01 March 2005

Only six months after its launch, Meed projects, the online service that allows companies to track and compete for the region’s biggest contracts, has rapidly become an indispensable tool for businesses wanting a share of the Middle East’s multi-billion dollar project market, says a spokesman for Meed.

Senior managers at the company, which is backed by EMAP, publishers of Meed magazine, describe the response since its launch in September 2004 as “overwhelming”, with a large number of regional and international subscribers using the service to date.
“The value of new projects currently being tendered in the Gulf states, Iran and Iraq are simply staggering. The on-line service is already tracking more than $500 billion worth of activity in these markets, and this will be boosted by a further $312 billion of planned and budgeted activity over the next two years,” says the spokesman.
Not content with its initial success, the team at Meed projects is heading out on a Gulf tour to promote the service further, as well as to talk to people and get their feedback on how to improve the service.
“This is a booming project sector, and there has never been such a high demand for quality information about new projects than there is now,” says Ayman Razek, general manager sales.
“This is going to grow and grow. And if the analysts’ predictions are right, then the next two to five years will be an exciting period in the history of project development in the Middle East.”
“The reception the service has received since launch has been overwhelming,” says Razek. “We have been getting interest from both regional and international players, companies that are serious about winning new business in the region.”
Utilising the services of a team of more than 60 researchers across the region, together with Meed’s own network of experienced journalists, Meed projects provides users with up-to-the-minute information on the Middle East’s most high-value industrial projects in oil and gas, petrochemicals, power, water, waste-water, industry and construction.
Decision-makers using www.meedprojects.com are presented with key information about a project, including its value, status and contact details. Data on the top 1,000 projects in the region are posted, giving subscribers a competitive advantage when submitting bids for the work.
“One of our key advantages is the trust and reliability that surrounds the Meed brand, which has been instrumental in our success,” continues Razek. “There hasn’t been such a comprehensive service of this kind in the Middle East before. If you are a business that is serious about timely and accurate data on tenders, then the service is the most viable option for your data gathering and lead generation activities.”
Predictably, the Gulf states head the list of countries with the highest value of construction work. The UAE accounts for $147 billion of projects currently being tracked while Saudi Arabia has $90 billion worth of work out for tender, and Qatar $100 billion.

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Gulf Construction is the undisputed leading trade journal for the building and construction industries of Saudi Arabia and the other Gulf states. The magazine provides editorial coverage on a wide range of topics which are of interest to industry professionals. In addition, regular features highlight technological developments within specific industry fields. Launched 40 years ago, the magazine has established an enviable reputation as an authoritative, respected journal with unmatched coverage of the Gulf region. Gulf Construction is essential reading for anyone with a serious interest in the region’s building and construction industry.