Tag Archives: horse-racing

DH, Emaar to develop The Lagoons

DH, Emaar to develop The Lagoons Staff Report / 8 October 2013 Dubai Holding (DH) and Emaar Properties on Monday signed a joint venture agreement to develop The Lagoons, a magnificent waterfront city that will define the ambitious new face of Dubai’s future, within Mohammed Bin Rashid City (MBR City). “The six million square metres development will feature a business district, residential units and hotels,” the companies said in a statement on Monday. The project stretches from the banks of the Dubai Creek, through central parcels of land linked to Al Khail Road and across Ras Al Khor. It serves as a modern architectural continuum from Dubai Creek to the modern business and lifestyle centres of the city today. Inspired and built by the banks of the Dubai Creek, this prestigious project will bridge modernity with tradition by upholding the core values that have shaped Dubai as a cosmopolitan hub that is home to over 200 nationalities. At the heart of the project is The Dubai Twin Towers, a mixed-use iconic development that defines a new skyline for the city, and is envisaged to join the rank of the world’s most prestigious skyscrapers. In a joint statement, Mohamed Alabbar, Chairman of Emaar Properties, and Ahmad bin Byat, Chief Executive Officer of Dubai Holding, said: “His Highness Shaikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, constantly reminds us that Dubai has achieved less than 10 per cent of its development potential. Dubai has always been a forward-looking city, and today, as we enter our next phase of growth led by our youth, it is important that National Champion companies such as Dubai Holding and Emaar work jointly to launch projects that are important to boost the city’s future development. “As the city further underlines its credentials as a global hub by welcoming professionals and entrepreneurs from around the world, and led by the Dubai Tourism Vision to record 20 million visitors by the turn of the decade, it is important to continue to build our world-class infrastructure to meet future needs. The project, which will be a new catalyst for growth and create robust opportunities for commerce and entrepreneurship, will set new benchmarks in urban development, with its focus on the tech-savvy and connected youth population who are taking centrestage in driving Dubai’s impressive growth. “We are thus creating a vibrant destination that will not only address their lifestyle requirements of modern retail, entertainment and hospitality, but also connect them to their Arab heritage. This prestigious development fulfills His Highness Sheikh Mohammed’s vision by creating a world-class infrastructure that will firmly establish Dubai as one of the Top 10 global cities by 2020. Truly world-class in design, it will be an inspiring work, play and live environment with several iconic developments, further driving the city’s growth.” The distinguishing feature of the development is its focus on creating distinctive neighbourhoods, which are pedestrian friendly. It will be supported by several sustainable transport modes including a direct link with Dubai Metro’s Red and Green Lines, an eco-tram system, light monorail, and water taxis. The sweeping waterfront of the project lined by retail, commercial and residential zones will be built around two central parks. The ‘green’ theme will further resonate in several environmental-friendly features including eco-resorts, water features, and gardens. A number of small marinas will also be developed across the waterfront. — business@khaleejtimes.com Continue reading

Posted on by tsiadmin | Posted in Dubai, Education, Entertainment, Investment, investments, Music, News, Sports, Taylor Scott International, TSI, Uk | Tagged , , , , , , , | Comments Off on DH, Emaar to develop The Lagoons

The Dubai Dilemma

The Dubai Dilemma Marie Nammour (mary@khaleejtimes.com) / 8 October 2013 Dubai, a cosmopolitan city where people from around 180 to 200 different nationalities converge, reflects an interesting image of a modern city that lives up to the expectation of any western tourist. At the same time the country has succeeded in keeping its conservative and traditional beliefs very much alive and takes pride in them. However, in the past few years Dubai has been the scene of several criminal cases related to sex and alcohol abuse, involving European, American and other foreign expatriates who have found themselves caught in the web of legal trouble. This is mainly due to the lack of knowledge about the laws and the fine line between a luxurious lifestyle and the violation of laws due to abuse of personal liberties. And, these foreigners would most probably continue to face the same trouble unless certain misconceptions are corrected. Counsel Hani Hammouda believes the culture of every society takes decades and even centuries to become firmly rooted. It is like a huge tree that needs space of its own to grow and flourish so that it can provide a shadow that covers everyone who lives in it. For Hammouda, who works for Kefah Al Zaabi Firm for Advocacy and Legal Consultancy, the solution would start by distributing leaflets at airports and by airline companies to newcomers to Dubai, introducing them to the basic facts and principles about life and code of conduct in Dubai. That would help tourists and visitors seeking jobs keep out of legal trouble. “Embassies and consulates can play a key role in guiding their community here and foreigners could make use of the advisory information and abide by them fully realising that the laws could be different from their own country. For example, the use of drugs is strictly prohibited in the UAE while it could be allowed in some European countries. The installation of information boards in malls and public places could also prove beneficial. Holding seminars and lectures are also necessary to raise the foreigners’ awareness about the traditions and norms. “While it is said that ‘when in Rome do as the Romans do’, learning about the host country’s laws and rules upon arrival is a basic need as the ignorance about laws is no excuse to spare law violators the legal accountability,” Hammouda stressed. Misconceptions about cultures This intriguing mosaic of the 180 to 200 nationalities certainly needs a clear set of rules which should be made available to foreigners. The culture of any society takes hundreds of years to be rooted and instilled in generations. However, even if this culture as a whole cannot reach all outsiders, at least the basic minimum components of that culture should be respected, stressed Hammouda. “A simple example of this is that some European countries banned the veil and subjected every woman, who was spotted wearing a veil in public, to fines simply because it did not go well with the cultures of those countries. However, here we still see expats walking along the streets in shorts and in other outfits which could quite hurt the feelings of the conservative local Arab and Muslim families,” said Hammouda. Scantily dressed women and men are often seen walking in malls he said and wondered why every mall does not have information boards with the dress code placed at the entrance itself. “The mall’s owner must be strolling around very often so why doesn’t he pay attention to the excesses of taste and value? At the end of the day, a certain culture would shape up from this combination of cultures. How would we expect it to be? “There is no room here for a reverse thinking that the society here is open to all cultures and that it would be wrong to interfere in other’s liberties. Even in European and American states, one would be punished for an indecent and obscene public act.” According to Adel Awad Jr, a lawyer with over 18 years of experience in law and practising in New York, the image about Dubai abroad is deceiving. “The media projects Dubai as a modern city, which is a fact. But according to that image, there is an unlimited exercise of freedom with no restrictions. So to begin with, westerners head to Dubai with a different picture,” he pointed out. Referring to Dalelv’s case (Norwegian Marte Deborah Dalelv, who was accused of illicit consensual sex after reporting rape), Awad Jr. said: “It is her fault. Even in Europe, a woman should be careful not to stay in the same room with a stranger at night. The alcohol was also a circumstantial element. She lost her sobriety and will.” Proving that a woman was raped is complicated. “Injury marks resulting from struggle with the rapist should be there. If there are no such marks then she would be thought of as a consenting party. If it is proven that she was drunk at the incident time then she will be thought of as an unwilling party and that the sex was forced upon her.” Awad Jr suggested that an introductory code of conduct be enclosed to the employment contract when sent to an expatriate. That way, he (she) would be advised on what would await him in the country he would become a resident of. “Tourists could as well make use of the same information so it would be recommendable that airline and travel agencies enclose it to the travel package they offer to their customers. This code of conduct will give a list of the Dos and the Don’ts in the host country. This code of conduct will help reduce the crimes as it will clear everything out all along.” In July this year, Norwegian Marte Deborah Dalelv who was jailed for having illicit sex and giving false reports to the authorities about being raped, was granted pardon. The 42-year-old Dalelv, who works as an interior design executive, was at first sentenced by the Court of Misdemeanours to 16 months in jail, followed by deportation, for falsely reporting a rape, having sex-out-of-wedlock and consuming alcohol. She claimed to the police and prosecutors that her Sudanese boss raped her in his hotel room in Bur Dubai in March, taking advantage of the fact that she was under the influence of alcohol. The man was sentenced to 13 months in jail and deportation. She was on a business trip with him when the incident happened. Marte’s case created media frenzy in the west after she told her story to the press recounting her ordeal and shock over being held in custody for reporting a rape. She claimed that during the interrogation, she changed her testimony and falsely confessed she had consensual sex in a desperate bid to get a reduced sentence. In February, the Court of Appeals reduced the jail terms of an expatriate couple (an Irish man and a British woman, who had sex mary@khaleejtimes.com Continue reading

Posted on by tsiadmin | Posted in Dubai, Education, Entertainment, Investment, investments, Music, News, Sports, Taylor Scott International, TSI, Uk | Tagged , , , , , , , , , , | Comments Off on The Dubai Dilemma

Why the rich are eyeing Dubai real estate

Why the rich are eyeing Dubai real estate Issac John (issacjohn@khaleejtimes.com) / 8 October 2013 Dubai has replaced Singapore to claim the second rank behind London as the most sought-after global real estate investment destination for the world’s high networth individuals (HNWI), a survey revealed. The security and lifestyle that Dubai offers top the list of attractions for investors, while capital value growth and the emirate’s perceived safe haven status top the list of factors influencing the HNWI investments into Dubai, Cluttons, the global real estate company, observed. The observation was based on the findings of Cluttons International Private Capital Survey of nine of its global offices, which represent the 461 HNWIs. Last year’s results suggested that global HNWI would seek out investment locations closer to home markets as the world economy began its journey back towards a meaningful recovery. Cluttons has seen this come through in the results of this year’s survey, with Dubai in particular rising sharply in the minds of the region’s HNWI. According to the survey, those from the Middle East now prefer Dubai to London, with Cluttons’ offices in Manama and Muscat reporting capital value growth, the emirate’s perceived status as a safe haven and relatively high yielding residential property as the top three pull factors influencing the HNWI. Among Dubai’s top three factors drawing the attention of the HNWI, the lifestyle on offer in Dubai through the ownership of a second home and the security offered through real estate investments in the Gulf city rank behind the emirate’s lure as a place to expand investment portfolios. The study considers the drivers of these investors’ intentions as an indicator of future trends in international capital allocation, both geographically and at a sector level. “It was unsurprising to see Dubai re-emerge as the region’s top investment pick given the current economic resurgence; however we expect the IMF estimate to be bettered, particularly as Dubai’s real estate sector continues to recover, adding further momentum to overall growth,” said Steven Morgan, Head of Cluttons Middle East. Dubai, capitalising on its pillars of strength of trade, tourism and financial services, is once more drawing in the region’s wealth, which is honing in on Dubai’s bricks and mortar, said Cluttons. “The resulting impact on the residential market has been a 30.6 per cent surge in average capital values, aided also in part by cheaper debt financing and those looking to avoid escalating rents.” The survey identified an upturn in cross border investment amongst HNWI, consistent with broader trends in international capital flows. According to the United Nations Conference on Trade and Development (UNCTAD) forecast foreign direct investment (FDI) levels in 2013 would be in the region of $1.45 trillion, which, if achieved, would be comparable to the average level of global FDI flows achieved between 2005 and 2007. “There is a global reach for the planned investments, with London, Dubai and Singapore noted as the top three ranked HNWI targets in our offices. London received the most consistent mention in terms of investment plans; however there was a notable increase in the level of interest in Dubai compared to that reported last year. As a result of this, Singapore was edged into third place, although there have been no fundamental changes to the city-state’s overall HNWI appeal,” Cluttons said. The report said an improved global economic outlook is translating into a greater level of investment activity by HNWI closer to their home markets. “This is illustrated by the rise of Dubai among favoured investment destinations, particularly by HNWI investors from Manama and Muscat, following a widespread exodus as a result of the property market correction in 2009.”  Cluttons expects to see this trend gain further traction over the course of the next 12 months across the Middle East and Asia Pacific, as HNWI investors pay greater attention to local investment destinations, in line with improved economic prospects in the emerging markets in particular. This is aided by the rising appetite for risk in investment decision-making, expected to continue over the next year, it said.   Continue reading

Posted on by tsiadmin | Posted in Dubai, Education, Entertainment, Investment, investments, London, Music, News, Property, Real Estate, Sports, Taylor Scott International, TSI, Uk | Tagged , , , , , , , | Comments Off on Why the rich are eyeing Dubai real estate