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Dubai News
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The World Of Motorsport Descends On Dubai
Dubai hotels are brimming with motorsport professionals and racing aficionados that have descended on the city for this weekend’s Grand Racing at Dubai Autodrome. Arriving at the airport visitors without hotel bookings are being told that finding a room is a tough ask as team personnel, race officials and fans, some fresh from the Bahrain GP, are in Dubai for Grand Racing
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Better building designs and green initiatives critical to cut CO2 levels
The right mix of appropriate design and greater use of energy saving technologies can substantially reduce carbon dioxide (CO2) emissions from the building sector, which accounts for 30-40 per cent of global energy use, according to the world's top building expert.
"With rapid urban development worldwide, dense and more concentrated cities are widely seen now as an essential part of a more sustainable way of life," said Antony Wood, executive director of Council on Tall Buildings and Urban Habitat (CTBUH).
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Twin Dubai projects to add over 10,000 hotel rooms by 2015
The Dubai World Trade Centre's (DWTC) two major commercial destination projects - Dubai Exhibition City and Dubai Trade Centre District - will add more than 10,000 hotel rooms to the UAE's overall capacity when all phases of development are completed by 2015.
Helal Saeed Al Merri, director-general of DWTC, said: "Both our integrated mega-projects will not only work as standalone commercial destinations that will attract greater number of business travellers to Dubai, but will also make a significant contribution to the city's overall hospitality infrastructure."
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Islamic finance income boosts Tamweel's annual profit 195%
A 285 per cent surge in fourth quarter earnings has helped Islamic mortgage lender Tamweel to record a 195 per cent increase in its annual net profits to Dh451 million last year, up from Dh153 million in 2006, excluding Dh699 million of income from IPO proceeds in 2006.
For 2007, earnings per share rose to Dh0.451 compared to Dh0.2 in 2006.
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DreamWorks to build theme park in Dubai
DUBAI: DreamWorks, the American studio behind such box-office hits as the animated film "Shrek," is to build a theme park in Dubai, the daily The Khaleej Times reported Sunday.
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Dubai Business News
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A golden alternative to the dollar
The UAE Central Bank is now to be saying that there is no chance of a revaluation of the dirham before a GCC currency union in 2010. Logically anybody who has been holding dirhams hoping for a revaluation to correct the 37 per cent loss in value since 2002 should now be looking for an alternative.
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Dubai to buy a stake in Dell
Dell Inc. said it is in talks with a government-owned entity in Dubai about establishing a joint venture to further increase the personal-computer maker's sales in the Middle East
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DIFC will be Islamic finance hub
The Dubai International Financial Centre (DIFC) is creating new infrastructure as part of its efforts to become a global Islamic finance hub, a senior official said on Thursday.
Chief executive officer Nasser Al Shaali said Dubai wants to take advantage of both the "demography and geography" of the region to achieve this goal.
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First Copthorne hotel opens in the UAE
Millennium Hotels and Resorts on Thursday opened the doors of the first Copthorne Hotel in the UAE.
Copthorne Hotel Dubai is located in Port Saeed, Deira just five minutes' walk from the shopping and entertainment complex, Deira City Centre, and ten minutes from the Dubai International Airport, overlooking the picturesque Dubai Creek.
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Dubai hotel revenues soar 16% to Dh12.5b in 2007
Hotel revenues in Dubai, the Gulf's largest tourism destination, grew 15.74 per cent touching Dh12.5 billion in 2007, up from Dh10.8 billion in 2006, according to a top government official.
Khalid A. Bin Sulayem, director-general of the Department of Tourism and Commerce Marketing (DTCM), said Dubai's tourism industry is booming with stellar performance each passing year.
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Dubai Real Estate News
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Nakheel launches Blue Communities
Dubai: Nakheel has unveiled its plans for a major sustainability project, the Blue Communities, launched under the direction of His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai.
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Nakheel announces new multi-billion island project
Dubai: Nakheel, the developer of the three iconic palm islands and the World, is expanding Dubai's coastline with the launch of a massive real estate development, the Universe - which will spread from the Palm Jumeirah to Palm Deira.
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Amwal Al Khaleej buys 49% stake in Dubai Contracting
Amwal Al Khaleej, a leading regional private equity firm on Monday said it has acquired a 49 per cent stake in Dubai Contracting Company (DCC) for an undisclosed sum.
The acquisition was made through a special purpose vehicle (SPV) that is solely managed by Amwal Al Khaleej, AK XII. Investors in AK XII include Goldman Sachs and Credit Suisse.
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The World Islands in Dubai completed
Nakheel, one of the world's largest property developers, on Thursday laid the final stone on the breakwater for The World Islands in Dubai, completing the project five years after it was announced.
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Dubai to build first fashion island
Investment group Dubai Infinity Holdings (DIH) plans to create the world's first fashion island on the manmade The World archipelago being built of the coast of Dubai, the company said on Tuesday.
DIH said the multi-million dollar Isla Moda island would combine a fashion resort, themed residential villas, haute couture boutiques and luxury hospitality facilities. A spokesman for the company refused to reveal the island's exact value.
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