Monday, September 1, 2014

Omniyat and Drake & Scull International partner to launch landmark residential project on Palm Jumeirah

Omniyat and Drake & Scull International partner to launch landmark residential project on Palm Jumeirah

Debuting at Cityscape Global 2014, the design of One at Palm is a global effort involving Soma of New York, Super Potato of Japan and Vladimir of Lebanon

Dubai, UAE, 31 August 2014: Omniyat, a leading developer in the Middle East, and Drake & Scull International PJSC (DSI), a major player in the region’s construction industry, have entered into a partnership to build a landmark project strategically located at the entrance of the Palm Jumeirah.

Expected to be one of the most significant projects to make debut at the forthcoming Cityscape Global 2014, One at Palm is jointly developed by both companies and will be managed by Omniyat. The enabling works is due to commence within the next two months.  

Mr. Khaldoun Al Tabari, Vice Chairman and CEO of DSI said: “We are delighted to partner with Omniyat to create a unique landmark on the iconic Palm Jumeirah skyline. Our 48 years’ expertise with high rise tower projects around the world will prove vital to delivering a project worthy of this prestigious location. We are confident that the synergy of our combined experience and Construction capabilities will deliver a new milestone on Dubai’s urban architecture. Omniyat’s track record of developing such high profile projects will complement our regional experience and we hope to enter into similar partnerships in the future.”

Mr. Mahdi Amjad, Executive Chairman and CEO of Omniyat, said: “Omniyat is very excited about developing this magnificent, super-luxury real estate project situated at the entrance of The Palm Jumeirah.”

“We believe this plot is the perfect location to build such an iconic development that will be a global collaboration with inputs from Dubai, Japan, New York and Lebanon. It will definitely stand out on the Dubai skyline,” Amjad added.

He elaborated: “We couldn’t have found a more competent partner than DSI to co-develop this landmark project, given their 48 years of excellence in the construction industry. The combination of DSI’s expertise and Omniyat’s multi-disciplinary leading credentials is set to create an outstanding piece of architecture that will add to Dubai’s list of numerous outstanding world projects.”

“The luxury residential building will be designed by internationally renowned architects Soma from New York, Super Potato from Japan and Vladimir from Lebanon. The building will offer 360-degree breathtaking views, with apartment sizes ranging from 2,500 to 20,000 square feet,” Amjad said. “The finishing will be handled by famed interior designers. The combined expertise of these world-class firms is guaranteed to create a unique, high-end extraordinary development.”

Internationally renowned Japanese design firm Super Potato is known for its sophisticated designs for the interiors of restaurants, shops and hotels. Super Potato's work has had a significant impact on interior design in Japan and around the world.

Vladimir Djurovic Landscape Architecture is engaged in the creation of timeless landscapes through its commitment to drawing out the uniqueness of an environment with simplicity of gesture that gives nature the stage. The firm’s expertise extends from escapist retreats and private residences, to the planning and development of boutique hotels, resorts and public urban spaces.

SOMA is a New York-based firm of architects with a portfolio and expertise in refurbishment and sustainability. SOMA’s work, mainly in New York, Dubai, Qatar, Erbil and Lebanon, covers projects across several industries as well.

Our objective is to maximize shareholders’ value by designing and developing unique and prestigious Real Estate developments,” Amjad concluded.

About Omniyat
Omniyat is a privately held real estate development and service related company established in 2005 and headquartered in Dubai, UAE. It is considered as the most innovative, successful and premium development brand in the Gulf region, conceptualizing and creating real estate assets with a combined gross realization of over AED 12 Billion.  Led by Mr. Mahdi Amjad, Executive Chairman and CEO, Omniyat undertakes investment, development and asset management across a broad spectrum of property assets, providing sustained value and tangible, measurable benefits to all stakeholders involved, including shareholders, buyers and the community. Omniyat works with the world’s best known and most respected architects, specialty consultants and contractors to develop and launch large-scale and iconic properties.

About Drake & Scull International PJSC

Drake & Scull International PJSC (DSI) is a regional market leader delivering world class quality projects via end to end solutions that provide integrated design, engineering and construction disciplines of General Contracting, Mechanical, Electrical and Plumbing (MEP), Water and Power, Rail, Water and Wastewater Treatment, Waste to Energy and Oil and Gas, through People, Innovation, and Passion.

DSI established its first office in Abu Dhabi in 1966, and has since expanded operations to encompass offices in Dubai, Abu Dhabi, Egypt, Kuwait, Oman, Saudi Arabia, Qatar, Jordan, Algeria, Iraq, India, Thailand, as well as managing projects in Europe and other parts of North Africa.

DSI‘s main business streams include Drake & Scull Engineering, which serves as the MEP and Water & Power arm, Drake & Scull Construction (DSC), which is the General Civil Contracting unit, Drake & Scull Oil & Gas, which undertakes oil pipelines and related petrochemical projects, Drake & Scull Rail, Germany based Passavant Energy & Environment which focuses on Water and wastewater treatment as well as waste to energy and Drake and Scull Development, focusing on the Infrastructure sector.

In 2008, DSI offered 55% of its shares to the public and the IPO was oversubscribed 101 times. Ernst & Young ranked the IPO among the top 20 global IPOs in 2008.

DSI has since then used the funds to integrate, establish and acquire businesses that complement its corporate strategy of expansion into new markets, via organic and inorganic growth.

The fully Integrated Management Systems, certified to ISO 9001:2008, ISO 14001:2005 and OSHAS 18001:2007 standards are compliant with leading building, health and safety regulations, as well as sound environmental and energy management procedures.

DSI is a leader through experience, and has established a regional leadership position over 48 years of successfully completing the most complex projects on time, within budgets and matching set quality parameters. DSI has delivered more than 700 projects around the world in the last five decades catering to aviation, residential, mixed use, power plants, district cooling plants, hospitality, healthcare, renewable energy, data centres, petrochemical, rail, commercial, government, leisure, and infrastructure sectors.

Tuesday, August 19, 2014

European property developer Preatoni sets up UAE sales & operations division

European property developer Preatoni sets up UAE sales & operations division

Builder of 2.5 billion worth of tourism and leisure projects in MENA region adopts non-exclusivity policy with UAE sales brokers

Dubai, UAE,  August 2014: Preatoni, the leading European property developer which recently opened Preatoni Real Estate in Dubai, has launched a dedicated sales division to handle the UAE realty market.

The company, which has built tourism and residential complexes, hotels and leisure centers worth 2.5 billion euros in the MENA region, has adopted a non-exclusivity policy with UAE sales brokers, thus opening the doors for all sales agents.

“We are fully geared to unlock the potential of the UAE real estate market in residential, office, retail and hospitality sectors. Our newly established dedicated sales division will work in coordination with other units to drive sales and generate further demand in our projects,” said Edoardo Preatoni, CEO of Preatoni Real Estate.  

“We decided not to appoint any exclusive sales agents for any of our UAE projects with the goal of replicating our success stories in Europe, Baltic and the Middle East. So far, this model is paying off in the UAE market as we work with all brokers and agents to maintain open channels with key players in the market.”

He added: “Property management is our bread and butter. By leveraging our track record with hotels, resorts and other projects, we believe we do a good job of selling a product. Further, long-term investor care figures on top of our priority list, and our financial capability and experience in hospitality make it easier for the sales unit to successfully market our projects to end users as well as investors.”

Preatoni has built high-class tourism and residential complexes, hotels and leisure centers worth 2.5 billion euros in the MENA region, including the Domina Coral Bay Resort in Sharm El Sheikh Egypt.

The company aims to expand its portfolio of residential and commercial complexes through this dedicated arm, which will play an instrumental role in generating further demand for Preatoni’s current and future projects.

Preatoni has regional headquarters in Milano, Italy; Tallinn, Estonia; Villnius, Lithuania; Riga, Latvia; Moscow, Russia; Sharm El Sheikh, Egypt and Dubai, UAE.

Preatoni has recently invested in Dubai Star Tower which is taking shape as a prominent landmark on the Dubai skyline and the company is slated to announce other major projects in the short term.

Preatoni concluded: “This sales unit will work in harmony with other concerned sections at our company. We are confident this move will take Preatoni ahead of competition, driven by the factors like strong track record, investor and client confidence and international profile.”

Monday, August 18, 2014

Runway refurbishment to take Dubai airport’s growth notches up

Runway refurbishment to take Dubai airport’s growth notches up 

 Spotless execution of complicated project on schedule
Effective planning and coordination among stakeholders
High Speed Turnoff (HST) taxiway capacity enhanced

Dubai, 16 August 2014: The refurbishment of two runways at the Dubai International Airport has been carried out with minimal disruptions in flight operations due to a “well-planned” execution of the “complicated” project within the 80-day schedule with all the stakeholders working together with a one-team spirit.
His Highness Sheikh Ahmed bin Saeed Al Maktoum, President of Dubai Civil Aviation Authority (DCAA) and Dubai Air Navigation Services (DANS) had formed a committee comprising of all concerned departments and companies. This committee, under his supervision, laid a ‘perfect’ programme which lead to the successful completion of the project in record time, avoiding any obstacles that could have been caused during the work whilst, documenting the workflow in daily reports.
Mohammed Abdulla Ahli, Director General of Dubai Civil Aviation Authority (DCAA) and CEO of Dubai Air Navigation Services (DANS), said the project involved the up gradation and maintenance of the two runways in the most innovative and effective manner without entailing the complete closure of the flight operations.

“We were told that no other project of this kind has occurred in the history of civil aviation in which the runway refurbishments were made with the least possible impact on normal flight operations,” he remarked. DANS provides Air Traffic Control (ATC), electronic engineering and meteorology services at both Dubai International and Al Maktoum International in Dubai World Central (DWC).
The independently-managed ANSP asserts that the “inspirational” cooperation among the aviation stakeholders about the need for equipping the world’s fastest-growing aviation hub with cutting-edge bigger facilities would go a long way in handling the air traffic which has been consistently growing between five to seven per cent annually, higher than the global average of 3.5 per cent.
Dubai International recorded 6.2 per cent surge in the number of passengers which stood at 34.67 million in first half of 2014 despite over 26 per cent cut in flights during May and June for the refurbishment. Despite the refurbishment project, the airport was able to record its 18th consecutive month of more than five million passengers. 
DANS contributed a significantly big part in the planning of the refurbishment programme by looking at the various flight operation scenarios with the prime aim being the minimal disruption and delays. The project was carried out by the Dubai Aviation Engineering Projects (DAEP) with the other key players being Dubai Airports, Dubai Civil Aviation Authority.
He said: “As Dubai International offers airlines a 24/7 operation, the runway closures were more complex and required meticulously planning. Our inputs were crucial in the planning of the whole project. The average delay was less than five minutes. The northern runway required resurfacing and other modifications to accommodate future traffic. There was a requirement to construct new rapid exit taxiways on the southern runway to boost capacity.”    

Now, the runways are the best in the world to land and take off on with an increased capacity for High Speed Turnoff (HST). HST is a long radius taxiway designed and provided with lighting or marking to define the path of an aircraft, traveling at high speed.
Busy airports typically construct high-speed or rapid-exit taxiways in order to allow aircraft to leave the runway at higher speeds. This allows the aircraft to vacate the runway quicker, permitting another to land or depart in a shorter space of time. The ICAO rapid exit taxiway design speed is 50 knots (93 kmph) for Code 3 and 4 aircraft for exit speeds under wet conditions.  The aircraft usually travels slower when it exits – the nominal turnoff speed is 30 knots for Code 3 and 4.
For flight operations, authorities have four peak hours 24/7 at the Dubai International Airport and an average of 33 arrivals are handled in an hour. DANS aims to increase it to 45 by the year 2016 as part its 10-year strategy plan that has been in the works.
A slew of projects are on the anvil that would enable DANS to handle the anticipated growth in air traffic in Dubai and to decongest and restructure the airspace that has been labeled as one of the most congested in the world.  The UAE airspace system currently handles approximately 600,000 movements a year. By 2025 it needs to accommodate the range of 1.2 million movements.  

Seven Tides launches deferred payment plan for limited number of Anantara Residences

Seven Tides launches deferred payment plan for limited number of Anantara Residences

Attractive buy now, pay later scheme launched as UAE luxury developer targets GCC investors with final payment hiatus proposition

Investors interested in buying units within the luxury Anantara Residences Palm Jumeirah community from Seven Tides will have the opportunity to take advantage of a new nine month deferred payment plan.

A limited number of one and two-bedroom apartments have been made available in the North and South Residences following the successful sales performance of an earlier release of South Residences in May 2014.

The 20/80 payment plan requires a minimum 20% deposit of the total unit price with the balance deferred for nine months from date of purchase, allowing buyers to take immediate possession of their new home with developer Seven Tides covering all service charges for the period covered.

“Investors will be able to see an immediate return on their investment, especially with the benefit of up to nine months’ deferred payments, on the remaining balance. This targets the smaller independent investor who may have the capital to secure a property, but need more time to fund an outright purchase,” said
Abdulla Bin Sulayem, CEO, Seven Tides.

An investor-led product with a positive outlook in terms of capital appreciation, buyers have several options when looking at maximising the return on their investment including the ability to resell the property once it is fully paid for, or alternatively enter the hotel’s rental programme after the nine month period.

The hotel-managed rental yield is certainly an additional benefit to be considered for investors, given the comparative rental prices with a normal residential unit. A one-bedroom apartment is AED 2.7 million and a Palm Jumeirah Shoreline apartment of similar size (1,184 square feet), in the Jash Falqa building is on the market for approximately the same amount. According to property experts Asteco, Shoreline apartments command an annual rental rate of approximately AED 150,000.

“In comparison, the Middle East Cities Hotel Forecast 2014-15 report from PwC expects a 4.7% increase in the average daily rate for a hotel room in Dubai this year, with a figure of AED 936.10,” added Bin Sulayem.

Investors will be drawn to the appeal of a hotel room, or indeed a residence with access to five-star resort hotel facilities, which could generate a maximum annual rental income of as much as AED 273,341 if hotel occupancies mirror the 2013 average of 80%. This is just under double the AED 150,000 a comparative apartment realises on an annual basis, this rental yield will then be put towards the balance of the unit price,” he remarked.

Residence home-owners will also have exclusive access to the Anantara Dubai Palm Jumeirah, Resort & Spa. The hotel facilities available include a gym, 107,600-square feet of temperature controlled lagoon pools, a signature spa plus six dining and entertainment venues.

Anantara Residences is a collection of 442 luxury apartments and 14 penthouses are fronted by a private stretch of white sand beach with all residences enjoying spectacular panoramic views of the Arabian Gulf, Atlantis hotel, Burj Al Arab and the Dubai Marina skyline.

About Seven Tides

Based in Dubai, the United Arab Emirates, privately owned Seven Tides is an internationally oriented holding company established in 2004. Currently focusing on hospitality and real estate sectors, Seven Tides thinks progressively, works creatively, partners strategically and acts quickly. The result is a current portfolio of offerings from landmark hospitality acquisitions and commercial buildings to residential towers and multi-use complexes in the gateway cities of London and Dubai.

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