#PROJECT: BUSINESS BAY

[OmarPERU]

UPDATE 28.01.12

[I Know]

The projects, which include Fifty One @ Business Bay, the Burlington, Oxford Tower — all commercial properties located in Business Bay — and Oakwood Residency, a residential property located in the International Media Production Zone, are 90 per cent sold and clock in at a total Dh1.5 billion.

Fifty One @ Business Bay will be the first to come online in February, followed by Oakwood Residency in March. The last two commercial projects will be delivered in the second half of this year. The projects will deliver a total of 1,080 residential and commercial units.

Analysts told Gulf News yesterday that the news could prove positive for Business Bay, an eight million-square-foot development that had slowed down during the economic downturn. The development of infrastructure, roads, power and landscaping has progressed slowly.




"The infrastructure development is going to be going on for a number of years as there are various bridges and road links that still need to be built. Wherever new buildings come on and local road [networks] develop, [there will be] progress," said Matthew Green, head of research at CB Richard Ellis, a property consultancy company.

Shying away

"It is this lack of infrastructure that means occupiers still shy [away from] moving in. This is offset by the fact that rents are significantly lower than others around the CBD."

In a statement yesterday, Saeed Al Qatami, acting Deyaar chief executive officer, said: "The hallmark of Deyaar's success and indeed one of its key differentiating factors amidst these challenging conditions has been its commitment to its customers and focus on high-quality real estate projects whose value as an investment-grade product will endure over many years."

Last year, Deyaar announced a net profit of Dh44.4 million for the first six months ending June 30.

Positive boost

The results were a positive boost after a loss of Dh243 million during the same period last year.

The main reason for this growth was the completion and handover of their projects in Business Bay.

In April, Deyaar handed over its residential projects — Mayfair Tower, Mayfair Residency and Clayton Residency — and its commercial property, Metropolis Offices.

In a bid to encourage buyers, Deyaar teamed up with Tamweel, the UAE-based Islamic home finance provider in September 2011 to jointly offer ready units at four Deyaar projects in Business Bay at an optimal flat rate — with no additional fees from either the developer or the finance provider. These included Clayton Residency, Hamilton Residency, Mayfair Residency and Mayfair Tower.
http://gulfnews.com/business/propert...-year-1.973160

[Younes64]

Does anyone have the RTA roads masterplan for the roads for BB. There does not seem to be any work on the bridges over the bay linking the two shores.

[HappyLarry]

Can anyone recommend a good but not to fancy priced fit out company for a small office (around 1000 SqFt). How much can I expect to pay for flooring, walls (plasterboard), and ceiling including lighting and aircon vents?

[The-King]

10/02/2012
this place still lacks landscaping and all the common areas! So sad to see that they don't even have enough money to build the promenade along the canal...
image hosted on flickr

Source: http://www.flickr.com/photos/arwcheek1/6851249743/
High-Res: http://www.flickr.com/photos/arwchee...n/photostream/
image hosted on flickr

Source: http://www.flickr.com/photos/arwchee...n/photostream/
High-Res: http://www.flickr.com/photos/arwchee...n/photostream/
image hosted on flickr

Source: http://www.flickr.com/photos/arwchee...n/photostream/
High-Res: http://www.flickr.com/photos/arwchee...n/photostream/

[Melb_aviator]

One step at a time.

Over time these things will be built, but atleast reality has set in and decisions are being made to ensure that things are brought under control first.

[Imre]

18 local and international bidders submit tenders for designing Empower’s two new district cooling plants in Business Bay

Launch of two plants in 2014 will boost Empower production by 20 %



Dubai, UAE, 19th February 2012: 18 local and international companies are bidding for designing two district cooling (DC) plants of Empower in Business Bay in Dubai. The two projects will add to Business Bay more than 80,000 refrigeration tonnes.

Ahmed Bin Shafar, CEO of Empower, said: “The launch of the two plants by 2014 will boost Empower’s production by 20 percent. Our aim is to meet the rapidly growing demand of our customers in this important that is shaping into one of the most dynamic locations in the emirate of Dubai.”

He added: “Stringent selection criteria have been laid down to ensure that the right company gets the job of designing the two plants. We urge local companies to participate in this bid and we assure them that they would be given higher priority vis a vis international companies.”

The two powers plants will serve an area of 5 kilometers and will follow the best international standards when it comes to design and operation.

“The importance of switching to district cooling, that is the alternative to conventional air conditioning, is commendable, as more and more residents and businesses are benefiting from our services. These two plants will further enhance our lead position in the district cooling industry in the MENA region,” Bin Shafar added.

Empower, which is a joint venture between TECOM and Dubai Electricity and Water Authority (DEWA), is now producing more than 360,000 refrigeration tonnes serving a set of leading real estate projects in Dubai like Dubai International Financial Center, Dubai Healthcare City, Jumeirah Beach Residence and City Of Arabia in addition to the Business Bay.

http://imresolt.blogspot.com/2012/02...l-bidders.html

[Chakazoolu]

Originally Posted by The-King

10/02/2012
image hosted on flickr

Source: http://www.flickr.com/photos/arwchee...n/photostream/
High-Res: http://www.flickr.com/photos/arwchee...n/photostream/

Are they landscaping the business bay park at the side of the Exec towers? There was activity at that area when I went passed the other day.

[steldxb]

The original plan for this area was a lake at the back of Executive Towers. This was then scrapped, probably because of costs. ex Dubai Properties Group staff tell me in th eold days it was a potential undergroudn parking site too but nothing came of this.

Owners in Executive Towers who have been trying to form an Owners Association (with no avail) have seen plans for this area to now be landscaped. the area at the bottom nearer the Old Town side will potentially have a mosque.

Back in the hey day, the site used to house a mosgue but it was knwocked down for the construction of Exec Towers.

Now, plans look liek they will have a mosque there with parking and landscaping around the area. There have eben calls for a jogging track to go around this area as well as tennis courts but you never know with the developer!

For sure, they are now laying Sand so whether this a basetreatement to concrete the place over and have it as one large landscaped car park who knows - someone in construction can probably advise.

[steldxb]

ps i think this developer had also miscalculated the number of car park spaces so they need more for the office tower plus the shopping arcade. I heard thast Spinneys put up a fight to have a specific number of car parking bays closeby when they opened.

[Imre]

Empower's 2011 fiscal year net profit cross AED 162 million, an increase of 25%

Bin Shafar: “The remarkable growth can be attributed to overall expertise of the company, advanced infrastructure and long term planning”



Dubai, UAE, 28th February, 2012: Empower, the leading district cooling services provider in the region, recorded net profit of AED 162 million for fiscal year ended December 2011, representing an impressive 25 percent increase over 2010. The company’s total revenues reached AED 670 million, an increase of 40 percent over previous year. This was announced at a press conference held today (Tuesday, 28 February, 2012) in Grand Hyatt in Dubai.

Ahmed Bin Shafar, CEO of Empower, said: “Empower’s operations grew remarkably in 2011 due to higher demand. We also expanded our footprint and enhanced the infrastructure and network in real estate projects to cater to the needs of our rapidly increasing client base. Moreover, the company worked on training its personnel across all levels, which has definitely contributed to these positive results.”

Talking about the funding for Empower's expanding operations, Bin Shafar said the company’s funding options included, internal cash generated from operations, medium to long term funding from banks and financial institutions and shareholders equity contributions.

He added that Empower adopted a clear strategy for 2011, an extension of the company’s strategy in previous years. Bin Shafar said this strategy revolved round creating cooling capacities based on the actual demand for district cooling services. The company also increased its personnel by 12 percent in 2011.

Bin Shafar expressed his satisfaction over the company’s performance which he said was in line with the growth of the district cooling sector itself in the UAE. He emphasised that the UAE continues to be a leading player in the district cooling industry, not only in the region but also on the global front.

Empower stands at the forefront of district cooling industry in the region. The company has the right caliber and world class infrastructure to lead this industry in the Middle East. Empower achieved a remarkable increase of 12 percent in its cooling capacity, with over 370,000 Refrigeration Tons (RT) in 2011.

Talking about the district cooling industry in the UAE as well as the competition in the market, Bin Shafar said that challenges facing the development of the industry in the UAE include lack of visibility to project development timelines and robust strategy for capacity creation in many of the district cooling companies which has led them to financial difficulties. Empower, however, continued to grow, as demonstrated by its growth in revenues over 40 percent in 2011.

Bin Shafar highlighted the advanced plant and network infrastructure of Empower as well as the skill sets and experience of its personnel, though the company is just nine years old.

Bin Shafar said the Gulf district cooling industry is growing at the rate of 15 to 20 percent and the biggest obstacle in the way of its progress was the absence of long term planning among the companies working in the district cooling industry. He pointed out that the Middle East was still in its infancy in district cooling, compared to the scale of development across the region, and commended the regional governments for encouraging the environment-friendly cooling technologies.

About Empower:

Emirates Central Cooling Systems Corporation (Empower) is a joint venture between Dubai Technology and Media Free Zone (TECOM) Investments and Dubai Electricity and Water Authority (DEWA), created to provide energy-efficient district cooling services to large-scale real estate developments. Empower plans to diversify into other energy efficiency and conservation services. Empower's district cooling systems (DCS) provide effective and efficient means of air conditioning. Water is cooled in central plants and distributed through a network of piping systems to individual customer buildings. DCS achieves economies of scale by using centralised plants instead of individual cooling units in each building. The centralised system results in reduced capital and operating costs, thus reducing air-conditioning set-up and energy costs per building. Empower is set to become one of the largest district cooling service provider in the region.

http://imresolt.blogspot.com/2012/02...et-profit.html

[Desert Diver]

[Desert Diver]

[Desert Diver]

[Imre]

O14 Tower night photos

10/March/2012



43 pics here:

http://www.flickr.com/photos/imresol...7629189861082/

[ldy5]

DUBAI: The Dubai Municipality is preparing a massive waste collection drive at Business Bay and Zaabeel areas with several private sector organizations taking part.

Abdul Majeed Saifaie, director of Waste Management Department at the Dubai Municipality (DM), said this programme would start right from the first week of March till end June.

“The clean-up drive will cover a 3-km square area by deploying 150 dedicated civil staff for this drive. About 45 trucks and four shovels will be used in a planned 800 trips of wastage removal,” he added.



“In the 4-month long waste removal programme, teams will collect construction, agricultural and general waste from the area and transport it to designated sites for disposal. About 15 private groups have committed their full-fledged participation in the programme,” elaborated Saifaie.

[Desert Diver]

[Desert Diver]

[gevorika78]

wow such beautiful pictures,...you make Dubai's weather seem fabulous

[Desert Diver]

Thanks