Abu Dhabi Airports Company (ADAC) announced that it has received approval from the Executive Council for the construction of the new Midfield Terminal Complex (MTC) at Abu Dhabi International Airport. The MTC is destined to become the primary gateway for airlines operating to Abu Dhabi and the future home of Etihad Airways, the national airline of the UAE.

The Midfield Terminal Building, which is expected to go live in the first half of 2017, is the key component of the MTC development programme at the airport and it will contribute to the long-term success of the aviation sector in the Emirate of Abu Dhabi.

Commenting on the government approval, Chairman of ADAC, H.E. Khalifa Al Mazrouei said: “The approval of the Executive Council on the capacity expansion programme for Abu Dhabi International Airport confirms Abu Dhabi’s commitment to deliver a World Class airport for the emirate that will be on a par with the best international airports in the world.”

H.E. added: “This development represents one of the largest investments by the Government to deliver the needed infrastructure, in line with Abu Dhabi Plan 2030, that will cater to the growth of the aviation sector in the region and confirms Abu Dhabi’s strong position in the global air transportation network. ADAC looks forward to appointing the Midfield Terminal Building contractors and creating this key infrastructure asset for the Emirate of Abu Dhabi.”

Abu Dhabi International Airport continues to be one of the fastest growing airports in the world, with record growth rates of 19.7% over the last five years, spurred by the rapid development of its hub airline, Etihad Airways and the increasing attraction of Abu Dhabi as a destination for business and leisure. The airport currently handles in excess of 12 million passengers per year and growth over the next 20 years is forecast to be robust, requiring additional facilities to accommodate the increased traffic demand.

The 700,000-square-meter terminal building is one of the most crucial projects to be undertaken in the UAE and will initially handle 27-30 million passengers per year. Tenders for the construction of the terminal were received in November 2011 and the anticipated contract award represents the next key milestone for the Emirate in its drive to develop a world-class air transportation hub.

Following the completion of extensive site preparation, piling and foundation works in 2010 and 2011, construction of the Midfield Terminal Building (MTB) is planned to commence during the 2nd quarter of 2012.

ADAC is currently evaluating tenders for the appointment of a general contractor for MTB and an award will be announced in due course. Further works are currently being prepared or are in process for the airfield construction, deep utilities and services and other crucial support facilities.

The construction of the new terminal is the next major stage in the overall development of Abu Dhabi International Airport. Since the expansion programme was initiated in 2006, a new 60m wide, 4,100m long runway was completed in 2008, facilitating the full operation of next generation Code F A-380 aircraft. Terminal 3, currently home to Etihad Airways, was opened in 2008 with a floor area of 70,000 sq m and 33 check-in counters. In 2011, a new 110m high air traffic control complex was commissioned, the highest in the region, and it includes advanced air traffic control systems together with on-site training facilities. In parallel with these new development projects, the expansion programme has also delivered an award-winning refurbishment of Terminal 1 and the construction of new aircraft parking stands to meet the continuing increase in passenger demand.

Further capacity increases in the existing terminals are also planned to handle increasing volumes of transfer passengers prior to the opening of the new terminal. The capacity enhancement programme would include the development of a passenger arrival hall, bus gates, security screening facilities and additional A380 capable gates and stands. In addition, extensive work would be carried out, in parallel with the MTB, to develop the East Midfield; a new 200 ha support area that would include facilities for cargo handling, in-flight catering, ground handling and other ancillary facilities that support the growth of the airport. As an airport with significant land reserves and free trade zone status, ADAC is also working with private investors to develop complementary commercial activities on the airport. Current projects include a new hotel linked to Terminal 3, a retail link, and the T3 business park.

At its inception, in 2006, ADAC assumed the management roles of Abu Dhabi and Al Ain International Airports and then took over management roles for three more airports and added six new subsidiaries to provide aviation related services that would support the delivery of ADAC’s vision.

Al Bateen Executive Airport received a new identity and role in 2009, when ADAC succeeded in turning it from a military airport to the region’s dedicated business aviation airport, and recording a 36% increase in commercial aircraft movement in 2010 over 2009, just after the General Civil Aviation Authority (GCAA) certified it as a civil airport. ADAC has also added Sir Bani Yas Island and Delma Island Airports to its group of assets to ensure effective and quality operation that would deliver towards the vision for the Emirate’s aviation services.

In addition to expanding and developing Abu Dhabi’s five airports, ADAC has established key subsidiaries with world-class facilities to support its business operations and efforts to raise the profile of the aviation industry in the country. Each of these companies has delivered remarkable results in the recent years, to lead the market within each of its specialized activity and services provided. ADAC’s award winning group of assets include Abu Dhabi Airport Services (ADAS), Abu Dhabi In-Flight catering (ADIFC), Abu Dhabi Duty Free (ADDF), Abu Dhabi Cargo Company (ADCC), Abu Dhabi Hospitality Services (ADHS), Skycity to develop ADAC’s free zones, and the Gulf Centre for Aviation Studies (GCAS).

Dar Al Arkan Real Estate Development Company will be the diamond sponsor of the 15th Riyadh Real Estate & Urban Development Exhibition taking place at the end of next April as the largest real estate fair in the Kingdom.

DAAR booth will be the biggest occupying an area of 360 square meters showcasing company’s outstanding achievements and pioneer projects in comprehensive real estate and urban development.

Mr. Yousef Al-Shalash, Chairman, cited “Dar Al Arkan is participating in this fair aiming to display its expertise and achievements regarding development of real estate market in general and, particularly, the residential market which is unprecedentedly being supported by Saudi government. Accordingly, the private sector is required to align its plans with this state support to meet the increasing demand for homes”, adding “As Dar Al Arkan is the pioneer developer of residential projects in the Kingdom, it is vigorously accountable to its national obligations and vows unequivocal alignment with government’s residence policies. This is attained by construction of fully-integrated residence environments in line with company’s vision of comprehensive and corporate development of residential districts in its mega projects in the Kingdom.”

DAAR sponsorship of the exhibition is part of backing real estate-motivating events and activities which constitute significant and vital media for communicating specialists in real estate sector and other related sectors to exchange knowledge, expertise and opinions beneficial to the growth of real estate sector in the region, as well as communicating different social strata and company clients to know their needs and demands and to show them company’s products.

Al Hamra Real Estate development, one of the largest developers in Ras Al Khaimah, maintains a positive outlook for 2012 with the completion and handover of phase three of its prestigious Al Hamra Village project, which includes The Royal Breeze Residences.

Al Hamra Village is enjoying a total occupancy of approximately 84% and the coming year is set to see more new developments with the completion of the Waldorf Astoria Hotel at Al Hamra Palace and the expansion at Al Hamra Mall.

Apart from the residential comforts, Al Hamra Village also provides attractions such as the Al Hamra Fort Hotel & Beach Resort, Banyan Tree beach Resort, Al Hamra Palace Hotel & Resort, Al Hamra Golf Club, Al Hamra Marina & Royal Yacht Club, Al Hamra Mall as well as several restaurants.

The Royal Breeze Residence, at phase three of Al Hamra Village is the prestigious shoreline property comprising of five residential towers with stunning views of the turquoise waters of the Arabian Gulf and lush greens of Al Hamra Golf Club. The Royal Breeze Residence offer beach, gym and pool access to its residents and provides well appointed homes including studios, one, two and three bedroom apartments as well as stunning penthouses with breathtaking views. Over 81% of the apartments at The Royal Breeze Residence have been sold and customers have started taking possession of their homes.

Benoy Kurien, General Manager of Al Hamra Real Estate, said, “From the outset we have strived towards delivering a quality product and creating a premier lifestyle community. Royal Breeze is the latest addition to Al Hamra Village. It is an ideal destination for families as well as investors looking for a unique community experience in the Northern Emirates. We have completed everything we set out to deliver and created a premium community at Al Hamra Village owing to its location and amenities. With an occupancy of 84% at Al Hamra Village we are now focused on the completion of Al Hamra Palace which will be home to the first Waldorf Astoria Hotel in the UAE.”

In addition to being part of this exclusive community, the Royal Breeze residents and tenants have access to four swimming pools; three children play areas, four gymnasiums, underground parking and beach access. Completing the lifestyle experience are amenities comprising of the Al Hamra Golf Club, Al Hamra Marina and Yacht Club, The Palace Residence, The Palace Hotel and Resort, Banyan Tree Beach Resort, Al Hamra Fort Hotel & Resort, Al Hamra Mall, Restaurants and bars.

[Dubai, 31 January, 2012]-  Drake & Scull Abu Dhabi, a wholly owned subsidiary of Drake & Scull International (DSI) PJSC – a regional market leader in integrated design, engineering and the construction disciplines of Civil Contracting, Mechanical, Electrical and Plumbing (MEP), and Water & Power – has announced that it has signed a Letter of Agreement to perform MEP works for an iconic government facility in Abu Dhabi.

The project is DSI’s first MEP agreement in Abu Dhabi for 2012 and represents a strong start for the company within one of the region’s most promising construction markets.

Commenting on the project award, Khaldoun Tabari, CEO, DSI said, “This marks an excellent beginning for our activities in Abu Dhabi this year, we have built up a solid reputation for excellence and prompt delivery in Abu Dhabi which we are eager to reaffirm.”

“Abu Dhabi is definitely making its own mark within the region’s construction industry as it overhauls its urban landscape. This agreement puts us at the heart of the emirate’s development agenda in 2012”.

 Ahmad Al Naser Regional Operations Director of DSI added, “The MEP works will commence immediately on the project and we expect to hand over the facility in March 2013. Abu Dhabi remains a strategic market for DSI where it first operated in the region, evolved and accumulated a great level of expertise through the execution of a prestigious profile of iconic projects across the residential, commercial, healthcare, and hospitality industries over the past 45 years. ”

Danube Building Materials, a leader in construction, building materials and shop fitting industries, recently welcomed the visit of Mr. Sam Hamad, Honourable Minister of Economic Development, Innovation and Export Trade, Government of Quebec, Canada to the company’s state-of-the-art warehousing facilities inside the Jebel Ali Free Zone Area (JAFZA). During his visit, Mr. Hamad who was accompanied by a 10 member trade delegation was given a brief on the facilities of Danube Building Materials.

“We are very pleased to have hosted the visit of Honourable Minister who expressed interest in seeing our operations here in JAFZA,” said Rizwan Sajan, Founder and Chairman, Danube. “The visit also represents the strong trade ties we have with Quebec and Canada. His presence served as a strategic opportunity for him and his team to learn more about Danube and the extent of our operations here in the Middle East, Dubai in particular. We are currently embarking on a move to expand our presence beyond the region and the success of our branches in the region has inspired us to look towards other growth areas in different parts of the globe.”

RAK Properties expresses satisfaction over GLIS’s success in beautifying the flagship project

Ras Al Khaimah, UAE, 23rd January, 2012: Gulf Landscape and Irrigation Systems (GLIS), a leading landscaping company owned by Al Khayyat Investments, has announced the completion of the AED 33 Million contract for the landscaping of Precinct 5 at the prestigious Mina Al Arab waterfront project in Ras Al Khaimah.

Mohamed Sultan Al Qadi, Managing Director and Chief Executive Officer of RAK Properties, said: “We are pleased with the smooth and timely delivery of the landscaping of Precinct 5 of Mina Al Arab. The project aimed at beautifying the Mina Al Arab flagship project in Ras Al Khaimah. GLIS was in charge of the designs, construction, completion, maintenance of roads and landscape works in the project.”

The work carried out by GLIS included road works, street lighting, hard landscaping, soft landscaping, irrigation systems, landscape lighting, street furniture, water features, swimming pools and  play area equipment.

Walid Al Wahsh, General Manager, GLIS said: “We are delighted to complete the landscaping at Mina Al Arab along highest standards and as per the requirements of RAK Properties. GLIS and RAK Properties were a distinctive team to deliver this project. We are excited to add this to our illustrious portfolio of magnificent projects we have delivered in the UAE. We are proud that we have contributed to the execution of RAK Properties’ mission of providing world class residential and commercial units to their customers.”

Mina Al Arab is home to an exciting array of themed resorts, all tailored to offer a varied vacation experience. The property gives a panoramic view of picturesque beaches, mountains and beautiful landscape. This project provides world class environment suited for maintaining a healthy lifestyle through amenities like a jogging track, private beach planted with coconut trees, swimming pool, tennis court, children’s play area and ample open spaces to experience nature’s freshness.

Mina Al Arab covers an area of 43 million sq. ft. The community includes small water parks, fitness centers, a marina, adventurous Arabian style theme parks and a traditional souq. It also has numerous residential villas and other residential units designed on a wide range of architectural styles, complemented by world class amenities and facilities.

The precinct 5 is one of the major components of the Mina Al Arab waterfront master community built on the theme of nature, which gave GLIS an ideal opportunity to be highly innovative as far as nature related elements are concerned.

GLIS has world class products, such as garden and landscaping tools, irrigation systems, garden furniture, landscape features, pools and fountains, swimming pools, paving, stones and decking, garden lighting, barbecues, pots and ornaments, grass and plants.

GLIS has executed many landmark projects in U.A.E for prestigious clients such as EMAAR Properties (Burj Khalifa Development), Dubai Festival City (Dubai Festival Center) and Union Properties (Motor City) as well as Dubai Properties, Abu Dhabi Municipality, Abu Dhabi Authority for Culture & Heritage (ADACH) and A Dar (Marina YAS Hotel, Formula One Hotel).

Leading UAE property management company Asteco has teamed up with IP Global, a full-service international property investment firm, in order to offer its clients sound investment opportunities in overseas real estate markets.

“Property remains an asset class of choice for most investors. The focus on secure acquisitions in well regulated markets which are income generating and projected to see capital appreciation, remain a priority,” said Elaine Jones, CEO at Asteco.

IP Global’s unique selling proposition is that it takes an active participation in each venture that it brings to the market. Having a vested interest naturally strengthens investor confidence and provides property solutions that meet the requirements of their clients in the most transparent way.

“Considering the challenging global investment climate, we are witnessing an increased risk-averse attitude from our clients. IP Global’s proven track record researching, identifying, participating and securing solid property investments in mature markets with sustainable returns makes it an ideal partner,” added Jones.

Founded in Hong Kong in 2005, IP Global invests and manages properties in developed economies including the United States and United Kingdom, and in emerging and frontier markets such as Brazil, Malaysia and Vietnam. It currently has over 3,000 clients with average investment opportunities around $750,000.

“Asteco has a broad and well-established client base. This partnership provides an opportunity to access international markets, with solid market research, consultancy, mortgage brokerage, legal, as well as lettings and management if necessary. We can even help investors to develop exit strategies if they wish,” said Tim Murphy, CEO, IP Global.

To give potential investors a taste, IP Global’s property portfolio includes The Richmond, a 94-luxury apartment building in Kuala Lumpar, Malaysia, The Drapery, an art deco inspired building in Islington, London, and 77 Hudson, a luxury apartment building located just minutes from New York City’s Financial District.

Danube Building Materials, a leader in construction, building materials and shop fitting industries, has revealed that its strategic move to expand and reinforce market position has led to an impressive 25 per cent growth in 2011. The increase brings the company one step closer towards achieving a revenue target of USD 1 billion by the year 2015. For the second consecutive year, Danube continues to post stellar performance growth amidst the impact made by the recent economic downturn, keying in AED 1.55 billion in revenue for 2011 as opposed to the AED 1.25 billion marker posted in 2010.

Last year, the company embarked on a successful AED 200 million expansion initiative, which has resulted in the opening of four new branches in the UAE, two in India and Oman, one in both Saudi Arabia and Bahrain. 2011 was also marked with the inauguration of the company’s first showroom in Qatar and Salalah, Oman. Danube also opened a new Melamine factory in Saudi Arabia and a new warehousing facility in the Jebel Ali Freezone (JAFZA). Aiming to maintain continued growth in 2012, the company has announced the planned opening of ten more retail showrooms within the GCC.

“2011 was truly a landmark year for Danube as the move to expand has not only consolidated our regional leadership in the building materials segment but has also driven in a 25 per cent growth increase,” said Rizwan Sajan, Founder and Chairman, Danube. “We are very confident that 2012 will bring in more growth for us as we continue to live up to our commitment to create a stronger market presence through the opening of more showrooms and the addition of more products and services to our broad portfolio. With the continuing influx of construction projects across the whole region, we remain steadfast in our promise to provide our customers with world class building materials and home interior products.”

The company has also been recognized for its exemplary performance and key initiatives rendered towards regional development. Danube BUILDMART, the retail arm of Danube Building Materials, was named ‘Most Admired Retailer-Home & Office Improvement’ during the ‘Images Retail ME Awards 2011’ held at the Meydan Hotel last October. BUILDMART was recognized for its creditworthy performance last year and its move to introduce strategic innovations and initiatives that helped position the company as a leading retail institution for the Middle East. Also, company Founder and Chairman, Rizwan Sajan, was Awarded ‘Most Admired Retail Professional of the Year’ (Images Retail ME Awards 2011), And also recognized as one of the top 25 ‘Young Asian Achievers’ in the UAE in a gala ceremony that was held recently at the Jumeirah Beach Hotel. Sajan was lauded for his dynamic leadership as Chairman of the Middle East region’s premier building materials and home interiors products provider and for the important contributions he has made towards the UAE’s continued growth and development.

Residential rental rates in Qatar were broadly stable across all locations in the fourth quarter of last year while the number of transactions and enquiries increased as demand picked up, leading property consultancy Asteco said in its latest report.

With the exception of some marginal rises, rents are likely to remain unchanged in 2012 but demand is expected to continue rising. While supply is set to outstrip demand, the supply/demand gap will decrease towards the end of the year.

“The performance of Qatar’s property sector is likely to be similar to 2011, with sales prices and rental rates remaining relatively flat,” said Jed Wolfe, Managing Director, Asteco Qatar.

“Bearing in mind 2011 was the third consecutive year of the global downturn experienced by the GCC markets, the Qatar real estate market performed relatively well, with pricing generally stabilising across all sectors,” added Wolfe.

Rental rates for a two-bedroom apartment in Al Sadd and the Pearl-Qatar were on average QAR6,250 and QAR13,000 per month respectively in the fourth quarter.

There was a small decline in rents in the prime area of West Bay, but this was due largely to a small number of transactions rather than a market trend, while rents for compound villas rose slightly, with high quality luxury villas best performers.

Rents for good quality villas ranged between QAR23,000 and QAR40,000 per month.

Demand for prime villas that are maintained to high international standards marginally outstripped supply and this looks set to continue. Demand in Qatar is generally expected to be focused on prime locations such as West Bay and may minimize the effect of increased supply.

There was a distinct increase in apartment sales transactions in the Pearl-Qatar over the last three months indicating that investor confidence is returning. Transactions largely occurred in the secondary market by investors looking for distressed sales.

“With prices having stabilised for the fourth consecutive quarter, there is now strong evidence to suggest that prices have finally bottomed out and will not decline further,” said Wolfe.

Enquiry levels from both Qataris and expatriates for freehold apartments were distinctively higher than during the third quarter of last year which may result in a more positive sales market in 2012.

Overall performance of the property market may improve this year depending on whether contracts for rail network, stadia and associated construction projects are awarded.

Nakheel’s troubled offshore development The World will see its first island open to the public this week with the launch of the luxury World Island Beach Club, Arabian Business can reveal.

“We will be opening in the first week of January,” said Reza Sinnen, operations manager at the beach club, based on the island of Lebanon. The resort was originally scheduled to open in the fourth quarter of 2011 but pushed back its launch following construction delays.

The exclusive resort, which could cost members up to AED40,000 ($10,890) a year to join, hopes to capitalise on the Dubai development’s potential as a tourism destination.

Facilities will include a 100-seat restaurant, cabanas, a lounge area and entertainment facilities, alongside a pontoon that can accommodate up to 80ft yachts.

“We want to run weekend events with promoters, not en masse but for people who have yachts… People around 35 to 40. Like a private club where you are known by name. I also think event and functions and launches will be a major attraction to the island,” Sinnen said in an interview in June. 

The luxury resort, owned by Indian entrepreneur Wakil Admed Azmi, will be the first attraction on The World to open to the public after Dubai’s property crash dealt a blow to the development.

Construction on the offshore project ground to a virtual standstill in the wake of the global downturn, which saw real estate prices in Dubai fall more than 60 percent from their peak.

Almost all buyers on the project have failed to begin work, with the exception of work carried out by Kleindienst Group, the developer behind the six-island Heart of Europe Project.

Lebanon was paid for in full in 2008 by Azmi who saw the plunge in construction costs that accompanied the downturn as an opportunity to press ahead with building, said Sinnen. The cost of the island and the construction work has hit AED60m, he said.

Nakheel plans to offer tourists day and dinner cruises around The World as it moves to reposition the project as a tourism destination, in a bid to offset tumbling revenues from its real estate sales.

The developer said in November it also planned to create 500 artificial reefs around Dubai in an effort to regenerate marine life around the emirate’s coastline, and aid the local fishing industry.

The reefs will be positioned around Nakheel’s existing manmade islands, Ali Lootah, chairman of Nakheel, told reporters.

“It will help the local economy from having a good tourist industry in Dubai and environmentally I think we did our best to protect the environment,” he said.

Richard Paul, head of residential valuations at Dubai property consultancy Cluttons, said in November that Nakheel’s efforts to source new revenue through tourism reflected a practical approach to Dubai’s struggling real estate market.

“They are categorically a property developer - that is the heart of its business - but with supply at levels that are not feasible for it to continue to developing new projects, and with developments being handed over owners associations they will be losing income on that side,” he said.

“So it does make sense for them for the next few years to concentrate on new revenue streams.”