Dubai Forum After Opening of Burj Khalifa Delineates Sustainability Trends

A leading platform of discussion on sustainability trends in the construction industry of UAE, The Dubai Forum was held in Dubai on 5^th January. There were circa 40 speakers and panelists along with more than 400 delegates from 15 different countries discussing on the ways for obtaining the sustainability in the construction industry of the region.

The event was organized by Brand Dubai focusing on ‘Architecture for Sustainable Societies’. It was held under the benefaction of the Vice President and Prime Minister of the UAE and Ruler of Dubai, His Highness Sheikh Mohammed Bin Rahid Al Maktoum and Deputy Ruler of Dubai, His Highness Sheikh Maktoum bin Mohammed bin Rashid Al-Maktoum.

The Chief Executive Officer of Brand Dubai, Mona Al Marri said in her address, “The UAE has the resources required for creating sustainable communities and The Dubai Forum provides a channel to gather inputs in the architectural, design, and planning areas.Taking forward the vision of His Highness Sheikh Mohammed, The Dubai Forum will publish an annual anthology on sustainability and environmental development in Dubai and across the UAE. Our objective is to create a body of work that will benefit professionals, scholars, students, educators and the general public in the Arab world."

The Chairman of Emaar Properties, Al Abbar commented on Burj Khalifa as the Landmark and the mouthpiece of an emphatic message to the world. He said, “It is a new accomplishment that has crowned the list of Dubai's great achievements. Burj Khalifa is not just a symbol of the UAE, but of the entire Arab world. The UAE is reinvigorating the spirit of the Arab renaissance, when our forefathers led the rest of the world in the sciences, mathematics and even architecture."

He while describing the Burj Khalifa as a structure to the creativity of human, said that it has given way to a ‘whiff of fresh optimism to the region’. “The 12,000 people who worked on the project have equipped themselves to take up a daunting task in the construction sector anywhere in the world. When wise leaders stand by their people and inspire them to push the boundaries, the impossible becomes possible. Burj Khalifa proves just that

Burj Dubai Inaugurated and Renamed as Burj Khalifa Transmuting Record Books

Escorted by the dazzling fireworks, Dubai unveiled the long awaited Burj Dubai, the tallest building of the world stretching half a mile in the air. The inauguration ceremony of the tower also gave way to the unexpected renaming of the structure which would now be called as “Burj Khalifa” in order to honor the leader of Abu Dhabi and also the president of UAE.

The building rises 2,717 feet (828 meters) from the desert sands. It can be astutely be called as the “vertical city which can accommodate 25000 people at one time. The building costing $1.5 billion is a property with luxury apartments and a hotel. Apart from this, it is a proud possessor of the world’s highest mosque and swimming pool on the 158^th floor and 76^th floor respectively.

The ceremony heard thousands of applauds accompanies the opening of the tapered spire with fireworks and multicolored laser lights to add to its awe.

The city’s 60year old hereditary leader, Sheikh Mohammad bin Rashid Maktoum believes that the building and its surrounding development will help to augment the reputation among the international investors as well as restore the allure of Dubai as a business hub.

The chairman of the developer of the tower, Emaar Properties, Mohanned Alabbar initially said, “it had more than 200" stories, but he later backtracked to more than 165 inhabitable floors, given its tapered top. Promotional materials sent before the tower's opening said it contained 160 stories.”

As per the developers, the building which is nearly twice the height of the New York’s Empire State Building, is confidently safe.

Greg Sang, Emaar's director of projects, said the Burj Khalifa has "refuge floors" at 25 to 30 story intervals that are more fire resistant and have separate air supplies in case of emergency. Its reinforced concrete structure, he said, makes it stronger than steel-frame skyscrapers.

Emaar and Nakheel to Participate in Cityscape 2009

Cityscape Dubai is the largest business to business real estate development and investment exhibition. Nakheel, the state owned master real estate developer has now agreed to take part in this grand real estate event Cityscape Dubai. Earlier, these two famous Dubai real estate developers have decided not to participate in the event; however they have now reversed their earlier decisions. Emaar Properties said that they will participate in order to explain the growth strategies and expansion of their work by various business segments. They need to further explore the new geographies especially, in North Africa and Middle East.

Nakheel’s decision of participating in Cityscape Dubai 2009 was followed by discussions with partners, leading event organizers and various industry stake holders. Moreover, they both said that they would not be participating in Dubai’s premier real estate show. On Saturday, Nakheel said: “It would focus on exhibiting communal properties on several of its developments that are close to completion.” Emaar will also feature various lifestyle communities which the company is developing in Dubai and in other international markets.

Recently, Nakheel has completed the handover of 33 islands on The World. There are various other property developments in its portfolio for which the handovers are scheduled. The company is further preparing for the inaugural Dubai World Championship Golf tournament which is going to be held in November at Jumeirah Golf Estates. Earlier Emaar refused to participate as they wanted to focus on its existing portfolios. Emaar Properties is set to merge with three government owned property units. Now, both have decided to take part in this grand real estate event.

Special Ramadan Deals For Properties At Downtown Burj Dubai by Emaar

Emaar properties are one of the leading global real estate developers in Dubai. As Ramadan is going on Emaar unveiled some special Ramadan packages at competitively priced apartments. Moreover, they are giving flexible purchase options and other unique benefits that include: up to one year waivers on maintenance fees for residential units in real estate in Dubai in one of the most prestigious developments that is Downtown Burj Dubai. There is several property units which are new to the market and are on the offer. All these properties can conveniently access various local attractions including The Dubai Fountain, The Dubai Mall and various other entertainment destinations.

The sales initiative is for residences in all established communities including Burj Views, The Old Town, South Ridge and The Residences. MD-UAE, Emaar Properties, Ahmad Al Matrooshi said: “Emaar's new initiatives for the Holy Month of Ramadan and through September are specially tailored to offer several advantages for customers. These offers are part of our concerted efforts to support our customers and assure flexible and attractive options when making a purchase decision. Customers can also meet with our mortgage consultants at the Emaar Square Sales Centre for free consultancy.”

A special and attractive offer for Rent To Own customers is announced who convert to ownership by the end of the September. This Rent To Own scheme was unveiled last year, thereby, offering the customers to rent a home for one year. Easy mortgages of up to Dh2.5 million on variety of studios to 3 bedroom apartments, however, this benefit follows only for potential customers. Emaar Square Sales Centre is the mortgage consultants of the company which are giving free consultancy to the clients who are interested in the offer. For details, potential customers must visit Emaar Square Sales Centre.

Dubai Holding To Merge 4 Of Its Leading Property Entities

Dubai Holding is one of the well known and leading Dubai real estate development and investment firm issued a statement, that it will merge four of its leading property entities which includes: Bawadi, Dubai Properties, Sama Dubai and Remraam and the Tiger Woods golf course. These property entities are being merged in order to form one large property entity in the Middle East.

After combining these four, it will become one major property entity. This merger moves ahead of a planned merger between Dubai Holding’s property subsidiaries – Sama Dubai, Tatweer, Emaar properties and Dubai properties later this year. Dubai Holding also stated that it would also merge the back office operations in order to cut costs.

The merger between the two of these leading master developers is to be done by October as per the government’s plan. The merger of the two Dubai Holding’s three entities and Emaar’s merger would create a company worth an asset base of Dh194 billion and a debt of Dh13.4 billion. A rough idea of 7 percent of the total assets will be given. Moreover, they both are committed to finalize their merger somewhere around October. Merrill Lynch and RBS which were retained as the financial advisers for Emaar and Dubai Holding respectively are advising the two as far as the merger is concerned, as due diligence continues. Both Dubai properties and Sama Dubai together possess one of the largest land banks within the North Africa and Middle East region covering a geographical stretch from UAE to Morocco.

Emaar Healthcare Group To Offer Healthcare Facilities In Dubai

Emaar Healthcare Group is now expanding its horizon and its presence in Dubai as new facilities are to be opened in Downtown Burj Dubai, Meadows and Arabian Ranches. Emaar Healthcare Group is the subsidiary of Emaar Properties. The CEO of Emaar Healthcare Group, Omar Al Shunnar said: “Emaar Healthcare Group is dedicated to providing excellent medical facilities, manned by highly-skilled healthcare professionals and equipped with the latest technologies. With a clear commitment to deliver world class healthcare to the communities we serve, we will provide the utmost care and attention to our patients and ensure a caring and secure medical environment with a strong focus on customer service.”

Emaar is expanding to healthcare sector which shows that the developer’s are committed to develop integrated communities along with amenities thus, enhancing the quality of life. Downtown Burj Dubai Medical Centre has got opened late this year which is a flagship healthcare facility which got opened under Emaar Healthcare Group. This medical centre is highly advanced; it offers special primary patient care specialties. Moreover, it offers advanced diagnostic services along with on-site laboratory facilities.

Excellent medical facilities are being provided maintained by skilled professionals by Emaar Healthcare Group. Every medical centre is equipped with latest technologies. The CEO said: “With a clear commitment to deliver world class healthcare to the communities we serve, we will provide the utmost care and attention to our patients and ensure a caring and secure medical environment with a strong focus on customer service.” He further added “The partnership with Methodist International underscores our commitment to develop world-class facilities of the highest standards for patients. Methodist Hospital is one of the world's leading names in healthcare delivery and their reputation and experience complements our objectives. Through our linkage with Methodist, we will leverage their expertise in providing value added services including the ability to source second opinions from the US.”

Design of Homes in Samarah Sea Resort Property gets completed

The second phase of the design of The Apartments in Samarah Sea Resort, a residential community has been completed by Emaar International Jordan, country subsidiary of well known Dubai real estate developer Emaar properties. The construction of the development is set to instigate shortly. The progress of this real estate project highlights the dynamics of the property sector of the Dead Sea region and Samarah’s great contribution to the local economy.

This project will be acknowledged for its higher and better property development standards. Moreover, these standards have been brought in by Emaar properties. Emaar properties are a reputed property developer which has a track record in developing internationally acclaimed projects around the globe. This real estate project that is being developed comprises of a cluster of 8 low-rise buildings. It forms an integral part of the Rift Living homes. Samarah Dead Sea Resort is a mixed use project incorporating the best modern amenities including beach clubs, hotels, retail units and various other leisure facilities.

The Rift Living homes are directly located on the Dead Sea. These homes are adjacently located to the waterway and across Wadi Mukheiris from the King Hussein Bin Talal Convention Centre and the sales center. The project work is currently progressing as per its schedule. GM, Emaar International Jordan, Radzi Zakaria said: “Samarah Dead Sea Resort is an unparalleled development in the Dead Sea region as it integrates the world-class design and development competencies of Emaar Properties. As a resort-themed project, Samarah is billed to energize the tourism and property sector growth of the Dead Sea region. This perfectly fits with the Government's plans to boost the region through focused investments.”

After Emaar and Dubai Properties Merger New Entity to have Dh194bn

Emaar properties have a proposed merger with three Dubai Holding entities and it has been said that now the combined assets are Dh194 billion. Moreover, with their merger a new entity has been created. Emaar Chairman Mohamed Alabbar said to Dubai Financial Market: “The new entity will have Dh13.4 billion of debt obligations, around seven per cent of total assets valued at Dh194bn.”

Dubai properties, Sama Dubai and Tatweer, all three entities of Dubai Holding have a solid land bank, thereby, contributing positively to the consolidation. At the end of the year 2008, the 3 real estate developers excluding Emaar properties has a total asset of Dh126 billion, moreover, an external debt of Dh3.4 billion. This complete are just 2.7 percent of the total assets of the 3 companies. As per 31^st March 2009, the total book value of assets of the largest listed Arab developer was at Dh68bn. The total debt obligation comes out to be 15 percent of total assets that is Dh10bn. Sama Dubai, Dubai properties and Tatweer are the three entities of Dubai Holding which are valued at Dh126bn as of December 2008. Moreover, they have external debt obligations as well which are around Dh3.4bn.

Although, four of them will join their assets, however, they will also share a debt of Dh13.4 billion. Out of these 4 Emaar properties is the only Dubai real estate developer that is being listed on DFM which at the end of March had the total assets worth Dh68 billion and the debt obligation of Dh10 billion.

Excellent Residential Options Displayed By Emaar Misr At Property Exhibition

For the Development S.A.E, Emaar Misr, the completely possessed country subsidiary of Dubai real estate cmpany Emaar Properties, is displaying its varied collection of pleasingly planned and designed entirely finished homes at the exhibition- Next Move commencing from April 28 to May 1, 2009 at the Cairo International Conference Centre. 3 residential communities have been launched by Emaar Misr - Marassi, Mivida and Uptown Cairo- to potential customer and sturdy investor response can make well-versed procured finance decisions at the venue of the exhibition.

The CEO of Emaar Misr for Development, Sameh Muhtadi, mentioned that, "Emaar Misr is bringing to the country truly global competencies in master-planned community development. Next Move is one of the premier exhibitions for the real estate sector in Egypt and brings together various stakeholders including developers, consultants and customers. We are showcasing the rapid progress achieved in the construction of our projects at the exhibition."

Emaar Misr has a striking 596 sq m pavilion at Next Move, which demonstrates the representations of its projects and the growth in construction achieved. Emaar will also emphasize on the various features that add worth to the properties in Mivida, Marassi and Uptown Cairo. The incorporated communities propose the benefit of effortless access to the city centre while providing that ready-to-step-in apartments.

Launched in February 2009, lately, Mivida is the latest community for residential purposes by Emaar Misr and is located in New Cairo City, only at a distance of 1.5 km from the American University of Cairo. Senior Director, - Development, Emaar International Mr Mohamed A. El. Moshneb, added: "Emaar's projects reflect our philosophy to create fully-integrated lifestyle communities. All our projects in Egypt will feature healthcare centers, educational institutions, hotels, thus providing an engaging lifestyle experience. We have made on-schedule progress with our projects and are committed to deliver them."