Rents on property in Dubai, have fallen by up to 50%, with between 10 and 30% being the average, and even those on Palm Jumeirah have fallen by around a third. According to many analysts, though, whilst 2009 was the year of the fall, 2010 will be a stabilising year, and 2011 will be the year when the real recovery will happen.

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Danube Building Materials FZCO, the leading player in the building material, interior decoration and shop fitting industry, has reported annual revenues of AED 1 billion in 2009, despite the challenges the construction industry faced in the past year due to the global economic slowdown. The company has also announced its goal to achieve 50 per cent growth in 2010, as well as plans to open at least 12 more showrooms in malls and stand alone outlets across the region. Danube is especially upbeat about the first quarter of the year, stating its aims to secure 30 per cent out of its 50 per cent annual growth target within this period.

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Saudi Oil & Gas 2010, a business-to-business networking trade exhibition, has recently concluded a highly successful four-day run at the Riyadh International Exhibition Centre, facilitating SAR millions worth of new projects and business deals in Saudi Arabia. Saudi Oil & Gas 2010 revealed that the event’s impressive numbers in terms of participation and trade agreements reflect the enthusiasm and confidence of leading industry players to explore fresh business and investment opportunities as Saudi Arabia remains the most attractive growth destination in the oil and gas sector.

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Demand for workers equipped with solid project management skills has increased in the KSA following the government’s announcement of a 16 per cent increase in project spending to SAR 260 billion in 2010. The substantial rise in project funding is part of governmental efforts to attain a 4.5 per cent economic growth rate within the year.

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Lebanon’s project-driven sectors are increasingly relying on skills investment through project management (PM) training to minimize project failure as the country prepares to progress with the USD 1.8 billion worth of mega-construction projects launched in 2009. The significant increase in demand for PM practices will reinforce the country’s status as the region’s urban development hub, according to Collaboration, Management and Control Solutions (CMCS), a leading project portfolio management provider in the Middle East.

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