Gulf Construction Online

UAE Focus

Update

01 July 2004

Dubai awaits $6bn investment
Dubai: The emirate is expected to invest over Dh22 billion ($6 billion) in infrastructure-related projects in the medium term, with $4.5 billion earmarked for the light rail transit (LRT) development.

Around $500 million will go for roads and bridges, $300 million for drainage and irrigation, and $700 million for general projects, according to a news report. Dubai’s existing road network stretches 10,000 km involving an investment of $2.5 billion. It is under continuous expansion and development with over 20 major new projects, including an eight-lane tunnel under the airport and a new 12-lane bridge across Dubai Creek.
The LRT system will stretch 70 km with 55 stations. Construction will start in 2005 and the first phase and will be operational in 2010. The second phase will be completed in 2017, added the report.

Panasonic launches decorative ACs
Dubai: Panasonic has launched its complete range of decorative split air conditioners with Super Ionizer in the Middle East.
“We have timed the launch to coincide with the start of the summer months in the region,” said Masaki Okamoto, product manager, air conditioners, Panasonic Marketing Middle East.
The new CS/CU-C28CKF(S) range is a high-capacity 28,000 BTUs (British Thermal Unit) device, characterised by Panasonic’s trademark technological innovations. The heavy-duty air conditioners offer up to 13 per cent energy savings over conventional models.

Geronimo sets up Dubai base
Dubai: Geronimo Purchasing, which specialises in the procurement of furniture, fittings and equipment (FF&E) and operating supplies and equipment (OS&E), mainly for hotels, leisure and luxury residential developments, has set up a base in Dubai.
A unique element in the company’s service offering is its state-of-the-art purchasing management system called the geronimo. This facilitates the creation and management of FF&E and OS&E procurement from budget estimation all the way through to delivery of goods on-site.

Hygienic ACs launched
Dubai: Samsung Electronics has launched 25 new hygienic air-conditioners in the Middle East with built-in Digital ‘i’ technology and bionizers – two Samsung technologies that are said to make air-conditioners in home and office healthier than ever.
The new air-conditioners are embedded with Digital ‘i’ technology, which is a large circular LED (light emitting diode) display that allows consumers to monitor the ‘health’ of the room in terms of current operation mode, power and the room temperature all at a glance and bionizers.

DIFC signs million-dollar deals
Dubai: The Dubai International Financial Centre has signed a deal with Kuwaiti joint venture partners, Global Investment House and Al Mazaya Holdings, to create a residential building at the 44-hectare DIFC site, following a successful bid at the recent land auctions.
The deal is worth Dh450 million ($122.15 million) in total foreign direct investment (FDI), and the project will offer up to 1 million sq ft of residential space including parking and will be located over Road 312 and across the Gate Gardens District. It will be one of the few all-residential buildings in the centre.
• DIFC has also signed a significant joint venture agreement, worth Dh300 million ($81.7 million), with Ascon that will create a state-of-the-art mixed use building within the centre.
The deal follows a series of announcements confirming the great interest in the project from local, regional and global investors and developers.
The building, when completed, will total 550,000 sq ft of residential, retail and office space. It will use smart card technology and integrate an intelligent parking system for its 1,000 space car park.

Al Shafar to build Cascades
Dubai: Al Shafar Transport and General Contracting has won the contract to build the Cascades, a 17-storey tower at Dubai Marina.
The project, designed by Arif and Bintoak, is estimated to cost Dh90 million ($24.50 million). Construction of the project will start soon and will be completed in 18 months, said Omran Mostafa, group managing director of Mostafa bin Abdullatif Group.
The complex will have a mixture of apartments ranging from one- to five-bedroom penthouses as well as duplexes that will be built over a 33,000 sq ft waterfront plot at Dubai Marina, the 94-apartment residential complex has attracted strong investor interest, he said.

Conrad Hotel to set up at Dubai
Dubai: The emirate’s first Conrad hotel, a luxurious 350-room property, is to be built on Shaikh Zayed Road.
Conrad Hotels, the luxury brand of the Hilton family, has reached an agreement with the Abu Dhabi-headquartered real estate company Private Property Management, to operate and manage the hotel.
Catering to both the corporate and leisure market, Conrad Dubai will feature 220 luxurious guest and executive floor rooms, plus 130 suites and serviced apartments. Additionally, signature office and retail space will make the hotel a thriving addition to the community.
Conrad Dubai will also offer 12 meeting rooms and a business centre, a ballroom which can accommodate 1,100 people, innovative restaurants and bars, a nightclub and a spa and health club with an outdoor swimming pool.