Abu Dhabi / WAM
The Tourism Development and Investment Company (TDIC), the master developer of major tourism, cultural and residential destinations in Abu Dhabi, announced on Wednesday that 60 per cent of the units has been sold after unveiling a compelling selection of residential units on Saadiyat Island at Cityscape Abu Dhabi 2017, taking place from April 18-20 at the Abu Dhabi National Exhibition Centre (ADNEC).
TDIC released 109 residential units for sale at Cityscape Abu Dhabi through its 3 major projects in Al Saadiyat Island, including 50 distinctive apartments in Mamsha Al Saadiyat, 29 contemporary villas on sale in the Saadiyat Beach Golf Club-facing Jawaher Saadiyat, as well as more than 30 units across the fully inclusive nature-based community of Saadiyat Lagoons, the developer said in a press release.
The TDIC said the new sales achievements came after announcing the 2.5 per cent deposit and payment proposition, creating a remarkable offer for the prospect of home ownership in the capital’s premier destination.
The developer said that the residential development projects are proceeding ahead of schedule, with growing interest and sales from homeowners and investors indicative of the enviable quality of life available on Saadiyat Island once construction across the destination’s projects is complete.
The new plan establishes a milestone in local real estate offerings, providing buyers the opportunity to secure residential offerings of superior quality at newly affordable rates with a trusted developer.
Development on Saadiyat Island- widely viewed as the future of contemporary Abu Dhabi, providing residents and visitors with access to a wide range of culturally and leisure immersive experiences- epitomise the emirates strategy for growth and development, combining innovation with rich traditions and heritage, whilst adhering to an environmentally sensitive philosophy.
High turnout at Cityscape
reflects growing stature of
Abu Dhabi: Al Baloushi
Abu Dhabi / WAM
More than 100 companies from across the world are participating in the 11th Abu Dhabi Cityscape 2017, now running in the UAE capital, with industry reports expecting the event to drive momentum for the property sector in Abu Dhabi in particular and across the country in general.
According to Rashid Al Baloushi, CEO of ADX, the state of optimism created by the premier platform is quite justifiable on account of the role played by the property market, being a significant enabler not for the financial markets
only, but for the tourist, transport, trade and investment
platforms as well.
The impressive turnout witnessed by the event is a testament to the emirate of Abu Dhabi’s ability to organise successful exhibitions that reflect the growing stature of the emirate and considerably contribute to the country’s national economy, he added.
This year’s participants included new players in the real estate markets, including Al Abbar Group, Tiger Property, Dubai Investments Real Estate Company, Abu Dhabi Holding, Hydra Properties, and RAK Properties along with a number of leading property companies that have earned the event an edge over other similar platforms in the region. A number of key international real estate companies from Turkey, UK, Maldives, Azerbaijan, Bosnia, Canada, China, Herzegovina, Cyprus and Portugal are also participating, giving the event a further international acknowledgement.
New economic developments at the real estate industry in terms of prices, and supply of diversified types of property and financing are among the issues being discussed during the event. Companies participating in the event have shown noticeable tendency to offer wider options at more affordable prices in line with the prevailing market conditions, with an emphasis on smaller units that are diversified by geography and total spaces.
Launching fresh property investments in UAE free zones, five of which are located in the capital Abu Dhabi, account for part of the debates during the event.
ADX CEO has expressed belief that the considerable fall in real estate prices drives medium and long-term investments in Abu Dhabi real estate sector, highlighting the myriad advantages boasted by the real estate platform, including predictability and high returns.
The overall economic performance in the Emirate of Abu Dhabi reflects the high growth potential boasted by the emirate and the international credibility enjoyed by the economy of the country which has been recently boosted by the relative stability in the international oil prices, Al Baloushi added.
He highlighted the impressive role played by a series of economic partnerships that have been reached over the past period in implementation of the Abu Dhabi 2030 Vision.
“The new real estate legislation introduced by the Emirate of Abu Dhabi in areas of credit and mortgage will definitely enhance the real estate sector’s competitiveness, are expected to reflect positively on the real estate, tourist, transport, and trade sectors, therefore translating the objectives for which Cityscape has been organized for, ” added Al Baloushi.
UPC inks pact to launch ‘Year of Giving’ initiative
Abu Dhabi / Emirates Business
The Abu Dhabi Urban Planning Council (UPC) on Wednesday made a formal agreement with the UAE’s leading property companies, committing them to a major community initiative for Year of Giving 2017.
A ceremony held on the second day of Cityscape Abu Dhabi saw the UPC sign a Service Level Agreement (SLA) that officially launches its ‘CSR Year of Giving Initiative’.
Under the agreement, the UPC will work with private sector companies to establish new community amenities such as mosques, public parks, walkways, playgrounds and sports facilities throughout Abu Dhabi, as well as honour UAE’s Martyrs.
A dedicated team will manage all of the contributions and decide the location of future projects as well as costs. Under the agreement, the companies will target areas of Abu Dhabi that currently lack community facilities, as well as launch fundraising events to support the provision for them.
Falah Al Ahbabi, Director General of the UPC, said: “We are really proud to see the private sector actively involved in this initiative, and supporting us to work together towards building new sustainable communities that meet the expectations of our society and raise their living standards.
“I am delighted with the amount of contributions made by the developers. The amount was more than I ever expected. This will help us in our joint efforts to build new social amenities,
dedicated to our community.
“Their generosity is following in the footsteps of our Founding Father, the late Sheikh Zayed bin Sultan Al Nahyan. His legacy led by HH Sheikh Khalifa bin Zayed Al Nahyan, UAE President, lives on through the kind-hearted donations from
private sector businesses.”
In the presence of HE Maryam Mohammed Al Rumaithi, Director General of the Family Development Foundation and Abu Dhabi Representative in the central coordination of the Year of Giving Committee, the agreement was signed by HE Falah Al Ahbabi, Director General of the UPC; HE
Mohamed Khalifa Al Mubarak, CEO of Aldar Properties; Sufian Al Marzooqi, CEO of Tourism Development & Investment Company; Mohamed Al Zaabi, CEO of Miral Asset Management; Abdullah Ali Al Saadi, Member of the Board of Directors and Managing Director, of National Investment Corporation; Khalifa Yousif Khouri, Vice Chairman of Al Qudra Holding; Sameh Muhtadi, CEO of Bloom Holding; Nadir A. Al Hammadi, Chairman of Tamouh; HE Mohamed M. Al Qubaisi, Chairman of Manazel Real Estate; and Mounir Haidar, CEO of Lead Development and Project Management Consultants.
H.E. Maryam Mohammed Al Rumaithi, Director General of the Family Development Foundation and Abu Dhabi Representative in the central coordination of the Year of Giving Committee, said: “I am pleased to extend my gratitude to the UPC for its efforts in bringing this initiative to fruition through different projects and impressive contributions.
“I am extremely happy with this initiative in response to the vision of H.H. Sheikh Khalifa bin Zayed Al Nahyan, UAE President and Ruler of Abu Dhabi, who announced 2017 as the Year of Giving. It represents a keen interest of the General Secretariat of the Executive Council to crystalise this initiative in line with the Abu Dhabi Government strategies for charitable causes. This is a tradition that we have inherited from the late Sheikh Zayed Al Nahyan and this has continued through our wise leadership.
She added: “The active involvement of the Abu Dhabi private sector for this initiative confirms its strong belief in the importance of social responsibility – one of the major cornerstones of this initiative announced earlier this year. The initiative aims to instill the value of serving our nation and encourage people to do more in helping the community.”
H.E. Mohamed Khalifa Al Mubarak, CEO of Aldar Properties, said: “When launching the Year of Giving, H.H. Sheikh Khalifa bin Zayed Al Nahyan declared the importance of strengthening social responsibility in the private sector, aimed at encouraging our role in serving the country and contributing to its development. As the leading real estate developer in Abu Dhabi, Aldar is proud to contribute to His Highness’ vision in partnership with the Urban Planning Council, and we thank the UPC for their leadership in this initiative.
“As part of our contribution to the ‘CSR Year of Giving Initiative’, Aldar will build seven mosques with a total value of 130 million AED across the Emirate of Abu Dhabi.”
Sufian Hasan Al Marzooqi, CEO of Tourism Development & Investment Company (TDIC), said: The Year of Giving initiative inspired us to partner with Feykum Al Khair, an initiative which highlights the Government and private sectors’ efforts to promote the spirit of giving. This partnership fits within both our culture and program of social responsibility as well as the current national emphasis on supporting economic growth through the development of sustainable communities.
“TDIC is keen to serve the public through participating and contributing to the success of social initiatives and activities in line with the objectives of the Year of Giving. Being part of Feykum Al Khair is in line with TDIC’s mission, while also supporting the nation’s humanitarian objectives.”
Mohamed Abdalla Al Zaabi, CEO of Miral Asset Management, said: “Following the humanitarian legacy of the late Sheikh Zayed bin Sultan Al Nahyan, and the vision of H.H. Sheikh Khalifa bin Zayed Al Nahyan, we are committed at Miral to continue supporting our local communities in line with the Year of Giving nation-wide initiative declared by our UAE President this year. This involves joining efforts with other developers and UPC to deliver on that promise and contribute to the progress and development of our people.”
Khalifa Yousif Khouri, Vice Chairman of Al Qudra Holding, said: “The participation of Al Qudra in the Year of Giving Initiative with the UPC came as a response to H.H. Sheikh Khalifa bin Zayed Al Nahyan – UAE President – to dedicate the 2017 Year of Giving in the spirit of generosity. As a national Emirati company, we have a social responsibility to contribute to the development of our nation.
He added: “In Al Qudra, we want to lead by example to instill the value of generosity among our peers in the hope that other individuals and companies follow suite. We strive to do our best for the benefit of our nation.”
Sameh Muhtadi, CEO of Bloom Holding, said: “We thank the UPC for launching this initiative, which promotes the culture of giving among both Government and private organisations to foster the cohesion of UAE society. At Bloom Holding, we are keen to collaborate with like-minded entities that seek to cater to the requirements of society and support initiatives that have a far-reaching impact on the lives of people around us.”
He added: “As a socially responsible organisation, Bloom is proud of its support for the ‘Feykum AlKhair’ initiative in line with our continued commitment to playing an effective role in the inclusive economic and social development of the UAE. We seek to achieve this goal through developing integrated and sustainable communities, that offer enriched lifestyles for all residents as well as building word-class educational institutions that offer high quality education focused on developing the generation of tomorrow.”
Nadir A. Al Hammadi, Chairman of Tamouh, said: “We are pleased to take part in Feykum Al Khair, Abu Dhabi Urban Planning Council’s Year of Giving initiative. Our pledge to contribute to our community comes from deep-rooted values that we share as developers and residents of the UAE. We are committed to take part in the development of our country in every way possible where our expertise allows.”
Today’s ceremony follows a brainstorming workshop held on April 10, in which the UPC discussed how the private sector can contribute to Abu Dhabi’s urban development and support the objectives of the ‘CSR Year of Giving Initiative’.
The campaign is the UPC’s principal CSR initiative this year and fulfils one of the key objectives of Year of Giving 2017, namely to offer private sector businesses the chance to help residents through sponsorship programmes, constructing community facilities, across Abu Dhabi.
Hamdah Al Shamsi, Research and Development Feasibility Manager and Chairman of the CSR Committee at the UPC, said: “Cityscape Abu Dhabi is the ideal event to establish this new partnership between the UPC and the UAE’s real estate sector – one that will have a significant positive impact on Abu Dhabi communities.
“With the agreement now signed, we are excited to enter the next phase of the initiative, in which we work with our partners on agreeing the specific details of each project before putting them into practice. We encourage the Abu Dhabi community to provide their feedback and suggestions in order to ensure we best fulfil the objectives of Year of Giving.”
The UAE’s President, H.H. Sheikh Khalifa bin Zayed Al Nahyan, declared 2017 as the Year of Giving to inspire people and organisations to make a positive difference to individual lives, society, and the nation as a whole.
The Abu Dhabi community is being encouraged to share their ideas and suggestions on the ‘CSR Year of Giving Initiative’ via social media channels using the hashtag #feykum_alkhair, which means ‘You Have Good in You’.