13 minute read
NEWS
// AN UPDATE FROM AROUND THE REGION UPDATE
FOR NEWS, FEATURES AND MORE, VISIT WWW.CBNME.COM FOLLOW US ON TWITTER FOR BREAKING NEWS: @CBN_ME FOLLOW US ON FACEBOOK FOR UP-TO-THE-MINUTE BREAKING NEWS
PROJECTS AL MOUJ MUSCAT BEGINS CONSTRUCTION OF EXCLUSIVE MARINA APARTMENTS – “JUMAN TWO”
Al Mouj Muscat announced initial construction work has begun at its luxurious Marina-facing Juman Two apartments.
Located on the Al Mouj Muscat oceanfront and near some of the most soughtafter and well established community facilities, Juman Two offers a choice of 152 one- and two-bedroom contemporary living spaces from the ground floor manor apartments with stunning high ceilings on the water, to penthouse level apartments with views to the ocean and the longest view of the 400-berth Al Mouj Marina, creating a feeling of open space, privacy, exclusivity, and elegance. Juman Two is adjacent to promenade cafes and a few minutes stroll to the local parks of Al Mouj Muscat.
“We are delighted to announce the launch of construction at our latest residential offering – Juman Two apartments,” said Nasser bin Masoud Al Sheibani, CEO of Al Mouj Muscat. “We are thrilled that the demand for convenient and accessible luxury living has remained robust, and as a result, Juman Two is well positioned to address this need with its ample space and ultra-contemporary design. Again Al Mouj Muscat seems to have produced a product that has hit the right niche in the market. We are proud to now be able to deliver on our promise to our customers who have yet again shown their trust in the Al Mouj Muscat brand.”
The calming and expansive benefit of Marina living is a pervasive theme at Juman Two. Expertly crafted by select international architects and designers to meet the most discerning requirements, the apartments of Juman Two are equipped with the luxury and convenience of concierge services, a fully-equipped gymnasium and a reading lounge, as well as the modern amenities of the Marina-facing infinity swimming pool that blends
seamlessly into the sea and sits within a relaxed garden area, giving the property a serene feel.
“Our research demonstrates that Juman Two’s premium apartments meet the needs of a diverse crosssection of buyers, from young professionals with an active lifestyle to empty-nest residents maintaining an inspiring standard of living,” said Nasser bin Masoud Al Sheibani. “As the global economy bounces back gradually, we will see buyers and investors looking again for opportunities that offer both lifestyle quality and strong long-term value.”
Juman Two residents have access to a range of established amenities and facilities that Al Mouj Muscat delivers, including restaurants and cafés, four- and five-star hotels, a nursery, the stunning community beach, the nearby Greg Norman signature golf course, marina facilities, a more wellness-focused lifestyle, and additionally the much-anticipated Community Hub and masjid- the destination’s newest development, designed and created to be a place where people can connect, share and learn within a walking distance.
With most of the units being sold, Al Mouj Muscat anticipates that Juman Two apartments will be ready for handover by Summer of 2022.
REAL ESTATE 90% OF THE MIDDLE EAST’S LARGEST AQUARIUM AT AL QANA IS COMPLETED
Abu Dhabi’s most exciting upcoming destination, Al Qana is on track for construction completion by end of Q4 2020. Developed by Al Barakah International Investment, the UAE’s ultimate social dining, entertainment and wellness space, is being built at pace for citizens, residents and visitors to Abu Dhabi to enjoy.
The landmark location which will be Abu Dhabi’s newest waterfront destination, also revealed some of its progress milestones, highlighting the exciting realization of this iconic new addition to the Emirate’s architectural and social fabric.
Al Qana has so far cost over AED 1 billion to construct, under careful management by developers Al Barakah International Investment, and will be the next destination in the UAE to offer exciting entertainment and waterfront dining, all in a landscaped open-air environment.
Fouad Mashal, CEO of Al Barakah International Investment, and the leader behind Al Qana, said in a statement: “Al Qana will support the transformation of Abu Dhabi’s landscape. It’s a destination for the whole family where the great diversity of the capital will be celebrated.” He added: “The project has a clear plan and timeline in place despite the pandemic. By following guidelines from the relevant authorities, we have also successfully maintained very high health and safety measures for our office and construction site workers.”
Stuart Gissing, General Manager at Al Qana said in a statement: “We have managed to adapt to the situation and found new modes of working to ensure that there is continuity for the project’s construction and operations management. Now, more than ever before, Al Qana will be more relevant to the situation post-Covid 19 as people seek safe outdoor spaces and healthier lifestyle choices.”
CONTRACTS THE RED SEA DEVELOPMENT COMPANY ANNOUNCES MEDICAL SERVICES CONTRACT AWARD
The Red Sea Development Company (TRSDC), the developer behind one of the world’s most ambitious tourism projects, has awarded a contract for the provision of medical services during the initial construction phase of the project.
The contract was awarded following a competitive tendering process to medical services provider International SOS to provide all medical services across the development. The agreement ensures that the highest quality medical care and assistance is provided to the site’s estimated 28,000 construction workers as well as the project’s staff and visitors over the next two and a half years.
“As we strive to create a truly special tourist destination for visitors to enjoy, prioritizing the health and wellbeing of our employees and partners is of paramount importance,” said John Pagano, CEO of The Red Sea Development Company. “We are going beyond international guidelines and setting new standards for labor management in the region, by making sure that the environment our people work in, is safe and comfortable.”
Through this partnership, a 700 sqm central medical facility is being created within the specially designed Construction Village to provide a range of services including primary healthcare, occupational health services and emergency response. The central ‘hub’ medical facility, as well as satellite clinics at construction worksites across the development, are being created, managed, and operated by International SOS, ensuring that all facilities comply with Saudi Building Code.
Medical services are being delivered through mobile containerized facilities which can easily be relocated across the development as construction progresses. This approach not only allows TRSDC’s workforce to access facilities as required, but also leaves little to no impact on the environment.
By using containerized facilities, TRSDC is lowering the impact of additional de
velopment at the destination. Brian Spraker, Executive Director of HSE said, “As well as the safety of our workforce, sustainability is also a key priority for The Red Sea Development Company. We are striving to ensure that our impact on the natural environment is as minimal as possible and adopting these kinds of innovative construction solutions helps us achieve that goal.”
International SOS will oversee the staffing and governance of all clinics, streamlining operations and ensuring that remote areas have direct access to a high standard of care consistently achieved throughout the development.
Jörg C. Bünzel, the General Manager of International SOS noted how TRSDC’s approach to medical care is innovative for the industry and region: “Typically, contractors are each responsible for the medical care of their own workforce, which can lead to a fragmented system with inefficiencies encountered across a largescale development. TRSDC is removing the responsibility for medical care from the contractors and centralizing it with a single medical provider.”
POWER ACWA POWER ACQUIRES 4.99% OF SAMSUNG C&T’S SHARE IN HAJR ELECTRICITY PRODUCTION COMPANY
ACWA Power, a leading developer, owner, and operator of power generation and water desalination plants, signed a share purchase agreement with Samsung C&T to acquire 4.99% of its shares, with an option to purchase the remaining stake of Samsung C&T in Hajr Electricity Production Company (HEPC) – the project company running Qurayyah Independent Power Plant (IPP) in Saudi Arabia.
HEPC is currently majority owned by Saudi Electricity Company with a 50% stake, and through a holding company, the remaining 50% ownership is held by a consortium of ACWA Power; MENA Infrastructure Fund; and Samsung C&T with shareholdings equivalent to 22.49% (up from 17.5%); 15%; and 12.51% (reduced from 17.5%) respectively. With the purchase of the stake from Samsung C&T, ACWA Power will further solidify its position as the second largest shareholder after the Offtaker Saudi Electricity Company (SEC). The total cost of the project was USD 2.7 billion, with approx. 75% of financing through long term project financed debt and the remaining in the form of equity.
The project was signed in 2011 and units commenced power delivery to the grid in 2013 – marking the project as one of the world’s largest IPP combined cycle gas-fired power projects to date. With a net capacity of 3,927 MW, Qurayyah IPP is considered one of the most efficient projects of its kind in KSA. Environmentally, the project has the potential to save more than six thousand cubic meters of carbon emissions annually.
CONTRACTS KOOHEJI DEVELOPMENT REVEALS THE NEW NAME FOR ITS BAHRAIN BAY PROJECT TOWER A, ‘ONYX BAHRAIN BAY’
Kooheji Development, one of the largest Real Estate Developers in the Kingdom of Bahrain, revealed the name –‘Onyx Bahrain Bay’ for Tower A of freehold residential apartments for its project in Bahrain Bay. The ONYX Bahrain Bay has 42 floors and includes 400 freehold residential apartments.
The name “Onyx Bahrain Bay” (Tower A) is to distinguish it from Tower (B), which will be Hotel Apartments. The name “ONYX” is inspired from natural stones and onyx marble to reflect the uniqueness of the luxury materials used in the construction of the tower.
Eng. Mohamed Abdulghaffar AlKooheji General Manager of Kooheji Development said: “Since the launch of the project in April 2019 and offering its freehold apartments in Tower A, it has achieved high selling numbers, which reflects the investors and owners’ confidence in Kooheji Development real estate product.
“We remain committed to providing the highest return on investment for the owners and adding a distinctive real estate product in the kingdom of Bahrain real estate market, this iconic project in Bahrain bay represent the five decades of real estate projects development experience. We will be defining the luxury real estate project standards in Bahrain, especially that the project is in the most prestigious addresses in the heart of Manama, which is Bahrain Bay.”
PROJECTS PALMA HOLDING LAUNCHES OLIVARA RESIDENCES & PARK PROJECT
Palma Holding, one of the most prestigious names in the real estate industry, has announced the release of its AED 365 million Olivara Residences & Park — the first integrated community in Dubai Studio City. This new project marks the third collaboration between Palma and Hazel Wong, the renowned architect of Emirates Towers, Silverene Towers, and Serenia Residences among others. Leasing for the ready-to-move-in project has commenced offering residents a contemporary and distinct lifestyle.
Olivara Residences, a vibrant residential community, is made up of four low-rise buildings, which include 250 units comprising studio, one-, and two-bedroom apartments in addition to a clubhouse and a massive park. The project was designed with the well-being and discerning lifestyles of young families and individuals in mind, offering 100,000 sq. ft of a lush green park, play areas, a state-of-theart gymnasium, walking lanes, and access to Palma community bicycles. The clubhouse will be home to Innerfight, a leading performance & fitness club, led by The Marathon Man, otherwise known as Marcus Smith. A yoga studio and paleo café will also be part of the club, making it a truly elevated urban community.
In his comments on the
new project, Kareem Derbas, founder and CEO of Palma Holding, said: “Following our successful beachfront projects, Olivara Residences represents our first urban community. We saw a gap in the market for contemporary and trendy residences that cater to the young, working population who are looking for quality, urban living, with great facilities and competitive leasing options.”
“The project combines functional spaces with distinct finishes and details, combined with outstanding amenities, fitness facilities, and excellent leasing rates. Our aim is to consistently transform what it means to live and connect with the community,” he added.
Interior spaces at the project’s units were thoughtfully designed with large glass windows that allow abundant sunlight and extend park views into the living space. Each home also features a fully fitted Italian kitchen equipped with stainless steel appliances. Additionally, Olivara provides generous parking spaces for both residents and visitors.
Phase 1 of Olivara Residences is ready for move-in and open for viewings, with a number of unit types available for showcase. The second phase of the project is under construction and will be ready by summer 2020.
REAL ESTATE OECHSLER AND HP PARTNER TO SCALE 3D PRINTING APPLICATIONS FOR INDUSTRY LEADERS
OECHSLER, an engineering solutions provider and one of the largest parts manufacturers in the additive industry, and HP, the leader in industrial 3D printing solutions, announced a new alliance to help accelerate the mass production of 3D printed parts. The companies are working together across the product lifecycle, from new designs to final parts production, to develop breakthrough applications for customers in industries such as automotive, home and commercial appliances, and medical devices.
“As we continue driving the mass production of 3D printed parts we believe working with an industry leader like HP will enable our customers to take full advantage of digital manufacturing,” said Matthias Weißkopf, senior vice president of research and development, Oechsler AG. “With the advanced capabilities of HP’s production-grade 3D printing systems we can provide unprecedented levels of quality, speed, reliability, and cost savings. The opportunity to collaborate closely on every phase of the product lifecycle and jointly develop breakthrough applications with HP and our customers will transform industries.“
“The path to digital manufacturing requires a powerful and far reaching ecosystem of leading innovators and this new alliance with Oechsler is a significant step in the journey,” said Ramon
Pastor, Interim President of 3D Printing and Digital Manufacturing, HP Inc. “Oechsler understands what it takes to deliver value every step of the way — from application design to final parts production to post-processing and automation — and together we will grow and accelerate opportunities for our customers.”
At the center of the strategic alliance is the joint development of entirely new applications with market leading automotive, home and commercial appliances, and medical customers to create unique product designs, bring 3D printed parts to market faster, and unleash the full potential of additive manufacturing.
Oechsler has installed a fleet of industrial grade HP Jet Fusion 5200 3D printers in its factory in Ansbach, Germany. Leveraging the platform’s advanced capabilities, HP and Oechsler are working with customers to jointly develop new applications using a range of advanced materials enabled by BASF including the new HP 3D High Reusability Polypropylene (PP) and ULTRASINT® TPU01 thermoplastic polyurethane. Oechsler is also the first to use the joint post-processing solution developed by Rösler for the HP Jet Fusion 5200 Series. HP today also announced the first of its kind PP as well as an expanded industrial alliance with BASF.
A Smart Move For New Possibilities
New Quester’s flexibility makes it suitable across a variety of applications and segments such as general cargo, long haul and construction.
And now, ESCOTs’ added power and performance in New Quester means assignments can be carried out with increased fuel and driver efficiency.
Optimized specifications such as reduced tare weight allow you to carry more. And with the introduction of smart new connected features such as telematics, you can stay on top of your tough daily schedule.
