Sports
UAE leaders congratulate Qatar’s newly-crowned Amir
UAE leaders congratulate Qatar’s newly-crowned Amir (Wam) / 25 June 2013 The President, His Highness Shaikh Khalifa bin Zayed Al Nahyan, has sent a congratulatory cable to His Highness Shaikh Tamim Bin Hamad Al Thani, on the occasion of his taking the reins of power in the State of Qatar. His Highness expressed his congratulations and best wishes to the Amir of Qatar, stressing the depth of brotherly relations between the two countries. His Highness Shaikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, and General Shaikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, also dispatched similar cables to Shaikh Tamim. Continue reading
Dubai’s real estate delivery to define its global position
Dubai’s real estate delivery to define its global position Staff Report / 25 June 2013 Dubai’s leading real estate developers are placing a huge weight in the delivery of projects, following a spate of high profile announcements. With the resurgence in property prices over the past 18 months, a host of projects have been brought to the Dubai market as demand drives a second phase of development — but there is also a great deal of building work taking place in the city. Buyers are returning to the market in big numbers, with more stringent and protective legislation providing reassurance and confidence in the market. The Dubai Statistics Centre recently announced that 736 buildings were completed in Q1 2013, a 6.6 per cent increase compared to the previous quarter, with a value of Dh3.73 billion, against Dh3.5 billion. The report also indicated that multi-story buildings had the largest share of the delivery in Q1 2013, making up 39 per cent, with a value of Dh1.44 billion, against Dh1.34 billion in Q4 2012. “It can’t just be announcements; it is critically important to show action and consistent progress,” said Ziad El Chaar, MD at Damac Properties. “Dubai will define its global position in the coming couple of years as international investors watch the speed of delivery for these major projects.” “Alongside a prime location and a luxurious living environment, delivery timelines is now one of the top three deciding factors for any buyer,” added El Chaar. “Clients want to look at your track record of delivery to ensure you deliver what your promise.” Damac Properties has launched a number of iconic projects across the region in recent months, including a host of luxury serviced hotel apartments in the Burj Area of Dubai and Riyadh. In December 2012, The Distinction – a 195 metre, 53 storey, iconic tower in the Burj Area, was announced and in just six months the project has already passed the third floor of development. The luxury serviced hotel apartments will be completed by the first quarter of 2015. At the start of last year Damac Properties announced Upper Crest – overlooking the world’s largest tower and within walking distance of the world’s largest shopping mall. The 44-storey tower is fully-furnished with serviced studios, one, two and three bedroom apartments. The project has already moved past the sixth floor and will be ready to handover by the end of next year. The company has also continued its development overseas, with DAMAC Esclusiva, its luxurious serviced hotel apartments tower in the heart of Riyadh. Nearly 100 owners have taken handover this month at the Residence at Business Central, with people already living in the luxury private apartments with views across the Burj Area. More than 50 clients in June have also taken handover of their new units in The Signature – Damac Properties’ first luxury serviced apartments unit to open, which will be managed by Damac Maison. Across the road from Dubai Mall, The Signature is a stunning development in a prime location, offering the most opulent interiors and unrivalled customer service. Damac Properties has already completed 8,890 units to date, with a further 5,193 units to be completed before the end of the year – 2,810 of which will be serviced hotel apartments, positioning the company as one of the largest hotel apartment operators and developers in the world. — business@khaleejtimes.com Continue reading
UAE for peaceful resolution of all issues with Iran
UAE for peaceful resolution of all issues with Iran Staff Reporter / 25 June 2013 The UAE is for long-lasting and effective confidence-building measures (CBMs) and peaceful resolution of all outstanding issues with its neighbour Iran, the Ministry of Foreign Affairs said in a statement issued to Emirates News Agency (WAM) on Monday. The ministry statement said the UAE also continues to contribute to the international efforts aimed at securing global peace and prosperity. “Despite the long-running dispute with Iran on the question of the three occupied UAE islands of Abu Musa and Greater and Lesser Tunbs and worries about Iran’s nuclear programme, the UAE has kept open all channels of constructive engagement that could result in a mechanism for confidence-building measures and the peaceful resolution of all outstanding issues,” the statement added. However, the ministry affirmed that while continuing to demand the restoration of the UAE’s full sovereignty over the three islands, the country remains committed to its proposal that the issue should be settled either through direct, serious negotiations or by referral to the International Court of Justice. About Syria, the ministry said the UAE was concerned about the appalling and dangerous conflict there. “As has been noted by the Foreign Minister, the UAE supports the emergence of a non-sectarian government in the country which will protect the rights of its various communities. With regards to the current and escalating civil conflict, the UAE has provided substantial support for refugees in neighbouring countries, while participating in the Friends of Syria group, supporting Arab and international initiatives to bring the bloodshed to an end and in the work of the Task Force entrusted with future reconstruction of the Syrian economy,” the policy statement added. The UAE is one of the major contributors to humanitarian assistance and development projects in Palestine, as well as to the direct budget of the Palestinian Authority. Overall, the UAE has provided over $3 billion in aid to the Palestinians, including development funds for infrastructure, housing, hospital and school projects. In addition, the country donated $174 million towards reconstruction in Gaza. Aid to Afghanistan, Pakistan About peace efforts in Afghanistan, the statement said the UAE continues to contribute constructively to the international efforts aimed at stabilising war-torn country. “Besides the active role played by units of the UAE Armed Forces in supporting the Afghan Governments to restore the security, the UAE has also provided Dh5.5 billion in aid to Afghanistan, mainly devoted to infrastructure: road-building, schools, mosques and hospitals,” the ministry said in the statement. The UAE is the only Arab country performing humanitarian activities on the ground in Afghanistan. The country also emphasises the importance of achieving harmony, building confidence and strengthening cooperation between Afghanistan and its neighbours, particularly Pakistan. Given Pakistan’s proximity to the Gulf region, the UAE has continued to affirm the importance of that country’s stability. The Project to Assist Pakistan is carrying out 28 development and humanitarian projects worth $54.5 million in South Waziristan province, including schools and colleges. Beyond the region, the UAE’s foreign policy continues to adapt to accommodate the evolving changes in the global community. As part of its pragmatic approach, the UAE is building bilateral and multilateral relations with both industrialised and developing countries, while strengthening ties both with its traditional allies in the West and with those in South and East Asia. Referring to the country’s nuclear energy policy, the ministry statement said the country’s quest for nuclear energy also witnessed intense diplomatic efforts to develop cooperation mechanisms to guarantee a credible and comprehensive civilian programme. news@khaleejtimes.com Continue reading
