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Record increase in private-jet movements in Dubai

The top four destinations that contributed to the increase during H1 2021 were Russia, India, the Maldives and Turkey…reports Asian Lite News

Mohammed bin Rashid Aerospace Hub (MBRAH), based in Dubai South, announced that private-jet movements continued their impressive growth in 2021, with more than a 346 percent increase in H1 2021, reaching 8,088 compared to 1,811 in H1 2020 and 3,056 in H1 2019.

The top four destinations that contributed to the increase during H1 2021 were Russia, India, the Maldives and Turkey, according to an MBRAH statement on Wednesday.

Tahnoon Saif, CEO of MBRAH, said, “The booking velocity is attributed to a diverse range of factors, including the Dubai government on one hand, which has been extremely active in working with all sectors to successfully instil confidence, empower businesses and foster development. On the other hand, Dubai, given its quick recovery post-pandemic, proved to be the ideal destination for tourism, living, and, most importantly, conducting business.

“The continuous growth in jet movements is a testament to the farsighted leadership that ensured the emirate emerged as one of the most resilient cities in the world. Furthermore, the stringent protocols pertaining to the hygiene and safety measures that we have taken paved the way to enticing international travellers to visit Dubai,” Saif said.

He added, “At MBRAH, we will spare no effort in consolidating Dubai’s position on the global travel map. We are truly dedicated to setting in place the required ecosystem for our valued passengers, leaving no room for error; their safety is part and parcel of our mandate, and, thus, we will deliver what we promised.”

MBRAH offers global aerospace players high-level connectivity and is a free-zone destination for the world’s leading private-jet companies and associated industries. Located in and developed by Dubai South, MBRAH is home to maintenance centres as well as to training and education campuses and seeks to strengthen engineering industries.

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Dubai ruler inaugurates series of new road networks

Sheikh Mohammed bin Rashid said “UAE continues to implement strategic initiatives that support the country’s aspirations for the next 50 years and boost the competitiveness of its vital sectors.”…reports Asian Lite News

Sheikh Mohammed bin Rashid Al Maktoum, Prime Minister and Ruler of Dubai, has inaugurated a series of road networks and strategic development projects implemented with the aim of shortening the distance and transportation time between various regions and emirates in the country.

Completed at a total cost of AED1.95 billion, the projects are part of vital development initiatives that are expected to facilitate commercial growth and encourage domestic tourism.

Sheikh Mohammed bin Rashid said “UAE continues to implement strategic initiatives that support the country’s aspirations for the next 50 years and boost the competitiveness of its vital sectors.”

He said the country’s infrastructure projects are designed to provide an environment where both individuals and institutions can achieve their fullest potential.

“We are constantly seeking to implement new strategic projects that can generate economic value by more closely integrating various regions in the country, enhancing productivity and creating fresh investment prospects, which in turn can bring new opportunities for the country’s people and institutions,” he stated.

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“Our infrastructure initiatives aim to strengthen the country’s status as a global model for sustainable development and provide its people with a quality of life that rivals the world’s best,” Sheikh Mohammed added.

Featuring a total gross road length of 112 kilometres, the road projects inaugurated include a network of tracks, roads, intersections and bridges in three main axes.

The first axis, Sheikh Khalifa bin Zayed Road, is a new route that represents an extension of the Sheikh Khalifa Road (E84) leading to the Emirate of Fujairah. This axis extends from the intersection of Sheikh Khalifa Road with Sharjah-Kalba Road (E102) and continues through the Mleiha area and Al Madam area in the Emirate of Sharjah and ends in the Al Shuwaib area in the Emirate of Abu Dhabi. The 52 km route has three lanes in each direction, with a design speed of 140 km/h.

The second axis is Al-Watan Road, which represents a direct connection route between various regions, with three lanes in each direction, featuring a length of 42 km and a design speed of 120 km/h. This axis extends from the Hatta area, passing through the Masfout area in the Emirate of Ajman, the Almunaee area and the mountains of Wadi Al Qor in the Emirate of Ras Al Khaimah and intersects with the first axis in the Mleiha area in the Emirate of Sharjah.

The third axis of the project is the Dubai-Hatta Road, which includes the development and improvement of the current Dubai-Hatta road between Nizwa and Al Madam areas within the Emirate of Sharjah, with three lanes in each direction instead of two lanes, at a speed of 120 km/h. The length of this lane is 18 km.

The road includes the construction of an upper crossing for vehicles in the Madam area and two bridges over the Madam roundabout. The project also includes the development of the current lower crossing leading to Al Nizwa area and the construction of four pedestrian bridges in the Madam area. The project aims to improve traffic safety and the flow of vehicles on the road.

ALSO READ: Dubai sees AED5.3 bn of weeklong real estate transactions

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Dubai sees AED5.3 bn of weeklong real estate transactions

102 plots were sold for AED628.89 million, 1,164 apartments and villas were sold for AED2.35 billion…reports Asian Lite News

A total of 1,705 real estate and properties transactions valued at AED5.3 billion were recorded in total during the week ending 8th July 2021, according to Dubai Land Department (DLD).

102 plots were sold for AED628.89 million, 1,164 apartments and villas were sold for AED2.35 billion, the DLD weekly report noted.

The top three transactions were a land in Hadaeq Sheikh Mohammed Bin Rashid sold for AED86 million, followed by a land that was sold for AED61 million in Island 2, and a land sold for AED86 million in Hadaeq Sheikh Mohammed Bin Rashid in third place.

Nad Al Shiba First recorded the most transactions for this week by 17 sales transactions worth AED39.06 million, followed by Hadaeq Sheikh Mohammed Bin Rashid with 16 sales transactions worth AED 204.95 million, and Jumeirah First with 12 sales transactions worth AED102 million in third place.

The top three transfers for apartments and villas were an apartment was sold for AED374 million in Marsa Dubai, an apartment was second in the list sold for AED216 million in Burj Khalifa, and thirdly it was an apartment sold for AED200 million in Palm Jumeirah.

The sum of the amount of mortgaged properties for the week was AED1 billion, with the highest being a land in Business Bay, mortgaged for AED250 million.

97 properties were granted between first-degree relatives worth AED984 million.

ALSO READ: Dubai high-rise construction makes a comeback

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DP World broadens logistics reach in Africa

This will enhance DP World’s capabilities, particularly in Africa, building on its extensive infrastructure of ports, terminals and economic zones….reports Asian Lite News

DP World announced an offer to acquire JSE-listed Imperial Logistics, an integrated logistics and market access company with operations mainly across the African continent and in Europe.

This will enhance DP World’s capabilities, particularly in Africa, building on its extensive infrastructure of ports, terminals and economic zones.

DP World’s cash offer of ZAR66 per share implies an equity consideration of around ZAR12.7bn (around US$890mn).

It represents a premium of 39.5 percent to the Imperial share price as of 7th July 2021 on the Johannesburg Stock Exchange (JSE) and a 34.2 percent premium to the 30-day volume weighted average price.

This transaction is subject to Imperial’s shareholder approval and other customary completion conditions including regulatory approvals.

Imperial is an integrated logistics and market access solutions provider with a presence across 25 countries, including a significant footprint in the high growth Africa market.

The Group focuses on fast-growing industries including healthcare, consumer, automotive, chemicals, industrial and commodities.

“The acquisition of Imperial will help DP World to build better and more efficient supply chains for the owners of cargo, especially in Africa,” said Sultan Ahmed Bin Sulayem, Group Chairman and CEO, DP World.

“Imperial’s operations are complementary to our network of ports, terminals and logistics operations on the continent. Like DP World, Imperial’s biggest asset is its people, and we look forward to welcoming employees of Imperial into the DP World team on successful conclusion of the transaction.”

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Dubai high-rise construction makes a comeback

The Business Bay tower will include an Olympic-size infinity pool and an outdoor winter cinema, the developer said in a stock exchange filing….reports Asian Lite News

Deyaar Development has revealed plans for a 1 billion dirham ($272 million) skyscraper in Dubai as high-rise construction in the emirate revives.

The Business Bay tower will include an Olympic-size infinity pool and an outdoor winter cinema, the developer said in a stock exchange filing.

Deyaar CEO Saeed Al-Qatami said the project would “set a new benchmark for high-end urban living in the heart of the city.”

Dubai developers have been encouraged to announce new projects amid rising demand for luxury real estate in parts of the emirate and despite a continuing glut of new homes due to be completed.

The developer, which is majority-owned by Dubai Islamic Bank, said units in its tallest ever project will be offered with a 10 percent down payment and a seven-year repayment plan.

Meanwhile, most economic and commercial activities in the UAE showed positive signs in May, recording their best performances since the start of the COVID-19 pandemic and highlighting the solid recovery of key sectors that support the national economy.

Registered activities in May 2021 suggested a growing demand, amidst signs suggesting that demand will further increase in the coming months.

Statistics from the Federal Competitiveness and Statistics Centre (FCSC) reported increases in price indexes covering the seven sectors that constitute the UAE’s Consumer Price Index (CPI), led by the culture and entertainment sector, whose index rose to 106.36 points in May 2021, compared to 103.68 points in April.

The clothing and footwear sector recorded 115.02 points compared to 114.03 points during the same reporting period in April, while the food and beverage sector recorded 107.57 points in May compared to 106.82 points in April.

The other goods and services sector rose to 115.75 points from 114.77 points, including the restaurants and hotels sector rising to 115.85 points from 115.09 points, the health sector increased to 106.31 points from 106.17 points, and the transport services sector recorded 110.80 points, rising from 110.33 points.

The tobacco and education sectors also witnessed steady performances, while other indexes that comprise the CPI declined.

In light of these performances, the CPI in the UAE surged to 106.49 points in May 2021, a growth of 0.25 percent compared to April.

ALSO READ: Dubai ruler aims to leverage Dubai as first economy capital

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Dubai ruler aims to leverage Dubai as first economy capital

Sheikh Mohammed recently approved the new Board of Directors of Dubai Chambers as part of efforts to enhance their contributions to Dubai’s economy…reports Asian Lite News

”Economy has priority in the next stage, and we must mobilise all our creative minds and our exceptional efforts to catapult Dubai’s economy to new heights,” said His Highness Sheikh Mohammed bin Rashid Al Maktoum, Prime Minister and Ruler of Dubai.

He was speaking during a meeting with the Board of Directors of Dubai Chambers after the major restructuring where he formed three entities – Dubai Chamber of Commerce, Dubai Chamber of Digital Economy and Dubai Chamber of International Trade.

Sheikh Mohammed recently approved the new Board of Directors of Dubai Chambers as part of efforts to enhance their contributions to Dubai’s economy, and to catalyse Dubai’s economic transformation and further reinforce the city’s rise as a global business hub.

”Establishing a solid and prosperous economy is at the center of our priorities,” Shiekh Mohammed added.

“The global economy has undergone a tremendous change.. Dubai has developed and made great leaps.. Today we are the global capital of economy,” he further added. “Today, we are thinking about the next fifty years, and we are also thinking for future generations. This is a duty for all of us.”

“Our goal is to leverage Dubai as the first economy capital in the world,” he concluded.

The Board will work to create a comprehensive unified strategy for Dubai Chambers, set key priorities and objectives, propose major initiatives to advance Dubai’s strategic economic development, and ensure streamlined coordination and integration between the three chambers, the WAM reported.

The Board of Dubai Chambers seeks to accelerate the growth of the Dubai economy by promoting Dubai as a global business hub and attracting multinational companies. The Dubai Chamber of International Trade will represent and support the interests of local companies with international presence and international companies based in Dubai, it added.

It will also support Dubai’s vision to expand to new global markets, forge new economic partnerships and support local companies in achieving global success, while also attracting promising talent and investors from across the world

The Dubai Chamber of International Trade seeks to cover 30 international markets that are considered important markets for Dubai through promotional projects.

The Dubai Chamber of Digital Economy is tasked with launching projects and developing studies on the new future economy, as part of efforts to build the world’s best digital infrastructure and transform Dubai into an international technology hub.

With the objective of promoting the interests of technology companies and advancing the role of the digital economy in the emirate, the new chamber will build a network of relationships with local and international tech entrepreneurs and investment funds. It will also help draft legislations in Dubai and the UAE to create a growth-friendly environment for the digital economy.

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Burmese grapes from Assam exported to Dubai

North-Eastern states are becoming part of the agricultural and processed food products export map…reports Asian Lite News

In a major boost to harness the export potential of agricultural and processed food products from north-eastern states, a shipment of fresh Burmese grapes referred as ‘Leteku’ in Assamese language has been exported to Dubai from Guwahati by air route.

According to the Ministry of Commerce and Industry, a consignment of Leteku, which contains vitamin C and Iron, was sourced and packed at a collection center in Darang district of Assam.

The consignment was exported by the Agricultural and Processed Food Products Export Development Authority (APEDA) registered Kiega EXIM Pvt. Ltd from Guwahati airport to Dubai via Delhi.

APEDA has been carrying out promotional activities to bring the North-Eastern states on the agricultural and processed food products export map of India.

Recently, APEDA facilitated exports of the first consignment of ‘red rice’ to the USA from Assam. Iron rich ‘red rice’ is grown in Brahmaputra valley of Assam, without the use of any chemical fertilizer. The rice variety is referred to as ‘Bao-dhaan’, which is an integral part of Assamese food.

Ripe fruits of Burmese grapes(WIKIPEDIA)


APEDA assisted in exports of Geographical Indications (GI) certified KajiNemu (Assam lemon) to London. So far around 40 metric tonnes of Assam Lemon has been exported.

Jackfruits sourced from the Tripura based Krishi Sahyog Agro Producer Company Ltd was exported to London.

APEDA has provided financial assistance to the private sector to set up a pack house at Guwahati which has fulfilled the mandatory requirement or infrastructure for export of fresh fruits and vegetables to Europe.

The organization undertakes market promotion activities for evolving structured marketing strategies for export of food products, market intelligence for taking informed decisions, international exposure, skill development, capacity building and high-quality packaging.

“APEDA would continue to focus on the north eastern region both in terms of capacity building, quality upgradation, and infrastructure development. Linking buyers to farmers, strengthening the entire supply chain of agricultural produce from the north-eastern region would bring in dividends,” the Commerce ministry said in a statement. (INN)

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Dubai court appoints experts to oversee Arabtec’s liquidation

Arabtec Holding PJSC(Wikipedia)

The decision was taken after the court appointed a panel to analyse the bankruptcy application….reports Asian Lite News

Arabtec Holding’s bankruptcy plea has been accepted by a Dubai court. The construction company behind iconic structures such as the Burj Khalifa and the Louvre Abu Dhabi, had submitted a petition to the court, following the company’s former group CEO Wail Farsakh’s resignation in February 2021.

The decision was taken after the court appointed a panel comprising seven experts to analyse the bankruptcy application.

In a statement to Dubai Financial Market (DFM) on Monday, the company said that the court has appointed a trustee for each entity, to publish the bankruptcy decision of each one, review its debts, deposit a list and a record of its creditors and “conduct all the procedures stipulated under the Bankruptcy Law within 35 days from the date of the appointment notification”, reported Arabian Business.

@DubaiCourts

Arabtec Holding’s subsidiaries include – Arabtec Construction, Austrian Arabian Readymix Concrete Co. LLC, Arabtec Precast LLC, Arabtec Constructions LLC and Emirates Falcon Electromechanical Co. (EFECO LLC).

While on December 17, the company, which was valued at about AED30 billion ($8.17bn) at its peak in 2014, said it and some of its subsidiaries had filed for insolvent liquidation pursuant to the resolutions of its shareholders on September 30 and November 30.

The court has scheduled the next hearing for July 26 to follow up on the procedures taken by the trustees.

Arabtec shareholders had authorised the board of the Dubai-listed construction company to file for liquidation in September 2020. This was due to its untenable financial position following the fallout from the coronavirus pandemic.

ALSO READ: Dubai records real estate deals worth AED11.11 bn in May

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Dubai firm uses solar power to make water out of air

The new technology uses solar energy to power a fan that draws in air, which then goes through a sponge-like material where water molecules are absorbed….reports Asian Lite News

A Dubai-based company is using solar energy to produce water out of air. Source Global, which was established in Dubai in 2017, recently introduced sun-powered hydro-panels to make clean drinking water.

It is aiming to get 75 percent of its energy use from clean sources by 2050, CNN reported.

“These hydro panels are effectively producing high quality drinking water day in, day out without requiring any infrastructure, any power or any type of grid,” the company’s Vice President Vahid Fotuhi told CNN in an interview.

The new technology uses solar energy to power a fan that draws in air, which then goes through a sponge-like material where water molecules are absorbed.

Source Global, which operates in 48 countries, chose Dubai to develop its biggest water farm because of the emirate’s keenness to invest in innovation, Fotuhi said.

“First of all, the fact that it is a hub for the Middle East Africa region, it also is a center for new innovations for key sectors, such as agriculture and water,” he explained.

Technologies that turn air into water are not new, but Fotuhi said they want to make it more sustainable by adopting a clean energy strategy.

Experts said the challenge with these technologies is distribution, but Source Global thinks getting people on board harder.

People here are accustomed to a staple solution for water generation and what we’re proposing is kind of diversified menu effectively,” he said. “As with most disruptive technologies, initially people are hesitant to change.”

ALSO READ: Dubai records real estate deals worth AED11.11 bn in May

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Dubai records real estate deals worth AED11.11 bn in May

A total of 20,989 real estate sale transactions were recorded from January to May worth AED 47.19 billion…reports Asian Lite News

The number of real estate transactions in the Emirate of Dubai in May 2021 reached 4,429, the highest total sales transaction values since March 2017 in excess of AED11.11 billion, with a growth of 1.4 percent compared to last April.

A total of 20,989 real estate sale transactions were recorded from January to May worth AED 47.19 billion, according to Mo’asher, Dubai’s official sales price index.

It added that Dubai’s real estate market has achieved a new record, the highest over the past four years in terms of the value of real estate sales transactions, thus highlighting the emirate’s attractiveness and flexibility in attracting real estate investments, and emphasising Dubai as one of the best global real estate destinations and the most capable of adapting to various conditions and global developments.

The 15th edition of price index, launched by Dubai Land Department (DLD), in cooperation with Property Finder, shows that May 2021 had the highest total sales transaction values since March 2017 in excess of AED11.11 billion, with a growth 1.4 percent compared to last April.

The base year for Mo’asher is 2012 and the base month for the monthly index is January 2012. In May 2021, the overall monthly Index recorded 1.071 and an index price of AED 1,007,529, the apartments monthly Index recorded 1.085 and an index price of AED 904,476 and the villas/townhouses monthly Index recorded 0.993 and an index price of AED 1,773,164.

The total number of sales transactions grow by 215 percent and the total value of sales transactions by 357 percent since May 2020. To break this down, the off-plan market sales transactions volume grew by 74 percent since last year, and the secondary market, which has been in high demand since the pandemic started, has grown by over 466 percent .

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In May 2021, 62 percent of all transactions were for secondary/ready properties in May 2021 and 38 percent were for off-plan properties. In addition, 77 percent of sales transactions were for apartments and 23 percent were for villa/townhouses. When we look at the volume of transactions, the off-plan market transacted 1,674 properties worth AED 2.58 billion and the secondary market transacted 2,755 properties worth AED 8.53 billion.

In the villas/townhouses sector, 10.1 percent of all sales in May 2021 took place in Mohammed bin Rashid City, followed by Dubailand (7.6 percent), Dubai Hills Estate (7.4 percent), Arabian Ranches 3 (6.5 percent) and Town Square (6.4 percent). Looking at apartments, 10.8 percent of all sales transactions took place in Jumeirah Lake Towers, followed by Dubai Marina (9.2 percent), Jumeirah Village Circle (8.6 percent), DownTown Dubai (7.4 percent), and Business Bay (5.7 percent) according to data from Property Finder.

According to proprietary Property Finder demand data, the top areas of interest in terms of searches for villas/townhouses in May 2021 were Dubai Hills Estate, Arabian Ranches, Palm Jumeirah, Damac Hills, and Mohamed bin Rashid City. As for apartments for the same period, the top areas of interest were Dubai Marina, Downtown Dubai, Palm Jumeirah, Business Bay, and Jumeirah Village Circle.

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