5 posts tagged milestones

Today, a little bit after 3 years of being founded, Monaqasat.com has officially crossed the USD 10 billion milestone of processed bids! We are extremely honored to have been chosen by over 700 companies in the Middle East to assist them in streamlining their tendering process and look forward to the next 10 billion.

2012 will be an even bigger year for Monaqasat.com. Stayed tuned for more.

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.

DAMASCUS, SYRIA - March 28, 2011 - Monaqasat.com, the leading online tender process management provider in the Middle East, today was named winner of the Arab GoldenChip Award (AGCA) for Best Web 2.0 Solution at the official Award Ceremony that took place at the AGCA 2011 Dinner in Damascus, Syria. The competition awards outstanding people working in the field of ICT in Middle East and North Africa service companies. There were 18 nominees and each of them had 30 minutes meeting with the jury, composed of eminent people working in ICT field in the Area.

Monaqast.com has attracted over 620 companies to use its platform. These are the most important construction – related companies in the UAE such as ADCE (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, Dhafra Intl Projects, Dhafir Development & Contracting LLC, Group 3, Q Construction LLC and Al Mezin General Contracting. So far it has processed over USD 4.9B worth of bids and saved over 4.5 million pages of paper in less than 2 years of operation.

The (AGCA) 2011 is part of MENA ICT Week 2011, a five day event, March 25 – 29, taking place in Damascus, Syria, under the Auspices of Prime Minister H.E Muhammad Naji al-Otari, the Syrian Computer Society (SCS) and The Arab ICT Organization (IJMA3). This event is considered to be the most prominent event in the ICT sector in the Arab world. Its main objective is to promote excellence and innovation in the Arab ICT sector and encourage Arabic digital content and online applications and e-business resulting in increased export of Arab ICT Products to the world. The nominees were divided in two groups. The first 12 nominees presented their innovative applications, solutions, or projects on March 27, while the rest continued today when Monaqast was named as the winner of the competition. The award put emphasis on the great achievements through recognizing leading figures driving ICT change and innovation around the region and the nominees’ countries.

About Monaqasat Monaqasat was founded in 2009 and is an online tender management solution that has been developed with the sole goal of making the tender process easier, more secure and more transparent. The system enables project owners and bidders, from developers, builders and contractors to architects and engineers to manage the entire tender process online. More about Monaqasat can be found at www.buildhuman.com.

BEIRUT, LEBANON - March 24, 2011 - Monaqasat.com, the leading eTendering provider in the Middle East, today was named 2nd place winner of the ArabNet Startup Demo Competition 2011 out of the 10 finalists. The competition supports early-stage start-ups from across the region and helps them grow their businesses. The final decision was made by panel of business personalities.

There were 10 finalists and each of them had 5 minutes on stage product presentation with the main focus on emphasizing product’s strong market potential, effective business model and potential socioeconomic impact.

Monaqast.com has attracted over 620 companies to use its platform, including some of most important construction-related companies in the UAE such as ADCE (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, Dhafra Intl Projects, Dhafir Development & Contracting LLC, Group 3, Q Construction LLC and Al Mezin General Contracting. So far it has processed over USD 4.9B worth of bids and saved over 4.5 million pages of paper in less than 2 years of operation.

The ArabNet 2011 Startup Competition is part of the the ArabNet Shift Digital Summit 2011, a four day event, March 22 – 25, taking place in Beirut, Lebanon, under the Patronage of H.E. General Michel Suleiman, President of Lebanon and in collaboration with the Central Bank of Lebanon. The startups that participated in the competition had a working product, a customer base and revenue stream, and were looking for taking their companies to a new level, through funding, exposure, or strategic partnership. This is a great opportunity for all of them to network with investors and media and build relationships they need to help them grow since they are given exhibition spaces during the conference.

About Monaqasat
Monaqasat.com was officially launched in 2009 in the UAE and is an end-to-end eTendering solution that has been developed with the sole goal of making the tender process easier, more secure and more transparent for all its users. The system enables project owners, consultants, project managers and bidders to manage the entire tender process online. More about Monaqasat.com can be found at www.buildhuman.com.

ABU DHABI, UAE — June 7, 2010 — Monaqasat.com, the leading online tender process management provider in the Middle East today announced that more than AED 1 billion of project tenders have been managed and awarded through the provider’s online platform.

The company’s rapid growth can be attributed to the system’s ability to save developers and other bid owners manpower and operating costs, by bringing about significant efficiencies.

During a time when the construction industry, particularly in the UAE, has witnessed a significant slow-down, the rapid take up of Monaqasat’s services indicates the appetite from project owners for systems that can help cut operating costs and significantly reduce the time needed to take tenders from announcement to award.

The need for transparency and maintaining a clear audit trail is greater than ever as organizations are under increasing pressure to eliminate irregularities in the procurement process.

In just a year since the company launched in 2009, Monaqasat.com has attracted more than 500 companies to use the platform, and expects both the number of organizations using the service and the value of projects being tendered to grow exponentially in 2010. Companies using the system include banks, consultants and contractors such as ADCE (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, Dhafra Intl Projects, Dhafir Development & Contracting LLC, Group 3, Q Construction LLC and Al Mezin General Contracting.

Monaqasat provides an online platform for the management of tenders. The system was developed with the sole goal of making the tender process easier, more secure and more transparent. The system enables project owners, documenters, verifiers, auditors and bidders, from developers, builders and contractors to architects and engineers to manage the entire tender process efficiently and more effectively.

Karim Helal, managing partner, commented, “We are delighted with the strong reception from the market, it reflects our vision and belief in the need for such a solution. Companies in the construction industry in particular have suffered as a result of the financial crisis, and we are able to help them save time and money, simply by providing a centralized platform from which the customer can manage all of their tenders.”

According to Dubai Municipality, despite the economic crisis, more than 2,500 buildings were completed in 2009, representing a collective value of AED 24.9 billion.

A Monaqasat client, Charles Saleh, Manager of the Tendering Department at Dhafir Development & Contracting LLC, said, “I am pleased, although not surprised that the uptake of the Monaqasat system has been so strong and rapid. The benefits it delivers are many and immediate. It has given us improved visibility and control over documents and indeed the whole process.”

The Monaqasat.com system allows project owners to manage the creation of tender specifications, control revision of documentation, invite participants, call for submissions, and finally award the tender. All parties have the ability to track the status of the bid at any time.