Samana Developers, a Dubai-based boutique real estate developer, has announced a 24% guaranteed rental returns for its US$ 27.2 million Samana Hills and the same US$27.2 million Samana Greens projects located in Arjan, Dubailand, near a major tourist attraction, Dubai Miracle Garden.
The generous 24% yield makes Samana Developers projects attractive for end-users and investors alike. The easiest to avail 10% down-payment and over 90 months installment scheme makes it simple for the investor to pay and earn rental yields. In addition, investors are particularly interested in the 8% net return that is given by the developer once the unit is fully paid.
The higher than banking lenders’ return makes Samana Hills and the almost complete Samana Greens projects a highly lucrative proposition for investors at much sought-after locations in Dubai.
The five-storyed Samana Hills project has a mix of studio, one and two bedroom apartments that will be delivered by the fourth quarter of 2021. With studio apartments starting from Dh399,000 and one bedroom units from Dh599,000.
The new lucrative offering is for Samana Hills resort-style residential project and for the award-winning Samana Greens – a sustainable, energy-efficient and environment-friendly project – which has received high levels of investor interest due to their prime location in close proximity to tourist attractions, international schools and the largest private hospital in the city of Dubai. Arjan is Dubai’s new neighbourhood with a lifestyle living and to easy access to the metropolitan.
Alan James Gammon, General Manager of Samana Developers, said: “We have a buyer-focused business model, with a win-win approach. Our 24% per cent guarantee of rental returns is hard to compete in Dubai’s real estate market which only a mature and sustainable developer can offer. Our sustainable business approach reflects our commitment to buyers in particular, and to the Dubai’s real estate market in general.”
In addition the award-winning G+4 Samana Greens project comes with ample parking space, landscaping and other associated facilities with a built-up area of 508,666 square-feet. The residential project brings several retail outlets, luxurious sauna and gymnasium, comfortable shopping area, ample parking and play area for children whilst being built to the largest green standards helping to reduce the carbon footprint.
“We plan to continually develop new resort-style projects in the most sought-after locations of Dubai that will have attractive and affordable payment schemes whilst delivering quality and eco-friendly living”, Alan concluded. Dubai Expo 2020 Impact
More positive market sentiment is expected due to direct and indirect drivers impacting tourism, business and the overall economy as Expo 2020 kicks off during the fourth quarter. 300,000 jobs are likely to be created due to Expo 2020, according to a December 2019 market report by ValuStart, the Middle East’s leading provider of market advisory.
Mr. Salaheddine Mounjid is a prominent investor and director in one of the renowned corporate holdings. He has a vast experience of making strategic investments in different parts of the world as a part of his business. Investor Salaheddine Mounjid has new plans for the year 2020 as he is shifting his focus on the Gulf region, specifically Northern Iraq. His company is planning to invest a 15$-20$ million in Iraq in order to create 1000 jobs, feed the local market and participate in the construction of the “new Iraq”.
This New Investment of Mr. Salaheddine Mounjid in Iraq stemmed from successful participation in the INTERNATIONAL IRAQ BUILDING EXHIBITION, Mr. Salaheddine Mounjid has met the prime minister of Iraq H.E Adel Abdel-Mehdi, the minister of Economy H.E Mohammed El Ali and the minister of construction H.E Bengan Rikani. He decided to invest $15 Million over 20000 SQM of land in North of Iraq in a full production line of building materials.
In his recent talks with the media, Mr. Salaheddine Mounjid said: “This project is in line with our corporate growth strategy, reaffirms our commitment to increasing our presence across categories that are in high demand. Our investment goes in line with our corporate and private equity strategies. The Holding is currently seeking to broaden its investments in the Gulf and is also eyeing a listing on the Abu Dhabi stock exchange, the private equity firm said in August. In the last year, it has closed real estate deals in Morocco and launched a British real estate fund. It also has ten Islamic funds, including six real estate funds, three publicly-listed funds, and an industrial private equity fund.”
The First Premium Organic Makeup Brand To Debut In The Middle East
Move over mineral makeup, trending in the world of natural cosmetics is high-performance organic makeup that boasts professional textures and finishes, and the best part is that it improves skin with regular use. You’ll find all this and more in organic and natural cosmetics line – Liht Organics.
Liht Organics, a premium organic beauty brand recently made its debut in the UAE’s beauty sector, making it the first organic makeup brand to enter the market. Formulated in the USA, Liht products are celebrated for being organic, vegan, cruelty-free, gluten-free and completely safe – free of nanoparticles and harmful chemicals.
Founded by Nerissa Low, Liht (Living In Her Time) is all about empowering a woman to live fully in her light, by her rules, in her own time. She believes every woman should be authentic to her true self and embody all her best qualities. And with beauty products, this is no exception.
The move for her to go organic years ago was a personal one. “I used to have really bad acne and had to be on Oratane and have my pimples injected with steroids every month. My skin cleared up only after I made the switch to go organic. After seeing how it worked for me, I wanted to look for organic makeup too, but couldn’t find authentic, quality ones. That’s why I decided to start my own,” she explains.
In a market that is increasingly saturated by the entrance of new players and introduction of novel products, what sets Liht apart is their focus on quality and emphasis on beneficial organic ingredients. Liht products improve skin health with regular use, debunking myths that makeup is bad for your skin. Motivated by this vision, Liht has a strict criteria for their formulations to be 100% natural with a high percentage of organic ingredients – up to 90%. Riding high on the increase in demand for all-natural and safe products; Liht has a unique position in the UAE cosmetics market; which is expected to perform over 4% CAGR until 2024.
Commenting on Liht’s foray into the Middle East, Ms. Low said; “We are grateful and honoured to be the first organic makeup brand to launch in the Middle East. This is the perfect market for us because Middle Eastern consumers appreciate quality products and see the value in investing in their skin and health. From a brand perspective we are happy to be launching at a time when the society is experiencing a shift in cultural dynamics and women are now embracing new levels of freedom and empowerment.”
Liht Organics is currently available across 22 new Lulu BLSH stores in Dubai and Abu Dhabi, and is en route to 60 stores within its first year including launches in Bahrain, Oman, Kuwait and Saudi Arabia. Their extensive product portfolio is also available on their e-commerce portal https://www.lihtorganics.com/
“My vision for Liht is to be the leading organic makeup brand not just in Middle East, but globally, and to inspire women to make conscious choices in health and beauty – and thus contribute to the movement of making the world a better place, one woman at a time”, concluded Ms. Low.
H.H. Dr. Sheikh Sultan bin Mohammed Al Qasimi, Supreme Council Member and Ruler of Sharjah, announced a budget with total expenses of AED29.1 billion for 2020, a 2 percent increase in comparison to its 2019 budget.
The approved budget will see an increase in expenses across several sectors including infrastructure, social programs, economic activities, culture and education among others.
Investing in the Emirate’s infrastructure will be the primary goal this year, besides also focusing on Sharjah’s strategic objectives in the economic, social, scientific and cultural sectors. Provision of social support to ensure that the needs of all citizens are adequately met, will also be an essential area of focus during this year.
Approximately 33% of the general budget is allocated to infrastructure development in the emirate, a growth of 10% over the 2019 budget. Around 36% of the general budget is set aside for economic development, with an increased focused on spurring economic growth.
About 24% of the general budget is earmarked for social development, a 1% increase over the 2019 budget. This budget is dedicated for the support of scientific, cultural and heritage services in order to stimulate creativity, innovation and R&D, to ensure an ideal healthy environment.
Sheikh Mohamed bin Saud Al Qasimi said: “The general budget for this year is considered the largest in the history of the emirate. Stimulating economic growth lies at the heart of this year’s budget as a strategic priority to enhance Sharjah’s economic appeal regionally and globally. The aim is to ensure financial stability and improve the emirate’s competitiveness by providing a business-friendly environment for local and international investors, and help in the growth of the tourism sector across various fields, including cultural, historical, therapeutic, and recreational tourism. This is coupled with unrelenting efforts to keep macroeconomic performance indicators in line with international standards, including control of inflation rates and rationalizing government spending.”
H.E. Waleed Al Sayegh, Director General of Sharjah Finance Department said that the 2020 budget provides a practical framework for implementing the directives and priorities of His Highness the Ruler of Sharjah and translating the vision and strategy of the Sharjah government from a modern perspective. The budget has, therefore, been linked with the emirate’s economic and social indicators in a way that ensures spurring economic growth and provides social support, and adequate housing opportunities for families to enjoy social stability, security and solidarity. This vision aligns with the directives of His Highness the Ruler of Sharjah of providing a decent life and lasting prosperity for citizens and residents living in Sharjah.”
Capital projects accounted for 23% of the total budget with a view of strengthening infrastructure, including the development and improvement of road network, tunnels, and other primary facilities. The general budget will create 500 jobs for Emiratis to ensure social stability and sustainable income sources for UAE citizens. The revenues of independent entities are set to grow by 1% in 2020 compared to 2019. Social assistance accounts for 13 % of the 2020 general budget, which reflects the determination of His Highness the Ruler of Sharjah to ensure welfare and social justice.
Samana Developers is UAE’s first developer giving such a massive facility.
The UAE Central Bank’s existing rule allows local banks of lending up to 20% of financing.
In addition, guarantee of 24% rental returns by Samana Developers makes its projects highly attractive for end-users and investors alike.
Samana Developers, a Dubai-based boutique real estate developer and a part of Samana Group of Companies, has announced Dubai’s first of a kind game-changer facility of 50% financing for its investors for its soon to be launched resort-style design award winning Samana Golf Avenue project located in Dubai Studio City and near Dubai Sports City.
Samana Developers move comes at a time when the Central Bank of UAE, country’s banking regulator, discussed relaxing the existing ceiling of 20% financing by UAE lenders for real estate sector.
Samana Developers is UAE’s first developer who is offering such a massive offer, while making investors’ life risk-free and easier with ultimate satisfaction.
Samana Developers is offering the 50% finance facility for its resort-themed Samana Golf Avenue project, located in Dubai Studio City. The project won the Innovation in Design Award by BNC Publishing, Dubai. The project includes 233 luxury studios, one and two-bedroom apartments some with private pools and a world class leisure deck featuring a golf putting green.
Samana Developers, under the partnership with leading banks, will be providing the most attractive terms for end users financing for both residents as well as non-residents. Financing will be available for up to 10 years tenure on Samana Golf Project for up to 50% of the unit value.
Alan James Gammon, General Manager of Samana Developers, said: ““50% financing is a generousmove by Samana Developers, which reflects our rent-to-own approach for homebuyers. Our partnership with the local financial institutions reflects our mandate to create solutions that meet the changing needs of homebuyers in the UAE. Considering the huge interest for the Samana Golf Avenue project in both the local and international market especially China. We perceive an exceptionally strong demand for high-quality, affordable properties in carefully master-planned, and well located residential communities from homebuyers, ranging from young professionals to larger families.”
Beside 50% financing, the competitive guarantee of 24% rental returns makes Samana Golf Avenue project an attractive proposition for end-users and investors alike, and is the developers’ rent-to-own approach . The 10% down-payment and over 90 months installment scheme makes it easier and simple for the investor to pay and earn rental yields.
In addition, investors are particularly interested in the 8% net return that is given by the developer once the unit is fully paid. The higher than bank return makes Samana Golf Avenue a highly lucrative proposition for investors at a much sought-after location of Dubai Studio City in the city of Dubai.
“We have a buyer-focused business model, with a win-win approach. Our 24% guaranteed rental return is hard to compete with in the Dubai’s real estate market which only a mature and sustainable developer can offer. Our sustainable business approach reflects our commitment to our customers and to the Dubai’s real estate market in general”, said Alan James.
The Emirate of Sharjah is experiencing strong economic growth and moving strongly towards further development and progress, said HE Saud Salim Al Mazrouei, Director of Hamriyah Free Zone Authority (HFZA) and Sharjah Airport International Free Zone (SAIF ZONE).
Al Mazrouei made his remarks on the occasion of approving the Emirate’s largest ever general budget on Sunday by H.H. Dr. Sheikh Sultan bin Muhammad Al Qasimi, Supreme Council Member and Ruler of Sharjah.
The director affirmed that Sharjah is progressing towards greater economic improvements thanks to the wise vision of H.H. Dr. Sheikh Sultan bin Muhammad Al Qasimi, adding that the 2020 budget, which comes in line with the government spending plans and infrastructure projects, will give an additional boost to local and foreign investments and projects.
“This year’s budget has focused on key sectors. This reflects how much attention is given to national priorities by H.H Dr Sheikh Sultan. It took at its core the interests of Sharjah’s citizens and was developed to make them feel reassured about the future of Sharjah and its coming generation. The budget will definitely support Sharjah’s leading position in the region and will enhance its competitive edge globally” he underlined.
“It does mirror the Emirate’s capability to steadily enhance and build on its economic achievements made over the years. Sharjah now is an example for building a state-of-the-art economy based on solid foundations,” Al Mazrouei further said.
“The budget also highlights the Emirate’s firm determination to strike a balance between improving the economy and achieving the prosperity of its people as evidenced by allocating 36% of it to the economic development sector, which shows the extent of the government’s commitment to securing the requirements of sustainable development.
There is no doubt the budget will reinforce the Emirate’s leadership and competitiveness. It will help provide the best and finest services to investors and the business sector, and will add a further momentum to the national economy. It will also stimulate foreign direct investment to invest in various projects,” he added.
Additionally, our wise government has allotted 24% of the budget to the social development sector, which demonstrates its great interests in ensuring the happiness and welfare of Sharjah’s people and its sustained support to scientific, cultural and heritage services, creativity, innovation and scientific research.
Al Mazrouei concluded by saying: “The budget does indeed reflect the comprehensive vision of Dr Sheikh Sultan, which was tailored to realize the highest levels of financial sustainability and efficiency in managing the available resources, and supporting the capabilities of government agencies,”.
From new tech to welding contest, 4-day show to be a key industry event
Presenting the region’s largest showcase of machinery, equipment, tools and accessories for the metal working and forming industry, the 16th SteelFab 2020 has got under way at Expo Centre Sharjah on Monday (Jan 13).
Serving as a one-stop sourcing and reference point for the entire spectrum of products and services relating to welding and cutting technology, machine tools, fasteners and allied industries, SteelFab was inaugurated by Sheikh Khalid bin Abdullah bin Sultan Al Qasimi, Chairman of the Department of Seaports and Customs. The event will run until January 16.
More than 300 manufacturers, distributors and 700 brands from 35 countries from across the world are displaying products and solutions ranging from the requirements of the smallest of the fabrication works to everything that a large project would require. Every international brand worth its name is available at the stalls that are spread across nearly 20,000 sq m.
The opening ceremony was attended by H.E. Abdalla Sultan Mohamed Al Owais, Chairman of the Sharjah Chamber of Commerce and Industry & Expo Centre Sharjah., HE Mohammed Ahmed Amin Al Awadi, SCCI’s Director General, HE Saif Mohammad Al Midfa, CEO of Expo Centre Sharjah, HE Saud Salim Al Mazrouei, Director of Hamriyah Free Zone Authority (HFZA) and Sharjah Airport International Free Zone (SAIF ZONE), and Sultan Shattaf, Sales and Marketing Director, Expo Centre Sharjah and as well as other board members from SCCI and Expo Centre.
Also present were members of diplomatic corps, dignitaries and representatives of the manufacturing sector, as well as a large crowd of businessmen and investors.
After cutting the ribbon, which marked the official opening of the show, Sheikh Khalid toured the show, and was briefed by exhibiters about their latest their latest products, technologies and innovative solutions in the metal working industry.
Sheikh Khalid affirmed that SteelFab offers something new every edition, which explains the growing number of participants and its increasing importance for local, regional and international companies looking forward to expanding their business and enhancing their presence in the UAE’s and region’s markets.
“It is especially important as it gives a unique access to the latest innovations, advanced techniques and high-end products in the steel and metal industry. This event does indeed reflect Sharjah’s great interest in promoting its reputation, competitive edge and status being a leading hub for business and investments,” he further said.
Sheikh Khalid added: “Thanks to the wise vision of H.H. Dr Sheikh Sultan bin Mohammed Al Qasimi, Supreme Council Member and Ruler of Sharjah, Sharjah has become a top regional destination for investors interested in the advanced steel and metal industry,”.
A number of officials from participating companies praised Expo Centre’s support and well organization of the event, stressing their keenness to attend such an annual event, which is one of the most important trade gatherings for the steel and metal industry in the region.
“SteelFab has been the flagbearer of the manufacturing industry for the past one and a half decades. Underpinned by bold reforms and stimulus measures, the manufacturing industry in the country has been expanding fast, and has become the base for the push to diversify the UAE economy. With every key regional player set to take advantage of the show, I am sure that SteelFab will continue to play a key role in strengthening the industrial base of the country,” said H.E. Al Owais
The presence of a large number of prominent local and international companies and brands who are leaders in their fields of expertise would also help establish crucial connections in supply chain across various segments of the manufacturing industry in the country, added Al Owais.
The regional manufacturing industry has always been on the leading edge of technology and innovation, and as the world moves into the fourth industrial revolution, the industry, of which metal fabrication is an integral part, is changing fast.
“The push is for faster machines, but the focus is also on connectivity and automation. And, new trends, including additive manufacturing, tube laser technology and artificial intelligence, will be the focus across the stalls at SteelFab, its special focus areas, national pavilions, live displays, and technical seminars,” said H.E. Al Midfa.
From fibre laser cutting machine to magnetic drilling and robotic assembling lines to abrasives, visitors can find everything, including machines, laser, automation, and software & services, from a single or multiple sources.
Since SteelFab is the largest showcase of welding and cutting in the region, and welding and cutting products account for nearly one-third of all the exhibits, a competition aiming to promote excellence in workmanship has been launched during the 16th SteelFab 2020. The Best Welder competition, held in association with Lincoln Electric and Middle East Industrial Training Institute, will be held during the show and winners awarded a slew of prizes, including a portable welding machine and full Lincoln Electric safety gear.
National Pavilions are a regular feature at SteelFab and this year exhibitors who represent Italy, China, India and Turkey have put up an impressive display. The 5th Fasteners World Middle East, held concurrently with SteelFab, is featuring companies such as SJS, Bolt Master, Petrofast, Technical Metal etc, providing visitors with fastener and fixing systems and related products and services.
Besides being a supportive partner to the event, the Hamriyah Free Zone Authority (HFZA) is also participating in SteelFab with a full-fledged pavilion. The authority is showcasing its unique services and investment opportunities as well as the advantages of setting up businesses at Hamriyah Free Zone.
The pavilion has also been dedicated to promote HFZA’s position, being an ideal hub for steel fabrication and metal companies and to attract major regional and international companies operating in this field through highlighting its unparalleled services, which were carefully developed to meet the needs of all investors, add value to their business and enhance their efficiency. Currently, more than 180 regional and international steel fabrication and metal companies are now operating at HFZA
Scores of industry executives and professionals have already signed up for technical seminars that will be organised in multiple sessions on Tuesday and Wednesday and will take up topics like material handling, welding, grinding and metal cutting by industry leaders.
The show will be open from 10 am to 7 pm daily only for trade and professional visitors. Entry and parking are free.
Kia Motors Corporation MEA has appointed Memac Ogilvy to lead its public relations in a multi-market partnership across Middle East and Africa — a new partnership for the automotive giant.
The account will be handled by Memac Ogilvy’s hub office in Dubai, UAE, and service major markets in the region, including Algeria, Morocco, Egypt, Iraq, Jordan, KSA, Kuwait, Lebanon, Oman, Qatar, and South Africa.
Yaser Shabsogh, Chief Operating Officer, Regional HQs, Middle East & Africa, Kia, said: “As we continue to witness a rapid change in the auto industry, we are determined to enhance Kia’s brand power and reputation. We believe in synergy and are positioned to respond to the opportunities the changing era brings with the help of Ogilvy and their modern and creative approach to PR. This partnership will also allow us to better support our distributors across the region through a single point of contact and a unified message. We believe that together with Memac Ogilvy, we can effectively communicate how the Kia brand will continue to surprise while moving beyond simply providing a means of transportation.”
“This kind of partnership was tailor-made for Memac Ogilvy, and the wider Ogilvy network,” said Saada Hammad, Regional Director of PR & Influence, Memac Ogilvy.
“Kia is a globally adored brand, with an exciting and unique story to tell. We bring years of knowledge and experience within the automotive and mobility sector to the table, as well as a fully integrated network of professionals. Together, we have the opportunity to tell stories that surprise, and further drive the love of Kia and its fleet to the region.”
Kia, ranked fourth car brand in the region, is one of the most trusted and loved automotive brands in the world, and is the latest addition to Memac Ogilvy’s exciting portfolio of global and local brands within its PR & Influence capability in the MEA region.
Etihad secures exclusive naming rights for new iconic venue Yas Bay Arena to be Etihad Arena
The Etihad Arena will host world-class concerts, sporting spectacles, family entertainment and private events year-round
Miral, Abu Dhabi’s creator of destinations, today finalised a partnership with Etihad Airways, the national airline of the United Arab Emirates, to secure exclusive naming rights of Yas Bay Arena. As part of the agreement, Abu Dhabi’s first-of-its-kind multi-purpose, indoor entertainment venue will officially be named Etihad Arena.
With Etihad Airways’ track record for connecting Abu Dhabi to the world and promoting the UAE as a vibrant and growing hub for culture, business and tourism, the airline is the perfect partner to help further raise the profile of this unique venue and Yas Island as a destination. With both companies playing a key role in the Emirate’s economic diversification and development strategy, the new partnership will help position the Etihad Arena as one of the leading entertainment venues in the region and an important addition to Yas Island and Abu Dhabi’s entertainment and tourism offering.
Tony Douglas, Group Chief Executive Officer of Etihad Aviation Group commented: “It’s an honour to partner with an Abu Dhabi institution such as Miral on this joint venture, that will further promote Abu Dhabi and Yas Island as a hub for entertainment, tourism and culture. Etihad Arena complements our global presence at a number of sporting and entertainment venues, most notably Etihad Stadium in Manchester, home of Manchester City Football Club. This new arena will bring an abundance of talent to our capital, providing a diverse range of entertainment options for guests visiting our beautiful city, or for those who call the UAE home.”
Commenting on the agreement, Mohamed Abdalla Al Zaabi, CEO of Miral, said: “As our national airline with international reach, Etihad Airways is the ideal partner to help position the newly named Etihad Arena competitively on the local and regional map of live entertainment destinations. The new venue will be a significant addition to the unique offerings on Yas Island and in Abu Dhabi, creating unforgettable experiences, and helping us deliver on our vision to position Yas Island as a top global destination for entertainment, leisure and business. This is a testament to our commitment to grow the tourism industry and achieve our leadership’s vision of economic diversification.”
The Etihad Arena, which will be operated by Flash Entertainment, has been designed to accommodate large-scale and private events, offering unique flexibility with a capacity ranging from 200 to 18,000 people. Once open, the venue will host an eclectic variety of events including sporting competitions, corporate events, cultural performances, concerts, and many other appealing activities throughout the year.
Etihad Arena is part of Yas Bay, an iconic mixed-use development located on the southern end of Yas Island. Yas Bay encompasses three distinct but integrated areas: Yas Bay Waterfront, the Residences at Yas Bay and twofour54. The Etihad Arena will be an integral and iconic part of the Yas Bay Waterfront, which will also include the Hilton Abu Dhabi Yas Island, a beach club as well as a pier that boasts 12 licensed cafes and restaurants, and 19 retail outlets.
Expansion of Al Meera Sealine Branch now completed
Al Meera Consumer Goods Company (Q.P.S.C) has announced the opening of its latest location in Rawdat Al Hamama, marking an important mileston in the developing locality and bringing the total number of stores in Qatar to 53. Al Meera also announced that as part of its expansion strategy, its Sealine Branch is now offering customers more retail space and bigger selection of their favorite items after the physical expansion of the store.
Rawdat Al Hamama is strategically located halfway between Lusail City and Umm Salal Ali and perched between two major highways of Al Khor Expressway and Al Shamal Road. The area is currently witnessing major developments including a new housing subdivision.
The opening took place in the presence of a number of executives.
The shopping center, measuring 2505 sqm, brings Al Meera’s popular ‘Favorite Neighborhood Retailer’ philosophy to those living in Rawdat Al Hamama and provides a wide range of shopping services to the residents, under one roof.
Commenting on the occasion, the company stated:
“Al Meera is built on the principle that consumers should have access to affordable, high-quality grocery items, and we are glad to extend this experience to the community in Rawdat Al Hamama.
As with every new branch that Al Meera opens, this branch offers something for everyone. We invite everyone to visit the store, shop for fresh groceries and discover the offers that make us Qatar’s ‘Favorite Neighborhood Retailer’.”
Al Meera is currently pursuing a strategic growth plan which will see a slew of branch openings in upcoming localities. The supermarket chain is working in close coordination with the Ministry of Municipality and Environment to further contribute to the development and urbanization of more districts and territories in Qatar.