ABU DHABI, 25 June 2007 — The Abu Dhabi land exchange saw last week transactions worth AED201.8 million, according to a report issued by Abu Dhabi Municipality. Mortgage transactions dominated the real estate market with 36 deals at a total value of AED173.74 million. Sales stood at AED 28 million with trades on residential lands registering AED11.22 million, agricultural lands AED3.73 million and commercial lands AED13.1 million. The highest registered sale transaction in value took place at Shahama for a commercial property which was sold at AED4.5 million while the highest mortgage was registered at Abu Dhabi mainland at a total value of AED32 million.
Korean Businessmen Assess Dubai Growth
DUBAI, 25 June 2007 — The Department of Economic Development (DED) presented an overview of Dubai’s current economic development and investment environment to a visiting delegation of 15 Korean businessmen representing securities firms. Headed by Kun Ho Hwang, chairman and CEO of Korea Securities Dealers Association, the delegation is visiting Dubai to study the emirate’s experience in the different economic fields.
Giordano Hosts Four-Day Bazaar
DUBAI, 25 June 2007 — Giordano, the Middle East’s leading casual wear retailer is hosting a four-day bazaar supported by Mashreq at Hall 5 of the Dubai World Trade Center from June 28 to July 1 and will be offering their customers an opportunity to purchase their favorite Giordano merchandise at unbelievable prices. Executive director for Giordano, Ishwar Chugani, said: “The bazaar is a great company initiative created to give us the opportunity to personally interact with our customers and understand their needs.
EMP Receives ISO Certification
DUBAI, 25 June 2007 — Emirates Marketing & Promotions (EMP), a subsidiary of Emirates Post, has been awarded the international standard ISO 9001:2000 certification for its call center operations. EMP operates call centers, manages UAE’s largest database and provides a host of direct mail marketing services to leading corporates and government agencies across the UAE.
Barclays Bank Opens in Dubai
DUBAI, 25 June 2007 —Barclays Bank will officially open today at Bank Street in Bur Dubai. The bank, successfully introduced its complete range of retail banking proposition of accounts, credit card and loans to the UAE on May 30, 2007.
SAPTCO Buys 150 Mercedes Buses
JEDDAH, 25 June 2007 — Saudi Arabian Public Transport Company (SAPTCO) yesterday signed a deal to purchase 150 Mercedes buses. It will increase the total fleet of buses to 3,100 and strengthen its operation capabilities, Abdullah Al-Muqbil, deputy transport minister and chairman of the board, said.
