Eltizam Asset Management Group, a leading physical asset management company in the GCC, is looking to acquire companies from multiple sectors including Facilities Management, Owners Association Management and Property Management within the country and throughout the GCC in order to further enhance their position within the regional market. The company has demonstrated its intentions to fulfil this vision by assigning a value of AED 200 million for M&A (mergers and acquisitions) activity, with expansion in Oman, Kuwait and Kingdom of Saudi Arabia (KSA) already planned through strategic JV’s and M&A agreements. Eltizam is currently in discussions with a number of…
Author: Kasun Illankoon
ECC Renovations, an entity of ECC Group, specializing in small-to-medium scale niche construction, renovation and fit-out works, were recently awarded the contract for Dusit Princess Residences located in the heart of Dubai Marina. The scope of work of the project includes the external façade renovation along with cladding, waterproofing and restructuring of the surface. Located in Dubai Marina, the project required extensive structural calculations, expertise and innovative solutions due to its location and dynamic weather conditions. Raneesh Mundon, Project Manager at ECC Renovations, commented: “Challenging and innovative projects are our key areas of expertise, where we truly excel. We emphasize…
The total value of the UAE’s Logistics and Distribution sectors have grown to Dh76.78 billion in 2017 and represent about 5.4 per cent of the Dh1.42 trillion economy, according to the Annual Economic Report 2018, published by the UAE Ministry of Economy. These two sectors are growing at 7.9 percent per annum. They are expected to drive the growth of the UAE economy till 2023, according to another report by Dubai Chamber of Commerce and Industry. “Real GDP of the UAE’s non-oil sector is projected grow at an average rate of 4.1 per cent between 2019 and 2023, compared to…
Custom Equipment LLC, an industry leader in high-quality, low-level access equipment, introduces the all-new ZT-1630, the ultimate compact lift with precision maneuverability. The new lift is a member of the Zero-Turn Series, part of Hy-Brid Lifts’ next generation of lifts. The ZT-1630 is a premium machine built with professional operators in mind, making it ideal for applications including construction, facility maintenance and more. The ZT-1630 is the tallest offering from Hy-Brid Lifts, delivering a 16-foot platform height and a working height of 22 feet. “The ZT-1630 is a natural extension to our product line,” said Terry Dolan, Hy-Brid Lifts president…
JLL, the world’s leading real estate advisory firm, released its Abu Dhabi Q1 Real Estate Market Overview today at Cityscape Abu Dhabi, reporting subdued conditions and relatively unchanged performance across most sectors. An uplift in market sentiment is expected in the long run following government initiatives announced in 2018 to stimulate demand and drive diversified economic growth from the capital’s real estate sector, but these initiatives have had little impact to date. The office market saw an increased number of enquiries in the first quarter and is expected to stabilise by the end of 2019, with limited expected declines in…
Chaired by HE Omar Sultan Al Olama, Minister of State for Artificial Intelligence, the Dubai Future Council on Artificial Intelligence discussed at its first meeting plans and trends to strengthen Dubai’s position and leadership in future sectors and how the role of artificial intelligence will further enhance Dubai’s status as a future global city. One of 13 Councils launched by His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Chairman of the Executive Council and Chairman of the Board of Trustees at Dubai Future Foundation, the Dubai Future Council on Artificial Intelligence aims to enhance…
Two architecture students from Ajman University have today beaten out competition from other top universities around the country to be awarded first and second place in a challenge to present affordable and desirable architectural ideas that will serve the current and futures youth needs of the UAE. His Excellency Mr. Saif Rashed Al Mazroui representing the Minister of State for Higher Education & Advanced Skills presented the joint winners of the first place 10,000 AED prize, and internships with challenge setters, P&T Group, were announced to be Nahel Al Darwish and Abdelrahim Al Rinawi. Eight other competitors were also awarded…
The World Steel Association’s (worldsteel) Economic Committee, led by Engineer Saeed Ghumran Al Remeithi, Chief Executive Officer of Emirates Steel and Chairman of the worldsteel Economic Committee, has released today its Short Range Outlook (SRO), following its bi-annual meeting in Madrid, Spain. According to the report, worldsteel projects global steel demand will reach 1,735 Mt in 2019, an increase of 1.3% over 2018. In 2020, it forecasts global steel demand growing by 0.9% to reach 1,752 Mt. Commenting on the outlook, Eng. Al Remeithi said: “In 2019 and 2020, global steel demand is expected to continue to grow, but growth…
National Central Cooling Company PJSC, the leading UAE-based international cooling provider, announced today that the Board of Directors has appointed Bader Saeed Al Lamki as the Company’s new Chief Executive Officer, effective 21st April, 2019. Khaled Al Qubaisi, Chairman of Tabreed, commented, “I am very pleased to welcome Bader Al Lamki to Tabreed. His vast expertise makes him the ideal successor to steer the company during the next stage of its growth strategy and further drive its operating and financial performance. His considerable industry knowledge will be invaluable to us as we continue our expansion and seek to further efficiency…
Town Square Dubai by Nshama, which focuses on building homes highly sought-after by families in trendy neighborhoods away from the bustle, will hand over 5,000 additional residences this year taking the total number of homes handed over to more than 6,600. By end-2019, Town Square Dubai will be home to over 18,000 people making it one of the thriving residential communities in Dubai. Fred Durie, Chief Executive Officer of Nshama, said: “Working with established contractors, we are making strong progress on the delivery of an additional 5,000 homes that deliver on the promise of ‘live life at your price’ in…