Saudi Arabia plans airport takeovers and privatisations

scion Industrial Engineering

Saudi Arabia plans to convert its airport operators into holding companies and transfer them to its powerful sovereign wealth fund with a view to eventual privatisation for some, the head of Saudi Arabia General Authority of Civil Aviation said on Monday.

Abdulaziz al-Duailej told the Saudi-owned Asharq Al-Awsat newspaper that Abha International Airport is being put on “the privatisation path” and is going through final technical and economic studies.

Airports in Taif and Qassim are also proposed for privatisation, he said, adding that requests to invest in the kingdom’s aviation sector are being studied.

The kingdom’s 22 airports will be set up as airport holding companies, which will oversee construction, operation and management. They will then be transferred to the Public Investment Fund (PIF) to “put on the market at a later time”, the newspaper reported.

The PIF is at the centre of Saudi Arabia’s Vision 2030 plans to transform the economy and reduce its dependence on oil.

Investments in the Saudi aviation sector, including in airports, freight, catering, maintenance and ground services, will be offered to local and foreign investors, Duailej told Asharq Al-Awsat.

Saudi Arabia aims to serve 330 million air passengers by 2030, more than triple the 100 million in 2019, he said.

The oil-rich kingdom’s aviation strategy includes expansion of existing airports and a focus on two large airports in Riyadh and Jeddah, as well as plans to set up a new national carrier.

Source:https://economictimes.indiatimes.com/news/international/saudi-arabia/saudi-arabia-plans-airport-takeovers-and-privatisations-reports/articleshow/88391759.cms

UDC’s The Pearl and Gewan Islands win 11 accolades

scion Industrial Engineering

United Development Company (UDC), a leading Qatari public shareholding company and the master developer of The Pearl and Gewan Islands, recently won 11 accolades in the 2021 Arabian Property Awards.

The Pearl Island awards include Mixed Use Development award, Leisure Development award for Corinthia Yacht Club, Leisure Architecture award for Corinthia Yacht Club, Retail Architecture award for Giardino Mall, and Public Service Development award for United School International.

The Gewan Island awards include Mixed Use Architecture award, Leisure Development award, New Hotel Construction & Design award for Corinthia Gewan Island Qatar Hotel, Hotel Architecture award for Corinthia Gewan Island Qatar Hotel, Leisure Architecture award for Gewan Island Villas, and Public Service Architecture award for Gewan Bridge.

Commenting on the recognition, Ibrahim Jassim Al Othman, UDC President, CEO and Member of The Board said: “These prestigious awards are a strong affirmation of our commitment in making The Pearl and Gewan Islands some of the region’s most remarkable destinations providing an integrated and unique lifestyle, leisure and community experience to our residents and visitors. UDC’s signature quality and innovation are therefore evidenced throughout all our new residential, retail, entertainment and hospitality projects which led to us winning many awards namely for Corinthia Yacht Club, Giardino Mall and United School International at The Pearl-Qatar as well Gewan Island Villas, Gewan Bridge and Corinthia Gewan Island Qatar Hotel”.

Having won the Mixed-Use Development award for the fifth time, The Pearl Island incorporates a variety of distinct properties including apartments, villas, townhouses, penthouses, diverse entertainment facilities and retail offerings, in addition to beautiful, serene beaches and the award-winning Porto Arabia marina which is also the Middle East’s largest marina.

UDC continues to enhance its offerings at The Pearl Island with the construction of luxury residential villa compounds and shopping centres in Floresta Gardens and Giardino Village where the award-winning Giardino Mall and United School International are being constructed in addition to the exclusive double award winner Corinthia Yacht Club in Porto Arabia.

UDC is also going forward with the development of Gewan Island which has crossed the halfway mark. The Island will comprise several award-winning structures including the double award winner ‘Corinthia Gewan Island Qatar’ Hotel with its connected Beach Club and Golf Course, as well as 657 residential units, including 586 apartments and the second-time winner private villas consisting of 21 beachfront villas with a private beach, 26 waterfront villas that are equipped with private pontoons for private boats and six independent island mansions.

Gewan Island’s unique mixed-use architecture and leisure offerings further encompass a lively retail hub at the heart of the Island surrounded by an air conditioned outdoor ‘Crystal Walkway’ and seaside ‘Promenade’, with public parks and green areas as well as comprehensive leisure facilities for residents. The Island will also be accessible via Qatar’s first curved stay cable ‘Gewan Bridge’ which has also been recognised for its unique architecture promising to be a landmark and an engineering masterpiece that complements Gewan Island’s distinct character. Bridge development works are at 75% scheduled to be fully completed by year-end.

The Arabian Property Awards are considered the largest, most prestigious, and widely recognised award programme marking their 28th year. The awards therefore reflect UDC’s leading position ahead of hundreds of firms across 45 real estate categories including residential and commercial properties that have been carefully appraised by a panel of 80 international experts led by three members of the UK’s House of Lords. The evaluation is based on criteria such as design, quality, services, innovation and commitment to sustainability.

Source:https://thepeninsulaqatar.com/article/18/11/2021/udcs-the-pearl-and-gewan-islands-win-11-accolades

New Competition for Libyan Entrepreneurs

Libyan Entrepreneurs

I. Competition format:

1. Deadline: 12:00 PM US ET on December 28, 2017 Online applications submitted.
2. January 2018: Applications reviewed by GIST Tech-I Alumni Mentors.
3. January/February 2018: Three applications from each Alumni Mentor will be voted on by the online global public.
4. April 16-19, 2018: Finalists attend the Global Entrepreneurship Congress.
5. April 16, 2018: Finalists pitch in front of judges for seed capital prizes.
6. April 2018: Finalists travel all-expenses paid to Turkey for one-day of in-person training.

II. Competition Overview:

The GIST Technology Idea (Tech-I) Competition is an annual competition for science and technology (S&T) entrepreneurs from 136 emerging economies around the world. The competition is part of the Global Innovation through Science and Technology (GIST) initiative, led by the U.S. Department of State. The GIST Tech-I Competition is implemented by the American Association for the Advancement of Science (AAAS). This year, the competition will challenge former GIST Tech-I finalists (GIST Tech-I Alumni) to lead and mentor the next generation of tech entrepreneurs in their countries and regions. A select group of GIST Tech-I Alumni, called Alumni Mentors, will solicit and help select science and technology entrepreneurs with either an idea or startup in their region to join them at the 2018 Global Entrepreneurship Congress (GEC) in Istanbul, Turkey to pitch their idea or startup.

GIST Tech-I Alumni Mentors will solicit applications from new science and technology entrepreneurs globally to participate in the GIST Tech-I Competition over a month-long application period. At the end of that month, Alumni Mentors will review the submitted applications and nominate to AAAS three top applicants as semi-finalists to enter a voting phase.

Semi-finalists will participate in online public voting on GISTNetwork.org to determine which will go on as finalists. The ten semi-finalists that receive the top voting totals, and the GIST Tech-I Alumni Mentors who solicited those applications will go to the GIST Tech-I Finals where they will receive training, attend GEC, and have the opportunity to pitch their idea or startup to win capital seed funds.

III. Eligibility Requirements for Applicant

Applicants must meet ALL of the following eligibility requirements:

1. The applicant must be 18-40 years old on the application deadline, December 28, 2017.
2. The applicant must be a Libyan citizen.
3. The applicant must not hold dual-citizenship or permanent resident status in a non-GIST economy.
4. The applicant must not submit more than one application per GIST Tech-I competition year.
5. The applicant must not be a previous GIST Tech-I finalist who traveled to and competed in the GIST Tech-I Finals at GES.

In addition to meeting the applicant requirements above, applications must to be for Ideas or Startups that met ALL of the following requirements:

1. The application must be the original work of the Idea or Startup applicant.
2. The Idea or Startup must be developing an innovative science or technology solution with market potential in a GIST-eligible economy.
3. The Idea or Startup must be for-profit. Applications from non-profit ventures or NGOs are not eligible and will not be reviewed.
4. The Startup must be less than three years old.
5. The Idea or Startup must be, at least in part based, in a GIST-eligible economy.
6. The Idea or Startup must be developing or selling products and services that use its own innovations in science and technology. Applications from organizations that buy and resell technologies will not be reviewed.
7. The Idea or Startup must not submit more than one application per GIST Tech-I competition year.

Do you still have questions about eligibility? Check out this page or contact tech-i@gistnetwork.org

VI.. How to apply?

Prospective applicants will go to GISTNetwork.org to apply

• The applicant will complete a standard application form and will select an Alumni Mentor to work with should they be selected to continue in the competition.
• The GIST Tech-I Application consists of:
o A 100-word short summary of your project, to be used on the public voting website, if your project advances to semifinals. Your short summary must be in English.
o Brief eligibility questions.
o Responses to several questions that address the Judging Criteria listed in section VII here. Each response is limited to 100 to 150-words. All responses must be in English.
o A 90-second pitch video in English or with English subtitles provided. Formats accepted include.MOV, .MPEG4, .MP4, .AVI, .WMV, .MPEGPS, .FLV, .3GPP, and .WebM.
See examples from previous participants on YouTube. All application materials must be submitted through the online portal before the deadline.

Source:http://www.libya-businessnews.com/2017/12/19/new-competition-for-libyan-entrepreneurs/