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DUBAI NEWS

172nd Dollar Millionaire Walked Away From Dubai Duty Free
Tuesday, 19th August 2014 - Mr. Sreeram Chellappa, an Indian national who lives in Dubai and works for International Food Network LLC.

DFSA Welcomes Changes Resulting From New Amendment Law
His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister, in his capacity as the Ruler of Dubai, has enacted the Dubai International Financial Centre (DIFC), DIFC Laws Amendment Law 2014.

Ethical Hackers Invited To Join Inaugural du Hackathon At du Cyber Security Conference To Win AED 20,000
Securing IT infrastructure in the UAE’s future Smart City environment is imperative, and ethical hackers are an essential component to the development of solid cyber defences.

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DUBAI FEATURES

Property sector in UAE remains vibrant this summer

The property sector across the UAE has remained vibrant and active during this summer. Chestertons stated that Dubai in particular, has witnessed impressive growth levels across different master developments. The company believes that both Dubai and Abu Dhabi will witness a buoyant market through the last quarter of 2014 due to a range of commercial and residential property options that are available at a globally competitive price range.



AED 37.5 Billion Invested in Dubai Real Estate Market in H1 2014

Dubai Land Department has reported that total of 17,289 real estate transactions worth AED 37.5 billion were conducted in the first half of this year. The government organisation accompanied their announcement with a breakdown of nationalities making property investments in the first six months of 2014, which revealed that Jordanians topped the list of Arab investors, with Indian nationals ranked first for foreigner investment.



First signs of IPOs in the UAE since market recovery

The initial public offering ("IPO") market in the Gulf Cooperation Council ("GCC") in the second quarter ("Q2") of 2014 started off and ended on a high, with a total of seven IPOs, compared to two in Q1 2014. The quarter witnessed its first IPO in April with the UAE based company, Emirates REIT (CEIC) Limited, listing on NASDAQ Dubai Limited and raising USD 201 million. Also in April, Marka PJSC, a UAE based company, listed on the Dubai Financial Market (the "DFM") raising USD 77 million.



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ABU DHABI NEWS

NBAD Subsidiary In Americas Renamed, Strong Service Continues
The National Bank of Abu Dhabi (NBAD) has renamed its wholly-owned subsidiary in the Americas to NBAD Americas N.V.

3rd Emirates Green Building Council Annual Congress In October To Discuss ’Sustainable Cities For The Future’
The third Annual Congress of Emirates Green Building Council (EmiratesGBC), an independent forum aimed at conserving the environment by strengthening and promoting green building practices, will be held on October 20 and 21, 2014, in Dubai, under the theme, Sustainable Cities of the Future.

Citizen Jet Skier Rescued In Open Water By ADP After Falling
A search and rescue airplane, of the Abu Dhabi Police Air Wing Department, saved a citizen who had fallen from his jet ski in open water after colliding with forceful waves.

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ABU DHABI FEATURES

Cyber Gear Publishes White Paper on ’Google Rankings Algorithm’

Cyber Gear, the leading web design agency in the Middle East has published a white paper on 'Google Rankings Algorithm'. The document provides a detailed insight for web site owners and digital marketing professionals on how to drive traffic to their web site through improved organic rankings.


Abu Dhabi Real Estate Pricing Update

While studio prices in the emirate stand at AED 689,000, a one bedroom in the city costs AED 1.3 million and a two bedroom apartment, AED 2 million. “We’ve released this data based on for-sale homes and rentals listed on our site. Topping the list of places for buying property in Abu Dhabi is Al Reem Island, followed by Al Reef and Al Raha Beach. Al Ghadeer enters the top 10 this quarter; its appeal seems to be rising as it did not make the list in Q2 2013 and 2012,” said Michael Lahyani, CEO and Founder of propertyfinder.ae, the UAE’s leading property site.



Abu Dhabi real estate market experiences growth

JLL, the world's leading real estate investment and advisory firm, has released its second quarter (Q2 2014) Abu Dhabi Real Estate Overview report, whichprovides the consultancy's perspective on the latest trends in the office, residential, retail and hotel sectors in the Abu Dhabi market.



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SHARJAH NEWS

 
Air Arabia Launches Flights To Chittagong, Bangladesh From Ras Al Khaimah
Air Arabia, the Middle East and North Africa’s first and largest low-cost carrier (LCC), has announced that from September 2, 2014 it will run three flights per week from its new hub in Ras Al Khaimah to Chittagong, Bangladesh, further strengthening its connectivity with a core growth market.

Air Arabia launches flights to Chittagong, Bangladesh from Ras Al Khaimah
From September 2, the airline will operate three scheduled flights per week from its hub in Ras Al Khaimah.

Sharjah International Airport Free Zone To Attract Indian IT Investors
Sharjah International Airport Free Zone (SAIF Zone) has successfully participated in a two-day India Innovation Summit that concluded recently in Bangalore.

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SHARJAH FEATURES

New book features unique collection of Islamic textiles from Sharjah

One of the world’s most important collections of Islamic textiles from the Sharjah Museum of Islamic Civilisation is being celebrated in a new publication created by Sharjah Museums Department (SMD).



Sharjah Commerce and Tourism Development Authority
Established in 1996 by the Government of Sharjah, the SCTDA has been in the forefront of promoting and taking Sharjah to the world with its relentless efforts and unmatched enthusiasm. The Authority constantly explores possibilities and avenues of promoting and developing tourism and commercial sectors in the emirate through special events, activities and festivals at home and around the world. It pursues its goals by planning and drawing up strategic plans to promote and develop tourism sector in all its forms. It conducts social and economic research and studies as well to evolve its strategies and pursue its goals. And as part of its strategy to promote Sharjah, SCTDA participates in local, regional and international exhibitions, focusing on the factors of distinction and exclusivity.

The Economist praises Sharjah’s efforts in water conservation
The Economist, a weekly international news and business publication, has confirmed that Sharjah s per capita consumption of water is consistent with the recommendations of the United Nations, pointing to the emirate’s numerous efforts in water conservation. A report by Sharjah Media Centre mentioned that the magazine in its recent issue titled "The World in 2014", commended on the fact that daily water consumption in Sharjah is estimated at around 200 liters per person, which is the average recommended by the UN.

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