Oman Mega Projects On The Rise!

Like the rest of the GCC Oman is moving ahead strongly with Mega Project development. Currently Oman has over $100 Billion allocated for a wide variety of Mega Projects. In fact the Mega Project industry of Oman is expanding so fast that MEED(Middle East Economic Digest) is holding a large event October 28-30 in Oman at the Grand Hyatt Muscat called MEED Oman Projects Forum 2013. What follows is more information from MEED about the Forum and the Mega Projects being developed in Oman. Additionally I have included a chart of the top 40 Oman Mega Projects along with the amount of money (in US dollars) budgeted for each project.

A total of 50 speakers will address the event which will be attended by 200 delegates from the Sultanate, the Middle East region and the world beyond. The conference is supported by Oman’s Ministry of Commerce & Industry and will hear an opening address from His Excellency Ahmed bin Hassan Al Dheeb, Undersecretary, Ministry of Commerce & Industry.

Figures compiled by MEED Projects show 40 major projects are being executed or planned in the Sultanate. Of these, almost 25 percent are for major projects in the construction sector, which is dominated by plans to build a new town in Duqm. A similar amount of capital investment is planned in the transport sector. This includes the $15bn national rail program. Oil and gas projects combined account for almost $40bn of major projects being executed or planned in Oman.

Oman is already pushing ahead with many major projects. Around $40bn worth of them are under execution, though some of the larger ones are at an early stage of development. But the largest portion of the Omani major project program is yet to come to the market. More than $50bn of major projects are under design or study.

The pace of execution of the major program is expected to be swift. Some $56bn of major projects under execution or planned are due for completion by the end of 2017. All $112bn of projects are due for completion by the end of 2022, MEED Projects figures show.

The forum will hear a progress update about the Duqm port and special economic zone, which is Oman’s largest single Mega Project with budgeted investment of $20bn. Duqm is to be the location of a 250m barrel oil storage facility and a range of new industries.

“We’re delighted with the response to this year’s forum,” says MEED Events Chairman Edmund O’Sullivan. “The speakers are first-class and we are very grateful to the Minister of Economy HE Dr Ali Al Sunaidy and his colleagues for their wonderful support. This conference will set a new benchmark for everyone doing business in and with Oman.”

Oman Projects Forum 2013 is supported by the National Bank of Oman as strategic partner; Oman Development Bank as SME Financial Partner; Ernst &Young as Knowledge Partner and Hill International as conference sponsor.

TOP 40 OMAN MEGA PROJECTS UNDER EXECUTION OR PLANNED INCLUDING BUDGETS FOR EACH PROJECT:

Project and Project Budget (in $Millions)

1.  Duqm new town 20,000

2.  Oman national railway 15,600

3.  Duqm refinery & petrochemical complex 15,000

4.  Khazzan & Makarem fields 15,000

5.  Muscat & Salalah international airport expansion 5,200

6.  Gas-based steel plant 3,000

7.  The Wave development 3,000

8.  Batinah expressway 2,600

9.  Sohar Aluminium smelter expansion 2,400

10. Sohar refinery expansion project 2,300

11. Duqm IWPP 2,000

12. Haima Solar thermal hybrid power plant 2,000

13. Oman convention and exhibition centre 1,800

14. Masirah island causeway 1,500

15. Sur IPP 1,500

16. Sultan Qaboos medical city complex 1,480

17. Batinah coastal road project 1,312

18. Bidbid to Sur dual carriageway 1,156

19. Yibal Khuff sour development project 1,050

20. Development of Block 60 (Abu Butabul) 1,000

21. International medical city 1,000

22. Rabab-Harweel integrated project 1,000

23. Saraya Bandar Jissah Resort 1,000

24. Sohar iron ore pelletising plant expansion phase 2 1,000

25. Sohar PTA & PET plant 850

26. Dualization of Adam to Thumrait road 800

27. Sur steel plant phase 1 665

28. Nahayda-Ras Markaz terminal-Duqm refinery pipeline 600

29. Solar power plant (CSP) 600

30. Bodour NE Integratedsour oil and gas development project 500

31. Condensate recovery maximization 500

32. Main oil line true vapour pressure control project 500

33. Marmul enhanced oil recovery facilities phase 2 500

34. Marmul enhanced oil recovery facilities phase 3 500

35. Ras Markaz crude storage terminal 500

36. Rima fields Cluster 500

37. Salalah EDC and caustic soda facility 500

38. Sohar iron ore pelletising plant 500

39. Suwaiq IWP 500

40. Water Discus hotel Oman 500

For more information visit:
http://www.meedconferences.com/oman/

23 Marina, Dubai - World's Most Luxurious Residence?

23 Marina, located in Dubai Marina and developed by Hircon International, may well be the most luxurious residential tower in the entire world. Although my main focus is on the real estate developments of the Middle East I also closely follow real estate projects all over the world and I must say I have not seen any other residential tower anywhere in the world that rivals 23 Marina in over the top luxury.

23 Marina is huge. In fact it is one of the tallest residential towers in the world, the third tallest tower in Dubai and the seventeenth tallest tower overall worldwide. The luxury amenities in 23 Marina are beyond anything I have seen anywhere in the world and they include an astounding FIFTY SEVEN swimming pools, a private elevator and private pool for EACH duplex in the tower, a lobby entrance hall 6 storeys high and a total of 62 elevators in the building!

23 MARINA FAST FACTS:

> Official Name - 23 Marina
> Type - Residential Tower
> Status - Completed
> Country - United Arab Emirates
> City - Dubai
> Street Address - A-23-D, Plot No.392-568, Al Marsa, Dubai Marina
> Building Function - Residential
> Height - 392.8 meters / 1289 feet
> Floors Above Ground - 90
> Floors Below Ground - 4
> Number of Elevators - 62
> Top Elevator Speed - 8 m/s
> Structural Material - Concrete
> Start of Construction - 2006
> Completion - 2012
> Global Ranking - 17th Tallest Tower In The World
> Regional Ranking - 5th Tallest Tower In Middle East
> National Ranking - 3rd Tallest Tower In UAE
> City Ranking - 3rd Tallest Tower In Dubai
> Owner - Hircon International
> Developer - Hircon International
> Design Architects - Hafeez Contractor; KEO International Consultants
> Structural Engineer - KEO International Consultants
> MEP Engineer - KEO International Consultants
> Main Contractor - Dubai Civil Engineering
> Other Consultants - Mitsubishi Elevator and Escalator;  RWDI;  Dow Corning Corporation

FROM THE DEVELOPER:

23 Marina is a standing tribute of one country to another land. An ovation of recognition and respect. To the far-sighted vision that has transformed Dubai from a city of sand to a city of skyrises, making it a name that the world aspires to live in.

23 MARINA AMENITY LIST:

~ 57 Swimming Pools
~ 62 Elevators
~ 6 Storey Entrance Hall
~ Private Indoor Pool In Each Duplex Unit
~ Private Elevator For Each Duplex Unit
~ Indoor And Outdoor Swimming Pools
~ Children's Swimming Pool
~ 3 Levels of Spa & Health Club Facilities Including:
-- Men's And Women's Spas
-- Gym
-- Aerobics Rooms
-- Steam
-- Sauna
-- Indoor Swimming Pool
~ Landscaped Garden And Jogging Track
~ Business Center And Conference Room
~ 24 Hour Concierge
~ 24 Hour Convenience Store
~ Private Housekeeping Staff, Dry Cleaning And Laundry Services
~ Covered 8 Storey Car Parking With Private Access And Elevators
~ Valet Parking
~ Round-The-Clock Security System

++ With all of these features, if you lived at 23 Marina you might never want to leave! I think 23 Marina is destined to become an icon for Dubai living at its best. Dubai always strives to embody the pinnacle of excellence in all its Mega Projects and 23 Marina is the pinnacle of Dubai luxury living!

This link takes you to Hircon International, the developers of 23 Marina:
http://www.hircon-me.com/

Cayan Tower - A New Dubai Masterpiece

Dubai has just completed another architectural masterpiece to add to its ever expanding portfolio of amazing Mega Projects. Cayan Tower, located in Dubai Marina and developed by Cayan Real Estate Investment and Development Company, is the worlds tallest twisted tower. It stands 307 meters high and cost Dh1 billion to build. It is one of the most amazing towers I have ever seen!

President and Chairman of the Board of Cayan Group Ahmed M. Al Hatti described the project's quality standards saying: "Cayan Tower(formerly known as Infinity Tower) has been built according to the highest international standards for towers and that won it several international awards. The Tower has received 'Best Architecture' award in London's International Property Awards as well as four Arab Real Estate Awards in Dubai."

"The Tower was designed by Skidmore Owings and Merrill, otherwise known for projects such as Burj Khalifa in Dubai, Trump Tower in Chicago and Jin Mao in Shanghai. It is a 75-storey tower, rising at approximately 307 meters which makes it the highest twisted tower in the entire world," he added.

The project is characterized by its magnificent architecture, giving residents stunning panoramic views of the Palm Dubai  or Dubai Marina thanks to its 90 degree curve from top to bottom. In addition  construction and architectural plans have been put in place specifically for the development of the internal design which complements the exterior design of the tower.

> From Skidmore Owings Merrill:

'The Skidmore Owings & Merrill LLP (SOM)—designed Cayan (formerly Infinity) Tower in Dubai, United Arab Emirates, was inaugurated by its developer, Saudi Arabia-based Cayan Investment & Development. The dramatically rising helix of the 75-storey building provides a distinctive landmark on the city’s storied skyline. The 1,010-feet (307-meters) tall reinforced concrete structure rotates a hexagonal floor plate around a circular core—with the top offset 90 degrees from the base. The shift maximizes views for each of the 495 apartments. “The lower portion of the tower is oriented toward the exciting waterfront promenade of Dubai Marina, while the upper floors are rotated to face the Gulf,” SOM Design Director Ross Wimer says.

'“Cayan Tower adds to SOM's significant impact on Dubai's 21st century skyline,” SOM Consulting Partner George Efstathiou says. “Its elegance, technological innovation and sustainability are hallmarks of our storied 75 year history. It takes its place with our finest designs, including the nearby Rolex Tower and Burj Khalifa.”

'Deep concrete exterior columns clad in a metal skin with perforated screens help shield the building’s interior from the intense desert sun. The tower’s innovative shape required equally innovative engineering. The corner and interior columns twist as they ascend, but most of the perimeter columns have an identical shape and tilted relationship to the floor plate. They are simply shifted, a bit more than a single degree, from floor to floor—resulting in a standardized construction method typical to most concrete structures.

'Mechanical, electrical and plumbing systems are located in the core or within a zone between the central circulation corridor and the residential units, allowing straight vertical paths for these systems as the relationship between the apartments served varies between floors.

'The shape of the tower is not only aesthetically unique but it serves a structural function as well. Its twisted shape greatly reduces wind forces on the tower and “confuses the wind” in a way that wind forces cannot organize themselves.'

> Design and Amenities:

Each unit enjoys contemporary internationally styled interiors, marble and wood finishes, and premium fixtures and fittings. Every unit has fully fitted kitchens with appliances from such leading brands such as Bosch or Siemens, bedrooms with built-in wardrobes, as well as high-speed Internet facility and access to digital/satellite TV, state-of-the-art air conditioning, and a comprehensive automation system to control lights, air-conditioning and other functions from a central handset. The building has 7 elevators, for convenient access to each floor.

The building’s residential amenities include a fully landscaped podium with a rooftop park, outdoor infinity pool, whirlpool and children’s pool, located on the 7th floor. Other amenities include a health spa with treatment rooms, a gymnasium, conference rooms, a fully-equipped nursery, an outdoor tennis court and a fully enclosed parking garage with state-of-the-art security. At street level, there will be designated shopping and retail outlets for both residents and visitors.

Cayan Tower also provides 5-storey secure parking behind the building, as well as a 24-hour concierge and security.

++ Cayan Tower is a true Mega Project masterpiece. I think it will become a world landmark for incredible architecture!

Cayan Real Estate Investment and Development:
http://www.cayan.net/

Skidmore Owings Merrill:
https://www.som.com/

Libya Could Be Next Mega Project Hub - Libya Projects 2013

Libya is expected to invest $140 billion in projects over the next decade as the country embarks on building a sustainable future. Among these projects include Gecol’s capacity building programme in the power sector which will see installed capacity rise from about 13,000MW in 2012 to 19,000-20,000MW by 2020.

In aviation, the newly-installed government has planned a $2.5 billion upgrade of the state’s busiest airports aimed at expanding capacity to about 28 million passengers a year from an estimated 5 million.

The housing sector is another critical investment focus. The government estimates that the country will face a housing shortfall of 500,000 units by 2020. The Housing & Infrastructure Board (HIB) has been tasked to deliver 200,000 new homes, with supporting infrastructure in the next seven years.

A major business conference, Libya Projects 2013, is being organised in Tripoli to provide local and international stakeholders an essential guide to the developments and projects across critical infrastructure, energy, utilities and industry sectors that will accelerate rebuilding efforts in Libya.

“There is currently a dearth of accurate and reliable information on the opportunities in the projects market in Libya which the conference hopes to address. Attended by leading authorities and key stakeholders, Libya Projects 2013 offers the best opportunity for companies to correctly access Libya’s projects market,” said Edmund O’ Sullivan, Chairman, MEED Events, organisers of Libya Projects 2013 in cooperation with Business Mirror (BM) Libya, and supported by the General National Congress.

Under the patronage of the General National Council, Libya Projects 2013 will gather key government officials and entities as well as leading private sector companies who will provide an expert overview of the wide-ranging political and economic reforms currently being implemented in Libya and the impact of these initiatives on the projects sector.

Confirmed speakers include Juma Attiga, Vice President, General National Congress; Awad Elbarasi, Deputy Prime Minister, Libya; Ali Hussein Al- Sharif, Minister of Housing and Utilities; and Dr. Khalil El-Arroudi, Chairman, GECOL.

The conference, scheduled to take place on June 3-5, 2013 at the Corinthia Hotel in Tripoli, will also focus on the government’s programme to promote and attract foreign direct investments in Libya, as well as provide a critical update on existing and stalled projects.

At Libya Projects 2013, delegates can also expect to gain invaluable insights on the government’s anticipated spending plans in the infrastructure and energy sectors; as well as learn how to establish JVs with local firms to take advantage of massive opportunities in the projects market.

Libya Projects 2013 is being supported by such top tier companies as: Ernst & Young, Drake and Scull, Electrical Industries Co, Hill International, Keller, Jeddah Cables Company, Saint Gobain Glass, Libya Holdings, Shapoorji Pallonji , Dar Al Handash, Phillips, Corodex Industries, Parsons & Afriqiyah Airways.

Further information:
http://www.meedlibyaprojects.com/homepage.asp

The Headquarters Business Park, Jeddah, Saudi Arabia

Saudi Arabia is going through an incredible real estate boom! Mega Projects are being built all over The Kingdom. In fact Saudi Arabia has the largest Mega Project in the world under construction - King Abdullah Economic City, which I have written about in a previous post. Today I will cover The Headquarters Business Park.

LOCATION

The Headquarters Business Park is located on the north side of Jeddah in Saudi Arabia. Sitting directly on North Corniche Road it overlooks the Red Sea in all directions. On either side of it sits the Westin and Hilton Hotels, and it is also conveniently just 15 minutes from King Abdulaziz International Airport.

The building is made up of three main sections:

~ The West Tower

~ The Podium

~ The East Tower

WEST TOWER

Sky Villas:

The Headquarters Business Park contains 10 Sky Villas. Each has two floors and its own indoor garden. Each garden is about 8m high, and overlooks the Corniche.

Offices:

The Business Park has 250 flexible office spaces with floor plans that range from 1,270 square feet to 3,229 square feet. Each office unit comes with amazing views in either direction.

The Business Center:

The business center is the ultimate business destination for client meetings. It includes all the latest technology and equipment to ensure total connectivity.

The Smart Building:

This building has the most advanced technologies because The Business Park is one of the newest buildings in the region. Not just lightning fast connectivity but it is host to a number of the most advanced features:

> Smart parking systems

> Smart elevators

> Smart restaurants

> State-of-the-art security

> Maintenance and support

> Unified building and services billing system

> Public areas and owners union systems

EAST TOWER

The East Tower serves as a high standard hotel that is designed as an independent building but linked to the West Tower through the Roof Garden. The hotel adds to the Business Park’s features by offering a health club, a business center, and a variety of upscale restaurants that are designed to meet the lavish taste of the business people and their visitors.

PODIUM

The Podium contains 9 stories above ground and 2 stories of underground parking with close to 2,000 total parking spaces. The Podium also contains a health and fitness center.

ADDITIONAL FEATURES

Health and Fitness Center:

The health and fitness center is located on both the 6th and 7th floor in the Podium section of The Business Park. At over 12,916 square feet it boasts all the latest fitness equipment.

Restaurants and Cafes:

The Headquarters Business Park has 43,055 square feet of restaurant and cafe space that caters to any taste. The crown at the top is Sky at 52, the fine dining establishment on the 52nd floor that faces the Red Sea.

VIP Lounge:

The VIP Lounge is the ultimate business area. Sitting on the 1st floor it hosts all the technology and plush surroundings to get work done in style. The VIP Lounge features:

> Private entrance

> Dedicated reception and lobby area

> Smart elevators with specialized floor selection

> Reserved parking spots

> Complementary coffee, tea, and seating lounges

++ The Headquarters Business Park stands as a shining example of the evolution of the booming Saudi Arabian real estate development market and the expanding Saudi economy.

Middle East Real Estate Power Elite List 2013

In this post I am going to give you a list of the people I consider to be the most important in the Multi-Trillion dollar Middle East real estate industry. I have chosen 70 people to put on the list and all of them contribute greatly to the incredible expansion we are all seeing in Middle East real estate development. Middle East real estate is a truly gigantic industry and the people at the forefront are the movers and shakers, the leaders - The Power Elite!

MIDDLE EAST REAL ESTATE POWER ELITE LIST 2013

1. Mohamed Ali Alabaar, Chairman and CEO, Emaar, UAE

2. Yousef Al-Shelash, Chairman, Dar Al Arkan, Saudi Arabia

3. HH Sheikh Tahnoon Bin Zayed Al Nahyan, Chairman, Royal Group & Tourism Development and Investment Company, UAE

4. Abdulrahman Abdulqader Al Faqih, Chairman, Jabal Omar Development & Makkah Construction & Development Company, Saudi Arabia

5. Khalaf Al Habtoor, Chairman, Al Habtoor, UAE

6. Khadem Abdulla Al Qubaisi, Chairman, Arabtec Holding & Aabar Properties, UAE

7. Sami Asad, CEO, Aldar Properties, UAE

8. Mohammed Bin Ali Al Hedfa, Group CEO, Qatari Diar, Qatar

9. Bakr Bin Ladin, Chairman, Saudi BinLadin Group, Saudi Arabia

10. Hussain Sajwani, Chairman, DAMAC Properties, UAE

11. Sheikh Saad R. Hariri, Chairman, Saudi Oger, Saudi Arabia

12. Abubaker Seddiq Al Khouri, Managing Director, Sorouh Real Estate, UAE

13. Prince Alwaleed Bin Talal Al Saud, Chairman, Kingdom Holding, Saudi Arabia

14. Ali Rashid Lootah, Chairman, Nakheel, UAE

15. Said T. Khoury, Chairman, Consolidated Contractors Company, Greece & Middle East

16. Maher Merehbi, Chairman, Arabian Construction Company, Lebanon

17. Ahmad Suleiman Abdulaziz Al Rajhi, CEO, Al Arrab Contracting Company, Saudi Arabia

18. Mishal Kanoo, Deputy Chairman, Kanoo Group, Bahrain

19. Fahd Al Rasheed, CEO, King Abdullah Economic City, Saudi Arabia

20. Khaled Musaed Al Seif, Chairman, El Seif Engineering & Contracting, Saudi Arabia

21. Mehdi Amjad, Executive Chairman & CEO, Omniyat Properties, UAE

22. HE Hitmi bin Ali Al-Hitmi, Chairman, Barwa Real Estate, Qatar

23. Sheikh Thani Bin Abdullah Bin Thani Al-Thani, Chairman, Ezdan Real Estate, Qatar

24. Ahmed Alhatti, Chairman, Cayan Real Estate Investment and Development, UAE

25. Saleh Mohammed Bin Nasrah, Chairman, Eshraq Properties, UAE

26. Abdullah Ali Obaid Al Hamli, Chairman, Deyaar, UAE

27. Saeed Ahmed Saeed, CEO, Limitless, UAE

28. Khalid Bin Kalban, Chairman, Union Properties, UAE

29. Abdulla Ahmed Al Ghurair, Chairman, ETA Ascon, UAE

30. Abdullah Al Habbai, Chairman, Meraas Holding Group, UAE

31. Mohammad Hassan Omran, Chairman, RAK Properties, UAE

32. Nasser Chammaa, Chairman, Solidere, Lebanon

33. Tariq Bin Faisal Al Qassimi, Chairman, Enshaa Real Estate Development, UAE

34. Abdullah Mohammad Juma Al Naboodah, Chairman, Al Naboodah Construction, UAE

35. Issa M. Al Mohannadi, CEO, Msheireb Properties, Qatar

36. Rahail Aslam, CEO, Select Group, Dubai

37. Abdullah Mohammed Al Issa, Chairman, Saudi Construction Company, Saudi Arabia

38. Mohammed Abdulaziz Al-Shaya, Chairman & Managing Director, Mabanee, Kuwait

39. HRH Prince Salman Bin Abdul Aziz, Chairman, Arriyadh Development, Saudi Arabia

40. Abdul Fatah M. R. Marafie, Chairman & Managing Director, Al Tijaria, Kuwait

41. Ghazi Fahad Al Nafisi, Chairman & Managing Director, Salhiah Real Estate, Kuwait

42. Abdullah Nasser Sabah Al Ahmad Al Sabah, Chairman, United Real Estate Company, Kuwait

43. Rashid Fahad Al Naimi, Chairman, Mazaya Qatar Real Estate Development, Qatar

44. Jamil Sultan Al-Essa, Chairman, National Real Estate Company, Kuwait

45. Samir Barraj, General Director, First Saudi Contracting Company, Saudi Arabia

46. Athbi Salem Al Ali Al Sabah, Chairman, Al-Themar International Holding, Kuwait

47. Mohammed Jassim Al Marzouq, Chairman & CEO,Tamdeen Real Estate, Kuwait

48. Mohammed Abdullah Al Nassar, Founder & Managing Director, Kuwait Remal Real Estate, Kuwait

49. Khalifa Yousef Al-Roumi, Chairman, Kuwait Real Estate Company, Kuwait

50. Khaled Khudair Al-Mashaan, Chairman, Alargan International Real Estate, Kuwait

51. Rashid Yaqoub Al-Nafisi, Chairman, Al Mazaya Holding, Kuwait

52. Marzooq Rashed Al-Rashdan, Chairman, Abyaar Real Estate Development, Kuwait

53. Imad Abdullah Al-Thaqip, Chairman, Al Enmaa Real Estate, Kuwait

54. Sheikh Abdulla bin Khalifa Al Khalifa, Chairman, Seef Properties, Bahrain

55. Seraj S. Al-Baker, Chairman, First Dubai Real Estate Development, UAE

56. Mansour Hamad Al Mubarak, Chairman, Aayan Real Estate, Kuwait

57. Khalid Othman Abdul Wahab Al Othman, Chairman & Managing Director, Ajial Real Estate Entertainment, Kuwait

58. Adnan Yaqoub Bu Rahma, Chairman, Al Mudon International, Kuwait

59. Omar Bin Abdallah Al Kadi, Managing Director, Injaz, Saudi Arabia

60. Adnan Abdul Wahab Al Nusuf Nusuf, Chairman & Managing Director, Manazel Holding, Kuwait

61. Hamad Fawzy Aleisa, Chairman, Massaleh Real Estate, Kuwait

62. Samir Yaqoob Al Nafisi, Chairman, Inovest, Bahrain

63. Waleed Ahmad Al-Mannai, Chairman, Arkan Al-Kuwait Real Estate, Kuwait

64. Emad Jawad Bukhamseen, Chairman & Managing Director, Al Arabiya Real Estate, Kuwait

65. Sheikh Ali Abdullah Al Khalifah Al Sabah, Chairman, Tijara & Real Estate Investment, Kuwait

66. Yaser Abul Hasan, Chairman, Kuwait Business Town Real Estate, Kuwait

67. Mohammed A. Hayat, Chairman, Pearl Of Kuwait Real Estate, Kuwait

68. Sheikh Bader G. Al Zahrani, Chairman, Ishraqah, UAE

69. Hisham Ahmed Al Rayes, Chairman, Gulf Holding, Bahrain

70. Carlos Obeid, Chairman, Capitala, UAE

My DAMAC Properties Interview

DAMAC Properties is one of the leading real estate developers in the Middle East. Its real estate projects are some of the finest and most cutting edge I have ever seen and the company has great integrity. DAMAC Properties was established in 2002 as a private residential, leisure and commercial developer in Dubai and the rest of the Middle East. In this interview I conducted with Mr. Niall McLoughlin, Senior Vice President, DAMAC Properties, we will cover a full range of interesting topics.

BRETT SIEGEL: One of my favorite developments in Dubai International Financial Centre is DAMAC's Park Towers. How has Park Towers been doing since its completion?

MR. MCLOUGHLIN: Park Towers is one of the most iconic projects we have completed and stands proud in the heart of the Dubai International Financial Centre. As winner of the ‘Best Mixed-Use Development’ at the International Property Awards it is not only a symbol of luxury and quality in Dubai, but across the world. The two towers were completed almost a year ago now and we have been delighted by the response from the residents, who enjoy living in one of the most vibrant and thriving districts in Dubai. Each tower is 49 storeys high, and offers exquisitely designed one, two and three bedroom apartments.

BRETT SIEGEL: I am very enthused about all the development going on at Al Reem Island, Abu Dhabi. Give us some details about what DAMAC is doing on Al Reem Island.

MR. MCLOUGHLIN: DAMAC Properties has two projects on Al Reem Island. The first, Marina Bay, was completed at the end of September 2012. We are now in the process of handing over the 24-storey tower which has exquisite views of the canal that connects the entire development. It is a huge milestone for us as Marina Bay is our first completed project in Abu Dhabi.

We are also making good progress on Oceanscape, our second project on Al Reem Island. Oceanscape will occupy a prime position on the water's edge at Al Reem Island offering residents uninterrupted views of the sea. The development also includes exclusive sea-facing townhouses above the podium level and with retail space over three levels.

BRETT SIEGEL: DAMAC Properties' Ocean Heights Tower in Dubai Marina has to be one of the most beautiful residential towers in the world. What was the inspiration behind the development of Ocean Heights?

MR. MCLOUGHLIN: Ocean Heights, another project which is already completed, is one of our most sought after towers. Blessed with amazing views over the Palm Jumeirah on the entrance to Dubai Marina, the tower spirals skywards, creating a dramatically different view from every angle of the apartment. The inspiration was to bring the peaceful ambiance of the marina to the luxury living of the apartment.

BRETT SIEGEL: To say that Qatar is booming would be an understatement. What projects does DAMAC Properties have lined up for Qatar?

MR. MCLOUGHLIN: We are working on a number of highly anticipated projects in the Lusail district of Doha, Qatar. The Piazza is a large development of Italian-style low-residential and office developments, which are set to be completed as early as the middle of 2013. The four-storey developments will hand over next year in one of the most desirable areas in the Qatari capital.

Business Square, a 20-storey mixed use high-end luxury development is scheduled for 2014.

We have seen a strong uptake for all three of the mixed use developments under construction in the iconic Lusail City. Our projects in Qatar are dominating the enquiries coming in to our overseas offices; comfortably rising ten-fold since Qatar was selected to host the World Cup. Business Square, the Piazza One and Two are all progressing at a good pace and are already close to selling out.

BRETT SIEGEL: Saudi Arabia is rapidly going to the forefront of real estate development in the Middle East. How is DAMAC's Al Jawharah Tower in Jeddah progressing?

MR. MCLOUGHLIN: Al Jawharah in Jeddah is making great progress and is already becoming an iconic tower on the skyline overlooking the Red Sea. We have now passed the 32nd floor of the tower that will eventually stretch 48 floors into the sky. The project recently won the ‘Outstanding Development of the Year’ Award in the GCC from The Big Project and was also highly commended, for the second year in a row, at the International Property Awards in the Residential High-Rise Development’ category and ‘Best Interior Design’ category for the partnership with Versace Home.

Work was recently completed on the Versace Home designed dedicated lobby to the DAMAC Residences.

We are working closely with Versace Home to develop ‘The DAMAC Residences’, a distinguished interior design concept for the top ten floors of the project that will produce the most exclusive residential apartments in the Kingdom.

Apartments of one, two or three bedroom homes are expected to be delivered by the last quarter of 2013. The DAMAC Residences project, with its limited release Versace Home designed interiors, is anticipated to be completed by the second quarter of 2014.

BRETT SIEGEL: Tell us more about the Overseas Property Professionals Excellence Awards that DAMAC was given.

MR. MCLOUGHLIN: We were delighted receive the Developer of the Year Award for the Middle East at this year’s Overseas Property Professionals (OPP) Excellence Awards. The OPP Excellence Awards in London brought together 300 of the leading figures in the global property market from more than 20 different countries. The Best Developer in the Middle East award was selected by a panel of highly experienced judges from across the world.

BRETT SIEGEL: It’s good to see that real estate development in Dubai is once again on an upswing and the recent announcement of the Mohammed Bin Rashid City Mega Project is particularly upbeat. What is DAMAC's view of the future of the Dubai real estate industry?

MR. MCLOUGHLIN: Dubai’s property market will grow at a steadier and more stable pace over the next year. There will be solid investment opportunities. Independent reports have put the growth in prices of real estate in Dubai through 2012 at anywhere from 7-19 percent, depending on location and the quality of the project. In 2013 buyers will definitely be able to benefit from this capital growth, but will need to be smart about where they invest and in which projects in each area.

Location will remain key with projects in areas which already have solid infrastructure and these projects will continue to drive a premium, but there will also be great investment opportunities in the projects where infrastructure is just underway. As this completes these projects will grow in value significantly.

Overall there has not been a better time to invest in the Dubai real estate market in the past four years. The increases in business and tourism coming to Dubai will make it one of the most lucrative real estate markets in the world in 2013.

BRETT SIEGEL: Tell us about some exciting new projects in the DAMAC pipeline.

MR. MCLOUGHLIN: We currently have 65 buildings at various stages of progress across the Middle East and North Africa, so there is a great deal of development underway.

Some of the projects that are coming online next year in the Hotel Serviced Apartments sector are highly anticipated. Burjside Boulevard, in the Burj Area of Dubai, will be our first luxury serviced apartment offering and providing five-star concierge services throughout – offering some of the highest luxury we have ever brought to the market.

We think serviced apartments will prove very popular as this is currently an under-served sector in Dubai. Owners will be able to enjoy their property and the services that go with it, or if they are away for any period of time, we will add it to our rental pool and manage the whole process of finding tenants and collecting rent. It is the most flexible investment opportunity we have offered.

BRETT SIEGEL: Thank you for this interview Mr. McLoughlin and I know DAMAC Properties will continue to develop superlative real estate projects throughout the Middle East!

Contact:

DAMAC Properties Co. LLC
P.O Box 2195
Dubai, UAE
Tel: +971 4 373 1000
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My Interview With Mr. Tareq Abu-Sukheila, Managing Director, Gensler Abu Dhabi

I am very happy to be able to interview Mr. Tareq Abu-Sukheila the Managing Director of Gensler Abu Dhabi. Gensler is one of the largest and finest architecture and design firms in the world with over 3,500 professionals located in 42 offices on five continents. Gensler has a strong presence in the Middle East and works with a range of private developers and government organizations. In this interview we cover Gensler's role in the new National Bank Of Abu Dhabi Global Head Office development as well as Gensler's role in and view of the entire region.

BRETT SIEGEL: Hello Mr. Abu-Sukheila could you please give UAE Mega Projects readers a summary of the new National Bank Of Abu Dhabi(NBAD) Global Head Office project?

MR. ABU-SUKHEILA: The new National Bank Of Abu Dhabi’s Global Head Office will be a landmark building strategically located on a key site of Al Maryah Island. The building will be 67,300 square meters, 31-floors, and will face both the waterfront and a main access road. The building will primarily accommodate commercial office space while incorporating multiple functions, including hub bank, tower lobbies, trading floors, auditorium, conferencing center and a cafeteria.

The crisp and contemporary design is based on understanding the client’s aspirations, of creating a global headquarters that exemplifies strong commercial and corporate identity. Our designers gave special consideration to presenting an outstanding building that carries an unmistakable presence and dignity, while ensuring a highly functional and efficient interior.

BRETT SIEGEL: Exactly what will Gensler's role be throughout the construction of the project?

MR. ABU-SUKHEILA: Gensler is providing full design and supervision consultancy services including architecture, interior design, landscape design, engineering and site supervision services.

BRETT SIEGEL: Why was Al Maryah Island chosen as the location for the new NBAD Global Head Office?

MR. ABU-SUKHEILA: Al Maryah Island was chosen because it will be the core of Abu Dhabi’s new Central Business District as designated by the Urban Planning Council in its visionary Plan Abu Dhabi 2030. In following with UPC’s vision, NBAD’s new head office was designed to be a distinctive building with a strong presence, sculpted around the island’s master plan.

BRETT SIEGEL: Tell us about some of the unique features of the new NBAD Global Head Office.

MR. ABU-SUKHEILA: Gensler’s design team created a timeless modern structure with a unique form and sleek silhouette that will enhance Al Maryah’s skyline. The building is designed around a symmetrical central core that displays a clear axial relationship between the waterfront and main vehicular road. The overall massing is split into two thin towers emphasizing verticality and slenderness.

A key driver of the design concept was to compose a facade to reflect the presence of a well-established bank, within the context of contemporary society. To accomplish this, Gensler designers “veiled” the building with an arrangement of vertical fins that are used to extenuate the towers, while simultaneously creating a dynamic exterior that responds to the environment due to the varied fin rotations. During the day the fins modulate light and provide solar protection, in the evening they provide the illusion of a streaming glow, which creates the aesthetic perception of authority in a simple straightforward manner.

BRETT SIEGEL: What role do you see Gensler playing in the tremendous amount of real estate development we see going on in the Middle East?

MR. ABU-SUKHEILA: Overall, the UAE has proven to be a solid location for continued growth. Due to the plethora of projects over the past several years, clients have begun to become more educated and are beginning to demand higher quality from their projects. This has begun and will continue to provide new opportunities for the consultants in the region.

Gensler has experienced this first hand, as we have begun to gain more traction across the GCC over the past several years. Having a local presence has paid off as the firm has gained the trust and credibility of strategic developers mostly attributed to the gradual build-up in the Abu Dhabi office capacity to take on more work from the GCC. As we look toward the future, we are excited to be part of this uniquely positioned emerging market.

BRETT SIEGEL: What is Gensler's view of the future of the UAE as a world leader in cutting edge real estate development?

MR. ABU-SUKHEILA: Since the financial crisis of 2009 there has been continued growth in the UAE economy primarily due to favorable oil prices and substantial public expenditure. In addition, governmental subsidization across all sectors, and re-organization of several of the largest semi-public real estate development firms, assisted in maintaining steady growth amidst pricing pressure in all Emirates of the UAE. This translates into a slow and steady investment into real estate and development projects across the GCC.

With this incline we continue to see the UAE committed to the development of quality real estate projects that support the remaining needs of both business’ and residents across the Emirates. Standards are set very high and will naturally position the UAE as a leader in progressive and strategic real estate development.

BRETT SIEGEL: Could you tell us about other key Gensler projects in the Middle East?

MR. ABU-SUKHEILA: Gensler is currently involved in several key projects in the GCC, just to name some of these projects: The Avenues Mall in Kuwait; Wafra Seef F&B in Mahboula, Kuwait; Musheireb Heart of Doha, Qatar; World Trade Center KAFD, Riyadh, KSA; Wafra Real Estate Corporate Offices, Kuwait City; Al Ghurair Investment Group Corporate Offices in Dubai, UAE and Bloom Central Marriott Hotel in Abu Dhabi, UAE.

BRETT SIEGEL: Thank you for this interview Mr. Abu-Sukheila and we look forward to the growth and expansion of Gensler in the Middle East.

Contact:

Gensler Abu Dhabi
Al Buteen Tower C6, Office C503
Binunah Street No. 34
PO Box 26967
Abu Dhabi
United Arab Emirates
Tel: +971 (0)2 635 9100
Fax: +971 (0)2 635 9186
http://m.gensler.com/location/abu-dhabi