Dubai Metro - GFDL/Producer
With the introduction of Dubai Metro beginning of September 9, Dubai residents and tourists visiting Deira City Centre will surely heave a sigh of relief. Endless waiting for cabs with poor faces will now be replaced with travelers confidently hopping on to the metro to catch up to their next destination.
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Kingfisher Airlines, an Indian-based air carrier, on Thursday launched its inaugural daily flight between Dubai and the southern city of Bangalore.
Kingfisher Airlines touches down at Bangalore airport
The air carrier, part of the UB Group headed by businessman Vijay Mallya, is a key player in India’s air travel industry.
The Dubai service is the airline’s fourth international destination after London, Colombo and Dhaka.
According to Siva Ramachandran, Vice-President for Global Sales at Kingfisher Airlines, other Gulf destinations are being considered.
“Points in Saudi Arabia are under evaluation, in terms of economics as well as regulatory approval,” Ramachandran said, adding that an Abu Dhabi flight was also being considered.
“We would not be operating here unless we were confident we would make money from it.”
The Bangalore-Dubai sector is expected to be busy, and likely to attract passengers travelling to southern India.
Kingfisher Airlines has a large network of connections to 50 Indian cities from its Bangalore hub. Ramachandran said the airline plans to roll out flights to other Indian cities from Dubai.
He said three destinations in the state of Kerala were being assessed.
“While Dubai is the business and leisure capital of the region, Bangalore is the heart of India’s multi-billion dollar IT sector,” said Richard Talian, Vice President for Strategy at Dubai Airports.
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Al Ain Stadium
Dubai will set up a committee to decide whether to bid for the 2020 Olympic Games and the World Expo that year, state media reported, the latest effort by the Gulf emirate to attract international attention and business despite its financial woes. Dubai’s ruler has relied on such large-scale global ambitions to help drive his territory from little more than a patch of sand fifteen years ago to the Middle East’s business, sports and tourism hub. But the emirate has been hammered by the global financial crisis, struggling with massive debt as its key business sectors have declined. Although the ruling Al Maktoum family has scaled back some of its development plans, it has managed to capitalize on its many sports investments to help weather the global economic downturn. It inaugurated a $120 million cricket stadium in April that has served as a home ground for Pakistan in five one-day internationals and a Twenty20 match against Australia. The lavish stadium is part of Dubai Sports City, a cluster of mega-venues that will stage sports and entertainment events and set up training facilities and specialized academies for golf, tennis, soccer, rugby, cricket and swimming. Under construction since 2002, the project’s managers say progress has been undeterred despite the economic crisis. The complex could be key to a bid for the 2020 Olympics, which will be decided by a committee decreed by Dubai’s ruler, Sheik Mohammed bin Rashid Al Maktoum, according to the official United Arab Emirates WAM news agency. The group will also decide whether to push to host the 2020 World Expo, a large public exhibition that has been held since the mid-19th century to showcase achievements in art, design, education and trade. “These two global events, the Olympic Games and World Expo, give us a sense of common purpose and play to our strengths,” Sheik Mohammed was quoted as saying by WAM late Sunday. Dubai is not the only Gulf sheikdom that has looked to an Olympic bid to raise its profile. Two years ago, Qatar unsuccessfully bid for the 2016 Olympics. Dubai has run far ahead of its Gulf competitors on the sports front by linking investment with a decade-long effort to attract tourists and entertain the Asian and Western expatriates that make up most of the emirate’s 1.5 million inhabitants. But while the emirate has earned high marks for hosting ATP and WTA tour tennis events, the Dubai Desert Classic golf tournament and horse racing’s Dubai World Cup, it jeopardized its reputation earlier this year when the UAE denied a visa to an Israeli tennis player for a tournament. The WTA Tour board ordered the Dubai Tennis Championships to pay a record $300,000 fine.
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Washed Out Desert, Dubai Skyline
Land transactions in Dubai has risen sharply during the first quarter of June 2009 reaching a peaked record of DH2.19 billion. Sales record exceeded Dh1.27 billion; according to the Land Department total value of mortgages during that period was Dh19.29 million.
A plot in the Shaikh Zayed Road area was sold for Dh124 million with 81 transactions registered to the Land Department.
Other plot that were sold for high value are: Jebel Ali for Dh34 million and other within the same area for Dh28 million.
21 transactions was registered for the Ranches area and the Emirates Hills had 17 sales.
The Al Aweer Second area 315,217 sqft plot went for Dh11 million as the biggest area sold
Shaikh Zayed Road had the highest turnover by value of Dh124 million, Jebel Ali area at Dh91.21 million and the Emirates Hills at Dh89.32 million.
652 sales transactions of apartments and villas in freehold areas were registered.
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View of Dubai Skyline
On Friday Dubai Media Office issued a statement that four large development groups: Emaar Properties PJSC, Dubai Properties LLC, Sama Dubai LLC and Tatweer LLC have started merger talks aimed at facing up to the current challenges and also to transform Dubai into a Global city. The big four collectively hold one of the largest land banks in Dubai.
Dubai Government investment arm Dubai Holdings controls Sama Dubai and Tatweer; Dubai Government has a share of 32.5 of Emaar properties which is completing Burg Dubai the World’s tallest Tower.
Emaar properties is been advised by Royal Bank of Scotland while Dubai Holdings is been represented by Merrill Lynch International.
In a communiqué released ; discussions are being held with the relevant regulatory authorities , assessment of merits in relation to the proposed merger, valuation of the various entities and structures of the transactions.
Mohammad Al Gergawi, chairman of Dubai Holdings, said “Consolidating these three companies with Emaar is a natural progression in the evolution of the Dubai real estate landscape, providing benefits to all stakeholders. By joining forces, we will give the larger combined entity an unparalleled platform to optimise opportunities in its domestic and international markets. The combined entity has a clear and concise strategy, better positioning Dubai as a world-leading hub in real estate development and management”.
Mohammad Ali Al Abbar, chairman of Emaar, said, “We believe that there could be exceptional synergies between Emaar and Dubai Holdings’ key real estate businesses. These comprehensive discussions are driven by a shared vision regarding the consolidation of our respective visible success stories to date and the creation of a world-class group which would be ideally positioned to dynamically help shape and support the ongoing development of Dubai as a world-leading hub. We look forward to working with Dubai Holdings with a view to completing these discussions soon and ensuring value accretion to our existing shareholders”.
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