Insights on site

May 2010 — Economics, a system of rules that applies across national and industry borders, opened the world to Natalia Bakhlina, who now works out of AECOM's London office.

For the Musannah Development in Oman, AECOM was contracted to assess potential development opportunities on a 19.3-hecatre (48-acre) site along the coast 100 km (62 mi) west of the capital city Muscat. The aim was to determine an optimal development program for the site by applying a market-driven approach. "We spent a week on the ground to view the site and interview local government, real estate agents and hotel GMs," says Natalia. "We conducted an in-depth assessment of market conditions and future development potential for Oman and the wider area around the study site. The primary land uses under consideration included hospitality, residential, retail and commercial."

The Borovoye Resort and Casino, a proposed resort in rural northern Kazakhstan, required a comprehensive feasibility study. AECOM was hired to assess the potential for development of a large-scale destination resort with hotels, residential real estate, casino, retail, entertainment and multiple resort amenity components to comprise over 600,000 sq m of total built area.

"We spent two weeks in Kazakhstan viewing the site and surrounding areas, and conducted extensive research in the administrative capital city of Astana and commercial capital of Almaty," recalls Natalia. "We were able to assess the market potential, determine the project's viability, and recommend a suitable development program."

Natalia expects to see increasing development projects in countries such as Egypt, India, Russia, Kazakhstan, Ukraine and Poland. She also sees potential for greater activity in the attraction industry worldwide. She explains, "By visiting proposed development sites, including those in remote locations, we are able to conduct a thorough analysis of the complex factors that determine the economic feasibility of various uses in specific locations. Plotting the proper course for these developments and maximizing return on investment is our foremost goal."

Natalia.Bakhlina@aecom.com