Tecom Investments, the free zone authority responsible for the Tecom, Dubai Media City and Dubai Internet City zones, has said that it will deliver an extra two million square feet of office space by the end of this year.
The company, part of the government-owned Dubai Holding, is set to deliver most of this space within the city’s new creative hub, Dubai Design District (d3), which sits on the opposite side of Al Khail Road to the Downtown Dubai district.
Tecom said 11 new buildings will open at d3 before the end of the year, alongside three new buildings at International Media Production Zone.
It also said that the new 1.8 million square foot Innovation Hub building based within Dubai Media City is set to open by the first quarter of 2017 while the Creative Community building within d3 – aimed at providing local designers and artists with galleries and studios – will be completed in 2018. It has been designed by UK-based architecture company Foster + Partners.
Tecom Investments also revealed plans to rebrand to Tecom Group, which it said reflects its broader range of activities.
As well as overseeing 10 free-zone communities and 11 business parks, Tecom has also moved into residential development through its Villa Lantana project in Al Barsha South, and it has its own media organisation, Arab Media Group. It operates the Arabian Radio Network, events company Done Events and the Global Village tourism project.
Tecom Group chief executive Dr Amina Al Rustamani said: “Our upcoming developments will be fully-fledged communities with the objective of enabling business growth and championing creativity and innovation, and our new brand symbolises our diversified portfolio of projects.”
Rents for office space in Dubai remained flat in the first half of this year, with prime offices priced at Dh250 per square foot, secondary space at Dh130 and tertiary space at Dh70, according to a property report by consultancy Cluttons.
However, it added that the picture remained “complex”, with exceptions at the top end such as Dubai International Financial Centre (DIFC) and Emirates Towers where rents are Dh275 and Dh300 per sq ft respectively.
Cluttons also said it expected higher demand from international businesses looking to service Iranian operations from Dubai when sanctions are lifted.
This “will once again place upwards pressure on Grade A rents in sought-after sub-markets, particularly the city’s primary free zones such as DIFC, Internet City and Media City, d3 and Dubai Airport Free Zone”, it said.
mfahy@thenational.ae
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Some of Darwish's last words
"They see their tomorrows slipping out of their reach. And though it seems to them that everything outside this reality is heaven, yet they do not want to go to that heaven. They stay, because they are afflicted with hope." - Mahmoud Darwish, to attendees of the Palestine Festival of Literature, 2008
His life in brief: Born in a village near Galilee, he lived in exile for most of his life and started writing poetry after high school. He was arrested several times by Israel for what were deemed to be inciteful poems. Most of his work focused on the love and yearning for his homeland, and he was regarded the Palestinian poet of resistance. Over the course of his life, he published more than 30 poetry collections and books of prose, with his work translated into more than 20 languages. Many of his poems were set to music by Arab composers, most significantly Marcel Khalife. Darwish died on August 9, 2008 after undergoing heart surgery in the United States. He was later buried in Ramallah where a shrine was erected in his honour.
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Have you been targeted?
Tuan Phan of SimplyFI.org lists five signs you have been mis-sold to:
1. Your pension fund has been placed inside an offshore insurance wrapper with a hefty upfront commission.
2. The money has been transferred into a structured note. These products have high upfront, recurring commission and should never be in a pension account.
3. You have also been sold investment funds with an upfront initial charge of around 5 per cent. ETFs, for example, have no upfront charges.
4. The adviser charges a 1 per cent charge for managing your assets. They are being paid for doing nothing. They have already claimed massive amounts in hidden upfront commission.
5. Total annual management cost for your pension account is 2 per cent or more, including platform, underlying fund and advice charges.
THE TWIN BIO
Their favourite city: Dubai
Their favourite food: Khaleeji
Their favourite past-time : walking on the beach
Their favorite quote: ‘we rise by lifting others’ by Robert Ingersoll
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Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
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Starring: Hani Razmzi, Maya Nasir and Hassan Hosny
Four stars
Founder: Ayman Badawi
Date started: Test product September 2016, paid launch January 2017
Based: Dubai, UAE
Sector: Software
Size: Seven employees
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Funders: friends
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Price, base / as tested Dh1,100,000 (est)
Engine 5.2-litre V10
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Power 630bhp @ 8,000rpm
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Cultural fiesta
What: The Al Burda Festival
When: November 14 (from 10am)
Where: Warehouse421, Abu Dhabi
The Al Burda Festival is a celebration of Islamic art and culture, featuring talks, performances and exhibitions. Organised by the Ministry of Culture and Knowledge Development, this one-day event opens with a session on the future of Islamic art. With this in mind, it is followed by a number of workshops and “masterclass” sessions in everything from calligraphy and typography to geometry and the origins of Islamic design. There will also be discussions on subjects including ‘Who is the Audience for Islamic Art?’ and ‘New Markets for Islamic Design.’ A live performance from Kuwaiti guitarist Yousif Yaseen should be one of the highlights of the day.
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Types of bank fraud
1) Phishing
Fraudsters send an unsolicited email that appears to be from a financial institution or online retailer. The hoax email requests that you provide sensitive information, often by clicking on to a link leading to a fake website.
2) Smishing
The SMS equivalent of phishing. Fraudsters falsify the telephone number through “text spoofing,” so that it appears to be a genuine text from the bank.
3) Vishing
The telephone equivalent of phishing and smishing. Fraudsters may pose as bank staff, police or government officials. They may persuade the consumer to transfer money or divulge personal information.
4) SIM swap
Fraudsters duplicate the SIM of your mobile number without your knowledge or authorisation, allowing them to conduct financial transactions with your bank.
5) Identity theft
Someone illegally obtains your confidential information, through various ways, such as theft of your wallet, bank and utility bill statements, computer intrusion and social networks.
6) Prize scams
Fraudsters claiming to be authorised representatives from well-known organisations (such as Etisalat, du, Dubai Shopping Festival, Expo2020, Lulu Hypermarket etc) contact victims to tell them they have won a cash prize and request them to share confidential banking details to transfer the prize money.
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Dimuth Karunaratne (c), Lasith Malinga, Angelo Mathews, Thisara Perera, Kusal Perera, Dhananjaya de Silva, Kusal Mendis, Isuru Udana, Milinda Siriwardana, Avishka Fernando, Jeevan Mendis, Lahiru Thirimanne, Jeffrey Vandersay, Nuwan Pradeep, Suranga Lakmal.
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- Wear a protective helmet
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- Solo riders only, no passengers allowed
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The more serious side of specialty coffee
While the taste of beans and freshness of roast is paramount to the specialty coffee scene, so is sustainability and workers’ rights.
The bulk of genuine specialty coffee companies aim to improve on these elements in every stage of production via direct relationships with farmers. For instance, Mokha 1450 on Al Wasl Road strives to work predominantly with women-owned and -operated coffee organisations, including female farmers in the Sabree mountains of Yemen.
Because, as the boutique’s owner, Garfield Kerr, points out: “women represent over 90 per cent of the coffee value chain, but are woefully underrepresented in less than 10 per cent of ownership and management throughout the global coffee industry.”
One of the UAE’s largest suppliers of green (meaning not-yet-roasted) beans, Raw Coffee, is a founding member of the Partnership of Gender Equity, which aims to empower female coffee farmers and harvesters.
Also, globally, many companies have found the perfect way to recycle old coffee grounds: they create the perfect fertile soil in which to grow mushrooms.
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Benefits of first-time home buyers' scheme
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- DLD registration fee can be paid through banks or credit cards at zero interest rates
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