Aldar Properties, Abu Dhabi’s biggest developer, is constructing a Dh1.8 billion ($490 million) sustainable city on Yas Island.
The project will be built in partnership with Dubai-based Diamond Developers, said Jonathan Emery, chief executive of Aldar Development.
“The project will have 864 units and is positioned to complement other products Aldar is developing there,” Mr Emery said.
Construction will start in the fourth quarter of this year and will be completed in 30 months.
It will be financed through a mix of debt and equity by both developers, said Salah Habib, chief executive of Diamond Developers.
“Aldar today has a 2050 sustainability criteria and this partnership adds a lot of value to the table and allows us also to grow in achieving UAE’s sustainability agenda,” Mr Habib said.
The UAE aims to become carbon neutral by 2050 and plans to spend more than $164bn on a number of clean and renewable energy projects that are in line with its goal to reduce emissions and protect the environment over the next three decades.
The launch of the project comes at a time when the UAE property market is recovering from a coronavirus-induced slowdown. The market has received a boost from new government initiatives such as long-term residence visas and other measures.
“We are anticipating that market will stay strong as 2021 and it will depend on us getting the product right … we are staying close to the market and listening as we did last year,” Mr Emery said.
____________________
Abu Dhabi Sustainability Week - in pictures
____________________
“We have got a range of products to bring to the market this year and we are anticipating we can meet the demand. We are anticipating a strong year as last year.”
Abu Dhabi registered property transactions valued at $4.4bn during the third quarter of 2021, according to the Department of Municipalities and Transport.
The emirate completed 3,932 property transactions, which included $3.1bn in mortgages and $1.25bn in cash sales. About 2,224 mortgage transactions and 1,708 sales transactions were concluded during the period, the department said.
The new project will have elements related to sustainability, including provisions for vertical farming, a reduction in water consumption, sustainable mobility and waste management.
Aldar, which has developed a number of projects in Abu Dhabi such as Ferrari World and Yas Mall, reported an 11 per cent jump in its third-quarter profit on the back of record quarterly development sales.
It unveiled several new projects recently, including Yas Acres Magnolias and Al Gurm Phase II.
Earlier this month, Alpha Dhabi Holding, a subsidiary of Abu Dhabi-listed conglomerate International Holding Company, bought an additional 17 per cent stake in Aldar Properties to increase its stake to 29.8 per cent.
__________________
The President's Cake
Director: Hasan Hadi
Starring: Baneen Ahmad Nayyef, Waheed Thabet Khreibat, Sajad Mohamad Qasem
Rating: 4/5
Top tips
Create and maintain a strong bond between yourself and your child, through sensitivity, responsiveness, touch, talk and play. “The bond you have with your kids is the blueprint for the relationships they will have later on in life,” says Dr Sarah Rasmi, a psychologist.
Set a good example. Practise what you preach, so if you want to raise kind children, they need to see you being kind and hear you explaining to them what kindness is. So, “narrate your behaviour”.
Praise the positive rather than focusing on the negative. Catch them when they’re being good and acknowledge it.
Show empathy towards your child’s needs as well as your own. Take care of yourself so that you can be calm, loving and respectful, rather than angry and frustrated.
Be open to communication, goal-setting and problem-solving, says Dr Thoraiya Kanafani. “It is important to recognise that there is a fine line between positive parenting and becoming parents who overanalyse their children and provide more emotional context than what is in the child’s emotional development to understand.”
Various Artists
Habibi Funk: An Eclectic Selection Of Music From The Arab World (Habibi Funk)
SPECS%3A%20Polestar%203
%3Cp%3E%3Cstrong%3EEngine%3A%20%3C%2Fstrong%3ELong-range%20dual%20motor%20with%20400V%20battery%3Cbr%3E%3Cstrong%3EPower%3A%20%3C%2Fstrong%3E360kW%20%2F%20483bhp%3Cbr%3E%3Cstrong%3ETorque%3A%20%3C%2Fstrong%3E840Nm%3Cbr%3E%3Cstrong%3ETransmission%3A%20%3C%2Fstrong%3ESingle-speed%20automatic%3Cbr%3E%3Cstrong%3EMax%20touring%20range%3A%3C%2Fstrong%3E%20628km%3Cbr%3E%3Cstrong%3E0-100km%2Fh%3A%3C%2Fstrong%3E%204.7sec%3Cbr%3E%3Cstrong%3ETop%20speed%3A%3C%2Fstrong%3E%20210kph%20%3Cbr%3E%3Cstrong%3EPrice%3A%20%3C%2Fstrong%3EFrom%20Dh360%2C000%3Cbr%3E%3Cstrong%3EOn%20sale%3A%20%3C%2Fstrong%3ESeptember%3Cbr%3E%3C%2Fp%3E%0A
ENGLAND%20SQUAD
%3Cp%3EFor%20Euro%202024%20qualifers%20away%20to%20Malta%20on%20June%2016%20and%20at%20home%20to%20North%20Macedonia%20on%20June%2019%3A%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EGoalkeepers%3C%2Fstrong%3E%20Johnstone%2C%20Pickford%2C%20Ramsdale.%0D%3Cbr%3E%0D%3Cbr%3E%3Cstrong%3EDefenders%3C%2Fstrong%3E%20Alexander-Arnold%2C%20Dunk%2C%20Guehi%2C%20Maguire%2C%20%20Mings%2C%20Shaw%2C%20Stones%2C%20Trippier%2C%20Walker.%0D%3Cbr%3E%0D%3Cbr%3E%3Cstrong%3EMidfielders%3C%2Fstrong%3E%20Bellingham%2C%20Eze%2C%20Gallagher%2C%20Henderson%2C%20%20Maddison%2C%20Phillips%2C%20Rice.%0D%3Cbr%3E%0D%3Cbr%3E%3Cstrong%3EForwards%20%3C%2Fstrong%3EFoden%2C%20Grealish%2C%20Kane%2C%20Rashford%2C%20Saka%2C%20Wilson.%3C%2Fp%3E%0A
UAE currency: the story behind the money in your pockets
PROFILE OF HALAN
Started: November 2017
Founders: Mounir Nakhla, Ahmed Mohsen and Mohamed Aboulnaga
Based: Cairo, Egypt
Sector: transport and logistics
Size: 150 employees
Investment: approximately $8 million
Investors include: Singapore’s Battery Road Digital Holdings, Egypt’s Algebra Ventures, Uber co-founder and former CTO Oscar Salazar
Farage on Muslim Brotherhood
Nigel Farage told Reform's annual conference that the party will proscribe the Muslim Brotherhood if he becomes Prime Minister.
"We will stop dangerous organisations with links to terrorism operating in our country," he said. "Quite why we've been so gutless about this – both Labour and Conservative – I don't know.
“All across the Middle East, countries have banned and proscribed the Muslim Brotherhood as a dangerous organisation. We will do the very same.”
It is 10 years since a ground-breaking report into the Muslim Brotherhood by Sir John Jenkins.
Among the former diplomat's findings was an assessment that “the use of extreme violence in the pursuit of the perfect Islamic society” has “never been institutionally disowned” by the movement.
The prime minister at the time, David Cameron, who commissioned the report, said membership or association with the Muslim Brotherhood was a "possible indicator of extremism" but it would not be banned.
The specs
Engine: 3-litre twin-turbo V6
Power: 400hp
Torque: 475Nm
Transmission: 9-speed automatic
Price: From Dh215,900
On sale: Now
Skoda Superb Specs
Engine: 2-litre TSI petrol
Power: 190hp
Torque: 320Nm
Price: From Dh147,000
Available: Now
