The $500 million firm commits to deliver superior satellite service packages for media and telecom users in the region
SmartSat, a USD 500 million joint venture and the region's first private Arab company specialised in the satellite industry, has revealed that it aims to help accelerate the MENA region's transformation into a major global market for satellite broadcast by offering a superior range of services that target the rapidly increasing number of media, telecom and internet providers in the region.
SmartSat - which recently launched a groundbreaking project that will send into orbit the Arab World's first private satellite - considers the MENA a highly dynamic emerging satellite market as regional demand for transponder has risen 12 percent annually in the last five years according to a study by Euroconsult and the London Satellite Exchange. The study also shows that commercial satellite-lease revenues have reached USD 752 million in 2007, representing an average growth of 17 percent annually since 2003.
Khaled Derbas, Chairman and Managing Director, SmartSat, said, "The MENA region offers unlimited growth potential for the satellite industry as a rapidly growing number of companies in the region such as internet service providers, GSM providers, broadband technology solutions providers and television stations are now taking full advantage of the groundbreaking capabilities being delivered by satellite technology. Furthermore, being a private company, SmartSat enjoys greater flexibility in offering various innovative service packages, which enables us to address more specific client requirements and subsequently benefit a vast majority of consumers in the region."
A significant growth indicator in the MENA satellite market is the increasing adoption of high-technology appliances and applications such as High Definition Television (HDTV), which has a direct impact on the growth of satellite-carried HDTV channels in the region. Moreover, the Euroconsult and the London Satellite Exchange study also concluded that nearly 100 per cent of satellite transponders in the region are being used, revealing a steady upward trend in the satellite market.
SmartSat is a UAE-based firm created by a joint venture between Smartlink, the Jordanian private shareholding company that operates as a global broadband satellite services provider in the Middle East, North Africa and Eastern Europe regions with offices in Jordan and the UAE; and Al Jawhara Holding, a leading Kuwaiti investment holding company that serves as SmartSat's financial manager. The company's new satellite, which will be sent to orbit in 2011, is now in the design stage while two of the world's top 10 global satellite manufacturers have already been short listed for the project.
Leveraging the new satellite's state-of-the-art mobile communications systems, SmartSat will enable clients to tailor broadband packages that satisfy specific market segment demands and subsequently optimise revenue potential. With the satellite's powerful signals and two-way links, SmartSat can also support the MENA's satellite broadcasters, home satellite providers, news organisations, satellite conference centres and other content providers with regular programming or on-demand requirements, enabling high-definition viewing at home or for live, in-studio broadcasts. Another strategic advantage of SmartSat, being a private entity, is its ability to offer a broader price range that is a lot more competitive and delivers greater product value.
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© Press Release 2009
