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Issue 3 - November 2013

11 Weygand Street . Downtown BeirutTel. 01 984 999

Issue 3 - November 2013

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ABU DHAB I • COURCHEVEL • DUBA I • GENEVA • GSTAAD • KUWAIT • LONDON • M IAMI • MOSCOW • NEW YORKPAR IS • PORTO CERVO • ROME • S T BARTHELEMY • S T MOR I TZ • TOKYO

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Happeningin Town

Real Talks

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DirectorHanaa Shaaban

Contributing EditorsDr. Mohsin Shaikh Al-Hassan - KSA Dr. Paolo Mastromo- Italy Johanna Whelehan – Berlin Mostafa Al-Mossallami – UK Ashley Hammond – UKMatthew Strother – USVeronica Walker – US Rashel Rozzo – US Andréa Magalhães – Brazil Ali Yoda – Baghdad Aline Hallak – Lebanon

Sub-EditorJohanna Whelehan

Media ConsultantAline Hallak

Art Director Sharafudheen Machingal

ResearchHanadi Jawhari

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IT SupportMohammed Faisal

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All the ideas and the opinions mentioned in the articles only reflect the opinion of their authors and the magazine shall not be held liable thereof.

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Dear Readers,

Welcome to the third issue of the DORCHESTER Magazine!

We are pleased to take you on our quarterly tour around the world, exploring some of the hottest topics and visiting the most interesting locations.

The Middle East! Despite the overall gloomy atmosphere in the region, there seems to be many reasons for optimism! Iraq. Will the Dormant economic giant wake up soon? DORCHESTER talks to the Prime Minister of Iraq, Nouri al-Maliki, about the re-emergence of Iraqi banks and the challenges in catching up with current international banking practice. From Saudi Arabia, we look at the King Abdullah Bin Abdul Aziz Financial District (KAFD), which aims to be the biggest financial district in the Middle East.

Investment being central to DORCHESTER magazine, we focus on a series of international property markets and the impact foreign investment is having on them; In Brazil, foreign investment is currently encouraged and welcomed, in particular in the residential sector, where there is plenty of room for everyone! Politicians and legislators in the US are dealing with the potential for growth in foreign investment in the property market, making it more attractive, without alienating domestic investors! And in London, we investigate how the power of the Qatari dollars is being felt and seen across the city. And from the heart of Europe from Berlin, an in-depth reportage about the impact of Berlin’s main train station – Europe’s largest – on the local and national economy. We also did an investigation of the prerogatives of the various members of the G-20.

Casting our eye on some of Europe’s hottest events; we view the past, present and future of the internationally renowned furniture fair in Italy, the Salone del Mobile. Then we take you to the yearly-awaited Royal Ascot, the dashing event that sees competition both on and off the tracks.

Our Fashion & Style enthusiasts are always in our mind and for them we have an exclusive interview with the international designer Elie Saab, who tells us about hard work, inspiration and making it in today’s fashion industry. Still in the world of style and for the design lovers, we bring you from its capital – Milan – the latest in the 2013 most prestigious design award, The Compasso d’Oro.

Hoping you enjoy reading this issue and we look forward to bringing you another exciting issue in 2014… Until then WE WISH YOU A HAPPY NEW YEAR.

DORCHESTER Team

Distribution & Marketing

Dorchester Capital Investments Lebanon Downtown BeirutP.O.Box:11-4112Tel: +961 1 999 323 Fax: +961 1 999 322 [email protected]

Khayat Center-2, Thahliah StreetJeddah, Saudi ArabiaTel: +966 12 284 0798 Fax: +966 12 284 1014

This Issue

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Interview

Elie SaabForeign Investmentin the US Property Market

Royal AscotFamed for its hats and horses, the annual racing event keeps drawing the crowds

InterviewElie Saab

Qatari Investmentin London

Expo Real 2013Positive outlook for the market

Luxury property

قمة جمموعة الع�شرين

�إنق�صام �صيا�صي ...�إجماع �إقت�صادي

�لقطاع �مل�صريف يف �لعر�ق

ة �إنطالق �إقت�صادي نحو �ملنطقة و�لعامل من�ص

Berlin’s HauptbahnhofMoving Berlin’s Economy onto the right track!

Happening in TownDiscover Cavalli Caffè

Real Talks!

Brazilian Real Estate MarketRecord Foreign Investment

Happening in TownDorchester Estates in Baghdad

Happening in TownMonaco Yacht Show 2013

Salone del MobilePast, Present and Future

World’s Top Ski Resorts

�لت�صميم �ل�صناعي

جائزة Compasso d'Oro لأكرث �لت�صاميم جودة ومتيز�

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�شرتيت" يف نيويورك و�ملطلوب قو�نني مرنة

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102 Events’ Calendar

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11DORCHESTER November - 2013

The trajectory of the US Real Estate Market over the last decade has resembled nothing so much as a roller

coaster: high highs, low lows, and plenty of unexpected bumps and dips. The recent turmoil over the debt ceiling is just the latest in a seemingly never-ending parade of crises threatening to derail the housing market’s fragile recovery. For the prospective buyer observing from abroad, so much instability would seem to discourage investment. However, DORCHESTER Magazine’s recent investigation of the foreign investment

landscape has revealed the opposite. Despite the dismal news this autumn, numbers from the US Department of Housing and Urban Development’s scorecard have been steadily on the rise for almost a year. Meanwhile in Washington, new White House-backed bi-partisan legislation is pushing to reform legislation that places an extra tax burden on foreign investment. For the savvy non-US buyer with local knowledge and a long-term

market view, the time is ripe for opportunistic investment.

US property market - the recent pastFirst, a little history: in early 2006, the American housing bubble pushed prices to unprecedented peaks and went pop, sending the US economy into the worst downturn since the Great Depression. Officially, the ‘Great Recession’ lasted from 2007 to 2009, though the markets continued to suffer long after. None more so than the real estate sector, where prices kept on plummeting until the end of 2012 before hitting rock bottom. Recent estimations of the total market loss are in the neighbourhood of 7 trillion dollars.

The crisis was a tragedy for owners, but it was also a once-in-a-generation opportunity for investors. Particularly foreign investors, who piled into the “Buyer’s Market” in 2007-2009 to secure property for extraordinary bargains. In the following four years, a mixture of rising property prices, diminishing inventory, an appreciating dollar, and sluggish foreign economies have slowed the flow of foreign capital coming into the US.

The most recent data suggests housing prices

across the nation are rising by an average of roughly 5 percent annually. This rise owes as much to a drop in construction as it does to an increase in actual demand. At the height of the building boom in 2005, 2.5 million units were built. Last year the total number of units was just over 600,000. With demand slowly on the rise, prices appreciating, and supply leveling out, most banks and lenders are waiting to sell, hoping to get a higher price for their properties. Meanwhile lenders, including the giants JP Morgan, Bank of America, and Wells Fargo, are relaxing tight credit conditions to compete for more customers.

The updated American dream Amidst those modest signs of improvement, rental prices are flying high. In many cities, they have increased so much that owning has become cheaper than renting. The latest studies suggest this trend is about more than the ebb and flow of markets. Economists associate the rise in rentals with a new kind of American dream. Younger adults are delaying marriage while the Baby Boomers are downsizing. Many predictions show the trend continuing for the next decade. This is great news for the prospective investor. A panel of major real estate developers recently stated that the coming ten years will be the best for multi-family apartment complexes in decades. Similarly positive projections have been made about office and retail space. Investors seem particularly eager to fund projects that bring everything together: office, retail, apartments, and condos in an environmentally-friendly location.

Foreign Investment in theUS Property Market

New York city Manhattan midtown aerial panoramic view with skyscrapers and blue sky in the day.

Recent estimations of the total market loss are in the neighbourhood of 7 trillion dollars

DORCHESTER November - 201312

Investment 1

New opportunities for foreign investorsKaren Van Ness, owner of Ranch and Village Homes, a Coldwell Banker Brokerage, told Reuters that “today’s prospective international investors are watching, but they are not circling as they were. The foreign buyers are a financially astute group of individuals and not necessarily fixed on any one location.”

In short, foreigners willing to do their due diligence will still find the US market flushed with opportunities. A survey of recent foreign investment activity confirms that non-US buyers agree. The National Association of Realtors reported that in 2012, international investors accounted for $82.5 billion of the $928 billion spent on US residential real estate. The NAR also states that its member network is becoming increasingly international. Echoing the trend is a survey recently undertaken by the Association of Foreign

Investors in Real Estate (AFIRE), which has an estimated 2 trillion dollars of real estate assets under global management. Every year since 2001, AFIRE has been asked to report the top five global cities for foreigner investment dollars. At the end of 2012, for the first time since the survey began, four of the five cities were in the US Those top five global cities are: New York, London, San Francisco, Washington D.C., and Houston. The survey also showed that the US continues to be the overwhelming first choice in providing opportunities for capital appreciation. It received 55percent of the vote, with Brazil, ranked second, trailing far behind with 17 percent of the vote. 81percent plan to increase their portfolio size, with a further 31 percent planning on a “major net increase.”

No doubt about it: a fresh wave of foreign investment is sweeping the country. The kinds of property non-US investors are adding to their portfolio varies. The most popular projects are properties in the key metropolitan markets, residential locations with projected long-term growth prospects, and retail opportunities – from smaller scale neighbourhood groceries to major mall properties.

The role of Middle Eastern investorsAnd where does the Middle Eastern investors figure in all this activity? There has in fact been a great deal of capital flowing into the US from all over the Middle East, particularly from Arab nationals, but their preference for remaining out of the spotlight has downplayed this surge. Take, for example, the New York real estate market. The influx of Chinese yuan into Manhattan and more recently Queens has received heavy

coverage from the New York Times, Forbes and other high profile outlets. But when the most expensive penthouse in New York city sold in May of 2012 to the prime minister of Qatar, nobody knew the details for several months. The only public knowledge was that it had been purchased by a “mystery buyer.”

A similar story played out in July of 2008, when the Abu Dhabi government bought a 90 percent stake in the Chrysler building. The deal was conducted at arm’s length, and management of the building was left to Tishman Speyer Properties. Reporting on the discretion of the transaction, a New York Times article reported that the Abu Dhabi Investment Council “tends to shun publicity” and offered no comment on their purchases.

It is not just high profile Middle Eastern individuals investing more and more heavily into the US, but also entire countries. According to the Embassy of the United States in Riyadh, Saudi Arabia, Kuwait and Malaysia are among the first ten countries purchasing commercial real estate in the US The Emirates and Bahrain are in the top twenty.

On the American side, there is a growing political awareness that foreign investment will be one of the keys to US recovery. US Ambassador to the Kingdom of Saudi Arabia, James Smith, recently said, “US-Saudi business ties are extremely important. Since my arrival in Riyadh, we have been

James Smith: “The positive flow of both culture and capital will only continue to open the doors to Middle Eastern investors looking

toward America for opportunity"

DORCHESTER November - 2013 13

2

actively promoting trade and investment between Saudi Arabia and the United States. We will continue to facilitate travel, cultural exchanges, and other delegations to both countries because I firmly believe that exchanges in trade and commerce can be a positive, meaningful basis for building a much stronger relationship.” The positive flow of both culture and capital will only continue to open the doors to Middle Eastern investors looking toward America for opportunity.

Making investment a realityBut if the time is right once more, how to act? The challenge for the foreign investor lies in navigating an unfamiliar investment landscape. Before deciding which markets or investment classes to explore, foreigner investors should begin by attaining a basic understanding of current tax legislation that will affect the outcome of any investment activity. While no laws specifically forbid foreigners from investing in US property,

there are tax-code complexities that make some investments less appealing.

Legislation to change the investment landscapeThe Foreign Investment in Real Property Tax Act (FIRPTA), first established in 1980, ensures foreign investors paid a 10% US tax on any gains when disposing of American real estate assets. The law itself is an anachronism. It was originally passed to protect farm property from foreign investors (no longer a concern in 2013) but has gone on to have the unintended effect of discouraging the flow of international capital over the borders. Jim Fetgatter, Chief Executive for the Association of Foreign Investors in Real Estate, stated, “FIRPTA is probably the single biggest barrier to foreign investment in the real estate market.”

However, there is a growing recognition in Washington of the vital role that foreign investment can have. It began in March, when the White House press secretary announced an initiative from President Obama to make investment more attractive to non-US investors. Speaking on the issue, the secretary acknowledged that FIRPTA is regularly cited as an impediment to invest in US infrastructure and real estate assets.

The admission paved the way for concrete action. On July 31, 2013, representatives

Kevin Brady (R-TX) and Joe Crowley (D-NY) held a press conference to announce that they were pushing the White House initiative one step further by introducing the Real Estate Investment and Jobs Act of 2013. If enacted, the Real Estate Investment and Jobs Act, a companion to the Senate bill S. 1181 co-sponsored by Senators Robert Menendez (D-NJ) and Mike Enzi (R-WY), will raise the amount a foreign investor can invest in a Real Estate Investment Trust (REIT) before being subject to FIRPTA taxes from 5 percent to 10 percent. Furthermore, it will reverse a 2007 IRS ruling that lifted taxes on liquidating distributions from domestically controlled REITs.

Congressman Kevin Brady told DORCHESTER Magazine, “The US Tax code is a relic of the past that hurts the economy and job creation. Modernizing the FIRPTA section of the code will encourage more foreign investment in America’s commercial real estate market, and that investment means new real estate prospects and new jobs. Because of the bipartisan and bicameral support, I hope that pro-growth reform to the US tax code will happen this Congress.”

So foreign investors may soon find themselves on a more equal footing with their US counterparts. But many aren’t willing to wait, believing that the timing is right to take advantage of still-depressed US prices and find good deals. They recognize that The new bay beach bridge in San Francisco, the defunct bridge on the right.

Kevin BradyJoe Crowley

Despite signs of an economic turnaround, property valuations are still on the whole low and this may

be the moment to make a move


Investment 3

Dorchester magazine 21x28cm Out.pdf 1 7/29/13 2:03 PM

despite signs of an economic turnaround, property valuations are still on the whole low and this may be the moment to make a move.

Of course, to speak about the “US real estate market” as if it were a single entity is to simplify a complex web of sub-markets, industrial, residential, and commercial, each with its own dynamic, each in a different stage

of recovery, and each with opportunities to be found. A New York skyscraper and a mid-Western multi-family apartment complex are subject to very different micro-economic trends. To cite just one example of the variation across state lines: in June a whopping 92 percent of buyers in San Francisco paid more than the asking price on homes, while over the same period in Chicago, a mere 20 percent of homebuyers paid over the asking price. Any discussion

of US real estate must be wary of over-generalization.

The best investor is an informed investor The first step for prospective investors looking toward the US must be to equip themselves with local knowledge. DORCHESTER Magazine spoke with Karin Shewer, co-founder of the Manhattan-based Real Estate Advisory Firm Real Estate Capital Partners (RECP), to discuss approaches for the prospective property investor. “Real estate is a very local business. When you’re going to do it, you need a partner that represents you here and makes sure you’re protected and makes sure you don’t take a big misstep. The right advisors understand the appropriate deal structures and can more effectively guide the investor on pricing. To date, RECP has invested over $10 billion into the US for high-net-worth families and institutions coming inbound into the markets”.

Shewer also underlines the importance of finding partners with ‘boots on the ground’ in local markets. “Without deep local knowledge, it’s impossible to know the answer to questions like: What’s common practice? What’s going to sell well? Why do you pick the corner of A and B as opposed to X and Y? And those are the kind of questions you have to be able to answer to make a profitable investment.”

Still, Shewer is able to make a few generalizations about certain opportunities that RECP prefers. “We’ve always focused on apartments, garden apartments, and high-rise apartments located both in central business districts and infill suburban markets. Multi-family rental property outperformed almost everything else over the last ten to fifteen years. You can continue raising rents in most markets.” said Shewer, adding “We have also focused on student housing, skilled nursing facilities along with high-end retail properties and office building investments.”

The market classes she mentions represent a classic mix of solid investment possibilities,

and reflect trends nation-wide. Apartment complexes remain the most solid safe-haven for inbound investors, particularly in Manhattan, which always attracts extra international attention, particularly from the Middle East. Meanwhile, luxury retail investments on Fifth Avenue and Madison in New York, Michigan Avenue in Chicago, Union Square in San Francisco, and Rodeo Drive in Beverly Hills remain perennial favorites for buyers abroad.

Mark Gilbert, executive vice president of Retail Investments in the Cushman & Wakefield Capital Markets Group, Miami, is seeing a ‘new wave’ of international investors into shopping centres and high street retail opportunities across the country. Though growth has been somewhat erratic, Gilbert reports that the volume of international retail real estate deals in the US in 2012 was “as good as the glory years of 2005 and 2006,” while predicting that by the end of 2013 things would be “as good, if not better.”

Commercial office opportunities have also been on the rise. The demand for office space has remained high in the US, due to the fact that the Federal Reserve has kept interests rates low, enabling and encouraging corporate expansion. The total national vacancy rate has dropped down to 15.4 percent. In New York, Washington, and Houston, rates are closer to 10 percent.

When it comes to looking into local markets, Karin Shewer re-emphasizes the need to “go in with a very high level of base knowledge.” The balance of supply/demand, the likelihood of job growth, emerging markets

The non-US property investor should ignore short-term fears and look for long-term opportunities

One 57, when completed, will be the tallest residential building in New York city.

Karin ShewerThe coming ten years will be the best for multi-family apartment

complexes in decades


Investment y4

and trends, all of those factors have important roles to play in the rise and fall of prices in local economies. Generally speaking, investors like to stick to the coastal cities with great demographics and a good investment story. RECP also focuses on secondary markets. They are willing to look beyond the obvious choices of New York, San Francisco, or Washington D.C. if the opportunity presents itself. Excellent risk adjusted returns can be generated in those markets.

Seattle, with its huge growth in technology and desirable location is a great market with high-barriers to entry. Houston, with huge growth in energy and medical sectors, has also become very desirable. But with no zoning laws, one must be more mindful of the supply factor. Denver has also been heating up in the past couple of years, and presents another exciting new growth market moving forward.

Ultimately, to level the playing field against American competitors, it is vital to engage advisors and consultant engaged in the sub-market of your interest. It is equally important to be prepared to do significant independent research so that you are in a position to take decisive action when the opportunity comes. The sophisticated investor will also surround him or herself with high-quality brokers, surveyors, environmental consultants, and insurance agents. Many investors pursue joint deals with a US strategic partner as a way of smoothing the path. Whatever the way forward, it must be done with local knowledge informing each choice.

The current dark mood in America will only increase its need for foreign investment dollars to bolster the real estate market and lend new momentum to the FIRPTA reforms. At the same time, the atmosphere of uncertainty will put negotiating power back in buyers’ hands. The non-US property investor should ignore short-term fears and look for long-term opportunities beneath the market’s stormy surface. The US may not be the safe haven it once was, but it is certainly the safest haven in today’s uncertain global economy. Those willing to invest the time, patience, and capital will find the time ripe and the opportunities waiting.

• By Matthew Strother – US

الإ�ستثمار الأجنبي يف ال�سوق

العقارية يف الواليات املتحدة

من للكثري �ملا�صي �لعقد م��د�ر على �لأمريكية �لعقارية �ل�صوق �صت تعر

ت ر� �أزمة رفع �صقف �لدين �لعام �لأمريكي، �لتي هز �لتذبذبات، ومنها موؤخ

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يقارب 7 ترليون دولر.

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�ل�صوق �لأمريكية �ملحلية. �أكرث بخفايا �إل تعميق معرفتهم �لوليات �ملتحدة،

ويجب على �مل�صتثمر �لأجنبي �أن يلجاأ �إىل �مل�صت�صارين �لعاملني يف �ل�صوق، ل

�صيما و�أن �لو�صطاء و�مل�صت�صارين �لبيئيني ووكالء �لتاأمني ي�صكلون حجر ز�وية

لأي م�صروع جتاري ناجح.

Miami city scape in day time, Florida USA.


5

Elie SaabLebanon'sFashion LegendElie Saab, Lebanon’s own design legend, is an

internationally acclaimed fashion designer and entrepreneur. He is currently celebrating his

latest Autumn/Winter 2013-2014 collection, Haute Couture and Prêt-à-Porter. Elie Saab took time to talk to DORCHESTER Magazine about hard work, inspiration and making it in today’s fashion industry.

18 DORCHESTER November - 2013

Interview 1

The world ELIE SAAB creates is one of old-world glamour, fairytale, magic. Do you feel that Haute Couture is the only medium to communicate this vision? or the most suitable?

Haute Couture is luxury, a kind of a lifestyle that is adaptable to changes in society while giving the client the opportunity to dream. As a fashion designer, creating couture means you have the freedom to challenge your whole imagination to come up with a unique and special piece. The same goes for any designer creating his masterpiece. It is all about creativity, stretching it to its utmost.

In your prêt-à-porter collection Autumn/Winter 2013-2014, there is the signature SAAB glamour and style. But we see more the power and challenge of today’s woman in the prêt-à-porter collection. Would you agree?

I would say that I worked to give my clients more styles and varieties in response to the times we live in. I presented the self-assured and elegant woman for the day, and maintained the feminine and glamorous style for the evening.

We are trying to respond to the needs of our clients by presenting an array of looks of dresses and accessories to fit with their everyday lifestyle.

Do you feel that you always realize your vision or are there times when the image changes between concept and design and finished product? is the process from idea to dress different each time?

Designing a dress is a long process and it all depends on the gown you are creating; ready-to-wear, haute couture or bridal. There is no defined practice. I do dresses to

fit the silhouette and highlight the woman’s beauty. For me, each detail counts and can change the total look. In general, I like to start by choosing the fabric, then I will move to the form. Sometimes, it can be the other way round and the sketch would be the starting point. The most important stage is when I see the dress on the mannequin, so I can do the final touches or alterations.

You have said in the past that you excel at the “evening gown”, but obviously your prêt-à-porter collections focus on other areas. Has the SAAB muse changed? or are they two facets of the same muse?

It is not a matter of excelling in evening gowns; it is more about enjoying creating evening dresses because every woman wants to be a star in an evening gown, regardless of the event. I started my career

in haute couture; and now it is only a natural evolution to create more styles. My muse hasn’t changed; the woman remains my main source of inspiration in all her aspects.

“I am not only a fashion designer, I have the vision of an entrepreneur, a businessman”, you told Arabian Business. Not many people achieve this balance. Does it come naturally to you? or is one side stronger than the other?

Nothing comes naturally without hard work and perseverance. I had to constantly

Haute Couture is luxury, a kind of a lifestyle that is adaptable to changes in society while giving the client the opportunity to dream

I do dresses to fit the silhouette and highlight the woman’s beauty


2

teach myself most of the business over the years, all the while creating new collections. I have always been very hard on myself and always feel the need to do more and better. I am not a believer in making “art for art” only; the piece should be wearable. At the end of the day, it is my business; I make sure to deliver what women want and aspire to wear.

In this economic climate, the luxury synonymous with the house of ELIE SAAB could be said to be inappropriate. How would you justify the opulence of your artistry to your more hard-headed commercial identity?

I don’t agree with this statement. Even within the current economic climate, couture can exist and always will do, as it is evolving and adapting itself to women’s changing lifestyles. I am for an haute couture that is modern and which offers the woman of today a flexible service, catering to her every need.

Buzz words such as sustainability and social responsibility are a given in today’s commercial landscape. How does the SAAB HOUSE do

more environmentally and socially friendly business?

We are undertaking different initiatives as part of our corporate social responsibility. Starting with our participation in humanitarian events such as les Sapins des Créateurs, Paris tout P’tit, Les Frimousses de Créateurs (organized by UNICEF), Sidaction among others and lately the collaboration with the Lebanese American University (LAU) for the fashion design program.

Can you tell us about the Elie Saab Bachelor in Fashion Design?

My objective for launching the fashion design program with the LAU is to provide Lebanese students with a high educational standard in the field in order to further improve the fashion scene and grant students a reputable degree. The academic side is not my specialty and I will leave this

responsibility to the LAU, who will ensure the creation of a world-class program. We both have the same vision and I will make sure to offer any assistance that might be beneficial to the program and the students.

Do you feel that the global climate for fashion designers is more demanding nowadays than when you were starting out?

I do dresses to fit the silhouette and highlight the woman’s beauty

I am ready for any project that can incorporate my vision while maintaining the code of the brand

Elie Saab - Photo by Wissam Hishmi

Ready-to-wear collection Fall/Winter 2013-2014


3 Interview

Of course, fashion is evolving. The industry is becoming more competitive and clients are more demanding nowadays. Fashion has become broader, embracing many different styles. Any woman can find what fits her shape and meets her fashion attitude.

Is interior design an area which you see as a natural progression of your fashion sensibilities?

I am passionate about architecture and interior design. My personal style is a fusion of simplicity, luxury and modernism.

On a corporate as well as private level, how involved are you in the design of your fashion houses and homes?

I cannot live in a house or space that doesn't reflect my own taste in things, it is a must! so I personally keep an eye on every single detail and get involved in all aspects of design. This is well reflected in the design of my

م اللبناين العاملي اإيلي �صعب امل�صم

ت�صاميمه مزيج من �لفخامة و �حلد�ثة و �لب�صاطة يف �آن

م �أزياء عاملي �ملبدع �للبناين �لعاملي �إيلي �صعب، لي�ص م�صم

ملجلة ك��ان وق��د �أي�صا. ناجح �أع��م��ال رج��ل هو بل فح�صب،

جمموعته �إطالق ملنا�صبة معه، حو�ر DORCHESTER�ىل �حل��و�ر وتناول 2014/ 2013 و�صتاء خلريف لالأزياء

يف �لأزي��اء و�صناعة �صخ�صيته من جو�نب �أعماله جانب

ع�صرنا هذ�.

ويقول �إيلي �صعب �أن �ل� Haute Couture ترف ونوع من

م يف منط �حلياة �لقابلة للتكيف مع متغري�ت �ملجتمع، ويقد

عميقا ل �لتوغ يف �لأزي��اء م مل�صم �لفر�صة عينه �ل��وق��ت

�صعب �إي��ل��ي ويعمل ف��ري��دة. بت�صاميم و�لإب��د�ع بخياله،

عة �إنطالقا من متطلبات �لع�صر وما حتمله من �أ�صاليب متنو

تر�صي �صيد�ت �ملجتمع على �إختالف �صخ�صياتها و�أمناطها،

ولذلك يرى �إيلي �صعب �أنه على �لرغم من �لأزمة �لإقت�صادية

ر على عامل �لأزياء �لتي تعي�صها �لدول �ليوم فاإن ذلك مل يوؤث

لأن هذ� �لعامل يتكيف د�ئما مع متطلبات كل مرحلة، ف�صال

�صيد�ت على منط حياة تطر�أ �لتي �ت �لتغري مع تكيفه عن

على �لذ�تية �لقدرة �لأزياء لعامل فاإن وبالتايل �ملجتمعات،

دها �لإ�صتمر�ر و�لتطور. وهذه �حلقائق يدركها �صعب ويج�ص

�لأزياء خلريف و�صتاء �أتت جمموعة يف كل ت�صاميمه، وقد

و�حلد�ثة. �لأناقة يف �ملر�أة متطلبات لتالئم 2014-2013

ويرتجم �إيلي �صعب هذه �لروؤية يف جميع �أعماله �لتي ت�صمل

�لأك�ص�صو�رت و�لعطور. وحول �لألب�صة �جلاهزة يقول �صعب

مو�كبة يف و�صيا�صته يتنا�صب طبيعي حتول يعترب ذلك �إن

�لأذو�ق تر�صي �لتي �لأ�صاليب من مزيد و�إب��ت��د�ع �لع�صر

�ملختلفة ، �إل �أن �ملر�أة �مللهمة تاأتي د�ئما يف �ملرتبة �لأوىل.

وعلى �لرغم من ذلك، ل ينفي �إيلي �صعب �أن �صناعة �لأزياء

ملتطلبات يخ�صع �لذي �ملناف�صة عامل رحاب يف تدور باتت

�أ�صاليب هنالك وب��ات �ملجتمع، �صيد�ت قبل م��ن تتز�يد

ما �إيجاد على �مل��ر�أة م�صاعدة يف ت�صاهم عة ومتنو خمتلفة

ينا�صبها.

ولإيلي �صعب �صغف يف عامل �لهند�صة �ملعمارية و�لت�صماميم

لته خمي من ين�صجها دوم��ا ت�صاميم يختار وهو �لد�خلية،

وهو �آن، يف و�حلد�ثة و�لفخامة �لب�صاطة مبزج وي�صتمتع

ج�صد ذلك يف ت�صميم منازله ومتاجره، ل �صيما و�أنه ل يغفل

�لتي �لد�خلية، �لت�صاميم �لب�صيطة يف �لتفا�صيل حتى عن

ي�صري �إىل �أنها حتدث فرقا كبري� يف جمالية �لت�صميم.

دعم ومنها ع��دة جم��الت يف �صعب �إيلي ن�صاطات ع وتتنو

Paris tout " و "Sidaction" ك�� إن�صانية موؤ�ص�صات

P’tit" و " Les Frimousses de Créateurs "، ف�صال عن تعاونه موؤخر� مع �جلامعة �للبنانية �لأمريكية (LAU) يف

�إطار برنامج لت�صميم �لأزياء، من خالل خربته �مل�صهود لها

يف هذ� �مل�صمار، ويقول �إيلي �صعب �أن عمله ياأخذ �لكثري من

�ص وقته. وعلى �لرغم من كل �إن�صغالته، �إل �أنه د�ئما يخ�ص

وقتا لعائلته.

وي�صعى �ملبدع �لعاملي �إيلي �صعب �إىل �لعمل د�ئما على �إعالء

على �حلفاظ يف جهد� ياألو� ل وهو �لتجارية عالمته �صاأن

DORCHESTER د من خالل جملة م�صتو�ها �لرفيع ، ويوؤك

�إنفتاحه و�إ�صتعد�ده لأي م�صروع يتنا�صب وروؤيته وعمله �جلاد

�صرط �أن يبقي على نوعية وم�صتوى عالمته �لتجارية.

Elie Saab and Hanaa Shaaban (DORCHESTER Magazine Director)Photo by Wissam Hishmi

Haute couture collection Fall/Winter 2013-2014

The woman remains my main source of inspiration in all her aspects


4

homes and boutiques worldwide, which are very simple and almost Spartan in terms of decoration.

It is said that you have the sensibilities of an architect. How would you compare the disciplines of fashion design and architecture?

When I design, I am like an architect. My fashion aesthetic leans towards very feminine, graceful silhouettes which bring out a woman’s natural beauty. I study a woman’s curves and design a dress that is

elegant, because that is how I see her. My taste in interiors is different. In my mind, I am cubic, and I like simple things. I am minimalist at heart and keen on modern lines. I would consider more straight lines; my homes all have the same relaxed, Zen atmosphere, and they are all decorated with a contemporary approach. The interior design is not the same in each house. They are all decorated differently, depending on what suits each house’s unique setting.

Do you have a favorite architect or architectural style?

The Venezuelan-born and Beirut-based architect Chakib Richani has collaborated with me on the interior design of all my

boutiques and homes. We have a very similar aesthetic, so it was easy to collaborate. He helped me produce items of furniture that I designed myself, and have them custom-made in Italy.

We see many top fashion houses and designers diversify their brand into various fields including product and furniture design and real estate development. Do you see this as positive?

Whenever a brand gains popularity, the next step would naturally be to venture into different lines and segments. It is the typical model of a brand’s architecture. Creativity has no limits, no boundaries.

I feel the pressure to maintain a high level of success in an industry that thrives on such high levels of competition. The challenge lies within oneself, not just in the industry one has chosen

Ready-to-wear collection Fall/Winter 2013-2014


Interview y5

Many top fashion names have entered the area of interior design and developments; does Elie Saab have a special scoop for DORCHESTER magazine in this regard?

I don’t have any special scoop for the DORCHESTER today! But I can say that I am ready for any project that can incorporate my vision while maintaining the code of the brand.

We know that Beirut holds a special place in your heart. Outside of Lebanon, do you have a favorite city?

There are many destinations I like, such as the south of France and Italy. However, very often and due to my busy schedule and all the travelling I do, I prefer to spend quality time with my family and friends in Beirut. I am constantly travelling between Paris, Beirut, Geneva and Milan, yet Paris remains the fashion capital where I have been presenting for more than 12 years now. I find Paris extremely rich culturally, especially its architecture which is particularly inspiring to me. It is obvious that each journey to Paris influences my collections, be it through an exhibition or simply a walk in the city.

Is there such a thing as work/life balance for Elie Saab? How do you balance family and home life with your working life?

I cannot deny that my work takes a lot of my time, but I am always surrounded by my family during shows or important occasions and I make sure to spend quality time with them. My wife Claudine is a great source

of inspiration. She is my main support; we have travelled this journey together. When I started my career, I was so busy founding the business that she took care of the boys with complete dedication so that they were not affected by the lack of my presence.

Are any of your boys showing a passion or interest in fashion design?

Elie Jr, the eldest, joined the company recently and is in charge of marketing and strategic planning. I am very happy about this, of course, but would never force nor

draw their path for them. The second is more into finance and the youngest is showing interest in design but it is still too early to confirm. They should make their own choices to succeed.

Who and what challenges Elie Saab?

I feel the pressure to maintain a high level of success in an industry that thrives on such high levels of competition. The challenge lies within oneself, not just in the industry one has chosen.

It is all about creativity, stretching it to its utmost

My fashion aesthetic leans towards very feminine, graceful silhouettes which bring out a woman’s natural beauty


6

يف يكمن �حلل �أن �ل�صهلي ح يو�ص �لأزم��ة لهذه وتفاديا

ل �لتي �صتوؤه �لعلمية �لأكادميية �ملركز نف�صه ومن خالل

كو�در �صعودية وتك�صبهم �لعلوم و�خلربة �لالزمة ملو�كبة

�صيقود �ملركز �أن �ىل لفتا �صي�صهدها، �لتي �لتطو�رت

باملنطقة �أ��ص��ب��ه م��ص��ار�

�حل��رة �ل��ت��ي ت��ص��م

ع��ار��ص��ني وط��ال��ب��ني

��ص��ع��ودي��ني و�أج��ان��ب،

حمورية نقطة و�صيمثل

ل��ص��وق م��ال��ي��ة ع��امل��ي��ة،

وكالء م��رة لأول �صي�صم

�أو �لبنوك �صو�ء �لعاملية، �ملالية �ل�صركات لأرقى وفروع

�أو �ل�صما�صرة �أو �مل�صت�صارين �أو �لأ�صو�ق �أو �لبور�صات

�لو�صطاء.

د يوؤك �ملركز، من اة �ملتوخ �لطموحة �لروؤية تكتمل ولكي

�ل�صهلي �أنه ل بد من حتفيز �ل�صركات �لعاملية لالإن�صمام

و�إجر�ء�ت مقبولة �إ�صتحد�ث نظم �إليه وذلك من خالل

فقد وعليه، �لعاملية. �ملر�كز هذه مثل يف ومعتادة دوليا

تلك عن خمتلفة منظومة لتطبيق مكانا �ملركز يكون

ث عن تاأثري�ت قة بال�صوق �ملحلية، وينتقد من يتحد �ملطب

�صلبية لل�صركات �لأجنبية �لتي �صيتم جذبها، ويقول :" هم

غري مدركني لطبيعة �لغاية �ملن�صودة من ور�ء �إن�صائه، �إذ

وخدمات مال مركز لأكرب �ململكة قيادة �إىل ن�صبو �إننا

و�أعمال بال�صرق �لأو�صط، فهل هذه �لقيادة �صتكون ممكنة

يف ظل قيود �أو خماوف من مناف�صة �ل�صركات �ملحلية �أو

غريها؟ "، وي�صيف: "قدوم هذه �ل�صركات �لأجنبية �أمر

�إن �إعتقادي ويف �ملركز، فكرة لإجناح و�صروري حتمي

جلذب و�إمكانياتها قدر�تها كل لت�صخري حتتاج �لدولة

�ل�صركات �ملالية �لعاملية، ومن ثم �صتكون بحاجة لتحرير

هنا �ملنا�صب م��ن ولعله و�ل�صيا�صات. �لأن��ظ��م��ة بع�ص

�لأجنبية من �ل�صركات �إ�صتثنائي مع هذه ب�صكل �لتعامل

حيث بنود �لتوطني �أو قو�عد �لعمل وغريها".

�لناجت جت��اوز �لإع��ت��ب��ار بعني �لأخ��ذ وم��ع لة، �ملح�ص يف

ري��ال، تريليون 2.7 م�صتوى للمملكة �لإج��م��ايل �ملحلي

بدور وم�صاهمتها �لع�صرين، ملجموعة �ململكة و�إن�صمام

�لدويل �لنقد �لدولية ك�صندوق مات �ملنظ مايل ر�ئد يف

ترجمة �إىل حتتاج تز�ل ل �ململكة فاإن �ل��دويل، و�لبنك

�لو�قع �لإقت�صادي بعيد� عن �أر�ص هذه �لإجناز�ت على

لي�ص �لوطني فالإقت�صاد �لأوحد، �لنفطي �لإير�د بوتقة

ل توليفة من �لقطاعات �لإقت�صادية نفطا، ولكنه بات ي�صك

ولعل مركز �مللك عبد�هلل �ملايل يكون كفيال باإبر�ز وبلورة

هذه �لإجناز�ت يف �صياق و�قع �إقت�صادي متكامل.

الريا�ض - األ-ح�سان ال�سيخ حم�سن • الدكتور

�لدكتور �صعود بن حمود �ل�صهلي

Saudi Arabia is intent on transforming itself into the financial gateway between the Middle East and the rest of the world. To this end, several financial and economic centres will be developed and built in various cities, the most important of which is the King Abdullah Financial District in Riyadh. The hope is that the King Abdullah Financial Centre will become the most influential financial centre in the Middle East, and draw the business of international companies.

The area will house the headquarters of several companies as well as hotels and governmental and public housing buildings. Transport will also be catered for by the new Metro station, a hub for Lines 1, 4 and 6. The station will be completed in 2017. The DORCHESTER spoke to several commercial and legal experts about the Centre. They were unanimously of the opinion that working parties should be formed to deal with the problem of domestic unemployment. The centre should be an opportunity for job creation for young men and women in Saudi Arabia. Experts and businessmen who spoke to the magazine all emphasized the need to develop flexible legislation to accommodate the ambitious goals of the centre. More flexible legislation will also serve to attract international companies to base offices there, and establish partnerships with Saudi companies and institutes which will give national companies the opportunity to acquire international experience.

In order for the King Abdullah Financial Centre to become a valid and stable financial district, rather than just an impressive collection of buildings, this legislation has to be drafted and passed, particularly legislation relating to residence and acquisition. This demand is underlined by all interested parties and will hopefully be implemented to facilitate the economic success of the new Saudi Arabian financial district.

The King Abdullah Financial DistrictLondon's Square Mile and New York's Wall Street inspire Saudi Arabia's new financial district in Riyadh

حمطة �ملرتو يف مركز �مللك عبد�هلل �ملايل- �أ�صرف على ت�صميمها �مل�صممة �لعاملية زها حديد ومن �ملتوقع �ن تنتهي عملية بناء �ملحطة يف عام 2017


4

للقطاع �ملايل �ل�صعودي، �لذي يرتكز �إىل �أكرب �إقت�صاد عربي

وميلك �أكرب �صوق مالية دون منازع، �إل �أنه يف �ملقابل يرى �أن

�ل�صوق �ملالية �ل�صعودية مل تبذل �جلهد �لكايف و�ل�صروي بعد

�لعائلية �ل�صركات ذلك يف مبا �خلا�ص �لقطاع لإ�صتقطاب

�لتي ت�صتاأثر بجزء مهم من

�ل��ن��ص��اط �لإق��ت��ص��ادي يف

عمليات جتري خارج �ل�صوق

م��ن خ��الل ت��رت��ي��ب��ات مع

و�لإقليمية �ملحلية �لبنوك

و�ل��ع��امل��ي��ة ت��ارك��ة ب��ذل��ك

�لإ�صتفادة من �صوق �صخمة

ب��ك��ل �مل��ع��اي��ري، ول��ذل��ك،

وبح�صب بوحليقه ل بد �أن ناأخذ بعني �لإعتبار �أن �لإقت�صاد

��ر �مل��وؤث ه��و و�حل��ي��وي��ة و�ل��ت��ن��وع �حلجم حيث م��ن �حلا�صن

د �ملباين و�لبنية و�لد�عم �لأهم لأي �صوق مالية ولي�ص جمر

�ل�صعودي �ملايل �لقطاع �أن�صطة �أن ينفي �أنه ل �إل �لتحتية،

يف م�صرفية، �أن�صطة د جمر كانت �أن بعد بالإنفتاح ب��د�أت

�صدور بعد ملحوظ، ب�صكل �لتاأمني قطاع فيه �إنتع�ص وقت

م مر�قبة �صركات �لتاأمني، كما و�إرتفع عدد هذه قانون ينظ

�صركة. �لثالثني عن �ملالية �ل�صوق يف �ملدرجة �ل�صركات

�أن �لعقاري على و�صك �لتمويل ن�صاط �أن ح بوحليقه ويو�ص

مة له باإعتبار �أن ي�صهد طفرة كبرية مع �صدور �لقو�نني �ملنظ

ل وبوترية �صنويا �ملليار�ت ع�صر�ت يتطلب �لإ�صكان قطاع

تنقطع، ما يعني طفرة يف �لأن�صطة �ملالية �إجمال، وكل ذلك

�مللك مركز على لي�ص �إي��ج��اب��ا �صينعك�ص بوحليقه ب��ر�أي

�إختالف �ملايل على �لقطاع بل على �ملايل فح�صب عبد�هلل

�أن�صطته.

وعلى �لرغم من �لعديد من �ملر�كز �ملالية و�لإقت�صادية �لتي

ز ذتها �ل�صعودية وهدفت �إىل جذب �ل�صركات فاإن ما �صيمي نف

�لتقارب هو بوحليقه بح�صب �مل��ايل عبد�هلل �مللك مركز

ن�صاطها �ملت�صل و�خلا�صة �لعامة �ملوؤ�ص�صات لكل �ملكاين

باخلدمات �ملالية، وهذ� يت�صح من �لأطر�ف �لرئي�صية �لتي

�مللك مركز بوحليقه يعترب ول �ملركز، يف �مل�صاريع متتلك

حا�صنا بل عقاري، تطوير م�صروع د جم��ر عبداهلل �ملايل

لالأن�صطة �ملالية وعنو�نا رئي�صيا �صمن مر�كز �ملال �لرئي�صية

"وول �أو لندن يف "�شيتي" مركز خطى على �ل��ع��امل، يف

�شرتيت" يف نيويورك.

�مللك كمركز �صخم م�صروع �إن�صاء �أن فيه �صك ل ومم��ا

�أ�صعار �إرتفاع �ىل �صيوؤدي �لريا�ص قلب يف �ملايل عبد�هلل

د يف هذ� �لإطار بوحليقه �أن �لعقار�ت �ملحيطة باملركز، ويوؤك

ل مهرب من هذه �حلقيقة بطبيعة �حلال ويقول:" لكن علينا

�لإقر�ر �أن مركز �مللك عبد�هلل �ملايل هو �إ�صافة نوعية لأفق

�ملتعاملني �صي�صتقطب رئي�ص معلم فهو �لريا�ص، مدينة

ر يف تطوير �لأحياء �ملحيطة بالأن�صطة �ملالية، وبالتايل �صيوؤث

ومتطلبات يتالءم مبا فيها �خلدمات م�صتوى �إرتفاع جلهة

�ملركز " وي�صري �إىل �أن كل ذلك يعتمد �إىل �أي مدى �صي�صتطيع

�إ�صتقطاب �لالعبني �لرئي�صيني �ملوؤثرين ليجعلو� من �ملركز

�ملركز �ملايل مق�صد� لهم.

�لدكتور �لإقت�صادي �ملحلل يعرب �أي�صا، �لإط��ار هذ� ويف

�صعود بن حمود �ل�صهلي عن �إعتقاده باأن مركز �مللك عبد�هلل

ملدينة لي�ص �ل��و�ع��د �مل�صتقبل م��ن رئي�ص ج��زء ه��و �مل��ايل

ز �صيعز �أن��ه معترب� ككل، للمملكة بل فح�صب، �لريا�ص

ر �لتناف�صية ق �إليها تقرير موؤ�ص �لقدرة �لتناف�صية �لتي يتطر

�لبيئة �ململكة متتلك �أن يلحظ �لذي ،2013 لعام للمملكة

ق فيه ز و�لذي تتفو و�ملناخ و�لأد�ء �لإقت�صادي �لقوي و�ملتمي

ويف �لكربى، �ل�صناعية �ل��دول �إقت�صاديات من كثري على

عبد�هلل املايل �مللك مركز �أن �ل�صهلي ي��رى �ل�صياق ه��ذ�

م ما هو مطلوب من �ل�صوق �ل�صعودية ماليا و�إقت�صاديا �صيقد

وم�صرفيا، ويقول يف هذ� �ل�صدد": �صيكون �ملركز �لأ�صخم

و�لأكرث متيز� يف �ل�صرق �لأو�صط لالأ�صباب �لتالية: �صخامة

حجم �ل�صيولة �ملالية �لفائ�صة باململكة، تز�يد تطلعات جميع

يف للدخول �لعاملية بال�صوق �لرئي�صيني و�مل�صتثمرين �لدول

مات �ملالية �لدولية على �ل�صوق �ل�صوق �ل�صعودية وتركيز �ملنظ

�ل�صعودية بعد زخم م�صاهمات �ململكة فيها".

هون مركز �مللك عبد�هلل �ملايل ول يتفق �ل�صهلي مع من ي�صب

لأن لندن، يف "Canary Wharf" وورف كناري مبركز

مرت مليون 1.6 م�صاحة على �صين�صاأ عبد�هلل �مللك مركز

مربع مرت �أل��ف 345 عن تزيد ل م�صاحة مقابل يف مربع،

�ل�صعودية �ل�صوق �إمتالك عن ف�صال وورف. كناري ملركز

مات لي�صبح مركز� ماليا وخدماتيا عامليا. حاليا جميع �ملقو

ن فر�ص عمل للموظفني من د �أن باإمكان �ملركز �أن يوؤم ويوؤك

�لرئي�صية �ملقار �صي�صم �أنه خ�صو�صا �لعايل �لتاأهيل ذوي

مل��ئ��ات �جل��ه��ات و�لأط��ر�ف �مل��رت��ب��ط��ني ب��ال��ن��ص��اط �مل��ايل

و�مل�صريف، و�لإقت�صادي عموما. ويقول :" �أحد �أبرز �جلو�نب

�أنه �ل�صعودية، للعمالة بالن�صبة للمركز �ملنتظرة �لإيجابية

�ل�صوق يف و�ملهار�ت �لكفاء�ت م�صتوى يرفع �أن ع �ملتوق من

�جلهات م��ن �لكثري ي�صتقطب ك��ون��ه ع��م��وم��ا، �ل�صعودية

ع �لأجنبية �لتي �صتاأتي بخرب�تها وكفاء�تها، و�لتي من �ملتوق

ر من �أن �ل�صهلي يحذ �أن تطلب عمالة �صعودية ماهرة" .�إل

جهة �أخرى من تاأثري مثل هذه �جلهات �لأجنبية على ق�صية

�ملحتمل �ملن�صاآت �أن يرى وهو �ململكة، يف �لبطالة مكافحة

ومهار�ت بخرب�ت عمالة تطلب لن �ملركز �إىل �إن�صمامها

ف �لعمالة �ملاهرة يف �ملجالت �ملالية متو�صطة، و�صوف توظ

و�مل�صرفية، ما قد يوؤدي �إىل �إرتفاع �أجورها نظر� لندرتها

حاليا بال�صوق �ملحلية، و�إمكان �أن ت�صبح نادرة ب�صكل ملحوظ

م�صتقبال يف وقت لن يكون هنالك مكانا ملنتظري �لعمل يف

�إطار قطار �لتوطني.

�لدكتور �إح�صان بوحليقة

ب�سكل التعامل املنا�سب من ال�سهلي:

حيث من الأجنبية ال�سركات مع اإ�ستثنائي

بنود التوطني اأو قواعد العمل وغريها

على العقاري التمويل ن�ساط : بوحليقه

�سدور مع كبرية طفرة ي�سهد اأن و�سك

مة له القوانني املنظ


3 y Development

ر على ينفي �ل�صويعر �أن �إن�صاء �أي م�صروع تنموي �صوف يوؤث

ذلك �أن يرى �أن��ه بامل�صروع، �إل �ملحيطة �لعقار�ت �أ�صعار

يعتمد على �لتو�زن يف �لعر�ص و�لطلب ما يوؤدي �ىل �إ�صتقر�ر

�لأ�صعار عند �صقف معني.

مرنة قوانني املركز لإجناح املطلوب

وت�سهيل الدخول والإقامة والتملك

ويوؤكد نائب رئي�ص �للجنة �لوطنية �لعقارية مبجل�ص �لغرف

بن �ملهند�ص حممد بجدة �لعقارية �للجنة رئي�ص �ل�صعودية

وت�صهيل قو�نني مرنة وجود �أهمية على بدوره �لأمري ح�صن

�ت �ل�صركات، ويعترب �أن هذ� �لدخول و�لإقامة و�لتملك ملقر

�صيوؤدي �إىل و�صع �ملركز مب�صاف �ملر�كز �لعاملية �ملناف�صة، ل

�صيما مع ميزة وجوده كمركز عاملي يف دولة هي �صاحبة �أكرب

ق على جميع �ملر�كز �إقت�صاد يف �ملنطقة، وهو بذلك �صيتفو

ميكن �أن��ه " �أعتقد وي�صيف: �ملجاورة، �ل��دول يف �مل�صابهة

حتويل �ملركز �إىل كيان خا�ص وحر و�إعتباره �إحدى �لكيانات

وجاذبة رة متطو وت�صريعات قو�نني متلك �لتى �لإقت�صادية

�ملناطق �أو �لإقت�صادية �ملدن وهيئة �لإقت�صادية �ملدن مثل

ل حتقيق روؤية �ملوؤ�ص�صة". �حلرة Free Zone هذ� ما �صي�صه

مبنطقة �ملحيطة �لعقار�ت �أ�صعار �إرت��ف��اع �إمكانية وح��ول

�ملركز ي�صري �لأمري �ىل �أن �لريا�ص تعاين حاليا من وفرة يف

ما. ح��د �إىل و�لتجارية �ملكتبية �مل�صاحات من �ملعرو�ص

ي�صاف �إىل ذلك حمدودية عدد �لفنادق �ملمتازة، معربا عن

م�صلحة يف �صي�صب يجب كما �ملركز ت�صغيل باأن �إعتقاده

ذلك يتبع وقد �لتوظيف فر�ص من و�صيزيد عموما �ملدينة

�أ�صعار �لعقار�ت ولكن لفرتة حمدودة لأن قطاع �إرتفاعا يف

ك مع فر�ص �لعر�ص و�لطلب. �لإ�صكان يتحر

�أي�صا عليه د يوؤك ما هو ومرنة، جذ�بة قو�نني و�إ�صت�صد�ر

�ملعجل �إبر�هيم بن حممد �ل�صيخ �ل�صعودي �لأعمال رجل

�لعاملية �ل�صركات ج��ذب �أمت��ن��ى �لإطار:" ه��ذ� يف وي��ق��ول

لت�صبح �لتجاري( )�لإمتياز �لفرن�صايز بنظام �ملخت�صة

لهذه ومنطلقا �ل��ت��ج��اري لالإ�صتثمار عا�صمة �ل��ري��ا��ص

يف ثقل ذ�ت �إقت�صادية قوة �ململكة و�أن �صيما ل �ل�صركات

ت�صهيالت تقدمي من بد ل ولذلك �لأو�صط، �ل�صرق منطقة

وحو�فز جلذب �ل�صركات �لعاملية �إليها.

�أن م�صروعا مثل م�صروع مركز �مللك عبد�هلل د �ملعجل ويوؤك

�أو �ململكة لي�ص يف Landmark لن��دم��ارك يعترب �مل��ايل

ككل �لأو��ص��ط �ل��ص��رق منطقة يف ب��ل فح�صب �ل��ري��ا��ص

عدد ي�صل �ل�صخامة ه��ذه مبثل م�صروعا �إن وي�صيف:"

�أك��رث �إىل فيه �لأب��ر�ج

من 60 برجا حتوي كل

�أمن��اط �لإ��ص��ت��ث��م��ار

�حل��دي��ث��ة ف��ه��و ب��ح��ق

ر� م�صغ منوذجا يعترب

�لإقت�صادية، للمدينة

�ل��الع��ب��ني �أن ح��ي��ث

�ل��رئ��ي��ص��ي��ني ه��م

�لإقت�صادية �ملوؤ�ص�صات

على �إحتو�ئه �ىل �إ�صافة و�لإ�صتثمارية، و�لتمويلية �ملالية

عدد من �لفنادق -فئة خم�ص جنوم- خلدمة هذه �ل�صركات

تعزيز يف �صي�صاهم ذ�ت��ه بحد وه��ذ� �ملالية و�ملوؤ�ص�صات

جتارية ومن�صاآت �إقت�صادية موؤ�ص�صات و�إجتذ�ب ت�صويقه

عاملية �إليه. ومن جانب �آخر ي�صري �ملعجل �إىل �أن قيمة �أ�صعار

�ملايل عبد�هلل �مللك ملركز �ملجاورة �ملناطق يف �لعقار�ت

�لعقار�ت قيمة جلهة �أو �لإي��ج��ار�ت جلهة �صو�ء �صرتتفع

من �لأخ��رى �ملناطق على �صلبا ر �صيوؤث �لذي �لأمر نف�صها،

وملمو�ص و��صح ب�صكل �لإي��ج��ار�ت قيمة �إنخفا�ص ناحية

�صة للمكاتب. خ�صو�صا تلك �ملخ�ص

مركز امللك عبداهلل املايل �سيقود م�سارا

اأ�سبه باملنطقة احلرة

وبني �لآر�ء �لر�صمية و�آر�ء رجال �لأعمال، ل بد من وقفة مع

�إنعاك�صاته وم��دى ته برم �مل�صروع ملاهية �إقت�صادي حتليل

�لإقت�صادية على �ململكة ب�صكل عام و�لعا�صمة ب�صكل خا�ص،

د �خلبري �لإقت�صادي �لدكتور �إح�صان ومن هذ� �ملنطلق يوؤك

�أكرث من �ملايل �صيحت�صن �مللك عبد�هلل �أن مركز بوحليقه

�ملعامل و��صحة لوحة تر�صم �لأب��ر�ج وه��ذه ، برجا 60

�ملهند�ص حممد بن ح�صن �لأمري

الأمري : الريا�ض تعاين حاليا من وفرة يف

املعرو�ض من امل�ساحات املكتبية والتجارية

املعجــل: اأمتنــى جــــذب ال�ســــركات العــــاملـــيــــة

املخت�ســة بنظــام الفـــرن�ســـايز

منطقة �لو�دي من جهة �صاحة �مل�صجد يف مركز �مللك عبد�هلل �ملايل

عمليات �لبناء يف مركز �مللك عبد�هلل �ملايل


2

�ململكة �لتي حتت�صنها و�لإقت�صادية �ملالية �ملر�كز د تتعد

لها ماليني وتر�صد �ل�صعودية يف خمتلف مدنها، �لعربية

ن �صورة و��صحة �ملعامل عن �أكرب �إقت�صاد يف �لريالت لتكو

ياأتي �أبرز هذه �ملر�كز منطقة �ل�صرق �لأو�صط، ولعل من

�أن له ر�صم �لذي �لريا�ص �ملايل يف �مللك عبد�هلل مركز

خمتلف لأن��ص��ط��ة و�حل��ا��ص��ن �ملنطقة يف �لأول ي��ك��ون

�ل�صركات �لعاملية، وللو�صول �إىل هذ� �لهدف، فاإن �ملطلوب

ز ح�صور �ل�صركات �لدولية، �صل�صلة �إجر�ء�ت وقو�نني تعز

ب يف هدف حتويل �ململكة �إىل نقطة و�صل بني منطقة وت�ص

كان �لق�صية وحول هذه ته. برم �لعامل و �لأو�صط �ل�صرق

ملجلة DORCHESTER جولة �أفق �إ�صتطلعت فيها �آر�ء

ر�صمية وخا�صة.

مركز امللك عبداهلل املايل اأ�سخم مراكز

املال يف ال�سرق الأو�سط

�لغرف مبجل�ص �لعقارية �لوطنية �للجنة رئي�ص ��د ي��وؤك

�مللك مركز �أن �ل�صويعر علي بن حمد �لأ�صتاذ �ل�صعودية

عبد�هلل �ملايل هو من �أ�صخم مر�كز �ملال يف �ل�صرق �لأو�صط

�إ�صتعمالته وما يحويه د �أو يف تعد �أر�صه �صو�ء يف م�صاحة

�أنه وبحكم وفندقية، وجتارية و�صكنية مكتبية �أب��ر�ج من

للم�صارف مقار وك��ذل��ك �مل��ال �صوق هيئة مقر م �صي�ص

و�ل��ص��رك��ات �ل��ت��ج��اري��ة

مبختلف ن�صاطاتها مالية

– وحم��ا��ص��ب��ي��ة –– وق��ان��ون وم��ق��اولت

�صوف وكذلك وحماماة،

لبع�ص �ت م��ق��ر ي��ص��م

�مل��وؤ��ص��ص��ات �لأك��ادمي��ي��ة

و��ص��وف ي��ك��ون �أح��د

��ع��ات �ل��ص��ي��اح��ي��ة �مل��ج��م

�أه��م م��ن يكون �صوف ل��ذ� �ل��ري��ا��ص، مدينة �جل��اذب��ة يف

�لأماكن �لتي تلتقي فيها جميع �ل�صركات �ملحلية و�لأجنبية،

�ل�صركات جتنيها �إي��ج��اب��ي��ات ذل��ك يف �ل�صويعر وي��رى

ذ�ت خربة عاملية ب�صركات �إحتكاكها �ء �ل�صعودية من جر

و�إجن��از�ت فاعلة �إقت�صادية ق��ر�ر�ت ينعك�ص ما طويلة،

�إقت�صادية م�صرتكة.

وفنادق ل�صركات ع��دة �ت م��ق��ر م��ن �ل��زخ��م ه��ذ� وب��وج��ود

مر�كز ع��ن ف�صال و�أهلية، حكومية �صكنية، وموؤ�ص�صات

حمطات �ملرتو يف �لريا�ص، فاإن �لأمر بر�أي �ل�صويعر يحتاج

يف و�ل�صابات لل�صباب فر�صا �صيخلق ما عمل، �أطقم �إىل

�لوطن وي�صاهم يف حل م�صكلة �لبطالة، ل �صيما و�أنه يحتوي

دور� �صتلعب �أنها �ل�صويعر يعترب مالية �أكادميية �أي�صا على

هذ� يف تعليمية موؤ�ص�صات من �لآن موجود هو ملا ال مكم

�ملجال لإعد�د �ل�صباب �ل�صعودي ل�صوق �لعمل بكفاءة وتاأهيل

ي�صري ذل��ك، على وبناء �ل��وط��ن. �إقت�صاد خلدمة عاليني

�ملعنيني من كبري جهد �إىل يحتاج �لأم��ر �أن �إىل �ل�صويعر

كل وت�صخري �مل��رك��ز �إىل و�ل��ف��اع��ل��ي��ات �ل��ص��رك��ات جل��ذب

قو�نني �إ�صتحد�ث ومنها ذلك، لتحقيق �ملتاحة �لإمكانيات

�لدول يف بها �ملعمول �لقو�نني مع تتناغم عة وم�صج مرنة

�ملماثلة و�ملناف�صة للمملكة �إقت�صاديا، وخ�صو�صا فيما يتعلق

�لدخول و�خلروج وحفظ وتاأ�صري�ت بالإجر�ء�ت �جلمركية

افة من �جلهات �ملعنية، �صو�ء �حلقوق بقو�نني و��صحة و�صف

�لتجارية �أو �لعدلية وتنظيم �ل�صوق �لعقارية و�إيجاد مرجعية

�لأ�صا�صية كات �ملحر من يعترب �ل��ذي �لهام، �لقطاع لهذ�

للتنمية يف �لوطن وجاذب لالإ�صتثمار �لوطني و�لأجنبي. ول

مركز امللك عبداهلل املايل

على خطى مركز "�سيتي" يف لندن و "وول �سرتيت" يف نيويورك

واملطلوب قوانني مرنة

ما عمل اأطقم اىل يحتاج املركز ال�سويعر:

الوطن وال�سابات يف لل�سباب �سيخلق فر�سا

وي�ساهم يف حل م�سكلة البطالة

�لأ�صتاذ حمد بن علي �ل�صويعر

�صورة ثالثية �لأبعاد ملركز �مللك عبد�هلل �ملايل يف �لريا�ص


1 Development

Royal AscotFamed for its hats and horses, the annual racing event keeps drawing the crowds

ESTIMATE with the Queen after the Gold Cup Royal Ascot, June 20th. Photo by Steven Cargill

Though the weather was a little wet on the final day of Royal Ascot, the spirits of the attendees could not be

dampened! This annual racing event takes place over five days in June; this year it ran from June 18th to the 22nd. Rural Berkshire is transformed and scenes resembling those from a Fitzgerald novel are not uncommon; the world’s best thoroughbred horses compete arrayed in a flurry of colour, high-class fashion abounds, gambling and partying are de riguer!

This year’s event saw thirty races in total and was visited by over 280,000 spectators. Despite the communal sense of fun and enjoyment in the stands, the £5 million prize money up for grabs is a reminder that what happens on the racecourse is still the most important thing about Ascot. With the racing here deemed some of the best racing in the world, there is a sense of importance, occasion and attention both justified and unique which sets it apart from other international racing events.

England’s most famous racecourseRoyal Ascot is held at the famous English racecourse, Ascot - one of the leading racecourses in the United Kingdom. Ascot today stages twenty-six days of racing over the course of the year, comprising eighteen flat races held between the months of May and October inclusive. While it does stage important jump races during the winter months, it is without a doubt the Royal Meeting, held in June, which is the major draw, the highlight being the Gold Cup. Equally prestigious individual races include the King George VI and Queen Elizabeth Stakes however, held on the course in July.

Of the famous faces in the crowd at Ascot, one of the most important to the event is Vice President, Prime Minister and Ruler of Dubai Sheikh Mohamed bin Rashid Al Maktoum. Dawn Approach, a horse owned

by His Highness, won the St James's Palace Stakes at Royal Ascot, one of Europe’s most prestigious races, on the first day. Sheikh Mohammed received the winner's trophy from Queen Elizabeth II.

Despite the communal sense of fun and enjoyment in the stands, the £5 million prize money up for grabs is a reminder that what happens on the racecourse is still the most important

thing about Ascot


Lifestyle 1

A light-hearted flutterWhile approximately £90 million is placed in bets at the Royal Ascot races, there is one more light-hearted bet for participants

to take part in – guessing what colour Queen Elizabeth’s hat will be when she is in attendance. Though the favourite this year was the colour pink, the Queen wore a purple hat on the day. This interest goes to show that dress code and costume is

all part of the fabric of Royal Ascot. One race-goer from Surrey, told DORCHETSR Magazine “While the horses are of course the main spectacle here, you cannot deny that part of the main charm of Royal Ascot is the excitement of dressing up for it with all your friends and family and then coming here and just being a part of it all. It’s fantastic!”

For many, the excitement of attending and joining in the spectacle is more important than whether the horse you back wins or loses. The classic British traditions, including the Queen’s attendance, highlight Royal Ascot’s history as an event for wealthy members of the upper classes and the aristocracy. However, in recent years, Royal Ascot has become much more open and

accessible to everyone. The traditional racing event is beginning to shed some of its less charming anachronisms. One example is that divorcees are now welcome in the Royal Enclosure; up until 1955 they were banned. Another addition to the tradition

this year was the introduction of a collection of high-end gazebos, strategically placed on the far side of the track from the grandstand. These come with light brown wooden chairs and white railings surrounding your allocated

The Queen has had in total, not including Estimate’s win, twenty-one

winners at Ascot

It was the first time in the race’s 207 year history that the Gold Cup has

been won by a reigning monarch

Presentation by John Francome to Qatar Racing Charles Hills and Jamie Spencer for The Albany Stakes Royal Ascot June 21st. Photo by Steven Cargill

Sheikh Mohammed bin Rashid Al Maktoum, was crowned winner of the prestigious St James's Palace Stakes at Royal Ascot

Presentation by Aishwarya Rai Bachchan to Mrs. S Power for The King's Stand Stakes Royal Ascot June 18th. Photo by Steven Cargill

Joseph O’Brien riding Declaration of war in the winners enclosure after winning the Queen Anne Stakes during day one of Royal Ascot. Photo by Steven Cargill


2 Lifestyle

area. Reserving one of these spots for twelve people will set you back £500; for a mere £200 more, you can get your own private butler!

Royal victoryOne of the highlights of the last day, and indeed the event as a whole, was the rare look of joy and happiness seen on the face of the reigning monarch of the United Kingdom when her horse, Estimate, claimed the victory in Royal Ascot's Gold Cup. The Queen has had in total, not including Estimate’s win, twenty-one winners at Ascot, with her first happening just two weeks after her coronation with the horse Choir Boy, in the 1953 Hunt Cup.

However, this was a historic moment as it was the first time in the race’s 207 year history that the Gold Cup has been won by a reigning monarch.

Though Royal Ascot 2013 will mainly be remembered as a successful and happy event, the sudden death of one of the winning horses tainted the final day. The four-year-old colt, Thomas Chippendale, won the Hardwicke Stakes for his trainer

Regardless of your background and age, there is still an unbeatable excitement in attending the famous

English racing event

Joseph O’Brien riding Declaration of War (R) lands the Queen Anne Stakes during day one of Royal Ascot. Photo by Alan Crownhurst

207 �صنو�ت، فاز ح�صان �لعائلة �لربيطانية لأول مرة منذ

�ليوم �لذهبي، يف بالكاأ�ص "Estimate" ��صتيميت �ملالكة

�لأخري من �صباق رويال �أ�صكوت "Royal Ascot" �ل�صهري

�لذي �أقيم يف برك �صاير "Berkshires" وذلك من 18 �إىل

22 حزير�ن 2013.

م هذ� �حلدث �ملميز مرة يف كل �صنة، وقد �إ�صتقطب هذ� ينظ

30 بروؤية متتعو� �لذين ج متفر �ل��ف 280 من �أك��رث �لعام

�صباقا، يف جو من �حلما�صة متازج مع برك �صاير يف م�صهدية

ب��روع��ة �لأل��و�ن. وعلى �ل��رغ��م م��ن ه��ذ� �جلو ر�ق��ي��ة مليئة

�لر�ئع، �إل �أن جائزة �خلم�صة ماليني جنيه �إ�صرتليني تبقى

�حلدث �لأهم يف �صباق ��صكوت.

ت�صارك يف كل عام، �صاحب �لتي �ل�صخ�صيات �أ�صهر ومن

�ل�صمو �ل�صيخ حممد بن ر��صد �آل مكتوم - حاكم دبي. ففي

St. " فجر �ليوم �لأول، فاز ح�صانه يف �صباق �صينت جيم�ص

James" �مللكي، وت�صلم �ل�صيخ حممد بن ر��صد �لكاأ�ص من ."Queen Elizabeth II" مللكة �ليز�بيث �لثانية�

وعلى �لرغم من �أن �لرهانات يف هذه �ل�صباقات �لتي و�صلت

�مل�صاركني فئة من �أن �إل ، �إ�صرتليني مليون جنيه 90 �ىل

�لتي �لقبعة ل��ون على زه��ي��دة ومب��ب��ال��غ �ل��ره��ان �إخ��ت��ارت

�صرتتديها ملكتهم.

ولذلك ل عجب �أن تطغى جمالية �أزياء �صباق رويال ��صكوت

�صباق هاويات �إح��دى �ليه �أ�صارت ما وهو عد�ها، ما على

�لأح�صنة �لتي قالت ملجلة DORCHESTER : "مع �لعلم

ن�صتطيع ل �أننا �إل �لأح�صنة، �صباق �لرئي�ص هو �مل�صهد �أن

�إغفال دور جمالية �لأزياء، �إذ �أنها تبقى مثرية، فما �أرتديه

ل حالة من �لروعة. ولهذ� يعتقد �أنا وعائلتي و�أ�صدقائي ي�صك

�أو فوز من �أهمية �أك��رث يبقى �حل��دث ح�صور �أن �لكثريون

خ�صارة �حل�صان �لذين ر�هنو� عليه".

ح�صور حتتم كانت �لقدمية �لربيطانية �لتقاليد �أن يذكر

�مللكة، بالإ�صافة �إىل �أبناء �لطبقة �لعليا و�لأثرياء ح�صريا،

حتى و�ملطلقات �ملطلقني ح�صور ، �ملثال �صبيل على فمنع

�لعام 1955. وقد فاجئت �مللكة �ليز�بيث �حل�صور هذ� �لعام

فو�صعت قبعة �أرجو�نية خالفا لعادتها يف كل �صنة يف �إرتد�ء

قبعة زهرية.

�سباق "رويال ا�صكوت"

م�صهدية جمالية باألوان ال�صيف

KIYOSHI (Jamie Spencer) wins the Albany Stakes Royal Ascot, June 21st.Photo by Steven Cargill


3

Lady Cecil and jockey Johnny Murtagh. Yet, in a sad turn of events, he then collapsed and died of a suspected heart-attack after crossing the line.

On the whole, Royal Ascot this year was thrilling and exciting to watch and even more so to attend. Regardless of your background and age, there is still an unbeatable excitement in attending the famous English racing event. With Royal Ascot 2013 at an end, the dates for next year’s event have already been set. The anticipation for the next horse racing drama surrounded by high class fashion is already growing.

• By Mostafa Al-Mossallami - UK

SOLE POWER (Johnny Murtagh) after The King's Stand Stakes Royal Ascot June 18th.Photo by Steven Cargill

The Royal Procession passes along the Straight Mile during day one of Royal AscotUnion Jack flags on day one of Royal Ascot

The first meeting of the new 2013/2014 Jumps season began with a bang as Ascot welcomed the popular United House Group Day and annual firework spectacular, on Saturday 2nd November


Lifestyle y4

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2013

luxurious rooms

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a wonderful vacation

memories to cherish

Berlin’s HauptbahnhofMoving Berlin’s economy onto the right track!

One of the largest and most stimulating European capitals, Berlin has emerged as a world leader

in art, culture, science and commerce – a huge transformation from the Cold War years. To enable Berlin to continue evolving, the Central Train Station or Hauptbahnhof, located opposite the Regierungsviertel or Governmental Quarter on the river Spree, was inaugurated by Chancellor Angela Merkel in May 2006, creating a new transport hub. The station is one of several long-term development projects in the area and was the first to be completed under the Berlin City “Heidestrasse Master-plan”. Ultimately, a new city district called Europacity will be developed just north of the station which will be a major contributor to the German economy.

Designed by architect Meinhard Von Gerkan of the Hamburg-based firm Gerkan, Marg

und Partner – responsible for Berlin’s Tegel Airport and also for redesigning Berlin’s Olympiastadion between 2000 and 2004 – the station is now the largest in Europe, connecting Berlin to provincial Germany and beyond. Each day, from 1,200 to 1,800 trains pass through the station, with direct connections to much of continental Eurasia, as well as Scandinavia, Russia and even Kazakhstan. Located on the site of the former Lehrter Bahnhof, Berlin’s central station is a triumph of both beauty and practicality, and processes around 300,000 passengers on a daily basis, and as many as 400,000 passengers on weekends.

Planning and DevelopmentThe construction started in 1995 and was completed eleven years later. The whole project cost approximately €700 million and was only possible through considerable

investment from the European Union, the Federal Government, the Federal State of Berlin, and Deutsche Bahn AG.

The architectural vision was to integrate the existing transport system into a new and holistic transport centre. This vision was successfully and aesthetically realised by Von Gerkan, though not without challenges. Von Gerkan was assisted by the Egyptian engineer Hani Azeer, who won several accolades for his work as head engineer on the project. Azeer had previously worked as head engineer on the tunnels built beneath

Berlin’s central station is a major factor in attracting investors to the city, due to its contribution to the transport infrastructure and its

prime location

Investors and Developments around the Berlin’s Hauptbahnhof railway station


Economy 1

Berlin Tiergarten (the largest park in Berlin) in 1994. The Hauptbahnhof project included designing and constructing tunnels that pass under the river Spree, as well as station bridges, which, due to the curve in the station’s rail design, required a whole new bridging concept. Azeer was honoured at the inauguration by Chancellor Merkel and received the prestigious Merit of the State of Berlin – or the Verdienstorden des Landes Berlin – in October 2006. Furthermore, Von Gerkan’s design has garnered wide popularity from nearly all that have seen it. The glass halls overarching the entire station allow natural light and a feeling of space to permeate the building - right down into the lower levels of the station, setting it apart stylistically from other European stations.

A Jewel in Deutsche Bahn’s CrownHolger Auferkamp, Berlin spokesperson for Deutsche Bahn, regards the station as a shining success: ‘For Berlin as the capital of Germany, a main station was extremely important. Before the Hauptbahnhof opened in 2006, there was no connection between the various routes in Berlin,

meaning commuters and tourists had to figure out how to get from A to B themselves, by taxi or in some other way. It has been a huge advantage for travel, for investors and for Berlin’s infrastructure in general.’ When asked about the planning phase, Auferkamp recalls the difficulties in winning approval in Berlin. ‘Berliners are a tough crowd. We had a lot of negative press; it was called the “station in the desert”, because no one

thought that a station in that location was a good idea.’ However, on the opening day, prior to the 2006 football World Cup, Berliners were won over and the station has since become a transport and tourist landmark. It is a huge draw for visitors and has become a mainstay of practically every city tour. All the commercial units within the station, covering a total area of 70,000 square metres, were leased immediately,

Shops and restaurants are well integrated in the station


2

demonstrating investors’ confidence in the station. Auferkamp underlines the station’s dynamic nature: ‘We listen to feedback from our customers and have already installed new seating areas, added new information boards.’ A new and larger travel centre in the station is planned as a direct result of listening to public feedback.

Project Berlin HeidestraßeBerlin’s Central Station is a major factor in attracting investors to the city, due to its contribution to the transport infrastructure and its prime location. It is impossible to separate the importance of the station’s location from the long-standing Master-plan

of Berlin Heidestraße. This Berlin city initiative will develop the area between Nordhafen, Heidestraße and Humboldthafen. It seeks to develop the area north of the station into a new quarter: Europacity – a district set to become a vital part of Berlin’s landscape by combining business enterprises, cultural attractions and residential buildings. It will be developed with a strong emphasis on sustainability and respect for the surrounding environment. As a former derelict site and no-man’s land during the early 1990s, the area is ideal for development, lying in the heart of central Berlin, on the river, next to the governmental quarter, and now, thanks to the Hauptbahnof, with excellent transport links. The advent of Europacity will alter Berlin's landscape entirely and extend business and cultural hubs to the north and west.

The Hauptbahnhof is the lynchpin in promoting Europacity to developers and investors, making the area one of the most important regions of Berlin. The two major stakeholders in developing the area are Deutsche Bahn and CA Immo. CA Immo

is one of the leading property investment companies in Central Europe, and together they own approximately 31 hectares of the prime 40 hectare site (the city of Berlin owns the remainder). CA Immo is the owner as well as the occasional developer of large swathes of the region, including the land south and south-west of the Hauptbahnhof, stretching up the river Spree to Spandauer Schiffahrtskanal. Although the 2008 financial crisis did slow down construction, the Senatsverwaltung fuer Stadtentwicklung und Umwelt (The Senate Department for Urban Development and Environment) has reported that Europacity development is now advancing as expected, enabling certain cultural projects in the area of Hamburger Bahnhof (Museum für Gegenwart) – to the north of the station – to open, as hoped, sometime between 2015 to 2018. Upon completion, the new city area will blend industry, business, art and residential interests.

Development in and around the HauptbahnhofCA Immo is leading the way in development around the Hauptbahnhof but has also sold plots to other private investors. An obvious

Estimated passengers and visitors: 300,000 per day

Total surface area: approx. 70,000 square metres

Commercial units: approx. 70,000 square metres

Parking spaces: 860

Trains (daily): over 1,200

Escalators: 54

Lifts:(total) 32

(of which) all-glass panoramic: 6

Berlin Hauptbahnhof at a Glance

S-Bahn arriving at the central railway station

The whole project cost approximately €700 million and was only possible through considerable investment from the European Union, the Federal Government, the Federal State of

Berlin, and Deutsche Bahn AG

Central railway station (Hauptbahnhof) in Berlin

Berlin’s central station is a triumph of both beauty and practicality, and processes around 300,000 passengers on a daily basis, and as many as 400,000 passengers on

weekends


3 Economy

choice of development on land, which is so close to the station and the governmental quarter, is for large hotels. Indeed, CA Immo has sold three of their plots to hotel groups. The 2-star Meininger Hotel has already been completed, the Intercity Hotel will be completed this summer, and the exclusive Steinberger Hotel am Kanzleramt will be completed by the end of the year. The international energy group, TOTAL, has elected to base its operations in a new building known as Tour TOTAL, which was completed this year. It also owns a storage facility in the far north of Europacity.

Markus Diekow of CA Immo explains that every development is planned in association with the city of Berlin to ensure sustainable and attractive development. Construction has commenced on a further office building. CA Immo will also develop residential units in association with Hamburg Team which specializes in project development of environmentally–friendly residential units, and who will also be responsible for the first apartments built in Europacity. In total, it is expected that around 700 new apartments will be built. One site in the Europacity area that is proving to be increasingly popular with investors, Kunstcampus, is made up of Hamburger Bahnhof and the Rieckhallen (which contains the Christian Flick Collection) and is flanked by the river. Klaus Groth of the Groth Gruppe bought a riverside building (see graphic on pages 38-39). for €50 million, with the

intention of further developing some 120 high-end apartments. It is expected that future buyers will pay around €4,500 per square metre within the site. Groth cites the location next to the station as one of the main reasons for his investment. ‘The area is an absolute jewel’, he says. ‘Due to the building’s location next to the Hauptbahnhof, a more perfect location for a new city residential development is hard to imagine.’

Other investors include Ernst Basel and Partners. The Swiss engineering, consultancy and planning firm has purchased a six-storey building for their German headquarters within the Kunstcampus, and is moving from Potsdam (approximately 20 km southwest of Berlin) to Europacity due to its location. Edel AG, the renowned German music and entertainment group is relocating from Hamburg to Berlin and has called its headquarters the Kunstkubus. High-voltage system providers 500Hertz will also base their operations there, having bought a plot of 8,000 square metres for €13.2 million (see graphic on pages 38-39). The firm has outgrown its current premises in Berlin Treptow and intends to construct a 12-storey building to accommodate its 600 employees. The central location was a major part of the decision to relocate to Europacity and CEO Udo Giegrich predicts a further investment of around €45 million to complete construction.

This investor confidence was not always in evidence. Dietmar Bartholome of the Senate Department for Urban

Berlin city centre

ه��وب�تب��اهنه��وف برلني ف�ي �ملرك��زية �ملحط��ة تع��د

"Spree" �صربي نهر على تقع �لتي "Hauptbahnhof"

قبالة مركز �حلكومة، �أكرب حمطة نقل يف �أوروبا. �إفتتحتها

�مل�صت�صارة �لأملانية �أجنيال مريكيل "Angela Merkel" يف

�أيار/ مايو 2006. وقد �أ�صرف على ت�صميم �ملحطة �ملهند�ص

Meinhard Von" ج��ريك��ان ف��ون م��ي��ن��ه��ارد �ل��ص��ه��ري

."Gerkan

ت�صتقبل �ملحطة حو�يل 300 �ألف م�صافر� يوميا من خمتلف

�ملناطق �لأوروبية ويرتفع هذ� �لعدد �إىل 400 �ألف م�صافر� يف

عطلة نهاية �لأ�صبوع.

تخ�صع �ملنطقة �لو�قعة حول �ملحطة حاليا لإعادة تطوير عام

مت مدينة بالإ�صافة �ىل �أعمال �لتح�صني و�لرتميم، وقد قد

The Master-plan’ �ل��رئ��ي��ص��ي��ة �خل��ط��ة ب��رل��ني

Heidestraße‘ كمبادرة لتطوير �لأر��صي �ملحيطة مبحطة

عليها �صيطلق جديدة منطقة �إىل وحتويلها هوبتباهنهوف

."Europacity " إ�صم �أوروبا�صيتي�

و�لتجارية �ل�صكنية، �مل�صاريع بني �أوروبا�صيتي مدينة جتمع

و�ل�صناعية، هذ� وقد مت �صخ حجم هائل من �لإ�صتثمار�ت

،"Europacity" خلا�صة و�لعامة بهدف �مل�صاركة يف مدينة�

"Klaus Groth" غ��روث كلو�ص �لعقاري �ملطور �أن علما

ي�صري �ىل �أن موقع �ملحطة �لإ�صرت�تيجي، كان �ل�صبب �لرئي�ص

عه على �لإ�صتثمار مببلغ 50 مليون يورو يف �ملنطقة. �لذي �صج

جميع ��رت �أج قد هوبتباهنهوف حمطة �أن �ىل �لإ�صارة مع

وحد�تها �لتجارية ما �إن �أ�صبحت جاهزة لالإ�صتثمار، �إ�صافة

�إ�صتثماريا هائال. كما قا تدف ت�صهد �فتتاحها �أنها ومنذ �ىل

عامل هوبتباهنهوف حمطة من �لقريبة �ملناطق وت�صكل

�أ�صا�صي يف جذب �لكثري من �مل�صتثمرين �ىل �ملنطقة.

وبالرغم من �أن حمطة هوبتباهنهوف غري م�صوؤولة مبا�صرة

عن دعم �لإقت�صاد يف برلني، �إل �أنها تعترب عامال �أ�صا�صيا يف

عملية دعمه.

هل و�صعت حمطة

هوبتباهنهوف يف برلني

االإقت�صاد على الدرب

ال�صحيح؟

It is expected that the future buyers will pay around € 4,500 per square

metre within the site


4

Development and Environment has been involved with the site of the Hauptbahnhof environs (south of Invalidenstrasse) since conception of the station. At the end of the nineties, he says, not one private investor could be found to commit to the area. The site was a waste-land, surrounded by nothing; it was difficult for investors to imagine that the area would eventually become a vibrant location. The area became attractive to investors only when the station was completed and investors could begin to visualize its potential. The popular bar and restaurant ‘Capital Beach’ located directly across from the station was tenantless for two years yet now attracts thousands of tourists and Berliners alike. Public and political criticism is still an issue, but the fact that the site is unfinished is not to do with lack of funding. Practical and technical issues, e.g. the completion of S-Bahn lines slowed development as did the building of an underground car park. Public confidence and approval is growing with the number of buildings completed.

On the right trackThe station itself may not be solely responsible for contributing to Berlin’s overall economic health, but it is a major factor, says Christian Breitkreutz of the Industrie Handelskammer (IHK) Berlin (Chamber of Industry and Commerce Berlin). The transport system of a city undisputedly contributes to a city’s economic development, meaning that the Hauptbahnhof plays an extremely important role in Berlin’s development, as part of the transport concept as a whole. The completion of the U5 line in 2019, which will connect the east of the city via Alexanderplatz as well as the extension of tram lines from Nordbahnhof in the north west of the Mitte district, will increase the Hauptbahnhof’s attraction and connections and further increase the area’s potential.

Berlin’s history has ensured that its development since reunification has been an historical one-off challenge for planners and

investors, in European terms. The amount of development achieved since 1989 across the city is astounding and the Hauptbahnhof is one of the developments adding to Berlin’s attractiveness to inhabitants and investors.

The attraction to and massive investment in Europacity can be in part attributed to Berlin’s Hauptbahnhof, though experts maintain that the economy of the city and indeed country are linked to, though not dependent on the

station. It cannot be denied, however, that a massive amount is being invested in the area directly around the Hauptbahnhof by public and private sectors, attracted by the location. The station helps attract investors but its attraction cannot really be separated from its location in the middle of the new Berlin, next to the Government quarter and on the river.

The gaps in the city’s skyline left by years of war, neglect and political and financial factors are being filled in a little at a time. The city is growing into its full potential. This is still some way off but the Hauptbahnhof is one of the guarantees that the process is on the right track.

• By Johanna Whelehan - Berlin

Views of the shops, tracks, escalators and lifts guaranteeing smooth movement of passengers and trains alike

Auferkamp: “Berliners are a tough crowd. We had a lot of negative press; it was called “the station in the desert”, because no one thought that a station in that

location was a good idea”

Markus Diekow: “In total, it is expected that around 700 new apartments will be built in

Europacity”


5 Economy y

LEB_3339_BMW_X6_for_Dorchester_21x28cm.indd 1 7/9/13 11:38 AM

The EXPO REAL trade fair for property and investment took place in Munich from October 7-9, 2013. Though the

fair takes place in Germany and the majority of visitors were European, there was also a strong contingent from the US and Russia, meaning that it was possible to gauge the climate of the international property industry. The general impression at the end

of the three-day event was one of growth and optimism, with the industry emerging from the recession, hopeful and proactive. Investors are once again in the market for new opportunities, the logistics sector is growing and the residential market is in recovery. EXPO REAL renewed its status as one of the most important events in the real estate calendar, with networking, exhibits, expert insights and panel discussions offering perspectives from all areas of the industry.

This was the sixteenth EXPO REAL; the fair is growing in size and prestige every year. The city of Munich is the perfect location, easily

accessible with plenty of accommodation from the luxurious to the standard. The city is one of the most economically successful in Germany and boasts amazing landscapes as well as the famous annual Oktoberfest. There were 36,000 participants from all over the world. Trade visitors represented 18,600, marginally down from 18,911 in 2012 and there were 17,400 exhibiting companies, up from 17,238 in 2012. The fair was attended by a very international audience, the top ten countries represented were Great Britain, Austria, Holland, Switzerland, France, Russia, Poland, the Czech Republic, the USA and Luxembourg. These visitors came from across the whole spectrum of the industry, from architects to city planners, developers to investors, construction experts to facility management companies. The fair puts the emphasis on face to face encounters. In our world of social media networking and online research, the personal meeting remains an important part of business, the fastest way to build contacts, networks and trust. EXPO REAL is the best platform to meet the main players in the industry, to update knowledge and expertise and take part in industry-wide discussions. Claudia Boymanns, Exhibition Director at EXPO REAL, says “This is the true value of EXPO REAL. Meeting, sharing,

Expo Real 2013 Positive outlook for the market

64,000 m2 exhibition space

36,000 participants from 68 countries

17,400 exhibitors

1,038 journalists and media representatives

Key facts

In its sixteenth year, the annual EXPO REAL trade fair for property and investment is going from strength to strength, with major industry players gathering in Munich to present, discuss and network. The fair has become an unmissable event in the property calendar for developers, investors, architects and planners alike. The DORCHESTER takes a look at the events and outcomes of the 2013 EXPO REAL.


Happening in Town 1

learning and socialising are four compelling reasons the event continues to be so well-attended by real estate professionals.”

EXPO REAL: Something for everyoneThe conference programme of EXPO REAL delivered on expectations. Lectures and discussions were held under the following banners: Exhibitor events, Planning & Partnerships Forum, Expo Real Forum, Special Real Estate Forum, Investment Locations Forum, Press Events and the Networking Lounge. Themes ranged from where to establish your international real estate fund centre to creating residential areas to architectural museum pitches. Facility management, retail location selection, foreign investment strategy and planning were also covered. Lectures from international speakers gave an overview of the property sector in Russia and Italy.

There was also a series entitled ‘Not Far From Here’ which investigated the European landscape for investment in countries such as Poland, Austria, Romania. Visitors and investors could also get a closer look and some industry insight into the emerging markets of Croatia, Bulgaria, Serbia and Bosnia and Herzegovinia. In a sister section, entitled ‘A bit further away’, locations like Turkey and Russia were examined and the opportunities and risks investigated. Irina Babyuk, Chairwoman of the Committee for Investment of St. Petersburg, Russia, said: "In view of the increasing competition for investors among regions and cities, it is necessary to develop investment potential. As an attractive business platform, EXPO REAL provided St. Petersburg with the opportunity to demonstrate this potential. During the trade fair we presented the

Hopeful and proactive inve-stors are once again in the market for new opportunities

There was a positive atmos-phere at EXPO REAL 2013 – we are on the brink of a turning point


2

city’s projects which aroused interest among European companies. It is worth noting that we signed two agreements worth 1.7 billion euros,” proving that EXPO REAL is an extremely important place to meet and woo new investors and for investors to find new opportunities.

There were also several career day events for students, graduates and those looking for a career move or boost as well as ‘The World of Hospitality Stand’. George Schlegel, Managing Director, Choice Hotels Europe and one of the many new exhibitors taking part in the "World of Hospitality" joint stand, was enthusiastic: "My impression is that the stand enjoys a high profile and has established itself as the meeting point for the industry at EXPO REAL. For us it is an opportunity to take part in EXPO REAL in a very cost effective way."

European growth pushes confidence in the industryA report published by US private real estate services company Cushman & Wakefield claims that there is mounting evidence of a European economic recovery. Expansion in the economies of almost all European countries is expected in 2013 and 2014. The Eurozone GDP grew at a 1.2% annual rate in the second half of 2013, the strongest growth in over two years. The growth of the European economy is vital for world growth as the European nations form the largest economic bloc in the world (a GDP of approximately USD 17 trillion compared to the US GDP of USD 16.2 trillion). Eurostat figures released at the end of August showed economic confidence growing in 14 of the 17 Eurozone countries, including all of the five largest. This optimism was reflected at EXPO REAL, with Head of EMEA Capital Markets at Cushman & Wakefield UK opining, “There was a positive atmosphere at EXPO REAL 2013 – we are on the brink of a turning point. The mood is continuing to improve and we are seeing an increased willingness to do business right

That is why the forums are very important for us – they stimulate

further thinking


3 Happening in Town

across the board." This European insight proved important and relevant. As Teresa Dreo, Business Unit Manager Real Estate Germany at Unicredit Bank AG, Germany confirms, the importance of European growth is not confined to the private sector.

"For us as a property financier, EXPO REAL, the International Trade Fair for Property and Investment, is the most important trade fair bar none. With our focus on central and eastern Europe, especially Germany, we see EXPO REAL as the ideal networking platform for these markets. The continuing keen interest in German property is clearly reflected in the positive mood at the trade fair and contributes significantly to its overall success."

للعقار Expo Real معر�ص ميونيخ مدينة �إ�صت�صافت

ت�صرين 9 �إىل 7 من ع�صر، �ل�صاد�صة بن�صخته و�لإ�صتثمار،

�حل�صور �أن �ل�صنة، ه��ذه و�ل��الف��ت ،2013 �لأول/�أك��ت��وب��ر

�لأوروبي كان �لطاغي، ف�صال عن �حل�صور �لرو�صي و�لأمريكي،

ما �أك�صب �ملعر�ص طابعا عامليا يف جمال �صناعة �لعقار�ت.

وعلى �لرغم من �أن �ملعر�ص يقام لل�صنة �ل�صاد�صة على �لتو�يل،

يف �صاهم وقد �أهميته، تنامي �أثبتا زو�ره ونوعية حجم لكن

جناح �ملعر�ص �أي�صا موقع ميونيخ �ملثايل، �صو�ء جلهة طبيعتها

�خلالبة �أو �أماكن �لإقامة �لفاخرة فيها، �إ�صافة �ىل �أن ميونيخ

يقام وفيها �أملانيا. يف �لإقت�صادية �مل��دن �أجن��ح من تعترب

مهرجان �أكتوبر �ل�صنوي �ل�صهري.

من �صخ�ص �أل��ف 36 �ل�صنة ه��ذه �ملعر�ص يف و��ص��ارك ه��ذ�

�لتجارة، يف يعملون 18.600 بينهم �لعامل، �أنحاء خمتلف

مقارنة ب� 18،911 �صاركو� �لعام �ملا�صي، وو�صل عدد �ل�صركات

ال �إرتفاعا عن �لعام �ملا�صي حيث �لعار�صة �ىل 17،400، م�صج

مثلها �لتي �لأول �لع�صرة �ل��دول �أما �صركة. 17،238 �صارك

�صوي�صر�، هولند�، بريطانيا،�لنم�صا، فكانت �ملعر�ص ح�صور

�ملتحدة �لوليات �لت�صيك، بولند�، جمهورية ، رو�صيا فرن�صا،

�لأمريكية و لوك�صمبورغ.

�إختالف على �لعقاري �لقطاع يف �لعاملني �ملعر�ص ح�صن

مرور� رين �ملطو �ىل �ملعماريني، �ملهند�صني فمن �أطيافهم

ل طي �ملدن، فامل�صتثمرين وخرب�ء �صركات �لبناء، و�صك مبخط

�لإتفاقات �مل�صرتكة، وعقد �للقاء�ت Expo Real فر�صة ��د �أن ل ب��دي��ل عن �ل��ت��ج��اري��ة وت��ب��ادل �خل��رب�ت، مب��ا ي��وؤك

�أكرث فر�صا ن توؤم ت��ز�ل ل �لتي �ل�صخ�صية، �لإجتماعات

�أهمية من �لإنرتنت لعقد �ل�صفقات �لتجارية، وبالتايل تبني

ة �ملن�ص و �لأم��ث��ل �مل��ك��ان ه��و Expo Real معر�ص �أن

�لعقار�ت، �صناعة يف جمال �لرئي�صيني عبني لال �لأ�صا�صية

بيومان�ص كالوديا Expo Real مديرة ��دت��ه �أك ما وه��ذ�

"Claudia Boymanns" م�صرية �ىل �أن �لقيمة �حلقيقية للمعر�ص تكمن يف حتوله �إىل ملتقى للعاملني �ملخ�صرمني يف

�لقطاع �لعقاري.

ز الثقة بالقطاع العقاري منو الإقت�ساد الأوروبي يعز

ويكفيلد �ن��د ك��و��ص��م��ان ��ص��رك��ة ت��ه ت��ق��ري��ر �أع��د �أظ��ه��ر

�أن �لأمريكية، �لعقارية "Cushman & Wakefield"ر�ت متز�يدة على �إنتعا�ص �لإقت�صاد �لأوروبي، هنالك موؤ�ص

ع �أن ينعك�ص �إيجابا على �إقت�صاد�ت جميع �لبلد�ن ومن �ملتوق

�ملحلي �لناجت �صهد �إذ و2014، 2013 عام بني �لأوروب��ي��ة

يف �ملئة يف 1.2 بلغ �صنويا من��و� �ليورو ملنطقة �لإجمايل

�لن�صف �لثاين من عام 2013، وهو �أف�صل منو منذ عامني.

�لنمو على ينعك�ص حيوي �أم��ر �لأوروب��ي �لإقت�صاد فنمو

�لإقت�صادي �لعاملي، ل �صيما و�أن �لدول �لأوروبية ت�صكل �أكرب

ل 17 ترليون تكتل �إقت�صادي يف �لعامل )ناجتها �ملحلي ي�صك

دولر مقارنة بالناجت �ملحلي �لأمريكي �لذي ي�صل �إىل 16.2

"Eurostat" يورو�صتات �أرق��ام و�أظهرت دولر(. ترليون

�لإقت�صادية �لثقة �ملا�صي، �آب �صهر نهاية يف �ل�صادرة

�ملتنامية يف �أربعة ع�صر دولة من �أ�صل �صبعة ع�صر دولة يف

معر�ص يف جليا �لتفاوؤل ه��ذ� ظهر وق��د �ل��ي��ورو، منطقة

قطاع يف �لنمو على �ل�صوء �صلط �ل��ذي Expo Real�لعقار�ت، وهذ� �إن دل على �صيء، فهو يدل على �أن معر�ص

Expo Real �صوف يالقي مزيد� من �لنجاح �أي�صا يف �لعام Holland Property مديرة �أو�صحته ما وه��ذ� �ملقبل،

�لإيجابي �ملناخ �أن ر�أت �لتي ،Plaza Christa Thijssen�أو�صاط �لعدد �لكبري من �أيام يف �لذي �صاد على مدى ثالثة

ع �مل�صاركني يف �ملعر�ص �لعاملني يف �لقطاع �لعقاري، �صي�صج

على م�صاركة عدد �أكرب يف �لعام �ملقبل، وقالت:" بد�أنا منذ

�ليوم �لتح�صري للم�صاركة يف Expo Real للمرة �ل�صابعة،

ع خرب�ء �لقطاع �لعقاري، فهو بالفعل �ملكان �ملنا�صب لتجم

فيما ن�صهد نهو�ص �لإقت�صاد جمدد� من كبوته".

معر�ض Expo Real يف ميونيخ

ع يعك�ض الثقة بالقطاع العقاري العاملي ح�سور متنو

For us, EXPO REAL is really the place to be!


4

Among its many attractions, EXPO REAL continues to grow and attract senior level decision-makers because of the breadth of its remit. The fair is concerned with all areas of the industry. The presence of the entire value-added chain in the property sector is one of the reasons that exhibitors and participants make sure that they get to Munich in October. Heiner Franssen, Managing Director, LIC Asset

Management GmbH from the US, was among the participants and said: "EXPO REAL offered us an exceptional opportunity to meet with senior-level contacts, critical to our business, across every sector of the international real estate investment market including service providers, consultants, investors, and lenders." On a broader level, architecture is a topic closely connected with Real Estate, but one which perhaps does not get the attention it deserves from the industry. EXPO REAL ensures that architects and city-planners have a forum to speak and a platform to share ideas with other actors within the industry. For Barbara Ettinger-Brinckmann, Chair of Germany´s Federal Chamber of German Architects, the conference forums were a real highlight. She is keen to see architects play a bigger role here: "EXPO REAL is an important trade fair, which is a must for architects and town planners. We should become even more closely involved because everything that is centre-stage here would not be possible without our planning input. That is why the forums are very important for us – they stimulate further thinking."

The growth in the real estate industry that EXPO REAL has highlighted will most likely ensure that the fair is even bigger next

year. Christa Thijssen, Director of Holland Property Plaza, from the Netherlands said "The positive mood of so many real estate professionals attending EXPO REAL in only three days encouraged us to now already start the preparations for our seventh participation in EXPO REAL. For us, EXPO REAL is really the place to be!" 2014 will see the fair becoming even bigger and better, as the economy and the industry gets slowly back on its feet.


5 Happening in Town y

Qatar is a country whose political and economic influence far exceeds its geographical size. Native Qataris

(approximately 250,000) are outnumbered by foreign workers and immigrants who push the country’s population up to around 1.7 million (as at 2010 census); around 1 million live in the capital, Doha. The country’s proven reserves of oil and natural gas have seen Qatar top on the Forbes list of the world’s richest countries in the past year. Qatar’s investment have impacted London’s economy and investment landscape to such an extent that the city has been jokingly referred to by some as “ Londoha”.

With a sovereign wealth fund of approximately £115 billion in assets, and benefitting from a global reach, the Qatar Investment Authority

(QIA) has already invested £10 billion in Britain, and plans further investment in the future. The QIA owns 20 percent of the London Stock Exchange and

20percent of Camden market - its influence and interests are far-reaching and diverse, ranging from the financial to the cultural. The international investment portfolio as a whole is astoundingly diverse, from retail (Valentino), electronics (Siemens) to property. These investments, it is hoped, will secure decades of growth and prosperity for the country. With a population expected to double within a decade, it is clear that Qatar is looking for some strong returns on its investment in London.

One of the most recent Qatari investment in London is an addition to the London skyline on the river Thames and one that is hard to miss. The Shard is Europe’s tallest building. With its towering glass structure and unique shape, the building is architecturally impressive and reflects Qatar’s sky-high ambitions quite obviously.

The Shard - an addition to the SouthbankLondon developer Irvine Seller and Italian architect Renzo Piano joined forces with financial backing from Qatar Diar, a property investment company wholly controlled by the QIA. English Heritage feared that the building would be a ‘shard of glass through

the heart of historic London’, before it was completed and

although this may be true, it is also widely agreed that it is the most beautiful shard of glass. The Shard is constructed from over 11,000 angled and faceted panes

of glass so that it continuously

reflects its environment, changing appearance with the seasons as it mirrors its surroundings. The 95-storey skyscraper (72 of which are habitable) is the tallest building in the European Union and can be seen from almost any point in London. It also has the most expansive view of London. The building certainly has all of its sustainability and environmentally correct credentials in order; it is made from 95 percent recycled materials and powered by its own heat and power plant (CHP) operating on natural gas. Fuel is converted to electricity and heat is recovered from the engine to supply hot water to the building.

Holding the advantageQatar finds itself in an extremely unique position, as it is one of the few countries in the world which could and can do business at a time of financial crisis and credit crunch. The turbulence of the financial markets in 2007 put construction of the Shard in jeopardy. Simon Halabi, of the Syrian business dynasty, listed on the Forbes Rich List and major investor in the Shard sold 30 percent of his stake at a huge loss as did other major shareholders, including Mr Sellar himself. In total, 80 percent of the stock was sold to Qatari funds in order to save the project. Qatar invested a massive £150,000,000 and provided the first tranche of financing, allowing construction to begin.

This was at a time (2008) where there was very little liquidity in the market place and risky investments were almost unheard of as the world market was, if not paralyzed, then extremely stunted. Qatar was almost alone in investing aggressively rather than scaling down. The Financial Times in London described Qatar as ‘the world’s most aggressive deal-hunters’ – a backhanded

Qatari Investmentin LondonThe Gulf State of Qatar shows discernment and courage in portfolio decisions

Qatar is a country whose political and economic influence far exceeds its

geographical size

The international investment portfolio as a whole is astoundingly diverse, from retail (Valentino), electronics

(Siemens) to property


Investment 1

compliment. “We have cash,” said Ahmad al-Sayed (now CEO of the QIA) in 2009. “Cash is king.” The cash-rich Arab state took advantage of its unique financial position and invested in some of the most famous and well-known British assets. From the top of the Shard, one can pinpoint the locations which are financed in whole or in part by Qatari funding.

Tracking Qatar funding across London To the EastIf one looks east along the Thames, the tall corporate buildings and futuristic design of one of London’s financial districts, Canary Wharf, can be seen. Through its majority holding in Songbird Estates Plc (public limited company), Qatar owns large parts of this business epicentre. At the heart of Canary Wharf are the headquarters of Barclays Bank, in which Qatar is a major investor. In Stratford, further east, one can see the Olympic Village owned by Qatari Diar. Qatari Diar is renowned in real estate circles for ground-breaking developments and has funded high-risk and high-profile projects in London, such as the former American embassy in Mayfair and the Chelsea Barracks.

To the WestMore centrally, in London's moneyed district of Knightsbridge in the west of the city, lies the exclusive and world-famous department store, Harrods. The previous owner, Egyptian-born Mohammed Al Fayed, sold the store to the Qatari royal family’s investment company for a reported £1.5 billion.

Qatar’s former Prime Minister, Sheikh Hamad Bin Jassim Bin Jabr Al-Thani, said Harrods would add ‘much value’ to its portfolio of investments and generate ‘good and stable returns as a business’. Harrods not only promises on-going business, but is itself a historic London landmark which will continue to attract tourists for years to come.

Across the road from the department store lies One Hyde Park at the Mandarin Oriental, another Qatari investment. This is a major residential and retail complex located in the heart of one of London’s most exclusive and expensive areas, directly on Hyde Park. The development includes three retail units: Rolex, McLaren Automotive and the Abu Dhabi Islamic Bank. There are 86 residential properties; reportedly the world’s most expensive block of flats. The project’s website describes them as ‘the best penthouses, at the best address in the best city in the world’ and sell for a record-breaking £6,000 per square foot: that is £2,000 more than the rest of prime central London real estate and significantly more than other super prime locations such as Monaco or Hong Kong. Some of the notable and glamorous owners of these include Australian singer Kylie Minogue;

Rinat Akhmetov, the Ukrainian businessman and oligarch, one of the richest men in the world, as well as Sheikh Hamad bin Jassim bin Jaber Al Thani.

CentralIn March of this year, the purchase of the InterContinental London Park Lane hotel was secured in a £400 million deal. Constellation Hotels, part of the Qatar sovereign wealth fund, paid £301.5 million for the InterContinental Hotel Group’s 57-year lease on the 447-bedroom property close to Hyde Park, beating six other bidders. Not content with this, Constellation Hotels paid a further £100 million in a separate deal to acquire the freehold from the Crown Estate, the property company that controls the assets of the Queen. Qatari Diar have acquired the sites of Chelsea Barracks, a £4.7 billion project and the American Embassy building in the heart of Mayfair, a Grade II listed building where development is restricted. The list of Qatari Diar’s assets is impressive; they are almost exclusively in prime locations and icons of British architecture. A lack of bureaucracy, a long-term perspective and unrestricted liquidity at Qatari Diar enabled them to pioneer high-end real estate investment during a time when there was very little competit ion,

Qatar invested a massive €150,000,000 and provided the first tranche of financing, allowing construction to begin in the Shard

in order to save the project

London’s population is expected to grow 17 percent over the next decade meaning an additional 1.17 million people will need to be

housed

Olympic Village – London 2012


2

credit was limited, prices were unstable and confidence was low. “When the rest of the world was lying down, they were a young fund with a lot of ambition and firepower to match” says a source working on Qatari-funded deals.

So how does the Shard stack up as an investment?Opinions vary on this question and there are several factors to consider. The property remains largely untenanted, though there are only ten residences between the 53rd and 65th floors, at prices of approximately £50 million per residence. The Shard contains the highest residences in Europe, with the penthouse at 735ft, the only residence in London to boast a view of the sea. In February 2013, the Sunday Times reported that developers were in negotiations to secure the first tenants of the Shard’s 25

floors of office space. Oblix, a restaurant owned by the esteemed Zuma group, a collaboration between Arjun Wany and chef Rainer Becker is located on the 32nd floor. More recently in May, the Daily Mail reported that only six of the Shard’s 72 floors were rented out due to a combination of ‘high prices and poor location’.

The high prices and the fact that the Shard is located south of the Thames (this is a significant factor as it is situated across the river from the city of London: the Shard is asking city prices while not boasting a city location) may be cause for concern. Another potential problem on the horizon for the Shard is the annual business rates payable to Southwark Council (the London borough or district where the Shard is situated); these fees could be up to £12 million, usually paid by the businesses occupying the building. Developer Sellar is in talks with the council to resolve this issue. Better news for the Shard is that Hutong, Aqua Restaurant and the Shangri La Hotel (occupying floors 34-52) are scheduled to open in 2013, and in July 2013, the Qatari broadcaster, Al Jazeera, announced its intention to open a TV studio there. Although The Shard may not be providing the best yield currently it looks like Qatari Diar knows exactly what it is doing. Mr. Ali Shareef Al Emadi, QNB Group Chief

Executive Officer and Board Member of the Shard Funding Limited, said: "This towering endeavour embodies our vision to create an alternative investment to oil.”

More importantly, capital growth in prime London real estate has appreciated 35 percent since 2009 and hover at 16 percent above their 2007 peak. This means that since its acquisition, the site’s capital value would have grown more than 16 percent. The total investment into the Shard and its surrounding area was reportedly £1.5 billion. With the Shard alone covering a total of 1,200,000 square feet, investors have arguably already seen a return on their investments.

Historically, property values in London have almost doubled every decade, with super prime property performing best and being least affected by economic turbulence. Mark Collins at CBRE, the world’s largest business real estate services firm, formerly CB Richard Ellis Group, provides evidence to back his theory that the Southbank (where the Shard is located) will soon be within the ‘prime boundaries’ of London, in his report ‘Prime Expansion’. London’s population

The Shard is Europe’s tallest building, with its towering glass structure and unique shape, the building is architecturally impressive and reflects Qatar’s sky-high ambitions

quite obviously

Harrods

Qatari Investment in London:• Harrods, famous high-end

department store (owners)• The Shard, Europe's tallest

building (80% Major investors)• One Hyde Park, the world's most

expensive apartments (owners)• The London Stock Exchange (20%)• Camden Market (20%)• The Olympic Village (owners)• Sainsbury's and Barclays banks

(major investors)• Liquefied Natural Gas (Britain's

biggest supplier)• InterContinental London Park

Lane hotel (owners)

One Hyde Park


3 Investment y

is expected to grow 17 percent over the next decade meaning an additional 1.17 million people will need to be housed. Over the past decade, the population grew by 800,000 people and property prices rose 75 percent. Property prices can reasonably be expected to increase, even if it does not perform in direct correlation with the growth rate, and the Shard will by then be a ‘prime’ location in London.

Investing in the futureAlong with its physical acquired assets, Qatar continues to export its liquefied natural gas (LNG) to the UK, becoming Britain’s biggest supplier over the past two years, though growth in Qatar’s liquefied gas exports is slowing, overall. Qatar has the world’s largest deposits of LNG and the third largest gas reserves in the world after Russia and Iran. Because Qatar has long-term objectives and the budget to finance those objectives, immediate yields and short-term capital growth are of little concern. Qatar is using its current advantage to invest in London and acquire assets which will only increase in value, not just over the next decade, but for the long-term.

Qatar’s strong investment strategy has been impressive. The hope is that the British assets acquired will be the basis of more growth back home, economically and secondarily by promoting tourism. As it seeks to become a cultural and sporting hub ahead of the football World Cup in 2022, Qatar seems to be drawing all the right sorts of attention.

• By Mostafa Al-Mossallami & Ashley Hammond - UK

�أغنى من كو�حدة قطر "Forbes" فوربز جملة �صنفت

بالد �لعامل بالنظر ملا متتلكه من نفط وغاز طبيعي، ف�صال

عن عدد �صكانها �لذي ل يتعدى �ل�مئتان وخم�صون �ألفا.

قة �إىل ولعل هذ� ما جعل منها دولة تتجاوز حدودها �ل�صي

�أ�صقاع �لعامل ل �صيما لندن، �لتي ت�صتثمر فيها مليار�ت من

و�ملطاعم و�لفنادق، و�لبور�صة �لعقار�ت يف �ل��دولر�ت

و�ملتاجر �لعمالقة وغريها...،

قلب يف �لأع��م��ال مركز من �لأك��رب ة �حل�ص قطر ومتتلك

�ل�تاميز �صفاف على "Canary Wharf" و�رف كناري

كما "Barclays"باركليز بنك �إىل �إ�صافة ،"Times"ومتتلك قرية �لألعاب �لأوملبية، ف�صال عن �إمتالكها وب�صكل

معلما ل ي�صك �لذي ،"Harrods"هارودز متجر ح�صري

تاريخيا ونقطة جذب لل�صياح على مر �ل�صنني.

عا جمم قطر متتلك ،"Harrods" ه��ارودز من وبالقرب

،"One Hyde Park" صكنيا فارها ي�صمى و�ن هايد بارك�

من �مل�صاهري يقت�نه و�ل��ذي �لعامل، يف �لأغلى يعترب �لذي

يني، بالإ�صافة �إىل وزير خارجية قطر �لأ�صبق، �ملمثلني و�ملغن

كما �إ�صرتت قطر من خالل �ل�صندوق �ل�صيادي �لقطري "

فندق " the Qatar sovereign wealth fund InterContinental" لني ب��ارك لندن �أنرتكونتيننتال

London Park Lane"، مببلغ فاق �ل� 400 مليون جنيه �إ�صرتليني.

من %20 و لندن بور�صة من %20 بنحو قطر ت�صاهم كما

برج ع��ن ف�صال ،(Camden Market) ك��ام��دن ��ص��وق

على ل��ن��دن قلب يف �ل��زج��اج��ي “The Shard” �ل��ص��ارد

م�صاحة )11000 مرت مربع(، وهو �أطول برج يف �أوروبا )95

�لربج ويت�صمن خ��الب��ة، معمارية بهند�صة ويتميز دور(

�لإ�صتجمام �أم��اك��ن ع��ن ف�صال �صخمة، ومكاتب م��ر�ف��ق

The” �ل��ص��ارد م��ن %80 قطر متتلك حيث و�مل��ط��اع��م،

جنيه مليون 435 مبلغ ب�صخ �صاهمت وق��د ،“Shard�ل�صارد، وقد �إ�صرتليني وهو تكلفة بناء �ملرحلة �لأوىل من

بلغ حيث لقطر متوقعا غري عائد� بالفعل �ملبلغ هذ� ق حق

�صعر �ل�صقة يف �ل�صارد )بني �لطو�بق 53 و 65( 50،000،000

�لتي �لوحيدة �لدولة هي وقطر �إ�صرتليني، جنيه مليون

غامرت و�إ�صتثمرت بهذه �لن�صبة �لعالية، يف وقت كان �لعامل

من ج��د� كبرية �ملخاوف وكانت عاملية، مالية باأزمة مير

خطر �لإ�صتثمار يف بريطانيا بخا�صة يف م�صروع مل ير �لنور

قطر �أن �إل �صاغرة، �أخ��رى فر�ص هناك كانت حيث بعد،

بريطانيا، يف �لإ��ص��ت��ث��م��ار�ت �صالبة م��ن ة مطمئن ك��ان��ت

وبرهنت ذلك من خالل م�صاركتها يف �ل�صارد كما و�صر�ئها

�لعديد من �لفنادق، و�ملطاعم، و�مل�صاريع �ل�صكنية.

وترتبط قطر بعالقات �إقت�صادية قوية مع بريطانيا، حتى

يوليو/ يف �أعلنت �لقطرية �لإخبارية �جلزيرة �صبكة �أن

يف تلفزيوين �أ�صتوديو لها تفتتح �صوف �أنها 2013 متوز

متاجر �صل�صلة �أن قطر متتلك �ل�صارد. ف�صال عن مبنى

�جلوية �خلطوط و�صركة "Sainsbury’s"صانزبوريز�

."British Airways" لربيطانية�

حول �لت�صاوؤلت من �لعديد �لإ�صتثمار�ت هذه كل وتثري

�حلجم �لهائل، ويرون �ملفارقة يف كون قطر دولة �صغرية

باإمكانها باملليار�ت و�إ�صتثمار�تها �ملادية بقدر�تها �أنه �إل

عالمات ت��ط��رح كما كربيطانيا، كبري� بلد� تدعم �أن

�أو �لنفوذ من نوع ذلك يتبع كان �إذ� ما حول �إ�صتفهام

بات �أن بريطانيا. حيث لقطر يف د�خل �ملعاملة �خلا�صة

" �إ�صم لندوحة يطلق على لندن - على �صبيل �ملمازحة -

."Londoha

غازها قطر ت�صخ �لإ�صتثمار�ت، ه��ذه ك��ل م��ع وت��ز�م��ن��ا

كونها كبرية، ة ح�ص ه��ذ� يف ولها لندن، �ىل �لطبيعي

متتلك ثالث خمزون من �لغاز �لطبيعي بعد رو�صيا و�إير�ن.

تثري بريطانيا يف قطر �إ�صتثمار�ت �أن �ل��ق��ول، وجممل

�لتقدم، يف �أن يرتد كل هذ� �أن قطر تطمح �إل �لف�صول،

�إقت�صاد� و�صياحة، ما يجعلها �أ�صكاله �ىل �لدوحة، جميع

ية �أحق على ح�صلت �أن بعد �ملنطقة، يف ب��ارزة حمطة

�إ�صت�صافة كاأ�ص �لعامل يف �لعام 2022.

االإ�صتثمار القطري يف لندن

Qatar finds itself in an extremely unique position, as it is one of the few countries in the world which could and can do business at a time of financial crisis and

credit crunch

The Shard


4

A luxury villa and its Guest house built on a 3000m2 plot, all fenced and wooded.

Cologny, Geneva

VILLA NANT


Luxury property 1


2

The ground floor

An entry araising on a staircase leading to the two upper levels. This level includes a TV lounge, a library, a living room and dining area with access to the terrace with the lake views, a prefessional kitchen with cold chamber, an office with private bathroom and a decked area for laundry, a grocery corner and wine cellar.

This entire floor is approximately 200m2

The first floorA Lake view En-suite bedroom with a dressing room, bathroom and toilet. A VIP bedroom with the lake view, bathroom and toilet.A second En-suite with the lake view, a large walk-in closet and bathroom with a double shower, bath and toilet.

This entire floor is about 150m2

The second floorThe entire top floor dedicated to the magnificent master bedroom with a lake view, a terrace, a large dressing room, a bathroom with a double shower, a bath and toilet.

This floor has a surface area of 195m2

For more information: [email protected]


3 Luxury property y


4

The G-20 summit was held in St. Petersburg on the fifth and sixth of September 2013, a summit that was overshadowed by events in Syria, with fundamental differences arising between American and Russian leaders. Despite this issue, leaders reached a series of decisions relating to economic issues, and economists have described this summit as the most productive summit in the history of the twenty, from an economic perspective. The final statements were recommendations focused on taking the necessary measures to support growth and maintain stability, including improving resistance to external factors, strengthening financial systems, and creating jobs.

The various heads of state expressed agreement on several economic issues; first and foremost the issue of tax evasion, multi-national corporations' tax evasion in particular. This resulted in a schedule and time-frame being agreed upon and important undertakings were made on automatic exchanges of tax data. In addition, it was agreed that adjustments to ‘the shadow banks’ were necessary, The ‘Group of Twenty’ has also pledged to cooperate with emerging countries in the fight against tax evasion, by improved searching and tracking of monies hidden in tax havens.

They called for emerging countries to join the international convention on the exchange of information on taxpayers, at the same time recognizing that participation by these countries poses logistical challenges for the poorest of them. Under the Charter, states automatically transfer information on the financial activities of individual citizens to the tax authorities in their home countries. The encouragement of private investment, particularly for infrastructural projects, was also discussed at the G-20 summit. Leaders agreed on the importance of strengthening

and developing infrastructural projects, according to the requirements and objectives of each country. The Middle East was represented by Saudi Arabia, the only Arab member in the group.

Another cause of concern for emerging economies was the anticipated ‘tapering’ off by the US, moving away from the ‘easy money policy’ it has been practicing for the last several years. Fears about how this tapering would affect other economies was discussed in detail at the summit and agreement was reached that any tapering would be orderly and clearly communicated. However, in a surprise move, American Federal Reserve continued to support the US economy by injecting $85 billion every month. US shares jumped and shares in Europe also saw a five-year high in response to the news. Emerging economies saw the biggest rises in share prices due to the fact that they had been hit the hardest. No schedule has been put in place for tapering to commence.

The Group of Twenty (G-20) is comprised of America, Russia, India, Brazil, China, Japan, Argentina, South Korea, Canada, Mexico, Australia, Turkey, Britain, France, Germany, Indonesia, Saudi Arabia, South Africa, Italy and the European Union, representing two-thirds of world trade. Among the G-20 are also all of the so-called BRICS states (Brazil, Russia, India, China, and South Africa). The BRICS currently represent 50 percent of the global economy, making them a massive but still emerging economic power.

The G-20 was established in 1999 and originated from a meeting of finance ministers of the major countries, who agreed to start a dialogue between industrialized countries and emerging countries.

The G-20 SummitPolitical Division & Economic Consensus

�ت �ل�صابقة- ث بنك �لإحتياطي �لفدر�يل - بخالف �ملر وحتد

عن �إحتمال زيادة �صيا�صته للتحفيز �لنقدي من خالل زيادة

من �ملزيد ل�صخ �ل�صيادية �ل�صند�ت من م�صرتياته حجم

�ل�صيولة �لنقدية لل�صوق، و�أبقت جلنة �ل�صيا�صات على ن�صبة

وهي �ملئة 0.25يف ن�صبة عند �ل�صفر من قريبة �لفائدة

�لن�صبة نف�صها �ملعتمدة منذ كانون �لأول عام 2008.

�لنا�صئة �صيما ل �لأ�صو�ق تهدئة �إىل �لقر�ر هذ� ى �أد وقد

�إمكانية من �أجو�ئها على ي�صيطر �خل��وف كان �لتي منها

�لتحفيز �صحب خطة �إىل �لأمريكي �ملركزي �لبنك جلوء

ت �لنقدي، حتى �أن دول �لربيك�ص "BRICS" نف�صها �إ�صتعد

�أمريكي لتحقيق 100 مليار دولر �صت لهذه �خلطوة وخ�ص

�لإ�صتقر�ر يف �أ�صو�ق �ل�صرف يف حال �صحب �لبنك حتفيزه.

�صت �لأ�صو�ق �ل�صعد�ء و�إنعك�ص ذلك �إرتفاعا �أما �ليوم فتنف

لية. لع �لأو يف �أ�صعار �لذهب و�ل�ص

يذكر �أن �لبنك �ملركزي �لأمريكي ي�صرتي حاليا حو�يل 85

�إجر�ء غري وهو �خلزينة، �صند�ت من �أمريكي دولر مليار

�صوق ودعم �ملدى طويلة �لفائدة خف�ص ي�صتهدف تقليدي

�لرهن �لعقاري و�لقرو�ص وتقلي�ص ن�صبة �لبطالة �ملرتفعة.

لبنان حالق، • اآلني

على قوي اإقت�سادي لعب ال�سعودية

على كذلك و الأو�سط ال�سرق م�ستوى

م�سدر من متثله مبا العاملي امل�ستوى

خمزونا اإمتالكها و عامليا للنفط اأ�سا�سي

اإحتياطيا كبريا

كري�صتني لغارد، مديرة �صندوق �لنقد �لدويل، خالل �إجتماع وزر�ء مالية

ام �مل�صارف �ملركزية خالل قمة جمموعة �لع�صرين �لدول وكذلك حك


5 y Economy

�لأمر �لنا�صئة، �ل��دول يف �مل�صطربة �لأ�صو�ق �إيقاع ل�صبط

�لذي يتالءم وما ورد يف �لبيان �خلتامي للقمة.

�ســــــانت خـــــطـة �ستــتــابع الع�ســـرين

..."St. Petersburg" بـــــطـــــر�ســـــبـــــورغ

وم�ساريع البنى التحتية للبلدان

�جلانب يف و�لرو�صية �لأمريكية �ملتعاظمني تني �لقو تناحر

�ل�صيا�صي ، ل ينفي ما �أجمع عليه �خلرب�ء �لذين �إعتربو� �أن

برنامج �لقمة �لإقت�صادي كان �أحد �أكرث �لرب�مج �لإقت�صادية

جرى �إذ �ملجموعة، ه��ذه قمم �إجتماعات تاريخ يف �إنتاجا

ح�ص�ص حل�صاب جديدة �صيغة بو�صع �لإلتز�م �إىل ل �لتو�ص

عجز من للحد ،2014 عام بد�ية يف �لدويل �لنقد �صندوق

�ل�صريبية لل�صيا�صة �لأ�صا�صية و�حللول بلد، كل يف �ملو�زنة

قمة ��دت �أك �أخ��رى جهة م��ن �لف�صاد. ومكافحة ��دة، �مل��وح

ث حتد حيث �لعمالت حل��روب رف�صها �لع�صرين جمموعة

�لكمي �لت�صهيل �إىل للعودة ة ني وج��ود عن �خلتامي �لبيان

لل�صيا�صة �لنقدية �لتقليدية. ف�صال عن تركيز �ملجتمعني على

�لتحتية �لبنية يف ذل��ك يف مبا �خلا�ص �لإ�صتثمار ت�صجيع

ر�أ�ص حركة ية بحر �ملتعلقة �مل�صاكل حل �صرورة وبالتايل

ونق�ص �لعالية �لربحية ذ�ت �مل�صاريع �إىل وبالإفتقار �ملال،

�لبنية م�صاريع تعزيز �إطار �لقمة يف و�صعت وقد �لإئتمان،

ة عمل لتطوير �صوق �ل�صند�ت بالعمالت �ملحلية. �لتحتية خط

"Valdimir Putin" بوتني �لرو�صي فالدميري �لرئي�ص وقال

لبلد�ن "ميكن �أن��ه �لقمة نهاية عقب �صحفي م��وؤمت��ر يف

ية يف �إجتاهات عديدة وقد ك بجد جمموعة �لع�صرين �أن تتحر

St. Petersburg" لكل " �صانت بطر�صبورغ ة و�صعت خط

طة �لأجل خلف�ص �لعجز يف �مليز�نية، ف�صال بلد �أهد�ف متو�ص

�أنه على م�صدد� ، �صاملة" هيكلية �إ�صالحات �إج��ر�ء عن

�لوقت �ملالية، ويف �لأ�صو�ق �لتد�بري تعزيز ثقة "ينبغي لهذه �لإقت�صاد يف �لإ�صتثمار على �مل�صتثمرين ت�صجيع نف�صه

�حلقيقي. وينبغي جلميع هذه �لتد�بري تعزيز منو �لإقت�صاد

�لعاملي وجعله �أكرث ثباتا و�إ�صتقر�ر�".

التحفيز ل�سيا�سة تقلي�ض ل اأمريكا:

النقدي

وعلى �لرغم من حتول �صيا�صة �لتحفيز �لنقدي �لتي يتبعها

من �لعديد وتخوف ، م�صكلة �إىل �لأمريكي �ملركزي �لبنك

�إل �أو تقلي�صه، �لنقدي �أمريكا لتحفيزها �لدول من �صحب

عات و�أحدث �صدمة يف �أن قر�ر �لبنك �أتى خمالفا لكل �لتوق

�لأ�صو�ق، �إذ قال بعد قمة جمموعة �لع�صرين �إنه �صيبقي على

زي��ادة �أم��ام �مل��ج��ال ل��ي��رتك �ل��ن��ق��دي، للتحفيز �صيا�صته

منو تباطاأ �إذ� �لأمريكية �خلزينة �صند�ت من م�صرتياته

لالإنفاق �ل�صديد �خلف�ص تاأثري حتت �لأمريكي �لإقت�صاد

�ملركزي �لبنك يف �ل�صيا�صات جلنة و�أ��ص��ارت �حلكومي.

طة، متو�ص بوترية ه منو يو��صل �لإقت�صاد �أن �إىل �لأمريكي

ز م�صيفة �أن �لتخفي�صات يف �لإنفاق �حلكومي �لتي دخلت حي

�لتنفيذ منذ بد�ية �آذ�ر �ملا�صي كبحت �لنمو.

�ملتحدة �ململكة ورئي�ص بوتني فالدميري �لرو�صي �لرئي�ص

لربيطانيا �لعظمى �إيرلند� �ل�صمالية ديفيد كامريون

و�سعت القمة يف اإطار تعزيز م�ساريع البنية

ال�سندات ة عمل لتطوير �سوق التحتية خط

بالعمالت املحلية

�ست الأ�سواق ال�سعداء بعد قرار اأمريكا تنف

بعدم تقلي�ض �سيا�سة التحفيز النقدي

�صورة جماعية لأع�صاء دول �لربيك�ص

و�مل�صت�صارة بوتني ف��الدمي��ري �ل��رو��ص��ي �لرئي�ص

�لأملانية �أجنيال مريكيل

�لو�صط(، )يف �أفريقيا جلنوب �لأوىل �ل�صيدة ، زوما بوجنيكيل

�لإيطايل )من و�ملال �لإقت�صاد وزير زوجة �صانغينيتي، ولوت�صينا

�ليمني(، خالل زيارتهما لأكادميية فاجانوفا للباليه يف رو�صيا


4

"م�صارف �صبط حول وكذلك �ل�صريبية للمعطيات �لآلية

ملنح �لتقليدي �لتنظيمي �لإط��ار خ��ارج تعمل �لتي �لظل"

دت جمموعة �لع�صرين بالتعاون مع �لدول �لقرو�ص. كما تعه

ب �ل�صريبي من خالل م�صاعدتها �لنا�صئة يف مكافحة �لتهر

مالذ�ت يف مو�طنوها يخفيها �لتي �لأم��و�ل �أث��ر �إقتفاء يف

�صريبية، وقالت �إنها تريد �أن تن�صم �لدول �لنا�صئة �إىل ميثاق

�ل�صر�ئب، د�فعي بخ�صو�ص �ملعلومات تبادل ب�صاأن دويل

يات حتد ت�صكل �ل��دول تلك م�صاركة ب��اأن �إع��رت�ف��ه��ا رغ��م

تنقل �مليثاق فقر�. ومبوجب �لأ�صد للدول بالن�صبة لوج�صتية

للمو�طنني �ملالية �لأن�صطة ب�صاأن معلومات تلقائيا �ل��دول

�لأفر�د �إىل �صلطات �ل�صر�ئب يف بالدهم.

عت �أكرث من 50 دولة على �مليثاق. وقال �لبيان �خلتامي ووق

�ملعلومات تبادل يف �صيبد�أون �ملجموعة �أع�صاء �إن للقمة

�ن ومبا .2015 عام بنهاية �ل�صريبية �لأمور ب�صاأن تلقائيا

�أغلب �لدول �لنا�صئة مل تن�صم �إىل هذ� �مليثاق فقد �إتفقت

تبادل �خلرب�ت معها ودر��صة �صبل �لع�صرين على جمموعة

�أخرى مل�صاعدة تلك �لدول على �لإن�صمام، و�أيدت جمموعة

و�لتنمية �لإقت�صادي �لتعاون مة منظ عمل خطة �لع�صرين

و�لتي �ل�صر�ئب من �ل�صركات ب لتهر ي بالت�صد �خلا�صة

يف �لع�صرين جمموعة مالية وزر�ء �إجتماع خ��الل علنت �أ

مو�صكو يف متوز �ملا�صي.

جمموعة يف الأو�سط ال�سرق جتربة

ال لل�سعودية الع�سرين .. دور فع

فيها �لكيميائي �إ�صتخد�م وق�صية �ل�صورية �لأزمة عن عد�

مت" قمة جمموعة �لع�صرين، فاإن �ل�صرق �لأو�صط التي "�صم

باب من �صوى �ملجموعة طاولة على يكن مل �لإقت�صادي

�مل�صلم و�لبلد �لوحيد �لعربي �لبلد وهي �ل�صعودية م�صاركة

�لثاين �ملتمثل يف �ملجموعة �إىل جانب �أندوني�صيا.

تي�صري �لدكتور �ل�صعودي ث �خلبري �مل�صاركة حتد وحول هذه

�خلنيزي ملجلة DORCHESTER فقال:" �ل�صعودية لعب

على وكذلك �لأو��ص��ط �ل�صرق م�صتوى على ق��وي �إقت�صادي

له من م�صدر �أ�صا�صي للنفط عامليا و �مل�صتوى �لعاملي مبا متث

"�ململكة �أن �إىل لفتا " كبري� �إحتياطيا خمزونا �إمتالكها

�لأمر عاملية، �إقت�صادية كقوة نف�صها تفر�ص �أن �إ�صتطاعت

لها �لإن�صمام �إىل قمة جمموعة �لع�صرين" . و�أ�صار �لذي خو

يف فاعال ع�صو� وباإعتبارها "�ل�صعودية �أن �إىل �خلنيزي

جمموعة �لع�صرين ميكنها �مل�صاركة �لإيجابية يف عملية �إنعا�ص

�لركود �لذي �إخر�جه من حالة �لعاملي، وحماولة �لإقت�صاد

خالل من وذل��ك حاليا، �لعامل يف �ل��دول من �لكثري تعي�صه

�مل�صاهمة يف و�صع �صو�بط حتول دون �إرتفاع �أ�صعار �لنفط".

�ل�صعودية على �لع�صرين جمموعة قمة لت عو فقد ولذلك

زالت بيد ل املالية بالأ�سواق م التحك اآليات

قطب اأحادي اجلانب يتمثل بالوليات املتحدة

�صورة جماعية لروؤ�صاء ووفود �لدول �مل�صاركة يف قمة جمموعة �لع�صرين

Africa

Asia

Asia

Asia

Asia

Asia

Eurasia

Europe

Europe

Europe

Europe

Europe

Europe

Middle East

North America

North America

North America

Oceania

South America

South America

South Africa

Indonesia

South Korea

India

Japan

China

Russia

Turkey

Italy

United Kingdom

France

Germany

European Union

Saudi Arabia

Mexico

Canada

United States

Australia

Argentina

Brazil

208,000

384,100

1,068,700

809,400

1,649,800

3,801,000

900,600

370,800

953,000

1,127,000

1,226,400

2,768,000

4,567,000

518,300

756,800

962,600

3,969,000

522,000

152,690

494,800

384,315

878,198

1,155,872

1,824,832

5,963,969

8,227,037

2,021,960

794,468

2,014,079

2,440,505

2,608,699

3,400,579

16,414,483

727,307

1,177,116

1,819,081

15,684,750

1,541,797

474,954

2,395,968

Developing

Developing

Advanced

Developing

Advanced

Developing

Developing

Developing

Advanced

Advanced

Advanced

Advanced

N/A

Developing

Developing

Advanced

Advanced

Advanced

Developing

Developing

Region Member CountryTrade

mil. USD (2012)

Nom. GDP mil. USD (2012)[28]

EconomicClassification

Economic Data of G20 Member Countriesالبيانات الإقت�سادية للدول الأع�ساء يف قمة جمموعة الع�سرين


3 Economy

قمم �لع�صرين منذ تاأ�صي�صها لغاية �ليوم، ف�صال عن موؤ�ص�صة

برينت وودز "Bretton Woods" و�لبنك �لدويل.

الإقت�ساد العاملي مل يتعافى بعد

�خلتامي �لقمة بيان غور �صرب ميكننا م تقد مما �إنطالقا

ت �ملجموعة �لذي مل يخلو من �لو�قع �ملذكور �أعاله، �إذ �أقر

ن لكن من �ل�صابق لأو�نه �إعالن �أن "�لإقت�صاد �لعاملي يتح�ص

�إنتهاء �لأزمة يف �لوقت �لذي تو�جه فيه �لإقت�صاد�ت �لنا�صئة

تقلبات متز�يدة " وهذه �لتقلبات تنعك�ص بطبيعة �حلال على

�أ�صابتها �لتي �ملجموعة، دول معظم يف �لعقارية �لأ�صو�ق

�لأزمة �ملالية يف �ل�صميم، ما �إنعك�ص على �إقت�صاد�ت �لدول

تها جلهة ركود �إقت�صادي و�أزمات وديون �صيادية، وبطالة برم

�ختلفت و�إن �لع�صرين جمموعة تدركه و�ق��ع هو مرتفعة،

�خلتامي بيانها ن ت�صم ولذلك �أخرى، �إىل دولة من تبعاته

�إعرت�فا من قبل زعماء �لدول �أنه يعود بالدرجة �لأوىل �إىل

كل دولة نا�صئة �أن ت�صبط �أو�صاعها.

ل اإتفاق حول �سوريا وحماولة لإيجاد

اأر�سية اإقت�سادية م�سرتكة

�أما فيما يتعلق بالأزمة �ل�صورية فلم جتد �ملجموعة قا�صما

�ملتناق�صة �لت�صريحات خالل من ذلك وظهر م�صرتكا،

لزعماء �لدول ل �صيما �لزعيمني �لرو�صي و�لأمريكي، �إل �أن

�أر�صية م�صرتكة �إيجاد �ملقابل �ىل �صعو� يف �لقادة هوؤلء

�لوليات قيام �إحتمال بها �صب �لتي �لإ�صطر�بات ح��ول

�ملتحدة بتقلي�ص برناجمها للتحفيز �لنقدي قريبا وهو ما

ويف �لعاملي. �لإقت�صاد يف �ل��دولر�ت تدفقات �ص �صيخف

على �ملجموعة �إتفقت �ملتز�يدة �ملالية �لتقلبات مو�جهة

على و�حل��ف��اظ �لنمو لدعم �ل�صرورية �لإج��ر�ء�ت �إت��خ��اذ

�ل�صدمات �أم��ام �ل�صمود زي��ادة ذلك وي�صمل �لإ�صتقر�ر،

�خلارجية وتعزيز �لأنظمة �ملالية، وتوفري �لوظائف. هذ� وقد

�أبدت دول �ملجموعة بع�ص �لتعاون يف ق�صايا �إقت�صادية عدة

ب �ل�صركات ب �ل�صريبي ل �صيما تهر مها م�صاألة �لتهر ويف مقد

�لبيان ن فت�صم �ل�صر�ئب، دف��ع من �جلن�صيات دة �ملتعد

�ملبادلت ب�صاأن مهمة وتعهد�ت زمنيا برناجما �خلتامي

-1

-0.5

0

0.5

1

1.5

2

2.5

2013 Q2 2013 Q1

: Growth rates presented in this chart are based on data with more than one decimal.Note

(kÉ«ª°Sƒe ád qnó©e äÉfÉ«ÑdG - π°üØd π°üa øe qnÒ¨àJ ájƒÄŸG áÑ°ùædG) øjô°û©dG áYƒª› á qnª≤d »∏°üØdG »∏ëŸG ‹ÉªLE’G œÉædG ºéM

óMGh …ô°ûY ¥ƒØJ äÉ«£©e ≈∏Y ÊÉ«ÑdG º°SôdG Gòg ‘ ƒªædG ä’ qnó©e óæà°ùJ :á¶MÓe

Quarterly GDP in volume terms for the G20 (Percentage change on the previous quarter, seasonally adjusted data)

�ل��رئ��ي��ص �ل��رو��ص��ي ف��الدمي��ري ب��وت��ني ورئ��ي��ص��ة �لأرج��ن��ت��ني

كري�صتينا فرنانديز دي كري�صرن

د�فيد كامريون �لعظمى �ملتحدة لربيطانيا �ململكة وزر�ء رئي�ص

ورئي�ص وزر�ء كند� �صتيفني هاربر

�لرئي�ص �لرو�صي فالدميري بوتني ووزير �ملال �ل�صعودي عبد

�لعزير �لع�صاف

�لرئي�ص �لأمريكي بار�ك �أوباما، �مل�صت�صارة �لأملانية �أجنيال

مريكيل و�لرئي�ص �لفرن�صي فر�ن�صو� هولند

اإقت�سادات عن عبارة الع�سرين جمموعة

بني ة الهو تعك�ض بينها، فيما متناحرة

واإقت�سادات املتقدمة الدول اإقت�سادات

الدول النا�سئة


2

له يف معظم �صابق ل رك��ود� يعاين عاملي �إقت�صاد وقع على

رو�صيا، يف رحالهم �لع�صرين جمموعة قادة حط �ت، �لقار

وعلى جدول �أعمالهم طغى �مللف �ل�صوري على �لرغم من �أن

بني جليا �لإنق�صام وظهر بحتة. �إقت�صادية �لقمة �أجندة

بل �ل�صيا�صي فح�صب �ملحور لي�ص على �لر�ئدة �لإقت�صاد�ت

�لع�صرين جمموعة �أن �إذ �أي�صا. �لإقت�صادي �ملحور على

ة بني عبارة عن �إقت�صاد�ت متناحرة فيما بينها، تعك�ص �لهو

مة و�إقت�صاد�ت �لدول �لنا�صئة، وهو �إقت�صاد�ت �لدول �ملتقد

جمموعة تاأ�صي�ص خلف كانت �لتي �لغاية �لأح��و�ل مبطلق

ة �لأزمات �لع�صرين عام 1999، ففي ذلك �لوقت وعلى خلفي

�ملالية �ملتتالية �لتي كانت تع�صف بالعامل، تنادى وزر�ء مالية

تعزيز بهدف و��صنطن، يف �إجتماع عقد �إىل �لكربى �لدول

�لإ�صتقر�ر �ملايل و�لنقدي ، و�إيجاد فر�ص حو�ر بني �لبلد�ن

يومنا هذ� يز�ل �ىل �لنا�صئة، وهو حو�ر ل وتلك �ل�صناعية

م بالأ�صو�ق �ملالية ل قات عديدة ، فاآليات �لتحك ي�صطدم مبعو

ز�لت بيد قطب �أحادي �جلانب يتمثل بالوليات �ملتحدة، وهو

وقد �لنا�صئة، �لدول م تقد �أمام كبري� عائقا ل ي�صك بات ما

�لربيك�ص دول بحث ب�صاط على بقوة �لق�صية هذه طرحت

جنوب �ل��رب�زي��ل، �لهند، �ل�صني، )رو�صيا، "BRICS"�لعاملي �لإقت�صاد يف م�صاهمتها ن�صبة باتت و�لتي �أفريقيا(

�لع�صرين �ملئة، يف حني متثل دول جمموعة 50 يف تبلغ نحو

)�أم��ريك��ا، رو��ص��ي��ا، �ل��ه��ن��د، �ل��رب�زي��ل، �ل��ص��ني، �ل��ي��اب��ان،

�أو�صرت�ليا، �ملك�صيك، كند�، �جلنوبية، كوريا �لأرجنتني،

�أندوني�صا، �أمل��ان��ي��ا، �إي��ط��ال��ي��ا، فرن�صا، بريطانيا، تركيا،

�لتجارة ثلثي �لأوروبي( و�لإحتاد �أفريقيا جنوب �ل�صعودية،

وبالتايل �لعاملي، �خل��ام �لناجت من �ملئة يف و90 �لعامل يف

جمموعة معادلة يف �أ�صا�صيا لعبا باتت �لربيك�ص ولكون

�لإعتبار بعني �لأخذ �لدول �صائر بد من ل �أ�صبح �لع�صرين

هذه �لقوة �ملتنامية و �مل�صاركة �أي�صا يف جمموعة �لع�صرين.

بد من ل �ملجموعة ل ت�صك �لتي �لأ�صا�ص �لدول و�إىل جانب

يف �لدويل �لنقد �صندوق له ميث �لذي �لقوي �حل�صور ذكر

قمة جمموعة الع�صريناإنق�صام �صيا�صي ...اإجماع اإقت�صادي

م�صاريع البنى التحتية وت�صجيع االإ�صتثمار اخلا�ض اأوىل

ثمار نتائج الع�صرين

�إجتماع �لعمل �لأول لروؤ�صاء �لدول و�حلكومات و�ملنظمات �لدولية �ملدعوة يف قمة جمموعة �لع�صرين

�ملتحدة �لوليات ورئي�ص بوتني فالدميري �لرو�صي �لرئي�ص

�لأمريكية بار�ك �أوباما

90%

GLOBAL ECONOMY GLOBAL TRADE

FOSSIL FUEL EMISSIONSWORLD POPULATION

80%

84%66%

»ŸÉ©dG OÉ°üàb’G

⁄É©dG ¿Éµ°S …QƒØMC’G OƒbƒdG äÉKÉ©ÑfG

á«ŸÉ©dG IQÉéàdG

G20 REPRESENTSøjô°û©dG áYƒª› áªb πqpã o“


1 Economy

Private, national and international investors are increasingly investing in Brazil. Several sectors are attracting

national and international investment, and after oil and gas, real estate is at the top of the list. A study conducted by Ernst & Young Terco indicates that the Brazilian real estate market had a record amount of foreign investment in the first half of 2012 (estimated between USD 2.5 and USD 4.3 billion). The main reason for this development is that the country will host the 2014 World Cup and the 2016 Olympics, and needs hotels, office buildings and infrastructural development. In addition, the growing middle classes, 54percent of the population, are in the market for new homes. Experts foresee an even better economy and a new urbanism in the coming years.

“Legal certainty and the adoption of sound macroeconomic fundamentals over the last few years have been reinforcing Brazil as a good destination for international investment”, says Ana Carmen Alvarenga,

managing director of Tishman Speyer in Rio de Janeiro city. The North American company, one of the leading owners, developers, and fund managers of real estate in the world, is currently strengthening activities in the country, reflecting Brazil’s growing status as one of the safest and most profitable locations in the world when it comes to real estate investment.

Incentives for private developersThe three spheres of government (federal, state, municipal) have created attractive incentives for private developers. The municipality of Rio de Janeiro city, for instance, has adopted exemption from transfer and property taxes for new developments. Relating to the hotel sector in particular, there is funding of R$ 2 billion (approximately USD 853.2 million), with special interest rates and terms, for developers building new units and/or renovating existing ones. This new financing line, ProCopa Turismo, is a result of a partnership between the Ministry of Tourism and Banco Nacional do Desenvolvimento Economico e Social (BNDES), the main financing agent for development in Brazil.

Regarding hotel units, in his interview with DORCHESTER Magazine, Gastao Vieira, the

Minister of Tourism, says: “We have approximately 25,000 new rooms being built in the host cities. There is no shortage of lodging facilities in the country, and there are no foreseen difficulties related to them for the World

Cup”. According to data from Associacao de Dirigentes das Empresas do Mercado Imobiliario/ Rio de Janeiro (ADEMI-RJ), an association of real estate companies in Rio de Janeiro city, in the first six months of 2013, 510 hotel units were launched in “The Marvelous city” (Rio’s nickname; in Portuguese “Cidade Maravilhosa”).

In addition to private investment, the Brazilian federal government launched a program called “Programa de Aceleracao do Crescimento” (PAC) in 2007. In the first phase (PAC 1), from 2007 to 2010, public investment approximately USD 280 billion was channeled into areas such as housing, sanitation, energy, and transportation. From 2011 to 2014 (PAC 2), the government will invest approximately USD 421.6 billion in public dwellings, infrastructure, and urbanism. It is important to highlight that the construction of public dwellings in Brazil is extremely urgent as the country has a reported housing shortage of eight million units.

Among the major cities attracting investments in real estate are Rio de Janeiro, host of the 2016 Olympics, Sao Paulo, Belo Horizonte, Natal, Salvador, Recife, Fortaleza, Cuiaba, Manaus, Curitiba, Porto Alegre, and the capital, Brasilia (the 12 cities that will host the 2014 World Cup). These real estate investments have been contributing to the

Brazilian Real Estate MarketRecord Foreign Investment

Knight Frank: “prices in Brazil rose 15.2 percent in the 12 months until the third quarter of 2012, the largest

increase globally”

Gastao Vieira

Aerial view of Sao Paulo, the most important city in Brazil

The Brazilian real estate market had a record amount of foreign investment in the first half of 2012 estimated between USD 2.5 and USD 4.3 billion


Investment 1

development of a new urbanism in these cities. “The World Cup and the Olympics are engines in this new urbanism”, says Vicente Giffoni, president of AsBEA-RJ, an association of architectural offices in Rio.

The new urbanism In Brazil, transportation, accessibility, and infrastructure problems, as well as housing shortages, have escalated over the years, despite the good economic climate. Last July, these problems and others (government corruption, poor quality public healthcare and education, high costs of governmental organization of the sports events) led millions of Brazilians to take to the streets in protest. Violent protests and reactions thereto made headlines in major newspapers all over the world. The current investment injection in the country has contributed to addressing and reducing such problems and to giving birth

to a new urbanism. This urbanism is still, unfortunately, restricted to the major Brazilian cities.

In this scenario of urban expansion, there will be new express traffic corridors and

streets, new commercial and residential buildings, malls, hotels, tunnels, leisure areas (sports stadiums, bike paths, parks etc.), and cultural spots (theatres, cinemas, libraries, cultural centres etc.) for the population. Many of these works have projects signed to foreign architects, among them Santiago Calatrava, Zaha Hadid, Foster + Partners, and Diller Scofidio + Renfro.

But why Brazil? The Belgian-Danish architect Julien De Smedt, who opened his Brazilian office in Belo Horizonte (capital of Minas Gerais state) in May 2011, says that it has a lot to do with 2014 World Cup and 2016 Olympic Games, but that is not the only reason for him. “The attitude of the Brazilian people really impresses me. They grasp life with happiness. So, of course, Brazil means great business opportunities, but also something very personal to me”, he says.

De Smedt cites Brazilian bureaucracy as a problematic issue. He advises foreign architects considering projects in the country: “Spend more time with the Brazilians to understand their culture — of leaving everything to the last minute, for instance — and find good local partners”.

The president of AsBEA-RJ sees no problem in having foreign architects working here. “Today we are on an equal footing”, he says. In his opinion, this transfer of talent is an effect of globalization and contributes to better quality architecture for both sides. “My practice develops projects in countries like Switzerland and the United Arab Emirates”, says Giffoni.

Brazilian architect Ignez Ferraz summarizes: “Together with the work of good Brazilian architects, foreign professionals will contribute to a better architecture and a new urbanism in the main cities of our country”.

Rio de Janeiro, the city with a futureIn Rio de Janeiro, no doubt the city that will benefit most from the World Cup and the Olympics, private companies, the government, architects, and other professionals have been investing money, time, and creativity in order to build this new urbanism. The 6.5 million people who live in Rio know that the city will change

Juscelino Kubitschek Bridge in Brasilia, capital of Brazil at sunset

The growing middle classes, 54 percent of the population, are in

the market for new homes

Vicente Giffoni

Porto Maravilha, one of the largest urban revitalization projects running in the world today

Brazil has the sixth largest economy in the world and further growth is

conceivable


2

radically in the coming years. In fact, this transformation process — in terms of mobility, urban infrastructure, landscaping etc. — has already begun.

“The World Cup and the Olympic Games have brought infrastructure, a new subway line, new office buildings, hotels etc. There is a new atmosphere in the city”, says Rubem Vasconcelos, president of Patrimovel, a prestigious real estate brokerage in Rio.

Joao Paulo Rio Tinto de Matos, president of ADEMI-RJ, agrees with Vasconcelos. “Rio de Janeiro is currently going through a major urban transformation. Last year 19,481 units were launched in the city. For 2013, we expect a growth of between 5 and 7 percent. This year five builders — Calcada, Calper, Even, Gafisa, and RJZ Cyrela — joined forces to launch a new planned neighbourhood, called Pontal Oceanico, in the West Zone. Five thousand units are expected to be launched. There will be a real revolution in the city in the coming years”, he says.

Vasconcelos reports that currently a square metre of a three-bedroom apartment in the well-heeled Leblon district, in the South Zone of Rio city, costs between USD 16,784 and USD

25,167. “While there is demand, prices will go up”, he comments. London-based property consultancy Knight Frank indicates that prices in Brazil rose 15.2 percent in the 12 months until the third quarter of 2012, the largest increase globally.

Among the major projects and programs related to this new urbanism in Rio city is the facelift and revitalizing of the Port Zone (5,000,000m²), which is expected to attract investments of billions of dollars — public and private. This revitalization project, currently being developed by Backheuser e Leonidio Arquitetura e Cidade (BLAC) practice, is called Porto Olimpico (or Porto Maravilha).

The project involves the construction of residential and office buildings, the designing of tunnels and new streets, the development of bike paths, the reconstruction of 700 km of public networks (water, sanitation, drainage, electricity, gas, and telecommunications), the launching of three new plants for sanitary treatment, and the planting of 15,000 trees, among other things.

Tishman Speyer currently has three projects under development and construction in the Port Zone of Rio. “Tishman is a pioneer in private investments in Porto Maravilha. This is one of the largest urban revitalization projects running in the world today. It is a great opportunity for the company to direct its investment to an area that will be the next business centre of the city”, says Ana Carmen Alvarenga.

According to her, Tishman believes that the harbour area will be consolidated within 3-5 years. The company will continue investing there for the coming years. “New multinationals will come. In the Port Corporate Tower project alone, Tishman will invest approximately USD 109 million, raised in the US through company funds exclusively for investments in Brazil. The building, with 18 floors of offices, totaling 35,767 square metres of rentable area, will be finished in the first semester of 2014”, Ana Carmen says.

In addition to Porto Olimpico, four express corridors for articulated buses (one of which is already completed), a new subway line (Line 4), and the Olympic and Paralympic Village in Barra da Tijuca (West Zone), the fastest-growing district in the city, will be built in Rio city. After the Games, the Village will become a private residential development.

Billions of dollars will be invested in Rio’s slums up until 2020. This ambitious program by the Brazilian government is called “Morar Carioca”. Its main objectives are to control the growth of the slums in Rio city, Favela in Rio de Janeiro city

Rubem Vasconcelos

Porto Olimpico - conceptual image

UNCTAD: “Brazil is the fifth most attractive country for foreign direct investment (FDI) for the period of

2012-2014”

The country has a reported housing shortage of eight million units

Billions of dollars will be invested in Rio’s slums up until 2020 by “Morar

Carioca” program


Investment 3

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Fundamental business principles are our priority

Values are our primary asset

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improve their infrastructure — sanitation, electricity, services etc., and to contribute to the economic and social development of those regions and to their integration with the rest of the city.

The following projects have already been concluded: the new Maracana stadium; “Bairro Carioca” program — 2,240 apartments (112 buildings) for people on the poverty line, flood victims, and people coming or removed from ‘risk areas’; “Parque Madureira” (third largest municipal recreation area); and the new Sambadrome, where the most famous Carnival parades in the world are held.

Bet on Brazil Brazil has been a safe investment destination since 2008, according to rating agencies, such as Standard & Poor’s. This status has been responsible for positive development in the country: according to the 2013 World Investment Report, published by the United Nations Conference on Trade and Development (UNCTAD), Brazil is the fifth most attractive country for foreign direct investment (FDI) for the period of 2012-2014, trailing only China, India, the United States, and Russia. Undoubtedly, a great part of this investment has been going and will continue to go in to the Brazilian real estate market.

This is a unique moment for Brazil, mostly stimulated by the World Cup and the Olympic Games. Brazil has the sixth largest economy in the world and further growth is conceivable. Brazil could be amongst the economic leaders of the future, along with Russia, India, and China (BRICs). It is faced with the grand and fundamental challenge of constructing a better country over the coming years; a country with an improved

economy, urbanized cities, better education and healthcare, less corruption, an increase of income for Brazilians, and greater growth prospects. Brazilians are well aware that real estate investment — public and private money, coming from Brazil and from abroad — can go a long way in making this challenge a reality.

• By Andréa Magalhães - Brazil

و�صركات �أف��ر�د من �مل�صتثمرين قبلة �إىل �لرب�زيل لت حتو

من �لعديد يف �لإ�صتثمار ن�صبة و�إرتفعت وعاملية، حملية

ه��وؤلء �صهية ��ز ت��رتك و�لنفط، �ل��غ��از بعد فمن �لقطاعات،

وقد �ل��ع��ق��اري، �لقط��اع يف �لإ�صتثم��ار يف �مل�صتثم��رين

تريكو يونغ �ن��د �رني�صت �صركة �أجرتها در��ص��ة �أظه��رت

"Ernst & Young Terco" �أن �صوق �لعقار�ت �لرب�زيلية خالل يف �خلارجية �لإ�صتثمار�ت يف قيا�صيا رقما لت �صج

رت هذه �لإ�صتثمار�ت �لن�صف �لأول من �لعام 2012 ) �إذ قد

ما بني 2.5 و 4.3 مليار دولر �أمريكي(. و�أ�صار تقرير �صدر

عن "Knight Frank" وهي �صركة عاملية ر�ئدة، متخ�ص�صة

�أ�صعار �لعقار�ت يف �لرب�زيل �أن بالإ�صت�صار�ت �لعقارية، �إىل

�إرتفعت 15.2يف �ملئة خالل �لإثني ع�صر �صهر� حتى �لف�صل

�لثالث من �لعام 2012 و�صكلت �لزيادة �لأعلى عامليا. ويعود

كاأ�ص بطولة �صت�صت�صيف �لرب�زيل �أن �ىل ذلك يف �ل�صبب

2014 و�لألعاب �لأوملبية يف �لعام �لعامل يف كرة �لقدم للعام

مثل خدماتية م��ر�ف��ق �ىل �ل��ب��الد حتتاج وبالتايل ،2016

بناها تطوير �ىل حاجتها عن ف�صال و�ملكاتب، �لفنادق

�لطبقة �أن يتمثل يف �آخر �لتحتية، وي�صاف �ىل ذلك عامل

�ل�صكان، تبحث �ملئة من 54 يف ل حو�يل ت�صك �لتي �ملتو�صطة

�ليوم عن منازل جديدة، و�إز�ء هذه �ملعطيات يتوقع �خلرب�ء

مدنيا جديد� يف �إقت�صاد� مزدهر� وكذلك تنظيما للرب�زيل

خالل �ل�صنو�ت �ملقبلة.

�أط��ل��ق��ت �حل��ك��وم��ة �لإ��ص��ت��ث��م��ار�ت �خل��ا��ص��ة و�إىل ج��ان��ب

ت�صريع "برنامج يدعى برناجما �لرب�زيلية �لفيدير�لية

“Programa de Aceleracao do Crescimento” "لإمناء�

�لعامة، بالإ�صتثمار�ت خا�ص وه��و ،2007 �لعام يف وذل��ك

ن �لربنامج مرحلتني، يف �ملرحلة �لأوىل ) من 2007 �ىل ت�صم

280 مليار دولر �أمريكي، 2010( بلغت �لإ�صتثمار�ت حو�يل

�ل�صحي �ل�صرف �لطاقة، �لإ�صكان، قطاعات يف �إندرجت

�ىل 2011 )م��ن �لثانية �ملرحلة ويف وغ��ريه��ا...، و�لنقل

2014( �صوف ت�صتثمر �حلكومة ما يقارب 421.6 مليار دولر

لبناء م�صاكن �صعبية وبنى حتتية، �إ�صافة �إىل �لتنظيم �ملدين.

وهنا ل بد من �أن ن�صلط �ل�صوء على �أن بناء م�صاكن �صعبية يف

�إىل تفتقر �لبالد �أن مبا و�أ�صا�صي للغاية ملح �أمر �لرب�زيل

ل 8 ماليني وحدة �صكنية. م�صاكن مبعد

كما وت�صهد مدينة ريو "Rio" بناء وحد�ت �صكنية وخدماتية

وفتح �أنفاق و�صق طرقات جديدة، حيث �صت�صتفيد �ملدينة من

جنز ممر منها( وكذلك 4 ممر�ت �صريعة للبا�صات ) وقد �أ

خط جديد للمرتو "Metro" )�خلط �لر�بع( و�ملدن �لأوملبية

"Olympic" و�لبار�ملبية "Paralympic" يف بار�د� تيجوكا �ىل �إ�صافة �لغربية(، )�ملنطقة " Barra da Tijuca "و�صرف )مياه �لعامة �ل�صبكات من كلم 700 بناء �إع��ادة

��ص��ح��ي وت��ص��ري��ف وك��ه��رب��اء وغ��از و��ص��ب��ك��ات �إت��ص��الت

وغريها...( كل ذلك يف منطقة �ملرفاأ )5 ماليني مرت مربع(،

وتطوير ترميم �إع��ادة م�صروع خ��الل من "Port Zone"مار�فيال بورتو �أو "Porto Olimpico" �أوملبيكو بورتو

."Porto Maravilha"

و�لالفت، �إىل �أن مليار�ت �لدولر�ت �صوف ت�صتثمر يف �لأحياء

خالل من وذل��ك 2020 �لعام حتى "Rio"ريو يف �لفقرية

ع من برنامج مور�ر كاريوكا "Morar Carioca" �لذي و�ص

تطوير على �لعمل �إىل وي��ه��دف �لرب�زيلية �حلكومة قبل

�لتحتية بنيتها وحت�صني �مل��دي��ن��ة، يف �ل��ف��ق��رية �لأح��ي��اء

، وغريها....( و�خلدمات و�لكهرباء �ل�صحي )�ل�صرف

و�لإجتماعية �لإقت�صادية �لتنمية يف �مل�صاهمة �إىل �إ�صافة

لهذه �ملناطق، وذلك لتتما�صى مع بقية �ملدينة.

�لعامل يف �إقت�صاديا دول��ة �أع��ظ��م �صاد�ص �ل��رب�زي��ل ت��ع��د

�ل��رو�د بني من وت�صبح �أعلى مر�تب حتتل �أن وباإمكانها

�لإقت�صاديني يف �مل�صتقبل، متاما مثل رو�صيا و�لهند و�ل�صني.

�أما �لتحدي �لأكرب فيتمثل باإعمار �لبالد وفق �أ�ص�ص ومعايري

�ملدن �حلديثة، ف�صال عن حت�صني ظروف �لتعليم و�ل�صحة،

�لنمو على ينعك�ص ما �لرب�زيليني �ملو�طنني عائد�ت وزيادة

على ذل��ك يف �لرب�زيليون ل وي��ع��و �ل��رب�زي��ل��ي، �لإقت�صادي

�لإ�صتثمار�ت �لعقارية �ملحلية و�لأجنبية.

ل رقما قيا�صيا �صوق العقارات الربازيلية ت�صج

للإ�صتثمارات اخلارجية

The country will host the 2014 World Cup and the 2016 Olympics, needs hotels, office buildings and

infrastructural development

We have a responsibility to manage our customers’ wealth, which we are entrusted with, in accordance with God's call for faithful stewardship. In this pursuit, it is our well ingrained values, our long

individuals, that allow us to excel in our business.

Fundamental business principles are our priority

Values are our primary asset

ecnessE ruO ... seulaV ruOwww.alawwalcapital.com 920017180

ALAWWAL CAPITAL Co. (Saudi Joint Stock Company)CMA License No. 08095-36

Investment y


4

م�سرفية قانونية ت�سريعات املطلوب

جديدة

و�أخرى غري �إيجابية ر�صمية نظرة وبني م، تقد �إنطالقا مما

ر�صمية حذرة، فاإن معاناة �لقطاع �مل�صريف �لعر�قي تعود �إىل

رفع يف ت�صاهم �لتي �مل�صتحدثة �لقانونية �لت�صريعات غياب

�مل�صارف وت�صجيع �خلارجي، �ملال ر�أ�ص ق تدف �أمام �لقيود

�أجو�ء وخلق ين�صجم مبا �لعر�ق يف لها فروعا لفتح �لعاملية

نقل من و�لإف��ادة و�لأجنبية �ملحلية �لبنوك بني تناف�صية

�خلرب�ت و�لتطور�ت يف �ملجال �مل�صريف. ل �صيما و�أن �لكثري

و�لكورية" و�لربيطانية �لأمريكية " �لعاملية �مل�صارف من

ت عن رغبتها للدخول يف ميد�ن �لعمل �مل�صريف �لعر�قي عرب

�لأر�صية رت توف حال يف �مل�صرفية �لتعامالت يف و�مل�صاركة

�خل�صبة لإ�صتثمار خدماتها �ملالية.

ة ومما ل �صك فيه، �أن �لبيئة �مل�صرفية، �لعر�قية بحاجة ما�ص

�لتنمية يف للم�صاهمة معروفة عاملية م�صارف دخ��ول �إىل

�لإقت�صادية من خالل متويلها للم�صاريع �لإ�صتثمارية، ف�صال

�مل�صريف. �ملجال يف �حلديثة و�لتقنيات �خلرب�ت ك�صب عن

لرفع مر�حل ث��الث من خطة و�صع �ل��ذي �ملركزي فالبنك

من �إبتد�ء دولر �أمريكي مليون 213 �إىل �لبنوك ر�أ�صمال

تبعا �ل��ي��وم، مطالبا �لإق��ر��ص، لتحفيز �ملا�صي ح��زي��ر�ن

للخرب�ء، بو�صع �آليات و�صروط تلزم �مل�صارف �ملحلية بتحديث

�آلية عملها وفق �لتقنيات �حلديثة و�لتطور�ت �لتكنولوجية ل

�لقطاع �إ��ص��الح مب�صروع �ل��دويل �لبنك �إ��ص��ادة م��ع �صيما

�صركة �أ�صدرته �لذي �لتقرير �لعر�ق من خالل �مل�صريف يف

�إ�صالح �لنهائية مل�صروع �ملالية �لبيانات �لدولية عن �لتدقيق

�ل��ق��ط��اع �مل��ص��ريف يف �ل��ع��ر�ق و�ل��ذي ج��اء خ��ال��ي��ا م��ن �أي��ة

بة �لتي تبذلها مالحظات �أو حتفظات، ما يعك�ص �جلهود �لطي

�إد�رة �لبنك �ملركزي �لعر�قي بهذ� �ملجال.

بغداد يودة/ • علي

As the political climate in Iraq begins to normalize, it is time for the banking sector to bring itself up to date. Economic isolation was a major factor in the poor performance of the Iraqi financial sector over the last twenty plus years. This isolation contributed to a lack of social and economic development, which some say led to increasing inflation rates. Rates rose rapidly in the early nineties, by an astonishing 2000% between 1991 and 1992. Unemployment rose in the same period by 50%.

With Iraq’s return to the international banking arena, several questions have emerged in relation to the role of its banks and their ability to perform those roles. Huge strides have been made in the industry at a global level since Iraq last played any kind of role, and experts wonder how the country will bridge the gaps in knowledge and technology.

Optimism is at an all-time high, however, and in an exclusive interview with DORCHESTER Magazine, Iraqi Prime Minister Nuri Al-Maliki confirmed that Iraq was looking forward to working in partnership with international banks in order to bring the national Iraqi banking system up to date. Cooperating with other banks will ensure that Iraq is an active partner in its economic, financial and banking development to promote general fiscal and social progress.

Al-Maliki says “the banking sector in Iraq could not move, work and produce without the guidance from local and external partners sought out by the Iraqi free market. We must work in accordance with the principle of competition to align with economic theory. Iraq seeks to move away from solid central socialist theory that ruled its economy for decades to the open-market system”. He points out that "Iraq is determined to move towards cooperation. We want to take advantage of all the global banking expertise we are being offered. We want to expand horizons for bilateral relations with all banks, to provide local networks and infrastructure, to benefit from the expertise and experience of these

banks to enable Iraq to establish a strong national base for the banking sector”.

Al-Maliki did not deny that due to the current limitations on the Iraqi banking system, meeting the goals and financial and commercial needs of Iraq would be a challenge. Iraq basically has to start from scratch due to its fundamental lack of experience in current banking practice. Finding a meaningful role on a world stage crowded by banking empires, which currently control the international financial world, will not be easy. However, the Prime Minister seemed optimistic about Iraq’s capabilities and hopeful about building a banking system based on solid foundations. He is dedicated to overseeing the careful development of the banking institutions and ensuring compatibility with international banking standards and systems to guarantee the utmost effectiveness. One lesson already learned is that a banking system which is not integrated and up-to-date is no good to anyone. Dealing with big business and international companies is standard in Iraq but its banks must be able to offer them the latest in banking services in order to keep them as clients.

Experts and banking officials interviewed by the DORCHESTER Magazine agreed on the ability of the Iraqi banking sector to rebuild itself, emphasizing that there is a large role to be played by major global banks in assisting Iraqi efforts. Other experts expressed fears of Iran's role in Iraqi banking and a number of businessmen complained of loan guarantees and the financing of useless government projects. Experts underlined the need for flexibility on mortgage loans where banks are still demanding real guarantees for granting loans. This kind of conservative banking behavior adversely affects the Arabic real estate market, in a country which needs to build 5 million residential units over the next five years. All sides were in agreement on the necessity of creating new legislation to protect the Iraqi banking sector and to contribute to its progress, with the common goal of bringing Iraqi banking in to line with global standards.

After lifting the provisions of Chapter VIIThe banking sector in Iraq is making a turnaround

�سكنية وحدة ماليني 5 اإىل يحتاج العراق

خالل ال�سنوات اخلم�ض املقبلة


4

�لإ�صكان �صندوق تفعيل �إع��ادة 2011 ع��ام ج��رى وق��د ه��ذ�

ر حجمه ب� �ألف مليار دينار عر�قي )�أي �لعر�قي بر�أ�صمال قد

�لإ�صكان م�صاريع متويل بهدف دولر(، مليون 847 ح��و�يل

لهم م�صاكن بناء من كرد�صتان �إقليم عد� �لعر�قيني لتمكني

و�إقر��ص فو�ئد، �لعقارية. من دون �لقرو�ص عن طريق منح

دة حمد و�آليات �صمانات وفق �لعر�ق يف �ملجازة �مل�صارف

�ل�صركات �أو م�صاكن لبناء �ملو�طنني �إقر��ص من لتمكينها

تفعيل كما جرى �لأج��ل، قر�صا طويل �صكنية عات لبناء جمم

ي�صل بر�أ�صمال �ليوم يعمل وهو �لعر�قي �لعقاري �مل�صرف

دولر مليون 85 ح��و�يل )�أي عر�قي دينار مليار 100 �ىل

دينار مليار 400 �ىل ر�أ�صماله زيادة �ملحتمل ومن �أمريكي(

عقد �أمريكي( مبوجب دولر مليون 340 )�أي حو�يل عر�قي

بع�ص م تقد فيما و�لر�صيد، �لر�فدين م�صريف مع �إرتباطي

�لبنوك قرو�صا خا�صة بال�صكن �صمن بر�مج و�صروط خا�صة،

دة حم��د ب��ر�م��ج �صة �ملتخ�ص �مل��وؤ��ص��ص��ات ب��ع��ص وت��ط��رح

بالإ�صتخد�م �ل�صكني.

باإنتظار متويل 5 ماليني وحدة �سكنية

عقاري خالل ال�سنوات اخلم�ض املقبلة

وعلى �لرغم من كون �ل�صوق �لعقارية من �لأ�صو�ق �لو�عدة يف

�أن �لو�قع �لعقاري فيه ي�صطدم بعقبة جوهرية �لعر�ق ، بيد

تتعلق بالت�صريع �لقانوين يف جمال �لإ�صتثمار �لعقاري �لذي ما

د �خلبري �لإقت�صادي ز�ل �صعيف �حلركة، ويف هذ� �لإطار �أك

�إت��خ��اذ "�صرورة �خل��ف��اج��ي عطية ليث �ل��ع��ق��اري و�مل��ق��اول

�ملحلية �ل�صوق لتح�صني �لالزمة �لتد�بري �لعر�قية �حلكومة

ة �صاع �لهو ر� من �أزمة عقارية خطرة �صببها �إت �لعر�قية، حمذ

بني حجم �لطلب و �لعر�ص للوحد�ت �ل�صكنية، علما �أن �لعر�ق

�لر�صمية �لإح�صائيات بح�صب ر يقد دميوغر�فيا منو� ي�صهد

و 700 بني �لإمنائي و�لتعاون �لتخطيط وز�رة من �ل�صادرة

850 �ألف ن�صمة". وهو ما بات ي�صتدعي بر�أي �خلفاجي حلول

وحدة ماليني 5 عن تزيد عقارية وح��د�ت لتوفري حقيقية

�صكنية خالل �ل�صنو�ت �خلم�ص �ملقبلة ومنها �لعمل على تلبية

يف �لعجز و�صد �لعقارية �لوحد�ت من �ملتنامية �لإحتياجات

�لعام �لقطاعني ب��ني م�صرتكة ل��روؤي��ة وف��ق��ا �لطلب لت م��ع��د

و�خلا�ص، ف�صال عن دعم �لإ�صتثمار �لأجنبي ب�صكل يكفل رفد

رين و�ملطو �خل��رب�ء لكبار �أ�صيلة بخرب�ت �لعقارية �ل�صوق

على و�لق�صاء مة �ملنظ و�للو�ئح �لت�صريعات وو�صع �لعقاريني،

كدول �لدول بع�ص جتارب تعميم �إىل و�ل�صعي �لبريوقر�طية،

�ملايل �لتمويل وفرت �لتي �إقليم كرد�صتان �أو �أو م�صر �خلليج

�لعقارية ن�صاطاتها لتو�صيع �لعقاري �لتطوير ل�صركات �لالزم

�إحتياجات لتلبية �لكافية �لتمويلية �حللول وتوفري جهة، من

و�أ�صاف �أخ��رى. جهة من �ل�صكنية �ل��وح��د�ت لتملك �لأف��ر�د

�خلفاجي �أنه "يف �لإطار �لتمويلي ياأتي دور �مل�صارف �لعاملة يف

من جملة حتديدها خالل من وذلك �لعقاري �لتمويل جمال

�مل�صرفية �لت�صهيالت بتقدمي لل�صروع و�ل�صروط �ل�صو�بط

حدود وفق �لقرو�ص تلك متنح �أن ذلك على ومثال �لعقارية

�لأقل من �ل�صكنية، و�لتي تبد�أ على �مل�صاحة �خلا�صة بالوحدة

�ملوقع عن ف�صال ف��وق، وم��ا مربع مرت 100 �أو مربع مرت 75

�لقر�ص من ل �أن يرت�وح معد �ل�صكنية، على للوحدة �جلغر�يف

ما )�أي عر�قي دينار مليون 30 �إىل عر�قي دينار مليون 20

يرت�وح بني 18000 و 24000 �لف دولر �أمريكي(.

قلق من ال�سمانات العقارية للقرو�ض

وعلى �لرغم من �ل�صيولة �ملرتفعة لدى �مل�صارف �إل �أنها كانت

عينية، ب�صمانات �لقرو�ص منح �أ�صا�ص على تعمل ت��ز�ل وما

وهذ� ما �أدى �ىل �إ�صتبعاد 85يف �ملئة من �ل�صكان من �لإقرت��ص

ل �ملو�طنون �مل�صارف �ملوؤ�ص�صات �ملالية �لر�صمية، وقد حم من

�لعالية �لفو�ئد ب�صبب وذلك �لعقار�ت �أ�صعار �إرتفاع م�صوؤولية

�لعقارية من جهة و�ل�صمانات �لعقاري من جهة �لقر�ص على

�مل�صريف يف منح �لقطاع ت تزم �أن �ملر�قبون و�إعترب ، �أخرى

�لقرو�ص و��ص��ول �صعوبة �إىل �أدى وم��رون��ة بي�صر �ل��ق��رو��ص

عدم ب�صبب �لأعمال ورجال �مل�صتثمرين �صغار �إىل �مل�صرفية

رغبة �مل�صارف باملخاطرة بقرو�ص طويلة �لأجل مع قدر حمدود

�لنقدية قات �لتدف ب�صمانات �أو �لعقارية، �ل�صمانات م��ن

للم�صروع ب�صكل �أ�صا�صي، ولهذ� �ل�صبب عجز �صغار �مل�صتثمرين

من �لإف��ادة يف �خل��ا��ص �لقطاع يف �ل�صاحقة �لأغلبية وه��م

�لقطاع �مل�صريف لعدم قدرتهم على توفري �ل�صمانات �لعقارية.

ف من راأ�ض املال الإيراين! تخو

بل �أع��اله، ذك��ر ما عند ف تتوق مل بالقطاع �ملعنيني �صكاوى

�لبالد يف عام ب�صكل �لأجنبي �ملال ر�أ��ص تو�جد �إىل ت �إمتد

�خلبري ��د �أك �ل��ص��دد ه��ذ� ويف خ��ا��ص، ب�صكل و�لإي��ر�ين

ل�� ل��ف��ا��ص��ل��ي �ل��ق��ادر ي��ا��ص��ني ع��ب��د �لإق��ت��ص��ادي د.

�أ�صبح �لعر�قي �مل�صريف �لقطاع "�أن DORCHESTER�مل��ال ل��ر�أ��ص �ملك�صوف ��ل �ل��ت��دخ بفعل �لإن��ه��ي��ار و��ص��ك على

"من �ملالية وموؤ�ص�صاتها �لعر�قية �لدولة ر وح��ذ �لإير�ين".

اع رقعة معاناة �مل�صارف �لعر�قية �إز�ء مناف�صة �مل�صارف �إت�ص

لعالقة �لتاأ�صي�ص حت��اول �لأخ��رية و�أن خ�صو�صا �لإير�نية،

�لعر�قية �لأم��و�ل روؤو��ص �إختالط ل ي�صه مبا معها �إندماجية

وق��ال �أثرها". وتتبع مر�قبتها عملية وتعقيد ب��الإي��ر�ن��ي��ة

و�صبه )ملي مثل �لإي��ر�ن��ي��ة �مل�صارف ك��ربى "�إن �لفا�صلي

و�لنجف بغد�د يف لها �لفروع ع�صر�ت �إفتتحت و�صادر�ت(

و�لب�صرة وكربالء، ف�صال عن �إقليم كرد�صتان �لتي تنتع�ص فيه

حركة �لعمل �مل�صريف �لإير�ين بف�صل �لت�صهيالت �ملمنوحة من

تقدمي �إىل تعمد �مل��ص��ارف ه��ذه �إن ": و�أ��ص��اف �لإقليم"

لإيد�ع �لعر�قيني �لأعمال للقطاع �خلا�ص ورجال �لإغ��ر�ء�ت

�أمو�لهم يف فروعها وذلك من خالل منحهم �صمانات كبرية

و�ملتعاملني �مل�صتثمرين ح�صابات عن �لك�صف عدم �أبرزها

�لفا�صلي ولفت ،" �لإي��ر�ين �مل�صريف �لقطاع مع �لعر�قيني

�إىل " �أن �ملوؤ�ص�صات �ملالية �لإير�نية تدفع �مل�صارف �حلكومية

�صيا�صة خالل من و�لتجاري �ملايل �لإندماج باإجتاه �لعر�قية

�ل�صاحة ع��ل��ى ح��ص��ور� �لإي��ر�ين ل��ل��ج��ان��ب تكفل ت��ب��ادل��ي��ة

ل لطهر�ن �حل�صول على �لعملة �لإقت�صادية �لعر�قية، ما ي�صه

على �ملفرو�ص و�لأم��ريك��ي �ل��دويل �حلظر ظ��ل يف �ل�صعبة

�صحبت �لفا�صلي" وق��ال �لإير�نية". �مل�صارف مع �لتعامل

طهر�ن �أكرث من ن�صف �أر�صدتها من �أوروبا و�أمريكا �ل�صمالية

خرى يف دول و�لالتينية، بالإ�صافة لتجميد ومقاطعة �أر�صدة �أ

وبالتايل و�أفريقيا، ولبنان و�خلليج وماليزيا و�لهند �ل�صني

للعمل، مفتوحة �صاحة �لعر�ق يف �لإير�نية �مل�صارف وجدت

ما �ل��ع��ر�ق، د�خ��ل معها للمتعاملني كبرية �إغ��ر�ء�ت مانحة

�لبنوك" هذه مع �ملتعاملني �لعر�قيني �أم��و�ل ب�صياع ت�صبب

�جلهاز �أد�ء يف د متعم "�صعف �أن��ه ق��ال ما �ىل ذل��ك وع��ز�

ممار�صة �لإي��ر�ن��ي��ة للبنوك ل �صه �ل��ذي �لعر�قي، �مل�صريف

�لأن�صطة غري �لقانونية ".

الأمريكية " العاملية امل�سارف من الكثري

رغبتها عن ت والكورية" عب والبيطانية

للدخول يف ميدان العمل امل�سريف العراقي

حوايل م�سرف لتاأ�سي�ض الأدنى احلد يبلغ

85 مليون دولر اأمريكي


3y Banking industry

�لف�صل هذ� �أحكام وفق �صوؤونه يف دولية الت تدخ �إحتمال

للر�غبني و�إن��دف��اع��ا عالية ثقة يعطي ل ذ�ت��ه بحد وه��ذ�

�لف�صل. �أحكام هذ� يز�ل حتت ل بلد كونه بالتعامل معه

و�أ�صاف �ملالكي �أنه ومع رفع �أحكام �لف�صل �ل�صابع و�مل�صاهمة

�لأم��ن وجمل�ص �ملتحدة و�لأمم �ل��دويل للمجتمع �لكبرية

و�لدول �لتي وقفت �إىل جانب �لعر�ق يف �إنهاء هذ� �لف�صل،

فاإن �لبالد باتت حتث �خلطى باإجتاه تفعيل ميادين �لإعمار

�لقطاع ومنها �مل��وج��ود�ت ع��رب �ل��رثوة وزي��ادة و�ل��ت��ج��ارة

�مل�صريف نظر� لدوره �لفاعل يف بناء �لإقت�صاد �لعر�قي.

د العام .. وفر�ض التمد القطاع امل�سريف

يف املنطقة

وم��ع رف��ع �أح��ك��ام

�ل��ف��ص��ل �ل��ص��اب��ع، مل

ي��دخ��ر �ل��ق��ط��اع

�ل��ع��ر�ق �مل��ص��ريف يف

من للتخل�ص ج��ه��د�

�لبريوقر�طية �لإد�رية

بح�صب حمافظ �لبنك

�مل��رك��زي �ل��ع��ر�ق��ي

�لبا�صط عبد بالوكالة

تركي �لذي �أ�صار �ىل

ل من نظام �صمويل " �إنعا�ص �لإقت�صاد �لعر�قي �لذي حتو �أن

�إىل �إقت�صاد �ل�صوق �حلر يتطلب توفري �أد�تني ل�صناعة قاعدة

�إقت�صادية ومالية متينة هما ن�صاط م�صريف كفء و�صوق حيوية

جمال يف �لعر�قي �مل�صتقبل "�أن مو�صحا �ملالية". ل��الأور�ق

من لكثري �إ�صتقطاب نقطة و�صيكون و�ع��د �مل�صريف �لعمل

�ل�صهور " �أن تركي وك�صف لالإ�صتثمار"، �لعاملية �مل�صارف

�ملا�صية �صهدت تو�فد عدد كبري من ممثلي �مل�صارف �لقليلة

د� �لعاملية �لكربى للبدء مبمار�صة ن�صاطاتهم يف �لعر�ق". موؤك

يف يرغب ملن مفتوحة �مل�صرفية وموؤ�ص�صاته �لعر�ق "�أن �مل�صاهمة �لإ�صتثمارية على �مل�صتوى �مل�صريف �أو �ملايل".

يف د بالتمد بد�أت �لتي �حلكومية �مل�صارف على �لأمثلة ومن

ربط �ل��ذي (TBI) للتجارة �لعر�قي �مل�صرف ياأتي �ملنطقة

�إ�صد�ر خ��الل من �لعاملية �مل�صارف بحركة �أعماله بو�صلة

مع �صر�كات وعقد �لتحتية �لبنية م�صاريع متويل �صند�ت

�لعر�ق، د�خل �خلا�ص �لقطاع وم�صارف �لعاملية �مل�صارف

مع لقاء �مل�صرف حمدية �جلاف يف دته مديرة �أك ما بح�صب

DORCHESTER ولفتت �جلاف "�إىل حتول �مل�صرف من ب� متكاملة موؤ�ص�صة �إىل �ملركزي بالبنك ملحق �صغري مكتب

)16( فرعا منت�صرة يف بغد�د و�ملحافظات �لأخرى، ف�صال عن

من و��صعة �صبكة مع م�صرفية عالقات ملنظومة �لتاأ�صي�ص

�مل�صارف �لعاملية ل �صيما �مل�صارف ذ�ت �ل�صمعة �ملمتازة حيث

و�صل عدد �مل�صارف �ملر��صلة �إىل �أكرث من )330( م�صرفا ما

ر له فر�صة حقيقية للتو�جد عامليا كما �أنه �إفتتح موؤخر� فرعا وف

له يف �لعا�صمة �للبنانية بريوت "، و�أ�صارت �ىل "�أن �مل�صرف

خالل من �خلا�ص �لقطاع دعم على عمل للتجارة �لعر�قي

�لقرو�ص ومنح �لتجاري كالتحويل تنظيمية �إج��ر�ء�ت �صل�صلة

وقطاعات �لكهربائية �لطاقة م�صاريع ومنها �مل�صاريع ومتويل

ف�صال �جلوي �لنقل ومتويل �لإ�صكان وم�صاريع و�لغاز �لنفط

عن �إ�صتري�د �لب�صائع و�خلدمات للعر�ق".

ر تقد �لذي للتجارة �لعر�قي �مل�صرف �أن �إىل �لإ�صارة جتدر

�مل�صارف بني ينفرد دولر مليار ب� �ملالية تعامالته حجم

�ملركزية �لعر�قية بكونه �لع�صو �لرئي�ص يف �صركتي �لفيز� كارد

�لعامليتني (Master Card) كارد و�ملا�صرت (Visa Card)و�لتي من خاللهما دخلت بع�ص �مل�صارف �حلكومية يف عامل

�ملدفوعات �لإلكرتونية، ف�صال عن ح�صوله على �صهادة �أف�صل

على �أي�صا وح�صوله �لأو��ص��ط، �ل�صرق يف جت��اري م�صرف

�ملرتبة �لثالثة عامليا يف �لنفط و�لطاقة.

متويل من اخلا�ض القطاع �ض توج

م�سروعات غري جمدية

�لنظرة �لتفاوؤلية �لر�صمية يقابلها مالحظات بديهية من قبل

�لأعو�م ع خالل �ملتوق فالإ�صتثمار �مل�صارف، لعمل �ملر�قبني

�ملقبلة يحتاج �إىل ت�صهيالت خمتلفة على �صكل �إئتمان وقرو�ص

ير�قب ومن تقدميها، من �مل�صارف ن تتمك �إعتماد�ت وفتح

�أن يجد �ملا�صية �ل�صنو�ت يف �لعر�قية �مل�صارف عمل منط

هنالك تر�جعا على طلب �لإئتمان �مل�صريف �خلا�ص يف �ل�صوق

ما �مل�صارف، ل��دى �لفائدة �أ�صعار �إرت��ف��اع ب�صبب �لعر�قية

�إنعك�ص �صلبا على جممل �لن�صاط �لإ�صتثماري مبا فيها �لقرو�ص

د م للمو�طنني. وقد �أك �ل�صغرية ذ�ت �لفو�ئد �لعالية �لتي تقد

ل��الأور�ق �لعر�ق �صوق يف م�صتقلون ومر�قبون �أعمال رج��ال

"�أن حالة �لإنغالق و�لإنح�صار DORCHESTER ل� �ملالية

�ل�صابق، �لنظام �صقوط بعد �مل�صريف �لقطاع حا�صرت �لتي

عت �حلكومات �ملتعاقبة على �إ�صتغالل هذ� �لقطاع لتمويل �صج

�إنعكا�صاتها بدت وق��د �ملجدية، غري �حلكومية �مل�صروعات

لت �لديون �خلارجية �لتي بات �ل�صلبية و��صحة يف �إرتفاع معد

و�أ�صار �مل�صتقبلية"، وتد�عياتها �أثارها �إحتمال �ل�صعب من

�أدى ب�صبب �حلروب بالأمان �ل�صعور "�أن عدم �إىل �ملر�قبون

م �ل�صيولة لدى �ىل منو كبري يف �لإيد�عات �مل�صرفية وت�صخ

�جلهاز �مل�صريف من ح�صابات �لإيد�ع �جلديدة".

للم�ســــــاريع امل�ســــــــــريف التــمـــــويـل

والإ�ستثمارات العقارية

ونظر� حلاجة �ملو�طن �لعر�قي - �صو�ء كان حمدود �أو متو�صط

�صيغ تطوير على �لعمل ب��د�أ �لعقارية للقرو�ص – �لدخل

�لتمويلي "�لإيجار �صيغة ومنها �لعقاري، للتمويل تعاقدية

حتت �ملباين بيع "عقد و �ملباين" "�إ�صت�صناع و �لعقاري"

�لإن�صاء"، و�أي�صا "�إتفاق �لتمويل �لعقاري." �أما �ل�صيغة �لأبرز

فهي "�لبيع �ملبا�صر بالتق�صيط" وتعد هذه �ل�صيغة �لأف�صل يف

نظر غالبية �لعر�قيني باإعتبارها تعتمد على مزيج من �لطرق

خر�ت جزء� منها. �لتمويلية وغالبا ما تكون �ملد

رئي�ص جمل�ص �لوزر�ء �لعر�قي نوري �ملالكي

مديرة �مل�صرف �لعر�قي للتجارة حمدية �جلاف

حمافظ �لبنك �ملركزي �لعر�قي بالوكالة

�لدكتور عبد �لبا�صط تركي �صعيد

القطاع امل�سريف يف العراق كان ول زال يعمل

عينية ب�سمانات القرو�ض منح اأ�سا�ض على

من املئة يف 85 اإ�ستبعاد اىل اأدى ما هذا و

ال�سكان من الإقرتا�ض


2

عاناها �لتي �خلانقة �لإقت�صادية �لعزلة تد�عيات �إنعك�صت

�لعر�ق يف �لعقود �ملن�صرمة على خمتلف قطاعاته �لإنتاجية،

م �ىل زيادة ن�صب �لبطالة، مرور� لت �لت�صخ فمن �إرتفاع معد

�لعزلة هذه ر توف ومل �لنفطي، قطاعه �أ�صاب �لذي بال�صلل

بطبيعة �حلال قطاعه �مل�صريف، ل �صيما بعد حتول �لعر�ق من

دولة ذ�ت فائ�ص �إحتياطي من �لعمالت �لأجنبية )4 مليار�ت

دولر �أمريكي( �إىل دولة مثقلة بالديون �خلارجية )نحو 130

مليار دولر �أمريكي(.

ويف �لبالد، يف للموؤ�ص�صات عديدة يات حتد خلق �لو�قع هذ�

�ت م�صرفية مها �مل�صارف �لتي وجدت نف�صها �أمام متغري مقد

قو�نني تو�كب ل متطورة، دولية و�أنظمة عاملية تكنولوجية

ة �إىل ت�صريعات جديدة �لعر�ق �مل�صرفية، ما جعل �حلاجة ما�ص

�مل�صريف من �لقطاع تخرج و�آليات و�صو�بط ن هيكلية تت�صم

افة من جهة تخلفه من جهة، وتك�صبه مرونة دميوقر�طية �صف

�أخرى.

يف ح�صورها خالل من DORCHESTER ملجلة كان وقد

وما �مل�صريف �لقطاع و�ق��ع على ف �ل��ت��ع��ر يف وقفة �ل��ع��ر�ق

يات، ف�صال عن ت�صخي�ص مكامن �لقوة يعرت�ص �صبيله من حتد

تتبعها �لتي �لإج��ر�ء�ت على �ل�صوء وت�صليط فيه، و�ل�صعف

لعني �أن تتبعها يف �لدولة �لعر�قية �أو يجب من وجهة نظر �ملط

�جلذب و�صائل ن توؤم م�صرفية ت�صريعية بيئة �إنتاج �إط��ار

�لالزمة للقطاع �خلا�ص �ملحلي و�لأجنبي، ف�صال عن نظرة

مع �لبالد، يف �مل�صريف �لعقاري �لتمويل و�قع عن موجزة

53 على يحتوي �لعر�قي �مل�صريف �لقطاع �أن �ىل �لإ�صارة

ع بح�صب �مللكية بني م�صرفا، ف�صال عن �لبنك �ملركزي وتتوز

9 �صمنها من �أهليا م�صرفا 47 و حكومية، م�صارف 6

م�صارف �إ�صالمية. وجميعها تتبع قانوين �لبنك �ملركزي و

�لأدن��ى �حل��د ويبلغ .2004 ع��ام �ل��ص��ادري��ن �مل��ص��ارف

85 حو�يل �أي عر�قي) دينار مليار 100 م�صرف لتاأ�صي�ص

مليون دولر �أمريكي(.

املالكي: تواأمة القطاع امل�سريف العراقي

مع امل�سارف العاملية ... �سبيل للنجاح

من وجهة �لنظر �لر�صمية جند �أن �لتفاوؤل مب�صتقبل �لقطاع

ملجلة خا�صة مقابلة ففي �ملوقف، د �صي �لعر�قي �مل�صريف

نوري �لعر�قي �ل��وزر�ء رئي�ص جمل�ص مع DORCHESTER�ملالكي قال "�إن �لعر�ق يتطلع من خالل �إزدهار و�قع �لقطاع

�مل�صريف �إىل فتح �آفاق �لتعاون و�لتعامل �لتجاري و�مل�صريف

تنمية يف �صريكا �ل��ع��ر�ق فيه ليكون �لعاملية �لبنوك م��ع

�لعالقات �لإقت�صادية و�ملالية و�لأعمال �مل�صرفية �لتي تكفل

و�لإ�صتثماري". و�لعمر�ين �لإقت�صادي �لنهو�ص حتقيق

كان ما �ل��ع��ر�ق يف �مل�صريف �لقطاع "�إن �ملالكي و�أ��ص��اف

عليها �إعتمدت �لتي �لتوجيهات لول وينتج ويعمل ك ليتحر

��ص��رك��اء حمليني ع��ن �لبحث �حل��رة يف �ل��ع��ر�ق��ي��ة �ل��ص��وق

وخارجيني يعملون مببد�أ �لتناف�ص لإ�صتكمال هذه �ل�صورة �أو

�ىل خاللها من �لعر�ق ي�صعى �لتي �لإقت�صادية �لنظرية

�لتي �حلديدية �ملركزية �لإ�صرت�كية �لنظرية من �لإنتقال

حكمت �إقت�صاده لعقود �إىل نظام �ل�صوق �ملفتوح". م�صري� �ىل

من و�لإفادة �لتعاون باإجتاه �مل�صي على عازم �لعر�ق "�أن كل �خلرب�ت �مل�صرفية �لعاملية وفتح �آفاق �لعالقات �لثنائية

رة متطو حملية ك��و�در توفري �إط��ار يف �مل�صارف جميع مع

ن �لعر�ق ت�صتفيد من خرب�ت وجتارب تلك �مل�صارف مبا ميك

من تر�صيخ قاعدة وطنية متينة للقطاع �مل�صريف". ومل ينف

كل تلبية يف �لعر�قي �مل�صريف �جل��ه��از حم��دودي��ة �ملالكي

نظر� للعر�ق و�لتجارية �ملالية و�لإحتياجات �لطموحات

بها تزدحم بيئة يف ول��دت �لتي �مل�صرفية جتربته حلد�ثة

�لن�صاطات و�إيقاع بحركة م تتحك م�صرفية �أمرب�طوريات

مبد�أ وفق �لعامل يف �لتجارية �لتعامالت وحجم �مل�صرفية

و�ملجالت �مل�صريف �لقطاع جم��ال يف �جلن�صيات دية تعد

�لأخرى، بيد �أنه بد� متفائال من جناح �لعر�ق وقطعه �صوطا

�أ�ص�ص ر�صينة، ف�صال عن �إىل يف بناء نظام م�صريف ي�صتند

فاعليتها و�صمان �مل�صرفية �ملوؤ�ص�صة لتطوير دقيقة رعاية

نا �أن �لعر�ق وجد من عرب تو�أمتها مع �مل�صارف �لعاملية. مبي

خالل �لتعاقد و�لتعامل مع �ل�صركات �لعاملية �أن �إحدى �لعقد

نظام وجود عدم هي �لبالد م�صرية وت�صتنزف تعرقل �لتي

م�صريف متكامل ومتطور باآلياته و�آفاقه وتبادلته �لتجارية.

طائلة من واخلروج امل�سريف.. القطاع

الف�سل ال�سابع

ومما ل �صك فيه �أن �صبب �إنح�صار دور �لقطاع �مل�صريف يف

�لعر�ق هو معاناته طويال من �حل�صار و�لعزلة �لإقت�صادية

�صيا�صات نتيجة �لعر�قية �مل�صارف على �ملفرو�صة و�ملالية

�لف�صل طائلة حت��ت �ل��ع��ر�ق و�صع �ل��ذي �ل�صابق �لنظام

يف جنحت �حلالية �لعر�قية �لدبلوما�صية �أن بيد �ل�صابع،

�إز�لة معظم �ل�صعوبات �لتي وقفت عائقا �أمام تطور �لقطاع

ده �ملالكي لفتا �ىل �أن " �لعر�ق رزح طويال حتت وهو ما �أك

للر�غبني �لعك�صية �لر�صالة �ل�صابع وعانى من �لف�صل وطاأة

�أن باإعتبار �مل�صريف قطاعه يف وحت��دي��د� فيه بالإ�صتثمار

�إىل و�أمنه و�إقت�صاده و�صيادته و�صعه يف �ص معر �لعر�ق

القطاع امل�صريف يف العراق

ة اإنطلق اإقت�صادي نحو املنطقة والعامل من�ص

بعد رفع اأحكام الف�صل ال�صابع هل يخرج مارد القطاع

امل�صريف العراقي من قمقمه باإجتاه العاملية!؟

باجتاه امل�سي على عازم العراق املالكي:

اخلبات كل من والإ�ستفادة التعاون

للعالقات اآفاق وفتح العاملية امل�سرفية

الثنائية مع جميع امل�سارف


Banking industry 1

Lebanon’s capital offers plenty to charm tourists and locals alike. Beirut

buzzes with cultural activities of all kinds and Cavalli Caffè is one of the newest and most exclusive restaurants in the city. Roberto Cavalli, the famous Italian fashion designer, has opened an intimate and boutique eatery, offering a luxurious combination of gastronomic delights, Italian sophistication and the chance to spoil yourself or a loved one with an extravagant culinary shopping spree.

Cavalli Caffè Beirut is the perfect locale, regardless of whether you want an after-work drink, brunch with friends, a delicious meal for two, or you simply feel like spoiling yourself. The luxurious atmosphere and opulent decor naturally attract Beirut’s best and brightest and there is always something exciting happening. With room for just eighty guests inside and forty guests on the terrace, the Cavalli Caffè is intimate and exclusive, guaranteeing a refined and unique atmosphere whilst patrons need not worry about having to spend extortionate amounts.

Discover Cavalli Caffè

The hottest new Italian fine dining experience in town


Happening in Town 1

The internationally renowned designer flew in at the beginning of May to launch the summer’s hottest event, Aperitivo- an Italian tradition where a selection of items on the menu along with delicious cocktails are offered to mark the end of the working day. Aperitivo is also the time for winding down and preparing for the evening meal, whetting the appetite and cleansing the palette. The cool beats playing in the background and mouth-watering menu bring a piece of ultra-cool Italia to the vibrant shores of the city.

As well as being one of the hottest locations in Beirut for eating, drinking, seeing and being seen, Cavalli Caffè is home to the decadent delight of Roberto Cavalli chocolates. The confections come in thirteen different and exciting flavours. Only the finest ingredients are used and the chocolates are exclusively available at the Cavalli Caffè. The chocolates are also an ideal treat year round.

They come in luxurious packaging, reflecting the Cavalli aesthetic, the signature animal print, or in designer arrangements, according to taste. If your appetite leans toward something a little more piquant, the Caffè also stocks Cavalli Reserve red wine, Grappa and Premium Italian Vodka.

Cavalli Caffè has also launched a bespoke catering service for people who want to take the Cavalli dining experience into their homes or favorite venues. Culinary delights will be supplied to make it the most stylish event in town.

Cavalli Caffè is the hot new favorite on the Beirut scene, seamlessly combining food and fashion, a friendly welcome, fantastic music and beautiful well-heeled clientele. It is one to visit the next time you are in the Lebanese capital.


2

$ 587 million water contract signed for the Kingdom TowerSaudi Arabia’s national water company agreed to a 2.2 billion-riyal ($587 million) supply deal with Jeddah Economic Co. for the Kingdom tower project in the Red Sea port of Jeddah, Saudi Press Agency reported.

The state-owned news agency said the 25-year agreement to supply 156,000 cubic meters of treated and drinking water a day, enough for 62 Olympic-size pools, was signed by the chief executive of the Jeddah-based developer, Waleed Batraji, and Loay al-Musallam, head of National Water Co.

Jeddah Economic Co. is developing the Kingdom Holding (KINGDOM) project, which includes plans to build a 1 kilometer-high (0.62 mile) skyscraper in Jeddah that would surpass the Burj Khalifa in Dubai as the world’s tallest tower.

bloomberg.com

Cave Hotel Underway in Water-filled Chinese quarryConstruction has started on a hotel resort that will nestle into the 100 meter-high rock face of an abandoned water-filled quarry outside Shanghai.

A huge waterfall will pour down from the roof of the 19-storey hotel complex, which will have part of its body built into the cave and two of

its floors submerged beneath the water.

An extreme-sports facility will be cantilevered over the quarry, offering rock climbing and bungee jumping, and there will also be an underwater restaurant facing a ten-meter deep aquarium.

The Songjiang Hotel is designed by UK architecture firm Atkins, who won the competition bid in 2006. Construction has just begun and will take up to three years, although the hotel could open in 2015.

dezeen.com

Walkie-Talkie skyscraper in London should be two-thirds rented out when it opens next yearTwo-thirds of the Walkie-Talkie skyscraper in London’s financial district should be rented out by the time it opens next year as companies revive moving plans shelved during the financial crisis, developer Land Securities, said.

The tower, located in the City of London’s insurance neighborhood, is being co-

developed with Canary Wharf Group and currently has pre-letting deals for 52 per cent of its floor area, Britain’s largest listed developer said in a trading update on Wednesday.

The projects include the 897,000 square feet Nova Victoria scheme of offices, shops and apartments being developed with Canada Pension Plan Investment Board.

Land Securities sold £152.6 million (Dh853 million, $231 million) of property in the three months to the end of June and signed £5.5 million of development lettings, it said in a statement.

gulfnews.com


1 Real Talks

Prime central London property prices still rising, but rate of growth slowingPrime central London residential property prices increased by 0.6% in October and have increased by 6.2% over the first 10 months of 2013, the latest index shows.

The biggest increases in property prices in October came from City Fringe, Islington and Marylebone at 3.5%, 1.7% and 1.5% respectively.

However, in spite of new record prices, there is a moderation in price growth across prime central London following very strong performance over recent years.

Annual growth, which currently stands at 6.8%, compares to 10.1% in the 12 months to October 2012 and 12.5% in the year to the end if October 2011.

While prices have been rising for 35 consecutive months, the rate of annual price growth has slowed. Prices rose 7% in the 12 months to the end of September, compared to 10% in the same period to September 2012.

Prices in prime central London have risen by 5.5% since January, but this headline figure masks variations in performance between individual markets and price brackets.

In comparison, property prices in Belgravia fell on a quarterly basis by 0.2% in the third quarter of the year and have grown by only a modest 0.8% over the year to date.

propertywire.com

Beijing goes hunting for overseas real estate bought with dirty money

China’s corrupt officials and crooked businessmen have smuggled billions of dollars overseas, much of which has ended up in real estate in the United States, Canada, Australia and the United Kingdom—particularly in high-end neighborhoods in London, New York, Los Angeles, Sydney and Toronto. Now the Chinese government is embarking on a worldwide hunt to seize the properties with help from foreign governments, according to asset recovery and anti-corruption specialists.

Since Wang Qishan, the Communist Party chief tapped to head China’s new anti-corruption drive, took office last fall, he has been pushing to crack down on capital flight from the country. In recent months, Chinese officials have quietly said they are specifically targeting foreign assets, and sought help from organizations like the OECD, anti-corruption groups and the foreign government agencies including the US Commerce Department about their newly aggressive pursuit of overseas real estate.

Chinese officials “are interested in understanding where the assets are” in the US, and “the US has said it will work with them,” said Nathaniel B. Edmonds, a former Department of Justice official and a partner with the Washington DC law firm Paul Hastings. In July, Canada and China agreed to seize, share and return the proceeds of crime.

Beijing’s interest in hunting down the proceeds of corruption takes place amid a similar push around the globe, with countries like Libya seeking to take back the assets that their corrupt officials have squirreled away.

qz.com

UAE central bank reveals new mortgage rules

New lending rules for buying property in Dubai have been issued by the UAE central banks with limits for both nationals and foreign buyers needed a mortgage.

UAE nationals seeking a mortgage for a first property will be able to buy access a loan up to a maximum of 80% of the property’s value for properties worth Dh5 million and lower and 70% for more expensive properties.

An UAE national wanting to buy a second property will be limited to a maximum of 65% of the value of the property regardless of its price.

Expats living in the UAE buying a first property will be able to borrow up to 75% of the value of the property if it costs DH5 million or less and 65% for properties worth more. For a second property the limit has been put at 60%.

However, mortgage applicants buying off plan will be limited to as maximum mortgage loan of 50%. The new rules also set a maximum loan period of 25 years and the maximum age for the borrower at the time of the last instalment will by 70 years old for UAE nationals and 65 for expats.

The central bank also said the total monthly instalments of all debt should not exceed 50% of an applicant’s monthly income. The maximum financing allowed for UAE nationals will be eight times of annual income and for expats it will be seven times of their annual income.

propertywire.com


2

Zaha Hadid wins competition for Saudi Arabian metro station Zaha Hadid Architects has won a competition to design a metro station for Riyadh, the Saudi Arabian capital. As part of Riyadh's all-new public transport system, the station will be located on the edge of the King Abdullah Financial District and will function as a major interchange between three of the city's six new metro lines.

Zaha Hadid Architects has planned the four-

storey structure with six platforms, as well as two floors of underground parking. A network of pedestrian pathways will snake through the building, designed to minimize congestion, plus passengers will be able to access the city's monorail network via a new bridge.

The walls and roof of the building will appear as a series of undulating waves interspersed with curved Mashrabiya screens. The architects describe it as "a three-dimensional lattice defined by a sequence of opposing sine-waves". The project is due to complete by 2017.

dezeen.com

Farrells develops £1 billion Chinese business hub in London docklandsBritish architect Terry Farrell's firm is onboard to master plan a £1 billion business hub in London's docklands for Chinese and Asian businesses.

The Mayor of London's office has announced its plan to transform a 14 hectare site at the Royal Albert Dock, a stretch of land near London City airport, into a gateway for Far

Eastern businesses looking to establish their headquarters in Europe.

Farrells, which has offices in London, Hong Kong and Shanghai, is creating the master plan for the £1 billion development, which will comprise around 230,000 square meters of office space as well as shops, apartments and leisure facilities.

The first phase of 55,000 square meters is due to open in 2017, subject to planning permission, with work on the site intended to be completed by 2022.

dezeen.com

New York's tallest residential building... and apartment prices start at $ 20mIt is a city already known for its huge buildings and skyscrapers. But as this incredible picture show, New York is about to add another monster to its skyline.Standing at an astonishing 1,396-feet, 432 Park Avenue will be the tallest residential building in the western hemisphere once it is completed.But, those looking to live in the 96-story tower will need to be extremely wealthy. Prices at the tower - which will challenge the Empire State Building as the tallest tower in the city - start at the eye-watering price of $20 million for a three-bedroom unit complete with small terraces and libraries.If you are looking to get your hands on a full floor penthouse with 360-degree views across the city, it will set you back $85 million.The building will be situated on the site of the former Drake Hotel and comes with 10x10 floor windows and nine-foot doors.Amenities in the building include a 75-foot-long pool, steam room, fitness Centre and sauna. There will also be guest apartments and offices.Because of its height, the building will need an aviation consultant to provide a study for the FAA to ensure it won't be a danger to planes and helicopters.It is believed a third of the 123 units inside the building have been sold. The building is scheduled to be finished by 2015.

dailymail.co.uk


3 Real Talks

Foster + Partners completes upgrade of Cathay Pacific’s first class cabinThe Wing, Hong Kong International Airport, Opened earlier this year, the Wing is the second in a series of lounges by Foster+ Partners for Cathay Pacific at Hong Kong International Airport and provides business and first class spaces on levels six and seven. Every detail of the interiors, from the Champagne Bar to the bathroom fittings in the luxurious first class “cabanas”, has been custom-designed by the practice to create an exceptional experience for guests.

The design reinforces the relationship with the building and with views of the outside world, connecting the interiors of the light-filled space beneath the airport’s soaring roof. To create a dramatic sense of arrival, the double-height reception space for business class passengers at level 6 is open to views of the floor above and roof canopy beyond, and incorporates a black glass lift and grand black marble staircase. The transition from security, the first-class lounge, to gate is equally seamless. The first class reception area, with its specially-commissioned wall of illuminated glass fins, allows guests a glimpse of the large, open balcony, while retaining a sense of exclusivity...

Racing for the world's tallest building

Following the construction of the world's tallest building - the Burj Khalifa - in Dubai in 2010, standing at 828-metres high, countries around the world have been eager to break the record

Currently, the Kingdom of Saudi Arabia is constructing the one-kilometer "Kingdom Tower," built by Kingdom Holding in Jeddah. The $1.2-billion project will feature a hotel, plus a retail and luxury residential project.

However, Saudi billionaire Prince Alwaleed bin Talal has been eyeing other cities, including Shanghai, Moscow, London and New York, as possible locations to build a

one-mile-high skyscraper that would be the world's tallest building by far. Kingdom Holding will also handle the new project, yet the prince has also enlisted the help of Dubai-based developer Emaar Properties. The structure is expected to reach ground level by the end of this year and to be completed by 2017, said Talal Al Maiman, executive director at Kingdom Holding.

Qatar also announced, this year, that it, too, would be constructing the world's tallest building, once it finds a suitable location in its capital city, Doha. Ezdan Real Estate chairman, Sheikh Thani Bin Abdullah Al Thani, told the Qatar Tribune about the project in March, but gave no further details.

Earlier this year, it was also reported that the Abu Dhabi Group had signed an agreement with Pakistan's property tycoon and founder of Bahria Town, Malik Riaz, to build the world's tallest building in Karachi. However, the group refuted claims one month later, saying the agreement did not, in fact, involve building the world's tallest tower.

Dubai Marina currently houses the world's tallest residential building, the Princess Tower, standing at 414 meters high, and the world's tallest hotel, the JW Marriott Marquis on Sheikh Zayed Road, standing at 355 meters high.

ameinfo.com

New National Stadium of Japan to be venue for Tokyo 2020 Olympic and Paralympic GamesInternational Olympic Committee president Jacques Rogge has announced Tokyo will host the Summer Olympic and Paralympic Games The announcement confirms the

New National Stadium of Japan by Zaha Hadid Architects will host the athletics events as well as the opening and closing ceremonies of the Tokyo 2020 Olympic and Paralympic Games.

Zaha Hadid said: “Our many congratulations to the Tokyo 2020 team, the Japan Sport Council, everyone in Tokyo and all across Japan. The public’s support has been remarkable and we are very proud to be part of the Tokyo 2020 Olympic and Paralympic Games. We have put together an excellent team to deliver a magnificent venue on schedule for the 2019 Rugby World Cup and Tokyo Olympic Games the following year.”

The New National Stadium, near Shinjuku, Tokyo, includes seating for 80,000 spectators and a retractable roof. Adjustable seating sections will move closer to the field of play for football and rugby matches, and enable the stadium to host many other sporting and cultural events. The design incorporates public programs that will engage with the city and give Tokyo a lasting legacy well beyond the 2020 Olympic Games.


4 Real Talks y

Marina | Yacht Club | Commercial Center | Event Hall

More than just yachts!Al Furusiya, with the first luxurious Commercial Center overlooking the Marina and Yacht Club. Enjoy the luxury Terrace Restaurants, Event Hall with an elegant Shoping environment.

Al Hamraa Corniche, Beside the Park Hyatt hotel complex, JeddahFor more information: +966-554-409-960 | +966-12-284-1012 [email protected] | www.dorchesterestates.com

Marina Restaurant & CaffeYacht ClubCommercial CenterEvent Hall

jeddah, 2013

khayat center-2, thahlia street, jeddah, saudi arabia | t +966 12 284 0798 | f +966 12 284 [email protected]

Design is the most important in the stages of production, and primarily the quality of any product lies in excellence of idea and design. DORCHESTER Magazine attended the most important forums in global design at the capital of designs - Milan, which was held under the auspices of Association of Industrial Design in Ocober / November 2013 in the famous Triennale Design Museum. It was a great opportunity as well to meet many of the well known designers and experts in the field.

The Italian Association for Industrial Design - the leading global institution of industrial design, has been established in 1956 by legendary Italian designers, craftsmen, researchers, teachers, critics and journalists. The focus of attention on topics including project design, design methods, helping to legalize the consumption of energy, reuse of materials in the production or the so-called recycling, training, product design, design services, visual communication, packaging, interior design and design service environment.

Since 1964, the ADI Compasso d’Oro Award is being promoted by the ADI foundation in partnership with ADI. The award was established from an original idea of Gio Ponti and Alberto Rosselli in 1954, which is awarded every three years and which is considered the most important and oldest award for design globally.

At the end of three-years cycle of work, the Permanent Design Observatory conducts its most important work through more than 1,000 members of the association on the preparation of workshops and seminars that combine the views, thoughts and actions of the designers and creators and production enterprises, which creates a climate of catalyst for creativity and innovative new products.

In addition to the Compasso d’Oro Award, the ADI publishes the annual ADI Design Index, which brings together the most prominent business guide that has been produced during the year. These creative works are gathered by the permanent monitoring body composed of members of the association and the mere entry of a product or idea or design in this guide is a testament to the quality of the product or design or both. For our readers, DORCHESTER Magazine has selected some of the 170 products / services / projects from the 2013 Selection.

�آلة تثقيب هيدروليكية

MTX FLEX HYBRIDHydraulic punching machine.Client: EuromacDesigner: Synthesis Design.

ار�ت نظ

HAPTER TXTL001 - GlassesClient & Designer: Hapter

�ملنتجات �ملختارة للم�صاركة يف �مل�صابقة �لدولية للطاقة

�ل�صم�صية �لع�صارية �أوروبا 2012

Product selected to take part in the Solar Decathlon Europe 2012 competition

Client: Roma Tre, La Sapienza Università Di Roma

MED IN ITALY

عملية �لت�صميم لتخطيط �حللول و�أدو�ت �لقيا�ص

و�صمان �جلودة

Design process for the planning of solutions and tools for measuring and quality control.Client: Gruppo LoccioniDesigner: Isao Hosoe, Lorenzo De Barto-lomeis

DESIGN SYSTEM

جهاز متحرك لإ�صد�ر �لتذ�كر تلقائيا

ETM - Mobile machine for automatic ticket issueClient: Sigma

Designer: Studio Volpi - Gianmario Volpi

HAPTER

نظام متكامل للت�صخي�ص و�لعالج �لطبي

H@H - Hospital At HomeIntegrated system for diagnosis and medical treatmentClient: Item OxygenDesigner: Cetma - Centro Di Progettazione, Design & Tecnologie Dei Materiali

ت�صميم للم�صتقبل: مو�د و�أ�صكال و�ألو�ن

DESIREDesign for the future: materials, shapes,

colours and emotionsClient: Agemont Centro Di Innovazione

Tecnologica Designer: Design Group Italia

جهاز لتحديد �ملدى

GO-DI - Protractor-range finderDegree thesis in Industrial DesignDesigner: Luca Dellepiane, Nicolò Spallarossa

مقيا�ص �لإنك�صار - جمهر حممول

2WIN - Handheld binocular refractometer and vision analyzer

Client: AdapticaDesigner: Paolo Bacco - Rebeldesign® with

Patrizia Piras

Industrial DesignCompasso d’Oro award for the most outstanding designs and quality


y Design 5

كتاب يف �حلياة �خلا�صة ملو�د �صوفياتية

25 ق�صة من عامل �آخر

The Private Life Of Soviet Items 25 stories from another worldBook Publisher: Adelphi Edizoni Author: Neil Macgregor Edited by: Matteo Codignola, Simona Sollai

معر�ص »على طريق �حلرير- �ل�صبل �لقدمية بني �ل�صرق و�لغرب«

Exhibition organized by American Museum of Natural History, New York. Place: Palaexpo, Torino Client: Azienda Speciale Palaexpo Design: N4studio with Alessandra Dighera, Laura Lalario, Federica Franco

Book

ON THE SILK ROAD

كتاب لأوبر� �صكلتي )1938 - 1973(

GINO SARFATTIOpere Scelte 1938-1973 Selected Works

Publisher: Silvana EditorialeAuthor: Marco Romanelli, Sandra Severi

متحف تفاعلي بالو�صائط �ملتعددة، و�حل�صية

SEZIONE IL '500 INTERATTIVOMultimedia, sensorial and interactive museum

Client: Fondazione Bergamo Nella StoriaDesign: N!03, Alessandro Bettonagli Entertainment

�لتقليد و�لإبتكار- �إيطاليا يف �ل�صني

Temporary exhibitionClient: Fondazione La TriennaleDesigner: Pierluigi Cerri, Alessandro Colombo Studio Cerri

MUSEO STORICO DELL'ETÀ VENETA

معر�ص �صور

Italian Contemporary ExcellencePhotographic exhibitionClient: Fondazione AltagammaExhibition, lighting and graphic designer: Ico Migliore, Mara Servetto - Migliore + Servetto Architetti Associati with Valentina Lombardo, Anna Piccinelli.

ALTAGAMMA

TRADITION AND INNOVATION. ITALY IN CHINA

كتاب ن�صاأة وتطور �ل�صيار�ت

CAR DESIGN - Genesi ed evoluzione del design automobilistico.Publisher: Editrice Compositori - Marcio Di Compositori ComunicazioneAuthor: Enrico Leonardo Fagone.

مة �إجتماعية ل تبغى �لربح منظ

H2o

Non Profit-Making OrganizationConcept: Cintya Concari, Roberto Marcatti

كتاب نظرية �صناعة �لفنون �جلميلة

Theory of the fine arts industryPublisher: Giulio Einaudi Editore - Piccola

Biblioteca Einaudi Author: Maurizio Vitta

MUSEO DELLA STORIA DI BOLOGNAمتحف تفاعلي

Extensive Interactive MuseumClient: Fondazione Cassa Di Risparmio Di Bologna

Design: Mario Bellini with Giovanni Cappelletti Graphic design: Italo Lupi

�إعادة تعريف �لهوية وخدمات ��صرت�تيجية للتنقل

Company Re-branding and StrategyClient: Apam Esercizio

Designer: Luca Buttafava, Alessandro Confalonieri - Intersezioni

APAM

نتجت ومت تر�سيحها »من اأ�سل اأبرز الأعمـال التي اأ

170 عمل« من قبل اجلمعية بعد 3 �سنوات من ور�ض

العمل والندوات التي جتمع اأراء واأفكار واأعمال

�سات الإنتاج مني واملبدعني وموؤ�س امل�سم


4

Cambiano Pininfarina�صيارة ريا�صية تعمل على �لطاقة �لكهربائية

Electrically powered luxury sports saloonClient: Pininfarina

Designer: Pininfarina

كروزر �صديق للبيئة

Eco-friendly fast cruiser with semi-rigid rig airfoil, Master’s dissertation, Designer: DIEGO AMADEIOrganization: Università Degli Studi Di Genova, Polo Universitario Di La Spezia

در�جة نارية

Ducati Hypermotard Sp - MotorcycleClient: Ducati Motor Holding

Designer: Ducati Design Center

قو�رب ترفيهية

Semi-displacement hull recreational trawlerBuilder: Azimut Benetti - Divisione MCExterior styling and concept: Cor D. Rover DesignInterior designer: Style Dept. Azimut MC

ر�فعة كهربائية لل�صفن و�ملر��صي

Electrically operated windlassClient: QuickDesigner: Quick Spa - Laboratorio Ricerca Sviluppo E

نظام لإنارة �ل�صو�رع و حركة �ملرور

Urban and extra urban street lighting system for principally traffic bearing areas

Client: Iguzzini illuminazioneDesigner: Piano Design

�أنظمة �إ�صاءة للطرق مع حركة �ملرور

Street-lamp illumination systems for open spaces and streets with traffic.

Client: NERIDesigner: Hasuike Makio - Makio Hasuike & Co.

م�صروع ت�صميم د�خلي

Interior design projectClient: Dassault Aviation

Designer: Lazzarini Pickering Architetti with Stephane Boucher, Antonio Cavallo, Serena Bisceglia

AZIMUT MAGELLANO 43HT

PRINCE SERIES

JET PRIVATO

COMFORT: ALYA, HYDRA

WOW

منوذج �أويل من جمموعة فولزفاغن للمحركات خمتلطة )هيجن(

BRIVIDO - Functioning prototype developed on the basis of Volkswagen Group running gear, and hybrid engines.Client: Italdesign Giugiaro.Designer: Italdesign Giugiaro.

IED 40'

Aston Martin V12 Zagato�آ�صنت مارتن v12 مليتد ادي�شن

Limited edition road going version of the Aston Martin V12 ZagatoClient: Aston Martin Lagonda Limited

Designer: Zagato


Design 3

طاولة مزودة بالهو�ء �ل�صاخن للتدفئة �خلارجية

Heated table for seating outside bars and restaurantsClient: Polidoro

Designer: MM Design

ت�صكيلة طاولت جانبية

MACRAMÈCollection of coffee tables.Client: Fiam ItaliaDesigner: Paolo Lucidi, Luca Pevere- Lucidipevere Studio

كر�صي

WING Chair

Client: LemaDesigner: Werner Aisslinger

طاولة رخامية

TOBI-ISHI Table

Client: B&B ItaliaDesigner: Edward Barber & Jay Osgerby

كر�صي مع م�صند متحرك

JOYNTChair with articulated backrestClient: Lago

Designer: Harry Owenwith Lagostudio

ملبة جدر�ن متحركة

Adjustable wall-mounted lamp Client: Luceplan

Designer: Daniel Rybakken

COUNTERBALANCE

TABULA

كر�صي لإ�صتعمالت متعددة

SATMultipurpose chairClient: Euro 3 Plast Designer: Marco Zito

طاولة متحركة / عربه

Mobile table/trolleyClient: Casamania Designer: Gamfratesi

Design Studio

حو�ص �ل�صتحمام خمفى

Bathtub with concealed whirlpoolClient: Gruppo Tre S

Designer: Marc Sadler

CHARIOT

FUSION

جل�صة خارجية

Outdoor ChairClient: Emporium, Designer: Roberto Giacomucci

CORA, ZOE

مقعد �صتانل�ص �صتيل عايل

SSSSSweet Stainless Steel StoolSwivel bar stoolClient: MagisDesigner: Philippe Starck with Luigi Barei.

Some of the 170 products, services and projects selectd by the Permanent Design Observatorty at the end of three years work


2

الت�صميم ال�صناعي

زا جائزة Compasso d'Oro الأكرث الت�صاميم جودة ومتي

يعترب �لت�صميم �أهم مر�حل �لإنتاج، وتكمن بالدرجة �لأوىل

ويف وت�صميمه، فكرته متيز يف منتج �أي جودة

ح�صرت ميالنو- - �لت�صاميم عا�صمة

�أه��م DORCHESTER جم��ل��ة

�لتي �ل��ع��امل��ي��ة، �لت�صميم م��ن��ت��دي��ات

�لت�صميم ج��م��ع��ي��ة ب��رع��اي��ة ق��ي��م��ت �أ

Associazione per il �ل�صناعي

خالل Disegno Industriale ADI�لرتينايل مبنى يف 2013 �أوكتوبر/نوفمرب

�ل�صهري، وكان لها يف هذ �لإطار لقاء�ت مع �لعديد

مني و�خلرب�ء يف هذ� �ملجال. من �مل�صم

�ملعنية �لعاملية �ملوؤ�ص�صات �أبرز من ADI وتعترب جمعية

بالت�صميم �ل�صناعي، وقد جرى تاأ�صي�صها عام 1956 على

��ني، و�حل��رف��ي مني �مل�صم م��ن ��ني �لإي��ط��ال��ي �لعمالقة ي��د

ز �إهتمامها اد و�ل�صحافيني. ويرتك �لباحثني، �لأ�صاتذة، �لنق

�لت�صميم، �مل�صاريع، طرق ن: ت�صميم تت�صم على مو��صيع

�إ�صتخد�م �ملو�د �إعادة �إ�صتهالك �لطاقة، �مل�صاعدة لتقنني

�لتدريب، ،(Recycling) �لتدوير ي�صمى ما �أو �لإنتاج يف

�خلدمات، ت�صميم �ملنتجات، ت�صميم �لكفاء�ت، تبادل

و�لت�صميم �لد�خلي �لت�صميم �لتغليف، �ملرئي، �لتو��صل

خلدمة �لبيئة.

�لكومبا�ص�صو جائزة 1964 �لعام منذ ADI جمعية ترعى

دورو ( Compasso d'Oro) �أو �لفرجار �لذهبي، ومتنح

هذه �جلائزة كل ثالث �صنو�ت لأكرث �لأعمال �ملنتجة متيز�.

(Gio Ponti) م �لإيطايل �ل�صهري جيو بونتي �إبتكرها �مل�صم

وذلك يف �لعام 1954، وتعترب �أهم و�أقدم جائزة للت�صميم

تها يف �إبر�زها مو�طن �لقوة و�لتميز يف عامليا، وتكمن �أهمي

م يف �آن، زخما �ملنتجات، ما يك�صب �ملنتج و�مل�صم

يعك�ص ما �لعاملية �ل�صهرة �إىل ي ي��وؤد كبري�

زيادة يف �ملبيعات.

1000 ع�صو يف م��ن �أك��رث وم��ن خ��الل

�جلمعية، يجري �لعمل على �إعد�د �أهم

�أر�ء جتمع �لتي و�لندو�ت �لعمل ور�ص

و�مل��ب��دع��ني مني �مل�صم و�أع��م��ال و�أف��ك��ار

ز� حمف مناخا يخلق ما �لإن��ت��اج، �صات وموؤ�ص

لإبد�ع منتجات جديدة ومبتكرة.

ت�صدر �جلمعية دورو، �لكومبا�ص�صو �إىل جائزة وبالإ�صافة

دلي�ل وه��و (Design index) �ل�صن�وي �لت�صمي�م دلي�ل

يجم�ع �أبرز �لأعم�ال �لتي مت �إنت�اجه�ا خ�الل �لع�ام. وتعن��ى

بجم�ع ه��ذه �ملنتج�ات هيئ�ة ر�صد د�ئمة موؤلفة من �أع�صاء

�أو ت�صمي�م يف ه�ذ� �أو فكرة منت�ج د وجود �جلمعية، وجمر

حد على �ملنتج �أو م للم�صم ج��ودة �صه�ادة يع�د �لدلي�ل،

�صو�ء.

جائزة على �حل��ائ��زة �لأع��م��ال بكل �جلمعية وحت��ت��ف��ظ

من وذلك �لتاريخية جمموعتها �صمن دورو �لكومبا�ص�صو

للجمعية. �لتابعة �ل�صناعي �لت�صميم �صة موؤ�ص خ��الل

�لإيطالية �حل�صاري �ل��رت�ث وز�رة �أن بالذكر، و�جلدير

�لتاريخية �ملجموعة �أن فيه �أعلنت مر�صوما �أ��ص��درت

�إ�صتثنائية "ذ�ت للكومبا�ص�صو دورو هي عبارة عن �أعمال

�لإيطايل �لوطني �ل��رت�ث من " و�إعتربتها وتاريخية فنية

لكونها ح�صيلة �أهم �لأفكار و�ملنتجات �لإيطالية يف �لتاريخ

�حلديث.

جيو بونتي

Premio Compasso d'Oro ADI


Design 1

T he ski season is approaching fast and enthusiasts are already planning their winter breaks. DORCHESTER has rounded up the best international skiing available

in one comprehensive list for the discerning skier. From the European traditional classics to new world challenges, there is something for every ski fan, regardless of talent, budget or time of year.

World’s Top

Ski Resorts

Megève, France

Gstaad, SwitzerlandWhistler Blackcomb Resort,

British Colombia, Canada

When one thinks of skiing in Europe, Switzerland is one of the first destinations to come to mind. Gstaad alone offers 220 kilometers of pistes, 10 ski schools, 3 snow parks and guaranteed skiing from mid-October to early May. A large range of four and five-star accommodation is available, as well as options for smaller budgets. If any of your party should not be a skiing enthusiast, Gstaad offers many more cultural distractions such as music festivals and golf tournaments!

Megève remains one of the most famous and fanciest ski resorts in the world. It's a commune in the Haute-Savoie department in the Rhône-Alpes region in south-eastern France with a population of over 4,000 residents. The town is well-known due its popularity as a ski resort near the Mont-Blanc in the French Alps. Conceived in the 1920s as a French alternative to Saint-Moritz by the Rothschilds, it was the first purpose-built resort in the Alps. Originally it was a prime destination for the French Aristocracy.

The BC resort of Whistler in Canada is considered by many to be in a class of its own when it comes to snow, terrain diversity, infrastructure and the number of winter sports available. It is the biggest ski-area outside of Europe and hosted the alpine events of the 2010 Winter Olympics. Across the board, Whistler comes up trumps for on and off-piste terrain, extent and variety of terrain, après-ski, nightlife and restaurants. It has over 200 runs, 39 lifts and a ski field of over 19 km. Whistler has been voted best overall resort by Forbes, highlighting its luxzurious credentials, as well as by ski-experts 'Powderhounds.com' and voted No.1 North American Ski Resort by SKI magazine. Whistler, located only 125 km2 north of Vancouver, is a must for any skier.


1 Tourism

Aspen, Colorado, USA

Chamonix, France

Cortina d’Ampezzo, Italy

Though renowned as a glamorous ski location, Aspen, Colorado has plenty to tempt all types of skier. It is a huge terrain across four mountains, with 329 marked trails, 43 ski lifts and unbeatable weather. Whether you are a beginner, intermediate or a serious skier or snowboarder, Aspen has the slope for you. Hotels, hostels and self-catering accommodation are available for all budgets and parties. For romantic get-aways, family holidays or gatherings of ski-keen friends, Aspen delivers.

There is no denying the allure of the French Alps and Chamonix is on the list of every serious skier. Some of the slopes are amongst the most challenging in the world and Mont Blanc dominates the amazing scenery. There are less terrifying slopes for the less seasoned skier and France’s reputation for excellent cuisine does not disappoint even this high up. There are 8 ski resorts with easy access to Switzerland and Italy. Friendly locals, a dizzying amount of accommodation options and a variety of skiing fields makes Chamonix the perfect European destination.

Another European favorite are the Italian Alps, but Cortina d’Ampezzo, located in the eastern part of the Dolomites, give the Alps a run for their money. This resort is open, sunny, with breath-taking views in all directions. Approximately 140 km2 of slopes guarantee skiing from November until April. The first Winter Olympic Games to be held in Italy in 1956 were held here and international sports events are held here every year. Cortina is perfect for hobby-skiers, beginners and intermediates though serious skiers may struggle to find the challenging slopes they seek. The beauty of the region and the vibrant social life more than makes up for this.


2

Dorchester Estates Opens a new branch in Baghdad

Dorchester Estates, one of the most respected names in the

real estate market, opened a new branch in Baghdad, Iraq

this September. The inauguration was attended by Custodian

of Baghdad Mr. Ali Mohsen Al-Tamimi, Baghdad’s Investment

Commission Chairman Mr. Shaker Al- Zamily, as well as Baghdad’s

renowned businessmen and top executives.

Dorchester Estates was established in London in 1987. Its success in

Saudi Arabia enabled the group to pursue regional expansion. Having

its first regional office was in Beirut, and then came Cairo, Damascus

and now Baghdad.

Happening in Town


1


2

The Salone Internazionale del Mobile (Milan Furniture Fair) has come a long way since its humble beginnings.

Founded in 1961, it was initially backed by the FederlegnoArredo trade association and the focus was solely on Italian furniture. In its 2013 incarnation, the fair is organised by Cosmit, a member of the

ICSID (International Council of Societies of Industrial Design), hosted more than 2,700 Italian and international exhibitors and was visited by over 324,000 people.

Laying the foundationsIt was 1960 and Europe was still recovering from the devastation of WWII. Economic activity was slowly resuming but whole cities across the continent had to be rebuilt. It was a time for opportunity and new growth in architecture, design and construction and Italy made the most of the situation. Architecture and design had always been an important culture in Italy and the country boasted an excellent reputation in the tradition of furniture design and production, going back as far as the 14th century. Important movements in architecture (Rationalism) started in Italy in the twenties and thirties and had fed into furniture design. Against this background, a delegation of Italian industrialists visited the Furniture Fair in Cologne, Germany in 1960. The model of the fair was simple: around fifty entrepreneurs came to Cologne, inspected the furniture exhibition and discussed business together over dinner. The Italian delegation was convinced that there was room for another furniture fair on the European stage, and that an Italian fair would bring its own distinct and artistic flair. And so the idea of the Salone del Mobile was born.

In those days, getting such an idea from concept to realization was considerably more simple and the first Salone del Mobile opened its doors in Milan in September

1961. There were 328 exhibitors, all Italian, presenting the best of Italian furniture over an area of 11,860 square metres (approximately 36 square metres per exhibit). There were around 12,100 visitors; only 800 of those came from abroad to visit the fair.

By 1991, the fair was firmly established in the annual design calendar as the April event and its figures have improved consistently, year on year. As well as the best of Italian designers, the Salone Internazionale del Mobile now also hosts foreign designers and brands (1,618 Italian exhibitors and 1,166 foreign exhibitors in 2013). The exhibition area exceeds 200,000 square metres. The fair has become a centre of excellence for furniture design. It is now visited by more than 324,000 people, one of the highest figures for fairs in the world and two-thirds of those come from abroad.

Salone del MobilePast, Present and Future

Over 324,000 visitors came to the show; more than 193,000 of those

came from abroad in 2013

Fiera Milano in 1961

Esterno outside view 1970


1 Lifestyle

Many of these visitors are from within the trade, but there are also record numbers of architects, designers and around 5,000 international journalists who make the trip to Milan every year. No serious actor in the world of furniture design or sale can afford to miss Salone del Mobile.

Italy’s role in international designThe importance of Italy’s role in the world of design, in particular throughout the sixties and seventies, is well

known. The environment fostered creativity and vision and the skill, enthusiasm and variety of cultures resulted in the production and re-imagination of shapes, materials and processes, thoroughly impacting the history of design. Names like Giulio Castelli, Gae

Aulenti, Ettore Sottsass, Marco Zanuso, Gio Ponti, Gaetano Pesce, the Castiglioni brothers and Alessandro Mendini have become synonymous with the genius of Italian design. In addition to home-grown talents, several gifted designers from abroad chose Italy as their base of operations, such as Richard Sapper, Philippe Starck, Toshiyuki Kita and many others. They presented at the Salone for over 15 years, helping to build up its image.

The Salone Internazionale del Mobile’s success may lie in the fact that it fuses design, creativity and commerce seamlessly. Perhaps because of Italy’s expertise in the three F’s (Food, Furniture, Fashion), the event has a style and brio

which makes it feel that the business and networking happen almost by accident.

The Salone functions by uniting two main principles of furniture design, represented by two geographical regions. The Brianza province, in the Lombardia region to the north of Milan, has traditionally specialized in the area of creativity and innovation, while in the east of the country (Verona, Vicenza, Treviso and Udine), the emphasis is on production and design, specializing in traditional furniture. The Salone brings these two areas of expertise together to form a comprehensive whole, promoting Milan as the place to develop exporting business relationships, an area where Italy has long led the international market. The association behind the show, FederlegnoArredo is the Italian federation of woodwork and furniture industries and has always sought to ensure that the show is a marketing tool available to the entire domestic industry. The system functions by bringing companies together to cooperate and compete simultaneously. This creates a unique atmosphere designed to get the best from its participants.

Claudio Luti, president of Kartell (renowned Italian design firm) and Cosmit (Italian

Fiera Milano venue in 2013

From Salone del Mobile,1961. Left: The first Organizing Committee of the Salone del MobileRight: The opening tour stops at the booth of a chair producer

Companies which have been able to evolve and organize themselves to export their products to continue to compete at an international level

The Salone’s success may lie in the fact that it fuses design, creativity

and commerce seamlessly


2

acronym for Organising Committee of the Italian Furniture Exhibition) who was interviewed by DORCHESTER Magazine said: “2013 was a record year for the Salone Internazionale del Mobile. Over 324,000 visitors came to the show; more than 193,000 of those came from abroad”. Luti sees these impressive figures as a result of the show’s ability to adapt to among other things, economic factors and marketing needs. “The Salone is the only opportunity for a company to meet operators from all over the world, over the six-day event. It is the perfect platform for presenting and viewing innovation and excellence in products and processes. One of the main strengths of the show is to act as the point of connection between product, innovation and the international market. I believe that the number of exhibitors as well as the number of visitors would suggest that the industry is in agreement on this point and indicates the health of our event.” Luti says

Regarding the economic crisis, which has hit Italy particularly hard, he takes a pragmatic view. Luti remarks: “Though the domestic market is experiencing a stasis, companies which have been able to evolve

and organize themselves to export their products can continue to compete at an international level. This is thanks, in no small part, to Italy’s long-standing reputation of excellence in the field.” Luti is looking toward the future, building on the success of the past.

A contemporary fixtureIn 1994, the Salone Internazionale del Mobile’s finally outstripped the Cologne furniture fair in size and importance. The Salone saw the emergence of biennial exhibitions: EuroCucina – the International Kitchen Furniture Exhibition which began in

1974; Salone Internazionale del Bagno the International Bathroom Exhibition; Euroluce dedicated to the lighting world, Salone Ufficio – for office design and the small but focused International Furnishing Accessories Exhibition. The Salone Satellite has been running since 1998, connecting the rising stars of design with important players in the Italian production industry. This has proven to be a great success as many renowned designers had their debut at Salone Satellite (it is devoted –as above mentioned- to young designers, the rising stars of design). The show can help a designer go from brilliant but obscure to a household name in the world of furniture design.

Looking toward the futureIt is innovations like these shows and exhibitions which Luti sees as key for the Salone maintaining and growing its importance. “Our challenge for the future is to continue offering our exhibitors the most attractive platform for professional visitors, whether they are designers, architects, buyers or journalists. We have to capitalize on our experience and know-how to maintain leadership and stay a step ahead of the hundreds of other ‘Design Weeks’ that happen all over the world. We are in

a very strong position and need to keep building on that.”

Perhaps in answer to this need to diversify and capitalize, the stands at the Salone have become larger and larger over the years. This year, French architect, Jean Nouvel presented a five-scenario installation

The Salone has become a cultural phenomena, extending beyond the world of furniture and embodying

a standard in Italian creativity

Richard Sapper Alessandro Mendini

Giulio Castelli Gio Ponti

Massimo Vignelli

Ettore Sottsass

Gaetano Pesce

Philippe Starck

Toshiyuki Kita

Gae Aulenti

Richa Castiglioni brothers

Claudio Luti

Kartell booth at Salone 2013


Lifestyle 3

called Project: office for living. The Salone is the perfect place to showcase a new product, regardless of scale. It is also the ideal place to meet, network and really impact the future

of design. The Salone has become a cultural phenomenon, extending beyond the world of furniture and embodying a standard in Italian creativity. The week of the Salone in Milan is a crazy blend of creativity, commerce and activity, involving not just designers, but architects, creatives and also thousands of people otherwise involved, who appreciate the benefit of being involved in something as unique and creative as the Salone. In addition, the city of

No serious actor in the world of furniture design or sale can afford to

miss the Salone del Mobile

معر�ض ميلنو للمفرو�صات

�ملا�صي، �حلا�صر، و �مل�صتقبل

�لذي �لدمار تتعافى من تز�ل �أوروب��ا ل كانت ،1960 عام

�لإقت�صاد ك��ان وبالتايل �لثانية. �لعاملية �حل��رب خلفته

من نف�صها تبني �أوروب��ا بد�أت فيما ببطء ن�صاطه ي�صتعيد

رت �أن يعاد بناوؤها، وبطبيعة جديد وكان ل بد ملدن قد دم

ة �إىل �صناعة �ملفرو�صات �جلديدة. �حلال كانت �حلاجة ملح

يف هذ� �لوقت ز�ر وفد �إيطايل معر�ص للمفرو�صات كان قد

وحينها �أملانيا، يف "Cologne" كولون مدينة يف �أقيم

"Salone del Mobile" ولدت فكرة �صالون ديل موبيل

�أي معر�ص ميالنو للمفرو�صات. وفتح �أول �صالون ديل موبيل

328 هناك وكانت �أي��ل��ول1961. �صهر يف ميالنو يف �أبو�به

�صركة �إيطالية عر�صت �أف�صل �لأثاث �لإيطايل على م�صاحة

11،860 مرت مربع، حيث ز�ر �ملعر�ص حو�يل 12،100 ز�ئر،

800 من هوؤلء قدمو� من �خلارج.

كان �ملعر�ص يف ذلك �حلني يرتكز على عر�ص �ملفرو�صات

تتمتع ت��ز�ل وما متتعت �إيطاليا و�أن �صيما ل �لإيطالية

�ملفرو�صات. و�صناعة ت�صميم حيث من ممتازة ب�صمعة

Giulio" مون �إيطاليون �أمثال جيوليو كا�صتيللي وبرز م�صم

�أولنتي غ��اي و "Gio Ponti" بونتي جيو ،"Castelliتركو� �لذين مني �مل�صم من وغريهم "Gae Aulenti"بعد� و�أك�صبوها �ل�صناعة ه��ذه على ��زة مم��ي ب�صمات

ح�صاريا مرموقا.

بحلول عام 1991، �أ�صبح �صالون �إنرتنا�صيونال ديل موبيل

�أهم من "Salone Internazionale del Mobile"معار�ص �ملفرو�صات �لعاملية، حيث يقام �صنويا يف ني�صان،

فيه وي�صارك كما �لعامل �أقطار كل من ز�ئرين وي�صتقبل

مون عامليون وحمليون. م�صم

معر�ض ميلنو 2013 بن�صخة مميزة

�أطل معر�ص ميالنو للمفرو�صات هذه �ل�صنة بن�صخة مميزة

م حيث �إ�صت�صاف �أكرث من 2،700 �صركة عار�صة، وقد نظ

يف ع�صو وه��ي (Cosmit) ك��وزم��ت �صركة �حل��دث ه��ذ�

�ملجل�ص �لدويل جلمعيات �لت�صميم �ل�صناعي. وقد �صجل

كالوديو قال ما بح�صب لعام لهذ� قيا�صيا رقما �ملعر�ص

(Cosmit) رئي�ص �صركة كوزمت ،"Claudio Luti" لوتي

ورئي�ص �صركة كارتيل (Kartell) �إحدى �أهم و�أجنح �صركات

ملجلة خا�صة مقابلة يف �لعامل، يف �ملفرو�صات ت�صميم

DORCHESTER �أنه ح�صر �ملعر�ص �أكرث من 324،000 ز�ئر، كما وي�صري �ىل �أن �أكرث من 193،000 ز�ئر �أتو� من

�خلارج، هذه �لأرقام تظهر قدرة �ملعر�ص على �لتكيف مع

لوتي و�أ�صاف �ل�صوق، و�إحتياجات �لإقت�صادية �لعو�مل

لالإلتقاء فر�صا ر يوف للمفرو�صات ميالن معر�ص ":�إن حول م��ن �ملفرو�صات وبيع وت�صميم �صناعة ب�صركات

مثايل مكان هو مويبل ديل �صالون �أن �ىل لفتا �لعامل"،

و�جلدير �ملنتجات. يف و�لتميز �لإب��د�ع وم�صاهدة لعر�ص

�صالون هام�ص على يقام ع��ام، بعد ع��ام��ا �أن��ه بالذكر

�لتالية: �ل��دول��ي��ة �مل��ع��ار��ص مويبل دي��ل �إن��رتن��ا��ص��ي��ون��ال

�ص باملطابخ، و�لذي �أوروكوكينا "EuroCucina" �ملخ�ص

بانيو دي��ل �ن��رتن��ا��ص��ي��ون��ال ��ص��ال��ون 1974 ع��ام �إن��ط��ل��ق

�ص "Salone Internazionale del Bagno" �ملخ�صبعامل �ص �ملخ�ص "Euroluce" �أورولو�ص و امات، باحلم

"Salone Ufficio" �أوف��ي��ص��ي��و و��ص��ال��ون �لإ��ص��اءة

�صالون �إىل ب��الإ��ص��اف��ة �مل��ك��ات��ب، بت�صميم �ص �ملخ�ص

�صاتياليت "Salone Satellite" �لذي �إنطلق عام 1998

�مل��ج��ال يفتح �ل��ذي و�لإب��د�ع، بالت�صاميم و�خل��ا��ص

مني �لطالب و�ملبتدئني لالإنطالق يف عامل ت�صميم للم�صم

مي م�صم م��ن �لكثري �أن بالذكر و�جل��دي��ر �ملفرو�صات،

�أوىل �ل��ي��وم، �أ��ص��م��اوؤه��م �لالمعة �لعامليني �مل��ف��رو��ص��ات

خطو�تهم كانت من �صالون �صاتياليت.

و�أ�صار لوتي �ىل �إن �إحدى نقاط �لقوة �لرئي�صية يف �ملعر�ص

�لعاملية. و�ل�صوق �ملنتج بني �ملبا�صر �لتو��صل فر�صة هي

من تعاين �ملحلية �ل�صوق �أن من �لرغم "على : و�أ�صاف

لت�صدير نف�صها م تنظ �أن �ل�صركات �إ�صتطاعت رك��ود،

ويعود دويل. م�صتوى على �ملناف�صة من ن لتتمك منتجاتها

وقت طويل يف هذ� منذ زة �ملتمي �إيطاليا �صمعة �إىل ذلك

�ملجال". وينظر لوتي �إىل �مل�صتقبل باإيجابية مرتكزة على

�ص لنظرة م�صتقبلية جناح �ملا�صي، وجناحات �ملعر�ص توؤ�ص

2015 )معر�ص 2015 عام معر�ص مه �صيقد ملا و�إنتظار

Technology and" و�لإب��د�ع ب��ال��ت��ق��ن��ي��ة خ��ا��ص

من خمتلف بلد يف �صنو�ت 4 كل م ينظ "Innovation�لعامل، و�صوف يقام عام 2015 يف ميالن "Milan"، ويعلق

�لإي��ط��ال��ي��ون �آم��ال��ه��م �ل��ك��ب��رية على ه��ذ� �حل��دث، �ل��ذي

ي�صتقطب �ملاليني من �ل�صياح، و�لذي �صي�صارك فيه حو�يل

130 بلد من خمتلف �أنحاء �لعامل كعار�صني(.

Maurizio GalanteMartin Margiela


4

Milan acts as an exhibition partner, granting access to some of its more prestigious venues for the event’s meetings and exhibitions and ensuring that the city itself becomes a huge and stylish advert for the event.

Further in line with Luti’s ideas, the last few years have seen further innovations: The Saloni Worldwide, in New York and for the last eight years, in Moscow. The latter is a particularly popular event in the Russian capital, attracting almost 500 companies to exhibit the best of furniture, furnishings and fittings from the Milan Salone to over 40,000 visitors, specializing in the classical style which is extremely popular with Russian consumers.

The logo of the fair itself has become a standard in design and advertising. Designed by Massimo Vignelli in 1994, the large, clear red ‘Salone’ speaks for itself. In this, it reflects i Saloni. The Milan furniture event has and will continue to set the standard in design and excellence. In more recent years, themes such as sustainability have become more important and popular

and Claudio Luti looks forward to the World Expo 2015 (This Expo is a huge international show about technology and innovation, hosted every four years in a different city; in 2015 it will be hosted in Milan. Italians have great expectations of this event which usually attracts millions of tourists. The exposition will host about 130 countries from the entire world and its theme in 2015 is 'Feeding the world, energy of life').

“It’s our challenge for the next eighteen months. It’s an amazing opportunity for the show to be able to present the entire system of furniture and design to an audience of millions”. If the Salone’s past achievements are anything to go by, Expo 2015 will be an event to look forward to. Luti says.

• By Dr. Paolo Mastromo, Italy

Design dance at the Salone del Mobile 2012

The exhibition area exceeds 200,000 square metres. The fair has become a centre of excellence

for furniture design


Lifestyle y5

Happening in Town

The 23rd annual Monaco Yacht Show took place from 25-28 of September. The opulence of the setting has

always complemented the illustrious nature of the show and Monaco has long attracted the rich and famous with its pleasant climate, casinos, beaches and excellent restaurants. The city-state has been called the capital of yachts and not merely because of the bank balances of its citizens. A fully-equipped modern harbour and the prestigious and active Yacht Club de Monaco make Monaco a natural choice for an annual yacht show. Though the financial crisis has made even yacht owners tighten their belts, the 2013 Monaco Yacht Show was evidence of a return to business, though not on the scale of 2007. Under the high patronage of HSH Prince Albert II of Monaco, the 2013 show was a step in a new direction. Though still extravagant and lavish, with champagne, on-board receptions and sumptuous events, the show was defined by new trends and environmental and socially responsible concerns.

The business of yacht building and yacht owning has a long and illustrious history and has always been exclusively in the realm of the super rich. The pros and cons of being such an international industry are myriad, among them the difficulty of remaining competitive in a global recession. But when one can combine German engineering with English design and Italian finishing, the benefits

seem to outweigh the disadvantages. In the current economic climate, some trends can be detected which though they are still above most people’s budget, demonstrate that the spending frenzy of 2007 is over and buyers are more discerning and choosy.

Adding to the value of the show this year and crystallizing industry thinking, the first Monaco Yacht Summit was held on September 24. The theme under discussion was ‘New Yachting, New Thinking’. Huge numbers of industry experts gathered in the Grimaldi Forum, covering three main topics under the umbrella motto: 1) lessons to be learned from the crisis, 2) customer expectations in super yachting, technology

Yach

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13M

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1

and design and 3) opportunities to be developed on in the future of yachts. This summit was in addition to the hundreds of events organised in and around the harbour, in the hotels of Monaco and in the stands. The sheer number of charity auctions, prize givings, lunches, gala dinners and cocktail parties gave exhibitors and guests ample opportunities to network and enjoy themselves in the opulent and welcoming surroundings.

Though the show has advanced and progressed, there was still plenty of good old-fashioned glamour and displays of opulence were everywhere. Along with the glamorous events and parties, the stars of the show, the yachts, remained the main attraction. At 88 metres, the Quattroelle, was the largest yacht at the show, built by the Lürssen yard and one of the most spectacular sights in the harbour. Italian yard CRN was represented by the 80 metre


2

Monaco Yacht Show2013

Chopi Chopi and the technologically advanced J’Ade. Holland was also well represented with the Moonen yard showcasing the 42-metre Sofia and the Amels yard bringing Event.

The show is now focused on the future, bringing a more honed and realistic vision of the industry to its major players. And with 15 new bVerths planned for 2014, Monaco continues to provide the perfect backdrop to the event.


3 Happening in Town y

Interdesign Bldg.95 Rome StreetWardieh Square-Beirut, LebanonPhone: (+961) 1 - 360 300Fax: (+961) 1 - 360 [email protected]

Jeddah-Saudi ArabiaTel: +966 12 284 0792

Interdesign offers a full line of custom designed furniture both for home and

commercial spaces. In addition we provide turn-key solutions for outfitting entire

buildings which can include providing custom built-in furniture, loose furniture, as well

as mechanical, electrical and plumbing installation.

Upcoming Events

17-21 November 2013

Dubai World Central, UAE.Dubai Airshow 2013

Nov

.

www.dubaiairshow.aero

25-28 November 2013

International Building & Construction Show.

Dubai World Trade Center.

The Big 5 Dubai

Nov

.

www.thebig5.ae

18-23 November 2013

The Kuwait International Property Show is an international real estate fair. It offers its visitors the unique opportunity to meet leading developers of real estate projects and other professionals from the industry to forge partnerships and to learn about the latest trends in international real estate markets.

Kuwait International Fairs Ground, Mishref Hall 8

Kuwait International Property Show

Nov

.

www.kips-kw.com

12-14 November 2013

Jeddah Centre for Forums & Events, Jeddah,Saudi ArabiaINDEX KSA Exhibition

Nov

.

www.indexksa.com

20-22 November, 2013

Greenbuild

Nov

.

www.greenbuildexpo.org

Greenbuild 2013 is the world's largest international green building conference and expo, hosted by the US Green Building Council.

Philadelphia, United States

19-20 November 2013

The Service Design Global Conference (SDNC13) is where leading practitioners, businesses and academics present the latest thinking in the field of service design

Cardiff, United Kingdom

Service Design Global Conference

Nov

.

www.sdnc13.com

29 Nov. - 02 Dec. 2013

The business of designSaudi Arabia's leading international furniture and interior design event.

Jeddah Centre for Forums & Events, Saudi Arabia

Decofair 2013

Nov

.

www.decofair.com


Events’ Calendar 1

www.adeemcapital.com

Innovative Sharia-compliantInvestment Banking

RiyadhAl-Faisaliah Tower, +966 1 12730799

JeddahJameel Square, +966 1 22385004

18-26 January 2014

The world's largest yacht and water sports fair ended with 226,300 visitors / de-spite ice, snow and strikes: Good business and satisfied exhibitors / German boats and water sports market comes appears stable and full of life.

Düsseldorf.

Boot Düsseldorf 2014

Jan.

www.boat-duesseldorf.com

10-12 December 2013

Riyadh Urban Development and Real Estate Investment Event.

Riyadh Exhibition Centre, Saudi Arabia

Cityscape Riyadh

Dec

.

www.cityscaperiyadh.com

28-30 January 2014

The Region's Biggest Exhibition for Sustainable Solutions in the Built Environment.

Doha Exhibitions Centre, Qatar.

Green Building Expo 2014

Jan.

www.greenbuildingexpo.org

15 – 18 December 2013

JITF has provided global companies with an annual platform to showcase their products and services to Saudi traders and entrepreneurs. Since its launch, many of the goods now commonly on sale in the marketplace were first seen at JITF.

Jeddah Center for Forums & Events - Saudi Arabia

Jeddah International Trade Fair

Dec

.

www.jitf-arabia.com

04 –12 January 2014

London Boat Show, the place to see thousands of boats, brands, products and suppliers offering you everything you need to get active, get onboard and get informed!

ExCel - London

London Boat ShowEurope's First Boat Show

Jan.

www.londonboatshow.com

24 – 28 December 2013

SIMS is a one-stop-shop with the latest car models and best accessory supplies on display complemented by major banks participating to help finance purchases.

Jeddah Center for Forums & Events - Saudi Arabia

Saudi International Motor Show

Dec

.

www.sims-arabia.com

01–03 December 2013

The Saudi Water & Power Forum (SWPF) is renowned for uniting Saudi and global stakeholders to debate policies and strategies which determine the future of the power and water sectors in the Kingdom.

Jeddah Hilton - Saudi Arabia

Saudi Water & Power Forum

Dec

.

www.ksawpf.com


Events’ Calendar y2

11 Weygand Street . Downtown BeirutTel. 01 984 999

DORCHESTER Magazine Issue-3

Documents

Transcript of DORCHESTER Magazine Issue-3