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December 13, 2024 foasummit0

Palm Jumeirah and Jumeirah Bay Island are the top choices for ultra-high-net-worth individuals (UHNWIs) in Dubai, accounting for a substantial 48% of all transactions valued at US $13.6mn or more during the first ten months of 2024, according to data from Metropolitan Premium Properties (MPP).

Other popular locations include Mohammed Bin Rashid City, Tilal Al Ghaf and Dubai Hills Estate. The overall real estate market in Dubai continues its strong showing this year, with the total market value for properties priced $13.6mn and above reaching $3,61bn as of October 2024. This growth is fueled by a combination of factors, including a growing number of UHNWIs moving to the city, increased investor confidence.

“The sustained growth of Dubai’s super-luxury real estate market is a testament to the city’s unwavering appeal as a global investment destination which is attracting investors from across the globe,” said Nikita Kuznetsov, CEO at Metropolitan Premium Properties.

“MPP witnessed a substantial increase in both the value and volume of transactions in the $13.5mn and above market segment. We saw our market share in terms of value and quantity increase by over 50% in the first ten months of the year from 2.3% to 3.5% and from 2.8% to 4.3% respectively,” added Kuznetsov.

Citizens from the United Kingdom led the acquisitions in the 50M+ category, followed by the USA, Canada, Germany and the UAE.

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Source: ME Construction News


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December 13, 2024 foasummit0

First APAC Fund VCC (Fund), a Singaporean investment fund, signed Memorandum of Understanding (MOU) to invest up to US $1.35bn in Dubai-based AMIS Development. The partnership is said to reflect the fund’s confidence in Dubai’s real estate market and AMIS Development’s reputation for high-value developments.

AMIS Development has multiple upcoming projects in areas of Dubai that have received high interest from its customers, investors and partners. The investment by First APAC Fund will be used by AMIS Development to further expand its growth, both locally and internationally by growing its land bank, project pipeline, global brand partnerships, project team and investments in technology. AMIS Development’s portfolio represents innovative design, amenities, and prime locations.

Neeraj Mishra, Founder and CEO of AMIS Development said: “We are proud to partner with First APAC Fund VCC, a globally respected fund with a proven track record. Their investment reaffirms our focus on luxury real-estate development and increases our ability to launch larger and more exciting projects for our customers. An investment from an international well renowned fund like First APAC Fund also confirms the international investors’ confidence in our mission to deliver truly exceptional quality of developments and to build well-integrated communities, while also providing high ROI to investors in our units or projects.”

Darrell Lim, Founder and Shareholder of the First APAC Fund VCC added: “This partnership reflects our commitment to identifying high-potential investment opportunities in key markets. Dubai’s burgeoning real estate sector and AMIS Development’s exceptional leadership team, management systems and track record make this collaboration an exciting prospect.”

The Fund along with PPA is currently in the process of completing its due diligence on AMIS Development. PPA has further appointed Greenback Capital Limited, a CAT 3C firm incorporated as a private company in the Dubai International Financial Centre (DIFC), as the Sub Investment Manager (GBCL) to provide sub-investment management services to the Fund Manager, in respect of the Sub-Fund. GBCL will aid in evaluating and structuring the Transaction on behalf of the Sub-Fund.

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Source: ME Construction News


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December 13, 2024 foasummit0

The Sustainable City – Yiti has reached a major milestone with the completion of 96% of its infrastructure works. The eco-friendly community designed to accommodate approximately 10,000 people is set to be fully operational in 2026.

The infrastructure for the central plaza is now fully completed, with construction reaching 31% for the plaza itself. Additionally, 33% of the construction work for the villas and the broader Sustainable District is now finalised. Meanwhile, construction of the school and nursery commenced in September 2024.

The next phase of development will focus on vital community components, including a 4-star hotel, and wellness centre, which have been awarded to contractors. Additional planned components encompass the autism village, equestrian club, sports complex, SEE Lab, bridges, public solar parking, and a biogas plant.

Developed by Diamond Developers, a subsidiary of SEE Holding, in collaboration with Oman Tourism Development Company (OMRAN), The Sustainable City – Yiti aims to set a new benchmark for eco-friendly developments in Oman and the region. Phase one which has completely sold out, and the sales performance of phase two reflect a growing appetite for sustainable living solutions. Notably, Omani nationals represented 55% of the buyers in phase one, underscoring the project’s strong appeal to the local community, said a statement.

Mahmoud Shehada, Chief Sales and Marketing Officer at The Sustainable City – Yiti said, “This milestone marks a significant step forward in our journey to redefine urban living in Oman and the region. The Sustainable City – Yiti embodies our vision of creating thriving sustainable communities that prioritize environmental responsibility, innovation, and quality of life, in line with the sustainability objectives of Oman Vision 2040. As we near the completion of infrastructure works, we are one step closer to delivering a community that meets the growing demand for sustainable living and serves as a blueprint for net zero urban developments across the globe.”

The Sustainable City – Yiti is to be Oman’s first Net Zero emission community by 2040. Spanning nearly one million sqm, the development is a model for low-carbon living, integrating technologies to enhance sustainability. Furthermore, The Sustainable City – Yiti is committed to 100% water recycling, 100% waste diversion from landfills, and achieving 80% self-sufficiency in food production.

The community is designed to reduce the per capita carbon footprint of its residents by an impressive 78% compared to conventional housing in Oman. This goal is achieved by addressing emissions across six core pillars of environmental sustainability: food, energy, water, products, mobility, and waste. The development incorporates eco-friendly materials in construction and interiors, while aiming to be powered entirely by renewable energy.

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Source: ME Construction News


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December 13, 2024 foasummit0

Aldar has signed a strategic US $626mn deal with Dubai-based H&H Development for one of the largest commercial tower acquisitions registered in Dubai International Financial Centre (DIFC). The deal will harness the expertise of Aldar and H&H Development, bringing forward an exceptional, world-class development, said a statement.

Designed by architectural firm Herzog & de Meuron, the tower is targeting LEED Platinum certification. With flexible floorplates for tenant customisation, the tower will offer a blend of multi-tenanted and single-tenanted spaces to suit diverse leasing needs. Set for completion in 2028, the tower will include commercial and retail space split across 40 floors.

H&H has a number of key projects in DIFC, including the Four Seasons Hotel Dubai International Financial Centre and the upcoming Janu Hotel and Residences, which is adjacent to the commercial tower acquired by Aldar.

The transaction reflects Aldar’s commitment to further scaling its Grade A commercial portfolio and positions the company as the only UAE developer with commercial assets in both ADGM and DIFC.

The acquisition also complements Aldar’s recent expansion into Dubai’s commercial real estate market, with the acquisition of 6 Falak, the development of a Grade A office tower on Sheikh Zayed Road, and a mixed-use joint venture with Expo City Dubai.

Aldar Group CEO, Talal Al Dhiyebi, said: “Expanding into Dubai’s DIFC marks a significant milestone in our growth, providing Aldar with key exposure to the emirate’s financial centre. This acquisition not only diversifies our commercial portfolio but also responds to the sustained demand for high-quality office spaces, driven by a favourable macroeconomic backdrop and the UAE’s position as a global business hub. As we continue to expand in Dubai, this tower will serve as a flagship asset, delivering flexible, premium commercial spaces that meet the evolving needs of multinational and regional businesses.”

Shahab Lutfi, Chairman of H&H Development, commented: “This underscores H&H Development’s commitment to bringing together the best architects, designers, and operators, which will further enhance the DIFC skyline and reinforce Dubai’s position as a global business hub, with Grade A commercial spaces that set an international benchmark for premium quality.”

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Source: ME Construction News


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December 12, 2024 foasummit0

Nokia announced the opening of ‘NextGen Lab’ providing an interactive environment for local businesses and partners to experience and explore Nokia’s latest technologies. The Lab is in Riyadh district, Laysen Valley, and aims to accelerate Saudi Arabia’s digital infrastructure ambitions as outlined in its Vision 2030 strategy.

With the growing interest and initiatives on OPEN RAN, increased demand for private networks and smart city solutions, as well as the rapid deployment of 5G & 5G-SA in Saudi and in MEA, there is a need for adoption of advanced mobile network technologies in the region. Therefore, in collaboration with leading technology partners such as Dell Technologies the Lab will demonstrate Open RAN, enabling flexible and interoperable networks that meet the demands of an increasingly connected society.

The Lab will explore innovative technologies such as O-RAN and Cloud RAN through Nokia’s anyRAN approach and Nokia’s commitment to open, flexible networks that drive industry collaboration. This includes multi-vendor interoperability and advanced carrier aggregation to achieve high-speed connectivity.

The Lab will also focus on developing and testing smart city applications that empower industries to explore new business models, optimise operations, and enhance security. It will also explore solutions that support Saudi Arabia’s environmental targets by researching energy-efficient solutions designed to reduce carbon emissions and optimise power consumption.

Ali Jitawi, Market Unit Head of Mobile Networks at Nokia, Saudi Arabia said, “Saudi Arabia is a technology innovation hub in the MEA region, with ambitious digital transformation initiatives under Vision 2030, making it an ideal testing ground for next-generation solutions. The launch of the Nokia NextGen Lab in Riyadh therefore reflects our commitment to supporting Saudi Arabia’s vision for a connected, digitally advanced society. By providing hands-on access to next-generation technologies, we’re empowering local industries to unlock the benefits of modern connectivity. This lab represents our dedication to driving digital growth and supporting the Kingdom’s leadership in the regional digital transformation journey.”

Although based in Saudi Arabia, Nokia’s NextGen Lab is open to Nokia’s partners from across the Middle East and Africa (MEA) region, providing enterprises and governments with access to cutting-edge connectivity solutions.

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Source: ME Construction News


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December 12, 2024 foasummit0

The architecture, engineering and construction (AEC) industry is changing rapidly. While innovation is robust, point solution advancements have not dramatically improved overall design processes. As a result, AEC companies continue adopting new disconnected software tools while being frustrated at failures to design faster and collaborate more effectively.

Meanwhile, building information modelling (BIM) has been touted for decades as the mechanism to improve design collaboration, improve take-off calculations and reduce onsite construction issues—all challenges faced by AEC companies. Unfortunately, all BIM software data exists in silos, and designers continue to operate in the context of stale data, which limits design productivity improvements.

Consider this question: what if your AEC business could say goodbye to the common industry experience of using dozens of unintegrated applications that slow projects and raise costs? For many, the answer is you can. Many AEC companies can boost productivity by adopting a single multidisciplinary design tool to design capital assets and infrastructure. Read on to learn the ultra-collaborative benefits of letting multiple teams use one design solution with continuously up-to-date data.

Accelerate capital asset and BIM design processes using a single multidisciplinary tool

Capital asset development produces large volumes of data that’s stored across multiple systems and databases. Furthermore, AEC design teams typically use disjointed design tools and apps that work in silos. Moving data between these applications can be time-consuming and involves many spreadsheets and other ad hoc documents, affecting quality and the bottom line.

What’s the business impact? Project leaders struggle to visualise their data, manage it and gain insights for decision-making. With so many design tools and systems used simultaneously, potential issues may not be identified until the construction stage, resulting in additional costs, unpredictable design change processes and delays.

The good news is that you can reduce these challenges using a single integrated, multi-discipline product design solution that enables data to flow seamlessly between applications. Your data will always be accessible and up to date, and you’ll eliminate the error-prone manual processes involved in moving data between applications.

Integrate your engineering teams to design faster and reduce costs

With the tremendous capital project investments in the AEC industries, businesses must quickly improve inefficient design processes and workflows.

By adopting a single, multidisciplinary design tool, your company can:

  • Accelerate BIM execution goals by combining multiple disciplines (e.g. electrical, piping, HVAC, steel structures, structural, etc.) into a collaborative, integrated engineering environment with robust enterprise data management capabilities.
  • Develop and visualise all possible design configurations while managing change requests during the various development process phases
  • Improve quality and reduce costs with simplified validation and verification processes that improve design integrity and sustainability
  • Reduce the total cost of design software ownership through ‘value-based licensing’ which provides designers faster access to the full range of design functionality without having to acquire more licenses

A construction industry leader uses multidisciplinary design software for improved efficiency and profitability

The Obermeyer Corporate Group (Obermeyer) is an independent engineering consultancy that offers technical and integrated planning for nearly all fields of construction planning, including buildings, transportation infrastructure, energy and environment.

The company needed to unify its IT environment and establish a consistent and integrated planning process, including its BIM process. In this Obermeyer case study, you’ll learn how they:

  • Supported standardisation and optimisation of processes and best practices
  • Fully leveraged 3D planning as part of the BIM process
  • Achieved consistency across processes
  • Realised shorter planning cycles while delivering higher-quality construction plans
  • Improved profitability and operational efficiency

Embrace collaborative design to quickly create and document capital assets

To design next-generation capital assets while meeting BIM goals, AEC businesses need multidisciplinary collaboration between teams from different disciplines, including architecture, mechanical, electrical, plumbing, and other stakeholders.

Using multidisciplinary software, teams can coordinate better to create a more integrated and efficient design. The result? In scenarios like BIM design, changes are incorporated, and multiple teams will work on the most up-to-date datasets throughout the asset lifecycle. Teams can also detect issues early on, estimate required changes and implement them efficiently.

To learn more about using a multidisciplinary approach for better AEC and BIM project outcomes, watch the recent webinar by Siemens: Unravelling the AEC & BIM spider web: The case for integrated solutions.

The post Unleash BIM’s potential appeared first on Middle East Construction News.


Source: ME Construction News


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December 12, 2024 foasummit0

Highlighting their vision for future mobility, the Road Transport and Authority (RTA) emphasised the importance of public-private cooperation in achieving 25% smart and driverless transportation in Dubai by 2030. The importance of collaboration between different entities, including private and public partnerships, to create a business model and ecosystem for innovative mobility was discussed.

Under Dubai’s Self-Driving strategy, 25% of all transportation trips in Dubai will be smart and driverless by 2030. This transformation is expected to deliver far-reaching benefits, including improved quality of life and happiness, a 12% increase in safety, a 12% reduction in emissions, and a 20% increase in mobility efficiency, to name a few.

The discussions showcased Dubai’s vision of future mobility, featuring multiple modes of transport, including robot taxis, driverless metro, self-driving buses, and marine services. Emerging technologies such as the Hyperloop, vertical take-off and landing solutions, peer-to-peer shared mobility systems, AI-driven guidance tools, and sustainable options like electric, hybrid, and hydrogen-fuelled vehicles were also discussed.

Khaled Al Awadhi, Director, Transportation Systems Department, Roads and Transport Authority said, “The success pillars for Dubai’s innovative mobility projects include leadership and vision, team building, knowledge and capabilities, innovation, infrastructure support, and a supportive economy. Collaboration between public institutions and technology providers is crucial in creating an innovation ecosystem. The private sector plays a vital role in testing, certification, and research and development for autonomous transport solutions in Dubai.”

Other key discussions centred around the automotive industry’s move towards greater efficiency and sustainability. Trends such as electrification, climate-neutral solutions, connected mobility, autonomous driving, and Mobility-as-a-Service are driving the next wave of advancements, laying the groundwork for a revolutionary shift by 2030.

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Source: ME Construction News


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December 12, 2024 foasummit0

Saudi oil giant Aramco has announced the signing of a Joint Development and Cost Sharing Agreement (JDCSA) with TotalEnergies and Saudi Investment Recycling Company (SIRC) to assess the development of a sustainable aviation fuels (SAF) production unit in the Kingdom. The collaboration will draw on the expertise of the three partners to develop a SAF production unit, able to convert local residues from the circular economy, such as used cooking oil and animal fats, into suitable fuels for the aviation sector.

The deal was signed in the presence of French President Emmanuel Macron, while on an official visit to the Kingdom of Saudi Arabia, and Saudi Minister of Energy, Prince Abdulaziz bin Salman Al Saud.

On the strategic collaboration, Aramco President & CEO, Amin H. Nasser said, “With demand for air travel forecast to grow, it’s becoming imperative to address aviation emissions through lower-carbon alternatives such as sustainable aviation fuels.”

“This is where major global energy companies like Aramco and TotalEnergies can play a part, by collaborating to help meet this need. Addressing transport emissions requires a wide range of approaches and Aramco is pursuing a number of potential innovative solutions, as we seek opportunities to make an impact. We already have a well-established partnership with TotalEnergies and this new collaboration demonstrates our intent to explore ways to leverage our combined strengths, in this case with a view to establishing a sustainable aviation fuels plant in the Kingdom with SIRC. As Saudi Arabia’s tourism and aviation sectors expand, this could potentially benefit both domestic and international airlines.”

Patrick Pouyanné, Chairman and CEO of TotalEnergies added, “We are delighted to be partnering with Aramco and SIRC to study the production of sustainable aviation fuels in the kingdom. By leveraging our collective expertise, we can take a further step towards the decarbonisation of air transport together.”

“SAF is at the heart of our company’s transition strategy, as we strive to meet the aviation industry’s demand to reduce its carbon footprint. Saudi Arabia is emblematic of our multi-energy strategy aimed at supporting the energy transition of oil and gas producing countries. This SAF production project contributes to the country’s Green Initiative and Vision 2030’s objectives,” he concluded.

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Source: ME Construction News


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December 11, 2024 foasummit0

Gensler has published its 2025 Design Forecast Report and identified design trends that will impact the real estate and built environment in 2025, emphasising a new age of city centre design that is human-centered to include adaptable spaces.

With forward-thinking research and strategic advice, the trend report empowers clients and industry partners to tackle today’s critical challenges and create a positive impact in their communities, said a statement from the firm.

“This year’s Design Forecast demonstrates how bold, visionary design can address global challenges and make a tangible impact. We are at a transformative moment in our industry, one that demands groundbreaking ideas and innovative solutions to enhance the human experience. Looking ahead, we are optimistic about design’s potential to shape a sustainable future that inspires and positively impacts people in meaningful ways,” said Tim Martin and Tariq Sheikh, Co-Regional Managing Directors and Principals at Gensler Middle East.

The report highlights five key trends shaping the future of cities, the global surge in sustainable design, and what is driving the built environment across the Middle East in 2025:

  • Experience-driven lifestyle districts reignite global cities – Mixed use lifestyle and entertainment districts will take centre stage in 2025 as the new anchors for cities looking to drive community engagement and bring people together around visceral shared experiences. Hospitality, retail, sports, and residential spaces make up the mix of these experience-driven areas, the rise of which is also driving demand for safe streets and reliable transit options
  • Demand for sustainable design supercharges innovation and value – The sustainable surge is also driving demand for game-changing innovations in construction processes and the materials industry. Adaptive reuse of old buildings, energy-efficient designs, weather-scenario planning, and other green techniques are anticipating local climate challenges, while reducing waste and carbon emissions. Solutions such low- or no-carbon interior finishes and furnishings, and zero-carbon cement are leading the materials revolution

  • Deeply discounted buildings drive a conversion boom: As the cost of capital comes down, 2025 will usher in a new financial environment that will inspire developers to seek out creative conversions of all types. Specifically the Middle East region is expected to see conversion from hospitality to healthcare, sports to retail, office to residential and more
  • The workplace of the future has arrived: In 2025, tenants will continue to search for workplace experiences that motivate employees and meet their professional aspirations. Class A buildings close to transit and within the 20-minute lifestyle mix. In Abu Dhabi, Gensler’s design for a cybersecurity firm applies urban design principles to create a multi-functional workspace
  • Luxury housing meets growing demand: Attainable market-rate housing becomes the number one priority for cities around the world in 2025 as new financial incentives and lowering interest rates converge with changes to zoning laws and building codes to create an attractive market for housing developments of all types
  • Mixed-income developments gaining traction, with affordable housing projects balancing rapid urban expansion in cities like Riyadh and Jeddah. These initiatives aim to address the needs of a growing middle class, while supporting government ambitions to improve homeownership rates. The integration of smart city concepts, cultural heritage preservation, and green infrastructure is redefining housing in the Kingdom, aligning with its aspirations for a more sustainable urban future

As cities worldwide face evolving challenges, Gensler’s 2025 Design Forecast offers a blueprint for building adaptable, sustainable environments that put people at the center. By advancing adaptive reuse, setting new standards in sustainable materials, and mixed housing solutions, the global teams are re-imagining how design can shape the vibrant, flexible communities of tomorrow, the statement outlined.

The post Gensler identifies key development trends in 2025 Design Forecast Report appeared first on Middle East Construction News.


Source: ME Construction News


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December 11, 2024 foasummit0

Gulf Warehousing Company has announced that its wholly-owned subsidiary, GWC Energy Services, has signed a deal with Saudi Offshore Fabrication Company (OFC) to develop 100,000sqm of ‘Grade A’ logistics facilities at Ras Al Khair Industrial Port.

Under this agreement, GWC Energy Services will develop OFC’s storage and logistics facilities, leveraging its expertise in logistics and energy supply chain solutions to ensure the facilities are optimised to best serve clients’ needs.

After signing the deal with Engineer Fahhad Alharbi, Chief Executive Officer of OFC, Matthew Kearns, Deputy CEO of GWC commented, “This collaboration represents a significant step in our expansion strategy and reinforces our commitment to strengthening our footprint in the Saudi market. Recently, GWC has also signed a head of Terms with GFH Financial Group (GFH) to develop 200,000sqm of Grade A logistics facilities across key locations in Saudi Arabia, including Riyadh, Jeddah, and Dammam. Combining the expertise of GWC Energy Services with the capabilities of OFC will drive operational excellence and efficiency.”

“This collaboration also underscores our dedication to strengthening our regional presence through strategic partnerships with leading companies, further cementing our position as a leading logistics and supply chain solutions provider across the region,” he added.

 Established in 2022, OFC emerged as the first Saudi company specialising in manufacturing offshore rigs and providing comprehensive offshore logistics support to drilling contractors, offshore platforms, and subsea pipeline projects for Saudi Aramco and other key players in the Gulf region, said a statement.

Funded by Aramco’s Wa’ed Ventures and the Saudi Social Development Bank, OFC is strategically positioned at Ras Al-Khair Port, close to the world’s largest offshore field, Safaniyah, and the King Salman International Complex for Maritime Industries and Services, the largest full-service marine yard in the Middle East, it concluded.

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Source: ME Construction News