Tag Archives: classifieds
Prayers as Nelson Mandela remains critical
Prayers as Nelson Mandela remains critical (Agencies) / 28 June 2013 South Africans prayed and waited as the condition of ailing anti-apartheid leader Nelson Mandela continued to be critical, forcing President Jacob Zuma to cancel a trip to neighbouring Mozambique. Zuma had been due to attend a summit in Maputo of the Southern African Development Community to discuss regional infrastructure, but pulled out after visiting the 94-year-old former president in hospital late on Wednesday. But a government statement said Mandela’s condition improved overnight and is now “stable” while still critical. The statement followed a visit by President Zuma — his second in the past 24 hours — to the anti-apartheid hero in a Pretoria hospital, where he is being treated for a lung infection. “He is much better today than he was when I saw him last night. The medical team continues to do a sterling job,” Zuma said in a statement released by his office. US President Barack Obama said Nelson Mandela was a “hero for the world” whose legacy would live on throughout the ages. “He is a personal hero. I think he is a hero for the world, and if and when he passes from this place, one thing I think we all know is that his legacy is one that will linger on throughout the ages,” Obama said in Senegal. 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
Qatari Amir set to hand over power to son
Qatari Amir set to hand over power to son (Reuters) / 25 June 2013 The Amir of Qatar, His Highness Shaikh Hamad bin Khalifa Al Thani, 61, informed members of the ruling family on Monday of his decision to hand over power to Crown Prince Shaikh Tamim after a meeting in Doha, the Qatari-owned television channel Al Jazeera said. A Gulf official said the announcement of the transfer of power would be made later on Monday. The royal court said in a statement that the Amir would make a speech later and Tuesday would be a national holiday. Qatari political analyst Mohammed Al Misfer told Al Jazeera that he did not expect major changes in the event of a handover, adding that Shaikh Tamim was already involved in running the country under his father’s direction. Diplomats said earlier this month that he Amir was considering an orderly transfer of power that would probably begin with the departure of the powerful Prime Minister and Foreign Minister, Shaikh Hamad bin Jassim Al Thani. Arab and Western diplomats said they understood the motive was the Amir’s desire to have a smooth transition to a younger generation. The Amir has elevated Qatar’s international profile in recent years through the launch and development of the Al Jazeera television network, as well as its successful bid to host the 2022 soccer World Cup tournament. Qatar has played a substantial role in promoting Arab Spring protests, lending significant support to rebels who toppled and killed Libyan leader Muammar Gaddafi in 2011 and to a continuing uprising against Syrian President Bashar Al Assad. It has also played host to a delegation of the Afghan Taleban, which opened an office in Doha last week in preparation for expected talks with the United States about how to end a 12-year-old conflict in Afghanistan. Eman Ebed Alkadi of the Eurasia Group consultants wrote that she did not expect Qatari domestic priorities or its foreign policies to change significantly with a change of ruler. “Tamim has controlled key policies in Qatar for some time, and shares his father’s views on political development in Qatar and economic diversification,” Alkadi wrote. National budgets had been agreed up until 2016-2017, Alkadi said, and with preparations for the World Cup in full swing, much change in domestic momentum was unlikely. Qatar is the world’s largest exporter of LNG, an achievement that set the country on a track to achieve double-digit economic growth for several consecutive years, during a time when many Western nations were mired in recession. This spurred a population boom, with inhabitants surging from 500,000 to 1.9 million in the last decade. Continue reading
