth an estimated $3 billion, as it seeks to meet rising energy demand to power air conditioning during scorching Gulf summers.

Kuwait, a major OPEC oil producer, already signed a $12 billion LNG supply deal with Royal Dutch Shell on Sunday and will also import gas from fellow Gulf state Qatar.The BP deal, signed by state-run Kuwait Petroleum Corp (KPC), will help Kuwait run its power plants through the hottest time of the year.

KPC expects Kuwait will import a total of around 2.5 million tonnes of LNG, natural gas frozen to a liquid for transport on tankers, per year over the next few years through such contracts, said Nasser al-Mudaf, head of the company’s international marketing division.

He was referring to the deals with Shell, BP and state-run Qatar gas.Kuwait began importing LNG in 2009. Over the previous four years it signed deals with Shell and Swiss-based trader Vitol to supply it during the peak power demand period from April to October.

No.of Reads (185)

Saudi Arabia builds world’s tallest flagpole in Jeddah.

The Middle East is set for its latest Guinness Book of Records feat with completion of a 170m-high flagpole in Jeddah.
The Bride of the Red Sea, on the intersection of Andalus Road and King Abdullah Road, with be the world’s tallest flagpole when officially confirmed and includes a Saudi flag weighing 570kg, Saudi Gazette reported.

It is part of a wider streetscape project carried out by the Jeddah Municipality over the past 12 months.“We are not building them for Guinness World Records. We are building them for the nation and for the people of Saudi Arabia,” Ibrahim Badawood, managing director of Abdul Latif Jameel Community Initiatives (ALJCI), was quoted as saying.

“Jeddah residents will be sharing their pride in the Kingdom of Saudi Arabia by raising the Saudi’s national flag on one of the tallest poles in the world.”

The flagpole is said to be equipped with an automatic hoisting system, advanced cameras, a system for measuring wind speed and a lighting system for important occasions.

Via :Saudi Gazette

No.of Reads (214)

Ministry of Health-Kuwait will Build New Al-Sabah Hospital With KD 179 Mn.

The Ministry of Health signed a KD 179 million ($637 million) contract with a host of private companies recently to build the new Al-Sabah Hospital, to be completed in four years from start of construction.

The new Al-Sabah Hospital, to be built over 88,000 square meters in Al-Sabah Health Area, will be overlooking the sea, Minister of Health Ali Al-Obaidi told a news conference.

The 11-story hospital would include 771 beds and a multi-story parking. He said the project was part of the government’s development plans, and an addition to two contracts signed earlier to build Al- Razi Hospital and Kuwait Cancer Center. Al-Obaidi said the ministry would sign a contract to build the Infectious Diseases Hospital, Al- Adan and Farwaniya Hospitals.

Via : KUNA

No.of Reads (494)

Kuwait’s KNPC launches plans to develop oil refineries.

The Kuwait National Petroleum Co. (KNPC), an affiliate of the Kuwait Oil Co. (KOC), has finally signed the consortia contracts to produce clean fuel, Al-Monitor reported.

This comes more than 22 years after the launch of the last oil-petrochemical project with foreign participation in 1992. The new project consists of upgrading the Mina Al Ahmadi Refinery and Mina Abdulla Refinery to produce modern oil derivatives that keep up with global environmental requirements to reduce the sulfur content to the lowest rate.

The project is of a strategic and developmental nature that stimulates the economic wheel in Kuwait and is expected to create numerous job opportunities, especially for the local workforce, as it will employ more than 35,000 people in the sectors of refinery construction and development.

This project will give the oil sector the opportunity to work with foreign companies and experts from many countries, specializing in almost all areas related to the method of development of major projects and the improvement and development of performance and production.

Moreover, it will introduce this sector into the various global markets. This project is costing about 3.4 billion Kuwaiti dinars ($10 billion) and is expected to be completed in 2018. The upgrading of the refineries will increase the benefits of Kuwaiti medium crude oil so that it can compete with light crude oil such as Brent, by producing oil derivatives that have the light oil characteristics.

The two Kuwaiti refineries will become similar to the US refineries relying on oil from Saudi Arabia, Kuwait, Iraq, Iran and Venezuela, which is a medium to heavy oil, but less expensive than light oil.

No.of Reads (205)

Six groups pre-qualified for Kuwait’s mega refining deal.

Kuwait has agreed to pre-qualify six international consortium to bid for one of the world’s largest refining projects with a capacity of more than 600,000 barrels per day, a newspaper in oil-rich Gulf emirate reported on Tuesday.

The six include JGC Corp of Japan, Fluor Corp and KPR of the US, the UK’s Petrofac, Italy’s Saipem, and TR Group of Spain, the Arabic language daily Al Rai said.

The paper, quoting oil sources, said Japan’s Chiyoda Corp quit the race just before the six were pre-qualified, adding that it was the second time the Japanese firm pulls out from a Kuwait oil deal following its recent decision to quit bidding for the multi-billion dollar clean fuel project (CFP).

It said the higher tendering committee in the state-owned Kuwait National Petroleum Company (KNPC) has just approved a recommendation by the Kuwait Oil Company to pre-qualify those six consortiums to bid for Al Zour project in south Kuwait.

“The six consortiums will bid for three major packages in Al Zour contract…these packages will be tendered after the list is approved by the central tenders committee,” the report said without mentioning reasons for Chiyoda’s pullout.

It said the list would be presented to the central tenders committee within a week, adding each consortium can bid for the three packages together.

The report said the three packages have a value of KD 2.5 billion ($9bn) and the first one involves refining operation units. The second covers support units and the third is for the construction of water, steam, power and connection units.

KNPC has already pre-qualified five consortiums to bid for the first two stages of Al Zour at a cost of $2bn, involving dredging and construction of storage tanks.

The 615,000-bpd Al Zour refinery is part of the CFP launched by Opec-member Kuwait to double its refining output capacity to nearly 1.4 million bpd. The project also involves the development of Mina Abdullah and Mina Al Ahmadi refineries.

 

Via : Alrai news media

 

 

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Kuwait Airways looking to hire ‘experienced’ COO.

Kuwait Airways is looking to hire a Western candidate who has worked in regional airlines as the new chief operating officer (COO) of the company, a local daily reported yesterday. Hiring a new COO is a priority for KAC as it looks also to find suitable candidates for the general manager and financial manager posts, according to a ‘high level source’ in the company quoted by Al-Qabas daily yesterday.

The KAC is very serious about its bid, to the point that it has hired a company to ‘snatch’ qualified candidates with successful work experience in those fields, said the sources who spoke on the condition of anonymity. The company was close to hire ‘an experienced Western candidate’ to work as a financial manager, but he refused in favor of an offer valued triple that of the KAC, the sources said. The issue is expected to be discussed during a meeting between the management and the labor committee at the KAC next week, the sources said.

KAC building The KAC is looking to contact high-ranking state officials in order to convince the government to allow them to keep their building in Kuwait City. An ultimatum given to the KAC to evacuate its ageing building on Helali Street ends on May 5, 2014.

Sources within the KAC management revealed that company officials are trying to persuade the government to allow them to subject the building to major maintenance projects instead. The KAC had sent a letter to the Cabinet in February in which they expressed willingness to carry out maintenance on the building, or even demolishing it and building a new one in its place. The Finance Minister refused, however, citing a Fatwa and Legislation Department clause which allows it to end the building’s lease contract.

No.of Reads (218)

10 most expensive Airports under construction in GCC.

To meet the demands of travellers and expanding airlines, Gulf states are pumping billions of dollars into building new airports or expanding the existing facilities.

The International Air Transport Association (IATA) noted that “about $40bn is being invested in airport infrastructure in the Arabian Gulf alone by far-sighted” governments. It forecasts that by the year 2017 the total passenger numbers are expected to rise to 3.91bn.

The UAE leads the way with a combined $18.8bn in construction and expansion plans, with $15.9bn pumped into Dubai alone.While Qatar is investing a massive $15.5bn in its airport in Doha that is set to open on 27 May.

Elsewhere in the GCC, Saudi Arabia is aiming for a combined future capacity of 140mn passengers per year by expanding its three major airports in Damman, Jeddah and Riyadh.

Hamad International Airport

Estimated value: $15.5bn
Expected date of completion: 2014

Qatar’s new Hamad International Airport (HIA) will open to all airlines, including the country’s national carrier, on May 27.The $15.5bn planned hub for Qatar Airways has missed a series of launch dates, including the end of 2012, 1 April 2013 and the end of last year.

Due to increased transit growth in Qatar and the region in the past few years, modifications were necessary to deliver an airport with a capacity of 30 million on opening day.

In its opening configuration, the terminal has three concourses and 33 contact gates, increasing to five concourses and 65 contact gates, including eight for the A380 in the final build-out.

The main contractor responsible for delivering the $15.5bn airport project is Bechtel.

Dubai World Central Al Maktoum International Airport

Estimated value: $8.1bn
Expected date of completion:

Eight airlines will be diverted to the airport starting May 1.

The airport once completed will have the capacity to handle 12 million tonnes of annual cargo capacity and 160 million passengers.

The first phase of the Dubai World Central Al Maktoum International Airport is completed and fully operational. The airport currently has the capacity to handle 600,000 tonnes per annum and operates 24 hours a day on an A380-compatible, 4.5 km runway.

Phase 2 of the airport, which includes the construction of an additional two automated and non-automated cargo terminals, is currently under way. This is expected to increase the total cargo capacity of the airport to 1.4 million tonnes per annum.

Costs for the entire DWC development, including all clusters, has been estimated in excess of $32bn (AED120bn).

For more Airports please click this link     TOP 10 Airports

Via : Construction Week Online

No.of Reads (232)

United Nations fund pays $990m in Kuwait-Iraq war compensation.

A United Nations panel that settles claims for damages resulting from Iraq’s 1990 invasion of Kuwait has paid out another $990 million.

The payment on Thursday by the UN Compensation Commission brings the total amount paid so far to the government of Kuwait to $45.5 billion.

The commission says the latest payment goes toward settling a claim by the Kuwait Petroleum Corp. for production and sales losses resulting from damage to the country’s oil fields.

The commission says another $6.9 billion remains to be paid from that award, which at $14.7 billion was the largest the panel made.

The Geneva-based commission was established by the UN Security Council in 1991 and is funded by a 5 per cent tax on the export of Iraqi oil. Iraq makes payments every three months.

Via : associated press

No.of Reads (197)

Arabtec will spend Dh140 billion on building one million low-cost houses in Egypt.

Arabtec will spend Dh140 billion on building one million low-cost houses in Egypt and Dh14 billion on five mixed-use, residential projects in Abu Dhabi and Dubai, its chief executive officer Hasan Abdullah Ismaik said.

Speaking to reporters on the sidelines of Cityscape Abu Dhabi, he also said one of Arabtec Holding companies, Arabtec Construction, will sell 40 per cent of its shares in an IPO next year.

“With a core focus on low- to middle-income housing, the company will soon announce a series of projects similar to the one in Egypt, which will take place across several countries, in the UAE and across the Arab world,” Ismaik said.

Arabtec will be developing three projects in Abu Dhabi and two in Dubai.The Abu Dhabi-based projects include the Saraya development, two high-quality luxury towers on the Abu Dhabi Corniche, which will be 40 and 46 stories high. The towers will include a total of 122 apartments, comprising three- and four-bedroom apartments, as well as duplex apartments, three townhouses and seven penthouses.The project is due for delivery towards the end of the year.

He said that Arabtec will build a five-star hotel on Reem Island, adjacent to Shams Abu Dhabi. The project will include branded serviced apartments, premium residential apartments and high-end retail outlets. The development will include 630 residential apartments including two and three bedroom apartments, as well as 184 serviced apartments and 4,600sqm of retail space.

Arabtec is also currently in discussions with international companies to manage the development’s luxury hotel, which will contain 398 rooms.The development will provide 809 parking spaces, as well as other recreational facilities such as swimming pools, gym and spa. This project is currently in the design phase, and is expected to be completed by 2018.The third Abu Dhabi-based project is the Rancho Ghantout Development, which is still in the master plan development and feasibility study phases.

In Dubai, Arabtec will develop two projects, Viceroy Tower and the development. Viceroy Tower development will consist of two towers located in the heart of Business Bay in Dubai. The first tower will offer a luxurious hotel with 440 rooms, while the second tower will have 136 serviced apartments. The towers will also provide top-of-the-line spa and health club facilities, and retail outlets servicing tenants and the area, as well as 630 parking spaces. The 123,000sqm project is set for completion in November 2015.

Located on Dubai’s Shaikh Zayed Road, it is a mixed-use development that will house a luxurious hotel and serviced apartments in addition to a variety residential apartments and boutique offices with top-of-the-line facilities.The hotel will house 180 residential apartments comprising one, two and three bedroom apartments, as well 215 serviced apartments and 8,148sqm of retail and commercial space.

The development’s five-star hotel will include 324 hotel rooms, to be managed by the internationally renowned Viceroy Hotel Group. The project is expected to be completed in February 2018.

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Tree-Like Shopping Center in Mexico is Built From Reused Railway Sleepers.

Tree Like Structure-1

The metal structure of the 2,000 square meter plaza echoes the verticality of the surrounding logs. Reused wooden railway sleepers serve as blinds that help control day lighting and indoor temperature. The buildings are interwoven with the natural environment to create a series of courtyards that establish a delicate interior-exterior dynamic.

Tree Like Structure-2

Read more: Tree-Like Plaza Andaro Shopping Center in Mexico is Built From Reused Railway Sleepers Plaza Andaro CANOVERA Arquitectura – Gallery Page 2 – In-habitat – Sustainable Design Innovation, Eco Architecture, Green Building.

Existing trees located in the center of the complex act as an organizational pivot point. The buildings overlook this area and provide connections to it that allow for circulation. The complex is an urban oasis that offers more than 20 exclusive shops.

The project received recognition for excellence in sustainability at the Salón Internacional de la Edificación (SAIE) 2014.

Link : http://www.plataformaarquitectura.cl/

 

 

 

 

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