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GCC Residential Real Estate over the past decade, GCC region has witnessed rapid economic development and demographic changes.
Qatar won the honors for hosting one of the biggest sporting events in the world on Dec 2nd, 2010, when the country secured the bid to host the 2022 edition of the FIFA World Cup.
The size of the e-commerce business in the GCC is less than USD 6bn, while countries in Asia-Pacific, North America and Western Europe presently account for 90 per cent of the global e-commerce sales.
Wealth management has undergone a significant change since the onset of the financial crisis. GCC region’s Ultra high net worth and High Net Worth investors have traditionally booked much of their investments outside the region in order to diversify. They are assisted by wealth managers registered in the traditional financial centers of Geneva, Switzerland and London. Private banking is the name of the game when it comes to dealing with UHNWIs of the region and the expectations about performance fees charged has also changed since the financial crisis.
The GCC airline industry is growing at a very high pace, primarily the Low Cost Carriers (LCC), as it is a relatively new market in the region. The LCC segment in the GCC remains under penetrated as compared to the markets like US and Europe. The adoption of open sky policies by a few GCC countries and evolution of few LCCs have changed the airline business scenario as a whole. LCCs are expected to play a prominent part in the future of GCC aviation.
After the global financial crisis, the trend in GCC office real estate can be summed up by increased supply and sluggish demand. While office space upgrade, from lower quality to higher quality, might keep up the office real estate activity in short term, the long run growth of market is dependent on the growth of non-hydrocarbon and private sectors in GCC region. Increasing government expenditure in real estate projects across the GCC will lead to further decline in office rentals, and possible increase in vacancy rates.
Asset management industry which acts as a vital link between investors seeking investment avenues and institutions with financial needs, offers immense potential for growth in the region. Significant growth opportunities offered by the prospects of economic growth in the region driven by oil wealth, against a bleak outlook globally argue favourably for the industry.
The Islamic Finance sector majorly comprises of Islamic Banking, Sukuk (Islamic Bonds), Takaful (Islamic Insurance) and Islamic Mutual Funds. The sector also includes Islamic real estate, Sharia-compliant consumer credit options, and Sharia compliant Project Finance. Islamic Finance worldwide has witnessed a phenomenal growth over the last decade.
Information Communication Technology (ICT) is in constant growth in quest with economic and demographic trends of Kuwait.
Kuwait is one of the leaders in the world, as far as the per capita consumption of power is concerned.
Qatar is one of the few countries in the Gulf, where power generation has grown considerably in the last decade.
Among the GCC economies, Saudi Arabia can be addressed as the most aggressive nation with respect to investments in the Power sector.