Project sector in ME region growing by $4 billion a week (19/10/05)

The number of projects in the Middle East region has grown by 48 per cent in the last 12 months, according to MEED projects , which has just completed a full year of operations.

MEED projects have grown in investment

The online business tracker now provides information on more than 1,400 projects in the GCC, Iran and Iraq totaling a value of over $674 billion, according to a press statement issued today.

Ayman Razek, General Manager of MEED projects, said: "With new projects announced every week to the tune of $4billion, the saying '"time is money" has never been as valid as in the Middle East.

"Through the databases and online tracking, MEED projects subscribers can be first-to-market when tenders are announced - and this gives them a noticeable advantage in their industries."

Accurate and timely project information can be priceless for big investors, according to Razek, who pointed out that the MEED brand name offers an assurance as to the validity of the information.

To maintain its product delivery, MEED projects has grown its investment into the operation to match the increase in subscriber numbers and it is currently spending $4.6 million a year on research and development to ensure that its subscribers have up to date, and accurate project data.

Since the launch last year, the MEED projects team has continued to grow with the introduction of a dedicated customer service team as well as constantly updated project background and contact details of key decision makers. Next year will also see the addition of detailed finance data for each listed project.

Source: MENAFN