S02 TRME 2 2022 News 1_Layout 1 28/02/2022 06:15 Page 4
News
Photo Credit : Department of Municipalities and Transport
THE DEPARTMENT OF Municipalities and Transport has revealed that the UAE capital registered outstanding real estate figures in 2021 with 14,958 transactions tallying to a total value of around US$19.47bn, reflecting the ongoing sustainable development and attractiveness of real estate investments in Abu Dhabi. As per the Department's real estate trading indices, the emirate's real estate sector recorded 7,262 sales transactions worth US$4.95bn and 7,696 mortgage transactions worth US$14.51bn. With 4.1 billion dirhams in real estate transactions, Yas Island topped the list, followed by Al Reem Island in second place with 3.2 billion dirhams. With 2.5 billion dirhams, Saadiyat Island came in third, the Forest Belt Al Jarf project came in fourth with 1.1 billion dirhams, and Khalifa City came in fifth with 915 million dirhams.
Abu Dhabi's real estate market had continued its sustainable growth.
HE Dr Adeeb Al Afifi, executive director of Real Estate at DMT, highlighted that Abu Dhabi's real estate market had continued its sustainable growth. He said, “The UAE capital has recorded very positive real estate transaction indicators over the past year, which is a testament to investors' confidence in the city. We look forward to providing more distinctive and innovative services and providing periodic data and information that will undoubtedly enhance the attractiveness of the Abu Dhabi real estate market.”
THE ABU DHABI Department of Economic Development (ADDED), in partnership with the Department of Government Support, represented by Abu Dhabi Digital Authority (ADDA), has activated the ‘Investor Journey,’ part of Abu Dhabi Government Services Ecosystem ‘TAMM.’ The highlyregarded journey is specifically designed to address the needs of current and prospective businesses, entrepreneurs and investors by reducing costs, offering seamless integration and an advanced service ecosystem to facilitate new business ideation and setup. Following Abu Dhabi’s lowering of setup and renewal fees by 93% to around US$272, and the cancellation of 71% of business setup requirements in 2021, in cooperation with 27 government entities, the ‘Investor Journey’ brings a fully digitalised experience, guiding investors through a range of services, with minimal physical touchpoints. HE Mohamed Ali Al Shorafa Al Hammadi, chairman of ADDED, stated, “Our commitment to controlling costs, reducing requirements, and enhancing government processes will always be at the forefront of our agenda. ADDED has already rolledout critical projects including phase 2 of the investor Journey which will integrate more services and business setup tools and features. Moreover, ADDED continues to undertake comprehensive reviews of direct and indirect costs, including regulatory and administrative burdens on the private sector in cooperation with both local and federal entities.” HE Ali Rashid Al Ketbi, chairman of the
Photo Credit : ADDED
Abu Dhabi Department of Economic Development launches ‘Investor Journey’
Abu Dhabi real estate transactions exceed US$19bn in 2021
The ‘Investor Journey’ aims to bring a fully digitalised experience.
Department of Government Support – Abu Dhabi, explained, “One of the main priorities for the government support sector is to enable and support an integrated and proactive digital government, facilitated through advanced and innovative solutions.” Among the many features empowering investors and business owners, the journey offers an informative ‘Simulator’ allowing them to seek clarity and instructions, ‘Licence Finder’ to help identify suitable legal forms and licence types, followed by an easy application process for obtaining trade names and licences. After which, investors can identify locations for their businesses via an interactive map by ‘Property Finder’, obtain digital contracts, Certificates of Conformity (CoC) by Abu Dhabi Civil Defence Authority, and facilitates bank account applications. As part of the launch phase, a partnership with Mashreq Bank was initiated, with further engagements to be announced.
Honeywell and solutions by stc to accelerate digital transformation projects in Saudi Arabia HONEYWELL AND SOLUTIONS by stc have signed a MoU to help develop strategic mega projects across the kingdom in support of Saudi Vision 2030 and its efforts to create a more diverse and sustainable economy and accelerate digital transformation. The MoU outlines the intent to collaborate on smart building, community and city projects as well as energy projects to deliver critical solutions to mega projects. The collaboration will enable Honeywell software platforms such as the Honeywell City Suite and Honeywell Forge Enterprise Performance Management solution to use stc’s cloud infrastructure to support project delivery. Abdullah Aljuffali, country leader, Honeywell Building Technologies, Saudi Arabia, said, “This
Technical Review Middle East - Issue Two 2022
Photo Credit : Honeywell
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Honeywell continues to play a vital role in supporting and advancing the kingdom’s industries.
effort furthers Honeywell’s experience in developing and supporting the execution of critical infrastructure projects, including smart communities and cities. With our combined capabilities, Honeywell and solutions can help enable the development of smart and sustainable city and community projects.” www.technicalreview.me
