Asteco Dubai Q4 Report 2010

Asteco Dubai Q4 Report 2010.pdf

Dubai tenants in ‘flight to quality’

Dubai tenants in ‘flight to quality’

Increased supply of high quality stock at affordable rates moves tenants – apartment rents record lowest Q-on-Q fall in 2010 indicating signs of stability says Asteco Q4 2010 report

According to the latest report by leading Dubai-based property management company Asteco, an increased supply of high quality, affordable accommodation, particularly in the apartment sector provided the catalyst for considerable tenant movement across Dubai in Q4 2010. In addition apartment rental rates declined by just 3% during the same period, the lowest quarter-on-quarter fall during the year, an indication that the market is showing signs of stabilisation.

“The real estate market is characterised by a large supply of high quality stock at affordable rates, leading to a flight-to-quality trend currently seen across Dubai. Apartment rates have dropped 17% on average during 2010 and this has brought a number of upscale developments within the reach of mid-income budgets,” commented Elaine Jones, CEO, Asteco Property Management.

Indeed although apartment rental rates fell last year, it was still less than the 24% rents fell in 2009, further indication that market prices are stabilising. According to the report, International City has seen the largest drop due to tenants migrating to better quality developments in more desirable locations. Overall studios experienced the lowest decline and one-bedroom apartments suffered the largest fall.

“Rents are expected to continue their downward trend in 2011, albeit at a lower rate as more supply enters the market, providing prospective tenants with even greater choice,” added Jones.

Villa rental rates fared better than apartments in Q4 2010, falling by just 1% over the three month period, primarily due to the limited availability in central areas. Quality communities such as Palm Jumeirah and Jumeirah Islands performed better than more mature developments such as The Springs and The Meadows.

Unsurprisingly, office rental rates fell by 8% in Q4 2010. DIFC set the tone by reducing their rates per square foot from AED370 in the first quarter of 2010 to AED230 in Q4 (a fall of 22%) in an attempt to compete more favourably with quality developments on Sheikh Zayed Road such as Rolex Tower and Sama Tower.

Continued delivery of new stock in JLT and Tecom sent rents down by 20% and 12% respectively. Although transaction activity has picked up due to the improving economy, continued oversupply will no doubt put further downward pressure on rental rates. In contrast office sales prices only declined by 6% in Q4 and just 8% during the whole of 2010, predominantly due to weak transaction activity. Prices will remain subdued due to a lack of investor confidence.

Apartment sales prices slipped by only 2% on average suggesting a slowdown in the rate of decline. Continuous delivery has seen average sales prices in Dubai drop by AED100 to AED850 over the past year, while prices in International City and Discovery Gardens have fallen to AED350 and AED450 per square foot respectively. Sales prices on Palm Jumeirah were flat in Q4 but still command one of the highest prices at around AED1,500 per square foot.

Villa sales prices in Q4 meanwhile were relatively stable with only the Springs experiencing a 4% fall. Overall market prices fell just 8% in 2010, with downward pressure more predominant in developments with a large inventory, such as The Springs and the Arabian Ranches. Market demand continues for smaller units, driven by affordability.

For more details, please visit www.asteco.com

About Asteco
Asteco, a major regional and international real estate services firm and the largest property services company in the United Arab Emirates, was founded in Dubai in 1985. Asteco offers independent market analysis, design development consultancy and valuation services, sales and leasing services, as well as asset and property management services.

RTA sets 100 bike stands across Dubai

RTA sets 100 bike stands across Dubai

The step aims to minimize the environmental pollution, curb disorderly parking of bikes across the city

Road & Transport Authority – Manal Khalid:

The Roads & Transport Authority (RTA) in Dubai has set 100 locations for parking bikes in key areas across the Emirate with the aim of inducing an additional mobility means in a well rehearsed approach intended to minimize the reliance on private vehicles in traveling, particularly for short distances.

Commenting on this move the Director of Strategic Planning, RTA Strategy & Corporate Governance Sector Nasir Abu Shehab said: “RTA intended to provide parking spaces for bicycles near all the metro stations in a bid to enhance the integration of the Dubai Metro with other transit modes in the Emirate. In an advanced phase of the Project, all the metro stations will be integrated with the dedicated cycling tracks.”
Abu Shehab continued: “All areas served by the cycling tracks will be fitted with bike stands including key areas such as the Gold Souk, abra marinas, Al Shindagha area, Al Fuhaidi Museum and Al Bastakiya area. RTA plan also includes setting bike racks at other prime locations such as malls, recreational clubs, schools, colleges, and hospitals as well as public & private entities.

“The provision of cycle stands is a vital requirement that has to be addressed on the ground in an effort to eliminate haphazard parking of bikes at unsuitable locations such as tying them to lighting poles, traffic signals and trees; a practice which inflicts damage to public properties, blocks visibility of motorists & road users, occupies walkways & obstructs pedestrian movement and distorts the general appearance of the area, particularly the tourist destinations.

“RTA has finalized studies encompassing the construction of cycling tracks with an overall length of about 900 km under 5 phases scheduled for completion by 2020. The trial run of the Project has started in some key spots in Dubai such as the streets of Jumeirah, Dubai Academic City, Nad El Sheba and Al Mankhool in addition to the Creek Corniche. Work has been completed in the construction of cycling tracks at Jumeirah Street in a sector extending 12 km and the work in other phases will proceed according to plan in order to complete the tracks under the trial phase extending 32 km.

“The following stage of the Project will see the completion of the initial phase comprising cycling tracks extending 122 km in key Dubai streets. Emphasis will be placed to prioritizing the completion of the project in densely populated areas, especially those populated by cyclists or bustling with activities & public amenities with the aim of easing the transit of cyclists to the metro stations.

“The project involves diversification of transit modes particularly towards advocating the use of environment-friendly means. It also provides a safe environment for cyclists and improves the health aspects of Dubai residents through encouraging them to use bikes and accordingly minimize the air pollution through reducing the use of vehicles,“ said the Director of Strategic Planning, RTA Strategy & Corporate Governance Sector.

He further commented: “The cycling tracks encompass three different designs dictated by the nature of streets in terms of traffic volumes, vehicular speed, internal roads, express tie roads and low traffic volumes. Though cycling tracks will share the existing roads, they will be demarcated with clear markings and the higher the speed and traffic flow, the wider will be the cycling tracks.”

As regards the main roads with high driving speed and traffic volumes, Nasir Abu Shehab reported that the width of the cycling track would range from 1.5 meter to 4 meters maximum. “The cycling tracks will be painted in a distinctive colour and fitted with reflective ground markings replicating the shape of the bike such that they will be recognizable and visible at all times. Moreover, the tracks will be equipped with directional and traffic signage illustrating the exclusivity of using these tracks by cycles” added Abu Shehab in a final comment.

Wood prices in the Middle East remain stable over past six months

Wood prices in the Middle East remain stable over past six months

Danube Building Materials seeks to address increase in demand for wood as many construction projects are set to be completed
January 03, 2011

Danube Building Materials, the leader in construction, building materials and shop fitting industries, has announced that wood prices in the Middle East have remained stable over the past six months. According to statistics released by Danube Building Materials, wood prices began to stabilize starting the third quarter of 2010 and have remained stable ever since. Danube notes that the price for Medium Density Fibreboard (MDF) has been USD 285 per CBM, while the Malaysian Hardwood Plywood was priced at USD 495 per CBM.

According to Danube, the pricing for Film Face Plywood was pegged at USD 375 per CBM, and the Meranti Wood pricing saw an increase of 0.67 per cent from USD 750 to USD 755 per ton. The price of American Ash Wood meanwhile saw a 1.2 per cent decrease and was priced at USD 825 per CBM. The price of European Beechwood increased by 1.19 per cent, from USD 550 to USD 555. On the other hand, African Teak Wood called Iroko has been priced at USD 1,100 per CBM.

“We believe that the stabilisation of wood prices coupled with the current regional market situation where several construction projects are nearing completion, will considerably boost demand for wood. Danube is well-positioned to capitalise on this demand and cater to the diverse requirements of this dynamic market with our broad range of high quality products,” said Rizwan Sajan, Chairman, Danube Building Materials.

The company recently announced that in the next five years, it plans to list itself in Saudi Arabia and the UAE for an initial public offering (IPO). This decision was taken, following the significant growth it had achieved in recent years in terms of geographical expansion and achievement of revenue targets. Danube Building Materials also revealed that it is also open to dual listing in both countries, as part of its aims to secure AED 2.5 billion to AED 3 billion in total revenues in the next three to four years.

“An IPO listing can spur regional growth for Danube and help us become more profitable through optimum use of the revenue generated. Meanwhile, we will remain focused on consolidating our presence in the GCC region, and look to replicate the success we have achieved in the UAE across key regional markets,” concluded Sajan.

About Danube Building Materials FZCO
Established in 1993, Danube Building Materials FZCO provides more than 25,000 products in stock and in-house value added services in all of its 17 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 25 branches worldwide - 17 in the UAE, one in Saudi Arabia, two each in Bahrain and Oman and three in 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.

World’s highest fireworks at Burj Khalifa welcome New Year

World’s highest fireworks at Burj Khalifa welcome New Year

• A spectacular showcase of laser, lights and fireworks positions Burj Khalifa New Year Gala among world’s iconic New Year’s Eve celebrations

Dubai, UAE; January 1, 2011: Dubai welcomed the New Year with an unprecedented spectacle – the world’s highest fireworks at Burj Khalifa, the world’s tallest building by Emaar Properties.

The 828 metres (2,716.5 ft) high Burj Khalifa was the centre of attention for a global audience as it marked New Year’s Eve with a spectacular laser-lights-fireworks show, telecast live to over 2 billion people around the world.

Close to half a million Dubai residents and visitors witnessed the New Year’s Eve Gala from Burj Park, an island set on The Burj Lake opposite Burj Khalifa, and from several other vantage points across Downtown Dubai.

The celebration, which also marked the first anniversary of the grand inauguration of Burj Khalifa, enveloped the whole of Downtown Dubai, the 500-acre mega development, which is anchored by the tower. The community was a sea of humanity, as people arrived to witness the spectacle several hours in advance.

Described as ‘The Centre of Now,’ for its diverse showcase of high-end lifestyle destinations including malls, hotels, homes and offices, Downtown Dubai created a stunning spectacle with lights and fog effects.

To mark the New Year’s Eve Gala, The Dubai Fountain, the world’s tallest performing fountain overlooking Burj Khalifa, also hosted a special fire-water-music show, where fire elements and water sprouts were seamlessly integrated for the first time in the region.

Mr Mohamed Alabbar, Chairman, Emaar Properties, said: “The New Year’s Eve Gala at Burj Khalifa has positioned Dubai as the must-visit destination to celebrate new beginnings. The show easily qualified as of the finest spectacles anywhere in the world, and we are confident that in the coming years, Dubai will be the place that visitors from across the world will choose to celebrate the New Year.”

In addition to the fireworks spectacle, set to the melody of a specially composed music, there were display screens across Downtown Dubai for visitors to enjoy live telecasts of New Year’s Eve celebrations from different parts of the world.

Visitors were also entertained with the after-party held at At the Top, Burj Khalifa, the world’s tallest observation deck with an outdoor terrace – most recently voted as ‘Best Tourist Attraction at the Best in Dubai’ event. Guests attending the At the Top party had the privilege of celebrating the first day of the New Year taking in magnificent views of the city at night.

A fully-established community with world-class homes, commercial space and the world’s first Armani Hotel Dubai, Burj Khalifa is now ‘A Living Wonder.’ It anchors Downtown Dubai, the most definitive lifestyle development in the city, which also features two malls - The Dubai Mall, the world’s largest shopping and entertainment destination, and Souk Al Bahar.

The Dubai Mall is the world’s largest shopping center with 1,200 retail stores including 160 F&B outlets, and features Dubai Aquarium & Underwater Zoo; the Middle East’s first and only SEGA Republic; a dedicated children’s edutainment centre KidZania®; an Olympic-sized Dubai Ice Rink and Dubai’s largest megaplex, Reel Cinemas.

In addition to homes and offices, Downtown Dubai features six world-class hotels – Armani Hotel Dubai; The Address Downtown Dubai; The Address Dubai Mall; The Palace - The Old Town; and Al Manzil and Qamardeen at The Old Town. Emaar Boulevard, a 3.5 km boulevard, is another attraction at Downtown Dubai and hosts several lifestyle activities.

Photo Caption:
The world’s highest fireworks held at Burj Khalifa, Dubai by Emaar Properties to mark the New Year.

RTA launches the Dubai Travel Pass "Terhaal" initiative

RTA launches the Dubai Travel Pass "Terhaal" initiative

The pack is now available at selected outlets

Roads & Transport Authority – Nashwan Atta'ee
The Roads & Transport Authority (RTA) has the Dubai Travel Pass (Terhaal) initiative out in the market through selected outlets and will be widely available to tourists from the first week of the New Year.

Yousef Jawad CEO of RTA's Corporate Administrative Support Services Sector explained that the initiative is an attempt to give visitors to Dubai the ability to use public transportation with relative ease upon arrival in the Emirate. The intention is to provide means for visitors to travel from their homes and back to their homes seamlessly. Over a phased launch period, the pack will be available to tourists at various points during their trips, to allow them to decide on ground transport, while developing their visit plans.
“The overall objective of this initiative, which is launched in partnership with DNATA, is to ensure that visitors are given an immediate overview of public transport modes including Dubai Metro, Dubai Bus and Dubai Water Bus, which are the public transport modes provided by RTA in a smooth and safe environment, thanks to the advanced infrastructure, facilities and services implemented by the RTA over the last 5 years,” said Jawad.

“Through rolling out this initiative, RTA is intending to ease the mobility of tourists across Dubai, while also make their visit a memorable experience, brought on by the use of some of the best infrastructure and systems in the world besides contributing to the enhancement of the tourism in the Emirate,” he continued.

“The Dubai Travel Pass, which is priced at (AED65), includes two Silver Nol Cards, booklets about the integrated public transport systems, maps, information of interest to visitors, places to visit and how to get to those places using public transport, as well as other general information such as telephone numbers of emergency service, police, embassies, and ambulance. The pack also includes various value-added offers for use in Dubai on the trip, courtesy of RTA and its partners.”

"The forthcoming phases of the project will see different variants of the pack that tourists will be able to choose from. There will be long-term plans to make the (Terhaal) available to tourists in their countries of origin as well, added the CEO of RTA's Corporate Administrative Support Services Sector."

Four most important Qs and As about the Dubai Travel Pack (Terhaal):
Why is RTA doing it?
• To provide the advantages of public transport to visitors coming into the country.
• To help them save while traveling in Dubai.
• To promote usage of public transport.

Who does it benefit?
• The tourist population.
Where can we get it?
• All RTA customer service centers.
• DNATA Travel outlets at Dubai Clock Tower, Sheikh Zayed Road, Jumeirah Beach Residence and Palm Jumeirah .Its also available at the DNATA counters at the following Shopping Malls: Burjuman Centre | Deira City Centre | Al Twar Mall | Mercato | Dubai Mall | Mall of the Emirates | Uptown Mirdiff | Wafi & the Airport Terminal 1 Arrivals and Low Cost Carrier Counter.
Where do I get more details from?
• For further Details Call RTA @ 800 90 90 (RTA's call centre number)

This New Year, Celebrate In Style At Level 124 Of Burj Khalifa

This New Year, Celebrate In Style At Level 124 Of Burj Khalifa

• At the Top, Burj Khalifa to host New Year’s Eve after-party
• Only 350 exclusive tickets available for the party
• Celebrations follow spectacular fireworks to ring in the New Year
• Arabic fusion band adds to the buzz of the event at the world’s tallest observation deck with an outdoor terrace

Dubai, UAE; December 28, 2010: When the spectacular firework display to ring in the New Year is over at Burj Khalifa, the world’s tallest building, head straight for Dubai’s one of its kind New Year’s Eve after party at the most unique destination – At the Top, Burj Khalifa.

The world’s highest observation deck with an outdoor terrace is opening doors to an inimitable party experience – ‘Celebrate in Style’ - where guests can enjoy the first day of 2011 taking in unparalleled views of the city glittering in the sweeping spectacle of a million lights.

At the Top, Burj Khalifa’s New Year’s Eve after-party will be marked by a celebration of music, with an Arabic fusion band regaling the guests. Food and non-alcoholic beverages from The Address Dubai Mall will be served over the two-hour party from 1 am to 3 am. The ‘Celebrate in Style’ party will host up to 350 guests with the entry priced at AED550. The tickets can be purchased at the Ticket Counter, located in the Dubai Mall.

Mr Issam Galadari, Chief Executive Officer, Emaar Properties – Dubai Operations, said: “Celebrate in Style is a perfect complement to the spectacular fireworks that will mark the beginning of the New Year at Burj Khalifa. For the first time, we are opening doors to guests for the unique opportunity of viewing the panoramic vista of the city on the first day of 2011. A get-together At the Top, Burj Khalifa will be a perfect occasion for friends and family to get together and celebrate the joy of new beginnings.”

Guests to the party also stand the chance to win an array of prizes through raffle draws. The prizes include a stay at Qamardeen Hotel for two people inclusive of breakfast and dinner at Esca restaurant; two dinner prizes for two people at Asado, the Argentinean grill at The Palace – The Old Town; two ‘One Desert Journey Spa Treatments’ at The Spa of The Palace – The Old Town; and six VIP ‘Immediate Entry’ passes to tour At the Top, Burj Khalifa, again.

While Burj Khalifa was honoured with the ‘Global Icon’ status by the Council on Tall Buildings and Urban Habitat (CTBUH) recently, an honour bestowed for tall structures only once in 10 to 15 years, At the Top, Burj Khalifa was most recently voted as the ‘Best Tourist Attraction’ at the ‘Best in Dubai’ awards.

The entrance to the At the Top experience is at The Dubai Mall’s Lower Ground level. The ascent to the 124th floor is by a double-deck elevator, each deck carrying up to 14 people and travelling at an amazing 10 metres per second.

A fully-established lifestyle community with world-class homes, office space and the world’s first Armani Hotel Dubai, Burj Khalifa, 828 metres (2,716.5 ft) high is at the heart of Downtown Dubai, the 500-acre mega development by Emaar Properties, described as ‘The Centre of Now.’ The most definitive lifestyle development in the city, Downtown Dubai features two malls – The Dubai Mall and Souk Al Bahar.

In addition to homes and offices, Downtown Dubai also features six world-class hotels – Armani Hotel Dubai; The Address Downtown Dubai; The Address Dubai Mall; The Palace - The Old Town; and Al Manzil and Qamardeen at The Old Town. Emaar Boulevard, a 3.5 km boulevard, hosts several lifestyle activities.

About Burj Khalifa:
A mixed-use tower featuring the world’s first Armani Hotel Dubai and Armani Residences, alongside corporate suites, residences, retail and leisure facilities, Burj Khalifa is at the centre of Downtown Dubai, a 500-acre mega-development by Emaar Properties. Among an array of lifestyle amenities, the tower has a public observation deck - At the Top - on level 124.
Described as ‘The Centre of Now,’ Downtown Dubai encompasses The Dubai Mall, one of the world’s largest shopping and entertainment destinations; several hotels; offices and homes. A stellar attraction within the community is The Dubai Fountain, the world’s tallest performing fountain.
At 828 metres (2,716.5 ft) high, Burj Khalifa is the world's tallest structure surpassing the KVLY-TV mast (628.8 metres; 2,063 ft) in North Dakota, USA. The tower is taller than Taipei 101 in Taiwan, which at 508 metres (1,667 ft) has held the tallest-building-in-the-world title since it opened in 2004. Burj Khalifa also surpassed the 31-year-old record of CN Tower, which at 553.33 metres (1,815.5 ft) has been the world’s tallest free-standing structure on land since 1976.
Designed by Chicago-based Skidmore, Owings and Merrill (SOM), Burj Khalifa is constructed by high-rise experts South Korea’s Samsung Corporation. New York-based Turner Construction International is the project and construction manager. The tower employs the latest in wind engineering, structural engineering, structural systems, construction materials and construction methods.

Set your date with Dubai for the Burj Khalifa New Year’s Eve Gala

Set your date with Dubai for the Burj Khalifa New Year’s Eve Gala

• Glittering fireworks, laser displays and fountain feats ring in the New Year
• An unprecedented spectacle to be unveiled at Downtown Dubai, the ‘Centre of Now’
• The world’s tallest fireworks display set in a surreal ambience
• Free entry for the public at Burj Park, overlooking Burj Khalifa

Dubai, UAE; December 27, 2010: This New Year’s Eve, the place to be in is Dubai, as the city’s ‘Global Icon,’ Burj Khalifa – the world’s tallest building by Emaar Properties – rings in 2011 with an unprecedented spectacular that will elevate the city to the league of the world’s most sought-after destinations for New Year’s Eve celebrations.

In the proud tradition of the gala celebrations marked around iconic structures such as the Sydney Opera House, Paris Eiffel Tower and at New York Times Square, Dubai is welcoming the world with the Burj Khalifa New Year’s Eve Gala.

Mr Ahmad Al Matrooshi, Managing Director, Emaar Properties, said: “The Burj Khalifa New Year’s Eve gala is our tribute to the celebratory spirit of Dubai, home to over 200 nationalities, and a truly global city. The celebrations will put the international spotlight on the city, and drive the destination as the must-visit place for New Year’s Eve celebrations.”

Also marking the first anniversary of Burj Khalifa, which soars high at 828 metres (2,716.5 ft), the New Year’s Eve Gala has a mystique theme that encompasses the entire Downtown Dubai community, the 500-acre mega development by Emaar, described as ‘The Centre of Now.’

At the heart of the flourishing lifestyle community is Burj Khalifa, which will usher in the New Year with a colourful countdown followed by a laser-fireworks-lights spectacle. Flagging off the celebrations is a fire-water performance of The Dubai Fountain, the world’s tallest performing fountain overlooking Burj Khalifa.

The Dubai Fountain will sway to the rhythm of world music, with fire flames and water jets in harmonious flutter, creating a spellbinding effect on viewers. As the countdown for the New Year begins, the Downtown Dubai community will be enveloped with lights and lasers effects.

Large television panels will display the countdown, and the New Year will be ushered in with a dazzling fireworks-laser-lights display atop Burj Khalifa – marking it as the world’s highest fireworks celebration for the New Year.

Music, specially composed for the event, will add to the surreal ambience, offering spectators a never-before-experienced New Year’s Eve gala. The celebration will continue for another hour with The Dubai Fountain performing continuously to a range of world and Arabic music.

Party lovers can continue the celebration by heading to At the Top, Burj Khalifa, the world’s tallest observation deck with an outdoor terrace, where they can enjoy panoramic night views of the city and beyond.

The Burj Khalifa New Year’s Eve gala is open for the public, who can enjoy the celebrations from Burj Park, an island overlooking Burj Khalifa, and set on the Burj Lake. They can also view the sparkling extravaganza from the Waterfront Promenade lining the adjacent Dubai Mall.

The celebrations for New Year’s Eve will start way ahead with the television screens, erected in strategic locations, also relaying the New Year’s Eve celebrations from around the world.

While Burj Khalifa was honoured with the ‘Global Icon’ status by the Council on Tall Buildings and Urban Habitat (CTBUH) recently, an honour bestowed for tall structures only once in 10 to 15 years, At the Top, Burj Khalifa was most recently voted as the ‘Best Tourist Attraction’ at the ‘Best in Dubai’ awards.

A fully-established community with world-class homes, commercial space and the world’s first Armani Hotel Dubai, Burj Khalifa is now ‘A Living Wonder.’ It anchors Downtown Dubai, the most definitive lifestyle development in the city, which also features two malls - The Dubai Mall, the world’s largest shopping and entertainment destination, and Souk Al Bahar.

The Dubai Mall is the world’s largest shopping center with 1,200 retail stores including 160 F&B outlets, and features Dubai Aquarium & Underwater Zoo; the Middle East’s first and only SEGA Republic; a dedicated children’s edutainment centre KidZania®; an Olympic-sized Dubai Ice Rink and Dubai’s largest megaplex, Reel Cinemas.

In addition to homes and offices, Downtown Dubai features six world-class hotels – Armani Hotel Dubai; The Address Downtown Dubai; The Address Dubai Mall; The Palace - The Old Town; and Al Manzil and Qamardeen at The Old Town. Emaar Boulevard, a 3.5 km boulevard, is another attraction at Downtown Dubai and hosts several lifestyle activities.

About Burj Khalifa:
A mixed-use tower featuring the world’s first Armani Hotel Dubai and Armani Residences, alongside corporate suites, residences, retail and leisure facilities, Burj Khalifa is at the centre of Downtown Dubai, a 500-acre mega-development by Emaar Properties. Among an array of lifestyle amenities, the tower has a public observation deck - At the Top - on level 124.
Described as ‘The Centre of Now,’ Downtown Dubai encompasses The Dubai Mall, one of the world’s largest shopping and entertainment destinations; several hotels; offices and homes. A stellar attraction within the community is The Dubai Fountain, the world’s tallest performing fountain.
At 828 metres (2,716.5 ft) high, Burj Khalifa is the world's tallest structure surpassing the KVLY-TV mast (628.8 metres; 2,063 ft) in North Dakota, USA. The tower is taller than Taipei 101 in Taiwan, which at 508 metres (1,667 ft) has held the tallest-building-in-the-world title since it opened in 2004. Burj Khalifa also surpassed the 31-year-old record of CN Tower, which at 553.33 metres (1,815.5 ft) has been the world’s tallest free-standing structure on land since 1976.
Designed by Chicago-based Skidmore, Owings and Merrill (SOM), Burj Khalifa is constructed by high-rise experts South Korea’s Samsung Corporation. New York-based Turner Construction International is the project and construction manager. The tower employs the latest in wind engineering, structural engineering, structural systems, construction materials and construction methods.

RTA to open all bridges, tunnels of 1st Interchange on SZR end of next Jan

RTA to open all bridges, tunnels of 1st Interchange on SZR end of next Jan

Al Tayer: Opening the I/C marks the end of the final and 6th Phase of Ras Al Khor Roads Contract stretching 14 km

Roads & Transport Authority – Mohammed Al Munji:

H.E. Mattar Al Tayer, Chairman of the Board and Executive Director of the Roads & Transport Authority (RTA) has announced the completion of all construction works at the 1st Interchange on Sheikh Zayed Road; which will be opened for traffic by the end of January 2011. He added that by opening this vital interchange, RTA would finalize the 6th and final phase of Ras Al Khor Road Contracts; which extends more than 14 km from the Airport Tunnel northward terminating at the 1st Interchange on Sheikh Zayed Road southward.

“The remaining works at the 1st Interchange on Sheikh Zayed Road will be completed in four stages. RTA will open today (Wednesday) the main bridge on Sheikh Zayed Road ensuring traffic flow coming from the Financial Center Road (Upper and Lower Decks) heading towards Sheikh Zayed Road in the Abu Dhabi-bound direction, and also ensures the flow of traffic from Al Safa Road to Sheikh Zayed Road in the direction of Abu Dhabi. Next Saturday, RTA will open the widening of Sheikh Zayed Road near Burj Khalifa in the direction of the Financial Center Road,” said Al Tayer.

“In the first half of next January, RTA will open the third stage of the Project ensuring free traffic flow from Sheikh Zayed Road towards the Dubai International Financial Center across Tunnel No 2, and also ensuring the flow of traffic from Sheikh Zayed Road in the direction from Dubai heading towards Al Safa Road, in addition to a free passage for traffic inbound from Sheikh Zayed Road heading towards the Financial Center Road (Lower Deck).
“The Final stage of the Project, which will be opened by the end of next January, RTA will open the main Tunnel No 1 parallel to Sheikh Zayed Road linking Al Satwa and Al Wasl areas passing underneath Al Safa Road.

“The 1st Interchange on Sheikh Zayed Road Project, which is one of the biggest interchanges undertaken by the RTA, comprises bridges extending more than 3 kms and tunnels measuring 850 meters, and the total cost of the Project, which is being constructed by the Italian Salini Co, is about 617 million dirham. The new Interchange will provide free traffic flow in all directions linking Sheikh Zayed Road and the Upper & Lower Decks of the Financial Center Road. It also includes the construction of a tunnel linking the road passing at the backside of Mazaya Center and the road passing at the backside of towers overlooking Sheikh Zayed Road, in addition to the widening of Al Safa Road and improving the intersections at the road in a sector extending up to Al Wasl Road.

“The importance of this Project is underlined by its vital location on Sheikh Zayed Road and in the vicinity of Burj Khalifa and the Financial Center districts. It links these districts with the main surrounding roads such as Sheikh Zayed Road, Financial Center Road, and Al Safa Road; an area considered as the most congested and important zone on Sheikh Zayed Road due to its vicinity to key and vital areas of the Emirate in terms of tourist, economical and investment aspects,” added Al Tayer.

RTA Chairman of the Board and Executive Director hailed the efforts made by engineers of RTA Traffic & Roads Agency who supervised this project despite the huge difficulties and challenges confronting the progress of this project, while attending to the highest occupational safety standards throughout the work sites.

“These projects come in the context of RTA strategy to keep pace with the urbanization drive, meet the requirements of demographic growth as well as the current and projected expansion of roads and transportation networks. They mark the transition witnessed by the Emirate as a highly reputable cosmopolitan city and a global hub for tourists, visitors and business leaders from all over the world, besides its lofty reputation as a center for regional and international conventions & exhibitions; which warrants continuing with the development process and maintaining the appearance of the city in order to live up to its billing.

“RTA will continue the construction works of key and arterial roads in Dubai Emirate as part of integrated road widening projects under a strategy aimed at providing sophisticated services to residents and offering practical and universal solutions that ensure smooth traffic flow towards realization of RTA vision of providing Safe & Smooth Transport for All,” said Al Tayer in a final remark.

Photos:
- Mattar Al Tayer
- Layout of the project stages to be opened

Empower to adopt a conservative demand-based strategy in investing in new plants

Empower to adopt a conservative demand-based strategy in investing in new plants

Bin Shafar: This has been the company’s strategy since inception to ensure high return on investment

Dubai, UAE, 20th December, 2010: Ahmed Bin Shafar, CEO of Empower, the largest district cooling service provider in the region, revealed that the company has adopted a conservative strategy in investing in building plants based on actual rather than projected demand.

He said the company has adopted this strategy since inception so that the investments are done prudently, thus enhancing the financial status of the company and putting it on par with international companies in the domain of district cooling.
Bin Shafar added: “The decision of increasing the number of plants is based on the actual demand from customers for district cooling, driven by the actual consumption instead of anticipated consumption.”

He added: “Inspite of the 60 percent increase in the number of customers (16,000 by the end of this year), we plan to take a cautious approach. Our strategy is simple, we build permanent, semi permanent and temporary plants to ensure that our supplies meet the demand in the most feasible way possible in the short and long run.”
Empower increases its plants to meet the increased demand for district cooling systems as the main alternative to the traditional air conditioning systems in Dubai. This technology leads to energy saving and environment conservation, as well as lowering operations and maintenance costs.

The increase in the consumption of district cooling provided by EMPOWER has reached 45 percent, while the number of plants belonging to the company increased by 37 percent in 2010. The actual consumption for district cooling has increased remarkably due to the growth in the number of residential units that has entered into this service in projects served by the company like in Business Bay and the entire residential units of Mirdif.

Empower's cooling plants has increased to 29, including news ones in places like DIFC, Dubai healthcare City, Jumeirah Beach Residence and Business Bay.
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.