Trump's two sons, who now run the Trump Organization, attend a gala at the golf course
During a brief speech made to a crowd of several hundred people - including property developers and other members of the business community from around the Gulf - Donald Jr. praised the leadership of His Highness Sheikh Mohammed bin Rashid al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai.
Delivering his keynote at the 'UAE Economic Outlook 2017' hosted jointly by the Dubai Department of Economic Development and the Abu Dhabi Department of Economic Development, he also revealed that Dubai will announce its future economic outlook twice every year from now onwards - in January and October. The economic outlook will shed light on growth opportunities in the emirate both at the macro-economic and sectoral levels and against the global economic backdrop.
'Dubai Harbour' is also set to enhance the city's profile as a magnet for wealth and investment.
His Highness Shaikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai announced the development of 'Dubai Harbour', a unique new waterfront destination that will feature the Middle East and North Africa (Mena) region's largest marina.
The announcement was made in the presence of Shaikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai; Shaikh Ahmed bin Saeed Al Maktoum,President of Dubai Civil Aviation Authority and Chairman and Chief Executive of Emirates Airline and Group; Shaikh Mansour bin Mohammed bin Rashid Al Maktoum, Chairman of Dubai International Marine Club; Khalifa Saeed Sulaiman, Director General of Dubai Protocol Department; and Abdulla Al Habbai, Group Chairman of Meraas.
The project, located on King Salman bin Abdulaziz Al Saud Street, in the area between Jumeirah Beach Residence and Palm Jumeirah, also known as Mina Al Seyahi, will be developed by Dubai's leading holding company Meraas.
The iconic luxury waterfront destination, spread over 20 million sq. feet, will include a 1400-berth marina as well as a cruise ship port and terminal, a shopping mall covering 3.5 million sq. feet, an events arena, luxurious residential buildings, hotels, offices, retail stores, public services, restaurants and cafes and 'Dubai Lighthouse'.
Dh4.8 billion contracts signed to kick start work on hotels, resorts, infrastructure
Dubai: The European company developing a cluster of islands that will feature luxury floating villas and bring snow and rain to The World, just off the coast of Dubai, has signed Dh4.8 billion contracts to kick start construction work.
Kleindienst announced on Wednesday the appointment of three companies to immediately start building the necessary infrastructure, hotels and resorts on the six artificial islands which will comprise the “The Heart of Europe” development.
Russia-based luxury developer Forum Group launched its first Dubai venture with twenty-two luxury villas, covering 4.6ha, on Palm Jumeirah.
Situated near the end of the Palm Jumeirah West Crest, residents of the Mediterranean architecture-inspired XXII Carat villas will enjoy a luxury hotel-inspired lifestyle offering spacious accommodation with convenience of 24X7 concierge and exclusive access to privatebeachfronts spanning 720 ft.
Property experts have said that the Dubai market has shown signs of bottoming out, with no significant price declines in recent months. Satish Kumar / The National
Dubai’s residential market is on the verge of an "imminent" increase in prices as a result of improving economic conditions and a relatively stable supply, according to a new Reidin/Global Capital Partners report.
The study, A Tale in Three Markets, says that recent trends in equity and oil markets and the limited supply of new completed units all point to a citywide increase in property prices in the near future.
Lootah called the financial crisis “a good lesson learnt,” adding that the property market in Dubai was “very stable – demand is less but it has stabilised”.
The government has embarked on setting up an institutional framework of innovation by establishing "Mohammed Bin Rashid Center for Government Innovation" followed by "Hamdan Innovation Incubator".
The Dubai Economic Council, or DEC, on Wednesday announced the launch of Dubai Global Innovation Centre, a joint initiative with Royal Philips, to expedite Dubai's transformation into the world capital of innovation.
The DEC said the centre comes as part of the initiatives launched by the Government of Dubai to provide an institutional infrastructure for innovation. One of the center's mandates is to organise the 'World Innovation Award.'
Shaikh Ahmed bin Saeed Al Maktoum, president of Dubai Civil Aviation Authority and chairman and chief executive of Emirates airline and Group, said Dubai is determined to be among the most innovative cities and emerge as a global innovation hub. "Dubai has all the elements to speed up the transformation, especially in light of the 'National Innovation Strategy' launched by the UAE government and a series of initiatives launched by Dubai last year under the guidance of His Highness Shaikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai," Shaikh Ahmed said.
Dubai master developer Nakheel has signed a management agreement with the Starwood Hotels & Resorts Worldwide to operate a new St. Regis in Dubai.
Set to open in 2018, The St. Regis Dubai - The Palm will be a part of Palm Tower, Nakheel’s 52-storey luxury mixed-use development and the centrepiece of Dubai’s Palm Jumeirah island.
The St Regis Dubai - The Palm will offer 289 guest rooms, including 23suites, occupying the first 18 floors of The Palm Tower, while the upper floors will comprise 504 luxury apartments.
The hotel will feature two swimming pools, including the one of the world’s highest infinity pools. Located on the 50th floor, some 210m above ground, the pool will border all four sides of the building, offering 360 degree views of Palm Jumeirah, Arabian Gulf and Dubai skyline.
The hotel will offer various dining experiences including a signature restaurant with city views located on the 51st level, a St. Regis Beach Club and an all-day restaurant.
The hotel will also feature a public rooftop viewing deck on the 52nd floor. Located adjacent to the luxury Nakheel Mall and Al Ittihad Park, the hotel will also offer beach access to guests.
"Our project structure works is 73 per cent complete as at the end of third quarter, up from 57 per cent in the second quarter. "
Construction at the Dubai Parks and Resorts, the region's first integrated theme park resort remains on track, and the mega tourist project is now less than 12 months away from the official opening as total spending on the project reaches Dh4.8 billion.
Raed Al Nuami, CEO of Dubai Parks and Resort, said the project has reached a critical milestone with construction of the individual parks progressing rapidly, you can now truly begin to appreciate the size and diversity of offerings at our resort.
"Our project structure works is 73 per cent complete as at the end of third quarter, up from 57 per cent in the second quarter. We have neared completion of design and procurement and our ride engineering and manufacturing is progressing as planned with 63 percent now complete," he added.
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