Saeed Al Qatami appointed Acting CEO of Deyaar

Saeed Al Qatami appointed Acting CEO of Deyaar

Dubai, April 8, 2010: Deyaar Development PJSC, a regional real estate company dedicated to innovation, customer care and long-term sustainability, announced today the appointment of Saeed Al Qatami as Acting Chief Executive Officer. The appointment is part of an ongoing management restructuring being undertaken in line with the company’s long-term strategic objectives.

Deyaar made this announcement following a resolution by the company’s Board of Directors approving the appointment of Al Qatami to this position, while also approving the dismissal of the previous Chief Executive Officer, Markus Giebel, with immediate effect.

Al Qatami, who has served at Deyaar since 2007, most recently held the title of Vice President – Business Development at the Dubai-headquartered property developer. In that role, he was primarily responsible for developing Deyaar’s business portfolio in the UAE. Al Qatami previously held a range of managerial positions at Dubai Islamic Bank, including Head of Wealth Management. Earlier, he served at Standard Chartered Bank in the UAE.

About Deyaar:
Deyaar Development PJSC is one of the leading real estate companies in the region. Headquartered in Dubai, the company has grown significantly since its inception to evolve into a complete one-stop real estate solutions provider. Today, Deyaar stands at the forefront of the regional real estate sector, with interests in real estate development, property and facilities management, marketing and sales. Deyaar’s strategic solutions and deep market insights have helped create exceptional value for its investors. The company currently manages over 16,000 commercial and residential properties. Its operations are divided across four key business units, vis-à-vis, property development, lease management, asset management, and fund management divisions. Deyaar is well positioned to play a pivotal role in the development of the region's property landscape. The company complies with the Escrow legislation and all relevant property laws in the UAE. Deyaar is registered with the Real Estate Regulatory Authority under reference number 15/07.

JLT landscaping progress,Jumeirah Lakes Towers, Dubai

H. H. Sheikh Hamdan Bin Mohammed Bin Rashid Al Maktoum awards certificate for ‘Dubai Quality Appreciation Programme’ to Danube Building Materials

H. H. Sheikh Hamdan Bin Mohammed Bin Rashid Al Maktoum awards certificate for ‘Dubai Quality Appreciation Programme’ to Danube Building Materials

Chairman Rizwan Sajan accepts recognition for company’s ‘excellence model’

April 07, 2010

H. H. Sheikh Hamdan Bin Mohammed Bin Rashid Al Maktoum, Crown Prince of Dubai, handed over a certificate for the ‘Dubai Quality Appreciation Programme’ (DQAP) to Danube Building Materials, the leader in construction, building materials and shop fitting industries, at a ceremony held today (April 07, 2010) at the Grand Hyatt Dubai. Danube Chairman Rizwan Sajan, and Managing Director Anis Sajan received the award in recognition of Danube’s ‘excellence model’, which covers the organisation’s activities as well as its achievements, and is the criteria by which the awardees are judged upon.

Securing the DQAP certification for the first time, Danube credits its excellent leadership, dynamism in strategy, growth in terms of people and partnerships, as well as it expanding resources for bagging the award. Within the last five years, Danube has registered exponential growth in revenues, which has exceeded AED 1 billion in 2009, an investment of AED 100 million in the expansion of the ‘Danube BUILDMART’ concept across the GCC, and the addition of 350 staff during the height of the recession.

Speaking at the sidelines of the awards ceremony, Rizwan Sajan said, “We are very proud to have been given this recognition, which further affirms our commitment towards excellence and to the region. This award is also a remarkable motivation for us to continue our efforts to secure further growth in terms of our manufacturing capabilities and expand our retail presence in the region amidst our plans to launch 10 new ‘BUILDMART’ branches this year.”

An initiative of the Department of Economic Development, the ‘Dubai Quality Award’ aims to provide organisations with a ‘roadmap’ to achieve excellence through the adoption of good practices and soundly-based approaches that are deployed systematically and are continuously measured and reviewed. The methodology and main criteria of the award are encapsulated in a model that provides organisations with a tool to benchmark performance and document existing gaps. Providing a holistic framework for organisational excellence, the award, which is based on the Excellence Model of the European Foundation for Quality Management (EFQM), represents role model organisations in the sectors they operate in.

“We are committed to upholding the integrity of the ‘Dubai Quality Appreciation’ certification by ensuring that we satisfy all the stringent requirements set for this prestigious honour. We wish to thank the Department of Economic Development for this award, and we are looking forward to undertaking further initiatives to enhance our processes and the value we provide to our customers, which would hopefully merit more recognition in the future,” concluded Anis Sajan.

About Danube Building Materials FZCO
Established in 1993, Danube Building Materials FZCO provides more than 15,000 products in stock and in-house value added services in all of its 14 showrooms across the UAE. The company operates from its head offices – a 285,000 square foot facility in Jafza north and a 365,000 square feet base in Jafza south, which houses its logistics centre, kiln drying facility, factory and warehouses. From a small trading firm, Danube has grown into one of the largest building materials company in the region, with 18 branches worldwide - 13 in the UAE, 2 in Oman, 1 each in Bahrain, Saudi Arabia and India, in addition to procurement offices in China and Canada. Danube has a team of 1000 people working from strategic locations in across the Emirates, including Jebel Ali, Deira and Abu Dhabi. The company has been and is currently involved in major projects across the UAE, Oman and Bahrain, including Emirates Hills, the Burj Al Arab, Shangri-La Hotel, Grand Hyatt, Motor City, Burj Dubai, Dubai Airport Terminal 3, Yas Island, Reem Island, Saadiyat Island, and Al Raha Beach Hotel, among others.

TASWEEK Real Estate Marketing & Development evaluates AED 1.5 billion Abu Dhabi & Dubai investments

TASWEEK Real Estate Marketing & Development evaluates AED 1.5 billion Abu Dhabi & Dubai investments

Healthcare & Retail developments could be added to portfolio soon

April 7, 2010

TASWEEK Real Estate Development and Marketing, an Abu Dhabi-based advisor and solutions provider serving the local and the Middle East real estate markets, has evaluated and completed due diligence on properties in Abu Dhabi and Dubai worth AED 1.5 billion in total. The projects have the potential to bring in a minimum net income profit of AED 300 million for the company over a period of three years. All projects within the portfolio must be classified and qualified as trophy assets that have components of Location, Facilities, Amenities and Quality which makes them fundamentally strong assets.

The portfolio contains Residential assets (35 per cent), Commercial (30 per cent) and Hospitality (35 per cent), with value per property ranging from AED 40 million to AED 450 million It involves a total of AED 500 million in financing and AED 1 Billion in equity . Dubai projects form the majority of the investment opportunities at 60 per cent, with Abu Dhabi developments accounting for 40 per cent.

The TASWEEK real-estate development and marketing brand of real estate has been gaining greater market acceptability due to the company’s focus on robust business acumen and market knowledge. The company has been undertaking due diligence and intense research for the portfolio buildup worth USD 250 million which was announced last October 2009 and will be executed over the coming 12 months. TASWEEK is basing its selections on location, facilities, amenities, quality, and income-bearing assets and is concentrating on the UAE market which continues to offer one of the highest yields in the region.

“We are being extra careful with our project choices given the numerous investment opportunities currently available in the markets. Although we have significantly enhanced our capability to attract offers and proposals, we want to maintain our momentum without compromising the quality of our portfolio. We are also aiming for a diverse lineup of properties that can cater to unique residential and commercial needs,” said Masood Al Awar, CEO, TASWEEK Real Estate Development and Marketing.

Healthcare and education developments are also being eyed for the TASWEEK portfolio, which is also open to other greenfield projects within the growing sector of real estate.
TASWEEK is currently exploring strategic location properties in Abu Dhabi and Dubai as part of the multi-million dollar property portfolio that will generate a return on investment of at least 10 per cent. The private joint stock company’s expertise covers Strategic Assets Acquisitions; Asset Management; Joint Ventures and Strategic Alliances; and Marketing Consultancy.

About Tasweek:

Tasweek, a provider of comprehensive real estate development solutions for the UAE and the broader Middle East, leverages over 20 years of extensive experience in valuations, design, and real estate marketing across the UAE, GCC and MENA regions. The private joint stock company draws on its involvement in managing the properties of over 25,000 customers to ensure enhanced client satisfaction in the delivery of a diverse range of services, throughout all stages of the real estate development's lifecycle.

Through its two core competencies of knowledge and networking, Tasweek is highly capable of introducing clients to the right people, creating vital links between industry movers and players, and developing ideas to successfully bring properties to market.

JLT lake progress,Jumeirah Lakes Towers, Dubai

Swiss Tower,Jumeirah Lakes Towers,JLT, Dubai

Public-private partnerships to lead the way in multi-billion dollar infrastructure projects, say organisers of CityBuild Abu Dhabi

New strategies to survive the construction slowdown

Public-private partnerships to lead the way in multi-billion dollar infrastructure projects, say organisers of CityBuild Abu Dhabi

The financing of major multi-billion dollar infrastructure projects such as roads, railways, electricity, water and universities in the Middle East is likely to be driven in future by increased use of public-private partnerships, according to industry observers.

“The fact is that international investors are finding it tough to secure traditional infrastructure project funding in today’s new world economic climate,” says Graham Wood, Group Director of CityBuild Abu Dhabi, a new trade show for the region’s building and construction industry from 18-21 April 2010 at the Abu Dhabi National Exhibition Centre.

Since 1995, project finance deals have been completed around the world totaling more than $1.5 trillion but global activity dropped by 40% in 2009 as funding costs made long-term finance scarce and expensive.

“The construction boom may have slowed down within the Arabian Gulf, now with a more considered approach to development, but there are still about $114 billion worth of construction and infrastructure projects due to be awarded over the next 12 months,” Wood added. “In addition, the market is being driven by projects in Abu Dhabi. Presently the UAE capital accounts for more than half of the top ten infrastructure projects by value, in the Gulf.”

CityBuild Abu Dhabi will bring together industry suppliers, manufacturers, distributors, architects, engineers, importers and procurement decision makers and is being staged alongside Cityscape Abu Dhabi, the international real estate investment and development event. As part of the Construction Summit at CityBuild Abu Dhabi speakers will address the challenge of developing strategies for surviving the construction downturn, as well as maximising competitiveness and utilising alternative funding models.

“Abu Dhabi is already leading the way in private financing to pay for infrastructure,” said Wood. “It is using public-private partnership (PPP) funding methods with the new campus at Al-Ain University and the new Paris-Sorbonne and Zayed Universities in the capital.”

PPP funding works on the basis of the government agreeing to payments over the life of a contract or 20 or 30 years with the contracting consortium investing initial capital expenditure – though in this case the Abu Dhabi government has taken an equity stake in the special project vehicle set up by the consortium.

“The PPP approach is also being used on a highway through Abu Dhabi to the UAE’s border with Saudi Arabia and other Gulf countries such as Qatar and Bahrain are looking at the using the system,” he added.

“In addition, a whole range of new trends are emerging in the region’s construction sectors as businesses assess the impact reduced client finances are having on budgets, tenders and supplier criteria. Margins are under pressure with contractors and consultants being squeezed to achieve better value and there is tighter due diligence than before as organisations attempt to reduce risk.”

Industry advisers are also urging a back to basics risk management approach when it comes to project financing. “The inherent risks faced by construction firms in the Gulf region over the past three to four years demonstrate how important a risk management plan is to a contractor,” said Cynthia Corby, Audit Partner, Construction Industry Leader, for Deloitte in the United Arab Emirates, in a recent report.

“In the current economic environment, it is important to get back to the basics of risk management by focusing on understanding the project owner’s requirements and resources, cost management tracking systems and cash flow management and thereby focusing on the fine balance between risk and reward.”

The founding sponsor of CityBuild Abu Dhabi is Kludi RAK. The Summit’s sponsors include; BASF’s Construction Chemicals and KNAUF Drywall Systems division. The event is also supported by the Chartered Institute of Business (CIOB), Building Smart Middle East, Donate a Brick, Emirates Environmental Group, the Middle East Drymix Mortar Association and the UAE Contractors’ Association.

Vision Tower, Business Bay, Dubai

Emirates Park Towers Hotel and Spa, Business Bay, Dubai

Bay View Tower, Business Bay, Dubai