Showing posts with label construction-realestate. Show all posts
Showing posts with label construction-realestate. Show all posts

Wednesday, December 27, 2017

Oman to float Muscat Expressway tenders in 2018

Oman's Ministry of Transport and Communications aims to float tenders for its four-lane Muscat – Bidbid Expressway project next year, said a report.

Also plans are afoot to open the Al Batinah Expressway up to Wadi Al Jizi in April, reported Oman News Agency.

In another development, the ministry has awarded Oman Global Logistics Group (Asyad), a government holding company, the contract to manage tunnels on Bidbid/Sur road.

The agreement was signed by Salim bin Mohammed Al Nuaimi, the undersecretary of the ministry and Abdul Rahman bin Salim Al Hatmi, the CEO of Asyad, said the report.

It implements the national economic diversification program ' Tanfeedh'. The project is the first of its kind using this approach, it added.

"Work is underway at the tunnels in Bidbid- Sur road at Wadi Al Uqq. The first-of-its-kind tunnel experience in the sultanate is one of the initiatives of Tanfeedh program with relation to establishing a company to manage transport and communication public projects," stated Al Nuaimi.
"Diba-Lima- Khasab road needs more than eight tunnels - each between 1.5 km to 2 km - to meet the technological developments in road projects," he added.

from Construction Realestate

Sweid & Sweid awards Dubai Banyan Tree project

UAE-based developer Sweid & Sweid has signed up Civilco Civil Engineering & Contracting Company as the lead contractor for its first Banyan Tree Residences project in the Middle East being built in Dubai.

Located on a large island overlooking The Emirates and Montgomerie golf courses, Banyan Tree Residences sits at the intersection of DMCC and Emirates Hills on Al Telal Street.

The single tower development will boast 244 residences stretched over 32 storeys and include one-, two-, three- and four-bedroom apartments, duplex apartments with private outdoor gardens, and three full-floor penthouses crowning the building, said a statement from Sweid & Sweid.

The project is scheduled for completion in the third quarter of 2019, it stated.

On the contract award, Maher Sweid, the managing partner, said: "The selection was made based on Civilco’s proven track record of successfully executing high rise projects in Dubai and throughout the UAE, along with timely completion."

“Furthermore, the company boasts extensive experience in managing projects within busy residential areas including the Burj Khalifa District and Jumeirah Lake Towers. Its strong financial standing and comprehensive network of experienced subcontractors and suppliers strengthen its prequalification as the main contractor of choice,” he stated.

Nader Dahdal. the area manager from Civilco, said: "Sweid & Sweid is an award-winning developer with exceptional standards. To be selected to complete this iconic development is a testament to our experience and expertise which will be key to ensuring Banyan Tree brand attributes are not compromised."

"We are very happy with the construction progress made to date. We are on schedule to handover and be ready for the Q3 2019 deadline," he added.

The UAE developer has also roped in Arcan Project Management as project manager.

"With decades of experience spanning countless towers, we are excited to be a part of this ground-breaking development where numerous components – including the amenities and views – make it a truly unique project in Dubai," remarked Amid Jondi, the managing director of Arcan Project Management.

Set within a gated community stretching over 110,000 sq ft, Banyan Tree Residences project will house a  residents-only Clubhouse & Spa with key features including a state-of-the-art fitness centre, an authentic Banyan Tree spa experience, saunas, a squash court, and an expansive indoor children’s play area.

Outdoors, the residents will enjoy a 31-m resort-style swimming pool, a children’s pool, a children’s play area, and a poolside café, all set along the extensive outdoor green spaces with lush landscaping, said the company in a statement.

Concierge and 24-hour security will be provided, with Banyan Tree’s management ensuring their internationally-renowned levels of service and hospitality are offered to the residents, it added.-TradeArabia News Service

from Construction Realestate

Fam rolls out hitech property management system

Leading real estate brokerage fäm Properties has unveiled a new tech-driven property management system that will transform the way real estate agents and landlords communicate in the UAE and also help tenants resolve issues more quickly.

Devised by fäm Properties, it comprises an Oracle-based customer relationship management (CRM) system linked to an Android and iOS app, both developed by the company’s in-house tech design team.

The bespoke online platform, which can be individually tailored, considers maintenance fees, service charges, incoming rent and all other financial aspects to calculate actual ROI for landlords.

It gives landlords peace of mind by delivering real time condition reports, budget forecasting and showing actual return on investment (ROI) for individual properties through a unique online platform.

Also the new system will be a boon to tenants, who often get frustrated over delayed response to urgent maintenance problems. It comes with an instant communications channel to resolve domestic issues like AC breakdowns, plumbing leaks and electrical failures.

“The objective is to take property management services to a new level, using technology to make it much faster, easier and more effective for real estate agents, landlords and tenants to talk to each other,” remarked its CEO Firas Al Msaddi.

“This is another first for the Dubai property market, and we feel it’s particularly important in the current economic climate to adopt an innovative approach to real estate overall,” he added.

Having last month launched a sophisticated market analysis tool providing real-time insights into Dubai property trends, fäm Properties believes its new property management offering will help dispel negative attitudes towards real estate agents in the UAE market.  

The new system has paperless access to all documents for each property and can receive detailed monthly, bi-annual or annual reports, and avoid time-consuming hassle of calls, emails and meetings with agents in the process.

"For investors, there’s a major advantage in being able to access real time data, speed of property manager response, photos, quotations, tenant’s satisfaction and actual ROI, as opposed to promises of 6, 7 or even 8 per cent returns and a subsequent delivery of different numbers due to lack of efficiency," remarked Ahmed Abou El Naga, the director of Asset Management for fäm Properties.

"By using the new Fixit app, which is linked to the online CRM platform, to upload information and images, tenants can instantly can bring urgent maintenance issues to the immediate attention of landlords and agents," stated Naga.

The obvious benefits of the app for the tenants are expected to boost occupancy rates for managed units, increasing profitability for landlords in the process, he added.-TradeArabia News Service

from Construction Realestate

Dubai Frame set for January opening

Dubai Frame, a 150-m-high, 93-m-wide structure built to resemble a huge picture frame at Zabeel Park offering views of both the historic and modern parts of the city, will be open to the public next month.

UAE Vice President, Prime Minister and Ruler of Dubai HH Sheikh Mohammed bin Rashid Al Maktoum, toured the award-winning cultural landmark ahead of the opening, reported state news agency Wam.

It has been designed by award-winning architect Fernando Donis, the name behind Dubai’s Porsche Design Towers, and the Dubai Renaissance Tower.

Sheikh Mohammed visited the ground floor museum of the building which showcases the UAE's history, heritage and the metropolis it has become.

He was accompanied by Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, and Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai and other senior officials.

Sheikh Mohammed then ascended one of the two towers, and crossed the 100-sq-m bridge where he viewed the historic and modern landmarks of the emirate.

The Dubai Frame is a 150-m-high, 93-m-wide structure built to resemble a huge picture frame, through which landmarks representing modern Dubai such as Emirates Towers and Burj Khalifa can be seen on one side, while from the other side, visitors can view older parts of the city such as Deira, Umm Harare and Karama, stated the report.

Lauding the project, Sheikh Mohammed said Dubai Frame was indeed an elegant architectural feat, it added.

He also praised Dubai Municipality's efforts to "achieve this cultural and global attraction, that represents a solid development for the tourism industry in the UAE."

from Construction Realestate

Contractors 'must add VAT on Saudi govt deals'

All companies which are working on contracts with government departments in Saudi Arabia need to modify their bills to include the 5 per cent VAT (value-added tax), said a report citing a senior official.

The investors in the contracting and real estate sector have all been updated on this, remarked Hamoud Al Harbi, the project manager of VAT at General Authority of Zakat and Tax (GAZT).

"We have informed contractors that any supplier who issues an invoice or receives consideration before January 1, 2018 but the actual supply of goods or services takes place on or after the date must charge VAT based on the actual date of the supply," stated Al Harbi while speaking to Saudi Gazette on the sidelines of a VAT workshop.

"Since construction services are a continuous process, then VAT is due at the earlier of the due date or the actual payment and VAT becomes due for each progress payment at the earliest of the issue of the invoice or the date of actual payment," he said.

"All contracts that were signed without factoring in VAT rate may have zero VAT under three conditions: the contracts must be in effect before May 31, 2017, the customer should be entitled to deduce input tax in respect of the supply of goods and services and finally, the customer provides a written certification to the supplier that input tax can be deducted or refunded in full," explained Al Harbi.

Under the new rules, companies must also provide financial reports every three months, failing which they will incur fines, stated the Saudi Gazette report.

On the fines, Al Harbi said: "It ranges from SR10,000 to SR100,000 for violations such as not being registered in the VAT, providing fake financial reports, not saving financial documents, not paying the VAT rate and not being co-operative with VAT officials."

However, the official said, taxpayers have the right to appeal against decisions of penalties issued by GAZT within 30 days of the date of notification.

"If taxpayers disagree with the decision issued by the VAT First Instance Committee, an extra 30 days will be given to present an appeal to the VAT Appeals Committee. This committee will issue a decision that shall be final and non-appealable before any other judicial authority," he added.

from Construction Realestate

Tuesday, December 26, 2017

Arenco Real Estate wins excellence award

Dubai-based Arenco Real Estate, part of A A Al Moosa Enterprises, was honoured as the Iconic Real Estate Company of the Year 2017 by the Middle East Excellence Awards Institute.

The award was handed to the team by Marwan Ahmed Bin Ghalita, CEO of the Real Estate Regulatory Agency (RERA) during a property summit held at Burj Al Arab where Arenco was selected amongst the GCC’s Top 25 Property Development Executive Leaders.

Arenco was recognised for its outstanding contribution to the UAE’s real estate sector for more than 40 years.

Mohammad Khoori, director, Arenco Real Estate said: “Arenco Real Estate has set the standard of excellent services and built its reputation for superior quality since its foundation in 1975, and we are honoured of being ranked among the nine property developments which were only selected and met the standards of the Top 25 Property Development Executive Leaders award. This award is a testament to the skill, ingenuity, and vision of Arenco Real Estate creators.”

Arenco Real Estate has a vast inventory of apartment units, offices and showrooms, villas, warehouses and buildings for staff accommodation across Dubai. Arenco also owns prestigious hotel names in the region which are managed by Hilton, Starwood, Marriott, Taj, Wyndham and IHG. – TradeArabia News Service

from Construction Realestate

Danube awards Dubailand residential project contract

Danube Properties, a Dubai-based property developer, has awarded a Dh221-million ($60.1 million) contract to Naresco Contracting for the construction of its residential project, Miraclz Tower, located near Miracle Gardens at Arjan district of Dubailand that will host 599 units including 591 apartments.

Owned by Abdulla Abdulkarim Al Arif, Naresco Contracting has been in the construction industry since 1986.

A member of Abdulla Al Arif Investment, Naresco is now in the process of completing Glitz Residence 3 for Danube which is getting ready for handover in a few weeks’ time.

As per the contract, Naresco will deliver the project delivered by the end of 2019.

Danube Properties, part of Dubai-based diversified conglomerate Danube Group, has launched nine residential projects, of which two have been delivered, two are getting ready for delivery while four others are at various stages of construction and one in tendering stage.

The Dubai developer had awarded five construction-related contracts worth more than Dh381 million  in 2017 – a year it started delivering homes – part of the Dh2.84 billion portfolio.

Besides the Naresco contract, Danube has also awarded a Dh146 million contract to Dubai Walls Construction for the main construction package for the Resortz project. The 17-month contract will see the project gets ready for occupancy by the second quarter of 2019.

Resortz will host 444 units including 419 apartments, 25 retail outlets, landscaped environment that appears more like a five-star resort, than a residential compound, said the developer in a statement.

Prior to that, Danube Properties has awarded a Dh10 million piling and shoring contract to Atlas Foundation for Miraclz Tower and a further Dh4 million piling and shoring contract for Resortz project.

Atif Rahman, the director and partner of Danube Properties, said: "These construction contracts reflects our deep commitment to our largest stakeholders – our valuable property buyers and investors – who have put their trust and hard-earned life savings in our projects to receive the keys to their dream homes."

"Since launching its first project in 2014, Danube has been able to deliver two projects involving 302 residential units, worth Dh270 million – part of the company’s Dh2.84 billion-strong portfolio. In the next few weeks, we are preparing to deliver 525 residential units, including 171 townhouses and 354 apartments," he added.-TradeArabia News Service

from Construction Realestate

Al Forsan leases out 95pc of staff accommodation

UAE-based Al Forsan Real Estate (AFRE) has announced that almost all of its villas and more than two-thirds of its apartments meant for employee accommodation in Abu Dhabi have been leased out.

The property arm of Al Forsan Holding, AFRE had launched its fully-furnished employee accommodation facility within its flagship - Al Forsan International Sports Resort.

The organisation develops mixed-use communities that support active lifestyle through the integration of world class sporting facilities.

From the start of the newyear, the studio apartments would be leased at Dh35,000 ($9,530) per annum inclusive of electricity, water and air conditioning charges, said the company in a statement.

AFRE developed the employee accommodation facility in a bid to fortify its position as a diversified development company. This particular venture proved highly successful when 21 out of 22 villas were promptly leased within few months of its launch, it stated.

The facility also comprises six buildings with studio apartments, of which four are completely leased out. Only 158 more studio apartments within building 3 and 4 are available for leasing, it added.

Rashed Al Qubaisi, the general manager of Al Forsan Holding, said: "The employee accommodation project was entirely different from any of our previous developments."

"We sought out to provide safe, secure and hassle-free living environment to the employees of various organisations in and around the Khalifa City area and looking at our occupancy rates, we believe we have nearly accomplished what we were set out for. Among our residents, are present employees from the aviation and hospitality industry that includes restaurants and cafes," he added.

Al Forsan Village, located within Khalifa City 'A' area of Abu Dhabi, includes 440 units of one- to four-bedroom apartments spread across 241,985 sq m. Health and luxury underpin the Al Forsan Village lifestyle for stakeholders.

Spread across 15,000 sq m, Al Forsan Village Town Square, the retail and leisure destination embedded within the project, is also home to several community-focused brands.

Most of the renowned retail stores such as Spinneys, Holland & Barrett, Tilia Flowers, illy café, Just Kidding, Street9 Café, Cheeky Monkeys, Coffee Club, Champion Cleaners, Oregano Café, Physiomins among several others are already operational. The retail community has close to 17 stores to address the needs of the residents, stated Al Qubaisi.

Since the employee accommodation facilities lie within the Al Forsan International Sports Resort, the residents are provided with the unique opportunity to benefit from the various activities available at the venue, he noted.

They get to enjoy various sports such as football, kart racing, horse riding, wakeboarding, shooting among others. All the facilities are available for the residents at corporate membership rates.

This is a unique approach to ensure that an organization’s human capital is healthy and productive at the same time, added Al Qubaisi.-TradeArabia News Service

from Construction Realestate

Al Shirawi wins IFM contract for Dubai tower

Al Shirawi FM, a leading single-source provider of integrated facilities management (IFM) in the UAE, has won the IFM contract of Prism Tower, located in Business Bay, Dubai.

Al Shirawi FM will provide MEP, housekeeping and security services for the commercial property, which boasts a total built-up area of 85,000 sq m. This is the fourth property that the company will be managing in this area, in addition to Volante, Windsor Manor and 118 Luxury Tower.

In the last three months of 2017, the facilities company won a spate of new contracts, including the re-tender of Shindagha Tunnel facilities maintenance contract. Airport Tunnel and Rashid Hospital Tunnel are the other two key assets of RTA that are managed by Al Shirawi FM.

Pramodh Idicheria, COO, Al Shirawi FM, said: “As we head into a new calendar year, we at Al Shirawi FM backed by these significant wins are brimming with confidence. We have embarked on a new operational excellence strategy that is yielding good results. The commitment and hard work of our teams, however, remain the key driver of our success and I take this time to applaud their efforts.”

Charalampos Sarafopoulos, general manager, Al Shirawi FM, said: “It is an exciting phase for us as we have much to look forward to in the new year. We have projects within different sectors, with very different requirements. Nevertheless, we are geared up to the challenge and will ensure client satisfaction across the board. We are also hoping to venture into new areas such as theme parks facilities management.” – TradeArabia News Service

from Construction Realestate

Wasl properties completes new heritage project in Dubai

Wasl properties, a subsidiary of wasl Asset Management Group, has officially completed wasl district – the company’s heritage project in the Naif area of Deira.

The project fulfils wasl’s mission to maintain the city’s rich history, and follows the launch of wasl district Souq in 2015.

Zainab Mohammed, chief property management and marketing officer at wasl properties, said: “Wasl district project is underpinned by wasl’s deep respect and appreciation for the UAE’s heritage, and the company’s ongoing efforts to preserve and share it by revitalising older areas of Dubai. Through culturally inspired real estate projects like wasl district, the company is celebrating areas of the city that may otherwise be overlooked while also providing residents with a development that offers the perfect mix of old and new. The final phase of the project incorporates residential, retail and office components. In this way, we can fulfill our mission to enhance the real estate market in Dubai and provide all options that are compatible with our different customers."

Wasl district brings residents an authentic blend of traditional Emirati architecture with a range of modern amenities and facilities. The project offers residential apartments from studios to three bedroom apartments, some with a maid’s room, that range from 495 to 2,529-sq-ft in size. Each unit is finished meticulously with premium tiles, high-quality flooring and central gas, with amenities including a swimming pool, storage rooms, gated security, a state-of-the-art gym and plenty of retail and F&B choices.

The ground floor of the project is dedicated to 15 F&B units and 23 retail units ranging from 516 to 1,011-sq-ft in size – all of which are fully equipped to meet a wide variety of retail business needs. Retailers have the option of a street-view and will benefit from high footfall in a lively district that is characterised by a holistic residential, commercial, and retail environment. The new retail spaces are complemented by the existing wasl district Souq, where visitors can find shops that sell heritage items among other merchandise.

Wasl district also features four floors of modern, commercial office spaces that range from 689 to 1,356-sq-ft in size and offer infrastructure that is suitable for all businesses. - TradeArabia News Service

from Construction Realestate

Completed constructions in Abu Dhabi surge 3.6pc in Q3

A total of 1,104 buildings have been completed in Abu Dhabi, UAE during the third quarter (Q3) of 2017, reflecting a growth of 3.6 per cent from 1,066 buildings during the corresponding period last year, a report said.

The number of completed developments during Q3 increased by 16.7 per cent against Q2, 2017 during which a total of 913 buildings were completed, reported Emirates news agency Wam, citing data from Statistics Centre- Abu Dhabi (SCAD).

Industry analysts anticipate more significant growth over the next year after the establishment of a number of housing and infrastructure developments has been approved, the report said.

In terms of geographical diversification, up to 595 buildings have been established in Abu Dhabi Region, which accounts for 54 per cent of total buildings completed emirate-wide during Q3. Up to 491 buildings were completed in Al Ain City, making up 44.5 per cent of total completed buildings in the emirate, while the rest having been completed in Al Dhafra Region.

According to SCAD figures, residential buildings totalled 951, accounting for 87 per cent of completed buildings during Q3 in addition to 33 public facilities, 49 industrial buildings, and 43 facilities, classified as residential and commercial buildings together with two agricultural buildings.

The Mohamed bin Zayed City in Abu Dhabi came first in terms of completed buildings, comprising 26.7 per cent thereof, followed by Beni Yas (10.9 per cent) , Al Shamkha (9.1 per cent), Khalifa City (7.4 per cent), while the rest of completed units are spread over the remaining areas of the capital.

The rough estimate of cost per sq m reached up to Dh2,645 ($720) for buildings ranging between 300-599 sq m in Abu Dhabi, and up to Dh2,118 for same sized buildings in Al Ain, and Dh1,876 in Al Dhafrah, with average building cost per sq m emirate-wide standing at Dh2,246.

from Construction Realestate

Monday, December 25, 2017

2017 breaks new records in skyscraper completions

More buildings of 200-m height or greater were completed in 2017 than in any other year, with a total of 144 completions, marking the fourth consecutive record-breaking year, according to a recent report by The Council on Tall Buildings and Urban Habitat (CTBUH).

That’s a remarkable increase of 95 per cent from 2013, when only 74 buildings of more than 200 meters were completed, stated CTBUH in its annual web report, titled "the 2017 Tall Building Year in Review."

Notably, 2017 was also the most geographically diverse year in terms of the number of cities and countries that completed 200-meter-plus buildings, with 69 cities across 23 countries represented in the data, up from 54 cities across 18 countries over last year.

A total of 28 cities and eight countries completed their tallest building this year. Once again, China completed a majority of the 200-m-plus buildings that finished in 2017, about 53 per cent of the total with 76 completions.

Although this is a slight decrease from 2016, when China completed 83 such buildings, or 65 per cent of the global total, China is still by far the world leader in skyscraper construction. In fact, the city with the most 200-plus-meter building completions, Shenzhen, finished 12 buildings, or 8.3 per cent of the year’s total – more than any other country on the list, except China.

The US completed the second-greatest number of 200-meter-plus buildings of any country, with 10 buildings finished in 2017, stated the CTBUH report.

On the new findings, CTBUH executive director Antony Wood said: "The data from 2017 shows a continuation of the trend towards a greater global proliferation of skyscraper construction."

"High-rise construction is no longer confined to a select few financial and business centers, but rather is becoming the accepted global model for densification as more than one million people on our planet urbanize each week. Thirteen cities saw their first 200-meter-plus high-rise completion in 2017, in addition to the 28 cities and eight countries that saw their tallest building completed this year," he added.

The functional share of tall buildings in 2017 proved to be among the most interesting discoveries in the study, as the data showed a large shift from all-office and mixed-used function to all-residential towers.
Buildings with all-residential function spiked to 49 completions, or 34 per cent of the total, up from just 19, or 15 per cent of the total last year. At the same time, all-office building completions fell to 56, or 39 per cent of the total, compared to 67, or 52 per cent of completions in 2016.

“It is tempting to speculate that we are now seeing the built results of a full-blown recovery from the 2008 economic crisis, as greater confidence in single-function programs sparks a resurgence in speculative residential development,” remarked Steve Watts, the chairman of CTBUH.

“Further, there’s been growing interest over the past several years in residential real-estate investment by absentee owners as a wealth management strategy. However, market dynamics vary greatly between regions, so it’s likely there are other factors to the story,” he added.

Of the 144 buildings of 200-m or greater height completed in 2017, 74 of them (about 51 per cent) used concrete as the main structural material; while 64 (around 44 per cent) used a composite of steel and concrete.

The significant use of concrete can be attributed to a combination of concrete’s relative ubiquity and lower cost in many regions, as well as its comparative simplicity in construction, which would increase its appeal in regions with lower-skilled labor pools, said the report.

“In 2017, two buildings had all-steel construction, consistent with the 2016 figures,” Watts said. “As of this writing, there are only seventeen 200-meter-plus buildings currently under construction that employed all-steel structural systems,” he added.-TradeArabia News Service

from Construction Realestate

Dubai ARP projects 'to boost greener aviation'

Dubai government said it has started the implementation of the Air Space Restructuring Projects (ARP) aimed at delivering enhanced airspace capacity and greener aviation.

The ARP aims at delivering crucial benefits to the aviation sector in the UAE at large, such as the enhancement of the airspace capacity to meet the forecasted air traffic demand for 2020 and beyond, and increasing access to all airports within the country, said statement from Dubai Air Navigation Services (Dans).

A major air navigation services provider of Dubai and the Northern Emirates, Dans said the newly designed airspace will help enhance its efficient utilisation to cater to growth and expansion plans in the sector.

It has ensured the implementation of 90 new air traffic management procedures and the introduction of 150 new way points, in addition to the training of 168 air traffic controllers to guarantee the successful and seamless transition to the new design of the 'Controlled Airspace' for Dubai and the Northern Emirates, it added.

In the Dubai Aviation sector in particular, the project deliverables cascade into specific transformational results on annual basis such as enabling airlines to save fuel consumption of a total value of $14.6 million, driving CO2 emission reductions of 90,401 metric tons, while also enhancing air traffic movements capacity to accommodate continuous growth in the controlled airspace for Dubai and the Northern Emirates.

Mohammed Ahli, the director-general of the Dubai Civil Aviation Authority and CEO of dans said that the project and its implementation are in accordance with the vision of the nation’s leaders to shape the future of aviation during the project, as well as the active management and noble spirit of co-operation at the General Civil Aviation Authority.

"The past three years whilst working on the project, have demonstrated the importance of cross sector collaboration for the greater benefit of the UAE," remarked Ahli.

"We are also proud to witness the Aviation sector arrive at new and unprecedented fronts, as it continues to cater to its prestigious customers of airports, airlines and authorities. It is also crucial to acknowledge the tremendous and exemplary efforts exerted by the various project teams, who ensured the successful delivery and implementation of the project," he added.-TradeArabia News Service

from Construction Realestate

UAE architect Araco marks 32 years of success

Abdul Rahim Architectural Consultants (Araco), a leading engineering consultant in design and project management in the UAE, is celebrating 32 years of its operations in the country.

Over the last three decades, Araco has been instrumental in the development of over 1,500 projects across the UAE paying particular attention and strict compliance to local and international construction standards, and practicing transparent business ethics, said the company in a statement.

It boasts a diversified portfolio comprising multi-storey residential towers and villas, commercial buildings, hospitality and industrial projects including manufacturing plants, cold stores, and warehouses, it stated.

Some of the company’s more iconic structures include futuristically-designed residential and mixed-use buildings in Dubai’s Silicon Oasis; residential towers in Jumeirah Village Circle, Business Bay, and many other locations; office and commercial buildings such as the IB Tower in Business Bay, and those in Al Garhood, Sheikh Zayed Road, and other locations in the UAE.

The company has also developed large functional warehouses in industrial zones, and many showrooms on Sheikh Zayed road.

However, Araco said it considers the work on palaces and residential villas, such as a futuristic-oceanic hybrid palace constructed on oceanfront property at Jumeirah Beach in Dubai as its most iconic projects.

The company’s projects are a testament to its drive for excellency, beauty, and in some instances unorthodoxy, it added.

Some of its key projects in the pipeline are Dubai Silicon Oasis (Ribbon of the Light Project); six buildings in Dubai’s upcoming residential area Jumeriah Village Circle; SA Properties in Barsha Heights; a G+33 typical floors in Dubailand (Majan) Wadi Al Safa; 22 buildings in Satwa area and Dh300-million twin towers at International Media Production Zone (IMPZ).

Raheem Bani Zaman Lari, the managing director and founder of Aracao, said: "Over the decades, we have been involved in numerous projects some which seemed impossible. But we developed and continue to develop our capabilities to design, construct, and supervise the creation of magnificent structures."

"We are not afraid to challenge conventional wisdom, go against the flow, and swim upstream with bold ideas: in fact, I would go so far to say that it is this organizational cultural identity that has made Araco so successful," he added.-TradeArabia News Service

from Construction Realestate

Al Rajhi Capital plans $431m IPO for REIT

Al Rajhi Capital, one of the largest investment firms in Saudi Arabia, said its real estate investment trust (REIT) fund will be launching its initial public offering (IPO) from January 1 to 14.

Al Rajhi REIT’s preliminary portfolio comprises 13 high-quality assets that generate income at the end of January and July of every year, it stated.

The fund’s assets are spread across various sectors in the kingdom, namely: retail (54 per cent), warehouses (12 per cent), offices (26 per cent) and education sector (8 per cent).

As the fund manager, Al Rajhi Capital will be offering 42.67 million units at SR10 each. Subscription will be available through Al Rajhi Bank website and Al Rajhi Capital investment centres at a minimum value of SR1,000. With this Al Rajhi REIT will have a fund size of SR1.62 billion ($431 million).
The Sharia-compliant fund aims to acquire or invest in income generating commercial, office, and educational assets, as well as warehouses, which are mainly located in the kingdom, except for Makkah and Madinah region.

"The fund’s investment target is mainly developed, income-generating assets, and focus is also on leasing and distributing at least 90 per cent of the fund’s annual net income in cash over the fund term on a semi-annual basis," said a Al Rajhi Capital spokesman.

The IPO is open only to Saudi and GCC nationals besides the institutions, companies, and investment funds operating in the kingdom, along with qualified foreign investors (QFIs) and expats living in the kingdom, he added.-TradeArabia News Service

from Construction Realestate

Barwa awards $356m Qatar labour city contract

Barwa Real Estate Company, a leading Qatar-based developer, has awarded a QR1.3 billion ($356 million) contract to Insha Company for the construction of a new labour city in capital Doha.

The company has already signed a leasing contract with the Ministry of Municipality and Environment for the rental of two plots of land spread over a total area of 1.18 million sq m on Salwa Road for a lease term of 27 years.

The land will be developed into a labour city, taking into account social, cultural and architectural standards that are consistent with the Qatar National Vision 2030.

As per the deal, Insha will be completing the construction work within a year, said the company in a statement.

Gathering all the needed facilities, the city will aim to provide housing for workers of different nationalities and cultures, especially those living in slums.

​​​​​​​​​​​​The project comes as part of the Qatari government efforts to improve the housing standards of workers and meet the needs of the local market in line with the objectives of the Qatar National Vision 2030 and Qatar's preparations for hosting the 2022 World Cup, said the statement.

Occupying an overall area of 994,567 sq m on Salwa Road, the project includes the construction of 3,170 residential houses, each comprising of eight rooms, eight bathrooms and a kitchen, in addition to retail shops and mosques with a total building area of 730,728 sq m, it stated.

The infrastructure works include setting up 25 power substations, internal roads and potable water, fire, irrigation and sewage networks as well as surveillance cameras.

An adjacent plot of 183,538 sq m has been allocated as parking lots for buses, in order to reduce traffic congestion within residential areas, it added.-TradeArabia News Service

from Construction Realestate

Sunday, December 24, 2017

UAE to build park, playground in Yemen

The Emirates Red Crescent (ERC) has signed an agreement to build and equip 'Shuhair' recreational park in Ghail Bawazir district of Hadramaut in Yemen.

The work includes the provision of electricity and water, as well as the construction of a mosque, renovating the car parking area and a children’s playing area, reported state news agency Wam.

The agreement is part of the development support provided by the ERC to bring life back to normalcy in the liberated areas of Yemen, it added.

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Egypt to launch $5.6bn development project in Sinai

The Egyptian government is set to pump in more than E£100 billion ($5.6 billion) into infrastructure development projects in the insurgency-hit Sinai peninsula over the next two to three years, said a report.

The coast of the south of the Sina peninsula is peppered with Red Sea tourist resorts, while the northern province is underdeveloped and lacks basic infrastructure and job opportunities, reported Reuters.

Security forces have battled Islamist militants in the mainly desert region, stretching from the Suez Canal eastwards to the Gaza Strip and Israel, since 2013. Militants have killed hundreds of police and soldiers, it stated.

Speaking at a ceremony to inaugurate a development project in the Suez Canal city of Ismailia, President Abdel Fattah Al Sisi said: "We have entrusted the ministry of housing and the engineering authority with a national project of comprehensive urban planning."

"The E£100 billion projects would be carried out whether I remain in power or not," he added.

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Dubai luxury tower Mada on track for Q2 delivery

Saudi-based Artar Real Estate Development said work is in full swing at Mada Residences, a luxury residential tower coming up in Downtown Dubai, and on track for delivery in the second quarter of 2018.

Artar is ending the year on a high note, having completed 30 floors of the new building, which will stand out among the rest for being delivered on time in one of Dubai’s most sought after neighbourhoods, said a top official.

"Careful planning and execution from our teams of engineers, architects and workers have allowed us to stay on track with development. As it stands, Mada Residences is the only residential building in Downtown Dubai slated for handover as promised in Q2 2018," remarked Okbah Abdulkarim, the chief operating officer at Artar.

Throughout its development, four cranes carried 6,000 tonnes of steel and 31,000 cu m of concrete that went into the construction of 36 floors containing 200 flights of stairs.

Around 13,000 sq m of fire-proof stone finish porcelain cladding and 17,000 sq m of glass make up the façade of Mada Residences, stated Abdulkarim.

"Offering a luxury residential experience in the heart of the city, with 193 spacious one-, two-, three- and four-bedroom apartments designed with liveability in mind, the tower is a one-minute walk from the new Dubai Mall extension and features a Signature Collection of nine elite 4-bedroom apartments," he added.-TradeArabia News Service

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Abu Dhabi hosts workshop for project contractors

Abu Dhabi Quality and Conformity Council (QCC), the entity responsible for developing quality infrastructure in the emirate of Abu Dhabi, hosted a workshop to introduce consultants and contractors executing infrastructure projects undertaken by the Follow-up Committee of President's Initiatives to the Council’s product and personnel certification schemes.

In line with the QCC’s aim of enhancing the quality and sustainability of the built-environment in Abu Dhabi, the workshop included detailed presentations on the conformity schemes, and examined the emirate’s current and future infrastructure needs in the context of its economic development.

In June this year, the Follow-Up Committee of President's Initiatives endorsed a raft of personnel and product conformity schemes issued by QCC.

The endorsement followed the signing of a partnership agreement that aimed to strengthen strategic collaboration between the two parties.

As per the terms of the partnership, entities that hold a Certificate of Conformity and Abu Dhabi Trustmark issued by the Council become preferred suppliers of the Committee. In addition, the Committee encourages its partners to use their products and services.

Furthermore, the agreement promotes exchange of knowledge and expertise in the construction sector and related services.

Abdullah Hassan Al Muaini, the executive director of Conformity Scheme Services at QCC, said: "The workshop is part of QCC’s drive to promote sustainable development in Abu Dhabi in collaboration with the private sector."

"Through introducing our private sector partners to QCC’s certification schemes, we seek to build local capacities to ensure that all infrastructure projects in Abu Dhabi comply with the highest local and international quality standards," stated Al Muaini.

"In order to develop state-of-the-art urban infrastructure in the emirate and drive wide-scale adoption of sustainability practices across sectors, it is vital that stakeholders in the construction industry apply our conformity schemes in projects that are taking shape," he added.-TradeArabia News Service

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