Sales prices in Dubai are expected to continue to soften for the remainder of the year, by up to 5% in some instances, while rental rate declines appear to be slowing with decreases of just 1% witnessed in Q3 according to the latest research from leading international real estate services firm, Chestertons’ Observer: Dubai Market Report Q3 2019. Continued pressure on Dubai’s residential prices and rates has been a result of oversupply, with an anticipated 50,000 new units expected to be delivered in 2019, a 150% increase on 2018 where supply topped just 20,000 residential units. Nick Witty, Managing Director,…
Author: Kasun Illankoon
MAG Lifestyle Development, the real estate development arm of MAG Group Holding, announced the completion of its AED 800-million MAG 5 Boulevard, the value-housing project in Dubai South. The development, which was one of the first projects to be launched in the area, is now also among the first to be completed, well before its anticipated schedule, and in time for Expo 2020 and considered the biggest handover of units in the area to support the vision of Expo 2020 and government od Dubai. Talal Moafaq Al Gaddah, Managing Partner and CEO of MAG Lifestyle Development, commented: “Under our ‘MAG…
Sarika Singh, Head of Group Internal Controls of EFS Facilities Services Group, gives us an insight into the crucial role an internal auditor plays during a business transformation “Auditor” the word comes from the anglo French’ auditour’- A listener. It’s surprising how ‘auditor’ a word that started as something so desirable, has come to evoke fear and dread, which raises the anxiety level for management team people. There is a general tendency for people to see internal auditors as cold and impersonal, however, breaking down this stereotype is so important now, that most of the organizations are actively encouraging a culture…
The newest innovations in road and transport technology, as well as developing an inclusive road transport network for the people of determination, were among the key topics addressed as discussions between global experts and business leaders continued at the 26th World Road Congress Abu Dhabi 2019. A wide range of professionals and experts offered their expertise in more than 15 sessions that explored ways on how to enhance the integrated infrastructure and prepare for the future challenges on the third day of the Congress which is taking place for the first time in the Middle East. FIRST CONGRESS SESSION DEDICATED…
DAMAC has announced the early completion of the final floor slab of the North tower of its premier London project, DAMAC Tower Nine Elms. The core and floor slabs of the South Tower were also completed in August 2019. Commenting on the progress, Senior Vice President at DAMAC Properties, Niall McLoughlin, said, “Being our premier development in London, and the first in Europe to be designed in partnership with the legendary Italian fashion house, Versace Home, DAMAC Tower Nine Elms has been a very exciting project for us. The premium development was designed to provide a new level of luxury…
On the sidelines of GITEX 2019, Dubai Municipality signed a Memorandum of Understanding (MoU) with Emirates Transport to cooperate in the field of Geospatial Infrastructure (Geo-Dubai). The GIS center in the Municipality is the sole official source for collecting digital and descriptive geographical and detailed data and information for the emirate from different local departments, public authorities and institutions, persons and companies operating in the Emirate of Dubai. The agreement was signed by Eng. Mariam Obaid Al Muhairi, Director of the GIS Center and Mohammed AbdulRahim Baramah, Director of Information Systems, Emirates Transport. Emirates Transport is a federal government institution,…
Abu Dhabi General Administration of Customs has signed an agreement with the Abu Dhabi based digital transformation service provider, Injazat, to be responsible for mission-critical IT infrastructure of the Abu Dhabi Customs. Signage took place during GITEX Technology Week 2019. Under the agreement, Injazat is committed to delivering Data Center services of the highest standards and provide a secure and reliable environment for AD Custom’s mission-critical IT infrastructure and systems through its Tier IV Data Center, the first certified commercially available facility of its kind in the region. The new contract will be another major win for the company that…
FedEx Express, the world’s largest express transportation company and SAB Express, a FedEx global service provider in the Kingdom, participated in the 2019 Global Health Exhibition on September 10 to 12, showcasing healthcare solutions offered in the Saudi market. Under the patronage of the Saudi Ministry of Health, the exhibition offered a great platform for companies to promote their latest innovations and solutions in the healthcare sector. SAB Express took this opportunity to share the FedEx Express portfolio of healthcare solutions, catering to the specific shipping needs of the healthcare industry, which includes cold chain logistics and distribution, specialized international…
Arada, Sharjah-based master developer co-founded by Chairman HE Sheikh Sultan bin Ahmed Al Qasimi and Vice Chairman HRH Prince Khaled bin Alwaleed bin Talal Al Saud, was one of the largest stands at this year’s Cityscape Global staged at the Dubai World Trade Centre. CBNME sat down with the company’s Chief Executive Officer, Ahmed Alkhoshaibi, to discuss the construction progress being made across Arada’s two communities, property sales, sustainability, and the value of real estate in the UAE. What is the current status of Aljada and how much has been completed so far? We began construction on Aljada last year,…
Rockwell Automation, the world’s largest company dedicated to industrial automation and information, has announced the appointment of Sebastien Grau as regional sales director for the Middle East, Turkey and Sub Saharan Africa. Welcoming Sebastien to his new role, Rockwell Automation EMEA president Susana Gonzalez said: “We are excited that Sebastien has joined our team and will help us further align and connect even more across our key markets of the Middle East, Turkey and Sub Saharan Africa.” “Sebastien has a proven track record of business achievements in some very challenging operational and sales environments,” she said. “As we…