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October 29, 2024 foasummit0

Majid Al Futtaim in collaboration with Parkin plans to introduce barrier-less parking at three of its most popular malls; Mall of the Emirates, City Centre Deira and City Centre Mirdif. The move will transform the parking experience in those malls, the firm said.

Set for launch by January 2025, the new system is expected to ease the journey for more than 20m cars annually across the three malls, transforming the way customers use parking spaces at Majid Al Futtaim’s top shopping destinations.

“At Majid Al Futtaim, we are constantly seeking innovative ways to enhance the customer experience at every touchpoint. Our partnership with Parkin demonstrates our commitment to offering advanced solutions that simplify the parking process while addressing common visitor challenges. Whether it’s the convenience of barrier-free entry of the ease of electronic payment, this technology will provide millions of our customers with a seamless parking experience each year, and will be one of the many smart solutions that we will introduce at our malls,” said Khalifa Bin Braik, Chief Executive Officer, Majid Al Futtaim Asset Management.

“This strategically important new agreement with a leading mall operator complements our existing operations and underscores our ongoing commitment to continued growth. Our smart systems will reduce congestion and enable smooth traffic flow, enhancing the overall customer experience at some of the busiest and well-known retail properties in Dubai. As the clear market leader in parking operations, management and technology, we will continue to leverage our unique capabilities and know-how to pursue further attractive partnership opportunities in this growing sector,” noted Eng. Mohamed Abdulla Al Ali, CEO of Parkin Company.

Shoppers arriving at Mall of the Emirates, City Centre Deira and City Centre Mirdif will no longer have to pause for a ticket at the parking barrier. Instead, as they drive in and out, the licence plate recognition technology will automatically track cars. If there is a parking fee to be paid, the driver will be sent an SMS alert with a payment link to pay the charges immediately through a web-based platform. Customers also have the choice to link their account with the Parkin’s wallet, adding to the overall convenience, the firm said.

The technology is expected to drastically reduce queues, particularly during peak hours, and eliminate delays caused by lost tickets or unpaid parking fees. Drivers will be able to enter and exit parking facilities in seconds, ensuring a more efficient and stress-free experience, it added.

The barrier-less parking solution is only the beginning of the digital transformation of Majid Al Futtaim’s parking services. The integration of additional digital features to enhance customer experience is also in the offering.

“This launch represents a major achievement in our efforts to create a digitally integrated and customer-centric shopping experience. We are committed to ensuring that our parking solutions evolve with the changing needs of our customers, without adding extra burdens. By keeping our current rates while offering a faster, more efficient, and seamless parking experience, we offer our mall visitors greater peace of mind,” said Bin Braik.

The introduction of barrier-less parking marks a milestone in Majid Al Futtaim’s ongoing mission to enhance the customer experience through innovation and unparalleled convenience. Cars will no longer need to stop upon entering or exiting the mall car parks, as advanced cameras will automatically capture the vehicle’s license plate, resulting in smoother traffic flow, the statement concluded.

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Source: ME Construction News


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October 28, 2024 foasummit0

Since the launch of Saudi Arabia’s giga projects, the Kingdom has emerged as a key driver in the construction sector in the Middle East. In fact, 39% of the MENA project pipeline is in KSA, with activity forecast to experience 4% growth each year between 2024 and 2027.According to the Saudi Contractors Authority (SCA), the building and construction sector contributes 6% to GDP, making it the second-largest non-oil sector in the country.

While it presents unprecedented economic opportunities for KSA and the region, the high concentration of multiple colossal developments, at various design and development stages, has strained the construction activities of the nation and neighbouring countries. This includes mature markets like the UAE, where the demand for talent and staff retention has intensified, and supply chain pressures have increased. As a result, businesses must rethink their operating models and project delivery approach to remain competitive.

Talent

Staff retention in the UAE has become a major challenge, due to the highly competitive salaries, benefits, and compensation packages offered to attract talent to Riyadh. According to the Ministry of Finance’s 2024 budget statement, the Kingdom has created 1.12m jobs in the private sector.

In the past, working in KSA was more niche: it traditionally attracted young, single individuals who were willing to earn a higher salary and gain experience working on some of the world’s most ambitious and exciting projects. However, with the rapid modernisation and social changes in recent years, cities like Riyadh and Jeddah are becoming more attractive to expats, with shopping malls, restaurants, parks, sports facilities, and recreational amenities; they are attracting an increasing volume of talented and experienced individuals, who now feel happy to relocate their families.

Developers and contractors in Saudi are also placing increased pressure on staff to live in the Kingdom, thereby reducing the opportunities for staff to base themselves in the UAE and commute to KSA on a ‘fly in, fly out’ basis.

The increased attraction from KSA is creating challenges around the retention of key staff, as well as inflating salary levels in Dubai and Abu Dhabi. Companies need a new approach to talent acquisition, rewards and performance to retain their business advantage. For years, companies in the region have been vying for the same limited pool of qualified professionals. However, in the Middle East, there exists an incredibly diverse population in terms of nationality, race, ethnicity, age, and experience, which represents a significant untapped talent pool. Unfortunately, this potential is often overlooked due to gender, racial or age stereotyping, stemming from ingrained cultural norms and societal expectations.

Moreover, implementing transparency and merit-based compensation packages and fostering an inclusive work environment that prioritises employee satisfaction can significantly contribute to talent retention. Companies can make investments in training and development to upskill their workforce and enhance employee engagement.

Supply Chain Pressures

Pressure on the global supply chain has been an issue since the pandemic and has been prolonged by recent cross-border conflicts. As a result, there have been delays caused by the closure of trade routes, a surge in demand for locally sourced products, and escalating prices.

The increasing demand for construction materials for Saudi’s giga-projects has intensified competition, raised prices, and extended project timelines in the UAE. These challenges, coupled with ambitious project schedules across the region, have led to resource scarcity and rationing.

However, it is important to note that this situation is likely temporary, and efforts are being made to streamline the supply of locally sourced materials within Saudi Arabia through prefabrication and modular construction. In the meantime, many materials initially allocated for the UAE are being redirected to the larger projects in Saudi Arabia.

To reduce the impact of supply chain disruptions, companies must get around what’s traditionally been their way of approaching supply chain and manufacturing. Apart from diversifying suppliers and developing contingency plans, technology adoption can provide insights to anticipate and mitigate disruptions.

Consider repurposing or recycling existing and surplus construction materials to reduce the strain on natural resources and decrease the industry’s reliance on raw materials procurement, while simultaneously fostering a more eco-friendly and resilient sector.

Rather than disposing of used or excess materials in landfills, the establishment of green building material exchanges enables companies to engage in buying, selling, or donating these materials. This approach not only extends the lifespan of materials but also promotes the circular economy. By embracing these practices, the industry can also make significant strides towards a more sustainable future.

Human-centric Developments

The implications of these cost increases in the sector resulting from an increase in labour and material costs presents a unique opportunity for innovation and differentiation. Developers are staying ahead by integrating cost-saving measures and sustainable practices into their projects to attract a new segment of investors and buyers.

This includes repurposing ageing or underperforming buildings and focusing on creating sustainable, inclusive communities with a focus on wellness.

By reusing existing structures, developers can preserve architectural heritage and reduce reliance on new construction, benefiting both the environment and their bottom line, while increasing speed to market.

Additionally, community developments prioritise connectivity, featuring walkable neighbourhoods that promote social interaction and provide easy access to amenities. These developments are designed to cater to changing lifestyle preferences and are expected to have high demand and long-term sustainability.

While Saudi Arabia is expected to maintain its influence on the region’s construction activities, the UAE market remains immensely appealing to real estate investors and individuals choosing the UAE as their permanent residence. Accodring to JLL’s UAE Construction Market Intelligence Q1 2024 report, the UAE stands out with a high-value pipeline of $590bn in the Middle East and North Africa’s projects market, with residential projects accounting for $125bn (21%), and mixed-use projects representing $232bn (39%).

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Source: ME Construction News


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October 28, 2024 foasummit0

IVECO, in partnership with Saeed Mohammed Al Ghandi & Sons (SMAG), has inaugurated a new facility in Dubai Industrial City, significantly expanding its service capabilities and product offerings for UAE customers.

The new premises include a fully air-conditioned workshop, an extensive parts sales and warehouse facility, and an IVECO Certified Pre-Owned sales center, enhancing IVECO’s service and support for commercial fleets in the UAE.

During the grand opening, IVECO and SMAG unveiled the complete IVECO range, showcasing their commitment to providing versatile solutions for a diverse range of commercial missions.

The display included the heavy-duty IVECO T-Way 6×4 Rigid, designed for challenging construction environments, the IVECO S-Way 4×2 tractor head, the multi-mission Eurocargo medium trucks available in both 4×2 and 4×4 configurations, and the lightweight Daily Hi-Matic with a 5.2t GVW for urban mobility.

This new location in Dubai Industrial City will complement SMAG’s existing Ras Al Khor facility, which will now be developed into a specialised IVECO Daily van centre, dedicated to serving the demand for IVECO’s light vehicle range. With close proximity to Jebel Ali Port and the upcoming airport, the Dubai Industrial City site is strategically positioned to streamline logistics and fleet support for the UAE market.

The launch event attracted over 80 guests, including representatives from the Ministry of Transport, local authorities, fleet operators, and media members. peaking at the event, Ewan Byrne, General Manager of Saeed Mohammed Al Ghandi & Sons, highlighted the strategic advantages of the new location.

“As one of the first major truck distributors in Dubai Industrial City, we are positioned to support our clients more effectively. The facility’s excellent access to road links and proximity to Jebel Ali Port enable us to offer seamless fleet support and vehicle servicing,” Byrne said.

SMAG’s new premises reflect a commitment to operational efficiency, offering 24/7 support to minimise vehicle downtime—a key requirement for commercial operators. “Our workshops and parts departments are designed to provide round-the-clock support. Ensuring that our customers’ fleets stay on the road, regardless of the time of day, is a priority we’re dedicated to,” Byrne explained.

Silvia Quaglia, IVECO AME Network Development, emphasised the customer-centric approach of the new facility. “This expansion is a crucial milestone for IVECO and SMAG in the UAE. With the 24/7 workshop service, we’re enhancing after-sales support to ensure that our customers can maintain their fleets with maximum convenience and reliability,” Quaglia noted.

With SMAG representing IVECO in Dubai and the Northern Emirates since 1985, the collaboration continues to grow. SMAG’s strong regional presence extends beyond the UAE, with operations in East Africa, reinforcing their capability to serve diverse markets. IVECO’s latest models—from the adaptable Daily to the rugged T-Way—are designed to meet a broad spectrum of commercial needs, reflecting IVECO’s commitment to offering top-tier reliability, efficiency, and customisation.

As UAE’s construction and logistics industries expand, IVECO and SMAG’s enhanced facility promises a streamlined, customer-focused approach to fleet support, emphasizing quality and efficiency in every aspect. The launch reaffirms IVECO’s strategic focus on delivering robust commercial solutions, now more accessible than ever to its UAE customers.

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Source: ME Construction News


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October 28, 2024 foasummit0

Edward McCluskey has been appointed as the new Head of Contracts & Advisory service at Compass Project Consulting (CPC). The firm said the strategic addition strengthens its capabilities to provide expert-level support to contractors, consultants and project owners throughout the region.

With three decades of expertise in procurement, commercial management, and dispute resolution, McCluskey brings a wealth of knowledge that ensures clients receive comprehensive guidance on complex contractual, financial, and legal matters, particularly within the construction and real estate sectors, said a statement from CPC.

As both a Chartered Quantity Surveyor and a Chartered Arbitrator, McCluskey’s dual qualifications provide rare blend of technical and legal proficiency. His deep understanding of construction-related arbitration, mediation, and contract claims management has earned him repeated appointments by global institutions, including the Dubai International Arbitration Centre (DIAC), the firm explained.

“Edward’s expertise adds an additional layer of support for our clients. His extensive experience in both dispute resolution and proactive contract management allows us to offer a seamless service that anticipates issues before they arise and ensures timely, cost-effective solutions. With Edward on board, our clients can be confident that their contractual risks are managed efficiently, and any disputes are resolved with the highest degree of professionalism,” said Michael McGovern, Regional Director of Cost Management at Compass.

Having overseen over 40 complex cases, ranging from contract terminations to professional negligence, McCluskey’s meticulous and pragmatic approach ensures that disputes are resolved swiftly and effectively, allowing clients to focus on project success without being weighed down by legal uncertainties, CPC explained.

As a RICS-accredited firm, CPC continues to provide project development solutions that meet the highest industry standards. Under McCluskey’s leadership, the Contracts & Advisory service will offer tailored solutions, including contract drafting, arbitration, quantum and delay analysis, and expert witness testimony. This comprehensive approach helps clients minimise risks, preventing disputes from escalating, and safeguarding project timelines and financial outcomes, CPC clarified.

With McCluskey’s appointment, Compass strengthens its position as a trusted partner for navigating the GCC’s complex construction and contract landscape, ensuring that projects stay on track and disputes are efficiently resolved, the statement concluded.

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Source: ME Construction News


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October 28, 2024 foasummit0
Aldar Properties has announced the successful completion of redevelopment work at Al Hamra Mall in Ras Al Khaimah.

The project enhances the mall’s status as a central hub for retail and dining in the emirate and is part of Aldar’s $272mn investment plan in key retail destinations, said a statement.

Situated in the heart of Al Hamra Village, the extensive redevelopment involved a complete overhaul of the mall’s external and internal spaces, and the creation of an innovative Central Atrium that combines natural light with modern aesthetics.

Designed for service-to-table restaurants and a versatile venue for hosting events and activations, the space adds a vibrant focal point to the mall, Aldar Properties noted.

Saoud Khoory, Chief Retail Officer, Aldar Investment said, “We are excited to unveil the newly enhanced Al Hamra Mall, a reflection of Aldar’s dedication to creating vibrant, world-class destinations that cater to the evolving needs of our customers.”

“As Ras Al Khaimah continues to grow as a key destination for hospitality, tourism, and residency, this re-imagined retail offering reinforces our commitment to elevating community experiences and delivering long-term value across the emirate,” added Khoory.

Offering a diverse mix of local and international brands, Al Hamra Mall now features more than 130 retail stores and eateries, 37 of which are new market entries, the statement concluded.

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Source: ME Construction News


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October 28, 2024 foasummit0

P.O.B1 Properties, the newly established real estate development division by Saif Al Ghurair Real Estate Group (SAGRE), has announced its inaugural project, Serenova, which is billed as a community-driven residential project in Dubai Silicon Oasis.

The new project is said to reflect P.O.B1 Properties’ commitment to addressing the growing demand for urban convenience in Dubai’s key growth nodes, while creating sustainability and long-term value in real estate investment.

“P.O.B1 Properties represents a new strategic direction for the SAGRE Group, focusing on growth and innovation in Dubai’s fast-changing real estate landscape in line with the ‘Dubai 2040 Urban Master Plan’. With deep roots in the city’s development, at P.O.B1 Properties we want to emphasise our commitment to its future chapters, as we have in the past 60 years. With Serenova, we will showcase this fresh approach and our commitment to deliver destinations which appeal to evolving customers within Dubai’s new neighbourhood,” said Ghaith A. Shocair, Chief Executive Officer of P.O.B1 Properties, and Chief Executive Office and Board Member of the Saif Al Ghurair Real Estate Group.

Set for completion in Q2 2027, the US $56mn Serenova occupies a 7,850sqm plot, and aims to offer flexible living spaces that blend modern comfort living to meet the needs and preferences of families and young professionals. Serenova offers 222 apartments, from studios to one-, two-, and three-bedroom apartments, as well as designed premium two-bedroom apartments and four-bedroom penthouses. Its architectural design prioritises open spaces, uninterrupted panoramic views to Dubai’s skyline, and layouts that balance privacy and comfort.

Serenova will have easy access to highways, including Al Ain Road, Sheikh Mohammed Bin Zayed Road, and Emirates Road, while being close to Dubai International Academic City. Serenova will also benefit from Dubai Metro’s upcoming Blue Line project, with a station planned in close proximity to the project, offering enhanced connectivity and ease of transport for residents, said a statement.

Apartments will feature private balconies or terraces with views of Dubai’s skyline. A range of amenities will elevate everyday living, including a landscaped courtyard with spacious outdoor gardens, two family and children’s pools, a rooftop skyline pool for adults, sunset terraces, a wellness court, a rooftop gym and fitness centre. Residents will also benefit from 24/7 concierge services and security, the statement added.

Engel & Völkers has been appointed as the brokerage agency for the residential project. With over 1,000 offices, they will leverage their international network for buyers and investors through roadshows and their agent connections, as well as access to the local brokerage community.

P.O.B1 Properties is built on the legacy of its parent company, Saif Al Ghurair Real Estate Group (SAGRE), with a portfolio of over 1,800 residential units, offices, and pioneering retails projects, the statement concluded.

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Source: ME Construction News


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October 25, 2024 foasummit0

ACCIONA has secured new sustainable financing worth US $317mn to fund key projects aimed at reducing carbon emissions and fostering sustainable growth in the Gulf Cooperation Council area (GCC).

The sustainable financing is structured as a green loan with local impact, aligned with ACCIONA’s Sustainable Impact Financing Framework. The margin of the financing is linked to a local impact initiative which aims to boost sustainable construction by supporting local suppliers to develop and produce lower or zero-carbon building materials, such as cement, steel and concrete, the firm said in a statement.

The financing underscores ACCIONA’s commitment to promoting environmentally responsible investment practices. The proceeds will be allocated to projects that contribute to climate change mitigation and environmental conservation and will be aligned to the EU Green Taxonomy, including renewable energy, energy efficiency programs, sustainable mobility, and sustainable water management initiatives, among others, it added.

The transaction is a further demonstration of ACCIONA’s leadership in the sustainable finance market. With a history of raising capital for environmentally beneficial projects, ACCIONA has attracted diverse groups of investors who are focused on aligning their financial interests with sustainable outcomes.

José Ángel Tejero, Chief Financial and Sustainability Officer of ACCIONA said, “This new financing underscores ACCIONA’s strength in diversifying its funding sources while reaffirming our commitment to leading the development of low-carbon solutions in the GCC. We appreciate the support of the banks involved in this transaction and we are proud to deliver the region’s first Green Loan with Local Impact financing. Our goal is to continue integrating sustainable structures into our corporate debt.”

Caroline Eber-Ittel, CEO France and Head of Banking and Coverage Europe at Standard Chartered added, “We’re delighted to provide ACCIONA with this important Green Loan to support the energy transition in Gulf Cooperation Council countries. In our first ever transaction of this kind with a Spanish client, it demonstrates our Iberian strategy to grow in the European sustainable finance space. It is also a reflection of Standard Chartered’s expertise to find opportunities and structured solutions that meet our client’s sustainability ambitions, and our commitment to mobilise $300bn of sustainable finance by 2030.”

ACCIONA issued its first green bond in 2016 and closed the first half of its 2024 financial year with 80% of its corporate debt in sustainable financing structures. First Abu Dhabi Bank and Standard Chartered acted as Green Loan Coordinators, SFI Markets as Arranger of the financing and Dentons as Legal Counsel, the statement concluded.

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Source: ME Construction News


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October 25, 2024 foasummit0

Developer Dubai Investments has said significant progress has been made on Violet Tower, the residential development in Jumeirah Village Circle (JVC). The developer said that Violet Tower is nearing the completion of its foundation phase, with 99.3% of the piling work already finished, marking a major milestone in the construction timeline.

In terms of the project timeline and work hours logged, the firm said that enabling works are expected to be concluded by Q4 2024, and the anticipated overall project completion is set for Q4 2026. Approximately 58,000 working hours have been dedicated to the project so far, with an exemplary safety record and no reported incidents.

Located in the heart of JVC, this  development is designed to cater to the rising demand for planned urban living spaces. The project will feature 27 residential floors, comprising 287 units that range from studios to two-bedroom apartments, all designed to maximise space efficiency and modern living standards.

Violet Tower is set to offer residents a contemporary living experience, featuring a unique steel canopy roof and a multi-functional entrance area that includes a co-working station along with essential amenities like 24/7 security systems.

The developer said that the project is backed by a variety of contractors and specialists — Al Ghurair Contracting is leading the main construction works, while Tech Foundation is managing the enabling works, and Arab Centre is appointed for pile testing to ensure standards of quality.

Upon completion, Violet Tower is expected to make a significant impact on JVC’s skyline, enhancing residential offerings with its strategic location and contemporary design. The project aims to provide a unique living experience while integrating seamlessly into the vibrant JVC community, the developer said.

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Source: ME Construction News


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October 25, 2024 foasummit0
The Department of Municipalities and Transport Abu Dhabi (DMT) has launched the Building Occupancy and Legalisation Certificate Program as part of Administrative Decision No. (1) of 2024. This initiative aims to enhance building quality and safety, ensure regulatory compliance, and elevate the economic and social value of buildings, ultimately leading to increased real estate value while safeguarding long-term investments.
According to a statement, the programme safeguards real estate investments by increasing the design life through precautionary maintenance schedules; and enhancing property value, boosting confidence in the real estate market, reducing future expenses and emergency repairs. It will also contribute to improving residents’ quality of life by providing a safe residential environment that meets the highest safety standards,  supporting the implementation of construction regulations and fostering a transparent legal environment for regulating construction and occupancy activities. This will help facilitate real estate transactions, promote sustainable construction practices, and minimise buildings’ environmental footprint.

DMT further clarified that the programme will be implemented in three stages to achieve gradual compliance with the required standards. The initial stage entails issuing a Conditional Occupancy Certificate, emphasising compliance with essential standards such as fire safety, gas installation safety, structural integrity, elevator safety, and child protection measures. During this stage, buildings are exempted from complying with the remaining standards, facilitating their gradual transition to full compliance, the statement explained.

Existing residential villas are exempted from the initial and subsequent stages’ requirements for a full occupancy certificate, except for villas that have exceeded their design life and pose safety risks to their residents. This approach allows for flexibility in addressing the unique challenges of each property.

H.E. Ahmed Al Kuwaiti, Executive Director of Building Permits Workstream at the DMT mentioned the department’s commitment to enhancing safety standards and ensuring compliance of all buildings in Abu Dhabi stating, “Our aim is to enhance confidence among residents and investors within the emirate through our commitment to deliver services that adhere to the utmost standards of security and safety, thereby fostering sustainable development.”

The DMT noted that the programme aims to raise compliance levels within the construction and real estate sectors. Property developers and owners will further benefit from the programmes implementation of smoother procedures with clear timelines for completing each step in the certification process.

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Source: ME Construction News