Dubai Completes Solar Plant to Power 50,000 Homes

dubai_solar_park

Second phase of the Mohammed bin Rashid Al-Maktoum Solar Park includes 2.3m solar panels

Dubai on Monday completed a solar plant big enough to power 50,000 homes as part of a plan to generate three-quarters of its energy from renewables by 2050.

The 200 megawatt plant sprawls over 4.5 square kilometres (1.73 square miles) of desert and includes some 2.3 million photovoltaic panels.

It is the second phase of the Mohammed bin Rashid Al-Maktoum Solar Park, which is set to pump out a total of 1,000 megawatts by 2020, the Dubai Electricity and Water Authority said.

The $326 million second phase was built by a consortium including Saudi Arabia’s ACWA Power and Spain’s TSK.

DEWA chief Saeed al-Tayer said the operators would sell power to the public utility company.

The project is the “largest and first solar power project of its kind in the region”, he said.

“The state has begun early in preparing to say goodbye to the last drop of oil, through a clear strategy including investments in power generation plants that use various solar power technologies,” Tayer said.

The solar park’s first phase came online in 2013, with 152,000 panels producing 13 megawatts.

DEWA said in December the second phase of the project had set a world record for cheap solar energy, at 5.6 US cents (5.2 euro cents) per kilowatt hour.

Last year, DEWA awarded the third and final phase of the project, an 800 megawatt extension to the park, to a consortium led by Abu Dhabi’s Masdar.

The Gulf emirate currently has a total generating capacity of 10,200 megawatts, Tayer said.

Dubai is part of the oil-rich United Arab Emirates, but has few oil reserves itself.

The bulk of crude production is concentrated in Abu Dhabi.

Originally published by Arabian Business.

Remember, no problem has a quick fix solution. Thus, always ensure to consult highly knowledgeable group of professionals whom would provide you with a collective advice, never individual advice. This group advice and approach is unique with CWIIL Group and is based on the overall Management Philosophy of all CWIIL Group Companies.

Consulting CWIIL Group of Companies, for any / all investment matters ensures advice based on highest level of knowledge which are given to you by a team of select research-oriented experts whom each will do their own assessment of your matter, and also assess it together, thus ensuring that in case a mistake has been made by one, it will be noticed and corrected even before it is being passed on to you. Receiving incorrect and un-knowledgeable investment advice can be disastrous and thus should be avoided.

CWIIL Group of Companies is a global group of multi-specialised units with diversified interests and activities, wherein each company is a separate legal entity registered under prevailing laws in different parts of the world. CWIIL Group of Companies Products, Services, Project and Solutions are in a multitude of Verticals including, but not limited to, Infrastructure, Power, Oil & Gas, Legal, Media, Technology, ITES, HR, Shipping, Aviation, Real Estate, Hospitals, Health and Medicine, Education, Funding & Investment, Business and Legal Consultancy, and Public Private Partnerships, and other CWIIL Group Units, worldwide, to name a few.

For Further Queries Feel Free to Contact :

Mr. Mohammad Mukhtar Mustafa,
Deputy Global Director, No. 4,
Strategic Business & Intelligence Division,
Email : deputy.gd.4@cwiilgroup.eu
Voice : +45.8176.1923
Connect : LinkedIn – Twitter – Facebook – Quora

For Queries Specific to Middle East & North Africa :
Email : mena@cwiilgroup.com , hq@cwiilgroup.eu
Web : www.cwiilgroup.com , www.cwiilgroup.eu

For Any / All Other Queries :
CWIIL Group Global Regional Headquarters Denmark,
Address : No. 1, Klokkebjergevej, DK6900 Skjern, Denmark
Voice : +45.5148.3608
Fax : +45.7014.1498
Email : corpcomm@cwiilgroup.eu
Web : www.cwiilgroup.eu
Connect : LinkedIn – Twitter – Facebook – Quora

Office Hours :
Monday to Friday : 10.00 – 17.00 CET.
Saturday : 10.00 – 14.00 CET.
Sunday : Closed.

The Corporate Communications Team would require minimum a fortnight for Reviewing & Responding to Queries, which please note.

Advertisements

Gulf Markets Move Sideways In Early Trade

Gulf stock markets moved sideways in early trade on Monday with little fresh corporate news to spur buying, while uncertainty over oil prices also deterred some investors.

Saudi Arabia’s index was flat after 70 minutes of trade with most petrochemical companies little changed and the banking sector index edging down.

Real estate developer Jabal Omar gained 1.4 percent after saying it had ended a contract with builder Saudi Binladin Group, settling an outstanding 196 million riyal ($52.3 million) debt to Binladin by transferring to it ownership of units in a project.

Dubai’s index edged down 0.1 percent as Union Properties, the most heavily traded stock, pulled back 2.5 percent after leaping 11.4 percent on Sunday.

Abu Dhabi’s index dropped 0.6 percent as telecommunications blue chip Etisalat fell by the same amount, while Qatar edged down 0.3 percent as Qatar National Bank lost 0.5 percent.

Brent crude oil dropped 1.4 percent to below $47 a barrel in Asian trade on fears that producer countries meeting this week could fail to agree on a meaningful output cut.

Saudi Arabia’s energy minister, Khalid al-Falih, said on Sunday night that he believed the oil market would balance itself in 2017 even if producers did not intervene, and that keeping output at current levels could therefore be justified.

Originally published by Reuters.

Remember, no problem has a quick fix solution. Thus, always ensure to consult highly knowledgeable group of professionals whom would provide you with a collective advice, never individual advice. This group advice and approach is unique with CWIIL Group and is based on the overall Management Philosophy of all CWIIL Group Companies.

Consulting CWIIL Group of Companies, for any / all investment matters ensures advice based on highest level of knowledge which are given to you by a team of select research-oriented experts whom each will do their own assessment of your matter, and also assess it together, thus ensuring that in case a mistake has been made by one, it will be noticed and corrected even before it is being passed on to you. Receiving incorrect and un-knowledgeable investment advice can be disastrous and thus should be avoided.

CWIIL Group of Companies is a global group of multi-specialised units with diversified interests and activities, wherein each company is a separate legal entity registered under prevailing laws in different parts of the world. CWIIL Group of Companies Products, Services, Project and Solutions are in a multitude of Verticals including, but not limited to, Infrastructure, Power, Oil & Gas, Legal, Media, Technology, ITES, HR, Shipping, Aviation, Real Estate, Hospitals, Health and Medicine, Education, Funding & Investment, Business and Legal Consultancy, and Public Private Partnerships, and other CWIIL Group Units, worldwide, to name a few.

For Further Queries Feel Free to Contact :

Mr. Mohammad Mukhtar Mustafa,
Deputy Global Director, No. 4,
Strategic Business & Intelligence Division,
Email : deputy.gd.4@cwiilgroup.eu
Voice : +45.8176.1923
Connect : LinkedIn – Twitter – Facebook – Quora

For Queries Specific to Middle East & North Africa :
Email : mena@cwiilgroup.com , hq@cwiilgroup.eu
Web : www.cwiilgroup.com , www.cwiilgroup.eu

For Any / All Other Queries :
CWIIL Group Global Regional Headquarters Denmark,
Address : No. 1, Klokkebjergevej, DK6900 Skjern, Denmark
Voice : +45.5148.3608
Fax : +45.7014.1498
Email : corpcomm@cwiilgroup.eu
Web : www.cwiilgroup.eu
Connect : LinkedIn – Twitter – Facebook – Quora

Office Hours :
Monday to Friday : 10.00 – 17.00 CET.
Saturday : 10.00 – 14.00 CET.
Sunday : Closed.

The Corporate Communications Team would require minimum a fortnight for Reviewing & Responding to Queries, which please note.

Dubai Airport August Traffic Up 9.5% – Investment Advice from CWIIL Group of Companies

Dubai International Airport’s passenger numbers rose 9.5 per cent in August, its operator said on Wednesday, as capacity rose and residents returned from Eid holidays through one of the world’s busiest airport by international traffic.

Traffic rose to 7.28 million passengers from 6.65 million a year earlier, the airport operator said, taking the total so far this year to 52.3 million, up 12.4 per cent.

Growth in traffic was propelled by inbound traffic of residents returning from late-July Eid holidays, as well as by increased capacity to regions of North America, Russia and Commonwealth of Independent States by airlines Emirates and flydubai.

The heaviest traffic was on routes to the Indian subcontinent and the United Kingdom.

Cargo volumes rose 5.3 per cent in August to 207,427 tonnes. Some cargo operations have moved to Al Maktoum International – Dubai World Central (DWC).

These materials are not intended and should not be used as legal advice or other recommendation. If you need a legal opinion on a specific issue or factual situation, please contact a lawyer. Anyone using these materials should not rely on them as a substitute for legal advice.

Remember, no problem has a quick fix solution. Thus, always ensure to consult highly knowledgeable group of professionals whom would provide you with a collective advice, never individual advice. This group advice and approach is unique with CWIIL Group and is based on the overall Management Philosophy of all CWIIL Group Companies.

Consulting CWIIL Group of Companies, for any / all matters relating to investment ensures advice based on highest level of knowledge which are given to you by a team of select research-oriented experts whom each will do their own assessment of your matter, and also assess it together, thus ensuring that in case a mistake has been made by one, it will be noticed and corrected even before it is being passed on to you. Receiving incorrect and un-knowledgeable investment advice can be disastrous and thus should be avoided.

CWIIL Group of Companies is a global group of multi-specialized units with diversified interests and activities, wherein each company is a separate legal entity registered under prevailing laws in different parts of the world. CWIIL Group of Companies Products, Services, Project and Solutions are in a multitude of Verticals including, but not limited to, Infrastructure, Power, Oil & Gas, Legal, Media, Technology, ITES, HR, Shipping, Aviation, Real Estate, Hospitals, Health and Medicine, Education, Funding & Investment, Business and Legal Consultancy, and Public Private Partnerships, and other CWIIL Group Units, worldwide, to name a few.

For Further Queries Feel Free to Contact :

Mr. Mohammad Mukhtar Mustafa,
Deputy Global Director, No. 4,
Strategic Business & Intelligence Division,
Email : deputy.gd.4@cwiilgroup.eu
Voice : +45.8176.1923
Connect : LinkedIn – Twitter – Facebook – Quora

For Queries Specific to Middle East & North Africa :
Email : mena@cwiilgroup.com , hq@cwiilgroup.eu
Web : www.cwiilgroup.com , www.cwiilgroup.eu

For Any / All Other Queries :
CWIIL Group Global Regional Headquarters Denmark,
Address : No. 1, Klokkebjergevej, DK6900 Skjern, Denmark
Voice : +45.5148.3608
Fax : +45.7014.1498
Email : corpcomm@cwiilgroup.eu
Web : www.cwiilgroup.eu
Connect : LinkedIn – Twitter – Facebook – Quora

Office Hours :
Monday to Friday : 10.00 – 17.00 CET.
Saturday : 10.00 – 14.00 CET.
Sunday : Closed.

The Corporate Communications Team would require minimum a fortnight for Reviewing & Responding to Queries, which please note.

Dubai’s Union Properties Seeks $123m Loan to Fund New Project – Investment Advice by CWIIL Group

Dubai developer Union Properties is in talks to obtain a loan of up to about $123m to fund a 271-unit project in the emirate, a senior executive said on Thursday.

The company, Dubai’s fourth-largest listed real estate firm by market value, will also launch a tender for the construction contract of its Oia residential development next month, Ahmad al-Marri, Union Properties general manager told Reuters.

He predicted this would be awarded in January or February 2016.

Union Properties is in talks with a United Arab Emirates bank to borrow up to about Dhs 450m ($123m) to fund the building cost of Oia, said Marri. He declined to identify the lender.

“This is still under negotiation — we’ve not yet reached an agreement,” he said. “We will maybe reduce the amount because if we’re starting to sell off-plan that will cover part of the construction costs.”

Off-plan sales are of property units that have yet to be built. Sales will likely begin in the second quarter of 2016, said Marri.

The loan is likely to be signed in mid-2016, while the Oia project will be finished in 2018, Marri added.

These materials are not intended and should not be used as legal advice or other recommendation. If you need a legal opinion on a specific issue or factual situation, please contact a lawyer. Anyone using these materials should not rely on them as a substitute for legal advice.

Remember, no problem has a quick fix solution. Thus, always ensure to consult highly knowledgeable group of professionals whom would provide you with a collective advice, never individual advice. This group advice and approach is unique with CWIIL Group and is based on the overall Management Philosophy of all CWIIL Group Companies.

Consulting CWIIL Group of Companies, for any / all matters relating to investment ensures advice based on highest level of knowledge which are given to you by a team of select research-oriented experts whom each will do their own assessment of your matter, and also assess it together, thus ensuring that in case a mistake has been made by one, it will be noticed and corrected even before it is being passed on to you. Receiving incorrect and un-knowledgeable investment advice can be disastrous and thus should be avoided.

CWIIL Group of Companies is a global group of multi-specialized units with diversified interests and activities, wherein each company is a separate legal entity registered under prevailing laws in different parts of the world. CWIIL Group of Companies Products, Services, Project and Solutions are in a multitude of Verticals including, but not limited to, Infrastructure, Power, Oil & Gas, Legal, Media, Technology, ITES, HR, Shipping, Aviation, Real Estate, Hospitals, Health and Medicine, Education, Funding & Investment, Business and Legal Consultancy, and Public Private Partnerships, and other CWIIL Group Units, worldwide, to name a few.

For Further Queries Feel Free to Contact :

Mr. Mohammad Mukhtar Mustafa,
Deputy Global Director, No. 4,
Strategic Business & Intelligence Division,
Email : deputy.gd.4@cwiilgroup.eu
Voice : +45.8176.1923
Connect : LinkedIn – Twitter – Facebook – Quora

For Queries Specific to Middle East & North Africa :
Email : mena@cwiilgroup.com , hq@cwiilgroup.eu
Web : www.cwiilgroup.com , www.cwiilgroup.eu

For Any / All Other Queries :
CWIIL Group Global Regional Headquarters Denmark,
Address : No. 1, Klokkebjergevej, DK6900 Skjern, Denmark
Voice : +45.5148.3608
Fax : +45.7014.1498
Email : corpcomm@cwiilgroup.eu
Web : www.cwiilgroup.eu
Connect : LinkedIn – Twitter – Facebook – Quora

Office Hours :
Monday to Friday : 10.00 – 17.00 CET.
Saturday : 10.00 – 14.00 CET.
Sunday : Closed.

The Corporate Communications Team would require minimum a fortnight for Reviewing & Responding to Queries, which please note.

UAE Expects Strong Economic Growth – Professional Business Consultancy From CWIIL Group of Companies

The United Arab Emirates expects strong growth this year after its economy expanded by 4.6 percent last year, Prime Minister Sheikh Mohammed bin Rashid al-Maktoum said.

“We expect to continue to achieve strong growth in 2015,” Sheikh Mohammed, who is also the ruler of Dubai, said in a note on the state of the UAE economy, adding that the non-oil sector had experienced positive growth in the first quarter and highlighted a “continuing rise in government spending and the increase in government and private capital.”

However, inflation in Dubai in May jumped to 4.7 pct, the highest since May 2009.

Sheikh Mohammed stressed that the UAE, which is the world’s sixth-largest producer of crude oil, would “adhere to its long-term strategy to diversify its national economy.” He noted that the non-oil sector grew 8.1 percent in 2014 and that its contribution to the economy had reached 68.6 percent. “We have put in place all the necessary plans to take that contribution to as high as 80 percent in 2021,” he said.

This would be done “through intensive investment in the industrial and tourism sectors, air and maritime transport, import and re-export, as well as supporting a range of projects and initiatives based on the knowledge economy,” he added.

The financial sector posted a gain of 15 percent in 2014, while tourism continued to grow with some 20 million tourists visiting the country, he said.

These materials are not intended and should not be used as legal advice or other recommendation. If you need a legal opinion on a specific issue or factual situation, please contact a lawyer. Anyone using these materials should not rely on them as a substitute for legal advice.

Remember, no problem has a quick fix solution. Thus, always ensure to consult highly knowledgeable group of professionals whom would provide you with a collective advice, never individual advice. This group advice and approach is unique with CWIIL Group and is based on the overall Management Philosophy of all CWIIL Group Companies.

Consulting CWIIL Group of Companies, for any / all matters relating to investment ensures advice based on highest level of knowledge which are given to you by a team of select research-oriented experts whom each will do their own assessment of your matter, and also assess it together, thus ensuring that in case a mistake has been made by one, it will be noticed and corrected even before it is being passed on to you. Receiving incorrect and un-knowledgeable investment advice can be disastrous and thus should be avoided.

CWIIL Group of Companies is a global group of multi-specialized units with diversified interests and activities, wherein each company is a separate legal entity registered under prevailing laws in different parts of the world. CWIIL Group of Companies Products, Services, Project and Solutions are in a multitude of Verticals including, but not limited to, Infrastructure, Power, Oil & Gas, Legal, Media, Technology, ITES, HR, Shipping, Aviation, Real Estate, Hospitals, Health and Medicine, Education, Funding & Investment, Business and Legal Consultancy, and Public Private Partnerships, and other CWIIL Group Units, worldwide, to name a few.

For Further Queries Feel Free to Contact :

Mr. Mohammad Mukhtar Mustafa,
Deputy Global Director, No. 4,
Strategic Business & Intelligence Division,
Email : deputy.gd.4@cwiilgroup.eu
Voice : +45.8176.1923
Connect : LinkedIn – Twitter – Facebook – Quora

For Queries Specific to Middle East & North Africa :
Email : mena@cwiilgroup.com , hq@cwiilgroup.eu
Web : www.cwiilgroup.com , www.cwiilgroup.eu

For Any / All Other Queries :
CWIIL Group Global Regional Headquarters Denmark,
Address : No. 1, Klokkebjergevej, DK6900 Skjern, Denmark
Voice : +45.5148.3608
Fax : +45.7014.1498
Email : corpcomm@cwiilgroup.eu
Web : www.cwiilgroup.eu
Connect : LinkedIn – Twitter – Facebook – Quora

Office Hours :
Monday to Friday : 10.00 – 17.00 CET.
Saturday : 10.00 – 14.00 CET.
Sunday : Closed.

The Corporate Communications Team would require minimum a fortnight for Reviewing & Responding to Queries, which please note.

4 Tips For Doing Business In The Middle East – Professional Business Consultancy By CWIIL Group Of Companies

As you spin your globe wondering where you should expand your business next, your finger might reflexively glide past the Middle East. But you’re urged to revisit that opportunity. In particular, Dubai and Abu Dhabi – two pockets of relative stability – could be the launching pads that your business needs.

Not only are Middle Eastern markets rapidly growing, but these markets also have young populations and increasingly diverse economies. In fact, according to a recent survey, Dubai has one of the five fastest-growing economies in the world.

One reason is location. The Middle East, after all, is conveniently tucked between Europe, Asia and Africa. Factors such as an expanding middle class and urbanization are spurring consumer spending, and governments are promoting certain areas of the economy. In the UAE, for example, the government is paying special attention to the education, healthcare and transportation sectors.

Rules and laws are also favorable to businesses. In Dubai, for instance, there’s a customs-free corridor between the airport and the port, meaning raw materials can be imported and exported free of charge.

Still, much like any global endeavor, you must consider the cultural nuances and unique characteristics of doing business in the Middle East before you dive in. Here are four tips for success that I learned when my company expanded to the Middle East:

1. Be Careful With Language

There are different languages in the region, so you must take care to note the variations. For example, an Iranian razor company adopted the brand name “Tiz” because it’s the Persian word for “sharp.” However, “tiz” is also an Arabic slang word for “buttocks.” As you might imagine, razor sales took a nosedive.

2. Hire People Who Can Bridge The Culture Gap

Talent identification is critical. Your best employees will be able to operate locally and understand Western business practices. I.e. a UK-based company hiring a native who is fluent in Arabic and English as a managing director; an individual with extensive work experience in the Middle East and received his MBA in the UK or other Western country (experience with the culture).

3. Spend Time In The Region

Relationships are very important in the Middle East, and they take time to develop. Once you spend some time in the region, you’ll be better able to identify important cultural nuances. For example, while speedy decisions are often valued in the United States, the decision-making process takes longer in the Middle East.

4. Keep Track Of Local Customs

Religious holidays are incredibly important and tend to move around each year. The local sheikhs play a critical role in all areas, including business; i.e. a trade show can come to a standstill because the local sheikh has to privately tour the show before it can open.

You also should understand some of Islam’s basic tenets. For example, you’ll often hear the term “Inshallah” – which means “if Allah wills” or “God willing” – used in business settings. At the very least, knowing that might put your intense business negotiations in another context.

Any new market has special challenges. In the Middle East, these include language and culture, but learning how to navigate this market is well worth the effort. With the Middle East’s growth potential and welcoming attitude toward new business, you are sure to find enticing opportunities.

These materials are not intended and should not be used as legal advice or other recommendation. If you need a legal opinion on a specific issue or factual situation, please contact a lawyer. Anyone using these materials should not rely on them as a substitute for legal advice.

Remember, no problem has a quick fix solution. Thus, always ensure to consult highly knowledgeable group of professionals whom would provide you with a collective advice, never individual advice. This group advice and approach is unique with CWIIL Group and is based on the overall Management Philosophy of all CWIIL Group Companies.

Consulting CWIIL Group of Companies, for any / all matters relating to investment ensures advice based on highest level of knowledge which are given to you by a team of select research-oriented experts whom each will do their own assessment of your matter, and also assess it together, thus ensuring that in case a mistake has been made by one, it will be noticed and corrected even before it is being passed on to you. Receiving incorrect and un-knowledgeable investment advice can be disastrous and thus should be avoided.

CWIIL Group of Companies is a global group of multi-specialized units with diversified interests and activities, wherein each company is a separate legal entity registered under prevailing laws in different parts of the world. CWIIL Group of Companies Products, Services, Project and Solutions are in a multitude of Verticals including, but not limited to, Infrastructure, Power, Oil & Gas, Legal, Media, Technology, ITES, HR, Shipping, Aviation, Real Estate, Hospitals, Health and Medicine, Education, Funding & Investment, Business and Legal Consultancy, and Public Private Partnerships, and other CWIIL Group Units, worldwide, to name a few.

For Further Queries Feel Free to Contact :

Mr. Mohammad Mukhtar Mustafa,
Deputy Global Director, No. 4,
Strategic Business & Intelligence Division,
Email : deputy.gd.4@cwiilgroup.eu
Voice : +45.8176.1923
Connect : LinkedIn – Twitter – Facebook – Quora

For Queries Specific to Middle East & North Africa :
Email : mena@cwiilgroup.com , hq@cwiilgroup.eu
Web : www.cwiilgroup.com , www.cwiilgroup.eu

For Any / All Other Queries :
CWIIL Group Global Regional Headquarters Denmark,
Address : No. 1, Klokkebjergevej, DK6900 Skjern, Denmark
Voice : +45.5148.3608
Fax : +45.7014.1498
Email : corpcomm@cwiilgroup.eu
Web : www.cwiilgroup.eu
Connect : LinkedIn – Twitter – Facebook – Quora

Office Hours :
Monday to Friday : 10.00 – 17.00 CET.
Saturday : 10.00 – 14.00 CET.
Sunday : Closed.

The Corporate Communications Team would require minimum a fortnight for Reviewing & Responding to Queries, which please note.

Global VCs Investing In MENA Are Like Pink Diamonds: Rare But Existent – Investment Advice From CWIIL Group of Companies

Towards the end of 2014 Wamda published an interview with Lebanese VC Khaled Nasr. He said, quite plainly, that if you’re a Middle Eastern startup it’s highly unlikely you’ll get money from a US VC. That’s a sad thought (especially when access to funding within the region has also been tough).

Indeed, in another article from February of this year we learned that there’s “still not much entrepreneurship activity in the MENA region.” While Nasr is still of the opinion that Silicon Valley VCs are highly unlikely to invest in MENA startups, a fair bit of Googling and chatting to contacts led to realize that global VCs moving into the region are a bit like pink diamonds: beautiful and rare, but more importantly, existent.

Who’s Investing?

Silicon Valley investment numbers are not that low, but if we compare them with investments within the US or Europe, then yes, they are few and far between. However, there are notable exceptions to this. Germany’s Rocket Internet has been making waves in the region since its investments in Namshi and Mizado in 2012. They opened offices in Dubai, and have since made investments and purchases worth hundreds of millions of dollars, with their Middle East Internet Group.

Currently Fenox, which has yet to declare any investments in regional startups, is the only Silicon Valley-based VC to have set up office in the UAE. Brent Traidman, General Partner at Fenox Venture Capital, told Wamda that even though US and UK markets continue to serve well, their VC was looking to “focus on emerging markets where we witness the biggest growth opportunities.” So, in April 2014 the VC announced the launch of its $100 million fund for startups in the developing world (in December it also launched a $200 million fund for Bangladesh).

To do so they partnered with Dubai-based Innovation 360. But this took some time. Traidman said that they started by sponsoring and mentoring local startups, then performed due diligence to really gauge the appetite for a VC fund. “With the recent surge in incubators, accelerators, and early stage startups in the GCC, we seized the opportunity to get in early.”

For Traidman the increasing population of the region, as well as the massive mobile penetration, cannot be overlooked. “We see this number continuing to rise quickly in the next five to seven years, which gives us the opportunity to start investing prior to mass adoption.”

Other venture capital companies that have added MENA-based startups to their portfolios also include Lumia Capital; San Francisco’s Rise Capital which raised a $100 million maiden fund specifically for early stage expansion of companies in emerging markets in 2014; Belgium’s Hummingbird Ventures which invested in MarkaVIP back in 2012; and South Africa’s Naspers which invested the sizeable $75 million in souq.com in 2014.

What Has Been Holding Investors Back? 

Talk to someone Stateside and you get an obvious answer. “There is this attitude of ‘if I can’t drive to a portfolio then it’s not worth investing in,’ which is frankly extremely unfortunate,” says San Francisco-based entrepreneur Mohannad El-Khairy. “Especially because when you look at those living in the Valley, like 50% are not from the US.”

With his company, NXT Innovation, El-Khairy often has the challenge of showing off the qualities of a MENA-based startup to US-based corporations: putting tech startups within reach of corporations in order to facilitate innovation within the corporation.

As a result, startups have been aiming to get themselves to Silicon Valley in order to scale, rather than staying in the region. Wally, the Dubai-based personal finance app, is currently in the Valley, as is the Bahraini startup Utrack.tv. Another which has recently returned from a stint there is the Cairo-based obituary website ElWafeyat.com.

Yousef El Sammaa, cofounder of El Wafeyat, concurs with El-Khairy’s point after his four months spent in California with 500 Startups. “We met a lot of potential investors who were interested in our model but rarely were they interested in investing outside of US, or even California.” El Sammaa added that investors felt that it would be an issue if they couldn’t get to an investment within two or three hours to sort out a problem. Also, investors are reluctant to invest in markets they don’t understand well – and they’re happy to admit that they don’t understand the MENA.

As part of its write up on the Middle East, in their Global Startup Series, 500 Startups said: “It’s clear that a major entrepreneurial shift is taking place in the Middle East and the startup scene has grown exponentially in the past few years.” And they are right. However, certain things are still lacking, notably funding to take many startups to the next level.

“One challenge that we face is that there is currently a lack of Series B, C and D [funding],” Traidman noted. Commonly known as ‘middle series funding’ it is very important but not as popular as seed and Series A, nor final round investments. “This is a critical time in a startup’s life that enables them to hire the right talent, develop products and patents, as well as start to grow to a more mature level of user traction and revenue.”

Moving Forward

Putting these regional startups in a context that foreign investors can understand will help with their appeal. In April AstroLabs Dubai will be opening its temporary coworking space, ahead of its official opening as a Google Tech Hub space.

Here the ecosystem can see movement in both directions. AstroLabs’ partnership with India’s Nasscom 10,000 Startups program will be providing soft landing packages for startups coming to the region from India. Louis Lebbos, AstroLabs’ founder, also told Wamda that this kind of partnership would be soon extended to Russia, Turkey, Pakistan, and Morocco. “We will have many international investors come to the space to meet the startups in our community and the wider ecosystem.”

The impact of 500 Startups in the region is also being felt. Since 2011 they have invested in 17 startups in five regional countries. From Jordan’s Jeeran to ShopGo, a total of $2 million has found its way to the region. Investors in the Asian market are not shy of MENA either.

Frontier Digital Ventures are a Kuala Lumpur-based VC which has already invested in Dubai’s propertyfinder.ae. The company is very focused now on the MENA region’s classifieds sector, on the hunt for automotive and property verticals. “It’s an exciting and diverse region,” says Shaun Di Gregorio of Frontier Digital Ventures. “You’ve got markets the size of Egypt, right down the small but wealthy Gulf states.”

So, like the pink diamond, once you’ve found one, you can safely say you’ve hit the mother lode.

These materials are not intended and should not be used as legal advice or other recommendation. If you need a legal opinion on a specific issue or factual situation, please contact a lawyer. Anyone using these materials should not rely on them as a substitute for legal advice.

Remember, no problem has a quick fix solution. Thus, always ensure to consult highly knowledgeable group of professionals whom would provide you with a collective advice, never individual advice. This group advice and approach is unique with CWIIL Group and is based on the overall Management Philosophy of all CWIIL Group Companies.

Consulting CWIIL Group of Companies, for any / all matters relating to investment ensures advice based on highest level of knowledge which are given to you by a team of select research-oriented experts whom each will do their own assessment of your matter, and also assess it together, thus ensuring that in case a mistake has been made by one, it will be noticed and corrected even before it is being passed on to you. Receiving incorrect and un-knowledgeable investment advice can be disastrous and thus should be avoided.

CWIIL Group of Companies is a global group of multi-specialized units with diversified interests and activities, wherein each company is a separate legal entity registered under prevailing laws in different parts of the world. CWIIL Group of Companies Products, Services, Project and Solutions are in a multitude of Verticals including, but not limited to, Infrastructure, Power, Oil & Gas, Legal, Media, Technology, ITES, HR, Shipping, Aviation, Real Estate, Hospitals, Health and Medicine, Education, Funding & Investment, Business and Legal Consultancy, and Public Private Partnerships, and other CWIIL Group Units, worldwide, to name a few.

For Further Queries Feel Free to Contact :

Mr. Mohammad Mukhtar Mustafa,
Deputy Global Director, No. 4,
Strategic Business & Intelligence Division,
Email : deputy.gd.4@cwiilgroup.eu
Voice : +45.8176.1923
Connect : LinkedIn – Twitter – Facebook – Quora

For Queries Specific to Middle East & North Africa :
Email : mena@cwiilgroup.com , hq@cwiilgroup.eu
Web : www.cwiilgroup.com , www.cwiilgroup.eu

For Any / All Other Queries :
CWIIL Group Global Regional Headquarters Denmark,
Address : No. 1, Klokkebjergevej, DK6900 Skjern, Denmark
Voice : +45.5148.3608
Fax : +45.7014.1498
Email : corpcomm@cwiilgroup.eu
Web : www.cwiilgroup.eu
Connect : LinkedIn – Twitter – Facebook – Quora

Office Hours :
Monday to Friday : 10.00 – 17.00 CET.
Saturday : 10.00 – 14.00 CET.
Sunday : Closed.

The Corporate Communications Team would require minimum a fortnight for Reviewing & Responding to Queries, which please note.

Now Is The Right Time To Invest In MENA’s Tech Scene – Investment Advice From CWIIL Group

Away from the screaming headlines about gloom and doom in the Arab world is the rarely told story of a trend whose promise is nothing short of transformative. The rise of the digital economy has, for the first time in decades, turned the region into the site of a remarkable market opportunity that, if tapped, would take it on an entirely new economic trajectory.

With a collective GDP of US$2.85 trillion, the Arab world ranks among the top ten largest economies; larger than that of India, Russia or Brazil. More than half of the 369 million-strong population are under the age of 25, and the burgeoning middle class is young, educated and globally connected. Tellingly, over the past few years the levels of connectivity have been increasing drastically. Between 2007 and 2012, internet penetration jumped 294%, while mobile data traffic grew 107% in 2013, compared to 86% in Asia Pacific, 77% in North America and 57% in Western Europe. Moreover, the recent roll-out of low-cost affordable smartphones in emerging economies is sure to accelerate broadband penetration. Soon, social and mobile technologies will be within everyone’s reach.

Through ever higher connectivity, entrepreneurial activity and easy access to technologies that are lowering the costs and barriers to starting a business, the Arab world is positioning itself as a hub for innovation, disruption and growth. In fact, entrepreneurial vigor is already palpable across various Arab cities, from Cairo to Amman, Dubai to Jeddah to even war-torn Gaza. Startup investments have actually tripled between 2009 and 2012. In co-working spaces, accelerators and university halls, there is a new breed of tech-savvy entrepreneurs who are building products and technologies that are catching up with global trends (digital content and e-commerce) or solving big problems (e-payments, ed-tech, health and green energy). PayFort and Telr are tackling head-on inefficient online payment systems to boost e-commerce, while Nefham, EdraakTahrir Academy and SkillAcademy are using the power of technology and MOOCs to make online education more accessible to Arab youth.

Startups are not just disrupting the education and payment sectors, but also a whole range of markets, from real estate (AqarMap and Property Finder) to food delivery (Foodonclick and iFoodi.jo) to digital and social media marketing (The Online Project) to online recruitment and job placements, (Akhtaboot and Bayt.com) to big data, (Eqlim.com). One of the most interesting is Jamalon, a Jordanian startup that is set to disrupt the archaic Arab book distribution industry.

Digital Arabic content is actually one of the new economy’s most high-performing industries. One study mentions that today’s market size is in billions. Saudi Arabia ranks at number one globally in YouTube views per capita. UTURN, a Saudi startup that produces local, high quality online entertainment, has 286 million views so far. Similarly, Jordan-based creative company Kharabeesh has garnered, to date, around 365 million views and more than three million subscribers.

In fact, digital Arabic content has always been a fertile field for local startups. It is where the real potential of the tech scene first proved itself with the rise and eventual sale of Maktoob to Yahoo! in 2009. After the acquisition, Maktoob’s founders created several new companies including Souq.com, now under Jabbar Internet Group. Maktoob is the story of one successful exit, that helped kick off e-commerce, which today is the region’s fastest emerging market, surging from almost zero in 2008 to $9 billion in 2012. According to a study by PayPal, projections point to robust growth that could well reach $15 billion in 2015.

In the last couple of years, international and local funds have invested more than $250 million in the e-commerce industry. Leading investors, among them Naspers, Tiger Global Management, Rocket Internet, J.P. Morgan, Lumia Capital and Abdel Latif Jameel, have poured funding mainly into Souq.com, MarkaVIP and Namshi. Commonly referred to as the Middle East’s Amazon, Souq.com, founded in 2005, raised a total of $150 million in financing, with the latest round valuing the company at over $500 million.

Yet access to funding is still one of the main challenges startup founders face in scaling their businesses, as indicated by a recent study published by Wamda Research Lab (WRL). According to the survey, of the businesses that received funding between 2009 and 2012, only 21% raised more than $500,000. With 36% of entrepreneurs mentioning the lack of sufficient venture investments as a major barrier to scalability, it is obvious that more startup financing is needed, and investments larger than $500,000 are a pressing priority.

But it is a measure of the dynamism of the digital economy that it has been consistently delivering such an impressive performance in spite of the hurdles. For example, the response from the young startup investment landscape has been rather swift. Among the leaders in this space are incubators and accelerators, such as Oasis500, Flat6Labs and Gaza Sky Geeks, as well as early stage and venture capital funds, such as MENA Venture Investments, DASH Ventures, BECO Capital and iMena. Wamda Ventures is launching a scalability fund focused on growth companies in the internet space. Similarly, Middle East Venture Partners (MEVP) and Silicon Badia have launched funds focused on the same industries.

There are also corporate funds investing in the region’s tech sphere, such as MBC Ventures, STC Ventures and Vodafone Ventures. In parallel, in countries like Lebanon, the Central Bank has allocated $400 million to guarantee up to 75% of Lebanese banks’ equity investments in SMEs, incubators, accelerators and funds.

Significantly, the momentum is not only regional. Rocket Internet and MTN‘s recent partnership to invest around $400M in e-commerce, as well as 500Startups‘ active investment in outfits in Amman and Dubai are just two examples of growing international interest in local tech opportunities. At the same time, the Arab expatriate community in Silicon Valley has been playing an active role in bridging the Middle East and U.S. markets. TechWadi, for one, is leveraging its network to connect the region’s startups with U.S. mentors, capital and accelerators.

Moreover, according to WRL’s mapping, since 2008, there has been a sharp increase in the number of institutions supporting entrepreneurs in the Arab world. Currently, there are over 140 organizations actively working with regional startups. Wamda, Endeavor, Dubai SME and MIT Enterprise Forum Pan Arab Region have facilitated access to knowledge, networks and new markets.

The Arab world’s rising digital economy is dynamic, exciting and ripe for exponential growth. It is the right time to invest in it. Supported by patient capital, Arab startups will run with every opportunity. There will come a day when the next Alibabas will emerge from the Arab World, and if players pool their capital, resources and networks to support the rising generation of tech entrepreneurs, that day will come sooner than we dare hope.

These materials are not intended and should not be used as legal advice or other recommendation. If you need a legal opinion on a specific issue or factual situation, please contact a lawyer. Anyone using these materials should not rely on them as a substitute for legal advice.

Remember, no problem has a quick fix solution. Thus, always ensure to consult highly knowledgeable group of professionals whom would provide you with a collective advice, never individual advice. This group advice and approach is unique with CWIIL Group and is based on the overall Management Philosophy of all CWIIL Group Companies.

Consulting CWIIL Group of Companies, for any / all matters relating to investment ensures advice based on highest level of knowledge which are given to you by a team of select research-oriented experts whom each will do their own assessment of your matter, and also assess it together, thus ensuring that in case a mistake has been made by one, it will be noticed and corrected even before it is being passed on to you. Receiving incorrect and un-knowledgeable investment advice can be disastrous and thus should be avoided.

CWIIL Group of Companies is a global group of multi-specialized units with diversified interests and activities, wherein each company is a separate legal entity registered under prevailing laws in different parts of the world. CWIIL Group of Companies Products, Services, Project and Solutions are in a multitude of Verticals including, but not limited to, Infrastructure, Power, Oil & Gas, Legal, Media, Technology, ITES, HR, Shipping, Aviation, Real Estate, Hospitals, Health and Medicine, Education, Funding & Investment, Business and Legal Consultancy, and Public Private Partnerships, and other CWIIL Group Units, worldwide, to name a few.

For Further Queries Feel Free to Contact :

Mr. Mohammad Mukhtar Mustafa,
Deputy Global Director, No. 4,
Strategic Business & Intelligence Division,
Email : deputy.gd.4@cwiilgroup.eu
Voice : +45.8176.1923
Connect : LinkedIn – Twitter – Facebook – Quora

For Queries Specific to Middle East & North Africa :
Email : mena@cwiilgroup.com , hq@cwiilgroup.eu
Web : www.cwiilgroup.com , www.cwiilgroup.eu

For Any / All Other Queries :
CWIIL Group Global Regional Headquarters Denmark,
Address : No. 1, Klokkebjergevej, DK6900 Skjern, Denmark
Voice : +45.5148.3608
Fax : +45.7014.1498
Email : corpcomm@cwiilgroup.eu
Web : www.cwiilgroup.eu
Connect : LinkedIn – Twitter – Facebook – Quora

Office Hours :
Monday to Friday : 10.00 – 17.00 CET.
Saturday : 10.00 – 14.00 CET.
Sunday : Closed.

The Corporate Communications Team would require minimum a fortnight for Reviewing & Responding to Queries, which please note.