DAMAC Properties has awarded 25 construction and consultancy contracts worth AED3 billion in the first half of 2016.
Contract awarded include the main packages for more than 2,678 villas within its luxury lifestyle community; AKOYA Oxygen, as well as the main package for Golf apartment buildings at Carson — The Drive at AKOYA by DAMAC.
Ziad El Chaar, MD, DAMAC Properties, commented: “In AKOYA Oxygen, the total number of villas now awarded exceeds 2,670. The golf course design is completed and we are making progress in the selection of the golf course main contractor. The designs of several clusters are completed, several main contractors were appointed and work started in many areas on site. In AKOYA by DAMAC, the Golf course is completed and the handover of approximately 766 villas is imminent.”
“The drive to deliver luxury living lies at the core of DAMAC Properties’ mission. This is a very exciting time to be part of the Dubai real estate market resurgence as we look forward to working with top-notch contractors and consultants to ensure the delivery of our projects,” El Chaar added.
As of March 31, 2016, DAMAC Properties delivered over 15,800 homes, including approximately 2,000 hotel units. The company has a development portfolio of over 44,000 units at various stages of progress and planning, comprising more than 13,000 hotel rooms, serviced apartments and hotel villas, which will be managed by its hospitality arm, DAMAC Hotels & Resorts. With vision and momentum, DAMAC Properties is building the next generation of Middle East luxury living.
DAMAC Properties awards 25 deals worth AED3 billion in H1
DAMAC Properties awards 25 deals worth AED3 billion in H1
LuLu signs MoU to serve Indonesian Hajj pilgrims
LuLu Hypermarkets Saudi Arabia has signed an agreement with the Indonesian Hajj board to welcome Indonesian Hajj pilgrims with service and care. This landmark agreement highlights LuLu’s commitment to fostering international collaborations and delivering high-quality products and services to global audiences.
The MoU was signed by Shehim Mohammed, director of LuLu Hypermarkets, Saudi Arabia, and Harry Alexander, member of executive board, Hajj Fund Management Agency of Indonesia, known as BPKH. Other dignitaries present at the signing ceremony included Saleem V.I., chief operating and strategy officer/ executive director, LuLu Group International; Rafeek Mohammed Ali, regional director, LuLu Hypermarket, western region, Saudi Arabia; and Bagas Haryotejo, head of the Indonesian Trade Promotion Center in Jeddah.
“This new partnership will enable LuLu Hypermarkets to serve the needs of Indonesian pilgrims during their Hajj journey,” the retail giant said in a statement. “With its extensive network of hypermarkets across Saudi Arabia and its reputation for quality, affordability, and excellence, LuLu is well-positioned to provide tailored solutions that cater to the unique requirements of Hajj pilgrims.”
Saleem said: “We are honored to join hands with the Indonesian Hajj board to serve the needs of pilgrims during one of the most important journeys of their lives. This MoU reflects our commitment to excellence and underscores LuLu’s role as a trusted partner in the global retail industry. We look forward to supporting Indonesian Hajj pilgrims with the highest standards of service and care.”
Meanwhile, Alexander said: “Partnering with LuLu Hypermarkets, a brand synonymous with quality and reliability, is a significant step toward ensuring that Indonesian pilgrims have access to the best services during their pilgrimage. We are confident that this collaboration will set new benchmarks in meeting the needs of our pilgrims.”
SAB launches native plant conservation center in Qassim
Saudi Awwal Bank has inaugurated the Prince Faisal bin Mishaal Center for Native Plant Conservation and Propagation in the Kingdom’s Qassim region. The project was launched in collaboration with the Environmental Awareness Society as part of SAB’s contribution to the Saudi Green Initiative.
The inauguration ceremony was held under the patronage of Qassim Gov. Prince Faisal bin Mishaal bin Saud, who reviewed the progress of the project during the event. The ceremony was attended by Yasser Al-Barrak, chief corporate and institutional banking officer at SAB, and Dr. Abdulrahman Al-Alsoqeer, chairman of the Environmental Awareness Society.
This center, the first-of-its-kind in the Kingdom, focuses on preserving and promoting native plant species while increasing awareness of the importance of natural vegetation. It is equipped with facilities such as a training hall, a seed bank, plant nurseries, an herbarium, and a botanical garden showcasing key native plants of the Kingdom.
The center also prioritizes research, supporting researchers and postgraduate students in areas like desertification control and native plant conservation. As part of the project, a forest of 10,000 native trees will be planted around the center, contributing to the goals of the Saudi Green Initiative.
Al-Barrak said: “We are proud to be part of a ground-breaking national project, which reflects SAB’s dedication to its social and environmental responsibilities. Through this partnership, we aim to support Saudi Vision 2030 by contributing to environmental conservation and combating desertification. We are confident that this center will set a benchmark for preserving biodiversity in the Kingdom.”
Alsoqeer added: “The launch of this center marks a significant step toward achieving our environmental goals of preserving and enhancing the Kingdom’s natural vegetation cover. Through our collaboration with SAB, we aim to raise awareness about native plants, their importance, and efforts to propagate them.
“The project serves as an invaluable resource for researchers and postgraduate students. The patronage and support of Prince Faisal bin Mishaal highlight its significance and distinguished status on a national level.”
The facility will produce 200,000 native plant seedlings each year. It will also focus on collecting, preserving, and supplying high-viability seeds of native plants, especially those at risk of extinction, with the goal of boosting seed germination rates to more than 70 percent. Moreover, the project will support the propagation of endangered plant species using tissue culture techniques. It will also offer scientific and training support through workshops, research initiatives, and awareness programs, benefiting more than 10,000 participants annually.
The launch took place alongside the 16th session of the Conference of the Parties to the United Nations Convention to Combat Desertification, or COP16, held in Riyadh. This initiative highlights cooperation between the private sector, represented by SAB, the nonprofit sector, represented by Environmental Awareness Society, and the government sector, represented by the National Center for Vegetation Cover Development. It seeks to contribute to the goals of Vision 2030 and support the Kingdom’s efforts in environmental protection and sustainable development.
AMUOBA Jeddah marks Sir Syed Day with enthusiasm
The Aligarh Muslim University Old Boys Association — Jeddah Chapter commemorated the anniversary of Sir Syed Ahmad Khan’s birth at Crown Plaza, uniting 500 alumni and their families to honor his enduring legacy of education and community uplift.
Member of the Indian Parliament Zia ur Rehman Barq was the chief guest. He paid tribute to Sir Syed’s sacrifices, such as selling his house to establish Aligarh Muslim University. He described Sir Syed, founder of Aligarh Muslim University, as a transformative Muslim leader whose vision of education, literacy, and social uplift remains vital today and called for unity to advance this vision.
Guest of Honor Atif Hanif underscored the importance of continuing Sir Syed’s mission, describing it as a roadmap for progress. During his address, he presented the book “Shaikh Mohammed Abdullah: A Pioneer of Muslim Women Education,” commemorating the 150th birth anniversary of the trailblazer.
Popular Urdu poet and AMU alumnus Azhar Iqbal added to the event’s excitement with poetic reflections celebrating Aligarh’s timeless values and the transformative power of education.
AMUOBA President Aqeel Jamil reaffirmed the association’s dedication to Sir Syed’s vision of empowering generations through education and leadership. He outlined key initiatives, including the Youth Leadership Program, conducted in collaboration with Toastmasters International, which has trained 30 boys and girls in leadership and public speaking skills.
AMUOBA’s flagship initiative transforms the lives of underprivileged children in Aligarh by making quality education accessible. Through collaboration with Hamara School, the program offers direct opportunities for members to support a child’s education, creating lasting community uplift.
Dr. Zargham Zia, co-founder of Hamara School, highlighted the school’s impact over the years in transforming lives.
Additionally, the “Teach One, Employ One” program connects young alumni with industry leaders, who offer career guidance and job opportunities.
As a gesture of appreciation, mementos, and gifts were presented to dignitaries and attendees by advisers Farzan Rizvi, Nooruddin Khan, Aziz ur Rub, Ateeq Siddiqui, sponsors, and other committee members.
Earlier, the program began with a Qur’anic recitation by Fahad Zinjani, followed by senior alumni Syed Nematullah and Anjum Iqbal presiding as special guests.
General Secretary Prince Mufti Ziaul Hasan anchored the program with eloquent Urdu couplets that added warmth and elegance, while Vice President Asim Zeeshan delivered a heartfelt vote of thanks.
The event concluded with a soulful rendition of the university anthem “Taraana,” performed by the team of Siddiqui, Zeeshan, Hasan, Mohammed Sirajuddin, Rabnawaz Khan, Athar Rasool, and Nayyer Abbas, followed by a sumptuous dinner.
Urban development under Vision 2030 sees smart living on the rise
As Saudi Arabia undergoes unprecedented urban development, Vision 2030 is transforming Saudi Arabia’s economy and reshaping the lifestyle and living standards of its residents. The Kingdom’s young, tech-savvy population and a growing number of expatriates are driving the demand for integrated, sustainable, and technologically advanced residential solutions.
“Over the past decade, Saudi Arabia has witnessed a remarkable evolution in its residential landscape. Smart living is becoming a cornerstone of Saudi Arabia’s urban development strategy,” said Evgenia Naimat, general manager at Al-Nakhla Investment.
“The shift from isolated housing units to integrated communities equipped with smart and vibrant living solutions signals a transformative era,” she added.
Globally, a Deloitte study highlights that more than 75 percent of tenants prioritize smart technologies, such as automated lighting, climate control and remote security systems, when selecting housing.
The adoption of such technologies in the Kingdom’s real estate market aligns with its ambitious goals to position itself as a global innovation hub.
According to a recent report by Knight Frank, 67 percent of Saudi nationals express interest in mixed-use developments, valuing convenience, amenities and a sense of community over traditional housing models.
“Additionally, sustainability is now a critical component of the housing sector. As a key player in driving green innovation in real estate, the Kingdom has delivered on its commitment to sustainable development through key initiatives such as the Mostadam and the Saaf Certification Program,” said Naimat.
A 2023 survey by PwC revealed that 80 percent of Saudi millennials, which make up one of the Kingdom’s largest demographics, prefer environmentally friendly residential solutions and developers are increasingly integrating green spaces, energy-efficient designs and eco-conscious initiatives into their projects.
Integrated communities, offering a blend of residential, retail and leisure spaces, are quickly becoming a preferred choice for residents in Saudi Arabia.
Research by JLL shows that residents in such communities are 35 percent more likely to renew their leases, driven by access to curated amenities and lifestyle benefits.
“We believe that redefining residential living goes beyond offering a place to stay. It’s about creating an ecosystem that combines convenience, community, and sustainability and our goal is to be a community where residents feel truly at home while experiencing the best of modern and smart living,” said Naimat. “Al-Nakhla has set a benchmark in delivering lifestyle-oriented solutions. Furthermore, its sustainability initiatives, including energy-efficient designs and green spaces, lead the way in community-building.”
Award-winning communities like Al-Nakhla Residential Resort and Al-Sharq Village, both by Al-Nakhla Investment, exemplify how integrated communities can meet the growing demands of a modern Saudi lifestyle. The projects feature state-of-the-art smart apps that enable residents to manage services seamlessly and pay rent to community-focused amenities like 6,000 square meters of green areas, which blend natural surroundings within the urban environment. Other amenities include 23 swimming pools, a bowling alley, cinema, and various sports courts that provide ample opportunities for leisure and recreation.
As the Kingdom rapidly advances and progresses, driven by a massive influx of people from across the globe, communities like Al-Nakhla Residential Resort and Al-Sharq Village play a pivotal role in elevating living standards, contributing to Vision 2030’s goal of fostering a vibrant, innovative and inclusive society.
Karnataka state opens investment avenues for Indian expats in KSA, GCC
News Trail, a leading English daily with editions in Bangalore and Qatar, has collaborated with the government of Karnataka to host the NRI Investment Summit Roadshow in Saudi Arabia and the UAE. This initiative underscores Karnataka’s commitment to unlocking global investment opportunities and fostering economic growth.
The roadshow in Jeddah was held on Dec. 22 at the Park Hyatt. It will be held in Riyadh on Dec. 23 at the InterContinental Riyadh and in Dubai on Dec. 24 at the Grand Hyatt.
The government of Karnataka, led by Chief Minister Siddaramaiah, aims to connect with non-resident Indians in GCC nations, offering a platform to explore the state’s diverse investment opportunities.
With a minimum investment requirement of 50 million Indian rupees ($588,600), Karnataka is opening its doors to a world of possibilities across sectors such as micro, small and medium enterprises, tourism and wellness, IT, textiles, and agriculture.
The state, known as India’s “Silicon Valley,” contributes 8 percent to India’s GDP and leads the nation in IT exports, accounting for a staggering 40 percent. It has emerged as a hub of economic innovation, supported by its robust infrastructure, skilled workforce, and business-friendly policies.
Senior officials from the Karnataka government, led by Dr. P.C. Jaffer, IAS, secretary to government (budget and resources), Department of Finance; Vipul Bansal, secretary to MSME department; Nitesh Patil, director MSME; Dr. Rajendra, managing director — KSSIDC; and Varnit Negi, managing director, Karnataka Handloom Development Corporation; will deliver exclusive presentations on the state’s investment potential.
Attendees will have the opportunity to interact with top bureaucrats, gain insights into lucrative opportunities, and engage in discussions to facilitate investments.
“As a trusted voice in the GCC and Karnataka, News Trail is dedicated to fostering meaningful connections between Karnataka’s dynamic economy and the global diaspora. Through this partnership, we aim to amplify the message of growth, innovation, and collaboration that Karnataka stands for,” a press release said.
News Trail is edited by Rajendra Menon.
