In a significant indicator of the rising interest of multinationals in the real estate sector of the region, Singapore-based BPL Engineering & Construction Pte Ltd (BPL) today signed a MoU with the Bahrain-based Bonyan International, to jointly offer project management services in MENA countries.
While Bonyan International is focused on project management, project concept design, real estate consulting, and real estate & infrastructure development, the services of BPL, one of South East Asia's leading foundation and civil engineering contractors, include project management, foundation work for real estate & infrastructure projects and general construction.
Commenting on the partnership, Engineer. Imad O. Nesnas, Chairman & CEO, Bonyan International, said: 'This partnership is significant because it highlights the increasing economic relationship between Singapore and the Middle East and also the interest of global companies in the real estate sector of the GCC including the largest market, the UAE.'
'In a very short span of time, Bonyan International has succeeded in establishing a presence across the exponentially growing Middle East real estate and infrastructure development market and the partnership will further add value to our offers. We are involved in some of the largest projects in the region and have been able to do this because of our continued focus on offering our clients with best-of-class systems, products and services,' he said.
Eng. Nesnas said that Bonyan was confident that collectively, with the company's regional domain expertise and BPL's vast global experience in large-scale infrastructure projects, the partnership would be able to optimally capitalize on the exponentially growing opportunities in the MENA market for large-scale projects.
'We are confident that the partnership will help us expand our reach and expertise further, significantly enhancing our market share in the region's real estate and infrastructure development sector,' he added.
Bonyan is headquartered in Bahrain and has offices in Lebanon and Morocco. The company is actively involved in projects in Bahrain, Lebanon, Morocco, Jordan and Qatar, including the prestigious US$600 million Beirut Gate and a leading School project in Bahrain.
Commenting on BPL's decision to enter the Middle East through the partnership, Mr. Ivan Chew, Executive Director, BPL, said: 'The MoU in comes as part of our decision to expand into newer markets across the world and Middle East is a dynamic place to be in with the boom in the realty sector. We have successfully established ourselves as a leading E&C company in Singapore and South East Asia and our strategic move into the MENA region would complement our overall growth strategy.'
'Our entry into the Middle East, one of the fastest growing global markets with approximately US$ 300 billion in confirmed real estate and infrastructure developments, through our MOU with Bonyan International, is a logical extension of this strategy,' he said.
Established in 1971, BPL is an ISO 9002-2000 certified foundation and civil engineering major in South East Asia. BPL is currently involved in and has successfully executed a wide range of foundation, civil engineering and building projects in Singapore, Indonesia, Malaysia, Philippines and Hong Kong. Some of its key projects include, amongst others, the Changi International Airport, Singapore's Mass Rapid Transport network, MacRitchie Viaduet, Jalan Bahar Interchange, Container Terminal at Pasir Panjang, Changi Naval base, Metro Manila Skyway.