Day: November 24, 2021

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DLD: 5,352 sales transactions worth AED 13.12 billion in October 2021

DUBAI, Coinciding with the launch of Expo 2020 Dubai, the largest global event and the first-of-its-kind in the Middle East, the Dubai real estate market continued to record new achievements and further growth in the field of real estate sales transactions.

According to the data of the 20th edition of Mo’asher, Dubai’s official sales price index launched by Dubai Land Department (DLD) in partnership with Property Finder, October 2021 recorded 5,352 sales transactions worth AED 13.12 billion, making it the best October on record for the past eight years.

The base year for Mo’asher is 2012, and the base month for the monthly index is January 2012, with the base quarter for the quarterly index being Q1 2012.

The index indicates that including October 2021, the year-to-date total is 48,651 sales transactions worth AED 177.44 billion. In just 10 months, the value of real estate sales transactions is 63.4% more than 2020 as a whole and is already the highest yearly sales figure since 2015.

In October 2021, the overall monthly Index recorded 1.132 and an index price of AED 1,086,969, apartments monthly Index recorded 1.16 and an index price of AED 974,621 and villas/townhouses monthly Index recorded 1.13 and an index price of AED 1,962,448.

October 2021 in terms of overall index numbers has been the highest since June 2019 and the highest for index value since March 2019.

Regarding apartment numbers, they have been the highest in index numbers since August 2020 and for index value since September 2020. The index for villas/townhouses performed the best, with October 2021 being the highest for index number since April 2019 and being the highest in Index value since February 2019.

October 2021 had 5,352 sales transactions worth AED 13.12 billion, making it the best October on record for the past eight years. Including October 2021, this brings the year-to-date total to 48,651 sales transactions worth AED 177.44 billion. In just 10 months, the value of real estate sales transactions is 63.4% more than 2020 as a whole and is already the highest yearly sales figure since 2015.

The villa townhouse index increased by 14% over the past six months. Since the start of the pandemic, the demand for villa/townhouses has increased exponentially, which led to an increase in sales of villa/townhouses, breaking records for the most sold starting in July 2020 and increasing month-on-month.

In October 2021, 60% of all transactions were for secondary/ready properties and 40% were for off-plan properties. When we look at the volume of sales transactions, the off-plan market transacted 2,133 properties worth a total of AED 4.4 billion.

The ready market transacted 3,219 sales transactions worth AED 8.72 billion. Breaking this down further by developer sales and individual sales, developers had a total of 3,395 transactions worth AED 8.08 billion which included off-plan and prime, ready properties while individual sales accounted for 1,957 transactions worth AED 5.03 billion as per data from data finder suggest.

According to proprietary Property Finder demand data, the top areas of transactions in the month of October 2021 for villas/townhouses in June 2021 were the Damac Hills 2, Nad Al Sheba, The Springs, Dubai Hills Estate and Arabian Ranches. As for apartments for the same period, the top areas of interest were Dubai Marina, Business Bay,Jumeirah Village Circle, Downtown Dubai and Jumeirah Lake Towers.

For off-plan properties the top areas of transactions in the month of October 2021 for villas/townhouses in June 2021 were the Arabian Ranches 3, Tilal al Ghaf, The Valley, Dubai Land and Mohammed bin Rashid City. As for apartments for the same period, the top areas of interest were Dubai Harbour, Mohammed bin Rashid City, Dubai Creek Harbour, Business Bay and Downtown Dubai.

 

Source: Emirates News Agency

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Mansoor bin Mohammed visits pavilions of the Kingdom of Saudi Arabia, Morocco at Expo 2020 Dubai

DUBAI, H.H. Sheikh Mansoor bin Mohammed bin Rashid Al Maktoum, Chairman of Dubai Sports Council, today toured the pavilions of the Kingdom of Saudi Arabia and Morocco at Expo 2020 Dubai.

H.H. was accompanied during the visit by Mona Al Marri, Vice Chairperson and Managing Director of the Dubai Media Council and Director General of the Government of Dubai Media Office.

Speaking during his visit to the mega event, which has attracted millions of visitors from around the world since it opened its doors on 1 October, H.H. Sheikh Mansoor said that Expo 2020 provides a unique opportunity to showcase the Arab world’s contributions to human civilisation. The global show, held for the first time in the Middle East, Africa and South Asia region, is also able to present the region’s aspirations and innovative initiatives that are set to contribute to its future progress and development, H.H. said.

Sheikh Mansoor toured the Kingdom of Saudi Arabia’s Pavilion, which presents the country’s vision and aspirations in various fields, including business, tourism, innovation and advanced technologies. Located in the Opportunity District, the Pavilion, spanning over 13,000 square metres, is the second largest pavilion in size at the Expo 2020 Dubai site.

Sheikh Mansoor also visited the Morocco Pavilion located at the Opportunity District, which invites visitors to discover the country and its history, identity, achievements and vision for the future.

He was briefed on the various features of the Pavilion, which showcases the country’s modernity and tradition. The Pavilion provideas a fascinating insight into Morocco’s commitment to sustainability. The design of the Pavilion is inspired by ancestral methods of using earth, typical of many traditional Moroccan villages.

The Emirates’ Pavilion was another stop on His Highness’s tour. The Pavilion showcases the Dubai-based airline’s vision for the future of air travel. Displaying technologies that offer a glimpse into the changing world of commercial aviation, the Pavilion enables visitors to learn about advancements that will define the travel experience of the future, both in the air and on the ground.

H.H. praised the airline’s commitment to development which contributes to enhancing Dubai and the UAE’s leading position in the fields of air transport, tourism and aviation.

 

Source: Emirates News Agency

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dnata expands into Africa; announces major investment in Zanzibar aviation industry

DUBAI, dnata, a leading global air and travel services provider, has signed a concession agreement with The Government of Zanzibar, along with Emirates Leisure Retail and SEGAP, a joint venture between airport infrastructure and operations specialists Egis, and private equity fund manager AIIM.

Under the partnership, dnata will oversee the operations of Zanzibar Abeid Amani Karume International Airport’s (ZNZ) newly-built international terminal (T3), with SEGAP supporting the Zanzibar Airports Authority (ZAA) in a management capacity. Emirates Leisure Retail will partner with MMI as master concessionaire for all food and beverage, duty free and commercial outlets at T3.

dnata will provide its globally renowned, quality ground and passenger handling services to airline customers at ZNZ, ensuring safe and timely operations of flights and an excellent travel experience for passengers. dnata expects to handle more than 4,000 flights annually at the airport.

dnata will also invest in a state-of-the-art cargo centre to establish cargo operations at the airport, supporting local trade and businesses. The facility will comply with the highest industry standards ensuring efficient and safe handling of a broad range of cargo, including perishables, pharmaceuticals, dangerous goods, live animals, aircraft engines and vehicles.

In addition, dnata will launch meet and greet and lounge services through its airport hospitality brand, Marhaba, to help passengers further enhance their experience and enjoy a smooth airport journey from check-in to boarding.

dnata’s expansion into Zanzibar represents an investment of over US$7 million and will create up to 400 direct local jobs with the company.

Including this latest investment which is dnata’s first operation in Tanzania, dnata now provides quality and safe ground handling, cargo, catering and travel services in 36 countries.

Steve Allen, Executive Vice President of dnata and Chairman of Emirates Leisure Retail and MMI, said, “We are thrilled to expand our global footprint into Africa and establish operations at the airport of Zanzibar. We are confident that our investment in the local aviation industry will stimulate tourism and trade, delivering significant benefits for Zanzibar businesses and the local community.

“Our teams’ passion for excellence, broad partnership network and global experience in providing best-in-class ground handling, airport hospitality and F&B services will ensure consistent quality at every stage of the airport journey. We will deliver an innovative and fresh airport concept that provides an integrated passenger experience whilst showcasing Zanzibar’s traditions and style.

“We look forward to a fruitful partnership with the Zanzibar Airports Authority and SEGAP.”

Dr Hussein Ali Mwinyi, President of Zanzibar and Chairman of the Revolutionary Council, said, “The launch of our new terminal at the Abeid Aman Karume International Airport marks a turning point in the Revolutionary Government of Zanzibar’s efforts in becoming a globally recognized island for tourism and trade. The Zanzibar Airport Authority’s partnership with dnata reaffirms our commitment to international excellence in providing a seamless experience for all international visitors.”

Christian Laugier, CEO-Sales for Egis, commented, “Our teams will focus on performance across all areas, including infrastructure, operations, safety and security, governance and finance. Our efforts will be on making the airport and air transport more effective catalysts for tourism growth in a destination that has everything to attract visitors, from pristine beaches to a UNESCO World Heritage site.”

 

Source: Emirates News Agency

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Masdar named ‘Energy Company of the Year’ for third time at Gulf Business Awards 2021

ABU DHABI, Masdar, one of the world’s leading renewable energy companies and a subsidiary of Mubadala Investment Company, has been recognized as ‘Energy Company of the Year’ for the third time at the prestigious Gulf Business Awards 2021, having previously won the award in 2016 and 2017.

The Gulf Business Awards recognize companies positively impacting and driving the GCC’s economic landscape, with companies being judged on criteria including innovation, growth, financial results, and corporate social responsibility. Niall Hannigan, Chief Financial Officer of Masdar, received the award in person at a gala ceremony, held on Tuesday evening at the Dubai International Financial Centre, attended by many of the top business leaders in the region.

Masdar’s victory in this award comes after the company more than doubled the capacity of its renewable energy portfolio within two years, with Masdar now investing in or committed to invest in projects with a total generation capacity of at least 13 gigawatts. Masdar City, Abu Dhabi’s only planned and approved research and development cluster, also continues to expand, with the City today home to more than 1,000 companies.

“Receiving this award once again is testimony to the commitment and efforts of our dedicated employees around the world and to the unstinting support of our shareholder, Mubadala Investment Company,” said Mohamed Jameel Al Ramahi, Chief Executive Officer of Masdar. “Masdar is proud to have played a key role in the UAE’s energy transition over the past 15 years, and today we are active in almost 40 countries around the world, helping nations achieve their climate objectives. In Masdar City, we have created a true greenprint for sustainable urban development, providing a hub for tech pioneers to innovate the solutions of tomorrow. I look forward to competing for this award again in 2022!”

The shortlist for the Energy Company of the Year award included many other leading energy companies. Gulf Business, which is celebrating its 25th anniversary this year, also presented awards to companies and business leaders within the sectors of banking, energy, healthcare, investment, real estate, retail, technology, transport and logistics, as well as tourism and hospitality.

 

Source: Emirates News Agency

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Mohamed bin Zayed, Turkish President discuss bilateral relations, regional developments

ANKARA, His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, and Recep Tayyip Erdogan, President of Turkey, today discussed the bilateral relations between the UAE and Turkey in the presidential complex in Ankara.

They also discussed new prospects for overall cooperation between their countries to serve the mutual interests, as well as regional and international issues of mutual concern.

President Erdogan welcomed the visit of His Highness Sheikh Mohamed to Turkey, highlighting his confidence the visit will be the start of a new promising, prosperous era of bilateral cooperation that serves interests of their countries and the region at large.

His Highness Sheikh Mohamed bin Zayed expressed his happiness at visiting Turkey and meeting with Erdogan, and conveyed the best wishes of President His Highness Sheikh Khalifa bin Zayed Al Nahyan to Turkey and its people for continued stability and prosperity.

During the meeting, His Highness Sheikh Mohamed and President Erdogan discussed opportunities for enhancing the cooperation between the two countries, most notably in investment, economic and developmental areas.

Both sides also exchanged views on several issues and developments affecting the region, stressing the importance of strengthening the foundations of security, peace and stability, which are key to the process of development and gateway to bright future for the people in the region.

Sheikh Mohamed expressed the hope that the visit will pave the way for a new phase of serving common interests of the two countries and the region as a whole.

He said the that the two countries have taken positive steps to advance the historic, constructive and fruitful relations.

“We, in the UAE are keen to build on these steps to advance our mutual development goals in all domains. The economic and commercial ties between the UAE and Turkey provide promising opportunities in various areas, particularly the non-oil trade which has witnessed a remarkable growth. This provides a strong foundation for serving development in the two countries,” he added.

Sheikh Mohamed referred to Turkey’s participation in Expo 2020 Dubai as a great opportunity to foster developmental partnerships between the UAE and Turkey and to identify available opportunities to further ties of cooperation.

“The UAE foreign policy is guided by the support for regional peace, stability and development. Therefore, we look forward to strengthening cooperation, partnerships and positive relations with all countries of the region, including your friendly country. Our goal is development and prosperity to all and we firmly believe this is the way to realising our peoples’ aspirations.”

Sheikh Mohamed said Turkey is an important country and a key regional and international player, adding that the UAE is keen on cooperating with Turkey to find peaceful solutions to the regional crises that contribute to achieving peace and stability and to opening new horizons for a new regional position.

The President of Turkey hosted a dinner banquet in honour of His Highness Sheikh Mohamed bin Zayed Al Nahyan and his accompanying delegation.

The meeting and the banquet were attended by H.H. Sheikh Tahnoun bin Zayed Al Nahyan, National Security Adviser; H.H. Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential Affairs; Sheikh Mohammed bin Hamad bin Tahnoun Al Nahyan, Chairman of the Abu Dhabi Airports Board of Directors; Suhail bin Mohammed Al Mazrouei, Minister of Energy and Infrastructure; Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology; Mariam bint Mohammed Almheiri, Minister of Climate Change and the Environment; Ali bin Hammad Al Shamsi, Deputy Secretary-General of the Supreme National Security Council; Jassim Mohammed Buatabh Al Zaabi, Chairman of the Abu Dhabi Department of Finance and Member of the Executive Council; Faris Mohammed Al Mazrouei, Advisor at the Ministry of Presidential Affairs; Mohamed Mubarak Al Mazrouei, Undersecretary of the Crown Prince Court of Abu Dhabi; Ali Faisal Ba’Alawi, Head of the UAE Financial Intelligence Unit; Mohammed Saeed Salem AlNedyadi, Chargé d’Affairs of the UAE Embassy in Turkey; Mohammad Hassan Al Suwaidi, Chief Executive Officer of ADQ; Mohamed Juma Al Shamsi, Group CEO of Abu Dhabi Ports; Saeed Hamad Obaid Al Dhaheri Chief Executive Office of Abu Dhabi Securities Exchange; Mohammed Al Abbar, Chairman of the Board of Directors of Eagle Hills developers. Also attending were Turkish ministers and senior officials.

 

Source: Emirates News Agency

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Dubai Racing Club to mark UAE’s 50th National Day with Golden Jubilee Race Night at Meydan Racecourse

DUBAI, The Dubai Racing Club announced that it will organise a Golden Jubilee Race Night at Meydan Racecourse on Thursday, 2nd December, 2021, to mark the UAE’s 50th National Day.

Members of the UAE Armed Forces will be special guests at the programme, the third meeting of the season at the UAE’s flagship track. Children of the nation’s martyrs will present trophies to the winners at the event.

The meeting will feature a total of seven races, each of which will be named after one of the seven emirates.

The opening contest titled “Abu Dhabi” will be sponsored by the Land Forces. This race will be followed by “Dubai”, sponsored by the UAE Navy. The third race, “Sharjah”, will be sponsored by the Air Force and Air Defence, while the fourth race, “Ajman”, will be sponsored by the Presidential Guard. The fifth race “Umm Al Quwain”, will be sponsored by the Joint Aviation Command while the sixth “Ras Al Khaimah”, will be sponsored by the Support Forces. The evening will conclude with the seventh race “Fujairah”, sponsored by the National and Reserve Service Authority.

Commenting on the occasion, Sheikh Rashid bin Dalmouk Al Maktoum, President of the Dubai Racing Club and Dubai Equestrian Club, expressed his pride in commemorating the UAE’s 50th National Day at the Meydan Racecourse.

The Dubai Racing Club is keen to actively participate in national and community events, he said, noting that this particular occasion will bring together horsemen and racing fans to compete in races that celebrate each emirate of the country. “The organisation of the race under the patronage of the UAE Armed forces and in the presence of the children of the nation’s martyrs, expresses our loyalty and gratitude to the nation.”

“The 50th anniversary of the founding of the UAE is a historic moment and an occasion to celebrate the country’s various achievements, including its hosting of Expo 2020 Dubai, the first global event of its kind in the region. The successful launch of the Hope Probe, the first Arab mission to Mars, is another achievement we take pride in,” Sheikh Rashid added.

“On the occasion of the UAE’s 50th anniversary, I extend my warmest congratulations to President His Highness Sheikh Khalifa bin Zayed Al Nahyan; His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai; His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, and Their Highnesses Supreme Council Members and Rulers of the Emirates,” Sheikh Rashid said.

During the Golden Jubilee evening, racegoers of all ages can compete in the Best Emirati Dress Competition. Prizes will be distributed among five winners. Those wishing to enter the contest must visit the photo booth at Gate A of Meydan Racecourse.

 

Source: Emirates News Agency