10 minute read
The Briefing
Mobility
Mobilising the Middle East
MIDDLE EAST Eduardo Montero, CEO Middle East of TK Elevator, discusses how intelligent mobility solutions can help cities achieve their smart and sustainability ambitions
As the world continues to evolve, the way people move in modern metropolises is transforming radically along with it. With high-rises reaching greater heights than ever and increasingly complex infrastructures becoming the foundation of urban lives, mobility firms are working closer than ever with architects and engineers to design state-of-the-art elevator and escalator solutions that make moving around cities, public spaces and buildings seamless and more sustainable.
Having established a presence in the Middle East region since 1982, TK Elevator (formerly known as thyssenkrupp Elevator) has leveraged decades of engineering expertise and user-focused innovation to get people where they need to go.
With the GCC – and the UAE in particular – rapidly moving forward with its sustainable and smart city ambitions, intelligent mobility solutions will be crucial to achieving them. Therefore, Big Project ME recently sat down with TK Elevator’s Middle East CEO, Eduardo Montero, to gain his insights on the company’s role in shaping the future of mobility within the region.
Could you tell us about some of TK Elevator’s projects in the Middle East? The Middle East is one of the most dynamic building and construction markets in the world, with iconic skyscrapers and unique projects constantly in progress – and we are proud to play a key role in many of them today, as we have been over the years. Our signature TWIN system has proven to be the mobility solution of choice here due to its unrivalled efficiency and space-saving advantages for tall buildings with heavy passenger traffic.
Featuring an industry-first, unique design with two elevator cars operating independently in the same shaft, it has received many accolades as a technological breakthrough in the industry, fortified further by a TÜV-certified four-stage safety system that is a testament to our German engineering heritage.
Currently, TWIN serves a variety of key buildings around the Middle East, such as the PIF Tower in Riyadh, NBK Headquarters in Kuwait City, Future Generation Reserve Fund Project in Manama, State Audit Bureau Towers in Doha, and Latifa Tower in Dubai – just to name a few.
Ideal solution
With there being many older, first-generation tall buildings in the Middle East, modern mobility solutions would be an ideal solution for them.
Innovation DNA
TK Elevator will continue to innovate and push its technical expertise through all its products, as it is part of the company's DNA, says Eduardo Montero.
1982
Our mobility solutions were also recently installed in the Lusail Stadium, where the final match of the FIFA World Cup will be held; the Lusail Plaza Towers project in the same city, which is set to be inaugurated soon, will also be proudly served by over 200 TKE units including 16 TWIN systems.
What service offerings and technology solutions does TK Elevator provide to the Middle East market? TK Elevator is the preferred one-stop solutions provider of many property owners and managers, as well as public and private entities around the world that manage a diverse portfolio of commercial and residential properties. On top of meeting our customers’ pain points, we strive to become their partner in growth by taking care of customers’ needs throughout the product lifecycle – from product and solution offerings to maintenance and modernisation service.
In terms of maintenance, TK Elevator has the capability to service elevators, escalators and moving walks of all makes, allowing our customers to reap the synergistic and cost benefits from economies-ofscale. Similarly, our modernisation service helps property owners create extra value for their properties.
Older buildings will benefit from modernisation in the form of vastly increased elevator passenger capacity without the need for additional elevator shafts, and in some cases increased property value and rental income. In fact, many older, first-generation tall buildings in the Middle East are due for overhauls and our modernisation service is the ideal solution for these projects, as the additional value it brings could be significant.
Speaking of projects in the Middle East, what are the latest trends you are seeing? Sustainability is one. Following movements in the larger industry, sustainability is driving the latest building trends in the Middle East. Developers and architects today are looking for solutions to build more energy-efficient buildings for our future generations – and greener mobility solutions are a key part of this outlook.
That’s why, we offer various energy and resources-efficient products to meet the needs of residential and commercial projects, one of TWIN’s two elevator cars can be configured to park during non-peak hours to save energy while maintaining seamless services, which offers a clear advantage in terms of flexibility and efficiency over conventional double-deck configurations. Our high-speed elevators can also be equipped with regenerative drives, which recovers energy generated by elevator operations, and feed it back into the building’s power grid.
200
TKE units installed in Qatar’s Lusail Plaza Towers including 16 TWIN systems
Connectivity is another prevailing trend. Our innovative MAX and AGILE digital solutions are set to pave the path forward for connected buildings, where real-time operations monitoring as well as predictive maintenance of elevators and escalators are made possible by IoT technology and cloud-based operation insights.
MAX conveniently places the health conditions of mobility systems at the fingertips of property managers. This results in more effective maintenance arrangements and significantly reduced system down-times, leading to higher level of satisfaction for all parties.
In addition to staying on top of trends with your mobility solutions, what will the company’s focus be on moving forward? Innovation and technical expertise are at the core of our DNA that runs through all of TK Elevator’s products and services, in reflecting our 200-year German engineering heritage. That’s why, even after we rebranded from thyssenkrupp Elevator to TK Elevator in February 2021, we continue to be very well-received by the engineering community, our customers, and end-users around the world.
In the Middle East, TWIN will continue to be our flagship offering as it is the ideal solution for the architectural wonders that are being built here as we speak. Our products have been proudly serving many iconic and newly constructed buildings as well as infrastructure projects including airports and metro stations.
Just this year, TK Elevator was awarded to supply the vertical transportation (VT) systems that will be installed at the upcoming Guggenheim Abu Dhabi Museum in Saadiyat Island’s cultural district, where we are also installing our units at the Zayed National Museum – both projects highlight our ongoing commitment to providing some of the most innovative and customer-centric mobility solutions.
Looking ahead, our customers will always be at the forefront of our growth, as we continue to create the most value for them through our safe and innovative solutions.
Disrupting the Luxury Property Market
MIDDLE EAST AHS Properties, the recently launched luxury real estate company has added two new projects to its portfolio and founder Abbas Sajwani tells Big Project ME that he has no plans to slow down
AHS Properties – the luxury real estate company owned by entrepreneur Abbas Sajwani – has added two more projects to its portfolio, bringing the company’s gross development value to US $550mn (between projects sold and under development).
Specialising in selling premium high-ticket properties, AHS Properties acquired two low-rise apartment building plots – one in Palm Jumeirah and another on Dubai Canal. The buildings – both nine stories high – will contain 25 penthouses and sky villas, offering residents exclusivity and privacy. The projects will feature state-of-the-art spas private cinemas, cigar lounges and private swimming pools on all balconies, a statement from AHS Properties said.
Shaun Killa, from Killa Design, a veteran of Dubai’s architecture sector and designer of the Museum of the Future, has been appointed as Lead Architect, the firm pointed out.
AHS Properties entered the Dubai real estate market in November 2021 with a total asset value of more than $100mn, comprising four luxury properties in the Palm Jumeirah and Emirates Hills. Since then, the company notes that it has sold three villa projects on the Palm, with a combined value of more than $75mn.
With Dubai’s ultra-prime residential properties seeing strong demand, as investors look to invest in the emirate’s niche housing segment, prices are being pushed on the higher side by at least 15% this year. Leading property consultants have also noted that the demand for the city’s most desirable neighbourhoods, combined with restricted supply, is driving the record price growth.
Big Project ME spoke to Abbas Sajwani ahead of the announcement to discuss his thoughts on AHS Properties’ performance over the last
I am extremely proud of what we have been able to achieve. Our properties do not sit on the market very long because we are offering premium mansions to a niche market. Our customers know what they want and have the resources to snatch up properties quickly”
year and understand how the company intends to position itself within an increasingly competitive market space.
Following the launch of AHS Properties in 2021, what has been the response to the company’s offerings? AHS Properties was established in early 2021 with an impressive development value of $115mn. This has now grown to more than $500mn. I am extremely proud of what we have been able to achieve in such a short period of time.
Our properties do not sit on the market very long because we are offering premium mansions to a niche market. Our customers know what they want and have the resources to snatch up properties quickly. We will continually add projects to the AHS portfolio, and you will hear about our new acquisitions before the year’s end.
How does AHS Properties differentiate itself in the market space? I bring on board the best of the best in the industry, from world renowned architects, designers, and brands to give AHS products an edge in the market. Also, aside from the traditional luxury property areas such as Palm Jumeirah and Emirates Hills— AHS also has a new property along the Dubai Canal.
We continue to give luxurious options for our clientele who are looking for a premium product but with stunning city views.
Rapid growth
Since it was established in early 2021, AHS Properties has seen its development value grow to $500m, says Abbas Sajwani.
What are the company’s plans for 2023 and what’s in the project delivery pipeline? We have taken on two new product launches with our low-rise buildings
Ripe market
The Dubai property market is ripe for luxury property sales as high-net worth individuals from around the world move to the city. on Palm Jumeirah and Dubai Canal and will be ready for the market by December 2024 with a GDV of $400mn. The exclusive projects each will have 25 sky villas and penthouses with incomparable city views.
With regards to the project launch – what sort of response do you anticipate for the project? We have already received a lot of interest in these properties. The market is ripe for luxury property sales as high-net-worth individuals from around the world are looking to buy a second home in Dubai.
We also have clients who have bought properties from AHS and are referring others to our brand because they are happy with the product and the premium offerings that AHS offers.
How will this project establish AHS’ Properties brand in the market? This will really set us apart from our competition with Shaun Killa as Lead Architect and with interior designs by 1508 London and Hirsch Bedner Associates.
Already, we have disrupted the luxury property market and more and more people are taking notice of AHS Properties.
