Tag Archives: exclusive-dubai
World-class gold refinery to be built in Dubai
Dubai's status as an international investment hub will be enhanced when a world-class gold refinery is built in the city in the next year.Leaders of Kaloti Group – one of the largest and most respected precious metal traders on the planet – have announced that the facility will be erected in the Jumeirah Lakes Towers Free Zone.The project is due to be finished in 2014 and it will be one of the largest refineries in the world.There is huge demand for Kaloti's products at the moment and the new refinery will enable the firm to triple its output.Munir Kaloti, chairman of Kaloti Group, confirmed that the complex will be specially built with energy efficiency and sustainability in mind and the company is committed to raising awareness of responsible mining issues.It will also be the first refinery to implement Green Building Standards, which have been brought in by the Dubai Municipality.”This represents a major investment in expanding and upgrading our refining facilities. This will be a state of the art refinery to rival the best in the world,” he remarked.”It will strengthen our ability to meet the growing international demand for our products as well as give us capacity for growth in the years ahead.”Dubai is renowned for being a playground for the rich and famous and it is home to some of the most exclusive jewellery boutiques on earth.With this in mind, it really is no surprise to see precious metal traders increasing their presence in this part of the Gulf.The emirate has also emerged as a diamond trading hotspot in the past few years, as stones worth US$39 billion (AED 143.25 billion) changed hands in the city in 2011, the National recently reported.Ahmed bin Sulayem, the executive chairman of the Dubai Multi Commodities Centre, told the news provider that the emirate has struck up partnerships with major diamond trading centres, including Antwerp, Mumbai and New York. Continue reading
Justin Bieber’s Dubai show ‘a sell-out’
Tickets for a highly anticipated Justin Bieber concert in Dubai have sold out, event organisers have confirmed.The Canadian superstar is one of the hottest properties in the global music business and he has legions of fans all over the world, including the Middle East.Bosses of Done Events announced that all 25,000 tickets have been snapped up, with “Fan Pit” access (closest to the stage) selling out in record time.The 19-year-old pop sensation will appear at The Sevens Stadium on May 4th in what is expected to be one of the gigs of the year in the UAE.Chief operating officer at Done Events Thomas Ovesen said he fully expected the tickets to sell very quickly.”The fans have spoken – this is the biggest concert yet to be staged in Dubai and one that has now completely sold out – 25,000 lucky fans holding the treasured concert tickets will get to watch the first ever regional concert with superstar Justin Bieber,” he remarked.Although there will be thousands of disappointed “Beliebers” who did not manage to get a ticket for the event, Mr Ovesen advised fans to keep an eye out for a number of competition giveaways.”We urge fans still looking for tickets for the show to stay tuned to radio and local media,” he added.Bieber first burst on to the international music scene at the tender age of 15 and he has gone on to become a megastar.He first started out by filming videos of himself putting a unique twist on songs by Usher, Stevie Wonder and Ne-Yo and then uploading them to YouTube. He managed to rack up more than ten million views just through word of mouth. It was clear then that the youngster had a special gift.The fact that one of the most sought after performers in the world is putting on a show in Dubai highlights the emirate's ability to attract the very biggest names. Continue reading
Property investors feel good about Dubai
The demand for property investments in Dubai continues to grow by the day, with real estate traders flooding into the emirate from far and wide.According to leaders at Al Masah Capital, the city's residential and hospitality sectors enjoyed strong levels of growth last year, the Khaleej Times reports.A report published by the organisation showed that real estate prices are on the up and hotel occupancy rates have also climbed in the last 12 months or so.Business Monitor International (BMI) stated that the UAE's property sector is supported by a number of government-backed investments, particularly in transport infrastructure.The fact that Dubai is politically stable and welcoming of foreigners means the emirate is a global investment hub.A BMI report noted: “The UAE benefits from its strategic importance in the Gulf Co-operation Council and of the strategic importance of the region to the world. Regional unrest has benefited the emirates as they are seen as much safer than their neighbours.”Anybody who visits Dubai will notice that the cranes are moving once again above the city, as building projects that were shelved during the economic downturn have been resurrected.New villas, apartments and hotels are selling extremely well at the moment and this has forced prices even higher.Leaders at Cluttons said that property values have risen by as much as 20 per cent in one quarter in certain parts of Dubai, Zawya reports.Head of the company Steve Morgan suggested that this kind of performance would be considered to be a “boom” in other parts of the world.Landlords are benefiting from the upturn, as the firm revealed that rental rates for high-end villas increased by 9.7 per cent between the third quarter of 2012 and the first quarter of 2013.This trend is expected to last for a while, so now is the best time for people to add new assets to their Middle Eastern portfolios. People who do invest in 2013 could make sizeable profits when they come to sell in a few years' time.Click here for your free property investment guide Continue reading
