Dubai’s real estate review to come by year end

The results of Dubai’s huge review would be released by the end of year according to Dubai’s real estate watchdog. Marwan Bin Ghalaita, CEO of Dubai’s real estate regulatory agency said that projects which are yet to be started are also under review.

The regulator would test contractors based on viability of project and their business credentials. Final approval will only be grated to projects fulfilling the regulatory guidelines, auditing system and standard construction norms.

Ghalaita said, "If developers don't have enough money to start construction or if they don't have experience or enough knowledge in real estate development, then they should not start the project. We are saving them, the industry and the business environment."

Abu Dhabi, Dubai to link visa renewal with ID cards soon

Abdullah Al Kindi, Operations Director at the Emirates Identity Authority (EIDA) said on Monday that issue and renew of residency visas will be linked with national ID cards in Ras Al Khaimah, Umm Al Quwain and Fujairah. He said that this new service of 2011 will at first include these two emirates and other emirates where most of the expatriate community resides like Abu Dhabi and Dubai will be included under the new service in the forthcoming months.

Al Kindi , talking to Khaleej Times on the marginal issues of the ‘ID World Abu Dhabi said that for obtaining residency visas, it will be important for persons after completing the preventive health examinations, to register themselves for the EIDA ID cards.

End of Etisalat's monopoly

Twofour54 deal will give the first time opportunity to choose between the telecommunications providers Etisalat and du by breaking Etisalat's monopoly.

At present, few areas of Dubai like the Dubai Marina and certain free zones are offered with du fixed line services. But now the operator has signed a memorandum of understanding with twofour54 to supply fixed-line telephone and broadband services to businesses operating in the media zone.

In 2010, residents of Burj Khalifa in UAE were the first to choose their broadband provider.

While twofour54 deal has made it possible for duo to, offer its primary fixed-line and broadband services in Abu Dhabi.

Dubai Customs introduces new custom charter

Dubai Customs expressed commitment for offering high quality customs services to all those visiting the nation through air, land or sea links. The department recently launched "Dubai Customs Passenger Charter" in line with its initiatives to offer world class services the visiting passengers.

Dubai Customs has introduced a framework for passengers clearly defining passengers' rights and duties with regards to customs services. It also introduced a mechanism for submitting suggestions, enquiries and complaints by the visiting passengers in line with the guidelines set under the ISO standards including 10001:2007.

RTA Chief for expediting work at Dubai tram project

Mattar Al Tayer, the Chief of Dubai transport, has directed the concerned authorities for expediting the Al Sufouh tram project.

The RTA's chairman and executive director said that message has been conveyed to with contractor, the Alstom-Besix Consortium for speedy completion of the project, 30 percent of which has been completed till now.

Work on the project was started in January at a time when financial crisis grappled the region. Al Tayer said, "The RTA has agreed with the Alstom-Besix Consortium to step up the work tempo in the project, the first stage of which is set for completion in 2014."

HH Sheikh Mohammed Bin Rashid extends rousing welcome to British Defense Secretary

British Defense Secretary Liam Fox got a warm welcome from Vice-President and Prime Minister of UAE and Ruler of Dubai His Highness Sheikh Mohammed bin Rashid Al Maktoum at a function held at the Zaabeel Palace. The British Defense Secretary is visiting the country along with a high level delegation from England for expediting co-operation between two nations in the field of Military setup.

They discussed various issues of mutual interest and expressed satisfaction over the current level of relations in various fields.

Dubai's Depa records $53.9m net loss in previous year

Dubai based interior contractor Depa Ltd has announced its financial figures for the year 2010 reporting a net loss of $53.9m. Firm’s operating loss, according to a statement posted on Nasdaq Dubai, stood at AED3.8m for the year.

Mohannad Sweid, Chief Executive, termed the year 2010 as "recession year" for the firm and said that it had seen a very challenging period. He, however, projected rosy picture of the future adding that it would return to profit in the coming period. He was relying on impending infrastructure projects and hoped that the forthcoming FIFA World Cup would definitely push its growth.

RERA to review real estate units

RERA to review real estate unitsThe Real Estate Regulatory Agency (RERA), Dubai’s real estate watchdog, said that it is in the process of financially reviewing about 90,000 real estate units. There project would be tested on their viability before they actually delivered in the market.

Marwan Bin Ghalaita, the CEO of the body said, “We are reviewing more than 90,000 units that will come to the market from today to 2016. Some people do not like the word cancelled, they keep saying delayed, delayed, and delayed. Sometimes we have to face the truth and if a project is not good for Dubai then we have to admit and say it is cancelled.”

Aldar shares scales new heights

Aldar-PropertiesStrong conditions of global equities strengthened the market and pushed bellwether stocks in Dubai and Abu Dhabi. Shares of Aldar Properties, the Abu Dhabi developer, surged 4 per cent to stand at Dh1.55 making the firm top performer on the Abu Dhabi Securities Exchange (ADX). Investors made beelines for the shares amid buoyant sentiments prevailing in the market.

Kochi Smart City IT Project settled

KochiThe Kerala government on Wednesday entered into an agreement with its Dubai-based promoters for establishing the Smart City IT project in Kochi. This was a long pending project which was on halt due to some disputes between the two parties.

It is anticipated that Smart City project will generate direct employment for 80,000 people and indirect employment to another 20,000 people.

The dispute was regarding the land ownership but the dispute was resolved at the talks between Chief Minister V S Achuthanandan and Ahmed Homaid al Tajir, member of the Supreme Committee for Dubai World Group and Public Holding Group.

Want to return to India for another film: Sendhil Ramamurthy

Want to return to India for another film: Sendhil RamamurthyDubai, Dec 18 - Indian American actor Sendhil Ramamurthy, known for his roles in TV series like "Heroes" and "Psych", has shot for a film on the "noisy" streets of Mumbai. He says he would love to come back to India for another venture but not a "typical masala" film.

HCL Infosystems Acquires 60% Stake In NTS Group

HCL Infosystems Acquires 60% Stake In NTS GroupHCL Infosystems declared that it has purchased a 60% equity stake in NTS Group, a leading Dubai-based IT services and solutions company.

Though HCL Infosystems did not reveal the size of the deal, according to market analysts, it was around $6.5 million.

The acquirement of NTS will now assist HCL Infosystems strengthen its attendance in the Middle East and African markets.

Hydropolis: the underwater Hotel

Hydropolis: the underwater HotelHydropolis is basically a concept hotel that (if materialized) would comprise of 220-suite hotel, off the coast of Dubai, totally submerged in the Persian Gulf.

According to analysts it was a plan that was laid in 2006, delayed till 2008, and today is nothing more than a pile of blueprints. It was basically an idea where the gap between oceans and us could have been erased with its underwater architecture.

Israeli diplomat expelled by Australia over Dubai killing

Stephen SmithAustralia has expelled a diplomat of Israel for the killing at Dubai. Australia has accused Israel being behind the fake Australian passports matter which was linked to the Dubai murder case. A person named Mahmoud al- Mabhouh was killed in a hotel room in Dubai on 19th January.

The Foreign Minister of Australia has informed that these are not the behavior of a friend nation. UK has also taken the same action after finding Israel behind the fake UK passport in that plot. UK had expelled a diplomat of Israel in March.

Dubai Metro on top of quality in the world

Dubai Metro on top of quality in the worldThe service of Dubai metro is world class, but its quality is going to be more enhanced soon. The authorities are looking forward to introduce some better qualitative driverless metro systems in the country.

As per a recent survey report, the quality of Metro is the maximum in all across the globe. It has been found out that its service is even better than that of North East Line in Singapore and the Docklands Light Rail in London. It has scored around 99% in the quality rate.

Ramco Systems Signs Deal With Dubai Based Firm

Ramco Systems Signs Deal With Dubai Based FirmSoftware products and services provider Ramco Systems has inked a deal with Dubai-based trading and manufacturing group Tradeline in order to provide IT solutions on HCM and payroll management.

Under the contract, Ramco HCM and payroll solutions will amalgamate the operations of various business entities within the Tradeline group by offering up centralized payroll processing potentialities to the group companies that will help streamlining the HR process across all the business divisions of the firm.

But, no financial details of the pact were provided thus far.

Dubai to open 'World's biggest' airport for cargo

Dubai to open 'World's biggest' airport for cargo According to sources Dubai is going to open the 'World's biggest' airport for cargo during the next month. Dubai's second airport has been designed as the world's largest airport. It will be opened next month but for cargo only.

As per officials, it will receive passengers in the next year. Dubai Airport's chief has said that Dubai is going to have the largest airport with each and every facility soon.

Burj Khalifa’s observation deck reopened after it was shut due to elevator malfunction

Burj Khalifa’s observation deck reopened after it was shut due to elevator malfunction Two months after it was forced to close, the observation deck of the Burj Khalifa, world's tallest skyscraper has reopened in Dubai.

After an elevator malfunction left visitors trapped more than 120 stories above the ground in February, it was shut.

It was reported that the elevator got stuck between floors for 45 minutes before rescuers dropped a ladder into the shaft so those inside could crawl out.

Afcons completes the Dubai project ahead of schedule

Afcons completes the Dubai project ahead of scheduleA part of Shapoorji Pallonji Group, Afcons Mid-East LLC has completed its ad Al Sheba Race Course connectivity very much ahead of the planned schedule for the World cup horse racing event. In fact, the milestone becomes all the more cheerful as it comes amidst the Dubai economy is still striving very hard to get out of the real estate crisis situation.

Presvis sets for best in the 2010 Dubai Duty Free

PresvisThe 6-year-old gelding Presvis has made his presence felt in Europe and both sides of Asia in last few years. He is trained in UK by Luca Cumani and now ready for 1 1/8 miles on turf under a 16-horse field in the Group 1 Duty Free. The 2010 Dubai Duty Free is the premier turf event during Dubai World Cup day at Meydan Racecourse which would see best pool of talents from across the World.

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