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Sunday, January 18, 2015

The H Holding Enterprise launches Omega Real Estate









The H Holding Enterprise launches Omega Real Estate

New company to create a real estate portfolio of AED 500 million by end of 2015

Dubai, UAE, 18 January 2015: ‘The H Holding Enterprise’ has launched Omega Real Estate, a company specialised in real-estate development, asset management and related services in the Middle East.

Unveiling the new company, Hafeez Abdullah, Chairman of ‘The H Holding Enterprise’, said Omega Real Estate is targeting to establish a real estate portfolio of AED 500 million by end of 2015.

He added: “We strongly believe that real estate will remain the hottest investment in the UAE for the coming decade, and that is why we decided to invest in this new venture. Real estate is widely regarded as a sound investment, especially by people with easy liquidity. We foresee increased regional demand for UAE realty as the understanding and knowledge attained over years by investors go hand in hand with the expertise of the real estate developers and the regulatory measures of the Dubai Land Department (DLD).”

Regional and international investments are the key drivers of the UAE real estate industry, aided by the maturity of the market, and all this will contribute to further growth of the sector, according to Abdullah.

Announcing the appointment of Nahid Dabirchian as General Manager of Omega Real Estate, Abdullah said: “We welcome Nahid on board and we believe that her strong background as a senior professional at leading UAE real estate companies will be a key factor in helping us achieve our goal of becoming one of the leading real estate companies in the Arab world and beyond, driven by the proven expertise of ‘The H Holding Enterprise’.

Dabirchian commented: “I am very pleased to head Omega Real Estate in the Middle East. I believe there is huge potential for the company to take a front seat in the property industry in the region. We have tremendous experience from the top of the pyramid represented by the experience of our chairman, Mr Hafeez Abdullah, to the bottom. This combined expertise and experience will certainly drive the company forward at a rapid pace.”

She added: “2014 was a positive year for the realty market in the UAE in general and Dubai in particular. The sector has generated higher demand for properties across many new locations. We know for sure that our investors have strong belief in what the UAE has to offer in the coming decade as far as real estate in concerned.”

Dabirchian aims to create a dynamic and progressive sales section at Omega Real Estate by utilizing the extensive expertise and experience of the Omega Real Estate team.

She held many senior positions as a planner for strategic policies and sales & marketing management, including as Director of Sales (Real-Estate Development) at DAMAC Holding.

Thursday, January 15, 2015

DEWA increases capacity of Phase II of the Mohammed bin Rashid Al Maktoum Solar Park to 200 MW










DEWA increases capacity of Phase II of the Mohammed bin Rashid Al Maktoum Solar Park to 200 MW

DEWA selects Saudi ACWA and Spain’s TSK for the project with the world’s lowest LCOE

Dubai, UAE, 15 January 2015: HE Saeed Mohammed Al Tayer, MD & CEO of Dubai Electricity and Water Authority (DEWA), has announced that the production capacity of the second phase of the Mohammed bin Rashid Al Maktoum SolarPark will be increased from 100MW to 200MW. The announcement was made at a press conference held today at Grand Hyatt hotel in Dubai. Phase II of the Mohammed bin Rashid Al Maktoum Solar Park is a photovoltaic plant that will be based on the Independent Power Producer (IPP) model and will be operational by April 2017. The conference was attended by Mohammad Abunayyan, Chairman of Saudi ACWA, which leads the consortiumalong with Spain’s TSK, and Gregory Thomassin, Project Manager and financial advisor at KPMG and CamiloVaras, Technical Advisor at Lahmeyer International. The conference was also attended by Waleed Salman, EVP of Strategy and Business Development at DEWA, along with EVPs, VPs, DEWA staff, and a large number of media representatives.

“Today, DEWA adds another solar facility at the Mohammed bin Rashid Al Maktoum Solar Park, which is one of the largest renewable energy projects in the region. This is in line with directives of HH Sheikh Khalifa bin Zayed Al Nahyan, President of the UAE, to produce renewable energy locally, sustain our precious resources and support the growth of a promising new sector, and in alignment with the Green Economy for Sustainable Development initiative launched by HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, and his vision, which sets the roadmap for our developmental initiatives and projects, and to implement the Dubai Plan 2021 to enhance sustainability and create a happy society that meets the aspirations of citizens and residents, DEWA is adding another solar plant at the Mohammed bin Rashid Al Maktoum Solar Park, which is one of the largest renewable energy projects in the region. With a planned total cost of AED12 billion, the Solar Park will produce 1,000 MW of electricity when completed in 2030,” said Al Tayer.

“As you know, the Mohammed bin Rashid Al Maktoum Solar Park supports the Dubai Integrated Energy Strategy 2030 developed by the Dubai Supreme Council of Energy to diversify Dubai’s energy mix. Solar energy will account for 1% of Dubai’s total energy production by 2020 and 5% by 2030,” added Al Tayer.

“To establish the position of Dubai as a global hub for trade, finance, tourism, and sustainability, and a role model worldwide in achieving the highest standards in energy efficiency and increasing the share of renewable energy, I am pleased to announce that the production capacity of the second phase of the Mohammed bin Rashid Al Maktoum Solar Park has been increased from 100MW to 200MW. It is one of the biggest strategic new Independent Power Producer (IPP) projects in the renewable energy market worldwide.

The consortium led by ACWA and TSK was selected as a preferred bidder based on its proposal for 200MW with a LCOE (Levelised Cost of Energy) of approximately 5.85 (5.84869) USD cents/kWh,” noted Al Tayer.

“Bids were reviewed and we selected the best bid according to the criteria developed by the advisory committee that oversees the project. DEWA received 49 qualification documents for phase II of the Mohammed bin Rashid Al Maktoum Solar Park. In response to its open request for qualifications, which was released in May 2014,we formed a consortium, led by KPMG, as financial consultant, Lahmeyer International, as technical consultant, and Norton Rose Fulbright as legal consultant. DEWA shortlisted 24 developers for the second phase of the bid, which was released on 22 July 2014. DEWA received ten proposals from consortia formed by the world’s leading power companies.The consortium led by ACWA Power and TSK submitted the lowest recorded LCOE for a solar PV IPP project at 5.98 USD cents/kWh, which was the lowest recorded bid received for a solar photovoltaic IPP project.”

“The number of bidders, and the competitive price we received, demonstrates the trust that international investors have both in Dubai and in DEWA, and is a testament of our transparency in all our projects in addition to DEWA’s strong financial position. DEWA has been upgraded lately by Moody’s to Baa2, and Standard & Poor’s has given a credit rating of BBB.”

“Phase 2 is one of the largest international projects of its kind and will be operational by April 2017. The project, which occupies 4.5 square kilometres, will help to achieve a reduction of 250,000 tonnes of carbon emissions annually. This supports the green initiatives and programmes of the Government of Dubai to reduce carbon emissions. This project will increase the size of solar energy projects in Dubai to 220 MW.

The tender for this project, which will be implemented in partnership with the private sector, is a key step towards achieving the objectives of the Dubai Integrated Energy Strategy 2030, where solar-powered electricity is set to become part of Dubai’s energy portfolio by increasing renewables in the energy mix.DEWA will continue to execute these ground-breaking projects in renewable energy and contribute to the growing energy needs of Dubai,” said Al Tayer.

“A large number of international organisations were interested in this project. The wide participation in the bid reflects the trust and interest of international investors to invest in in this vital field, which is supported by the Government of Dubai.To achieve our vision to become a sustainable world class utility, we are working to establish sustainability, which is a roadmap for a brighter and happier future for Dubai, by launching distinguished world-class initiatives and projects in green development,” concluded Al Tayer.

Wednesday, January 14, 2015

What is Luxury? By Indigo Properties










What is Luxury?

Open up a newspaper or driving down Sheikh Zayed Road, one is sure to be inundated with adverts screaming upcoming ‘luxurious’ developments. However what constitutes the term luxury. In a cosmopolitan city such as Dubai, where over 200 nationalities co-exist peacefully, luxury can mean various things for people depending on their ethnicity, upbringing or even their socio-economic status.

Mr. Dev Maitra, the CEO of Indigo Properties, helps shed light on this ambiguous term by defining luxury in terms of qualities high end property buyers in Dubai look for.

·         Luxury is uniqueness: High end buyers look for expert architecture coupled with tropical and verdant landscaping that stand out from other property developments. Gated communities with beautifully designed villas offer privacy while also being exclusive.
·         Luxury is in the Design: A designer pool, large windows that allow for natural sunlight, state of the art equipped kitchen, smart home technology, panoramic glass elevators, spacious bedrooms with en suit bathrooms, infinity baths and baths fitted with a Jacuzzi or sauna are all luxurious elements that high end buyers look for in their homes. Houses that let in natural light and are surrounded by beautiful views provide a Zen like atmosphere, improve mood and also increase resale value. Striated stone front fascia detailing, timber roof cornices and pergolas, textured wall paint and rustic colored roof tiles all add that extra distinct element that high end property buyers look for in order for their homes to stand out. Natural elements like water, sand and stone also play a part in influencing their purchase.
·         Luxury is Spacious homes:3,800 sq. ft.to 9,800 sq. ft. offers for a comfortable living. Full height windows with sliding doors which lead on to terraces and balconies help in ensuring fresh air flow around the house. High ceilings create wide airy spaces and natural stone flooring can be calming. These minimalist design elements are popular with high end property buyers because it offsets all the stresses in the world.Long hallways, stairwells, awkward columns are space wasters and are usually a huge turn off for these buyers.
·         Luxury is Being Green:High end buyers want to be surrounded by a tropical world populated by exotic species of plants and artifact. They look for waterfalls, lakes, streams and fountains that are distributed throughout the environment. These provide an escape from the Dubai heat and are also pleasing to the eye. 

Considering these factors will bring about some clarity, making you more confident with your ultimate purchase decision. Indigo Properties is a Dubai based real estate developer that excels in villas communities. To know more about Indigo Properties’ latest project, please visit www.zenbyindigo.com

About Indigo Properties
Established in 2004, Indigo Properties is driven by four directors who are passionate about offering the best in design, innovation, excellence and trust. Indigo Properties takes an independent and individual approach to developments, because they understand that each client they are building for is an individual with their own unique needs. This approach is backed by a solid understanding of the creation of beautiful and functional forms, married with years of experience. The company strives for the timely delivery of each project – from personal spaces through to large scale residential and commercial projects by harnessing the energy and intelligence of everyone who works with them.
For further information, please visit: www.indigoproperties.ae

Tuesday, January 13, 2015

UAE produced 2.17 million tonnes of crude steel in 11 months of 2014, becoming region’s third largest producer





UAE produced 2.17 million tonnes of crude steel in 11 months of 2014, becoming region’s third largest producer

Tube Arabia, Metal Middle East and Arabian Essen Welding and Cutting exhibitions generate huge interest

Dubai, UAE, 12 January 2015: Recent figures released by the World Steel Association show that the UAE has produced 2.1 million tonnes of crude steel in the first 11 months of 2014, making the country the region’s third largest producer.

This was highlighted today (Monday, 12 January 2014) on the third day of Metal Middle East, Tube Arabia and Arabia Essen Welding and Cutting (AEWC), the region’s trio of exhibitions for metal, pipes and welding industries.

The exhibitions generated multi-million dollar deals in sale of machineries on the third day, with even higher expectations for the concluding day (Tuesday, 13 January 2015)

Satish Khanna, General Manager, Al Fajer Information and Services, co-organisers of the three mega shows along with the two German giants Messe Düsseldorf and Messe Essen, says: “We are not surprised with the response in three days. Tubes and Metal industries are witnessing accelerated growth, driven by several factors, especially expansion and development of oil and gas operations, infrastructure projects, urban areas and populations.”

“This usually brings benefit to all the allied sectors,” Khanna added. “We have huge expectations for the concluding day, as trade visitors are thronging the venue until the final hours.”

Khanna said: “The UAE is witnessing a rapid population growth and urbanization, along with the expansion of energy-intensive industries. These products form the arteries of societies, transporting water, sewage, gas and crude oil, without which life as we know it would be unsustainable.”

Jeen Joshua, Exhibition Group Manager, Al Fajer Information and Services said: “Today, steel is one of the most common materials in the world. We rely on it for our housing, transport, food and water supply, energy production, tools and healthcare. Nearly everything around us is either made of steel or manufactured by equipment made of steel.”

He added: “According to an estimate, for every newborn baby there is a need for two metres of new pipeline, which is an indicator of the growth potential for these key sectors.”
“We are extremely delighted with the footfall so far for our exhibitions. It is quite unique to have such related shows into one platform, which ensures a larger number of exhibitors coming into Dubai at one time and offer a wider choice to buyers.”
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