Dubai Silicon Oasis Signs MoU With Dubai Airport Free Zone

Dubai Silicon Oasis (DSO), the integrated free zone technology park today signed a memorandum of understanding (MoU) with the Dubai Airport Free Zone Authority (DAFZA) to assess the respective results of performance indicators aimed at improving operations and customer satisfaction at both organisations.

The MoU is in line with the efforts of Dubai government’s policy to streamline its departments under one umbrella to achieve performance excellence. Benchmarking results of performance indicators and sharing practical experiences of institutions to maximize the learning curve are some of the measures taken by the government to support the emirate’s economy.

Dr. Juma Al Matrooshi, Executive Vice-President – Corporate Excellence and Support at Dubai Silicon Oasis Authority, and Yousuf Behzad, Director of HR and Strategy at DAFZA, signed the MOU during a ceremony at the Dubai Airport Free Zone attended by senior officials from both organisations.

Dr. Juma Al Matrooshi said: “Through this MoU, we aim to strengthen our ties with every government department in Dubai. This will help increase institutional performance as the standards will be based on the comparative competitiveness. By doing so, we contribute to Dubai’s vision of being one of the leading cities in the world in applying good governance standards and achieving full transparency and credibility in government and semi-government transactions.”

Yousuf Behzad said: “There is a real need for various economic institutions in Dubai, especially those which seek to attract foreign investment, to align their standards in order to develop the quality of services offered. A joint effort will ensure high customer service standards, one of the most important elements that appeals to international investors.

“Given its experience of 15 years in performance results indicators, Dubai Airport Free Zone will contribute and enrich the development of the best practices.”

The MoU defines the areas of cooperation to include a series of activities such as benchmarking the results of pre-set indicators for key performance areas and operational performance. Preserving the intellectual property rights of both parties, it also mandates sharing practical experiences, information, and best practices. This move is a joint effort to achieve Dubai’s vision by comparing results of both organizations, within a framework of set principles.

A wholly-owned entity of Dubai Government, Dubai Silicon Oasis operates as a free zone technology park for the semiconductor, microelectronic and other high technology-based companies looking to set up their regional headquarters and R&D facilities in the Middle East and Africa region.

The Dubai Airport Free Zone is one of the most developed free zones in the world and has been designed to provide the best and most important investment opportunities. Over the years, DAFZA has offered important incentives deals in addition to unique support services to multinational corporations from all continents helping them set up their regional headquarters in Dubai, seizing thus many unique business opportunities in all the neighbouring markets.
 

Dubai SME And Dun Bradstreet Signs Partnership On Privileges For Dubai SME 100 Companies

Dubai SME, the agency of the Department of Economic Development (DED), Government of Dubai, entrusted with the development of the small and medium enterprise (SME) sector, has signed a partnership agreement with Dun & Bradstreet (South Asia Middle East Ltd) to offer exclusive benefits to the top 100 SMEs in Dubai.

The partnership will entitle companies ranked under the “Dubai SME 100” initiative of Dubai SME to various privileges such as: discounts on D&B credit rating reports, free D&B DUNS Registered Seal (a tool recognised globally for enhancing online credibility and visibility) as well as participation in development workshops that help SMEs improve their credit rating and subsequently, their bankability.

His Excellency Abdul Baset Al Janahi, Chief Executive Officer of Dubai SME, expressed his gratitude to Dun & Bradstreet for supporting the SME 100 initiative, which seeks to recognise the top performing SMEs based in Dubai.

“With the SME 100 programme, Dubai SME has embarked on a momentous journey of SME development together with valued partners like D&B. I am confident that as we move forward Dun & Bradstreet will provide even more benefits to those promising SMEs poised to add substantial value and diversity to the regional and global business communities,” said Al Janahi.

Mr. Rajesh Mirchandani, CEO of Dun & Bradstreet, added: “D&B is proud to be a part of the Dubai SME100 programme and will extend all possible support to Dubai SME in this initiative”.

DubaiSME100
The Dubai SME 100 ranking will act as a platform and catalyst to identify promising SMEs and groom them to become bigger, better and sustainable enterprises, eventually graduating them to large globally-oriented companies. At its core, the ranking is aimed at:

• Celebrating Dubai’s top performing SMEs
• Creating greater awareness of the importance of SME development
• Creating a national motivational psyche in the nation’s social and business community
• Encouraging SME role models to share their best practices in management
• Marketing the capabilities of Dubai’s SME’s to regional and global investors
• Providing opportunities for SMEs to raise capital
• Creating a base of SMEs for a potential secondary listing of SMEs (IPO) that can attract equity capital for growth
• Providing development path for SMEs to graduate
• Creating a culture of transparency, corporate governance and best practice sharing.

Unlike other rankings which are based mainly or purely on financial indicators, the Dubai SME 100 ranking places a balanced emphasis on financial and non-financial dimensions of enterprise performance and development. The non-financial dimensions cover Innovation, International Orientation, Human Capital Development and Corporate Excellence.

The ranking will also serve as a tool for helping SMEs identify capability gaps for improvement. The ultimate outcome is for Dubai to have more growth-oriented, innovative, capable and sustainable enterprises that can fly the UAE flag high.

The ranking methodology was developed by Dun & Bradstreet (D&B) for Dubai SME, with SME development as its core guiding block.

The basic criterion is that the applicant must be an SME based on the official definition of Dubai’s SMEs, with up to 250 employees and a turnover of up to AED250 million. In addition, it must have audited financial statements for at least three years, and be an independent entity registered in Dubai (under DED or any Free Zone).

Over 830 eligible SMEs have been nominated by banks, business councils and Free Zones to participate in the initiative, with more nominations expected in the next few weeks. The first ever Dubai SME100 ranking list will be out in late October 2011.
 

Emirates NBD Signs Strategic Partnership With Arabian Automobiles

• Customer-focused initiative – buyers can own new vehicle every three years
• Lower monthly payments compared to traditional car finance
• Guaranteed minimum future vehicle buy-back value of 50 per cent after three years

In line with its long-term commitment to initiatives that benefit its customers, Emirates NBD, a leading bank in the region, announced today a strategic tie-up with Arabian Automobiles, the sole distributor of Nissan Cars in Dubai and the Northern Emirates.

The new agreement will enable customers of new Nissan passenger vehicles to upgrade their cars once every three years through the new guaranteed ‘buy-back’ programme, ‘Nissan Freedom’. In addition, customers availing of an Emirates NBD auto loan will pay lower monthly installments towards their new purchase.

Vehicle buy-back under ‘Nissan Freedom’ is guaranteed by the dealer at the end of the three year term. Customers have the flexibility to upgrade, hand back or continue with the vehicle loan based upon their individual need.

"Emirates NBD offers innovative solutions with strategic partners in order to better serve our customers," said Abdulelah Al Kindy, General Manager – Retail Banking, Emirates NBD. "This new agreement with one of the longest-established automobile distributors in the country will make purchasing a new Nissan vehicle more attractive than ever before. We are delighted to enter into this partnership and look forward to a long-lasting and rewarding relationship."

Mr. Felix Welch, Director Sales & Marketing Arabian Automobiles, said: “We are delighted to be entering into this strategic partnership with the country’s leading bank. With help of Emirates NBD we have been able to make our latest Nissan Freedom finance product both highly appealing and flexible for our customers who are looking for an alternative to traditional bank finance. We hope this agreement paves the way to even greater links between our two institutions.”
 

Mikyajy Signs Star Brand Ambassador

Mikyajy, one of the fastest growing cosmetics brands in the Middle East, today announced the signing of its Star brand ambassador in a deal that includes an advertising campaign and a number of public appearances.

Mikyajy’s executives would not reveal who the star is and stated that she would be revealed at ‘Mikyajy’s Beautiful Concert’ in Dubai on January 19th, 2011.

“After weeks of intensive surveys, meetings and interviews, we are very happy to an-nounce that we have found our Star brand ambassador,” said Kamal Jamjoom, Mikyajy Founder and CEO of Kamal Osman Jamjoom Group LLC. “We have planned an amazing launch event on January 19th, 2011, the ‘Mikyajy Beautiful Concert,’ where our Star will be revealed to the region and the world. The concert will see our star perform live before an exclusive VIP guest list and leading media personalities.”

Jamjoom said that Mikyajy fans and consumers will be able to attend the concert either in person or ’virtually’. “‘Mikyajy’s Beautiful Concert’ is meant to entertain and inspire our customers around the region. We have a plan to make the concert accessible to the re-gion, so I urge our fans to keep an eye out for hints on our Facebook, Twitter and You-Tube pages, as well as the Mikyajy website.”

Mikyajy launched a full online social media campaign targeting its customers and fans across the Middle East. A series of quizzes and competitions are being run to better engage Mikyajy’s target audience and allow a few lucky winners the chance to attend the concert.

Guests are set to experience the full strength and appeal of the Mikyajy brand at the concert, which is promised to be very experiential and entertaining. The evening will consist of music and entertainment and end with a lavish dinner.

“We always love to surprise our customers and the ‘Mikyajy Beautiful Concert’ will be full of surprises! Our guests will enjoy a live performance from young and rising star who will open for Mikyajy’s Star brand ambassador. The concert is just the start to an eventful 2011 from Mikyajy,” concluded Jamjoom.
 

Du Signs Exclusive Agreement With Mohammed Bin Rashid School For Communication At The American University In Dubai

Uniting to broaden educational horizons for students in the UAE, du today signed an agreement with Mohammed bin Rashid School for Communication (MBRSC) at the American University in Dubai (AUD) to provide a high-speed 100 Mbps broadband internet connection to students. The agreement was signed by du CEO Osman Sultan and Ali M Jaber, Dean of Mohammed Bin Rashid School for Communication at AUD. The high-speed internet connection will enable AUD MBRSC to offer real-time video streaming for education and training purposes, and meet its other internet-based needs.

“We are delighted to support the Mohammed bin Rashid School for Communication at AUD, which is emerging as a leading school in the field of mass media and communication. Supporting education is at the heart of our CSR strategy, and using our expertise in telecoms we are striving to enhance and improve the development of young people in the UAE. By offering a superior internet connectivity we believe AUD MBRSC students will be able to connect with the world quickly and efficiently,” commented Osman Sultan, Chief Executive Officer, du.

du’s 100 Mbps broadband connection will be used to support the new multimedia programmes that AUD MBRSC will be offering. These programmes involve digital editing and productions, multimedia streaming, film editing and uploading, broadcasting and online multimedia learning and teaching. The enhanced connectivity will meet the school’s bandwidth-intensive activities, including video streaming, remote access and interactivity.

The communication field is probably the fastest developing field in the world. Keeping up with its rapid transformation is the duty of every academic institution keen on providing proper journalism and communication education.

“Internet and new media, we believe, will be the backbone of every communication platform in the near future, and therefore it is only natural for us to seek partnership with du – one the most prominent telecommunication company in the Arab world, to provide us with the required bandwidth that will enable our students to explore the new capabilities modern technology will bring. Our students will be on an information super highway that will enable them among other things to converse via video and attend distance learning classes in crisp quality,” commented Ali M Jaber, Dean, Mohammed Bin Rashid School for Communication at AUD.

An average household in Dubai uses about 1 MB of internet link and a small to medium sized company in Dubai would use around 30-50 MB. Therefore, 100 Mbps will change the way communication is taught and allow the MBRSC students at AUD to further their education in Communication and Information Studies with on-the-spot downloads and smooth and quick internet browsing while in class.

 

Dubai Electricity And Water Authority Signs 5 Contracts For New Projects As Part Of WETEX Exhibition, At A Cost Up To One Billion Dirhams

On the second day of The activities of the 13th Water, Energy, & Environment Exhibition 2011 (WETEX), Dubai Electricity and Water Authority (DEWA) celebrated the signing of 5 new contracts for power and water projects in a bid to support its infrastructure and boost the efficiency of grids and networks to meet the growth of demand for its services. This comes in line with the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai.

The contracts were signed by HE Saeed Mohammed Al Tayer MD & CEO of DEWA representing Dubai Electricity and Water Authority with the representatives of DEWA’s partners and contractors’ which were selected to execute these contracts.

At the beginning of the ceremony, HE Saeed Al Tayer stated, “I would like, on this occasion to welcome DEWA’s partners and contractors who have cooperated with it for years to execute its projects in different sectors. And today, we are here for the signing of more contracts for new projects.”

HE Al Tayer pointed out that DEWA assumes its responsibilities in line with the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and prime Minister of UAE and Ruler of Dubai, and in compliance with DEWA’s strategy, which is part of Dubai’s strategy aiming to provide reliable infrastructure capable of meeting all the requirements of electricity and water necessary for the march towards development. These directives are being executed according to a systematic approach to meet the growth of demand for DEWA’s services.

“We are here today to sign 5 contracts for new big electricity and water projects at a total cost up to one billion Dirhams,” HE Al Tayer further added.

The first contract includes the construction of AL Ghafat Reservoirs Phase 1 & 2 with capacity of 120Million Imperial Gallons (MIG) and at a total cost of AED 285,000,000. The contractor of this contract is M/s Pratibha Industries Ltd.

The second contract was signed with M/s APINA, Spain, to set up and construct an inlet air chilling for Gas Turbines at “L” Station , Phase I at Gebel Ali. After completion of this project, DEWA will generate additional power of approximate 108 MW from 3 Gas Turbines from “L” Station at peak summer season and it will improve efficiency of Gas turbines.

 As for the third contract, it includes 132 KV cable laying works at a cost of AED 100,000,000 and at total length of 230 km. The contractor of the project is M/s Emirates Electrical Engineering LLC.

The fourth contract was made with M/s Siemens LLC. It includes the supply, installation, testing, commissioning of five Nos. series reactor stations at generating stations with 400 KV OHL, at a cost up to AED 372,000,000.

The fifth contract was signed too with M/s Siemens A.G, and it relates to the supply, installation, testing and commissioning of SCADA/EMS/DTS system for transmission control centres, at a cost up to AED 97,000,000.

At the end of the ceremony, HE Saeed Mohammed Al Tayer MD & CEO of DEWA stressed the importance of executing such projects according to contractual time schedules so that they can be duly put into service. Meanwhile, HE pledged that Dubai Electricity and Water Authority will provide all possible facilities to contractors to ensure that these projects will be properly executed in compliance with environmental standards, on which it places higher priorities.
 

Najd Investments Signs GCC Regional Advisory And Arrangement Mandate With Allcargo Global Logistics

Najd Investments Limited (Najd Investments) announced today that it has been mandated by Allcargo Global Logistics Limited (Allcargo) as Advisor and Arranger for the company’s expansion within the GCC region. Najd Investments will advise on all financial, strategic and investment matters for the project.

Najd Investments is a privately owned investment firm registered in the Dubai International Financial Centre (DIFC), and is regulated by the Dubai Financial Services Authority (DFSA). Najd Investments carries out Advisory and Arrangement activities with a special focus on Joint Ventures and entrepreneurial private enterprises.

Allcargo Global Logistics Limited is a leading multinational company providing integrated logistics solutions. The company is one of India’s largest publicly owned logistics company, being listed on the Bombay Stock Exchange and The National Stock Exchange of India.

The company offers specialized logistics services across Multimodal Transport Operations, Container Freight Station Operations and Project Engineering and Equipment Solutions. Benchmarked quality standards, standardized processes and operation excellence across all the services and facilities, have enabled the company to become a market leader in all these segments.

His Highness Prince Abdulmohsin Bin Abdullah, Chairman of Najd Investments said: “We are very pleased to have been chosen by Allcargo as their advisors and arrangers for this project. There is a gap in the regional market with a clear demand for their services. The region is witnessing tremendous growth and we at Najd Investments are focused, through our offerings, on creating market leading companies that can capitalize on this growth.”

Mr. Shashi Kiran Shetty, Chairman and Managing Director of Allcargo commented that “We have been active in the GCC for a significant time now and believe further strategic focus is important for our global expansion strategy. Regions with high growth and positive investment environments continue to be a target for our expansion.” Mr. Shetty further added: “When compared with more mature markets, the region has significant opportunities to increase our offerings in the general Logistics field in the areas of LCL, CFS/ICDs, warehousing, project logistics and specialized equipment rentals on par with global standards.”

 

Public Transport Agency Signs Strategic Partnership Agreement With Double Decker Bus Tours

Roads & Transport Authority – Nashwan Atta’ee:

The Public Transport Agency, Roads & Transport Authority (RTA) has recently signed a Strategic Partnership Agreement with Double Decker Bus Tours LLC providing for the two parties to draw up joint strategies and plans to link the services of the Big Bus of Double Decker Bus Tours LLC; which is subject of a huge attention from a wide spectrum of visitors and tourists pouring in Dubai from various corners of the globe, with RTA’s marine transit modes; in a step aimed to boost the marine transit service in the Emirate.

In a gathering held by the two parties at RTA’s Head Office, Umm Al Ramool, the Agreement was signed on behalf of the RTA by the CEO of RTA Public Transport Agency Eisa Abdul-Rahman Al Dosari, and on behalf of Double Decker Bus Tours LLC by the General Manager Chris Crompton.

Speaking on the event, the CEO of Public Transport Authority Eisa Abdul-Rahman Al Dosari said, “Through signing this partnership Agreement, the Public Transport Agency will work with Double Decker Bus Tours LLC to achieve a host of objectives and strategic goals which will be to the benefit of the tourist marine transport, reflect positively on the economic & social fields, and boost the tourist industry of the Dubai Emirate. This will be materialized through Double Decker Bus Tours LLC directing its tourists arriving in Dubai to use the Water Bus in their travels within the Dubai Emirate; which will enrich their tourist experience in an enjoyable and comfortable manner.

“The Public Transport Agency will offer tourists dispatched by Double Decker Bus Tours LLC the opportunity of riding the Water Bus and treating themselves to an enjoyable marine cruise between the two shores of the Dubai Creek,” added Al Dosari.

For his part, the General Manager of Double Decker Bus Tours LLC Chris Crompton expressed his extreme pleasure over the signing of the Agreement with the Public Transport Agency saying: “We are excited to support this strategic initiative of the RTA and take part in building the future of Dubai through signing this Agreement with the Public Transport Agency which will enable us have an effective contribution in boosting the public transport network and tourist marine transport; which in turn will help boost the profile of Dubai in the tourist map of the region and the world over.

“Double Decker Bus Tours LLC will play a vital and key role in achieving this joint objective through promoting the Water Bus and Water Taxi services among its clientele of tourists and visitors, and the Co. will showcase the Water Bus and the Water Taxi services in its leaflets and brochures where a jointly agreed fare will be applied.
 

Dubai International Boat Show Signs Largest Collection Of The Worlds Leading Shipyards

Dubai International Boat Show, the region’s largest and longest running boat show, will be hosting the biggest cluster of Superyacht Builders Association (SYBAss) members in the show’s history. Amels, Benetti, Burger Boat Company, B.V., Fincantieri, Heesen Yachts, Lürssen, Oceanco, Sanlorenzo and Trinity Yachts have all confirmed their participation at the upcoming 19th Dubai International Boat Show at the Dubai International Marine Club – Mina Seyahi from 1 – 5 March 2011.

A super-yachting index, compiled by the Luxury Institute with yacht broker and charter company Camper & Nicholson’s International, shows that around thirty per cent of the world’s superyachts are owned by Middle East residents. On average, the largest superyachts in the world have been delivered to the Middle East with an average length of 50 metres, making the Dubai International Boat Show the natural choice for SYBAss members.

Grant Burgham, Director, Dubai World Trade Centre, organiser of the event said: “This display of the world’s foremost superyacht shipyards is an indication of just how important the Dubai International Boat Show is on a global stage. The Middle East is home to some of the highest net worth individuals in the world, and the market is perfect for the high end marine leisure industry. The superyacht manufacturers attending this year’s show will be met with a highly receptive audience and it is an excellent opportunity for the superyacht buyers in this region to connect with the elite of the industry.”

With more than US$ 35 billion worth of waterfront projects in the pipeline across the Middle East, the event will draw more global interest than ever before from the industry’s leading luxury products and service providers.

The dedicated luxury Marine Display area will feature the industry’s most elite and illustrious brands from around the world, establishing the multi-award winning show as the Middle East’s premier leisure marine event. Visitors will be able to see magnificent yachts at the Enhanced Superyacht Boulevard exclusively reserved for the showcasing of superyachts of 25 meters and above.

Visitors, including regional and international buyers, royalty and VIP’s will be able to experience the unveiling of brand new boats and marine products at the show in a luxury environment. The show is expecting to maintain its record of global launches and regional premieres, with more than 20,000 buyers, trade professional and enthusiasts, and more than 700 industry leading exhibitors expected to record multi-million dollar onsite sales.

Dubai International Boat Show 2011 will include international exhibitors and brands such as Al Dhaen Craft, Al Hareb Marine, Al Masaood Marine, Al Shaali Marine, Al Yousef (Yamaha), AMIT, ART Marine, Australian International Marine Export Group, Azimut, BehneMar, Danish Yachts, Delma Marine, Ecoseas, Greenline Yacht Interiors, Garmin, Gulf Craft, Gulf Development Systems, ICE, IMG Boats, Luxury Sea Boats, Macky Marine, Majesty Yachts, Mourjan Marinas, Officine Panerai, Pino Meroni, Princess Yachts, Raymarine, Sessa Marine, Sunseeker, UBIFrance, Westport and many more.

Other dedicated areas include the Enhanced Superyacht Pavilion, and a Luxury Supplies and Services Area which features the finest luxury interior designers, services and products suppliers. Together with supporting partner Officine Panerai, manufacturers of world class timepieces, the event will accommodate the entire lifestyle and business cultures of yachting and watersports. The only dedicated diving exhibition in the region, Dive Middle East Exhibition, will bring together international manufacturers and local suppliers of sub-aqua diving equipment and services, with live demonstrations and daily ‘try-a-dive’ sessions.

The Dubai International Boat Show 2011, will be held at the Dubai International Marine Club – Mina Seyahi from 1 – 5 March 2011 and will open to trade visitors and the general public from 4:00pm – 9:30pm daily.

For more information www.boatshowdubai.com
 

Further Signs Dubai Property Market Is Stabilising

For the first quarter in nearly two years there has been a virtual stabilisation with slight declines in certain areas according to the Q1 2011 report from leading UAE property management company, Asteco.

Apartment rentals averaged a decline of 2% over the quarter, though drops of as much as 5% and 7% were seen in selective areas. Discovery Gardens and Dubai Marina fell 6% and 4% respectively, but with high transaction activity due to their favourable locations and increased affordability.

“The rental market stabilised in certain areas, with a downward trend in others, albeit at a lower rate. This is attributed to the pressure of new stock on the already oversupplied market, especially for apartments and offices. Internal movement is still high and is predominantly driven by a flight to quality and value for money,” said Elaine Jones, CEO, Asteco Property Management.

Overall, the report found these declines herald more rental declines in coming quarters, fuelled by various factors including tenants capitalising on lower prices by moving to more upscale developments. Increased supply in both Dubai and Abu Dhabi is also having an impact on rents, seeing some tenants who had commuted to Abu Dhabi from Dubai moving to the capital.

Villa rentals fared better, showing virtually no change since last quarter. Demand in secondary locations has increased as better prices and improving infrastructure boost value for money. The report found downward trends in villa rentals was set to continue, with more supply to be handed over in coming months.

Apartment sale prices also show continuing signs of stability, with prices having eased by 1% in the sector during the first quarter of 2011, with the decline slowing further from the 4% seen in Q4 2010. While the figure represented an overall trend, the report emphasises the depth of the Dubai market, characterised by a wide choice of high- to low-end properties in primary and secondary locations.

“The Dubai property sector is a dynamic market, with different areas and qualities catering to the various sectors of the market. While sales price trends for the last quarter were down, the decline is continuing to slow, as in previous months,” said Jones.

Demonstrating the variations, DIFC has seen prices reduce by 7%, attributed in part to the handover of new buildings. Falls here are also a result of landlords’ attempts to attract investment and increase transaction activity by lowering prices. Apartment sales figures in The Greens were down by 3% due to investors opting for nearby developments with more mature infrastructure and fewer congestion-related access problems.

“Transaction activity is on the rise, and as sentiment increases this will continue, with returning stability also aided by finance becoming more readily available,” added Jones.

No change was seen across villa sales, with low transactional activity continuing due low private investor interest. While further minimal declines are expected, Asteco’s report indicates improvements should be seen as improving economic prospects increase finance availability and down payments become more affordable.

Significant falls in office rents continued, at 10% over the Q1 2011, though at half the 20% decline seen in the previous quarter. The slowdown is the result of both domestic and international factors, including the country’s ongoing political stability, strategic location and attractive business environment, particularly amid the turmoil of some parts of the region. Businesses continue to move into Dubai from both international locations and other parts of the UAE, particularly the Northern Emirates.

“The UAE’s political stability, well-established financial credentials and strategic location at the crossroad of the east and west has always attracted inward investment and currently could well be viewed by many as a safer haven,” added Jones.

In office sales, transactional activity remains subdued, with prices dropping 3% over the quarter. JLT declined 4% as new supply continues to be delivered, but showed some of the highest transaction activity. The report attributes the ongoing slow-down to companies continued austerity in adopting asset-light strategies to reduced business fixed cost.

For more details, please visit www.asteco.com

Watch out for Asteco premium content reports online coming soon.

For more information please visit www.astecoreports.com