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Transcript of Week 09 · PDF file ABU DHABI | AL AIN | DUBAI | SHARJAH | JORDAN | KSA © Asteco Property...

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    Week 09 SUNDAY, 01 MARCH 2020

  • ABU DHABI | AL AIN | DUBAI | SHARJAH | JORDAN | KSA

    © Asteco Property Management | 2020 | asteco.com

    35 YEARS | CELEBRATING THE PAST AND

    TRANSFORMING THE FUTURE | Page 1

    ASSET MANAGEMENT SALES LEASING

    VALUATION & ADVISORY BUILDING CONSULTANCY OWNER ASSOCIATION

    REAL ESTATE NEWS

    UAE / GCC / MENA

    COMMERCIAL REALTY SECTOR SEEN AS HUGE CONTRIBUTOR TO UAE'S ECONOMIC

    GROWTH

    UAE DEVELOPER SAYS NEW TOURIST VISA TO CREATE OPPORTUNITIES

    DAMAC PROPERTIES GM REVEALS PLANS FOR SAUDI EXPANSION

    MAJID AL FUTTAIM POSTS SLIGHT INCREASE IN ANNUAL EARNINGS, SEES IMPROVED

    2020

    UAE'S AZIZI HIRES SENIOR EXEC TO LEAD INTERNATIONAL EXPANSION

    MODON PROPERTIES AWARDS DH2.37BN OF RIYADH CITY SOUTH CONTRACTS

    WHY RIYADH IS SEEING A RISE IN THE NUMBER OF BUSINESS PARKS

    SAUDI ARABIA REVEALS PLAN TO EXPAND NETWORK OF NEW ENTERTAINMENT HUBS

    OMAN'S TRADED REAL ESTATE ACTIVITY RISES 4.9% YOY TO $7.2BN IN 2019

    UAE LUXURY HOMES CAN DO WITH A DESIGN RESET

    SAUDI ARABIA'S DAR AL-ARKAN ISSUES $400M SUKUK ON NASDAQ DUBAI

    ROOM FOR GROWTH IN THE GCC: OPPORTUNITIES AND CHALLENGES IN THE HOTEL

    SECTOR

    OMAN REVEALS PLAN TO BUILD MUSCAT AIRPORT CITY IN MAJOR AVIATION PUSH

    DUBAI

    HOW DUBAI PROPERTY RENTAL RATES HAVE CHANGED OVER THE PAST DECADE

    SAMANA DEVELOPERS LAUNCHES DH100 MILLION RESORT-THEME PROJECT

    DUBAI'S DRAKE & SCULL MAKING SIGNIFICANT PROGRESS IN RESTRUCTURING PLAN,

    SAYS CHAIRMAN

    CHINESE INVESTMENT IN UAE REALTY ON BACK BURNER

    HOMEFRONT: 'SHOULD DUBAI OWNERS STILL PAY SERVICE CHARGES DIRECTLY TO

    DEVELOPERS?'

    AZIZI COMPLETES WORK ON 284-UNIT FARISHTA IN DUBAI'S AL FURJAN

    DUBAI'S SUNSET HOSPITALITY BUYS STAKE IN US BURGER CHAIN

  • ABU DHABI | AL AIN | DUBAI | SHARJAH | JORDAN | KSA

    © Asteco Property Management | 2020 | asteco.com

    35 YEARS | CELEBRATING THE PAST AND

    TRANSFORMING THE FUTURE | Page 2

    ASSET MANAGEMENT SALES LEASING

    VALUATION & ADVISORY BUILDING CONSULTANCY OWNER ASSOCIATION

    WHY INDIANS, PAKISTANIS ARE RACING TO PICK UP STALLED DUBAI PROJECTS

    FINLAND LOOKING TO BOOST UAE TRADE WITH EXPO 2020 DUBAI

    DUBAI'S 3D PRINTED OFFICE BAGS GUINNESS WORLD RECORD

    NORTHERN EMIRATES

    ARADA UNVEILS MADAR AT ALJADA, SHARJAH'S NEWEST FAMILY ENTERTAINMENT

    DESTINATION

    WHAT TO EXPECT TO SEE AT SHARJAH'S NEW ENTERTAINMENT HUB

    RAS AL KHAIMAH SEES NEAR-4% RISE IN TOURISTS TO 1.12 MILLION

    SHARJAH CHAMBER LAUNCHES PROJECT FOR DEVELOPING INFRASTRUCTURE OF 10TH

    INDUSTRIAL ZONE

    INTERNATIONAL

    MIDDLE EAST INVESTORS EYE OPPORTUNITIES OUTSIDE LONDON

    INVESTCORP MAKES $164M ADDITION TO US PROPERTY PORTFOLIO

    DUBAI HOLIDAY HOME OPERATOR INKS DEAL WITH INDONESIAN HOTEL FIRM

    MIPIM GLOBAL PROPERTY CONVENTION POSTPONED

  • ABU DHABI | AL AIN | DUBAI | SHARJAH | JORDAN | KSA

    © Asteco Property Management | 2020 | asteco.com

    35 YEARS | CELEBRATING THE PAST AND

    TRANSFORMING THE FUTURE | Page 3

    ASSET MANAGEMENT SALES LEASING

    VALUATION & ADVISORY BUILDING CONSULTANCY OWNER ASSOCIATION

    MIPIM GLOBAL PROPERTY CONVENTION

    POSTPONED Saturday, February 29, 2020

    An annual global property convention that takes place in Cannes each year has been postponed due to the

    outbreak of the coronavirus.

    The Mipim convention run by Reed Exhibitions was scheduled to run from March 10-13, but has now been

    rescheduled to June 2-5 2020, organisers said in a statement on Saturday.

    “The well-being of our clients and staff is our priority. Given the evolving context, the best course of action is to

    postpone MIPIM to June,” said Paul Zilk, chief executive of Reed MIDEM, part of Reed Exhibitions.

    Mipim attracts many of the property world's biggest investors and fund managers. About 23,000 people were

    expected to attend this year's event and former French president Nicolas Sarkozy was due to give a keynote

    address.

    On Friday, organisers had issued a statement saying the event would go ahead as planned, stating that "as of

    today, more than 90 per cent of exhibitors remain committed to attend".

    However, a number of high-profile attendees, including consultancies Knight Frank and Cushman and Wakefield,

    had taken the decision to withdraw and on Saturday the event's postponement was confirmed.

    “This is not a decision we have taken lightly," Mr Zilk said. " We believe these new dates will provide the

    international Mipim community with the opportunity to achieve their business objectives. We are grateful to our

    clients for their support and constructive input during this challenging period, and we look forward to talking with

    them in the coming days about Mipim in June,” he added.

    Source: The National

    Back to Index

  • ABU DHABI | AL AIN | DUBAI | SHARJAH | JORDAN | KSA

    © Asteco Property Management | 2020 | asteco.com

    35 YEARS | CELEBRATING THE PAST AND

    TRANSFORMING THE FUTURE | Page 4

    ASSET MANAGEMENT SALES LEASING

    VALUATION & ADVISORY BUILDING CONSULTANCY OWNER ASSOCIATION

    SHARJAH CHAMBER LAUNCHES PROJECT

    FOR DEVELOPING INFRASTRUCTURE OF

    10TH INDUSTRIAL ZONE Saturday, February 29, 2020

    The Sharjah Chamber of Commerce and Industry (SCCI), in collaboration with the Department of Town Planning

    and Survey, Sharjah Roads and Transport Authority (SRTA) and Sharjah Water and Electricity Authority (Sewa), has

    announced the launch of the infrastructure development project for the 10th industrial zone in Sharjah.

    The new project is one of the pioneering initiatives with the aim of reconstructing the whole area, providing the

    best services for the people, and keeping pace with Sharjah's universal renaissance.

    This would help promote the emirate's competitiveness, develop its economic environment and its investment

    attractiveness, and enhance its sustainable development.

    Under the guidance of His Highness Sheikh Dr Sultan bin Muhammad Al Qasimi, Member of the UAE Supreme

    Council and Ruler of Sharjah, the facilities located on the project site will get a 50 per cent reduction of service

    fees throughout the project implementation.

    This was stated during the inauguration ceremony of the project which was held at the SCCI headquarters

    recently. Abdullah Sultan Al Owais, SCCI chairman; Eng Salah bin Butti Al Muhairi, adviser to the Department of

    Town Planning and Survey and deputy chairman of the Sharjah Urban Planning Council; Dr Eng Rashid Al Leem,

    chairman of Sewa; Eng Yousef Saleh Al Suwaiji, chairman of the SRTA; Waleed AbdelRahman BuKhatir, second

    vice-chairman of the SCCI; a number of board of directors; the SCCI's director-general Mohammad Ahmed Amin

    Al Awadi; and media representatives, attended the inaugural ceremony.

    The project, according to the implementation contracts, covers an area of 2.16 million square metres, and it will

    be carried out over 18 months by Sharjah Contracting and Khatib and Alami.

    The contract also includes the establishment of a modern and advanced road network, the implementation of a

    rainwater and lighting network and the rehabilitation of sidewalks and parking lots as per the highest safety and

    security standards and best international practices.

    Source: Khaleej Times

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  • ABU DHABI | AL AIN | DUBAI | SHARJAH | JORDAN | KSA

    © Asteco Property Management | 2020 | asteco.com

    35 YEARS | CELEBRATING THE PAST AND

    TRANSFORMING THE FUTURE | Page 5

    ASSET MANAGEMENT SALES LEASING

    VALUATION & ADVISORY BUILDING CONSULTANCY OWNER ASSOCIATION

    RAS AL KHAIMAH SEES NEAR-4% RISE IN

    TOURISTS TO 1.12 MILLION Thursday, February 27, 2020

    Ras Al Khaimah Tourism Development Authority (RAKTDA) on Thursday announced that tourist arrivals to the

    emirate were up almost 4 percent to 1.12 million in 2019.

    The authority also said hotels in Ras Al Khaimah reported revenue per available room (RevPAR) of $114.90, among

    the highest in the region.

    This was reflected by the strong yearly occupancy rates, averaging at 74 percent, added RAKTDA.

    Last year’s inbound growth was driven by a number of events such as the launch of the Jais Sky Tour, and the

    hosting of the Ras Al Khaimah Fine Arts Festival, Ras Al Khaimah Half Marathon, Tough Mudder and the UAE Tour.

    In addition, corporate activity and MICE participation further contributed to the growth in visitor numbers, a

    statement said.

    Russia, India, Poland and Kazakhstan all saw double digit increases as tourist source markets compared to 2018

    figures.

    Raki Phillips, CEO of RAKTDA, said: “2019 was a positive year for Ras Al Khaimah, as we saw increased footfall from

    key markets resulting in the overall arrival growth of almost 4 percent.

    “Ras Al Khaimah is in the midst of its three-year destination strategy which aims to broaden its reach through

    increased segmentation.