Abu Dhabi, UAE - April 16th, 2011 - Monaqasat.com, the leading online tender process management provider in the Middle East and North Africa, announced today that it had crossed US$5 billion worth of bids being processed on its website, with real estate bids accounting for the major part of the tenders being processed.
Monaqasat.com’s milestone signals a steady recovery in the Middle East’s real estate sector and highlights the growing popularity of the Internet among developers and consultants who seek to manage their projects with maximum efficiency, cost control and transparency. By allowing companies to bid and transact online, the online solution has helped to save over 4.5 million pages of paper.
“Since our establishment less than two years ago, more than 480 tenders representing a range of industry sectors have been floated on the portal and the response from bidders has been fantastic,” said Karim Helal, General Manager of Monaqasat.com. “This just goes to show that bidders in the MENA region are now looking beyond traditional means of approaching project partners and reaching out to providers in other countries too.”
Currently, over 630 companies use the Monaqasat.com e-tender platform, including important construction players such as Abu Dhabi Construction Engineering (the engineering branch of ADCB), KEO, ACG, Helal & Partners, Syrconsult, Heberger Engineering, Dar Al Omran Abu Dhabi Architectural Engineering Consultancy and Al Meedan, Al Fara’a Properties, Dhafra Intl Projects, Dhafir Development & Contracting, Group 3, Q Construction and Al Mezin General Contracting.
With this popularity, Monaqasat.com has emerged as one of the largest online B2B marketplace in the Middle East, connecting global buyers with suppliers. Using its easy-to-use interface, companies can save approximately Dhs25,000 per tender. In order to meet the growing demand for its services and to further increase its penetration in the MENA region, Monaqasat.com will open its own regional offices soon in Saudi Arabia, Qatar, Egypt and Lebanon. Last month, it was named winner of the Arab Golden Chip Award (AGCA) for Best Web 2.0 Solution in Damascus, Syria, recognising its outstanding contribution in the field of ICT. Monaqasat.com also came in second at the ArabNet Start-Up Competition held in Lebanon recently.
Monaqasat.com provides a complete, end-to-end solution allowing all tender participants to collaborate in one central e-Tendering platform. Once a company subscribes to the system, it can create tenders and also collaborate as documenters in other company’s tenders or bids.