“The Middle East and Africa region are growing at a phenomenal rate. Projections are that the market will cross the $12 billion mark by 2011,” International Data Corporation (IDC) Vice President & Regional Director for Middle East and Africa Jyoti Lalchandani, told the Gulf News.
Mr Lalchandani said 40 per cent of IT budgets in the region are going to be allocated towards new initiatives such as supply chain management, business management or consolidation of infrastructure.
He, however, warned that shortage of skills could affect the growth of IT in the region. “The region is currently facing a shortage of skills in several areas such as networking, application and implementation, which is quite predominant in other parts of the world as well,” he said.
Realty projects
Limitless, real estate development arm of Dubai World, the holding company of Dubai government, has unveiled details of its $12-billion Al Wasl project in Saudi Arabia.
The master plan includes 55,000 homes for 200,000 people, offices, hotels, mosques, health and educational facilities, shopping malls, sports amenities and over 300 hectares of green, open space.
The United Arab Emirates’ (UAE) leading real estate developer Emaar has entered into a joint venture with Indonesia’s Bali Tourism Development Corporation (BTDC) for a $600-million mega-tourism and mixed-use project.