{"id":2466,"date":"2016-01-24T01:56:10","date_gmt":"2016-01-23T18:56:10","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/?p=2466"},"modified":"2016-01-23T23:09:22","modified_gmt":"2016-01-23T16:09:22","slug":"rise-in-public-private-partnerships-in-uae","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/rise-in-public-private-partnerships-in-uae\/","title":{"rendered":"Rise in public-private partnerships in UAE"},"content":{"rendered":"


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\nThe tightening of government budgets as revenue declines and the continued need for infrastructure development means public-private partnership (PPP) schemes are finally coming into fruition across the region, according to experts. Already, PPP is being used for a project by Dubai\u2019s Roads and Transport Authority to redevelop Union Square and is being considered as a method for funding Route 2020 \u2013 the project to extend Dubai\u2019s Metro from Jebel Ali to the Expo 2020 site \u2013 even though Dubai\u2019s PPP legislation only came into force on November 19.
\nOlivier Crasson, an executive vice president for business development at the contractor Besix, said that PPP legislation had been in place in Kuwait for several years but few projects had emerged from the government body set up to oversee them. He argued that the fact that Dubai had moved so quickly meant many more projects were likely to follow. \u201cHere, one of the objectives of the law is to reduce pressure on public spending,\u201d said Mr Crasson. \u201cThe price of a barrel [of oil] will help. It will naturally accelerate the process for PPPs to exist on a wider scale in the region.\u201d
\nHe said that there were a number of schemes, including projects at Al Maktoum Airport, the site of a planned US$32 billion expansion, where \u201calternative methods of finance\u201d such as PPPs and projects financed by contractors through export credit agencies from their country of origin were likely to play a part.Robin Herzberg, the managing director of private finance at the UK contractor Carillion, which has already used UK government funding to build the first phase of the Dubai Trade Centre District, said that it is interested in pursuing PPP schemes in the region, although there have been limited opportunities so far.
\n\u201cCertainly, we have a perception that PPPs will come in the Middle East, but we have had that for a little while. I think we\u2019ve been watching this space for years.\u201dMaarten Wolfs, an infrastructure finance leader at PwC in the region, said that forms of PPP had been used in the Arabian Gulf for years but largely only in power and water, where governments effectively guarantee them through purchase agreements.
\nNow, there is a more varied range of projects, he said.Mr Wolfs said: \u201cKuwait is tendering schools, waste-to-energy plants and housing projects. Contractors are looking at private financing solutions for the Dubai metro, and Dewa and Adwea have launched renewable energy programmes. Saudi Arabia, Oman and Qatar are \u2026 keen to broaden the model.\u201dEd Johnson, a project finance partner at the law firm Squire Paton Boggs, said: \u201cDiversification of goods and services, and the delivery of those to a higher standard, is becoming more politically important to governments.\u201d
\nmfahy@thenational.aeFollow The National\u2019s Business section on Twitter
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\nSource : thenational.ae
\nRead more…Rise in public-private partnerships in UAE<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The tightening of government budgets as revenue declines and the continued need for infrastructure...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-2466","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-DM","jetpack-related-posts":[{"id":6692,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/carillion-to-partner-with-omans-sovereign-wealth-fund-to-build-hospitals\/","url_meta":{"origin":2466,"position":0},"title":"Carillion to partner with Oman's sovereign wealth fund to build hospitals","date":"March 3, 2016","format":false,"excerpt":"\r \r Contractor Carillion has signed an agreement with Oman's sovereign wealth fund that could see the pair developing a number of hospital projects together across the Sultanate.In a note accompanying its full-year accounts for 2015, Carillion said there was \"growing interest in private finance\" across the Arabian Gulf.\"We have\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":115750,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/main-street-in-limbo-as-big-chains-claim-ppp-funds\/","url_meta":{"origin":2466,"position":1},"title":"Main Street in limbo as big chains claim PPP funds","date":"April 21, 2020","format":false,"excerpt":"\r CNBC's Kate Rogers reports on the latest regarding who received PPP loans and why the program hasn't done much for small business.\r \r Source : cnbc.com\r Read more...Main Street in limbo as big chains claim PPP funds","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":27175,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/call-for-more-clarity-in-mena-public-private-partnership-projects\/","url_meta":{"origin":2466,"position":2},"title":"Call for more clarity in Mena public-private partnership projects","date":"September 26, 2016","format":false,"excerpt":"\r Almost a quarter of the public-private partnership (PPP) projects launched in the region over the past 20 years has been subsequently abandoned, according to Meed.Its new study on the PPP market states that 23 per cent of the 80 PPP projects that have been brought to market in the\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":13870,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/gcc-construction-sector-expected-to-recover-by-2018-meed-says\/","url_meta":{"origin":2466,"position":3},"title":"GCC construction sector expected to recover by 2018, Meed says","date":"May 21, 2016","format":false,"excerpt":"\r The GCC construction market is facing pressure from cuts in government spending, late payments, increased overseas competition, bureaucracy and staffing challenges, according to a report from Meed.Yet despite all that, the Dubai-based research house expects the sector to recover across the GCC by 2018. The recovery would be helped\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":27097,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/egypt-kuwait-and-uae-markets-full-of-public-private-partnership-potential\/","url_meta":{"origin":2466,"position":4},"title":"Egypt, Kuwait and UAE markets full of public-private partnership potential","date":"September 24, 2016","format":false,"excerpt":"\r The UAE, Egypt and Kuwait have been identified as three of the main markets that are likely to offer more opportunities to major international contractors and financiers thanks to their adoption of the public-private partnership (PPP) model, according to analyst BMI Research.The consultancy said that increased use of PPPs\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":92416,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/will-public-private-partnership-approach-solve-housing-shortage-in-hong-kong\/","url_meta":{"origin":2466,"position":5},"title":"Will public-private partnership approach solve housing shortage in Hong Kong?","date":"June 26, 2018","format":false,"excerpt":"\r With land shortage plaguing Hong Kong, the Task Force on Land Supply launched a five-month public consultation to tackle the issue in late April. One of the options proposed by the Task Force is to adopt a public-private partnership (PPP) approach to release nearly 1,000 hectares of undeveloped private\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/2466"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=2466"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/2466\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=2466"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=2466"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=2466"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}