South Indian Superstar Prithviraj and his wife Supriya Menon (BBC Reporter) receives a memento from Mana Al Suwaidi at the venue of Asiavision TV Awards 2011 held at Al Nasr Leisureland on Friday 6th May 2011.
Tuesday, May 10, 2011
Asiavision TV Awards Given Away in Dubai to Prithviraj and others
South Indian Superstar Prithviraj and his wife Supriya Menon (BBC Reporter) receives a memento from Mana Al Suwaidi at the venue of Asiavision TV Awards 2011 held at Al Nasr Leisureland on Friday 6th May 2011.
DECDC receives delegation from Scott Autism Centre in the US
of the Community Development Authority in Dubai (CDA), recently welcomed a delegation
from Scott Autism Centre at Florida Institute of Technology, USA and discussed areas of
cooperation, partnership and exchange of experience in the field of disability and autism.
Dr. Bushra Al Mulla, Director of DECDC and her team of specialists received the delegation
and briefed them on the services provided by the Centre to children with disabilities and their
families. The delegation also heard about the Centre’s role in enhancing community awareness
on children with disability and ways to integrate them into the society.
During the week-long visit the US delegation learned about the state-of-the-art equipment,
facilities and advanced technologies available at DECDC in addition to global best practice
adopted at the Centre and its future plans. Both parties also discussed possible exchange of
knowledge and experience in many fields relevant to autism and disability.
The Scott Autism Centre has extensive facilities and a distinguished track record in the
treatment of children with disability, autism and in early intervention techniques. The delegation
was impressed with the services available in DECDC, particularly in the field of early
intervention and rehabilitation and said they would be happy to visit Dubai again and help in
developing and elevating the existing services at DECDC.
"We welcome our partners from Scott Autism Centre, which is a world-leading centre of its
kind, and look forward to working with them sharing knowledge and best practices in providing
support for children with disability," said Dr. Bushra.
The Dubai Early Childhood Development Centre (DECDC) is a unique early intervention
programme, to provide state-of-the-art, comprehensive, family-focused, community-based,
trans-disciplinary services to children (from birth to six years) with disability or are at risk for
developmental delays and their families. DECDC was established after a long and extensive
benchmarking exercise in disability training, including review and research of best practices in
early intervention across the world.
Emirates NBD continues expansion drive in Abu Dhabi
In line with bank’s ongoing expansion strategy in Abu Dhabi, in response to
growing demand.
Abu Dhabi, May 7, 2011: Emirates NBD, a leading bank in the region, announced
today that it has further extended retail banking facilities to its customers in the UAE
capital, with the opening of a new branch on Hazza Bin Zayed Street adjacent to Al
Wahda Mall.
“Today’s announcement is a significant step in our strategy to increase our branch
network in Abu Dhabi,” said Jamal Bin Ghalaita, Group Deputy CEO, Emirates
NBD. “With retail banking an important driving force behind growth in the banking
sector, Emirates NBD is dedicated to ongoing investment in its physical infrastructure
in every Emirate. Our aim is to grow our retail banking operations in the UAE capital
and surrounding areas, in line with growing customer demand.”
The branch will service the needs of both Personal and Priority Banking customers,
and is conveniently located on the ground floor of the Al Wahda Office Towers, next
to the popular Al Wahda Mall. It is also in close proximity to the Al Wahda Sports
Club, home to the famous Abu Dhabi football club.
“In line with recent surveys showing a notable rise in consumer confidence, we see
a growth opportunity for consumer wealth management services in Abu Dhabi,” said
Abdulelah Al Kindy, General Manager – Retail Banking, Emirates NBD. “At this new
branch, customers will find a full range in terms of banking products and services for
managing their finances. Our team of professional tellers, relationship managers and
investment specialists, are available to respond to a broad range of requirements,
from customised financing for UAE Nationals to Borrow Wisely personal loans, Auto
Loans and Sharia-compliant insurance products.”
Emirates NBD now has a total of 15 branches in Abu Dhabi, 49 ATMs and 14 CDMs.
The Al Wahda branch has one ATM and one CDM (Cash Deposit Machine), with
two more ATMs available inside the Mall itself. The branch is open from 8 am to 8
pm, Saturday to Thursday, and offers customers a full range of consumer finance
products. The opening of this branch is in addition to Emirates NBD’s numerous
specialised banking centres in Abu Dhabi, including a Business Banking, a Private
Banking, nine Priority Banking, and four Direct Sales centres.
About Emirates NBD
Emirates NBD is a leading banking Group in the region. The Group has a leading retail
banking franchise in the UAE, with over 133 branches and over 750 ATMs and SDMs. It is a
major player in the UAE corporate banking arena and has strong Islamic banking, investment
banking, private banking, asset management and brokerage operations.
The Group has operations in the UAE, the Kingdom of Saudi Arabia, Qatar, Singapore, the
United Kingdom and Jersey (Channel Islands), and representative offices in India and Iran.
The Group is an active participant and supporter of the UAE’s main development initiatives
and of the various educational, environmental, cultural, charity and community welfare
establishments.
For more information, please visit: www.emiratesnbd.com
S U S TA IN A BL E G L OB AL G R O W T H - Y O U W I SH
We prefer emerging markets over developed markets
Federal reserve moves to reduce support for the US economy
Japanese earth quake impact on growth worse than expected
Macro hedge funds struggle to make money out of the volatility
Local markets helped by money supply growth
________________________________________________________________________
Economists dream of a world of sustainable good economic growth, with low inflation. Sadly in
the 1990s just as the global economy achieved such a phenomenon, governments, consumers
and investors leveraged it and the rest is history. Ever since the financial crisis the financial
markets have managed to put the problems of the future to one side. A mountain of support
from central banks and governments has managed to overcome fears as to the impact of the
huge burden of debt saddled on Japan, the United States and Europe. However governments
can no longer provide the same support, witness the Eurozone problems and the downgrade to
US credit rating. And central banks cannot provide ever-lasting liquidity in the face of a sharp
increase in inflation. The ECB has raised rates and the US Federal Reserve last week started
its process of winding down its unprecedented support for the economy.
Last week we decided to cut our exposure to developed markets in favour of the emerging
markets. In essence we are moving back to our long held view that emerging markets will
outperform developed markets- a view we now hold on both a tactical and strategic view. We
advise clients to cut their exposure to developed markets particularly the Eurozone and Japan.
We believe the Euro and Yen to be overvalued versus the dollar and that over time investors
could suffer losses on their equity holdings from currency weakness.
Last week in the U.S., the Federal Reserve Open Markets Committee (FOMC) decided to start
to ease back on all the support it has provided the markets since the financial crisis. The Fed’s
hand has been forced by the pick-up inflation, the improved outlook for growth and the need to
withdraw financial measures that were clearly designed for emergency conditions. The fact that
much of the profit of the US financial sector has been due to the very easy monetary conditions
given to them by the Federal Reserve is an often-missed point. Next up is the US government
who urgently need to address their debt problem. One measure of the scale of the structural
problems is the size of the entitlement programs. These programs (that cover things such as
Social Security and Medicaid) have grown 11x since the 1960’s whilst GDP has grown only
3.0x. The problem is that typically in front of a Presidential election (in 2012) there is little
government action to reduce spending and increase taxes. However these are not normal
times. The pressure to cut spending is even greater due to the waning credibility of the US in
debt markets. The downgrade to negative watch by S&P of US sovereign credit rating was but
one measure of the problem. Last week, New Jersey was yet another US State to be
Private Banking - CIO Office. PBIGD020511U1899 - May 2011
PRIVATE BANKING from
CIO WEEKLY REVIEW
MAY 2, 2011
downgraded by the rating agencies. The more that parts of the machinery of US government
get shut out of the credit markets the more the pressure to reduce debt.
We are getting the first signs of the weakness of Japan post the earth quake. Industrial
production fell 15.3% month-on-month in March nearly five times the impact of the Kobe earth-
quake in January 1995. Encouragingly there is more talk and action to bring the manufacturing
sector back to health. In some sectors such as energy, there are signs that the repairs are
proceeding faster than expected. The impact on the rest of the world will still be meaningful as
Japanese exports fell 8% month-on-month in March prompting supply disruption problems to
many industries around the world. Car and electronic industries are particularly hit.
Global equities have now reversed their losses of early in April. A combination of the
persistence of low interest rates, good corporate profits and relatively low valuations has
prompted retail buying of equities. Our hesitancy to chase the markets is based on our fears
that there may be an acceleration of monetary tightening, geopolitical problems and ongoing
issues in the Eurozone. On the charts indices such as the S&P 500 have broken out to the
upside pushing through the recent peak of 1340 to close at 1363 last week. The next technical
target is 1426 the previous peak dating back to May 2008.
Hedge fund returns have been muted so far this year for the large heavyweight macro funds.
The HFR index of macro hedge funds is up just 2.2% since the start of the year. The low
returns reflect the general hesitation of the portfolio managers to commit to markets with so
many concerns. Also many of the market moves have been counter intuitive or outsize. The
remarkable fall in the dollar, the relative strength of the Euro and Swiss franc are examples of
the extraordinary market movements this year that were forecast with confidence by very few.
The absolute strength of the gold price as well as equities is also rather remarkable. Gold is
normally rallying when equities are struggling.
Local markets equities consolidated after recent gains last week. Strong money supply
numbers from Saudi Arabia (+13.8% year-on-year) and the UAE +3.3% month-on-month
Deira fish market auction area to close for maintenance
The Assets Management Department of Dubai Municipality will close the
auction area of Deira fish market for maintenance for 10 days from 9th May.
“There will be a temporary auction area behind Al Ras market previously
known as birds market,” said Khalifa Hareb, Director of Assets Management
Department.
“The maintenance and development process includes renovation, expansion
and beautification of current facilities to be in line with modernized market
systems,” he added.
The current market for fishes and vegetables was established in 1988 as a
temporary market.
Dubai Islamic Bank Launches Second Qiyadee Program
Dubai, May 9, 2011: Dubai Islamic Bank (DIB) announced today the launch of
its second Qiyadee programme to develop a core group of employees to assume
managerial positions within the organisation. The selected Emiratis, from both inside
and outside the bank, will now embark on a 36 month-long training programme to
develop the necessary knowledge and skills to become the future leaders of DIB.
DIB’s second Qiyadee programme has been developed in partnership with Zayed
University and was officially launched at a ceremony attended by Dubai Islamic Bank
CEO Mr. Abdullah A Hamli, Dr. Sulaiman Al Jassim, Vice President of Zayed University
and the bank’s senior management, including, Dr. Adnan Chilwan, Deputy CEO – Chief
of Consumer and Wholesale Banking, Mohamed Abdullah Al Nahdi, Deputy CEO –
COO, and Obaid Khalifa AL Shamsi, Chief of Human Resources.
Introduced in 2006, the Qiyadee programme consists of theoretical and practical
courses, each designed by experts in the fields of Islamic banking, finance and
management. Students are trained in a range of core business and support functions,
preparing them to take managerial positions within the field of retail banking, corporate
banking, wealth management, central operations information technology and risk
management.
Abdullah Al Hamli, CEO of DIB, said: “The Qiyadee programme is central to DIB’s long-
term strategy for acquiring and developing the bank’s future leadership. We consider
developing the talents and skills of UAE nationals to be one of our most important
priorities, and programmes such as this will provide the platform for the continued
1
growth of DIB.”
Dr. Sulaiman Al Jassim, Vice President of Zayed University, said: “Zayed University
values its relationship with Dubai Islamic Bank, one of the leading economic and
financial institutions locally and internationally. Its status as the first Islamic bank in
the world underlines its distinguished place in the banking sector. Through its training
programmes, the bank is committed to the philosophy of continuous education which is
vital in order to keep pace with the continuous technical advances in the world.”
The Qiyadee programme is a key component of DIB’s long-term strategy to meet its
ambitious Emiratisation target. The bank has already achieved 100% Emiratisation
at branch manager level and, across the organisation, Emiratisation stands at an
impressive 46%, an increase of 5% in 2010.
Etisalat signs MOU with HCL Technologies to offer collaborative ICT services to customers
To bilaterally cooperate and explore opportunities in the areas of Cloud Computing,
Dubai, UAE, May 9, 2011: Etisalat today signed a Memorandum of Understanding (MoU)
agreement with HCL Technologies, a leading global IT services provider, to bilaterally cooperate
and explore collaborative opportunities for offering innovative ICT services to customers.
The partnership agreement was signed by Mr. Abdulla Hashim, Senior Vice President,
Business Solutions at Etisalat and Mr. Virender Aggarwal, President, APAC & MEA, at HCL
As per the agreement, Etisalat and HCL Technologies will work together to explore the
possibility of collaboration for offering joint ICT solutions to business customers in the areas
of Mobility, Cloud Computing and advanced ICT services. The organizations will endeavor to
share intellectual capital and industry expertise, towards developing and offering collaborative
ICT value propositions to enable Middle East enterprises leverage new disruptive technologies
towards accelerating their business growth.
Commenting on the partnership, Mr. Abdulla Hashim, Senior Vice President, Business Solutions
at Etisalat said: “Etisalat is delighted to partner with HCL Technologies in our unswerving
commitment to offer new age ICT solutions and provide enhanced value centric services to our
customers. Through this intellectual capital driven association Etisalat endeavors to provide a
differentiated user experience to its customers while reducing complexity and cost. This unique
knowledge based partnership will create unparalleled level of expertise to implement, support
and facilitate effective use of ICT applications and technologies.”
“In addition to providing avant-garde services for our customers, this partnership will also
consolidate Etisalat’s position as the region’s most forward-looking telecommunications and ICT
service provider, as we continue to lead innovative developments in the ICT industry and seek
to shape the technology and communications market of the future,” Mr. Hashim added.
According to Virender Aggarwal, President, APAC & MEA, for HCL Technologies, “This is
a strategic partnership for HCL Technologies and we see great potential in delivering joint
solutions around mobility that can drive efficiencies within enterprises. Given the enterprise
focus on reducing costs and driving operational efficiency, we see a strong synergy between
HCL Technologies and our demonstrated expertise in cloud computing and mobility allied with
Etisalat’s world class telecom infrastructure and focus on ICT services. Given our respective
strengths, we will be introducing a range of innovative services for enterprises to cement UAE’s
position as one of the most advanced nations in terms of Telecom and ICT services in the
The collaboration between HCL Technologies and Etisalat comes at a time when IT solutions
are increasingly taking centre stage in organizational business plans to jumpstart growth,
enhance productivity and optimize efficiency in line with renewed economic growth in the UAE
. Technology trends have also evolved and today the UAE is leading the way in adoption of
mobility solutions and cloud computing. The convergence of device connectivity, software
innovation and cloud-based services is enabling a greater number of people and organizations
to gain access to information and communicate and collaborate in more powerful ways.
About Etisalat
Etisalat is a leading telecommunications corporation catering to consumers, businesses, international
telecommunication companies, ISPs, content providers and mobile operators. Headquartered in Abu Dhabi, UAE,
Etisalat is the largest operator in the Middle East and Africa regions with a market value in excess of AED 80 billion
(US$20 billion) and annual revenues of approximately AED 30 billion (US$8 billion).
Etisalat operates in 18 countries across Asia, the Middle East and Africa, a coverage area which reaches more than
two billion people, and to date has 135 million subscribers through mobile and fixed line voice and data services.In
December 2010, Etisalat UAE received the CommsMEA awards for ‘Overall Operator of the Year’ and ‘ISP of the
Year’. Etisalat Group received awards of ‘Best African Operator’ for Etisalat Misr (Egypt), while Mobily (Etihad
Etisalat) won ‘Middle East Operator of the Year’. In June 2009, Etisalat UAE was named ‘Best in Dubai’ for customer
service during ITP’s Best in Dubai awards.
Etisalat UAE is pioneering the launch of the first commercial 4G service on its nation-wide LTE network and
promises to deliver a compelling mobile broadband experience to customers. Etisalat is an innovative pacesetter
which has powered the UAE to be one of the top 10 nations in the world in terms of the availability of new
technologies, through its support and strategic vision of a number of government initiatives.
Through the launch of innovative new technologies and its regional growth strategy, Etisalat strives to be amongst
the top 10 telecom operators in the world. Through Etisalat’s major investment in Thuraya Telecommunications
Company, a leading international mobile satellite servie provider, the corporation’s connectivity coverage reaches
the majority of the entire planet.
The corporation offers a variety of hi-tech complimentary services to the telecommunications industry including
managerial and technical training, SIM card manufacturing, payment solutions, clearing house services, peering,
voice and data transit, and submarine and land cable services.
About HCL Technologies
HCL Technologies is a leading global IT services company, working with clients in the areas that impact and
redefine the core of their businesses. Since its inception into the global landscape after its IPO in 1999, HCL
focuses on ‘transformational outsourcing’, underlined by innovation and value creation, and offers integrated
portfolio of services including software-led IT solutions, remote infrastructure management, engineering and R&D
services and BPO. HCL leverages its extensive global offshore infrastructure and network of offices in 26 countries
to provide holistic, multi-service delivery in key industry verticals including Financial Services, Manufacturing,
Consumer Services, Public Services and Healthcare. HCL takes pride in its philosophy of ‘Employee First’ which
empowers our 73,420 transformers to create a real value for the customers. HCL Technologies, along with its
subsidiaries, had consolidated revenues of US$ 3.3 billion (Rs. 15,160 crores), as on 31 March 2011 (on LTM
basis). For more information, please visit www.hcltech.com
HCL is a $5.9 billion leading global technology and IT enterprise comprising two companies listed in India - HCL
Technologies and HCL Infosystems. Founded in 1976, HCL is one of India's original IT garage start-ups. A pioneer of
modern computing, HCL is a global transformational enterprise today. Its range of offerings includes product engineering,
custom & package applications, BPO, IT infrastructure services, IT hardware, systems integration, and distribution of
information and communications technology (ICT) products across a wide range of focused industry verticals. The HCL
team consists of over 80,000 professionals of diverse nationalities, who operate from 31 countries including over 500 points
of presence in India. HCL has partnerships with
IOMEGA ANNOUNCES APPOINTMENT OF SAMER SAYED AS B2B REGIONAL SALES MANAGER MIDDLE EAST AND AFRICA
Samer will lead current business efforts to further enhance
Iomega's Small and Medium Business Solution presence
as the benchmark in storage across the MEA region, and
the preferred global provider of storage and network solutions for mid-sized businesses.
“I am delighted that Samer has joined the Iomega team”, said Cizar Abu Ghazaleh Regional
Director, Middle East, Africa and Turkey Iomega Corporation. “With over a decade’s
experience, Samer superb skills are well-established, and he will help us in extending our already
strong presence in SMB markets in the MEA. His MEA sales and marketing experience in
business-to-business sales is an excellent asset for Iomega".
Samer Sayed brings more than 15 years' experience to Iomega, most recently at EMC where he
was the Regional Business Development Manager establishing and growing the public sector for
EMC.
Prior to joining EMC, he was Regional Manager for Fujitsu Siemens Computers/ Fujitsu
Technology Solutions managing ME where he also had great achievements building and growing
SMB channel and partners. Before Fujitsu Siemens, he served as sales & marketing manager
Saudi Arabia, Iraq, Qatar and Yemen at Toshiba Gulf FZE and as country manager PSG division
Saudi Arabia at Hewlett-Packard.
"I am excited to join such a leading company as Iomega and look forward to giving my
contribution to further strengthen its presence and its success", said Samer Sayed. "I am
enthusiastic about Iomega's programs and our products for small business storage markets,
and look forward to giving my part to enhance Iomega's leadership in markets across the MEA
countries”.
About EMC
EMC Corporation (NYSE:EMC) is the world's leading developer and provider of information
infrastructure technology and solutions that enable organizations of all sizes to transform the way
they compete and create value from their information. Information about EMC's products and
services can be found at www.EMC.com.
About Iomega
Iomega Corporation, a wholly owned subsidiary of EMC Corporation headquartered in San
Diego, is a worldwide leader in innovative storage solutions for small businesses, home
offices, consumers and others. The Company has sold more than 425 million digital storage
drives and disks since its inception in 1980. Today, Iomega’s product portfolio includes
industry leading network attached storage products for the home and small business; one of the
industry’s broadest selections of direct-attached portable and desktop external hard drives; and
multimedia drives that makes it easy to move video, pictures and other files from the computer
room to the livingroom. To learn about all of Iomega’s digital storage products and network
storage solutions, please go to the Web at www.iomega.com. Resellers can visit Iomega at
www.iomega.com/ipartner.
Emaar Retail’s leisure attractions to host a summer of fun for children at The Dubai Mall •
Six popular leisure entertainment attractions offering one action-packed summer
camp
KidZania® Summer Camps to include four creative workshops
Dubai Ice Rink offers Intensive Skate Camps and Summer Skating Deals
Dubai Aquarium & Underwater Zoo provides behind-the-scenes experiences as
Aquarists
At the Top, Burj Khalifa offering unparallel views from the world’s highest public
outdoor terrace
Dubai, UAE; May 9, 2011: Young ones will have the opportunity to enjoy a summer of fun and
learning at The Dubai Mall, the world’s largest shopping and entertainment destination.
Emaar Retail LLC, a pioneer in innovative entertainment, leisure and retail concepts, is hosting
special five-day summer camps that integrate fun with learning in some of the most popular
leisure attractions in the city including At the Top, Burj Khalifa, the world’s tallest observation
deck with an outdoor terrace. Hosted for the second consecutive year, The Dubai Mall Summer
Camp will be held from 9am to 3pm between July 3 and September 1, 2011.
Little ones aged from 7 years and above have the opportunity to take part in an attractive
array of enhanced fun events and educational programmes as part of the camp held at Dubai
Aquarium & Underwater Zoo, Dubai Ice Rink, KidZania®, Reel Cinemas, SEGA Republic and
the newly introduced addition to the camp, At the Top, Burj Khalifa.
The Camp will take the kids on a journey to KidZania® on day one; watching a movie at Reel
Cinemas and ice skating at Dubai Ice Rink on day two; experiencing the marvels of the aquatic
world at Dubai Aquarium & Underwater Zoo and touring At the Top, Burj Khalifa on day three;
enjoying thrilling games and exciting rides at SEGA Republic on day four; and completing the
programme with another day of fun-filled activities at KidZania® on the fifth day.
The Dubai Mall Summer Camp offers limited availability. For bookings, contact
enquiries@thedubaiaquarium.com or call 04 4485200. Admission to the summer camp is priced
at AED 600.
Gordon White, General Manager at Dubai Aquarium & Underwater Zoo, managed by Emaar
Retail LLC, said: “The Dubai Mall Summer Camp, integrating all the leisure attractions of
Emaar Retail, will be a novel educational experience for young ones. We are setting a new
trend in summer camps with specially tailored programmes that offer children a refreshing fun
experience. In addition to offering the thrills of adventure games, cinema and skating, the camps
also open doors for unique insights into the aquatic world.”
Parents also have the option of enrolling their children for any of the individual summer camps
hosted by Emaar Retail at its attractions. KidZania®, the first of its kind edutainment centre
in the region, offering professional role-play experiences for visitors, will offer four unique
workshops this summer that showcase children’s talent in various professions. These 5-day
themed workshops culminate with a performance day open for parents on Day 5. All the themed
workshops enhance the concept of education through fun and creativity. For bookings, contact
04 448 5222.
Dubai Aquarium & Underwater Zoo’s Aquarist Programme promises ‘big adventures for little
ones’. Children are offered the opportunity to gain a fascinating glimpse of behind-the-scenes
action as an Aquarist, and discover the marvels of the marine world. The Junior Aquarists can
meet a professional Aquarist, watch a shark feeding presentation, assist in feeding the aquatic
animals and ride on a glass bottom boat. The Senior Aquarist experience also includes a cage
snorkeling experience for closer encounters with over 33,000 aquatic animals in the aquarium.
For reservations, call 04-448 5200 or email enquiries@thedubaiaquarium.com.
At the Olympic-size Dubai Ice Rink, the Summer on Ice programmes will be held again
this year. Children can enroll for a four days Learn-to-Skate Programme for AED 750 and
enjoy a month of skating for free. An Intensive four days Skate Camp is also being offered
where children can master the ice with five levels of ice skating for AED 500 per level.
Enrol for all levels at AED 1,750 and save AED 750. For details, call 04-448 5111 or email
info@dubaiicerink.com.
At the Top, Burj Khalifa will offer children the opportunity to enjoy the amazing panoramic views
and marvel at some of the world’s most inspiring architecture. They will also get a chance to
experience a vast array of educational exhibits that touch on the making of Burj Khalifa, state of
the art technology and exciting facts.
The Dubai Mall Summer Camp is one of the popular summer events for children, and was
attended by several hundred young visitors last year. The emphasis of the camps on fun-based
learning appeal to the young ones, and serve as a perfect alternative choice for parents to keep
the children productively engaged during the holiday season.
GREEN SOLUTIONS A KEY TREND AT DOMOTEX MIDDLE EAST AND R+T MIDDLE EAST 2011
Global green building materials market expected to reach $406 Billion by 2015
Dubai, 9 May 2011 Environmentally friendly products are set to be a key trend at the region’s annual showpiece events; DOMOTEX Middle East, an event dedicated to the floor covering industry and R+T Middle East, the region’s only specialised trade fair for roller shutters, doors/gates, windows and sun protection systems.
Featuring the very best in cutting edge technology, innovations and trend setting designs for the entire Middle East region and beyond, the two events will take place side-by-side at the Dubai International Convention and Exhibition Centre from 12th to 14th September 2011.
Angela Schaschen, Managing Director of Deutsche Messe Dubai Branch, the organiser of DOMOTEX Middle East said: “Both globally and in the region there is a growing awareness of the environmental impact of the materials used for floor coverings; from the energy it takes to make a product, to the energy saving benefits green products can provide, to biodegradability when disposing of the materials. And with the global green building materials market expected to reach $406 Billion by 2015* demand for green floor coverings is growing every year.”
Despite the lack of regulations in many Middle Eastern countries to enforce a green code on the construction industry, there are some notable exceptions, Abu Dhabi, where over 130 billion AED** worth of fresh construction contracts were awarded in 2010, is striving to become the green capital of the Middle East. Last year saw the launch of Abu Dhabi’s building code which includes objectives to increase the use of local materials and aims to improve supply chains for sustainable and recycled materials and products. Qatar has developed the Qatar Sustainability Assessment System, a green rating system which is specifically tailored for the requirements of the region. The system aims to minimize the environmental impact of the built environment while addressing the specific regional needs and environment of Qatar. The Green Business Council in the Kingdom of Saudi Arabia also encourages suppliers to produce environmentally responsible products for the construction trade.
Bernhard Mueller, Division Director Messe Stuttgart International, joint organiser of R+T Middle East said; “We are seeing a huge interest in products that balance sustainability with the business objective of profitability and we expect to see this trend replicated in the Middle East. Across the region, we are increasingly seeing that new buildings, whether they are designed for office or residential use, are more attractive to the market if they have green credentials. Roller shutters, doors/gates, windows, sun-protection and access control systems are crucial components of any construction project so the business potential in this sector is significant.”
DOMOTEX and R+T Middle East 2011 will once again host Designers Corner, where industry experts will give presentations and seminars on trends, technologies and the hottest projects in the GCC. Designers Corner has a duel focus this year with a DOMOTEX Middle East day dedicated to Interior Designers and an R+T Middle East day dedicated to Architects.The Designers’ Corner attracts designers, interior designers and architects looking for information on ongoing projects in the region, industry insights and new materials.
“With information on the newest product developments and innovations, all conveniently brought together in Designers Corner, visitors can catch up on the latest ideas and use their new-won knowledge to stay ahead of their competitors,” concludes Schaschen.
Further information on the shows can be found at www.domotex-middle-east.com and www.rt-middle-east.com
* Green Building Materials: A Global Strategic Business Report Global Industry Analysts, Inc
** According to research by Ventures Middle East
About DOMOTEX Worldwide:DOMOTEX Middle East, the only specialised floor covering show in the Middle East and North Africa region, is organised by Deutsche Messe, the name behind DOMOTEX Hannover - the world’s leading trade fair for floor coverings and carpets - and DOMOTEXasia/CHINAFLOOR, the number one flooring show in Asia, which is organised together with VNU Exhibitions Asia.
The continuous growth and steadiness of all three flooring shows justifies the confidence of the flooring industry in all DOMOTEX shows. Exhibitors and visitors attend to show and find the latest trends, see the global market survey, share knowledge and benefit from the most efficient business platforms in the flooring industry.
DOMOTEX Middle East: 12 – 14 September 2011
DOMOTEX Hannover: 14 – 17 January 2012
DOMOTEXasia/CHINAFLOOR: 27 – 29 March 2012
About R+T:
As the leading global trade fair of its kind, German-based R+T, organised by Messe Stuttgart, is the internationally renowned name in roller shutters, doors/gates and sun protection exhibitions with shows in three prominent construction material markets: R+T Stuttgart in Germany, the leading global trade fair of its kind; R+T Asia in Shanghai, China, which focuses on Asian and Chinese markets; and R+T Middle East in Dubai, which caters to MENA markets.
R+T Middle East: 12 – 14 September 2011
UAE University Students visit DM
A student delegation from the UAE University comprising 100 girls from the Faculty of
Geology recently visited Dubai Municipality. The visit comes in line with the strategic
objectives of the department aimed to activate the channels of communication with
community groups.
Ibrahim Juma, Acting Head of Coastal Zone and Waterways Management Section,
welcomed the delegation and explained the operation systems of the section. He also
elaborated on important projects, activities and services undertaken by the section to
achieve the strategic objectives.
During the visit, the students learned how Dubai Municipality maintains and manages the
coastal area.
Juma said the visit comes within the framework of Municipality's keenness to strengthen
relations with the scientific, academic and government bodies. Such visits also help to
increase the awareness and importance of coastal management.
Emirates NBD provides free foreign currency telegraphic transfers to online customers
• Available to all online banking customers until June 30,
2011
• Includes all foreign currency telegraphic transfers
• Bank committed to providing attractive benefits and greater
convenience
Dubai, May 9, 2011: Emirates NBD, a leading bank in the region, announced
today that its foreign currency telegraphic transfer facility is free of charge for
online banking customers until June 30, 2011.
“Today’s announcement will enable our customers to make all foreign currency
online transfers, free of charge, until end of June 2011,” said Abdulelah AlKindy,
General Manager, Retail Banking, Emirates NBD. “This is in line with our
commitment to provide attractive benefits and greater convenience to what is
already a fast and efficient alternate banking channel.”
The limited-period offer is in line with the bank’s commitment to providing
its customers with relevant and convenient services. It is valid for all foreign
currency telegraphic transfers that are conducted via BankNet, Emirates NBD’s
comprehensive online banking system.
“UAE remittances total around AED 120 billion each year, primarily to support
dependents or for investment purposes,” continued AlKindy. “With a large
expatriate population working and residing in the UAE, foreign currency
telegraphic bank transfers are among the more popular services provided by
UAE banks.
“At almost half of the total, the largest volume goes to India, followed by China
Bangladesh, the Philippines, Pakistan, Nepal, Sri Lanka, Indonesia and other
countries,” he added.
“As the pioneering online banking service in the UAE, Emirates NBDs BankNet
offers the ideal platform for making fast and convenient telegraphic transfers
to anywhere in the world. The transaction can be carried out simply from any
Laptop or Smartphone, from the comfort of one’s home or office,” he continued.
BankNet allows customers to view their account details, transfer funds, open
accounts and order chequebooks and ATM/debit cards online, with no fees and
24-hour availability. With 32 payment partners, including Etisalat, Du, SALIK,
DEWA, RTA, Emaar Properties, flydubai and many others, the greater part of
managing personal finances can now be taken care of from a single platform.
Other banking solutions offered by Emirates NBD include mobile banking facility,
the latest addition to Emirates NBD’s numerous existing information technology
channels, which also include online, telephone and PDA banking.
About Emirates NBD:
Emirates NBD (DFM: Emirates NBD) is the biggest banking group in the Middle East by assets.
At 31st of December, 2009, total assets were AED 281.6 billion and a combined market share of
20.5%.
The Group has a leading retail banking franchise in the UAE, with 132 branches, 705 ATMs and
SDMs. It is a major player in the UAE corporate banking arena, with a combined market share of
almost a fifth of corporate loans. It also has strong Islamic banking, investment banking, private
banking, asset management and brokerage operations.
The Group has operations in the UAE, the Kingdom of Saudi Arabia, Qatar, the United Kingdom
and Jersey (Channel Islands), and representative offices in India, Iran and Singapore. For more
information, please visit: www.emiratesnbd.com
IPCC Report Affirms a Major Role for Renewable Energy in a Diversified Energy Mix
Intergovernmental Panel on Climate Change
Abu Dhabi-UAE: 9 May, 2011 – Renewable energy sources have a major role to
play in diversified, low-carbon energy systems, according to a report released by
the Intergovernmental Panel on Climate Change (IPCC). This is a powerful support
for the UAE’s aggressive push into renewable energy technologies, announced
Dr. Sultan Al Jaber, UAE Special Envoy for Energy and Climate Change and Chief
Executive of Masdar, at a press conference announcing the release of the report on
“As well as having a large potential to mitigate climate change, renewable energy
can provide wider benefits. Renewable energy can contribute to social and economic
development, energy access, energy security, and reduce negative impacts on the
environment and health,” stated the report.
“The report makes clear that the energy mix chosen will vary from country to
country, but renewable energy has a potentially huge role to play in that energy mix
and that global technical potential for renewable energy, as a whole, is unlimited,”
said Dr. Al Jaber. “This diversified approach is consistent with the strategy being
followed by the UAE.”
“The inception of the Masdar Initiative, the UAE’s strategic and holistic renewable
energy and sustainability initiative was based on our belief that the renewable
energy sector would witness an increasing growth. The data compiled by the IPCC
reaffirms our beliefs,” he said.
Adnan Amin, Director General of IRENA, said: “The IPCC Special report indicates
that the growth of the renewable energy sector is both imminent and progressive –
it clearly indicates that renewable energy will have a major role to play in the future
energy mix of the world."
The report reviews 164 scenarios for the growth of new renewable energy sources,
excluding traditional biomass. These foresee renewable energy growing by between
three and 20 times in scale by the middle of this century.
Meanwhile, despite global financial challenges, renewable energy capacity grew in
2009 — wind by over 30 per cent; hydropower by three per cent; grid-connected
photovoltaics by over 50 per cent; geothermal by 4 per cent; solar water/heating by
over 20 per cent and ethanol and biodiesel production rose by 10 per cent and 9 per
cent respectively.
According to the report, estimates for the investment needed during this decade
alone range from 1.3 to 5.1 trillion dollars. “These projections show the huge scale
of the opportunity to invest, creating new jobs, economic growth and cleaner energy
systems,” said Dr. Al Jaber
Moreover, close to 80 per cent of the world’s energy supply could be met by
renewables by mid-century if backed by the right enabling public policies.
Dr. Al Jaber also highlighted the possible role that the Masdar Institute of Science
and Technology could take in filling the gap of identifying more information on
managing energy systems and integrating very high levels of renewable energy.
“I hope that UAE institutions including the Masdar Institute will be able to play a
role in filling this gap in the future,” he said. “There is scope here for innovation,
investment and the creation of new jobs and growth.”
Following the release of the report, members of the IPCC and the Masdar Institute
held a special panel on Renewable Energy technology and policies to discuss further
means of collaboration.
In closing, Dr. Sultan thanked the Chair, Co-authors and authors of the report,
adding, “The strength of this report, in my view, rests in the IPCC’s core methods –
this is a definitive review of the scientific literature on renewable energy.”
Dubai FDI extends support to inaugural Annual Investment Meeting (AIM)
- Dubai FDI is “Host City Sponsor” for the landmark summit, discussing opportunities for FDI and public-private partnerships worldwide
Dubai, May 9, 2011: Dubai FDI, the investment promotion arm of the Department of Economic Development (FDI), will highlight the success of Dubai in enhancing the business environment and attracting foreign investment at the Annual Investment Meeting (AIM), opening in Dubai on the 10th of May 2011.
The first-of-its-kind summit will bring together policy-makers and strategists from the government and private sector worldwide, including leaders in key business sectors, to evaluate country-wide opportunities for foreign direct investment (FDI) and public-private partnerships.
Dubai FDI is the “Host City Sponsor” of the meeting, to be held at the Dubai International Convention and Exhibition Centre from May 10th to 12th.The summit is jointly organised by the UAE Ministry of Foreign Trade, the United National Conference on Trade and Development (UNCTAD), and the World Association of Investment Promotion Agencies (WAIPA).
The three-day meeting is intended to give a fresh impetus to global growth by bolstering trade relations, renewing reciprocal business commitments and igniting strategic investments towards high growth economies.
Describing the summit as a strategic step towards promoting understanding on the prevailing global investment climate, Mr. Fahd Al Gergawi, Chief Executive Officer of Dubai FDI said AIM will also allow Dubai to share its experience in activating trade and investment through innovative approaches.
“Dubai and the UAE have traditionally been a magnet for trade and investment in the Middle East, North Africa and South Asia (MENASA) region. The region accounts for approximately 25 per cent of the world population and has seen unprecedented economic growth and reforms recently. Dubai offers the best access point to MENASA and an increasing number of global businesses hence have Dubai as their regional hub today,” said Al Gergawi.
Al Gergawi added that Dubai is complementing its geographical advantage with structural improvements, drawing an encouraging response from investors in the region and beyond.
“Investors worldwide see vast potentials in being in Dubai. Last year A.T. Kearney ranked Dubai among the top 25 global investment destinations, which together attract 75 per cent of global FDI flows. Dubai was also ranked 11th globally and first in the MENA region in their FDI Confidence Index. Participants in AIM will be keen to know what sets Dubai apart as an investment destination and how we manage to do it. We are happy to share our experiences with them,” Al Gergawi said.
The Annual Investment Meeting will also build on the strong association between Dubai FDI and the World Association of Investment Promotion Agencies (WAIPA). In 2010 WAIPA named Dubai FDI as its Middle East and North Africa (MENA) director, in recognition of Dubai FDI’s success in promoting and facilitating foreign investment inflows.
Brian Gammage Joins VMware
further boosts VMware team
Dubai, United Arab Emirates, 10th May 2011: VMware Inc. (NYSE: VMW), the global leader in
virtualization and cloud infrastructure, today announced the appointment of former Gartner fellow
Brian Gammage to the newly created global role of chief market technologist. Based out of the UK, Brian
will work closely with customers to define the journey to a modern end-user computing model that
securely delivers access to applications and data from any device, where and when a user needs it.
Brian joins VMware from Gartner, the world’s largest technology analyst firm, where he was a research
fellow and widely regarded as one of the most influential global analysts in the desktop virtualization
market. Overall he has more than 25 years IT sector experience, having also worked at HP, Olivetti
Systems and Acorn Computers.
The appointment comes at a time when enterprises are dealing with two fundamental client computing
pain points – providing secure access to an increasingly mobile workforce and managing the burgeoning
diversity of data, applications and devices needed to run their business.
Chris Young, vice president and general manager, End User Computing VMware, said: “It’s a real coup
to have hired Brian and we’re delighted to welcome him aboard. Having advised some of the world’s
largest companies for more than a decade, he brings a very valuable perspective at a crucial time for
enterprise IT. Establishing a new end-user computing model is a fundamental component of VMware’s
vision for IT as a Service and Brian will play a major role in making it a reality for customers.”
Brian Gammage, chief market technologist, VMware, said: “I’m extremely excited to be joining VMware,
a company that is modernising and simplifying IT for all organisations. The prospect of users having
access from any device to any application, enabled by cloud computing, is becoming a reality and
VMware is a leader in this change. Having advised on these issues for many years, I’m now looking
forward to helping VMware’s customers deliver real value to their organisations through effective
implementations.”
Brian’s appointment is effective immediately, having left Gartner at the end of April. He will be based in
VMware’s Frimley, UK offices, though his remit is global.
About VMware
VMware delivers virtualization and cloud infrastructure solutions that enable IT organizations to
energize businesses of all sizes. With the industry leading virtualization platform – VMware vSphere® –
customers rely on VMware to reduce capital and operating expenses, improve agility, ensure business
continuity, strengthen security and go green. With 2010 revenues of $2.9 billion, more than 250,000 customers
and 25,000 partners, VMware is the leader in virtualization which consistently ranks as a top priority among
CIOs. VMware is headquartered in Silicon Valley with offices throughout the world and can be found online at www.vmware.com.
Artist Sacha Jafri named Audi brand ambassador
Dubai, May 10, 2011 – Audi Middle East announces acclaimed painter and artist
Sacha Jafri as Audi brand ambassador. Audi supports START, a non-profit
organization providing art education for refugee, orphaned and special needs
children from the Middle East. Jafri has supported this cause while working on his
new collection, “Universe of the Child” and is continually inspired by the ‘Children
of START’.
Audi’s first project with Jafri was the transformation of an Audi TT Roadster into
a piece of art. The proceeds of the unique vehicle benefit START children’s
initiatives in the Middle East.
“I feel incredibly honored to be named an ambassador for Audi Middle East.
Working with the company on this project has given me a real insight into what
goes into perfecting not only the mechanics, but also the aesthetics of a car. I
believe it’s an artist’s duty to give back to the community, something that will lastwell beyond the legacy of the work itself” he explains.
Jafri graduated from Eton College in 1995 and from Oxford University with a
first class MA from Ruskin School of Fine Art in 1999 and has since been widely
acclaimed as one of the most celebrated and influential painters in the world
with his recent paintings selling for as much as USD $1,000,000. He will now be
driving an Audi A7.
Symantec Launches SEP12 Public Beta
Symantec Endpoint Protection 12 to combat the volume and complexity of cyber
attacks in traditional and virtual environments
Dubai, United Arab Emirates. – May 10, 2011 – Corp. (Nasdaq: SYMC) has announced Symantec
Endpoint Protection 12, now available for public beta and optimized for virtual environments, offering
organizations the protection needed to effectively block both known and new cyber threats. Symantec
now opens its previously invitation-only beta program to the public, and interested parties may sign up
here. Symantec Endpoint Protection Small Business Edition 12, also now available for public beta, will
offer small organizations with limited IT staff and resources a solution they can easily deploy to start
protecting their businesses in less than 20 minutes (on average in a less than 50 user environment). The
new versions are scheduled to be generally available later this year for purchase through Symantec’s
worldwide network of value-added authorized resellers, distributors and systems integrators or directly.
For mid- to large-sized organizations, Symantec offers Symantec Endpoint Protection 12 for on-premises
deployment. For smaller organizations, Symantec offers both on-premises and cloud-based solutions
with Symantec Endpoint Protection Small Business Edition and Symantec Endpoint Protection.cloud,
respectively, providing customers with flexibility of choice and freedom of deployment to best meet
their business needs.
Threat Landscape: The sheer volume of sophisticated attacks targeting organizations of all sizes poses
a daunting challenge for traditional signature-based security solutions that can’t keep up. According to
Symantec’s Internet Security Threat Report, in 2010, attackers unleashed more than 286 million distinct
malicious programs, an average of more than nine new threats every second of every day. These threats
impact multiple areas of the IT infrastructure with a 93 percent increase in Web-based attacks, 42
percent more mobile vulnerabilities, and 6,253 new vulnerabilities including 14 zero-day vulnerabilities
which played a key role in targeted attacks like Hydraq and Stuxnet. Security solutions that provide
central management and security intelligence are required to combat persistent, coordinated assaults
on organizations today.
Symantec Endpoint Protection 12: To provide unmatched protection against this new threat landscape,
Symantec Endpoint Protection 12 is designed to detect and block sophisticated new threats earlier,
more accurately, and with greater performance than any other security product. Symantec Endpoint
Protection leverages Insight, Symantec’s award-winning community and cloud-based reputation
technology, to block new and unknown threats missed by other security solutions. By blocking risky files
with a poor reputation from entering an organization, Symantec Endpoint Protection provides a vital
first line of defense in the battle against advanced persistent threats. Built for speed and effectiveness
in virtual environments, internally-conducted testing of the software in heavily consolidated virtual
environments shows a 90 percent reduction in disk usage, thus delivering up to a tenfold increase
in consolidation density. Symantec continues to work closely with VMware to take full advantage of
virtualization awareness and introspection capabilities based on VMware vShield™ technology, and
Symantec Endpoint Protection 12 is the first step along the optimization path for virtual and cloud
environments.
SINNAD signs pan-regional network connectivity with tawasul telecom
MANAMA May 10th 2011: SINNAD, a leading third party card processing and ATM services and solutions provider for banks and financial institutions in Bahrain and the GCC countries, has announced that it has signed a network telecommunication services agreement with tawasul telecom – a leading regional MPLS services provider in the GCC. tawasul telecom will provide SINNAD with an end-to-end telecom solution with a single point of accountability for all connectivity services.
Mr. Ebrahim Janahi, General Manager of SINNAD stated: “We are very proud of our cooperation with tawasul telecom, a reputable regional telecoms provider enjoying a prime status on the local and regional level. We are confident that through this agreement we will be able to provide our clients with a higher standard of connectivity in terms of both dependability and follow through, which will in turn allow them to provide their own clients with the flexibility and security to conduct their financial transactions on a regional scale.”
Mr. Hani Al-Shakhs, CEO of tawasul telecom said: "In line with our efforts to provide secured transactions to our customers, SINNAD has signed with tawasul telecom to provide best-in-class MPLS connectivity solutions to expand its reach across the GCC and the Middle East region."
Mr. Al-Shakhs also went on to say: “tawasul telecom owns and operates the region’s only interconnected MPLS network, which was designed from the ground up with full redundancy and the highest of security standards. This in turn enables us to provide our customers with true SLAs that are unmatched in the region, giving our clients the peace of mind that enables them to focus on their core business.”
He further noted that SINNAD's assignment of tawasul telecom comes in light of both companies’ identical pursuit of strategic partnerships to provide leading financial and banking institutions in the region with dependable, flexible, economic and durable solutions to support their communication and transaction processing infrastructure.ENDS
About SINNAD
SINNAD is a Joint Venture company between BENEFIT and Network International – the region’s leading card payment solutions provider
SINNAD is fully licensed by the Central Bank of Bahrain to provide End to End card processing and electronic banking solutions to financials and nonfinancial institutions and to help institutions grow business with minimum risk, higher efficiency, lower operating cost and increasing profit.
www.sinnad.com.bh
About tawasul telecom
tawasul telecom has successfully pioneered the provisioning of IP based services across multiple borders in the Middle East Region. In cooperation with regional carriers and international operators, tawasul telecom owns and operates its unique highly available interconnected MPLS network. The company’s services and solutions are also backed up by carrier grade Service Level Agreements (SLA); an exceptional offering in the region. tawasul telecom’s fully redundant network facilitates the provision of nonstop reliable services in accordance with international standards.
www.tawasultele.com
DM’s religious print material collection progresses in mosques
Dubai Municipality has launched the third phase of unused religious book collection
through different mosques in Bur Dubai. The Municipality had collected 40 containers of
books and other religious print materials in its previous campaigns.
The project, organized by the Municipality and Islamic Affairs & Charitable Activities
Department, has been progressing in ten mosques in Bur Dubai area with a target of 10
containers’ collection in the third phase.
Eng. Abdul Majeed Sifai, Director of Waste Management Department said that the project
is aimed at safe and eco-friendly disposal of unused religious publications which have
contents from Holy Quran and Hadith. The initiative will help the public to protect religious
publications from throwing in waste bins.
“All mosques in Dubai will be provided such collection containers, and Imams are requested
to encourage public to use these facilities,” he added.
The collected materials will be recycled/disposed according to Islamic principles by Eco-
Tech Company.
Major infrastructure projects will support the rebound of Dubai real estate
Oversupply in residential units is seen as the main factor behind
declines of rents and prices of properties, finds a Dubai Chamber
study
Completion of world-class infrastructure projects and an
excellent business environment will lead to the recovery in the
sector
Real estate sector rebound is expected at a slow pace as it may
take this year for the prices to bottom out
•
•
Dubai, UAE: A recent Dubai Chamber of Commerce and Industry
study reveals that prices in Dubai’s real estate market have declined
for the last two years due to oversupply in residential units. This is
also seen as the main factor behind further declines in rents and prices
of properties according to experts in the local real estate market.
Nonetheless a robust rebound is expected at a slow pace as it may still
take 2011 and the first quarter of 2012 for the sector prices to bottom
out, states the study.
Based on the price index and supply of units of Dubai’s residential real
estate sub-sector in 2010 and its outlook in the short term, published
by Colliers International and Jones Lang LaSalle and others, the study
reveals that completion of world class infrastructure and a business
friendly environment over the last two years will be among the main
factors behind the creation of more demand for Dubai real estate.
The study further reveals that remarkable transport infrastructure
investments such as Dubai Metro Green Line and the major extensions
of Dubai International Airport will increase the attractiveness of the
Emirate and the eventual rebound of its real estate market.
Overall Residential Real Estate Price Index
A blended index for Dubai quarterly house price index for the period
Q1-2007 and Q4-2010 is depicted in Figure 1. A blended index is
defined as an index that encompasses sale prices and rents of villas,
apartments and town houses.
Dubai’s house price index registered a 1% increase in
compared to
overall decline of about 6% in value when compared against Q4-2009.
The blended average house price for Q4-2010 was approximately AED
961 per square feet) compared to AED1, 022/ft2 in Q4-2009.
Q3-2010. On an annual basis, the index witnessed an
Figure 1 Dubai House Price Index
250
200
150
Index
100
50
0
Index Points (LHS)
Source: Dubai Chamber based on Colliers International
Quarterly % Change(RHS)
Annual % change (RHS)
Dubai Residential Market Supply Demand Trends
The total supply percentage share of villas and apartments in Dubai’s
residential market is composed of about 79% apartments and 21%
villas. Figure 2 indicates that in 2010, the supply pipeline in Dubai had
past its peak. According to Jones Lang LaSalle, in 2010 approximately
36,000 residential units were completed, bringing the total residential
stock to around 309,301 units by the end of the year.
In 2011, it is expected that about 25,545 units will be completed,
implying that the new supply of residential properties in Dubai is
expected to slow down by about 30% compared to 2010. According to
the same source, major residential projects have already started and
expected to be completed in H1-2012.
Figure 2 Supply in Dubai Residential Market
370 ,000
350 ,000
330 ,000
310 ,000
290 ,000
270 ,000
250 ,000
25 ,545
36 ,000
273 ,301
2010
Completed stock
309 ,301
2011
Future Supply
Source: Dubai Chamber based on Jones Lang LaSalle
From the demand side, the year-on-year Dubai residential numbers
have decreased by 53% and their corresponding transactions value
has decreased by 65% for the period between Q3-2009 to Q4-2010.
Dubai Apartments and Villas Price Trends
Investigating the individual price movements of residential apartments
and villas separately, Figure 3 shows that in Q4-2010, the overall
apartment
following a negative percentage change for the last quarters in a row.
Transactions of apartments increased by 16% for the same period
under investigation. On an annual basis, the overall apartment index
declined by 5% in Q4-2010 compared to Q4-2009. The biggest drop in
index
remained
unchanged
apartment lease rates was once again recorded for smaller unit types -
studios and one bedroom units.
The villa market has closely mirrored the pattern of the apartments
market during Q4-2010 with rates decreased by 3.3%. On an annual
basis, the drop was just 2%, with the smaller villa sizes of two and
three bedroom units witnessing the biggest reductions. Diminishing
lease and occupancy rates have resulted in some landlords being
willing to absorb service charges on behalf of the tenants, whilst
others are offering rent-free periods as an incentive. Other landlords
are offering rates of 10% to 12% below prevailing market levels in
order to secure tenants willing to pay their rent a full year in advance.
Figure 3 Dubai Apartments and Villas Price Trends (Q1-2007 =100)
250
200
150
100
50
0
Price Index Apparments
Price Index Villas
Source: Dubai Chamber based on Colliers International
Outlook and Conclusions
The study concludes by stating that Dubai’s real estate sector will
gradually recover with a lag to the recovery in the domestic and
global economy, even though it is unlikely to return to pre-crisis
sales or rental growth rates in the foreseeable future. The real estate
sector will remain under stress due to the onset of massive new
supply. Despite current challenges, Dubai, as the region’s financial
and business hub will continue to provide attractive investment
opportunities regionally.
Dubai has already laid down solid world class infrastructure and
an
investor-friendly
unique conditions will enable Dubai in the medium term to provide
opportunities for investors with long term objectives to enter the
market and acquire valuable assets at a discounted value. Recovery
and sustainable future growth of Dubai’s real estate market is subject
to some positive changes in market regulations and implementation
of existing laws that can ensure transparency by putting in place the
appropriate disclosure measures.
business
environment,
Thursday, May 5, 2011
your infant’s colic woes with Tommee Tippee’s anti-colic range
ease colic in infants
Dubai, May 05, 2011: Tommee Tippee, UK’s number one baby care brand, has
introduced a new range of anti-colic feeding bottles with advanced easi-vent technology.
Distributed in the region by TruCare FZC, the leading distributor in the UAE for
international childcare brands, this unique range has been designed to make it easier for
babies suffering from colic, by helping reduce the amount of air ingested during feeding.
Commenting on the anti-colic range from Tommee Tippee, Mr. Muffadal Kagalwala,
Business Manager, TruCare FZC, said, “Tommee Tippee offers a wide range of baby
care products of unmatched quality and technology. The anti-colic range is a highly
developed system of feeding for infants created to offer a solution to distressed parents
of babies with colic. While colic remains a mystery for parents and doctors alike, it is
largely believed to be linked to ingestion of air during feeding. Tommee Tippee’s anti-
colic range works on a technology that is easy and safe to use and has been tested
effective against colic.”
The anti-colic range, part of Tommee Tippee’s revolutionary closer to nature range,
includes unique easi-vent bottle, where the valve is integrated in the teat and the free
flow bottle, where the valve is inside the bottle for optimum venting.
The anti-colic bottle provides a heat sensing tube that provides blue and pink color
indication for safe feeding. The heating sensing tube keeps you informed if the milk is
cool enough to feed. The fast flow teat bottles help the baby to feed without a pause,
with a revolutionary vent system that reduces ingestion of air.
Tommee Tippee’s revolutionary range of products is carefully designed with a great teat
that is closest to nature. The soft silicone teat that gently elongates and flexes during
feeding, brilliantly mimics the natural breastfeeding action, making it easier to shift from
breast to bottle feeding. The unique bottle shape is designed to be held in the most
natural position, with right viewpoint to imitate the natural breastfeeding action.
The entire Tommee Tippee Collection is widely available at all major retailers such as
Toys r Us and Baby Shop. The range is also available at nursery stores, independent
pharmacies and baby stores in the region.
About Tommee Tippee
Tommee Tippee, from the UK based Mayborn Group Limited, is the number-one brand of infant
and toddler feeding products in Great Britain and one of the top brands of infant products and
accessories in the global market. Loved by parents and children alike, Tommee Tippee has
received numerous brand accolades in Great Britain, including top ranks in the prestigious
Mother and Baby Awards, a head-to-head assessment of competitive products voted on by moms
themselves. The Tommee Tippee Closer to Nature line of baby bottles has been chosen as Great
Britain’s best baby bottle, winning the Gold award in 2006/7, in 2008/9 and again in 2009/10. In
2009, Tommee Tippee was the first and only children’s feeding brand to be selected as a UK
Superbrand in a nationwide poll of consumers, putting it on par with brands such as Microsoft®,
Coca-Cola®, Nike®, Lego® and Google®.
About TruCare FZC
TruCare FZC operates from its corporate office based in Sharjah Hamariyah Free Zone. It has a
modern warehouse comprising of more than 12000 Sq Ft, implementing state of art technology in
warehousing, logistics and distribution of kiddie's product. The company was formed in response
to the lack of professional brand distribution management in the Middle East. Trucare currently
distributes multiple international brands in the Middle East region. Trucare oversees and retains
control of all brand-marketing, sales & promotional events in the region.
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