Real estate developer Fakhruddin Properties has broken ground on its new development, Maimoon Gardens – a residential complex that will be dedicated to the wellbeing of occupants, with sustainability at the centre of all its offerings.

In a statement, Fakhruddin Properties said that the development will offer residents significantly superior indoor air quality, premium drinking water, energy conservation, and innovative waste management processes.

The developer added that Maimoon Gardens has been conceptualised as a living example of sustainability, and will provide residents with a higher quality of life through innovative sustainable solutions and smart home automation technologies. It added that the new project will display its vision and brings the company one step closer to making a substantial contribution towards creating a greener future.

“At Maimoon Gardens, our vision has been to create sustainable developments that promises to bring together the best of lifestyle amenities, comfort and convenience. It is our mission to be a pioneer in the field of real estate development, positively influencing behavioural and cultural shift for a healthy and sustainable future,” said Yousuf Fakhruddin, CEO of Fakhruddin Properties.

In early May 2022, Fakhruddin Properties’ CEO said that the built environment can help achieve the national climate and energy goals and create a more sustainable future.

He added, “Through smart and conscious construction practices whose core focus lies in delivering lifestyle sustainability, Maimoon Gardens is built in line with national and global climate change goals. With this unique development, we hope to inch closer to our vision of becoming the market leader in practical sustainable lifestyle developments in the region.”

Maimoon Gardens’ twin towers are located in Jumeirah Village Circle, off Hessa Street. The mixed-use development is to feature studios, one-bedroom, two-bedroom, and three-bedroom units, as well as retail and commercial spaces.

It will also offer amenities such as a community greenhouse cooled with Radiant Cooling Technology; these are expected to host vertical hydroponic systems growing a number of fruits and vegetables, a state-of-the-art health club, an outdoor calisthenics park, a squash court, a multipurpose court, a paddle tennis court, an infinity swimming pool, and an outdoor play area for children, amongst other offerings.

In addition, the property’s podium will be maximised with green gardens and landscaping consisting of a separate Zen Garden and a meditation garden with peaceful cascading waterfalls. It will also offer a host of leisure facilities, with a one-of-its-kind Lazy River, misting pods, and a barbeque area.

In mid August 2022, Fakhruddin Properties said sustainability will be a key focus of its new residential project.

Each apartment will have its own vertical herb garden for residents and homeowners to utilise. The developer stated that it hopes to provide residents with the healthiest lifestyle possible, while also creating savings on the energy consumption front, via best-in-class technology and AI.

This includes the use of air purification technology that will offering combined savings of 30% to 40%. In addition, the centralised water purification system adopted will not only deliver premium quality drinking water to every home but will also help decrease plastic waste and carbon emissions, while also saving on drinking water consumption.

Residents of the building will also be able to take advantage of a Green House with hydroponics system for growing fruits and vegetables, all of which are managed in a self-regulating radiant cooling system designed to make summer temperatures more manageable. The property is also expected to house a waste management system that encourages users to separate dry and wet garbage; this will significantly reduce the collective carbon emissions in a drastic way, the developer explained.

Each apartment is to feature an advanced smart home automation systems, which have the potential to offer energy savings of up to 30%, and can be accessed through a single mobile application interface, curated over an AI enabled backend. Everything is designed to be managed with the push of a button, from automated lighting controls and temperature regulation options to security functions such as fingerprint recognition locks, smart security systems, and access control, the firm added.

In early December 2022, ZāZEN Properties said it would deliver ZāZEN Gardens in April 2024.

The project, which is scheduled to be completed in 2025, has already seen a quick sell out of both Tower A and Tower B, the developer pointed out.

Hussainy Fakhruddin, Chairman & Group CEO, Fakhruddin Holdings remarked, “Fakhruddin Properties is always looking for new ways to operate efficiently and provide the highest quality services to our clients. We understand how important it is to maintain a competitive edge in today’s market.”

He concluded, “We believe that our commitment to innovation, sustainability, and excellence will help us stand out as a leading developer in this ever-changing world of property development, management and investments.”

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Dubai registered a record 219 ultra-prime home sales in 2022, according to the latest analysis by global property consultant, Knight Frank. The firm says ultra-prime refers to properties with a value exceeding US $10mn.

“The meteoric rise of Dubai’s multi-million-dollar homes market over the course of the last two years has been phenomenal. From just 11 ultra-prime sales in 2010, 2022 has registered 219 deals above the $10mn mark – more than the total recorded between 2010 and 2020,” explained Faisal Durrani, Partner – Head of Middle East Research at Knight Frank.

He continued, “The performance at the top of the market clearly demonstrates the arrival of Dubai as a luxury hub to rival long established markets elsewhere, with no sign to suggest a slowdown in the seemingly relentless demand from global ultra-high-net-worth-individuals zeroing in on the emirate in search of second homes. Indeed, our 2023 Global Attitudes Survey shows that amongst the region’s wealthy, the UAE remains the second most likely target for a home purchase this year, behind the UK.”

In early January 2023, CBRE said that Dubai saw a record total of residential transactions in 2022.

Knight Frank’s research also reveals that the emirate’s prime markets, which include Emirates Hills, Jumeirah Bay Island and The Palm Jumeirah, have collectively registered price growth of 44% during 2022.

Durrani added, “Dubai’s prime residential market has performed in line with our expectations and with average transacted prices standing at around $885 per sqft, it remains one of the world’s most affordable luxury home markets – further boosting the city’s appeal amongst international buyers.”

“The Palm Jumeirah remains the city’s star-performer, with villa prices increasing by 49.4% last year, underpinned by a shortage of new waterfront villa projects in completed communities and the desire by the international elite to secure stand-alone beach front homes. The exceptional demand for homes on Dubai’s Palm Jumeirah is best reflected in the fact that villa prices have risen by 96% since the start of the pandemic, but remain at about $817 per sqft. Prices are however now 34% higher than their 2017 peak,” he remarked.

In mid January 2023, the Select Group awarded $816.7mn in contracts for Dubai projects.

Villas in Mohammed Bin Rashid City (21.6%), Dubai Hills Estate (20.2%) and District One (19.5%) were the other locations that experienced the strongest gains in 2022, the firm observed.

Apartments too in the most sought-after locations have seen significant price rises; Dubai Hills Estate (22.7%) leads the 2022 league table, closely followed by The Palm Jumeirah (19.7%) and Downtown Dubai (13.8%). Apartments in the last two locations are now trading for approximately $600 per sqft, the firm concluded.

Also in mid January 2023, Samana said it would invest $680mn into 12 new projects in 2023.

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Melanie Buttle has been appointed Human Resources Director, PMKConsult has announced. In her role Buttle will lead and implement the talent strategy for the firm, working in tandem with the Operations Director for the UAE and the Chief Operations Officer for the business.

Buttle joins the consultancy with a senior-level background in the discipline within the hospitality sector, and has over 20 years of experience in generalist human resources roles in the UK and UAE. Her role at PMKConsult will be to plan, direct, and develop HR policies and guide and implement the talent strategy for the business across all offices, the firm stated.

“I am excited to join this team and be among driven and motivated individuals; it makes the work of an HR Director that much more engaging. The corporate culture here is extremely positive and it is clear to see that the team responds well to being within such an enabling working environment. I look forward to working closely with the senior management and leadership teams, but more importantly supporting the delivery and admin teams to help them reach their full potential and maintain that gainful and productive edge that has made this company so successful thus far,” commented Buttle.

In mid May 2021, PMKConsult acquired UAE-based cost consultancy ACS and, in late January 2022, the firm inked a deal to extend its service offering across Africa.

PMKConsult said that it has grown its headcount by over 50% in 2022, and claims to boast employee retention that is well above the industry average. The firm said it regularly celebrates work milestones with several team members marking five-, seven-, and 10-year anniversaries. Buttle’s HR expertise is expected to continue to strengthen the organisation and create a more engaging work environment, the firm pointed out.

Keenan Grote, Chief Operating Officer of PMKConsult added, “Kevin and I are thrilled to have Melanie on board. Her contribution as HR Director will be extremely valuable in continuing to cultivate the collaborative and people-centric culture of our team. One of our aims in developing our team is to grow from within, and with Melanie’s experience working across large scale organisations, we will be able to provide support in meeting the needs of our expanding team and helping them grow in their roles and careers.”

In mid October 2022, the firm appointed Jesyka White as Director of Operations for the UAE.

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Two Memorandums of Understanding (MoU) have been signed by Abu Dhabi’s Department of Municipalities and Transport (DMT), which aim to promote the research and development of hydrogen energy and sustainable development strategies, strengthen cooperation in the field of low-carbon hydrogen public transportation, and facilitate the sharing of information and resources. The MoUs were signed with Changwon City and the Korea Transport Institute (KOTI).

The MoUs are said to be part of Abu Dhabi’s ambitious plans to strengthen its position in clean and sustainable energy. It is also in line with the DMT and the Integrated Transport Centre’s efforts to reduce the carbon footprint and improve the quality of life in the emirate of Abu Dhabi, by establishing an environmentally friendly transportation system and sustainable infrastructure.

According to the DMT, the two MoUs were signed on the sidelines of the UAE – South Korea Business forum held in Abu Dhabi on 16 January. Representing the Abu Dhabi Government, the MoU with Changwon City was signed by His Excellency Falah Al Ahbabi, Member of the Abu Dhabi Executive Council and Chairman of DMT, and Hong Nam-pyo, Mayor of Changwon City, Na Seung-sil, President of Korea Automotive Technology Institute, and Kwon Whan-ju, CEO of Kwangshin Machinery Company while the MoU with KOTI was signed between His Excellency Al Ahbabi and Jaehak Oh, President of KOTI.

“As part of its mission, the department strives to promote flexible, smart, low-carbon mobility and provide environmentally friendly transportation choices. By signing these strategic MoUs, we aim to strengthen cooperation frameworks with the Republic of Korea in a way that contributes to enabling joint public transportation solutions as part of Abu Dhabi’s climate neutrality strategy and enhances the emirate’s pioneering position in the field of green hydrogen and clean energy,” stated His Excellency Al Ahbabi.

In mid October 2022, DMT unveiled the Abu Dhabi Digital Twin project.

He added, “Based on the directives of our leadership, we will continue to build partnerships with international partners regarding renewable energy, infrastructure, and transportation. As part of the energy transition and advanced technologies that curb climate change and drive sustainable growth in Abu Dhabi, we will also capitalise on the economic opportunities.”

Through the signing of the MoU, Abu Dhabi and Changwon City aim to enhance bilateral exchanges by organising workshops, seminars, pilot projects, and meetings that share experiences and ideas. As part of the MoU, both parties will design action plans for collaboration, establish hydrogen charging infrastructure, operate hydrogen buses, and facilitate visits and professional exchanges, the DMT explained.

In addition, the two cities will cooperate on the design and specification of hydrogen plants, hydrogen refuelling stations, and hydrogen buses, as well as their operation and maintenance in Abu Dhabi.

The MoU with KOTI aims to collaborate on the research and development of integrated development strategies and policies, sharing information and expertise on Korean regulations for establishing hydrogen charging stations, and conducting joint workshops and training courses for mutual benefit. The MoU also includes an Expert Exchange Programme for sharing human resources and other materials such as publications and research facilities, the statement from DMT noted.

In early November 2022, the DMT signed a twinning partnership with Bishkek City.

Mayor Nam-pyo commented, “Changwon City formed Team Changwon with Korea’s competent institution and company to cooperate with Abu Dhabi DMT for Abu Dhabi’s hydrogen mobility policy, which aims to transform Abu Dhabi into a hydrogen city. Changwon City is the only local government that participated in the UAE-Korea Business Forum during the Korean President’s state visit to the UAE. Through this MOU, Changwon City will collaborate with Abu Dhabi DMT to grow together, as one of the world’s best hydrogen cities, not just in the Middle East. Changwon City will actively support and cooperate with Abu Dhabi on behalf of the Republic of Korea.”

Dr. Jaehak Oh stated, “The Korea Transport Institute, a leading and representative research institution of Republic of Korea with the objective to contribute to the advancement of national transport, has been establishing cooperative relationship with DMT to cooperate in the area of transport, especially eco-friendly public transport system and mobility using hydrogen energy. I believe that through signing the MoU, the two parties have prepared a solid foundation to make a greater step for achieving their goals successfully in the near future. Taking this opportunity, I deeply appreciate DMT.”

The signing of the two MoUs align with Abu Dhabi’s efforts to support the country’s preparations for hosting the 28th UN Climate Change Conference of the Parties (COP 28) later this year, by driving climate action to reduce carbon emissions, the statement pointed out.

The DMT added that through the collaborations, Abu Dhabi will be able to offer an enhanced integrated and environmentally friendly transportation network that facilitates movement with ease and comfort, thereby supporting business growth.

In late November 2022, Abu Dhabi Maritime and AD Ports Group launched a Public Water Taxi service.

The signing also falls within the framework of achieving the DMT’s strategic priorities in developing smart cities, utilising knowledge and experience to enhance social, economic and urban development through a flexible and sustainable infrastructure, the statement concluded.

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Emirates Water and Electricity Company (EWEC) has issued a request for proposal (RFP) to qualified companies and consortia that have expressed an interest in developing the Al Ajban solar photovoltaic (solar PV) independent power project (IPP) in Abu Dhabi.

A specialist in the integrated coordination of planning, purchasing, and supply of water and electricity across the UAE, EWEC said a total of 43 companies and consortia had submitted expressions of interest (EOIs), while 19 of them had made it to the RFP stage.

EWEC had initially invited EOIs for the 1,500MW project in early May 2022.

Al Ajban is said to be a greenfield solar PV plant with a capacity of 1,500MW; it will be able to generate enough electricity to power approximately 160,000 homes across the UAE.

Once commercially operational, it is expected to reduce Abu Dhabi’s CO2 emissions by up to 2.4m metric tonnes per year besides increasing the solar energy capacity on the Abu Dhabi system to approximately 4GW.

According to EWEC, the winning developer/developer consortium will be responsible for the financing, construction, operation, maintenance and ownership of the plant, and associated infrastructure. It will also get to own up to 40% of the plant, while the remaining equity will be held indirectly by the Abu Dhabi government.

Together with the two previous large-scale solar projects tendered by EWEC – Noor Abu Dhabi and Al Dhafra projects – the Al Ajban solar plant will play a pivotal role in enabling the UAE’s Net Zero by 2050 strategic initiative, as well as the UAE Energy Strategy 2050.

In late July 2022, EWEC and Tadweer issued a RFP for an Abu Dhabi Waste-to-Energy IPP.

EWEC CEO, Othman Al Ali remarked, “Increased solar power generation is a key pillar in our strategic plan to fundamentally transition our energy generation to a low carbon system. There has been a strong level of interest expressed in this key project so far, and we look forward to seeing proposals from pre-qualified companies and moving to the next stage of development.”

In late September 2022, EWEC invited developers to submit EOIs for the Abu Dhabi Islands RO IWP.

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Kuwait’s Public Authority for Roads and Land Transport (PART) has issued consultancy services tenders for Phase One of its railway project network. The network will run for 110km, extending from the country’s southern border with Saudi Arabia through to the country’s Shaddiyah region.

According to local media reports, the scope of work for the tenders includes a detailed study and design work for the rail network, as well as preparation of documents for the tender of Phase One of the railway project.

The reports added that the floating of the tenders comes after the go-ahead by the Central Agency for Public Tenders (CAPT). Citing sources within the industry, they added that the winning consultant will be appointed by the end of May, while the final designs and studies for the project will be completed by the end of 2023.

Once this is achieved, PART will offer contracts for the construction of the railway line for Phase One; the deadline for submitting tenders has been fixed as 21 February 2023. It is estimated that five to seven consultancies are expected to submit bids, while the overall project is slated for completion between two to three years.

In early November 2022, authorities said that construction work on Kuwait International Airport had progressed significantly.

The issuing of the tenders comes in the wake of Kuwait’s Ministry of Finance agreeing to a grant of US $1.62mn to PART for covering the cost of contracting with a global consultancy for the railway project, reports said.

As per informed sources, the earlier plan was to allocate $3.25mn for the global consulting contract, but the ministry trimmed it to 50% on the grounds of there already being a previous study in place, and that the new consultancy office should review and amend it.

In November 2022, it was reported that the procurement committee in the Ministry of Public Works agreed to proceed with the procedures for submitting a project for detailed study and design work, and preparing the railway tender documents (first phase) at a value of $3.25mn.

The Ministry of Finance had previously given the green signal to PART to start the study, preliminary design and preparation of railway tender documents (first phase) within the limits of the estimates included in PART’s draft budget for the 2022/2023 fiscal year.

In late November 2022, Kuwait’s TEC said that its tourism and entertainment projects would be completed by mid-2023.

The Ministry of Finance stipulated, with its approval, that the awarding and contracting procedures should not take place before the issuance of a law tying the authority’s budget for the said fiscal year.

In mid December 2022, CDE said it would supply wet processing equipment for a major land remediation effort in Kuwait.

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ADNOC has signed a Memorandum of Understanding (MoU) with thyssenkrupp Uhde – the German-based subsidiary of thyssenkrupp Group and a specialist in chemical engineering – to explore a long-term partnership to create new markets for hydrogen and promote global clean energy value chains.

In a statement, ADNOC said that the agreement, which was signed at Abu Dhabi Sustainability Week, will focus on the development of projects for large-scale ammonia cracking, which is used to extract hydrogen from ammonia after transportation.

Under the agreement, the companies will work together to develop large-scale ammonia cracking plants with thyssenkrupp technology. The agreement will also lead to the exploration of opportunities in the clean energy value chain for the supply and shipment of low-carbon or green ammonia from the UAE to large-scale ammonia cracking facilities globally.

Musabbeh Al Kaabi, Executive Director, Low Carbon Solutions and International Growth Directorate said, “ADNOC’s fast-growing hydrogen business is enabled by the UAE’s abundant and competitive energy reserves. We are committed to strengthening our position as a reliable supplier of lower carbon-intensive energy, creating new revenue streams, and growing the global market for hydrogen. In doing so, we will work with like-minded partners, such as thyssenkrupp to deliver tangible solutions that contribute to the decarbonisation of the energy sector.”

In early January 2022, ADNOC awarded a $946mn EPC contract for the long-term development of the Umm Shaif field.

Ammonia is a carrier of hydrogen, and it is much easier to compress and transport. When shipped, after arriving at its destination, the ammonia needs to be decomposed or ‘cracked’ into hydrogen, before it is used in the energy value chain, the statement explained.

The ammonia cracking process is based on globally proven uhde reformer technology, which is applied in over 130 large-scale chemical plants across the world, the statement added.

Cord Landsmann, thyssenkrupp Uhde CEO remarked, “Countries in Europe, along with many others, are looking to clean hydrogen imports to decarbonise industry and society. Clean ammonia is the best way to transport hydrogen by ship, and together with ADNOC, we will deliver the last piece of the puzzle for global clean hydrogen trade at large scale.”

ADNOC has already invested in low-carbon ammonia, where the carbon dioxide (CO2) emitted during production is captured and stored underground.

Late in January 2022, Hitachi Energy said it won an ADNOC power transmission contract.

In May 2021, the company announced a one million tons per year low-carbon ammonia production facility at the TA’ZIZ industrial ecosystem and chemicals hub. The company said it has significantly expanded its strategic energy partnerships across the hydrogen value chain and shipped demonstration cargoes of low-carbon ammonia to customers in Germany and Asia to test its application.

ADNOC said it is also investing in green hydrogen – and renewable energy – through Abu Dhabi Future Energy Company (Masdar), a clean-energy powerhouse that will place the UAE at the forefront of the energy transition. Through this investment, ADNOC said that it aims to become a world leader in green hydrogen.

In early November 2022, Baker Hughes and ADNOC said they would develop sustainable energy solutions.

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Samana Developers intends to launch 12 new projects in 2023 at a total investment of US $680mn. The Dubai-based developer said the projects include six residential developments and five-star hotels.

Elaborating on its plans for the year, the developer said it has six residential design concepts phased up for the first half, and is primed to expand into the hospitality sector with a set of five-star hotels. Once complete, the projects will add a total of 2,400 new units onto the market.

The firm said it is currently picking up the most suitable locations and recruiting talent with the aim to have a team that’s four times larger in 2023.

“2022 remained bullish for us as we set a new trend in the market. I believe innovation and out-of-box approach in real estate are key factors to success in modern Dubai’s real estate market. For example, Samana was the first developer in Dubai which created and set the trend of private swimming pools in residential projects – in non-hotel projects with title deeds. We are proud of it. Today, this trend has been replicated by at least two dozen developers. We will be coming up with new design ideas in our 12 new projects in 2023,” stated CEO Imran Farooq.

In late April 2021, Prestige Constructions was appointed as the main contractor for Samana Golf Avenue and, in late September 2021, the developer launches three ESG-inspired projects worth a total of $110mn.

Despite the pandemic-related construction challenges and site workforce restrictions in early 2022, Samana was able to manage the construction flow and delivered the Samana Hills project, the firm explained.

Last year it launched Samana Waves, Samana Miami and Samana Santorini projects that were fully sold out, it added.

The developer also pointed out that it had fast-tracked construction work at its luxury lifestyle project – Samana Park Views located within Arjan community alongside its key developments – Samana Waves and Samana Golf Avenue.

Sharing an update on its 176-unit Park Views project, the developer said that work is progressing well, with four out of its eight slabs already completed. The superstructure will be ready by the end of next month. and the project will be delivered in Q2 2024, it concluded.

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The Events Investment Fund (EIF) has been launched by Saudi Arabia, and it aims to develop sustainable infrastructure for the culture, tourism, entertainment and sports sectors across the Kingdom. The EIF will be capitalised with US $3.7bn to directly develop more than 35 world-class venues across the Kingdom by 2030. It also aims to create strategic partnerships to boost the local industry, increase foreign investment and contribute to Vision 2030’s aim of a vibrant society.

The fund was announced by His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al-Saud, Crown Prince, Prime Minister and Chairman of EIF.

According to a statement, the fund will focus on developing and increasing direct foreign investment opportunities for a GDP impact of $7.5bn by 2045. It will further raise capital by providing lucrative high-return opportunities to the private sector and financial institutions.

Part of the EIF’s remit will be to nurture partnerships between the private and public sectors, and securing a supportive environment for strategic partnership in the events industry and increasing the number of job opportunities for citizens, the statement noted.

In late November 2022, PIF subsidiary SEVEN said it would US $13.3bn into 21 integrated entertainment destinations in KSA.

The ultimate aim of the EIF is to position Saudi Arabia as a global hub in these various events sectors, to provide world-class sustainable infrastructure for the delivery of an ambitious national events calendar, and to create sustainable financial returns to support the Kingdom’s economic diversification efforts, the Kingdom emphasised.

EIF assets will include indoor arenas, art galleries, theatres and conference centres, horse-racing tracks, auto racing tracks and other event facilities across the Kingdom, with the aim of delivering its first asset by 2023.

Aligned with the Kingdom’s sustainability agenda, the fund is committed to upholding the highest environmental, social, and governance (ESG) standards. EIF’s strategy is focused on three main pillars, which include enhancing its environment, invigorating societies and maintaining strong governance, the statement explained.

The statement noted that the EIF will contribute to Vision 2030 with respect to diversifying the economy and increasing its share of non-oil GDP, as well as supporting the contribution of the tourism sector to annual GDP, from its current rate of 3% to more than 10% by 2030.

In early January 2023, the US-Saudi Business Council said that $6.7bn in contracts were awarded in Saudi Arabia in Q3 2022.

Additionally, EIF will support the transformation of the Kingdom into a global tourist destination, attracting more than 100m visitors by 2030 and making it one of the world’s most visited countries, the statement elaborated.

This is aligned with the Kingdom’s quality of life programme, which aims to improve the quality of life for individuals and families by developing the necessary sustainable venues.

The EIF’s vision is also said to be aligned with the National Development Fund’s strategy, and aims to make the fund a pivotal enabler for the economic and social objectives of Vision 2030; overcoming existing development challenges in line with global best practices and stimulating a threefold increase in the private sector’s impact on the Kingdom’s economy by 2030, the statement concluded.

Also in early January 2023, PIF and Ma’aden signed a JV to establish a new entity to invest in global mining assets.

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