Dubai Investments real estate projects generate investor interest

Mirdif Hills project rendering
Updated 15 September 2017
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Dubai Investments real estate projects generate investor interest

Dubai Investments PJSC, a leading diversified investment company listed on the Dubai Financial Market, has announced that its real estate projects worth over 4.5 billion dirhams ($1.2 billion) across the UAE are generating investor interest, amidst optimistic trends in the real estate sector in the country.
Dubai Investments is currently developing the Mirdif Hills project in Mirdif through Dubai Investments Real Estate Company; Green Community DIP — West Phase 3 in Dubai Investments Park through its subsidiary Properties Investment; and Fujairah Business Center in Fujairah through Al-Taif Investment, besides a number of other residential projects.
Dubai Investments currently has one of the largest land banks in the UAE, and plans to develop projects with over 20 million square feet gross floor area (GFA) in the next two years. The land banks, owned by DI subsidiaries — DIP, DIRC and Properties Investment, includes nearly 15 million square feet GFA within DIP and at strategic locations across the UAE.
Projects, which are either in planning or finalization stage, include a tower on Sheikh Zayed Road, residential buildings in Al-Nahda, Al-Barsha, Jumeirah Village Circle, Meydan and Abu Dhabi and a hotel in Bur Dubai, among others. Other projects include expansion of The Market shopping arcade in Green Community — DIP and two residential buildings in DIP.
The current projects will boost Dubai Investments’ market presence in the real estate sector, the company said. Its assets in the sector constitute over 65 percent of its total asset mix and is worth 10.82 billion dirhams, as of June 30.
Khalid bin Kalban, managing director and CEO of Dubai Investments, said: “The UAE real estate market is characterised by strong fundamentals and the government’s strategy further accentuates its reputation as the preferred investment destination in the Middle East with ample opportunities to drive added value. The real estate projects by Dubai Investments are aimed at not only rejuvenating the sector but also boosting the strong growth potential on offer.”
He added: “As a company, Dubai Investments continues its strong thrust in developing its real estate portfolio in the UAE over the next two to three years to take advantage of renewed market interest and investor confidence, particularly in the wake of the infrastructure projects to be announced for Expo 2020.”


King Abdullah Port throughput up by 36%

The number of vessels received by the port increased to 911 vessels, a 12 percent increase compared to 820 vessels in 2017.
Updated 21 January 2019
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King Abdullah Port throughput up by 36%

The annual throughput of King Abdullah Port increased to 2,301,595 TEUs by the end of 2018, an increase of more than 36 percent compared to 2017. This maintains its position as the second largest port in the Kingdom in terms of container handling. 

Since its inception in the last quarter of 2013 the number of containers handled by the port has reached 7,227,859 TEUs. The port’s management stated that the annual increase in throughput was primarily achieved in conjunction with an 8 percent increase in imports and exports compared to 2017.

King Abdullah Port CEO Rayan Qutub said: “King Abdullah Port constitutes a real success story in public-private sector partnerships in light of the increasingly outstanding figures it achieves year after year. The port has become the leading driver in the maritime shipping and logistics services sector in terms of building knowledge, launching initiatives and supporting various activities in this sector.”

He added: “King Abdullah Port aspires to support the Kingdom’s economic development and enhance its competitiveness by increasing the efficiency of logistics services and supporting trade movement between the Kingdom and the rest of the world in line with Vision 2030. The latter would occur through the provision of state-of-the-art infrastructure and advanced logistics services to become a landmark on the maritime and logistics services map in the Kingdom and the region.”

Referring back to the 2018 results, Qutub said: “We achieved a record 50 percent increase in container handling in the first half of 2018, and we are moving forward with our development plans to provide best practices in the fields of port development and operation as well as supporting logistical services. This will increase the Kingdom’s competitive advantage on the logistics services index, and in turn effectively contribute to achieving the logistical objectives of the Kingdom’s Vision 2030.” 

The results achieved by King Abdullah Port in 2018 include an increase in transshipment volume reaching 1,847,569 TEUs, which is a 44 percent increase compared to 2017. Meanwhile, the number of vessels received by the port increased to 911 vessels, a 12 percent increase compared to 820 vessels in 2017. 

The port features state-of-the-art facilities including 18-meter water berths, which are the deepest in the world, and the world’s largest and most advanced cranes, which employ the latest technology and feature a 65-ton lifting capacity as well as a handling capacity of 25 containers. Such facilities enable the port to serve giant container vessels now and in the future.