MAG to develop AED 800 million Healthcare City project

MAG to develop AED 800 million Healthcare City project

MOU signed for Joint Venture development with Dubai Healthcare City at Arab Health expo       

Dubai-based MAG Group has signed a joint venture (JV) agreement with Dubai Healthcare City to develop approximately one million square feet mixed-use project in Dubai Healthcare City at an estimated cost of around AED 800 million. 

The development which is still at the concept design stage is expected to include two hospitals covering a total of 260,000 square feet, plus an 80,000 square feet clinic; a residential complex of four buildings with combined gross floor area of 430,000 square feet; a hotel apartment with a gross floor area of 80,000 square feet and 100,000 square feet of retail space.

The development will also include a mosque and one of the most advanced automated car parks and extensive hard and soft landscaping. It is envisaged that the whole project will be completed by the end of 2016.

Addressing officials from DHCC, Moafaq Al Gaddah, Chairman of MAG Group said, “The healthcare sector in Dubai is on the cusp of a sustained period of growth and will need to build medical facilities for the future. This expansion is being fuelled by numerous factors.

“First the natural growth in the local population and in the number of expatriate arrivals as the economy expands, looking ahead to Expo 2020. Two, the growth of private health insurance due to changes in government employment policy and Dubai’s growing status as a medical tourism hub for the Middle East,” he added.

The feasibility of the project needs little explanation. According to the DHA, total inpatient visits to healthcare centres grew by a CAGR of 9%, between 2006 and 2011 totalling 183,000 visits in 2011. By that time almost 57% of all inpatient facilities were in private hands, as inpatient visits to private healthcare centres grew by a CAGR of 18% over the same period and a clear sign of changing preferences in Dubai.

It is a similar picture for outpatient care. Outpatient visits to private healthcare centres grew by a CAGR of 8% between 2006 and 2011. The private sector now dominates outpatient care, with 73% of all outpatient visits in 2011.

      

Underscoring MAG Group’s commitment to Dubai, the Healthcare City project announcement comes hard on the heels of MAG Group’s recent flurry of announcements at Cityscape Global last year.

At the show, MAG Group unveiled a quartet of new Dubai freehold residential and retail leasing projects. These included an AED 2 billion development in Meydan, consisting of residential townhouses and low-rise apartment buildings and an AED 450 million retail area specialising in interior design and decorative products. Located in the emerging suburb of Al Barsha 2 and branded the ‘Art Center’, it is scheduled for handover in 2015.

Photo caption: The development which is still at the concept design stage is expected to include two hospitals covering a total of 260,000 square feet.

About the MAG Group

The Dubai-based Moafaq Al Gaddah Group of Companies (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.

MAG Group Properties currently has a portfolio of nine completed and active projects in the emirate of Dubai. Completed properties include MAG214, MAG218, Industrial Area 18, Emirates Financial Towers and MAG Hotel Apartments. A total of four  projects are currently under development including MAG220 in Business Bay, the Polo Townhouses and Diamond Business Park at Mohammed Bin Rashid City, and the Art Center in Al Barsha 2.

Omniyat applauds HH Sheikh Mohammed’s directive streamlining hotel investment and development in Dubai

Omniyat applauds HH Sheikh Mohammed’s directive streamlining hotel investment and development in Dubai

Mahdi Amjad: “Sheikh Mohammed’s directive will further boost direct investment in Emirate’s tourism”

Dubai, UAE, 27 January 2014: Omniyat Group, the leading real estate development company in the UAE, has hailed the directive of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, outlining measures for boosting and streamlining hotel investment and development in Dubai, and described it as a pivotal move that will dramatically boost tourism growth ahead of Expo 2020.

Mahdi Amjad, Omniyat's Executive Chairman and CEO: “In light of the emirate’s 2020 vision to treble the annual contribution made by tourism to the economy as well as recording a two-fold increase in tourist arrivals to Dubai, the measures announced by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, will further boost the investment environment and spur demand for price range accommodation. Moreover, we, at Omniyat, believe that this initiative will further motivate the private sector to increase investments in the tourism sector, and ultimately contribute to bringing greater maturity and global standards to the sector.”

Dubai is continuously attracting more international brands keen to launch five, four and three-star hotels, and this is set to add to the capacity of the booming tourism industry in the run-up to the Expo.

Omniyat recently announced two leading hotel brands that will enrich the UAE’s robust hotel scene and plans to announce a third one in 2014.

Further, Omniyat launched a new design for The Opus at the end of 2013, positioned it as an international icon that will include the ‘ME’ Dubai hotel as well as luxury hotel apartments designed by Zaha Hadid. The company is currently discussing with global hotel operators the modalities for managing The Pad tower, which is an artistic edifice tilted at 6.5 degrees and will include the first ‘Pad’ branded hotel in the world.

Banke International launches www.banke.ae

Banke International launches www.banke.ae

• The website showcases extensive property portfolio allowing advanced search options
• Allows visitors to compare properties for better selection
• Ultimate user-friendly experience with improved navigation and functionality throughout
• Property Consultants have their own page allowing them to show case their experience, back ground and listings

Dubai, UAE; January 26, 2014: Banke International, a premier property service company recently started by Niraj Masand and Porush Jhunjhunwala, has launched its new website that will enable customers to optimise their searches and make informed property purchase decisions swiftly.

The website can be accessed at www.banke.ae and will feature residential and commercial properties for sale and rent.

Niraj Masand, Director, Banke International, said: "The new website of Banke International will meet the requirements of customers in various parts of the world. Apart from accessing all property portfolio of Banke International from one site, it also offers the convenience of offering customers with specific details of featured projects and exclusive developments."

He added: "The website is reflective of our company’s mission “to combine expertise, insight, integrity and respect to elevate standards in the real estate industry for the benefit of our clients, colleagues and partners. Our website has also enabled us to develop online content while also showcasing our extensive property portfolio in a user-friendly manner. This helps to strengthen Banke’s brand in the region and also present a professional experience to all our customers."

For more details, visit www.banke.ae, call, 04-3380088 or fax 04-338 0499.

About Banke International:

Banke International is a full-service boutique real estate brokerage powered by a team of experienced professionals with a through understanding of UAE real estate market.  Centered on integrity, innovation and high-touch customer service, Banke International offers an unwavering commitment to its clients.

Our Real Estate service portfolio includes Residential & Commercial Sales, Residential & Commercial Leasing, Property Management, Property Consultancy and Project Sales & Marketing.

RTA starts trial run of Dubai Tram on 2.5km-long track

RTA starts trial run of Dubai Tram on 2.5km-long track

Roads & Transport Authority - Mohammed Al Munji:

The Roads and Transport Authority (RTA) has yesterday (Sunday) embarked on the technical trial run of the Dubai Tram on a track extending 2.5 km from the Tram Depot at Al Safouh.

H.E. Mattar Al Tayer, Chairman of the Board and Executive Director of the RTA, was delighted with this step which is considered a milestone in the construction of the Dubai Tram project, adding that the technical trial run would continue till the official operation of the tram service in the final quarter of this year. The test track would be expanded in the near future to cover the entire tramway, he noted.

“Road users will start to see the Dubai Tram on the move on roadsides at Al Safouh, Jumeirah Beach Residence and the Marina. The tram track will intersect with vehicular & pedestrian traffic at certain points; which warrants motorists in particular and road users in general to be more attentive and compliant with the rules and regulations governing the tram operation, and adhere to the directional signage in place to ensure streamlined traffic movement,” explained Al Tayer.

“During the experiment the tram moved at varying speeds and tests were conducted covering the safety systems, power propulsion of tram carriages, brake system, sudden braking during emergencies, ground electrical feed along the tram track, overhead power feed used in the Depot, and the tram’s doors operation.

“During the technical trial run, tests were conducted to ensure the readiness of the train along with the functioning and performance of all control systems under all conditions. Tests covered a wide range of issues such as the air-conditioning system, electrical feed & braking system, coupling of tram coaches, disconnecting power supply, rail surveillance & control system, and testing the train under normal as well as emergency conditions,” elaborated Al Tayer.

“The technical trial run made for the tram in the depot was all success. The tram moved smoothly without wobbling or noises as it is powered by ground electrical feed stretching along the track. The Dubai Tram is considered the first of its type outside Europe powered by ground feed with no catenary cables involved,” he further added.

The Dubai Tramway extends 14.6 km alongside Al Sufouh Road, and the initial Phase of the project envisages the construction of a 10.6 km-long track starting from the Dubai Marina and stretching up to the Tram Depot near Dubai Police Academy. The Tram network comprises 17 passenger stations, 11 of which are covered under Phase I and spread across activity and population density areas along the tramway. The fleet comprises 11 trams in the initial phase, and 14 trams will be added in Phase II to make a total of 25 operating trams. The tram is expected to lift about 27,000 riders per day at the start of operations in the initial phase in 2014, and the ridership is bound to pick up to hit 66,000 riders per day by 2020.

Each train measures 44 meters in length and has a capacity to accommodate about 300 riders. The Tram has a First Class (Gold Suite) and one cabin designated for ladies & children as well as a Silver Class cabin. The tram's carriages & stations will have deluxe interior finishing, and feature state-of-the-art technologies in the transmission and display of entertainment materials, with a passenger platform extends 44 meters. The terminal is fitted with a glazed barrier extending along the platform and automated opening & shutting doors, along with automated fare collection systems.

The tram track basically extends at grade level along Al Sufouh Road but rises in an elevated section passing across certain parts of Dubai Marina due to the urban constructions in the locality. It links up with the Metro system at 2 stations, namely Dubai Marina and Jumeirah Lakes Towers via footbridges to facilitate the mobility and exchange of passengers between the two transit modes. The Tram will also be linked with the Monorail of The Palm Jumeirah at the entrance of the Palm from Al Sufouh Road to facilitate passenger movement between districts served by both modes.

Al Sufouh Tram is considered the world's first tramway project powered by a ground-based electric supply system extending along the track, thus obviating the need for catenary cables. It is also the world's first tramway that uses Platform Screen Doors in passenger stations fully synchronized with the tram's doors opening and shutting mechanism, providing maximum convenience, safety and security for passengers, and at the same time protecting the quality of the air-conditioning in the interior of both stations and carriages from external climatic conditions.