Parallel Roads Project at Business Bay set for completion in mid 2011 – RTA

Parallel Roads Project at Business Bay set for completion in mid 2011 – RTA

Al Tayer: RTA has completed two phases of the Parallel Roads Project
Roads & Transport Authority – Mohammed Al Munji:

H.E. Mattar Al Tayer, Chairman of the Board & Executive Director of the Roads & Transport Authority (RTA), confirmed that work is progressing in the Parallel Roads Project at the Business Bay area and the project is set for completion according to the approved schedule in two phases; the first to be completed in the first half of 2011 and the second phase to be completed by the end of 2011.

Al Tayer made this statement during a site tour of the project which is considered a key part of the Parallel Roads (to Sheikh Zayed Road) Project which comprises the construction of two new parallel corridors in the area between Sheikh Zayed Road and Al Khail Road; namely the Eastern Parallel Road and the Western Parallel Road. These two roads branch out of Sheikh Rashid Road in the north and extend southward to terminate at the outskirts of Abu Dhabi Emirate. These road sectors which extend 108 km, comprise bridges and intersections at the junctions with perpendicular roads with a total length of 42 km.

Due to the massive nature and expanse work scope of the vital Parallel Roads Project, construction works have been divided into ten phases; some of them have been completed, and others underway while four phases are still under the initial design, final design or tendering process.

During the tour Al Tayer was accompanied by the CEO of Public Transport Agency Essa Abdul Rahman Al Dosari, Director of Roads Nabeel Mohammed Salih and several directors and engineers at RTA Traffic & Roads Agency.

At the start of the tour, Al Tayer was briefed on the work progress in this phase of the project which costs about 84 million dirham and aims to complement the internal roads at the Business Bay district in an area located between Sheikh Zayed Road in the north, Meydan Road in the west, Financial Center Road in the east and Al Khail Road in the south. The project comprises the construction of roads extending 6 km to link the parallel roads with the internal roads of the Business Bay to ease the traffic flow in the area in addition to the construction of road linking up with Al Khail Road. The Project also comprises the construction of a 200-meter long bridge, 12 light signals and storm water drainage network.

The Chairman of the Board and Executive Director of the RTA inspected the work progress in Phase II of the Project; which costs about 214 million dirham and comprises the construction of roads extending 16 km, a 600-meter long bridge, 7 light signals and storm water drainage network.

“The Parallel Roads Project is one of the mega projects undertaken by the RTA and its first phase comprises the construction of bridges leading to Al Maktoum and Al Garhoud Bridges involving the construction of two main bridges through using precast concrete slabs in a sector extending 4236 meters in length and 15 meters in length with two lanes in each direction. The Project serves the traffic movement from Sheikh Rashid bin Saeed Road at Lamcy Plaza to 313 Road opposite to the World Trade Center. It also serves the traffic in the opposite direction from 313 Road opposite to the World Trade Center to Al Maktoum and Al Garhoud Bridges as well as Dubai – Al Ain Road. The project comprises improvement of the traffic signals at the World Trade Center, infrastructure works and lighting works.

“The completion rate has almost reached 90% in Phase III (B) extending from a point near Emirates Hills across large urban communities such as the immediate vicinity of Jebel Ali Racecourse, Emirates Hills, Springs, Meadows, Jumeirah Islands and Jumeirah Park. The road which extends about 20 km accounts for 14% of the total length of the Parallel Roads Project, comprising three to four lanes in each direction. The Project, which is being undertaken by Al Naboodah Construction Co, includes the construction of six bridges, and three underpasses at the back of the Eastern & Western Roads, in addition to several construction works covering utility lines, pavements, road signage & marking, lighting, sewage water, rainwater drainage and landscaping.

“The completion rate has reached about 60% in Phase III (A) at Jumeirah Lakes Towers; which links property complexes of Emaar and Nakheel companies in the area to the south of Sheikh Zayed Road between Interchanges 5 and 5.5. The Project, which is constructed by the Italian Todini Co, includes the construction of a 10-km long road of 3 lanes in each direction, 7 separate bridges, and one tunnel. This Phase, which accounts for 7% of the total Parallel Roads Project, also includes construction-related activities such as utility lines, pavements, signage, road marking, lighting traffic diversion, and the protection of the existing utility lines.

“The Contractor of the first contract of the Parallel Roads Project is nearing completion of the contract works which include construction of roads at Al Barsha, Al Qouz Industrial & Residential Areas stretching from Hissa Road in the south up to Meydan Road in the north in a total length of 15 km in the Eastern Parallel Road and 18 km in the Western Parallel Road. The roads comprise three lanes in each direction and several intersecting arterial and express roads such as Umm Suqeim Road, Latifa bint Hamdan Road and others. It also includes 25 signalized junctions in addition to other related road works such as irrigation, sewage, lighting and signage.

“The completion rate has hit 55% in Phase IV of the Project which serves Jebel Ali Free Zone, and Al Maktoum Airport. It comprises the construction of roads extending 22 km with two lanes in each direction of the Eastern and Western Parallel Roads,” said Al Tayer in a concluding remark.

Captions:
- Mattar Al Tayer attending to a briefing about the work progress in the project.
- Work in the project progresses according to the approved schedule.

Dubai Metro shapes into a super transit means, attracts more passengers

Dubai Metro shapes into a super transit means, attracts more passengers


Roads & Transport Authority – Nashwan Attaa’ee:

Since the foundation stone of the Dubai Metro was laid down through the launch of the project on 09/09/09, the Rail Agency at Roads & Transport Authority (RTA) had paid every attention to the provision of all facilities & potentials to provide classy services to the metro passengers whether at stations or on board the trains in order to make this mode the first choice of all public transport users in Dubai Emirate, as well as the safest, most convenient and enjoyable transit mode in the daily travels of commuters.

The Director of Rail Operation, RTA Rail Agency Ramadan Abdullah, said: “The daily ridership of the metro is currently over 140 thousand passengers i.e. in excess of 4,020,000 passengers per month. This number is quite important when we take into consideration that the period of the metro operation has yet to complete 15 months, so it says a lot to see all these passengers from all community segments, whether residents or visitors, uptake this mass transit mode; which also reflects the associated benefits that contribute to diffusion of using public transport culture among the public.

“The resounding success so far made by the Dubai Metro is viewed as a result of the sound strategies and ambitious plans developed by the RTA and implemented by unsung heroes who are make tireless efforts to the serve metro passengers and their efforts are now culminated in a public upswing to use the metro albeit being unaccustomed to using public transport modes.

“On November 1st, the day designated by the RTA as a Public Transport Day offering the public free ride on all public transit modes including the metro, public buses and the water bus for 24 hours, the metro has lifted 206 thousand passengers compared to 140 thousand passengers on normal days i.e. a 47% rise in the metro ridership. Though the RTA has stipulated that benefiting from this free-ride day is offered to Nol card holders for organizational and statistical purposes, such an increase in the ridership reveals that many people have cared to obtain Nol cards to experiment the use of public transport means including the metro; which is another evidence of the growing culture of using public transport among residents of the Emirate.

“It is anticipated that the number of metro riders will top 170 thousand passengers per day by the end of 2010, meanwhile RTA is working closely with the metro operator to cope efficiently with any increase in the number of metro riders through addressing all aspects of safety which ranks high on the RTA priorities. It also seeks to provide comfortable & enjoyable ride, and minimize the service frequency in addition to the provision of a healthy atmosphere & facilities for special needs passengers, fitting the trains with wireless internet and the provision of directional signage. Additionally, RTA provides fine services at the stations which are characterized by sizable area & fabulous designs combining modernity & tradition in a convenient and safe setting. Furthermore, the Dubai Metro, with all its stations and facilities, is becoming a point of attraction to tourists and visitors pouring in from all over the world, and is making a substantial addition to the services sector; which plays a crucial role in boosting the tourist profile of the Dubai Emirate.

RTA celebrates 39th UAE National Day in style

RTA celebrates 39th UAE National Day in style

RTA Head Office decorated by a wall size poster of HH the President

Roads & Transport Authority – Nashwan Attaa’ee:

The Head Office of the Roads & Transport Authority (RTA), as well as other affiliated offices, public transport means and associated facilities across Dubai Emirate have all been dressed up in an elegant fashion with fabulous portraits of HH Sheikh Khalifa bin Zayed Al Nahyan President of the UAE, and HH Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, besides other manifestations exhibiting the joyful and cheerful festive atmosphere in celebration of the 39th National Day of the UAE.

Commenting on the event, RTA Director of Marketing & Corporate Communication Peyman Younes Parham, said: “Every year RTA shows its keen attention on turning out itself in a magnificent outfit in celebration of this happy occasion close to the hearts of all citizens, residents and visitors hailing from different sister and friendly countries.

“This year, RTA’s celebrations of the National Day are characterized by a colourful array of events manifested in portraits and posters displaying the theme of this year’s celebrations (Kullunna Khalifa). Festivities are also visible on the new and old Head Offices of the RTA, as well as Public Transport and Dubai Taxi Building, metro stations, bus stations and marine transit means stations.
“Decorations have also included the external glazed façade of RTA Main Customer Service Center at RTA’s old Head Office, and the external glazed front of Deira Licensing Center as well as internal decorations of Deira, Umm Al Ramool, Al Barsha and Al Awir Centers.

“RTA Marketing & Corporate Communication Dep’t has also inserted the National Day celebration theme in all e-mail messages, as E-Mail Banner, and also posted the same on RTA’s official website. The Dep’t has also campaigned these celebrations in the electronic social networks (Facebook and Twitter) through inserting video clips and images depicting the activities held across the RTA together with the associated events,” said Peyman.

He added: “RTA’s festivities also included decorating 5 traditional abras operated at the Global Village, and holding traditional and folklore shows at RTA Head Office presenting popular and traditional songs and events.
“RTA has also made a pouch for keeping Nol Cards carrying an image of HH the President and the theme of the 39th UAE National Day celebrations. It also designed a logo for this day and distributed it among the buyers of Nol cards as well as clientele of Customer Service Centers and Licensing Centers” said the Director of RTA Marketing & Corporate Communication in final remark.

RTA celebrates 39th UAE National Day in style

RTA celebrates 39th UAE National Day in style

RTA Head Office decorated by a wall size poster of HH the President

Roads & Transport Authority – Nashwan Attaa’ee:

The Head Office of the Roads & Transport Authority (RTA), as well as other affiliated offices, public transport means and associated facilities across Dubai Emirate have all been dressed up in an elegant fashion with fabulous portraits of HH Sheikh Khalifa bin Zayed Al Nahyan President of the UAE, and HH Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, besides other manifestations exhibiting the joyful and cheerful festive atmosphere in celebration of the 39th National Day of the UAE.

Commenting on the event, RTA Director of Marketing & Corporate Communication Peyman Younes Parham, said: “Every year RTA shows its keen attention on turning out itself in a magnificent outfit in celebration of this happy occasion close to the hearts of all citizens, residents and visitors hailing from different sister and friendly countries.

“This year, RTA’s celebrations of the National Day are characterized by a colourful array of events manifested in portraits and posters displaying the theme of this year’s celebrations (Kullunna Khalifa). Festivities are also visible on the new and old Head Offices of the RTA, as well as Public Transport and Dubai Taxi Building, metro stations, bus stations and marine transit means stations.
“Decorations have also included the external glazed façade of RTA Main Customer Service Center at RTA’s old Head Office, and the external glazed front of Deira Licensing Center as well as internal decorations of Deira, Umm Al Ramool, Al Barsha and Al Awir Centers.

“RTA Marketing & Corporate Communication Dep’t has also inserted the National Day celebration theme in all e-mail messages, as E-Mail Banner, and also posted the same on RTA’s official website. The Dep’t has also campaigned these celebrations in the electronic social networks (Facebook and Twitter) through inserting video clips and images depicting the activities held across the RTA together with the associated events,” said Peyman.

He added: “RTA’s festivities also included decorating 5 traditional abras operated at the Global Village, and holding traditional and folklore shows at RTA Head Office presenting popular and traditional songs and events.
“RTA has also made a pouch for keeping Nol Cards carrying an image of HH the President and the theme of the 39th UAE National Day celebrations. It also designed a logo for this day and distributed it among the buyers of Nol cards as well as clientele of Customer Service Centers and Licensing Centers” said the Director of RTA Marketing & Corporate Communication in final remark.

Memon Investments launches ‘show apartment’ at AED 145 million ‘Champions Towers III’ project

Memon Investments launches ‘show apartment’ at AED 145 million ‘Champions Towers III’ project

Leading property developer showcases fully - furnished model to give customers a look at project’s world class features and amenities


December 1, 2010

Memon Investments, a leading Dubai-based property developer and part of the international business conglomerate, Shaikhani Group, has launched a model apartment at ‘Champions Towers III (CT III),’ a AED145 million high profile residential development project designed by leading design and engineering firm, Adnan Saffarini. The move is part of a strategic marketing initiative that aims to give existing buyers a realistic view of the apartment model. The leading property developer has prepared a fully furnished unit, complete with furniture, lighting fixtures, appliances and accessories; giving customers a look of the model apartment’s world class design, features, amenities and accompanying facilities. CT III is part of the company’s AED1.34 billion portfolio mainly consisting of high profile residential projects that include ‘Frankfurt Sports Towers’ and the ‘Champions Tower’ series (CT I, CT II, CT III and CT IV).

The model unit currently displays furniture from well known, furniture and home accessories brand to give customers a feel of the apartment’s spacious and airy design. The apartments have been designed to match today’s fast paced lifestyle, which is a lively mix of key luxuries as well as adorned conveniences. The ‘show apartment’ also aims to highlight CT III’s key offerings like spacious interiors, fine marble lobby, three high-speed elevators, basement and ground covered floor parking, concierge and valet services, health and wellness facilities, 24-hour manned security and an in-house maintenance team. The 15-storey tower stands on a total built-up area of 283,672 square feet with 254 units composed of studios, one bedroom and two bedroom apartments. The tower aims to promote a healthy lifestyle among its future residents with the availability of a juice bar, health club, swimming pool, gym, sauna and steam room.

“The opening of our new ‘show apartment’ is part of Memon Investment’s move to create a more interactive and customer centric marketing approach at highlighting the units of our ‘Champions Towers III’ project,” said Ahmed Shaikhani, Managing Director, Memon Investments. “Inviting our customers to come and see our model apartment allows us to provide them with a more realistic view of the apartment—furniture and interior wise, the facilities and amenities present and what to see and do within the gated community, which will help them in their decision to invest in a CT III apartment.”

The move to launch a ‘show apartment’ for CT III follows after the leading property developer’s recent reports that CT II and CT III are steadily approaching completion—the tower’s external structure fully completed with the continuing internal work and block work expected to meet its scheduled deadline. CT III also boasts of its excellent location that is both premium and serene--where residents have easy access to world class stadiums, academies, educational, religious and healthcare facilities, restaurants, cafés and a sports themed mall that have all been built within Dubai Sport City’s gated community. The rapid pace of construction and development underlines Memon Investment’s commitment to finishing the project in time; turning over the keys to CT III’s first occupants on the third or fourth quarter of 2011.

“Memon Investments remains steadfast in its commitment to provide our customers with a luxury lifestyle that embodies the elements of comfortable living, access to world-class facilities and amenities and the confidence of living in a safe and secure community. We are confident that our key development projects like Champions Towers I, II and III will be able to meet our client’s expectations and requirements—even surpassing them with the promise of the best services and facilities that a world class developer like us can offer,” concluded Shaikhani.


About Memon Investments LLC
Founded as the property development arm of the international business conglomerate, the Memon Group of Companies, Memon Investments has grown to become a leading property player in the region offering a diversified portfolio of premium property projects. Guided by a tradition of excellence, the developer’s intense focus lies within its core competencies, specifically acquisition, design and development, consultancy, leasing and management of properties. Leveraging the Memon Group’s extensive real estate development experience, Memon Investments’ UAE portfolio comprises of prestigious residential projects including ‘Champions Towers I, II, III, and IV’ and ‘Frankfurt Sports Tower I’ in Dubai Sports City; ‘Gardenia I & II’ in Jumeirah Village, and its inaugural commercial venture - ‘Cambridge Business Centre’ in Dubai Silicon Oasis, all of which embody the developer’s trademark top-notch quality and uniqueness.

Having delivered over 30,000 units across the globe with a presence in 90 countries spread across Asia, Africa, Middle East and Europe, the Memon Group of Companies is presently commemorating its 30th year of delivering unique offerings and services to its global customers. In addition to its extensive expertise in the real estate market, the Group has also built a strong reputation for its unwavering support for various causes such as poverty alleviation, environmental conservation and academic development. As a socially-aware international corporation, the Group has devoted 19 years in support of the Rabia Charitable Foundation and the Rabia Relief Fund.

DTCM to hold series of events at Burj Khalifa observation deck to mark country’s 39th National Day

DTCM to hold series of events at Burj Khalifa observation deck to mark country’s 39th National Day

November 30, 2010

Dubai Department of Tourism and Commerce Marketing (DTCM) has chosen to launch its activities to mark the UAE’s 39th National Day from the Top observation deck of Burj Khalifa. DTCM’s commemorative activities will be held on December 1 and 2, 2010.
“For the third year in a row DTCM is organising events to mark the country’s National Day, in line with the directives of Dubai Government that all government departments should coordinate to organise National Day celebrations. DTCM in particular has been focused on preparing an innovative and exciting events program each year for UAE nationals, residents and visitors,” said Nasser Juma, Head of Organising Committee for National Day Events and Activities.

“From the moment we started preparing the agenda for this year’s National Day festivities, we had plans of having events on top of Burj Khalifa. Accordingly we contacted the management of the tower and they readily welcomed the idea and agreed to extend their total support to DTCM to make this event a reality and offer something new and exciting to the public,” he added.

Nasser Juma also pointed out that the commemorative program covers a wide variety of activities that will also involve active participation from the public. This year’s event agenda includes a presentation about UAE’s culture and Arab hospitality depicted through mockup traditional houses, and also traditional furniture, clothes and jewellery. There will also be a dedicated calligraphy corner.

“Other events include a number of activities in Jumeirah Beach Residence (The Walk), where DTCM will be holding National Day celebrations for the second year running. Last year's celebration featured a miniature traditional village in which details of UAE’s history and past lifestyle were depicted. Various competitions and activities were also held on the sidelines which were appreciated by the public,” added Juma.
“This year we decided to repeat The Walk experience but in a different way. We will have the mockup traditional houses displayed along The Walk, in addition to Yola dances and national dance performances. Also, visitors can enjoy henna painting and calligraphy, while there will also be a "Ask about my Cultural Heritage" event where visitors can find out more about the country’s culture and traditions, both in Arabic and English,” he explained.

DTCM’s Aisha Mohammed Bin Tayeb further pointed out that as part of the celebrations DTCM is supporting families under the Dubai Women's Association National day program, held recently in cooperation with Hoor Center for Girls.

“We coordinated with the management of Burj Khalifa to ensure that all our events turn out as planned. All the activities being held at Burj Khalifa will complement the public perception of the tower and will befit its status as the world’s tallest building, which also offers panoramic views of Dubai,” added Bin Tayeb.

Sabiha Majid Al Youha, Committee Member said that at Burj Khalifa the public may enjoy the fastest elevators in the world, use special telescopes, get a bird’s eye view of Sheikh Zayed road from the observation deck, take great photos and buy souvenirs for friends and family.

Ticket prices for entry to the observation deck at Burj Khalifa are AED 100 for adults, AED 75 for children aged 4-12 years, while infants and children below four get free entry. Official opening hours of the tower are 10 am – 10 pm Sunday to Wednesday, and 10 am to 12 am Thursday to Saturday. There is ample parking available for visitors, and there are adequate facilities for people with special needs.

RTA opens Phase 4 of Dubai Bypass Road linking up with Al Faya Road, Abu Dhabi

RTA opens Phase 4 of Dubai Bypass Road linking up with Al Faya Road, Abu Dhabi

Al Tayer: The project, which extends 71 km from Sharjah to Abu Dhabi outskirts, provides alternative corridor to Emirates Rd & Sheikh Zayed Rd without driving through downtown area

Roads & Transport Authority – Mohammed Al Munji:

The Roads & Transport Authority (RTA) has yesterday opened Phase 4 of the Dubai Bypass Road linking up with Al Faya Road, Seih Shuaib, Abu Dhabi, better known as ‘Trucks Road’. This Phase, which also serves Al Maktoum International Airport, comprises a sector of six lanes in each direction stretching 25 km from the interchange of Dubai Bypass Road – Jebel Ali Lihbab Road up to Al Faya Road, Abu Dhabi Emirate. The sector has 3 camel crossings, also used as turn points and all service utility works have been completed along with the lighting poles.
H.E. Mattar Al Tayer, Chairman of the Board and Executive Director of the RTA said: “By opening Phase 4, RTA has completed all phases of the Dubai Bypass Road, starting from the environs of Sharjah Emirate at Al Sajaa Interchange and terminating at the exit point from Dubai Emirate to Abu Dhabi Emirate, in a 70 km-long sector constructed at a cost in excess of one billion dirham.

“The Dubai Bypass Road is a key traffic corridor in the structural roads network plan undertaken by the RTA and offers an alternative motorway to Emirates Road and Sheikh Zayed Road as it provides an external corridor for motorists inbound from Northern Emirates and outbound to Abu Dhabi Emirate and vice versa without having to go through downtown area. By opening Phase IV, RTA has completed the opening of all phases of the Road which comprises 6 lanes in each direction,” said Al Tayer.
Al Tayer continued: “In view of the enormity of the project and as RTA was keen on accelerating the delivery of the project, it had been divided into four phases. Phase I started from Al Rawiyya R/A at Dubai - Al Ain Rd to Jebel Ali – Al Hebab Rd, with a total length of 24 km. It also included the construction of an express way of six lanes in each direction at a cost of 363 million dirham.

“Phase II started from the outskirts of the Dubai and Sharjah emirates at Al Sajaa Interchange to Al Rawiya Interchange at the Dubai – Al Ain Rd in a sector extending 23 km costing 295 million dirham. This Phase included the widening of the existing road from two to six lanes in each direction and fitting it with internal and external shoulders separated by the existing median. It also included transforming the R/A of the intersecting Al Khawaneej Road into an interchange allowing free movements in all directions as well as the construction of rainwater drainage system, utility lines conduits and camel crossing as well as improving the existing road elements such as the median, metal rail, safety fence and lighting works.

“Phase III included the construction of Al Qudrah Bridge on the Dubai Bypass Road, which comprises three lanes in each direction, in a sector stretching from Umm Suqeim Road in the direction of Al Qudrah (Endurance) area and Bab Al Shams and vice versa, costing 96 million dirham. Al Qudrah Bridge is considered one of the key phases of the six lanes Dubai Bypass Road, a key corridor of Al Qudrah Road and a continuation of the Umm Suqeim Road passing through the Arabian Ranches Interchange across the Emirates Road. Al Qudrah Bridge provides the users of the Dubai Bypass Road and Al Qudrah Road free movement in all directions. Motorists inbound from Umm Suqeim and outbound to Sharjah Emirate, and those coming from Al Qudrah area heading towards Abu Dhabi Emirate, can use the surrounding tunnels underneath the Dubai Bypass Road, which have been opened earlier to enable turning on the Dubai Bypass Road.

“The final Phase IV of the Dubai Bypass Road, which was constructed at a cost of 289 million dirham, comprised the construction of a dual expressway of six lanes in each direction extending from Jebel Ali – Lihbab Road to the outreaches of Abu Dhabi Emirate in a sector extending 25 km and linking up with Al Maktoum International Airport and Dubai Industrial City to accommodate the projected traffic movements in this road. It also included the construction of 3 camel crossings that can also be used as turning points in addition to rainwater drainage canals, utility lines conduits, metal rails, safety fence and lighting works,” said Mattar Al Tayer.

RTA Chairman of the Board and Executive Director concluded his statement saying: ”RTA will continue upgrading several key and arterial projects in the Dubai Emirate as part of an integrated road-widening plans under a strategy aiming to provided advanced services to residents as well as practical & all-inclusive solutions that ensure seamless traffic flow and realization of RTA vision of providing Safe & Smooth Transport for All in the Emirate.

Photo captions:
• Mattar Al Tayer
Layout of the path of the Dubai Bypass Road

Empower records 37 percent increase in district cooling plants in 2010

Empower records 37 percent increase in district cooling plants in 2010

Bin Shafar stresses the importance of investing in district cooling sector to reduce energy consumption in the UAE

Dubai, UAE, 7th November 2010: Empower has revealed that the number of its cooling plants has risen to 37, compared to 27 in 2009, an increase of 37 per cent.
Ahmed Bin Shafar, CEO of Empower, said: "The increase in number of plants was a response to the expanding operation plans of Empower and to cope up with the huge demand on the use of district cooling as an alternative solution to the conventional air conditioning systems.”

"The increase in the consumption of district cooling shows that Dubai is becoming more aware of the importance of using district cooling system and its instrumental role in saving energy and conserving the environment, as well as lowering operations and maintenance costs," he added.

Empower increased the number of its work stations to boost the use of district cooling systems which is ideal in reducing carbon footprint.
Bin Shafar added: “District cooling systems are better than conventional ones as they make use of the surplus heat in low-cost and effective cooling systems. Also, district cooling systems are environment friendly which save the natural resources.”
Empower's district cooling systems provide effective and efficient means of air conditioning. Water is cooled in central plants and distributed through a network of piping systems to individual customer buildings. District cooling achieves economies of scale by using centralised plants instead of individual cooling units in each building.

About Empower:
Emirates Central Cooling Systems Corporation (Empower) is a joint venture between Dubai Technology and Media Free Zone (TECOM) Investments and Dubai Electricity and Water Authority (DEWA), created to provide energy-efficient district cooling services to large-scale real estate developments. Empower plans to diversify into other energy efficiency and conservation services. The centralised system results in reduced capital and operating costs, thus reducing air-conditioning set-up and energy costs per building. Empower is set to become one of the largest district cooling companies in the region.

Emaar Properties records net operating profit of AED 2.343 billion (US$ 638 million) in first nine months of 2010

Emaar Properties records net operating profit of AED 2.343 billion (US$ 638 million) in first nine months of 2010

• Revenue for first nine months of the year was AED 8.320 billion (US$ 2.265 billion)
• Third-quarter 2010 revenue was AED 2.782 billion (US$ 757 million); net operating profit was AED 687 million (US$ 187 million)
• Company strengthens recurring revenue from hospitality and malls businesses

Dubai, UAE; October 27, 2010: Led by strong recurring revenue from its hospitality and malls businesses, Emaar Properties PJSC, the leading global property developer, recorded net operating profits of AED 2.343 billion (US$ 638 million) during the first nine months of 2010. These positive results demonstrate the significant gains that the company has achieved compared to the same period in 2009 – with net operating profits up over 67 per cent.

Revenue for the first nine months of the year reached AED 8.320 billion (US$ 2.265 billion), 53 per cent higher than the revenue of AED 5.429 billion (US$ 1.478 billion) in the first nine months of 2009.

Third quarter (July to September 2010) revenue for 2010 stood at AED 2.782 billion (US$ 757 million), 43 per cent higher than third quarter 2009 revenue of AED 1.948 billion (US$ 530 million).

Net operating profit for the third quarter of 2010 reached AED 687 million (US$ 187 million), which is at similar level as the profit for the third quarter of 2009.

In spite of the summer period, approximately 45% of the total units in Burj Khalifa, the world’s tallest building, have been handed over until the end of the third quarter 2010. The sales collection has been robust during the quarter providing additional liquidity to the company. In addition, with a view to convert short term liabilities into long term debt, Emaar launched a US$ 500 million of Convertible Notes due in 2015. The bond received overwhelming response with a demand in excess of US$ 3 billion. The Notes will be listed on the Luxembourg Euro MTF market subsequent to the approval at the Company’s Extraordinary General Meeting.

Mr Mohamed Alabbar, Chairman, Emaar Properties PJSC, said: “The solid results posted by Emaar during the first nine months of the year, marked by the delivery of our iconic tower Burj Khalifa, are testament to the strength of our diversified growth model. We have successfully focused on our strategy of geographic expansion in promising markets and delivered on our core competency of creating world-class real estate developments.”

He added: “Our strategic developments in shopping malls and hospitality are now yielding strong recurring revenues, which highlights our commitment to investing in the long term by adding value to our stakeholders. The challenges of the global financial slowdown are behind us, and we are entering a new phase of growth, complementing the vision of Dubai outlined by His Highness Sheikh Mohammed Bin Rashid Al Maktoum, UAE Vice President & Prime Minister and Ruler of Dubai.”




In the third quarter, Emaar continued handover of homes in Burj Khalifa, where the world’s first Armani Hotel Dubai also recorded robust occupancy levels. Emaar is currently completing orientation for the commercial suites in the tower, as well as for the residences.

Having successfully negotiated with contractors and consultants on several projects, Emaar is progressing with all its key property developments in Dubai, especially in Downtown Dubai, described as the “new heart of the city.”

Emaar further supported its shopping mall and leisure business segment by opening the region’s first boutique cineplex, the 6-screen Reel Cinemas at Dubai Marina Mall, and contributed to the city’s retail and hospitality sector through an array of promotions during the summer months aimed at driving international visitor flows.

Internationally, the first commercial offices in The Eighth Gate development in Syria were handed over within the Commercial Centre of the project, which is projected to become the leading business hub in the country. Earlier, Emaar handed over homes in Tuscan Valley Homes in Turkey and Canyon Views in Pakistan. Several landmark projects in Saudi Arabia, Jordan, Egypt and India will be completed in the coming months.

Mr Alabbar said: “Emaar has continuously focused on energising the domestic market by creating job opportunities and supporting ancillary industries. Our businesses complement this outlook by driving Dubai’s GDP growth, making Emaar an active partner in the Emirate’s socio-economic development and a driving force in realising the city’s ambitions.”

About Emaar Properties PJSC:
Emaar Properties PJSC, listed on the Dubai Financial Market, is a global property developer with a significant presence in key markets world-wide. Besides building residential and commercial properties, the company also has proven competencies in shopping malls & retail, hospitality & leisure, healthcare and financial services sectors.

Emaar inaugurated Burj Khalifa, the world's tallest building and free-standing structure, and has opened The Dubai Mall, the world’s largest shopping and entertainment destination.

In Saudi Arabia, Emaar is developing King Abdullah Economic City, the region's largest private sector-led project in Saudi Arabia, featuring a Sea Port, Central Business District, Industrial Zone, Educational Zone, Residential Communities and Resort District.

Emaar has joined hands with Giorgio Armani to strengthen its presence in hospitality. For more information, visit www.emaar.com.

Transparency pays off for MAG Group after handover of AED450 million tower in Dubai Marina proves property development in Dubai can work

Honesty is best policy says expert

Transparency pays off for MAG Group after handover of AED450 million tower in Dubai Marina proves property development in Dubai can work

A consistent vision, open and transparent communication and a commitment to quality has helped Dubai-based property developer MAG Group Properties, to deliver what some real estate analysts have described as a model development.

MAG 218 a residential tower in Dubai Marina, was built at a cost of approximately AED450 million consisting of 555 apartments spread over 66 floors. The building was officially handed-over to investors earlier this year on 15 May. To date 530 apartments are occupied with nothing for sale or lease at present.

Commenting Mohammed Nimer, CEO of MAG Group Properties, said: “We stood firm by our strategy. From the outset we wanted to be totally transparent and deliver our promise of a quality development, to specification and on budget. This has paid off handsomely, not only for MAG Group but for the investors as well.”

First of all to enable MAG Group to build a quality mid-priced development it needed to keep its budget under control, choosing to self finance the project, rather than paying interest on a bank loan, which helped to keep the costs down.

Even when MAG Group had some issues regarding late payments from some investors they decided to carry on irrespective, taking the view that the priority was to protect the majority and complete the project.

MAG Group sent the investors detailed and regular updates with fresh images so that they could chart the progress of the development. Results were also posted onto the MAG Group website.

“When milestone payments became due, we had few problems collecting that money. The owners could see the progress we were making and it generated a great deal of trust between us, at a time when investor confidence in many regional projects was beginning to wane. This proves that honesty is the right policy and furthermore quality at the right price can work in Dubai,” added Nimer.

MAG 218 is a highly desirable residential building, not just because of its location and quality of finish but the highly competitive service charges which underscore the overall technical engineering excellence of the design and build.

“Service fees in Jumiera Lakes Towers average AED15 per square foot, the Marina itself averages around AED13 but MAG 218 charges less than AED9.5 per square foot, a very attractive proposition to owners and end users alike,” said Mazen Falhout, General Manager of MAGme Property Solutions, a division of MAG Group.

Currently a one-bedroom apartment leases for around AED70,000 per annum while a two-bedroom flat currently achieves annual rental income of about AED110,000.

As such the owners in MAG 218 are feeling the benefits of such economical service charges, according to Camilla Van Der Merwe, Head of Sales and Leasing at Asteco Property Management.

“This gives apartment owners a distinct advantage in a very competitive market sector. Owners of a one-bedroom apartment, could be paying as much as AED5,000 less than landlords from other developments pay annually,” said Van Der Merwe.

“For investors, end-users and or tenants, it is also comforting to know that the tower is well built and maintained, protecting investment and keeping fees to a minimum. In many ways MAG 218 could be described as a model development,” added Van Der Merwe.

Almost 90% of MAG 218 tower was sold out within months of its 2006 launch, with many investors initially paying an average of AED700 – 800 per square foot. Today, despite falling prices over the past two years, the apartments have still appreciated on average by at least 10%, especially for those investors who bought at or close to the launch price.

Photo-caption:

1. MAG 218 tower in Dubai Marina – a model development.

2. Mohammed Nimer, CEO, MAG Group Property – “Honesty is the best policy...”

About the MAG Group

The Dubai-based Moafaq Al Gaddah Group of Companies (the MAG Group) was established in 1978 and has grown into a multinational organisation with 18 offices in eight countries throughout Europe, the Middle East and Asia.

In the past five years the MAG Group Properties has invested in 12 properties at various stages of development across the residential, commercial and industrial sectors. The company focuses on projects that provide long-term benefits to investors and customers.