RWI Anticipates High Demand For Rubber Products Amidst Construction Of 640 Projects In UAE

Rubber World Industries (RWI), the leading manufacturer of closed-cell rubber insulation ’Gulf-O-flex’ in the Gulf and South-East Asia, and part of the international business conglomerate, the Memon Group of Companies, is anticipating high demand for rubber insulation products, amidst the ongoing construction of a total of 640 development projects in the UAE, according to REIDIN.com. In line with this, the company is strengthening its efforts to achieve its goal of producing 1,800 containers per year – 600 containers more than its present capacity – to sufficiently address the Emirate’s need for rubber insulation products.

RWI maintains a positive outlook on the rubber insulation market in the UAE, given the projected increase in the number of completed construction projects, which is slated to reach 205 by the end of the first half of 2009. The company also revealed that its products have been used in some of the 135 projects, which were completed in the first quarter of 2009. As the leading source of high quality rubber insulation products across the country and the region, RWI has been involved with the construction of highly prestigious projects such as ‘The Villa’, ‘Motor City’, ‘Traders Hotel’, ‘Horizon Tower’ and ‘Green Community West Villas and Apartments’.

“The UAE construction market has exhibited its resilience in the midst of the economic crisis with a projected completion of over 200 developments merely six months into 2009, and thereby dramatically surpassing the record set in 2008,” said Abu Baker Shaikhani, Managing Director, Rubber World Industries, and Chairman of the Memon Group. “The strength exhibited by the market continues to inspire and motivate us to innovate and develop our current product portfolio, and we are looking forward to delivering our leading-edge and environment-friendly products to more projects in the UAE.”

RWI has delivered high quality products to major property developments by real estate leaders in the UAE. As the only producer of rubber insulation in the Middle East region, the company is the premier source of a versatile range of rubber insulation products that meet the requirements in the oil and gas fields, construction, shipping and automobile industries. The company delivers its products to more than 90 countries, including the US, Germany, Russia, Canada and Singapore.

Municipality Praises DP World, UAE Region for Contributions to Dubai’s Development Goals

The Dubai Municipality recently commended DP World, UAE region for its significant and long-term contribution to Dubai’s development goals:  “Through the active alignment of its growth trajectory with Dubai’s growth requirements, DP World has been a model for all Dubai companies,” said Eng. Hussain Nasser Lootah, Director of the Dubai Municipality.Eng. Lootah spoke at Jebel Ali terminal during a meeting between Municipality officials and DP World executives, headed by Mr. Mohammed Al Muallem, SVP and Managing Director, UAE Region.  The goal of the talks was to investigate additional avenues for policy coordination.Mohammed Al Muallem, SVP and Managing Director, DP World, UAE Region, said: “DP World is always ready to cooperate with Dubai Municipality. We are jointly responsible to the community and seek ways to contribute to the qualitative development of Dubai.  Such meetings are an excellent opportunity to share information and deepen coordination.  As always, we appreciate Dubai Municipality’s strong support.”Eng. Hussain Nasser Lootah, Director General, Dubai Municipality, said: “DP World is doing a commendable job in integrating its development projects with the needs of this emirate.  Dubai Municipality is committed to the welfare of the people and we deeply value our close relations with DP World, UAE Region and the common interests that bind us.”

Sherwoods boosts portfolio of resale offerings as investors, buyers focus on secondary property market

Sherwoods Independent Property Consultants has recently announced that it has beefed up its portfolio of services and offerings catering to the reseller market to address a sharp surge in re-sale transactions within the UAE’s property sector. Sherwoods noted that re-sales accounted for an estimated 95 per cent of property transactions in the first quarter of 2009, a complete turnaround from just around 30 per cent in the previous year.Sherwoods pointed out that the major shift to re-sale activities has been the result of steady corrections in the property market. Furthermore, Sherwoods noted that the decline in prices will subsequently bring property values to more appropriate levels and ultimately help set sustainable benchmarks for new development projects in the property sector.Iseeb Rehman, Managing Director, Sherwoods Independent Property Consultants commented: "Although actual figures are not available, based on Sherwoods’ experience I would say that in the first quarter of 2009, only around five per cent of property investments have gone into new projects, while 95 per cent has been channelled to the re-sale market. This is a considerable turnaround as off-plan project sales accounted for around 70 per cent of transactions in the previous year with only 30 per cent going to the reseller market.""As a natural reaction to the global downturn, the property market is experiencing a slowdown in the launch of new projects, which has subsequently shifted the focus on ready-to-occupy properties. Moreover, with asset valuations seeing sharp correction and prices falling in the re-sale market, we can expect the entire property sector to benefit in the long run as values get back to the right levels, which will become the new and more sustainable benchmarks for developers to launch their new projects," added Rehman.Sherwoods also pointed out that the competitive price range in secondary markets has been a key factor in boosting the growing buying interest of international investors, who are also taking advantage of fluctuations in the exchange rate to optimise their long-term investment initiatives. Furthermore, Sherwoods emphasised that availability of bank financing will be an important factor in fully harnessing the huge potential in the secondary market as end-users rather than speculators are now more inclined to buy property in view of the excellent range of offerings in the ready property market."Although the sharp correction in values of property in the secondary market and the significant savings being brought about by differences in exchange rates have greatly empowered buyers to choose from a wider selection of premium properties, bank financing must also have to come back into full swing to fully realise the market potential of genuine buyers," Rehman concluded.Founded in 1988 in the UK by Iseeb Rehman, Sherwoods has grown to become one of the leading international real estate companies. Sherwoods has established several international branch offices in the UAE, UK, France, and soon in other key locations around the world. The company offers a diverse range of services, including search & acquisition of properties; development consultancy, land appraisals and valuation; sales & lettings of residential/commercial property; new home sales; residential & commercial property management services; legal, tax and insurance services; and mortgage & remortgage.

Khalifa Tours Dubai’s Signature Landmarks

Sheikh Mohammed said he was pleased with the care shown by the President for following up development projects in the country.

Sheikh Khalifa started his tour with stop at the marina and Jumierah Beach Residence where he acquainted himself with residential and recreational facilities including towers, offices, shopping centres, marinas, and world class hotels and resorts.

Jumierah Palm was the second stop in the President’s tour and from there the presidential motorcade proceeded to the Union House which saw the signing of the document for establishment of the UAE Federation. He also saw the UAE flag fluttering at the world’s tallest post.

At the final leg of the tour, the President moved to Burj Dubai, the world’s tallest tower. From the tallest free-standing structure, the President saw the surrounding developments which feature residential and commercial buildings, retail spaces, hotels and entertainment elements, reflecting the social and cultural diversity in the country.

Sheikh Khalifa expressed his admiration at the integrated civilisational facet of the country and blessed the qualitative development plans being carried out by Dubai.
These developments, the President affirmed, provide direct support to the national economy and the country’s sustainable development.

He also commended the wise vision of Sheikh Mohammed which he said is complementing the strategy of the leadership and government of the UAE.

“Sheikh Mohammed’s vision is part and parcel of the government comprehensive strategy which as a leadership is striving to maximise its elements to improve living conditions of the citizen, education standards and provide all factors of stability and strength to our citizens,” the President said.

“Any civilisational, economic, scientific or sports achievement scored by any emirate or a citizen is a national honour to our country and people.

All should be proud of this success as well as all other gains of our great nation and its authentic Arab heritage, culture and values,” the President added.

At the end of the tour, the presidential motorcade drove to the Zabeel Palace where the two leaders held fraternal talks focusing on a host of issues related to the national development.

Sheikh Khalifa was briefed by Sheikh Mohammed on plans and programmes Dubai is planning to implement in future. For his part, the President welcomed every move that will deliver promising future to our beloved nation and people.

“Development projects being executed by each emirate in the country are complementing each others and boosting national economy and standing of the country regionally and internationally, they also serve interests of sons and daughters in any corner of the beloved UAE land,” he stressed.

Sheikh Khalifa was accompanied by H.H. Gen. Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, H.H. Sheikh Hazza bin Zayed Al Nahyan, National Security Advisor and H.H. Sheikh Mansour bin Zayed Al Nahyan, Minister of Presidential Affairs.