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.

RTA resets metro operation times to meet commuters wishes

RTA resets metro operation times to meet commuters wishes


Roads & Transport Authority – Manal Khalid:

It was announced by the CEO of Rail Agency, Roads & Transport Authority (RTA) Adnan Al Hamadi, that in response to the public desire and following extensive field surveys, RTA has introduced structural changes to the metro operation on the Red Line to take effect as of October 15th, 2010; coinciding with the opening of five new metro stations namely: Nakheel, Jumeirah Lakes Towers, Sharaf DG, First Gulf Bank and Business Bay stations.

“These changes are intended to serve the interest of the public who are the backbone of any project we seek to achieve and through them we can upgrade our services to world-class standards” said Al Hamadi. In the meantime he referred to the key changes to be introduced and aligned with the operation process saying that the changes would include changing the operation hours, service frequency time and the waiting time at the metro stations.

Commenting on the operational hours Al Hamadi said: “During the week days from Saturday to Wednesday, the metro operation will start from 06:00 am up to 11:00 pm, and on Thursday the metro will be operational from 06:00 am to 12:00 am (midnight), while on Friday the metro service will be running from 01:00 pm to 12:00 am (midnight).”

As to the service frequency time (headway), the CEO of Rail Agency said: “The service frequency will vary depending on the weekdays and the peak hours, and will be ranging from 8 to 6 minutes. Service frequency will be 10 minutes from 09:00 to 11:00 pm from Saturday to Wednesday, 8 minutes on Thursday and Friday, 10 minutes from 11:00 pm to 12:00 am (midnight), and 8 minutes on Fridays.”
Al Hamadi stated that the change also included slashing the stop time at stations from 30 seconds to 20 seconds.

RTA puts final touches on Green Line stations of Dubai Metro

RTA puts final touches on Green Line stations of Dubai Metro

The project is set to open as planned in August 2011

Roads & Transport Authority – Mohammed Al Munji:

H.E. Mattar Al Tayer, Chairman of the Board & Executive Director of the Roads & Transport Authority (RTA), announced that RTA had completed the construction works in most stations on the Green Line of the Dubai Metro, following the full completion of the 23-km long track extending along the Green Line. Completion rates in stations currently range from 55 to 100 percent in the finishing works, 65 to 85 percent in electromechanical works, and as high as 85% in the Park-and-Ride facilities at Al Qusais. He reiterated that work in the project is moving ahead on schedule and the project is set for opening in August 2010.

Al Tayer made these statements during an inspection tour of the work progress in the Green Line project of the Dubai Metro that took him to the Dubai Healthcare City, Al Ittihad, Al Ghubaiba, Al Ras, Al Qiyada, and Etisalat stations in addition to the multi-story car-parking building. Al Tayer was accompanied in the tour by the CEO of Rail Agency Adnan Al Hamadi, the Head of Follow-up Team of RTA Hosting UITP Congress 2011 in Dubai Mohammed Obaid Al Mulla, and a number of directors and engineers supervising the project.

Al Tayer set off his tour by inspecting the Dubai Healthcare City station where construction works have reached an advanced stage as the internal finishing works have almost reached 55 per cent and electromechanical works are as high as 65 per cent. Al Tayer then inspected the work progress in Al Ras and Al Ghubaiba stations where construction and civil works have been fully completed and so are the metal structures and platform doors. Completion of the finishing works in the two stations ranges from 55 to 70 per cent, whereas the completion of electromechanical works ranges from 65 to 75 per cent.

The two stations feature heritage designs depicting the history and legacy of the UAE. The design concept revolves around employing the architectural traditional elements used in antique buildings, such as wind towers (Brajeel), oriels (Mashrabia), alleyways (Sukaik), internal arches and others through replicating them in an enhanced manner, while addressing the aesthetic and technical dimensions of those elements such that the heritage-inspired stations would match the traditional Souks in the locality, look like a natural extension of the Heritage & Diving Village, and fit well with the antique control towers currently seen in the area.
Al Tayer then inspected the work progress in Al Ittihad Station; one of the stations in which the Red & Green Lines intersect and considered the world’s biggest metro station spanning an area of 25,000 square meters with a capacity to handle about 22,000 passengers per hour. The Station, which consists of two levels, extends 230 meters in length, 50 meters in width, and 18 meters in depth. It houses commercial & service outlets for serving metro users, and has two entry points equipped with lifts & escalators. Four tunnels branch out of the Station bound to Khalid bin Al Waleed & Al Rigga Stations on the Red Line, and Bani Yas & Salah Uddin Stations on the Green Line. Al Tayer attended to a briefing about the work progress in the station, where the contractor has completed all concrete works, and metal structures of platform screen doors and the completion rate has reached 70 per cent in the internal finishing works, and 85 per cent in the electromechanical works.
Al Tayer went about his tour to visit Al Qiyadah Station along Al Ittihad Road near the Dubai Police General HQ; one of the elevated stations of the Green Line that has a capacity to handle 11,000 passengers per hour in each direction with dimensions measuring about 130 m in length and 30 m in width. It has two ingress points fitted with escalators and lifts and the completion rate has reached 90 per cent in the construction works, 70 per cent in the finishing works and 75 per cent in the electromechanical works.

RTA Chairman of the Board and Executive Director concluded his tour by visiting Etisalat Station; the starting point of the Green Line where the Contractor has finalized all concrete works, metal structures of the station and the platform doors. Completion rate has reached 70 per cent in the finishing works, and 75% in the electromechanical works. He also inspected the multi-level Park-and-Ride facility where the completion rate in the parking lot, surrounding roads, bus station and footbridges is nearing 88 per cent. Al Tayer toured the building which has a capacity to house 2350 vehicles and meant to encourage the public to use the metro in their mobility across Dubai Emirate. The building has been designed to provide ample space for feeder buses of the station, ensure smooth traffic flow and accommodate huge number of buses at a time. It is also fitted with footbridges linking up with the opposite side of the road to ensure easy and safe access to the metro station, while providing the standard safety measures for passenger movement in the building.

At the end of the tour Al Tayer expressed his delight with the work progress in various locations of the project, and commended the efforts of all personnel working tirelessly to accomplish the project. However, he called on the contracting company to commit more efforts to ensure the opening of all stations on time.

Photo captions:
 Al Tayer attending to a briefing about the work progress in the Green Line Stations
 Huge progress made in the Green Line works

Libyan sustainable design triumphs at Cityscape Global Awards

Libyan sustainable design triumphs at Cityscape Global Awards

Projects that are sensitive to their environment received top honours at annual architecture awards

Upcoming master developments, residential communities and leisure facilities with a focus on sustainable design topped their categories at last night’s (5 October 2010) Cityscape Awards for Architecture in the Emerging Markets.

Tabanlioglu Architects won the Community Built award for the Tripoli Congress Centre, designed to reflect its surrounds in the city’s green zone. The glass structure is surrounded by a layer of metal mesh, which works in conjunction with the water features to keep heat out and reduce energy consumption.

“There’s nothing like this in Libya today so it’s leading a new wave of architecture in the country. Everything was inspired by the surroundings, from the trees to the colours in order that it sits in harmony with the area rather than imposing on it,” said designer Melkan Gursel Tabanlioglu.

Henderson Waves, an elevated pedestrian bridge connecting Mount Faber Park to Telok Blangah Hill Park in Singapore won the Tourism, Travel and Transport Built Award, which Judge Peter Clarke, Councillor and Chair of the Planning Committee for Melbourne, Australia, said was “superb”.

Zayed University, meanwhile, won the coveted Industry Choice Award, chosen by visitors to Cityscape Global.

Alexander Maul, from the creators BRT Architects said: “We don’t build buildings to win awards or please juries, we do it for out investors and key stakeholders. We try to build unique buildings that have an atmosphere and touch and spirit of the people so they can engage and feel comfortable.”

Another big winner at the event, held at the Grand Hyatt Dubai hotel, was Turkey’s Emre Arolat Architects (EAA), which won both the Leisure Built category for Mini City Model Park and the Residential Built category for its Maksimum Houses community project.

Yasemin Senar from EAA, said: “Istanbul is a very special place as it connects Europe and Asia plus we have to be sensitive to the environment. Our architectural vision is related to the city and how we can work with the surroundings to ensure harmony in our projects.”

The Future project categories were led by the King Abdullah International Gardens in Saudi Arabia, named best Leisure Future project. The park is built around seven differently themed gardens, but all have the common threads of using solar power and recycled water.

Meanwhile, the architects and planners behind the Khawr Awqad Integrated Sustainable Lifestyle Destination in Salalah, Oman, hope its win in the Environmental category will provide the impetus needed to push the plans through. The scheme has been designed to transform a wetland area into a sustainable resort destination, with the inclusion of parks, water esplanades, a centre for eco-literacy, agricultural fields, and a botanical garden celebrating the native plants of the region.

“Our project puts great emphasis on the environment. We always aspire to create projects that respect and protect the land. It’s a tangible project and I hope this award will encourage more sustainable design, particularly in public buildings,” said Mussallam Said Al Amry, Chief Investment Officer of the Global Omani Development and Investment Company.

Elsewhere, futuristic designs also stood out. The Singapore Civic, Cultural and Retail Complex, a scheme incorporating a theatre, gallery outdoor cinema and F&B plaza won the Commercial / Mixed Use Future Award, while the West Kowloon Terminus in Hong Kong was named best Tourism, Travel & Transport Future for its “unique landform and public building design”, said the judges.

“Most of the awards recognised sustainability and projects that exemplified exceptional architectural form. The West Kowloon Terminus is a fine example of that criteria,” added Peter Clarke.

Rohan Marwaha, CEO of Cityscape, said: “While the last year has undoubtedly been challenging, commitment to deliver real value and quality products has been unwavering. These awards highlight the great strides being made throughout the emerging markets in architectural design.”

The full list of winners is;

Commercial /Mixed Use Built - Burj Khalifa, Skidmore, Owings & Merrill LLP

Commercial / Mixed Use Future - Singapore Civic, Cultural and Retail Complex, Andrew Bromberg of Aedas

Community Built - Tripoli Congress Center, Melkan Gursel-Murat Tabanlioglu/ Tabanlioglu Architects

Community Future - Shanghai Nature Museum, Perkins+Will

Leisure Built - Mini City Model Park, EAA - Emre Arolat Architects

Leisure Future - King Abdullah International Gardens, Barton Willmore International

Residential Built - Maksimum Houses, EAA - Emre Arolat Architects

Residential Future - H Chalet, nabil gholam architects

Tourism, Travel & Transport Built - Henderson Waves, RSP Architects Planners & Engineers (Pte) Ltd

Tourism, Travel & Transport Future - West Kowloon Terminus, Andrew Bromberg of Aedas

Young Architect Award - Su-Per-form ® , Aezad Alam

Special Award - Environmental - Khawr Awqad Integrated Sustainable Lifestyle Destination, Klingmann Architects & Brand Consultants

Special Award - Islamic Architecture - King Abdullah Financial Center Mosque, FX Fowle

Special Award - Master Planning - Interpretation Center of the Archeological Site of Dougga, Tunisia, Draw Link Group

Special Award - Cultural Heritage - Dubai Municipality

Special Award - Industry Choice Award - Zayed University. Bothe Richter Teherani

Headline sponsors are Boomerang Parking Systems, Gaggenau and AGC Glass Unlimited.

The Cityscape Awards for Architecture in the Emerging Markets are held in conjunction with Cityscape Global. The flagship event of the world’s largest business-to-business real estate investment and development brand is being held in Dubai for the ninth year and has evolved from Cityscape Dubai as a result of the increased international participation it has attracted. This year the event has attracted over 180 exhibitors with participants from more than a 100 different countries and 30,000 visitors are expected during the four-day show.

For more information about Cityscape Global, please visit www.cityscapeglobal.com.


Photo caption: The winners of the Cityscape Awards for Architecture in the Emerging Markets celebrate receiving their awards.

About Cityscape

Cityscape, is the largest business-to-business real estate investment and development brand in the world, encompassing a series of major exhibitions and conferences that take place in Dubai and Abu Dhabi; Asia; Saudi Arabia; USA and Latin America; .

Cityscape Global 2010:Western investors look east to emerging markets

Western investors look east to emerging markets

Excesses in developed economies will lag on financial recovery, but emerging economies in Mid East & Asia should still offer sound ROI says expert at Cityscape

Excesses in the mature markets will stifle economic growth and therefore real estate values, pointing investors towards the emerging markets in the Middle East, South East Asia and Asia Pacific, according to real estate expert Ethan Penner, who delivered the keynote at Cityscape Global today (5 October).

US-based Penner, President of CBRE Capital Partners and Executive Managing Director, CBRE Investors, opened day two of the Cityscape Global Real Estate Investment and Development conference, delivering a keynote interview on ‘The New Paradigm for Global Finance, the Roles of Banks, the Capital Markets, and Regulators.’

“Many investors believe that real estate as asset class offers diversification away from stocks and bonds and that in my opinion is a mistake. Commercial real estate is completely and perfectly correlated one-to-one to the broader economy. The macro economic climate and the health of the financial system are the two driving forces that dominate real estate value,” commented Penner.

Penner went on to say that real estate professionals could not and do not create tenants out of thin air, only a growing economy could generate sustainable demand for space. To get ahead of the herd, an investor should understand and anticipate macro-economic change.

“Real estate, more than any other asset class is dependent on debt. It would be unheard of for a corporation to have 60-80% of its capital structure in debt, even 40% debt would be considered high risk. In real estate however this is commonplace, the average is 70% and frequently it can exceed 80% or even 90%, so when the debt capital markets catch a cold, real estate is invariably in trouble.”

Penner’s forecast for growth in the developed economies was equally sobering, “The best case scenario would be average growth of up to 1%, reminiscent of the way the Japanese economy has performed over the last twenty years,” he said.

“Moreover, Penner’s assessment of the developed and emerging real estate landscape is similar to that of US investment guru, Tom J Barrack Jr, who was a keynote speaker at the Cityscape Global Real Estate Investment conference yesterday, who claimed that the smart money was now focusing on emerging markets, which were outperforming the more mature markets in US and Europe,” said Chris Speller, Group Director, Cityscape Global.

“Naturally with emerging markets unhindered by unsustainable levels of debt and with healthy growing economies, the future of real estate looks bright. The obvious danger is that these markets once again become overheated, but Asian economies have learnt from previous economic crises, authorities are putting regulation in place to avoid future property bubbles,” added Speller.

The Cityscape Global conference which is taking place at the Dubai World Trade Centre, has attracted some of the leading minds throughout the international and regional real estate industry. Experts such as, Tim Fox, Chief Economist, Emirates NBD, Gurgit Singh, COO of Sorouh and Phillipe Baretaud, Develop Director Middle East at Accor Hospitality. Presentations were given on Islamic financing products, joint venture structures for frontier and emerging markets as well as forecasts for the regional economic outlook.

The flagship event of the world’s largest business-to-business real estate investment and development brand is being held in Dubai for the ninth year and has evolved from Cityscape Dubai as a result of the increased international participation it has attracted.
This year the event has attracted over 180 exhibitors with participants from more than a 100 different countries and 30,000 visitors are expected during the four-day show.

For more information about Cityscape Global, please visit www.cityscapeglobal.com.

Photo caption: Ethan Penner, President of CBRE Capital Partners and Executive Managing Director, CBRE Investors, USA.

About Cityscape

Cityscape, is the largest business-to-business real estate investment and development brand in the world, encompassing a series of major exhibitions and conferences that take place in Dubai and Abu Dhabi; Asia; Saudi Arabia; USA and Latin America; .

Dubai on the road to recovery , Cityscape Global witnesses wave of investor optimism after bout of positive economic news boosts confidence in Dubai..

Dubai on the road to recovery

Cityscape Global witnesses wave of investor optimism after bout of positive economic news boosts confidence in Dubai and other emerging real estate markets

Cityscape Global 2010 opened for business today (4 October), amidst a wave of optimism from regional and international investors after a spell of positive economic indicators since the Dubai World debt restructuring was completed earlier in September.

The real estate investment and development show which has thrown the spotlight on global emerging markets, runs until Thursday at Dubai World Trade Centre.

“There has been a flurry of good business news throughout the emerging markets, that have boosted investor sentiment, but none more so than Dubai recently,” said Roham Marwaha, CEO, Cityscape.

“Although Dubai World’s successful $25 billion loan restructuring was undoubtedly the catalyst, there has been other encouraging news, especially the $1.25 billion dual-tranche bond issued by Dubai Government just last week. The bond was four times oversubscribed and will be used towards infrastructure projects. A number of other key announcements have been made since,” added Marwaha.

Marwaha was clearly referring to the Nakheel confirmation that it had paid almost $1 billion to creditors and further news that it would restart work on a number of its stalled projects. Dubai Islamic bank also announced that it had increased its stake in mortgage lender Tamweel to 57% and declared that it would resume lending before the end of the year.

“Even today the Real Estate Regulatory Agency, announced that it would work with banks to raise up to $1.36 billion to try and finish 48 developments currently on hold. Also the news that Emirates Islamic Bank could merge with Dubai Bank and bring Amlak under the same umbrella could further boost liquidity into the market,” said Marwaha.

According to US investment guru, Tom J Barrack Jr, a keynote speaker at the Cityscape Global Real Estate Investment conference, who has invested over $45 billion in real estate, claimed that smart money is now focusing on emerging markets as many have dramatically outperformed more mature markets such as the US and Europe in recent years.

“Many developed economies are already heavily indebted in addition to running annual budget deficits, compounding their debt levels. These scenarios won’t unwind overnight, it will take time. On the other hand, developing economies are not running deficits and are not nearly so indebted, allowing their economies to grow quicker, giving higher returns,” said Barrack.

The flagship event of the world’s largest business-to-business real estate investment and development brand is being held in Dubai for the ninth year and has evolved from Cityscape Dubai as a result of the increased international participation it has attracted.

Sentiment on the exhibition floor matched that of the organisers and speakers. Fernando Fischmann - Creator and owner of Crystal Lagoons Corp, which is developing the largest lagoon in the world in Egypt commented: "Irrespective of the Dubai government bond, I’m confident that Dubai and the wider region will come back. However it is worth pointing out that the global crisis is not a problem for everyone, if as a developer you can add value. That makes a good investment."
Another aspect specific to the region is that 80% of the world’s largest Sovereign Wealth Funds (SWF) are based within the GCC, so many developers from mature markets are looking for investors, both institutional and high net-worth.

French exhibitor, Philippe Chaix - Managing Director, Paris La Defense, a mixed-use redevelopment in the west of Paris, concurred with both Fischmann and indeed Barrack. "Today most of our international investors are European but the Middle East represents just 3% and we have come here in a bid to increase awareness of the project throughout the region, which has huge potential for us.”

For more information about Cityscape Global, please visit www.cityscapeglobal.com.

Photo caption: US investment guru, Tom J Barrack Jr, was a keynote speaker at the Cityscape Global Real Estate Investment conference, has invested over $45 billion in real estate.

About Cityscape

Cityscape, is the largest business-to-business real estate investment and development brand in the world, encompassing a series of major exhibitions and conferences that take place in Dubai and Abu Dhabi; Asia; Saudi Arabia; USA and Latin America; .