Monday, 24 October 2016

Dubai’s First Avenue Mall and Hotel on Track to Open Soon

In motor city, Dubai, a new shopping mall and hotel is ready to open early in the coming year as part of the investment worth DH 500 million which will drive tremendous growth in the city’s most sought suburban quarters. First Avenue will have 70 high street retailers and 15 casual restaurants for dining, situated a t the edge of Dubai Autodrome. The four-star hotel of 150 rooms adjacent to the mall will have its operations monitored by Park Inn by Radisson.

The race track at Dubai Autodrome is overlooked by the hotel. It will be a social and retail hub for the union properties build by Motor city, with a unique lifestyle and automotive theme. The two storey building stretches across 5 lac sq/ft with a km roadway linking at each end. It is owned and build by the Saudi’s Al Tawfeeq for development and Investment (ATDI) and is going to launch in the first quarter of next year.
Picture Courtesy: emirates247
First Avenue is the fastest developing suburban area of Dubai, nearby Sports City, Al Barari, Silicon OasisArabian Ranches, Mudon, Nshama, Dubai Production City and Studio City.
The expo site 2020 and Maktoum International Airport is a short drive away from it, also the site is rich in amenities like swimming pools, schools and parks. First Avenue is designed to be environment-friendly, European-style mall, with an indoor as well as outdoor boulevard with arabesque influences.
The footfalls is expected from largely dense catchment area with the restaurants, shops, healthcare services and a hotel attracting customers around different market segments like families, business people or tourists. The communities can get all the amenities they require at the First Avenue thereby making it a top destination all week round rather than only a place to go to during weekends. It will also have a children’s play area with an underground park with 400 spaces.
The Park Inn will be having an all-day restaurant, lobby, meetings & events space, gym, spa and swimming pool and can be accessed from anywhere directly from the mall.
The Dubai Autodrome remains open throughout the year offering indoor and outdoor karting and racing experience, it also has a world class motor sport facility with national & international races & suits for corporate hospitality.
Picture Courtesy: emirates247
The General Manager (GM) of ATDI says that First Avenue is an exciting project whose attraction for the tourists, business people & families is same as it is for the sports, racing and racing enthusiasts. Another concerned authority said that the project is distinct because of the excitement of the race track plus the added touch of contemporary style shopping along with the hotel experience.
By the time 2020 will hit, the population of Dubai will expected to rise up to 2.8 million with an average growth rate of 3.8%.  Most of this growth will be because of the expatriates who comprise around 90% of the population.
Around 1/3rd of the population of UAE is in between 25 & 34 having a strong spending power. By 2020, the government wants 20 million tourists to visit Dubai with the hotels ready to provide them the hospitality infrastructure. By 2020, Dubai’s retail market is expected to witness an exceeding $52 billion in sales with an average annual rise of 8% and more as per the Dubai Chamber of Commerce & Industry.
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Monday, 17 October 2016

World Green Economy Organization Initiated By Mohammed Bin Rashid

Organizers of UAE’s first world green economy organization, launched on October 5th, 2016, say that it will start a culture of green economy in the country, the region and also around the world. This Dubai based organization is started by Sheikh Mohammed Bin Rashid Al Maktoum, who is also the vice president and PM of Dubai. In the field of green economy, it will provide financial, moral and technical support and it also aims to be a primary reference for green sector entities doing research associated with clean energy, human protection and the environment.

WEGO has been formed through initiative and support of Dubai government partnered by United Nations Development Programme. The PM has stated that WEGO will be supported by several countries and global organizations. It will turn out to be impressive for membership applying. According to UNDP, UAE has set an example for other nations, also that leadership like this is needed in every country.

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The ministry of Climate change & Environment is working to achieve 27% renewable energy level by 2021 to meet UAE’s commitment to Paris Agreement. This formation is a crucial step to reach UN’s sustainable Development Goals 2030. Making sure of a global cooperative effort, is the key to facilitate the change to a green economy.

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The vice chairman of Dubai supreme council of energy & CEO of Dubai Electricity & Water Authority (DEWA) praised Sheikh Mohammed for the creation of green economy organization for providing the vision to help thus enhancing Dubai’s position as the global capital of the green economy.
The summit addressed the UAE’s commitment to the Paris Agreement to restrict the increase in global temperatures to 1.5 degree Celsius, under the theme “Driving the Global Green Economy.
2016 summit theme is ‘Driving Global Green Economy’ to promote Dubai’s top position as a universal capital of green economy and an example to follow in achieving high yardsticks of energy efficiency and development of the renewable energy share for the greater good of all nations of the world, and to keep in line with the best global sustainable practices.
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Dubai Declaration delivered in the first green economy summit in last year to help promote its place as a global capital of green economy and sustainable development. Dubai continues to work on the same to raise key issues like clean energy.
The large audience was told that efforts are under way by initiatives such as the Solar Park to meet the Dubai Clean Energy Strategy 2050 which demands Dubai’s 7% energy from clean sources by the year 2020, 25% by 2030 and 75% by 2050.
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International Renewable Energy Agency’s director General Adnan Z Amin said the world welcomes strong & dedicated green plans such as those advanced by Dubai will meet the rising demand for energy in the years to come, globally.
In this trend, UAE has been a pioneer, noting that Dubai has been recorded for lowest-priced solar energy production hour the year 2016, per kilowatt which is helping to discourage future use of fossil fuels.
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Friday, 14 October 2016

Private Jet Business Flourishes in Dubai

Private Jet Charter, which is independent, its Brokers and Consultants are providing access to over 50,000 aircraft’s. It is said that the aviation business privately is experiencing development and high amount of increase in UAE in general and Dubai in particular which has driven by a multiple number of factors.

The factors favorable include hasty recovery of economics capped with unrest in some parts of the region, thereby generating higher demand for the chartered flights back and forth from UAE.
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Dubai is well positioned to experience a rise in visitors and private jet business because of the disturbances created in other parts of the region according to the chief executive and founder of Private Jet Charter, Hugh Courtenay. He added that the growth in other parts of the Middle East has outdone by the strong performance of the private jet business in Dubai because of the Emirate’s incorporation as a holiday destination.
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The ambiguity and uncertainty in some parts of the country of Middle East has spurred the tourists to cancel their bookings of travel to these destinations which attracted more than 25 million visitors previous year.
Dubai can cover around 5 million of these 25 million tourists that can automatically boost the private jet business, according to Courtenay. Most of their clients are high net worth individuals with well off families that look Dubai as a preferable destination, especially when considering the ambiguity in some parts of the regions.
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Well off holiday makers look forward for the convenience and time savings in the jet services. The bookings from UAE’s wealthy business people and CEO’s and clients involving royal families have emerged as a choice destination for spending the summer vacations.
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10 Million Bulbs To Be Replaced By The Dubai Lamp

The officials of Dubai on 5th October 2016 revealed that the world’s energy efficient, also available commercially LED lamp is launched and named after Dubai.
Around 10 million conventional lamps of the buildings is going to be replaced with the Dubai Lamp by 2021 which would mean that 90% of the energy used for lighting and 6,40,000 tons of carbon emission will be reduced by then, according to the plan of emirates.

This Lamp was revealed at the ongoing (Wetex, 2016) Water, Energy, Technology and Environment Exhibition on 5th October. It is the initiative jointly taken by the Philips Lighting and Dubai Municipality and is a family of 8 LED lamps. The Director-General of Dubai Municipality Hussain Nasser Lootah and President of Philips Lighting Paolo Cervini disclosed the product.
According to the officials, it is a result of a research partnership among two organization resulted in the developing of world’s 1st commercially available LED lamp with the ability to produce 200 lumen per watt.
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The households and enterprises reduce the energy consumed to about 90% by replacing the conventional bulbs to Dubai Lamp. It is also quite durable apart from high light and energy efficiency having an average lifespan of 15 times long than that of conventional lamps.
The Dubai Lamp is available in multiple shapes and colors and before the end of the year, 4 versions including cool daylight and warm white color will also available.
Through these versions, the Dubai Lamp will replace 80% of normal lamps used in homes of Dubai. Dubai Municipality and Philips Lighting are getting braced for the supply of 2 million Lamps for residential and commercial use over the city in the coming next year. This can be raised to 10 million lamps by 2021, according to the officials.
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This would result into minimization of almost 640,000 tons of carbon emission. The idea is to save the usage of 1000 gig watt per year. The lamps will be more costly than the ones already in the market. But the energy efficiency, performance, and long durability will provide consumers better deal and benefits.
The Dubai Lamp Initiative focuses on to raise awareness of public for the need for energy saving and also for elimination of carbon emissions. This also supports the Dubai Integrated Energy Strategy which aims a 30 per cent minimization in energy consumption by 2030 and the Dubai Carbon Abatement Strategy targets reducing carbon emissions by 16 per cent by the year 2021.
The CEO of Philips Lighting says that this objective and result-driven partnership with Dubai Municipality is a top instance of how a public-private partnership organization can deliver innovation which is practical and cost-effective both for consumer and professional markets while fighting with the issue of climate change.
Bright facts-
  • The Dubai Lamp is a cluster of 8 LED lamps
  • Can replace conventional lamps in cool daylight and also in warm white colors
  • 3W MR16 Spot to replace 50W halogen spot
  • 1W Candle Lamp can replace 25W conventional lamp
  • 2W Bulb to replace 40W incandescent lamp
  • 3W Bulb to replace 60W incandescent lamp
  • The lifespan of a Dubai Lamp is 15 years based on usage of 1,000 hours per year

The ‘Ultimate Guarantee’ In Dubai From Real Estate Developers

A few designers in Dubai are giving 100 for each penny development ensures, which is “a definitive assurance” that any engineer can give, Real Estate Regulatory Agency Chief Executive Officer told Emirates 24|7.
“There are designers who have given 100 for every penny development assurance and this is a definitive certification,” said Marwan receptacle Ghalita without giving names of the engineers.

It is mandatory for each designer in Dubai to open an escrow account under Law No. (8) Of 2007 concerning escrow represents land improvement. The entire installment got from financial specialists must be kept in it. Cash is discharged by Rera after it surveys the venture’s development having met the required rate.
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Rera boss said they were no more perplexed of activities being slowed down, as engineers were propelling undertakings to construct them than simple offering them.
Designers need to finish their tasks with a hefty portion of them needing to begin offering simply after the venture nears consummation. This demonstrates the business has developed over the time.”
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Among the ensures looked for is 100 for each penny of the land cost to be paid by the engineer, at least 20 % of the development cost to be saved with Rera with contractual workers paying another 10 for every % of the development cost.
The Dubai Land Department has reported Dh55 billion worth of property exchanges over all classifications in the main quarter 2016.
Ghalita said investors had turned out to be exceptionally savvy and were making inquiries on materials utilized; manageability completes and benefits charges, which was not already the situation.
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We reported before that Rera boss needed designers to eliminate benefit charges by assigning some divide of the developed territory in their undertakings to produce income.
My recommendation to designer is to distribute a portion of the developed territory for income era. Begin with 50 for each penny of the administration energize going to 70 for every penny of the administration charge to be secured from this benefit and not from the speculator. Subsequently, the speculator will pay just 30 for every penny,” Ghalita had said on sidelines of the Dubai International Government Achievements Exhibition (DIGAE 2016).
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Dubai Retail Trade Volume to Cross Dh 140 Billion by the year 2021

The retail market of Dubai is going to go beyond $52 million by the end of year 2020 in sales by an average annual growth of more than 8%. Dubai’s GDP comprising of retail and wholesale trade of around 29% is on the path to boost its business to Dh 140 billion by 2021. This is decided by the director general of economic development department, Sami Al Qamzi. According to him, a key growth driver of the sector would be Dubai Strategic Plan and the World Expo 2020.

The retail and wholesale sector has 70 malls and hundreds of other outlets which cater to the domestic market which involves more than 4 million residents and 15 million visitors on an annual basis. The imports, exports and re-export activities of Dubai have an approximated market of 3 billion people. Dubai has emerged and has occupied a crucial knot in regional and global value chain because of its location, investments in creating a world class infrastructure and an effective yet efficient regulatory administration. In order to deepen and widen the emirate’s participation in global value chains, further developments are required.

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The retail and wholesale sector has 70 malls and hundreds of other outlets which cater to the domestic market which involves more than 4 million residents and 15 million visitors on an annual basis. The imports, exports and re-export activities of Dubai have an approximated market of 3 billion people. Dubai has emerged and has occupied a crucial knot in regional and global value chain because of its location, investments in creating a world class infrastructure and an effective yet efficient regulatory administration. In order to deepen and widen the emirate’s participation in global value chains, further developments are required.

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Based on the recent analysis data of Dubai Chamber of Commerce & Industry, retail market of Dubai surpassing $52 billion in sales mark by 2021 is not in line with DED’s figures. The sales for the year 2015 reached $35.4 billion and are ready to see 7.7% of expansion in 2016.

The Dubai Economy Talks of 2016 brought together the leading experts from around the world to highlight on the current trends forming the global trade as well as investment flows and their consequences for Dubai and UAE. Dubai also has a role in financial, business, transport and telecommunication services. “In the future, the emirate is looking to strengthen and widen the participation in global value chain and has recently acknowledged new strategy for industries which aims to turn Dubai into a hub of knowledge based innovative and sustainable industries across various sectors like pharmaceuticals, aerospace, medical equipment , fabricated metals, maritime, aluminum and FMCG.
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Trade across borders are highly structured around global value chains which comprises of intermediary trades, capital movements and ideas, service demands to co ordinate the wide spread production & distribution of goods and services.
A firm buys the input and investment goods & services which contribute to the process of production in a GVC. These are becoming more influential in determining the future trade and FDI patterns as well as opportunities for growth.
The Dubai Economy talks stands 2nd in the annual series started by DED, hosted in partnership with UN’s conference for trade and development. Two key drivers of growth and increased productivity -GVC and international/regional trade and investment agreements & relationship between them are sought in this to update business leaders. On the 20th anniversary of UAE joining WTO, one day forum was held at Armani Hotel Dubai thus providing opportunity for business representatives to exchange ideas related to international trade treaties and policies for long term with experts for stronger returns.
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Multi Billion Dollar Smart City on the Launch by Dubai Holding In South Korea

On 6th October, Dubai Holding has launched a Smart city in Seoul, South Korea which is worth a multi billion dollar. This smart city in Korea will strategically be located in between 2 cities of Seoul and Incheon and is quite near to 2 international airports.

Mohammed Abdullah Al Gergawi, Minister of Cabinet Affairs and also the Future Chairman of Dubai Holding were present on the launch along with the presence of South Korean government officials, businessmen and investors.

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This city is the latest addition to the Dubai Holding’s network based on the vision of Mohammed Bin Rashid to build a sustainable economy for the UAE people and of the world as well. Smart cities will give the government a chance to provide a balanced and comprehensive atmosphere for living across social, professional, environmental and economic areas of life.

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The initiative between UAE and South Korea will also contribute positively on both the country’s economies. It has an important role in furthering the relations between both the countries. This step will reinforce UAE’s leadership in urban development innovation and the commitment it demands in transferring the knowledge and experiencing exchange.
This is the 3rd initiative by Dubai Holding in Smart City. In February, coming year it will unveil the phase 1 in Kerala, India. It’s a city which is designed to live up to the knowledge services and IT. The philosophy behind is based on creating a global network of sustainable smart cities intertwined capitals of economic chances and also as incubators for science, technology and knowledge based economy in various parts across the world allowing opportunities for growth and prosperity for individuals, businesses and investors.
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The total amount of trade between the two cities has reached Dh122.7 billion from the year 2010 to 2015. The two nation’s economic development is based on the modern technological capabilities, infrastructure and advanced knowledge.
Dubai Holding is implying its strategy of sustainable development to diversify its investments into latest insights on innovation leading sectors which involve knowledge, economic and technological zones, building the base of an investment culture that adds value and support national economy.
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