The real estate market in Sharjah continues to grow, achieving a trading value of US $1.1bn in prime areas of the emirate during July 2024. The latest figures were released by the ‘Real Estate Market Performance Report’ issued by the Sharjah Real Estate Registration Department (SRERD).

The total number of transactions reached 4,146, while the total area traded reached 13.8m sqft during the same period.

Sharjah’s market increasingly attracts local, Arab, and foreign investors, offering benefits such as multiple investment options, strong infrastructure, and a transparent regulatory framework. Additionally, there are many new real estate projects across the public and private sectors, driven by an increase in population and a growth in the number of international investors.

In July 2024, there were 385 mortgage transactions, representing 9.3% of the total real estate transactions, with a total value of US $381mn.

The sales transactions were registered across 119 areas of the emirate, with the mix including residential, commercial, industrial, and agricultural sectors. The total sales transactions in Sharjah City amounted to 1,304, with Muwaileh Commercial area recording the highest number, at 351. Muwaileh Commercial area also had the highest trading value at $68.3mn.

In the Central Region, the sales transactions reached 110, most of which were concentrated in Al-Qasimia City with 77 transactions, with a trading value of $15mn.

Meanwhile, KhorFakkan, recorded 26 sales, with Hay Al-Harai Industrial Area ranked the highest in terms of sales transactions with seven sales, while Hayawa 4 was the highest area in terms of trading value, at $816,000.

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CBRE Middle East has appointed Matthew Green as the new Head of Research in the MENA region. Green is said to bring a wealth of experience to his new role.

Green is said to have led research and advisory departments for global real estate consultancies and property developers. Commenting on his appointment, he states, “I’m very excited to return to CBRE to lead the MENA research function, and I look forward to further growing our capability and coverage, building on the fantastic foundation set by the team, as we continue to support our regional client base in achieving their real estate objectives.”

Anshuman Magazine, Chairman & CEO for India, Southeast Asia, Middle East and Africa comments, “We are delighted to welcome Matthew back to our team. A highly regarded leader in the real estate industry, Matthew brings with him a distinguished career marked by exceptional research and analysis. His proven track record of delivering high-quality insights will be an asset to CBRE and clients alike. Matthew’s deep industry knowledge will significantly enhance our research capabilities and offerings.”

Michael Young, Managing Director for CBRE in the MENA region adds, “Mat’s return to CBRE is perfectly timed to support our rapid expansion across the Middle East. His extensive experience and intellect will provide exceptional advice and solutions to our clients, whilst supporting the strategic growth of our advisory business.”

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The Al Habtoor Group has announced significant construction progress at its Al Habtoor Tower project. Under the leadership of Khalaf Ahmad Al Habtoor, Founding Chairman of Al Habtoor Group, the development is said to have achieved significant milestones that are setting new standards in architectural design and construction excellence.

Within its first year, the Al Habtoor Tower has achieved notable benchmarks in construction – the project boasts a six-day floor cycle time for construction above ground, showcasing the rapid pace and efficiency maintained despite the complex structural demands.

The project has achieved 33% completion and has accumulated over 2.5m working hours without any accidents, over 2,000 workers are managed by top German and Chinese construction firms using the latest construction techniques. International engineering powerhouses, including Imperial College London, Structural San Francisco, and SETEC France, have peer-reviewed the structural designs, ensuring that every aspect of Al Habtoor Tower meets global standards, the firm said in its statement.

“Al Habtoor Tower is not just a building; it represents the capabilities and innovation at the core of Dubai’s construction industry. We are setting a global benchmark for others to follow, emphasising our commitment to sustainability and cutting-edge engineering,” stated Habtoor.

He added, “Reaching 33% completion within just one year of construction is a momentous achievement that underscores the project’s groundbreaking architectural features and innovative construction techniques used in its development.”

Al Habtoor Tower is said to incorporate innovative construction techniques that are global firsts. This approach significantly reduces carbon emissions and speeds up the construction process, aiming for LEED Platinum Certification. The tower will be serviced by the world’s fastest vertical transportation with 24 high-speed elevators traveling at seven metres per second.

“Our legacy is built on trust and an unwavering commitment to excellence. With Al Habtoor Tower, we offer more than homes; we are creating a legacy of luxury, innovation, and sustainability, redefining what luxury living should be,” stated Mohammed Al Habtoor, Vice Chairman and CEO.

The Al Habtoor Group’s dedication to environmental stewardship employs a top-down method, and the project adheres to green building principles and sets new standards for sustainable urban development. With Al Habtoor Tower, the group reaffirms its leadership in the real estate development industry, continually pushing the boundaries of high-rise development. This project is not only an addition to Dubai’s world-renowned skyline but also a testament to the city’s dynamic and innovative spirit, the statement concluded.

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EWEC (Emirates Water and Electricity Company) has announced registrations are open for its Q3 2024 auction for Clean Energy Certificates (CECs) in Abu Dhabi. The auction is scheduled to close on 13 September 2024.

CEC enables Abu Dhabi-based firms to decarbonise their energy consumption and reduce Scope 2 emissions. They empower organisations to track and verify progress made towards achieving their environmental goals by certifying that the electricity consumed originates from a renewable or clean energy source, said a statement from EWEC.

As a part of its mission to drive decarbonisation and diversify the UAE’s energy mix, EWEC has introduced wind-based CECs. These utilise power generated from the UAE’s first utility-scale wind programme, secured after EWEC signed a power purchase agreement in Q4 2023 with Abu Dhabi Future Energy Company PJSC – Masdar.

The introduction of wind CECs enables EWEC to supply organisations with electricity generated from multiple renewable and clean energy sources, further accelerating the UAE’s energy transition and decarbonising Abu Dhabi’s key economic sectors, including energy, industry, real estate, healthcare, sports, and events.

Othman Al Ali, Chief Executive Officer of EWEC said, “EWEC is at the forefront of accelerating Abu Dhabi’s clean energy transition through, in part, our quarterly Clean Energy Certificate auctions. The broad participation in these auctions highlights the growing efforts of entities to reduce their carbon emissions and combat climate change in alignment with the UAE Net Zero by 2050 Strategic Initiative. By incorporating wind energy CECs into our auctions, we have expanded the range of renewable and clean energy CECs available, empowering organisations to meet their sustainability targets using electricity from a variety of sources. We call on all businesses and organisations to participate in the upcoming auction and contribute to a sustainable, innovative future for the UAE.”

Issued by the Abu Dhabi Department of Energy in units of one megawatt-hour (MWh) each, CEC certifies that the electricity consumed by the redeeming Abu Dhabi-based entity originates from a renewable or clean energy source.

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Emrill has made significant progress in its continuous improvement journey, launching initiatives that have not only transformed the organisation’s internal processes but also significantly benefited its clients through enhanced service delivery, efficiency and innovation, it has announced.

Over 22 years, the firm says it has prioritised continuous improvement as a core value. It primarily employs Lean Six Sigma methodologies to address challenges and drive improvements, enabling it to develop problem-solving culture and enhance the capabilities of its workforce.

Emrill’s continuous improvement initiatives have yielded several achievements; 50% of the eligible workforce is trained in identifying problems and opportunities and problem-solving skills. The firm has a target to increase this to 90% of employees by 2024. The organisation said it receives at least ten process improvement suggestions from employees each month, fostering a culture of innovation and continuous enhancement.

By leveraging robotic process automation (RPA), business intelligence tools, and real-time dashboards, Emrill has eliminated manual tasks, enhanced data visualisation, and improved decision-making processes. Since January 2023, Emrill has completed 20 improvement projects and 20 Kaizen events, with a target of at least five improvement projects per year. These initiatives have resulted in efficiency improvements ranging from 20 to 40%.

Stuart Harrison, CEO of Emrill commented, “Our continuous improvement initiatives are at the heart of Emrill’s strategy to deliver world-class service quality and innovation. By investing in our people and processes, we ensure we stay ahead of industry standards and consistently exceed our clients’ expectations.”

Emrill’s continuous improvement efforts have significantly impacted customer satisfaction through improved service quality, efficient service delivery, and innovative solutions tailored to meet clients’ evolving needs and expectations. Every improvement project is rigorously evaluated against targets to ensure effectiveness and benefits for both the business and its clients. Through active participation in idea generation, problem-solving workshops, and feedback loops, employees have contributed to enhanced processes and services. The company celebrates its employees’ success stories, highlighting their critical role in driving continuous improvement, the firm stated.

Vinod Azir, Continuous Improvement Manager added, “The engagement and dedication of Emrill’s employees have been instrumental in driving our continuous improvement efforts. Their active participation in problem-solving and process enhancement has led to tangible benefits for both our business and our clients.”

Looking ahead, Emrill aims to engage 90% of eligible staff in effective tools and methods for problem-solving and continuous improvement. The organisation plans to benchmark and upgrade processes, aligning with cutting-edge technology and best practices to enhance efficiency. Emrill will prioritise digitalisation and process automation using RPA and analytics-based efficiency improvement projects.

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Saudi Arabia’s National Water Company (NWC) has announced that its Southern Cluster has completed work on the second phase of the drinking water network project. The project is located in the city of Najran, Shroura governorate.

The water network aims to increase coverage and provide water to more than 106,000 customers in the 11 districts of Najran city.

NWC explained that Phase Two of the project covers the implementation and completion of water networks and pipes of various diameters, running to more than 319,000m. The network caters to the districts of Al Shurafa, Al Hadan, Al Jarbah, Taslal and Al Maashalia in Najran city, and the districts of Meshaal (A), Meshaal (B), Al Nuzha, Al Rawda, Al Akhashim and Al Fahad in Shroura governorate.

A company spokesperson explained, “NWC remains committed to achieving its strategic objectives to boost operational efficiency, provide the best services to customers and strengthen its infrastructure in all regions of the kingdom. This is done by increasing the coverage rates of the services that NWC offers to its customers, exemplified by the current completion of Phase Two.”

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Central Park Towers, DIFC has expanded its offering with the launch of new offices on Level 31. A statement noted that the move is in response to the region’s booming commercial real estate market.

Dubai’s Q1 2024 commercial real estate report by the Dubai Land Department (DLD) showcased an 8% increase in office space transactions compared to Q1 2023. This growth underscores Dubai’s position as a leading business hub, prompting Central Park Towers, DIFC expansion, said the statement.

“We’re witnessing a surge in demand for premium office space. Established firms are upgrading or expanding, while new businesses are setting up in Dubai. The city’s dynamic environment, strategic location, and diverse opportunities make it a haven for entrepreneurs and investors. Our new furnished level caters directly to these needs and more,” says Nemo Stojanovic, Director of Leasing and Marketing at Central Park Towers, DIFC.

Level 31 offers 14 fully furnished office units, ranging from 1,000 to 1,700sqft. Designed for modern businesses, the level boasts dedicated meeting rooms and an inspiring outdoor terrace.

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LWK + PARTNERS has promoted Beth Bertiz to the position of MENA Operations Director. In addition, the firm also announced investments in Saudi talent, and has welcomed its first Saudi architect, Faris Alkhaldi.

With over 25 years of experience in the architecture and design industry, Bertiz will oversee all operations and drive the delivery of innovative and sustainable architectural solutions, serving clients in the region and ensuring service and quality in projects, the firm said in a statement.

“We are delighted to have Beth step into this pivotal role,” said Kerem Cengiz, MENA Managing Director, LWK + PARTNERS. “Her expertise and leadership skills make her the ideal candidate to lead our MENA operations from the Kingdom as we continue to expand our presence and impact in the region. We are confident that under her leadership, our studios will reach new heights.”

Alkhaldi is said to bring a fresh perspective and deep understanding of the local culture and architectural landscape, further strengthening our commitment to nurturing and developing local expertise.

“Investing in local talent is a core Dart of our strategy in Saudi Arabia. We believe in local talent, and we are committed to providing opportunities for growth and development. Faris Alkhaldi’s addition to our team marks an important milestone in our journey,” noted Ivan Fu, CEO.

The move whilst Saudi Arabia is strengthening its trade relations with China, the increased cooperation between Saudi Arabia and China is expected to bring new opportunities for growth and development in various sectors, including architecture and urban development.

LWK + PARTNERS said it is contributing to Saudi Vision 2030 by fostering local talent and delivering architectural projects. Focusing on sustainability, innovation, and cultural sensitivity ensuring to create spaces that are not only functional but also enriching and transformative, the statement noted.

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Developer MERED has acquired a waterfront plot in Al Reem Island, Abu Dhabi. The newly acquired plot spans 11,890sqm and is located on Al Reem Island; the island is said to have emerged as one of the top spots for premium apartments, with investor confidence soaring in H1 of 2024, according to Bayut.

The development is the first waterfront project for MERED and will offer a combination of residential and commercial spaces featuring innovative design and modern architecture that aligns with the company’s vision. The location, currently under development, will offer infrastructure, connectivity and amenities, making it a attractive investment opportunity. The project will offer 310 luxury apartments.

“Abu Dhabi’s real estate market has sustained its strong 2023 performance into 2024, with increasing confidence among local and international high-net-worth individuals and record-high foreign direct investments. With a 6% price appreciation for luxury residential apartments in the city in the first half of the year, this is the perfect time to begin the development of our exclusive project on Al Reem Island. Inspired by the success of our ICONIC Tower in Dubai, we are excited to bring the same quality, innovation, and sustainable development to Abu Dhabi. Our acquisition of this prime waterfront plot aligns with our vision to redefine real estate with timeless masterpieces that enhance cityscapes and enrich residents’ lifestyles,” said Diana Nilipovscaia, CEO at MERED.

The project’s location ensures direct access to Abu Dhabi’s key attractions and transport hubs, it is five minutes from Reem Central Park and 10 minutes from the city’s major thoroughfare Sheikh Zayed Bin Sultan Road. Residents are 15 minutes from the Galleria Mall and cultural landmarks like the Louvre and Saadiyat Marina and International airport is 30 minutes away, said a statement.

MERED said it has also begun with the construction of the ICONIC Tower, which is set to be the tallest in Dubai Internet City at 286.4m. Multiple partners have been brought on board to create the tower including global architectural design firm Pininfarina and Hirsch Bedner Associates (HBA) for interior design, among many others.

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JLL and Mashreq have partnered to advance the latter’s Net Zero goals for its global headquarters. The Mashreq Global Headquarters in Downtown Dubai was awarded the LEED Zero Carbon certification from the US Green Building Council for achieving Net Zero carbon emissions and prioritising energy efficiency through sustainable design and operations.

Based on its performance metrics of the past 12 months, the building’s Net Zero carbon status was realised through carbon emissions avoided or offset from the building’s annual operational energy and occupant transportation over a year, leading to a carbon dioxide equivalent (CO2e) balance of zero for the bank’s global HQ during the assessed period.

Darren Denikiewicz, Head of Engineering & Energy, Project & Development Services UAE at JLL, said: “Having earned multiple LEED Zero certifications, Mashreq’s Global Headquarters is a model of environmental stewardship and reinforces the bank’s position as a sustainability champion in the UAE and the wider MENA region. Harnessing the potential of leading renewable energy technologies and innovations in design integration. JLL is working with Mashreq to fulfill its Net Zero goals and position it for long-term success through a compelling carbon emissions reduction strategy. As the social impact of green buildings becomes evident, we look forward to seeing more projects achieving LEED Zero certifications and making Net Zero goals a reality in the region.”

Bassem Fekry Farid, Executive Vice President, Head of Corporate Real Estate & Administration at Mashreq added, “Achieving the prestigious LEED Zero Carbon certification for our Global Headquarters is a testament to the significant strides that Mashreq has made in meeting global sustainability standards as we move towards a low-energy, reduced carbon footprint future. The transparent tracking of energy use and reliance on renewables aligns with the UAE’s ambitious Net Zero by 2050 agenda. Through our partnership with JLL’s energy and engineering services, we remain committed to fulfilling our carbon neutrality goals and scaling our impact to assure an enhanced quality of life for our employees, tenants, and the wider community.”

Leveraging JLL’s expertise in sustainability services, Mashreq Global HQ has committed to offset its carbon emissions for three years until 2027. To realise this ambitious goal, Mashreq has purchased Renewable Energy certificates that are Green-e Energy certified and are equivalent to the electricity consumed. Mashreq has also purchased Green-e Climate certified carbon offsets, equivalent to non-electricity emissions from chilled water consumption and transportation, the statement noted.

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Source: ME Construction News