Despite headwinds and economic turmoil associated with the currency devaluation in Egypt, the value of projects awarded in 2022 represented approximately 21% of the total value recorded in the Middle East and North Africa (MENA) region, indicating a year-on-year spike since 2020. This was attributed to a record inflow of foreign direct investments (FDIs), which increased by 71% for fiscal year (FY) 2021/2022, as well as regional developers investing in critical infrastructure projects, highlighting a resilient real estate sector. Although the International Monetary Fund (IMF) lowered its prediction for Egypt’s real gross domestic product (GDP) for FY 2022/2023 to 4%,…
Author: Kasun Illankoon
by Ajay Mangara, Associate Director at Turner & Townsend Data centres are essential for the growing digital world, yet they are one of the most energy-intensive building types, consuming 10 to 50 times per floor space more than that of a typical commercial office building. Water consumption is also majorly high, with some studies suggesting that a typical data centre might require as much as three to five million gallons per day, equivalent to the amount used by a city of 30,000-50,000 people! Reports also suggest that yearly energy consumption is growing, with an estimated share being between three…
Deira Enrichment Project (DEP) and Dubai Gold Souk Extension (DGSE) announced the launch of their Ramadan promotional campaign. This year, DEP and DGSE are inviting UAE’s residents to experience the joy of giving through an exciting Shop & Win campaign that will run throughout the holy month of Ramadan. Shoppers will have the chance to win a variety of captivating prizes, offering them the opportunity to create lasting memories with those closest to them. Starting on March 25th and running until April 15th, the promotional campaign will feature over 500 participating retail outlets and 40 restaurants. During this time, customers…
Abu Dhabi University (ADU), one of the leading academic institutions in the Middle East and North Africa (MENA) region, has signed a memorandum of understanding (MoU) with Atkins, the leading global design, engineering and project management consultancy, that aims to enhance academic cooperation and exchange of scientific expertise between the two organizations in nuclear and energy sectors in the UAE. As part of the five-year agreement, ADU will partner with Atkins to develop and deliver targeted trainings, activities and events that present educational programs about nuclear power and energy solutions and collaborate on research and scientific studies in the field.…
Rosewood Hotels & Resorts®, a global leader in luxury travel and lifestyle experiences, has been selected by Red Sea Global, a responsible multi-project developer, to manage Rosewood Amaala in one of the world’s most pristine environments, the Red Sea Region of Saudi Arabia. An area considered to be at the center of the world’s most ambitious regenerative tourism projects, the Red Sea is situated along the country’s west coast and is home to some of the most diverse and delicate natural environments. Rosewood Amaala will be part of Red Sea Global’s Amaala destination, an integrated wellness haven. Rosewood…
LEAD Development has today announced the unveiling of its marina community – Marsa Al Jubail – offering a contented lifestyle with a focus on nature and wellness, which will be located in Marfaa Al Jubail village. Set among the mangrove forests, the marina community’s gleaming white yachts and striking contemporary architecture will provide residents with a tranquil lifestyle with the 65-berth marina surround by a promenade that culminates in a perfect sunset observation point at the western end. A key highlight of the unveiling of Marsa Al Jubail is the signature Yacht Club – a modern, two-level space which will…
In conversation with Talal Moafaq Al Gaddah, Senior Executive Vice Chairman of MAG, about the concept of Keturah and the state of the Dubai real estate market. You recently introduced Keturah to the market, could you further explain this concept? Keturah is an Arabic word that refers to a fragrance traditionally diffused throughout the home to welcome guests. Sounding like ‘couture’ also makes it the perfect term for bespoke new luxury. This new concept combines luxury, well-being, real estate, and hospitality to redefine transformational living in the region, providing residents and visitors with a unique, healthier environment and uplifting inspired…
The Construction Innovation Network, hosted by Cedars Pavilion, took place on March 24th and 25th of March at Radisson Blu Hotel, Dubai Media City. The event saw property developers from Cyprus showcasing their latest project offerings to the Arab World. Projects range from luxury residential apartments, hotel resorts, and recreational projects, and mixed-use development projects. Leading developers such as Edge Development, Limassol Greens, Platinum Properties Cyprus, 415 Development Ltd, Quality Group, Numai Real Estate and many more were present at the event. Present at the event was Jason C. Jasonides, Deputy Mayor, Larnaca Municipality, who was there to promote Larnaca’s…
The fourth edition of the Innovation in FM Awards 2023 is set to take place on June 9th at Sofitel Dubai the Palm and companies are now welcome to nominate for the awards. To nominate: https://www.cbnme.com/innovation-in-fm-awards-2023/ Innovation in Facilities Management Awards 2023 is one of the leading events applauding the achievements of the region’s facilities management professionals. The awards strive to recognise individual excellence ,corporate strengths, projects ,technology and innovation success. Companies are invited to nominate the people ,projects ,and initiatives of which they are most proud of, across 24 categories. The awards presentation will happen at a gala dinner…
Cutting-edge property management software has been developed and launched by a Dubai-based company. Manage My Property is the only property management firm in Dubai that uses this new, bespoke business process management application, which boasts 125 automated processes that streamline the complexities of property management and significantly reduce the risk of human error. The software allows for a seamless property management experience enabling landlords to accelerate the rental process and save valuable time and money. It allows a safe and digital archive of all documents protected by the highest level of firewalls. Certified with ISO 27001 standard, recognised worldwide to…