ID :
53292
Wed, 04/01/2009 - 11:51
Auther :
Shortlink :
https://oananews.org//node/53292
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WCT TARGETING RM1 BIL PROJECTS IN M'SIA, MIDDLE EAST THIS YEAR
By Christine Lim
KUALA LUMPUR, April 1 (Bernama) -- WCT Berhad, Malaysia's biggest construction and property development group, aims to secure RM1 billion (US$1 = RM3.65) worth of new projects in Malaysia and the Middle East this year.
WCT Regional General Manager for the Middle East Elina Abdul Aziz said the
group was tendering for projects in Abu Dhabi and Oman.
The group, with RM2.6 billion order book as at Dec 31, 2008, is now
positioning itself in three major markets -- Malaysia, Vietnam and Middle East.
"Inspite of the slowdown in Middle East markets, there are still
opportunities in countries such as Oman and Bahrain.
"In major cities such as Dubai where development has reached its height
could be experiencing some slowdown," she told Bernama during the Malaysia
Services Exhibition 2009 which ended in Dubai recently.
Elina said it was crucial for WCT to position itself and strengthen its
foothold in the Middle East market in view of more opportunities when the
economy recovered.
She said the Abu Dhabi Formula 1 circuit, one of the iconic projects
in Middle East, will be the platform for WCT to expand further in the region.
"The circuit will be completed in August in time for the race date in
November," she said.
The project, costing 3.3 billion dirham (US$1=3.704 United Arab Emirates
dirham) is reputed to be the world's most modern and finest F1 circuit, with a
50,000 spectator capacity.
WCT has also secured the 235 million dirham Yas Marina Royal Yacht Club
located adjacent to the F1 circuit to host the Royal family of Abu Dhabi and VIP
visitors for the Abu Dhabi F1 Grand Prix.
"We entered the Middle East construction market in 2002. The Bahrain
Formula One circuit project, which we completed at a record time of 16 months,
provided us the platform to penetrate into the Middle East market," she said.
WCT's current projects in the Middle East include the 1.6 billion dirham
Bahrain City Centre, the country's largest leisure and entertainment hub, 43km
800 million dirham West Dukhan Highway in Qatar and infrastructure work at the
New Doha International Airport.
The 2.6 billion dirham airport is touted to be the most modern international
airport in the Gulf region.
Elina said while the economic climate and financial situation have become
more challenging now due to low demand for construction projects owing to the
global economic downturn, WCT is confident of weathering the economic crisis.
She said infrastructure projects are still in demand in the Middle East
region though the clients may be more selective.
"The projects we are doing are not affected by the economic downturn and
clients are keen to go ahead with the projects.
"In Dubai, for instance, we are finishing with the storm water project and
are looking at tenders for infrastructure projects.
"The Middle East market looks promising now while in the next three years
Vietnam will be an attractive market," she said.
Elina said to be successful in overseas markets, especially in the Middle
East, it is crucial to work with local partners.
In Vietnam, WCT is focusing on the Platinum Plaza project, set to be the
country's largest leisure and entertainment centre, she said.
The project will be completed in 2014.
In Malaysia, Elina said WCT was busy with several projects -- the office
and commercial buildings in Putrajaya due for completion in 2010 and Paradigm
Petaling Jaya Grade A offices and shopping mall, Malaysia's most modern
commercial development.
The Paradigm, to be completed in 2014, has a gross development value of
RM1.4 billion, she said.
Other ongoing projects in Malaysia are civil work at the Kota Kinabalu
International Airport in the state of Sabah and Bakun hydroelectric dam in the
state of Sarawak.
-- BERNAMA
KUALA LUMPUR, April 1 (Bernama) -- WCT Berhad, Malaysia's biggest construction and property development group, aims to secure RM1 billion (US$1 = RM3.65) worth of new projects in Malaysia and the Middle East this year.
WCT Regional General Manager for the Middle East Elina Abdul Aziz said the
group was tendering for projects in Abu Dhabi and Oman.
The group, with RM2.6 billion order book as at Dec 31, 2008, is now
positioning itself in three major markets -- Malaysia, Vietnam and Middle East.
"Inspite of the slowdown in Middle East markets, there are still
opportunities in countries such as Oman and Bahrain.
"In major cities such as Dubai where development has reached its height
could be experiencing some slowdown," she told Bernama during the Malaysia
Services Exhibition 2009 which ended in Dubai recently.
Elina said it was crucial for WCT to position itself and strengthen its
foothold in the Middle East market in view of more opportunities when the
economy recovered.
She said the Abu Dhabi Formula 1 circuit, one of the iconic projects
in Middle East, will be the platform for WCT to expand further in the region.
"The circuit will be completed in August in time for the race date in
November," she said.
The project, costing 3.3 billion dirham (US$1=3.704 United Arab Emirates
dirham) is reputed to be the world's most modern and finest F1 circuit, with a
50,000 spectator capacity.
WCT has also secured the 235 million dirham Yas Marina Royal Yacht Club
located adjacent to the F1 circuit to host the Royal family of Abu Dhabi and VIP
visitors for the Abu Dhabi F1 Grand Prix.
"We entered the Middle East construction market in 2002. The Bahrain
Formula One circuit project, which we completed at a record time of 16 months,
provided us the platform to penetrate into the Middle East market," she said.
WCT's current projects in the Middle East include the 1.6 billion dirham
Bahrain City Centre, the country's largest leisure and entertainment hub, 43km
800 million dirham West Dukhan Highway in Qatar and infrastructure work at the
New Doha International Airport.
The 2.6 billion dirham airport is touted to be the most modern international
airport in the Gulf region.
Elina said while the economic climate and financial situation have become
more challenging now due to low demand for construction projects owing to the
global economic downturn, WCT is confident of weathering the economic crisis.
She said infrastructure projects are still in demand in the Middle East
region though the clients may be more selective.
"The projects we are doing are not affected by the economic downturn and
clients are keen to go ahead with the projects.
"In Dubai, for instance, we are finishing with the storm water project and
are looking at tenders for infrastructure projects.
"The Middle East market looks promising now while in the next three years
Vietnam will be an attractive market," she said.
Elina said to be successful in overseas markets, especially in the Middle
East, it is crucial to work with local partners.
In Vietnam, WCT is focusing on the Platinum Plaza project, set to be the
country's largest leisure and entertainment centre, she said.
The project will be completed in 2014.
In Malaysia, Elina said WCT was busy with several projects -- the office
and commercial buildings in Putrajaya due for completion in 2010 and Paradigm
Petaling Jaya Grade A offices and shopping mall, Malaysia's most modern
commercial development.
The Paradigm, to be completed in 2014, has a gross development value of
RM1.4 billion, she said.
Other ongoing projects in Malaysia are civil work at the Kota Kinabalu
International Airport in the state of Sabah and Bakun hydroelectric dam in the
state of Sarawak.
-- BERNAMA
