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Dubai offers lease-to-own warehouses

Cost of operations will substantially go down with the introduction of lease-to-own warehouses for industrial projects in Dubai as it is first of its kind in the Gulf region.

Being developed by Lootah Real Estate Development in Dubai Industrial Park, Senaeyat project will offer industrial warehouses on 99-year lease-to-own basis with starting price of Dh10 million and above.

Saleh Abdulla Lootah, executive director,"...

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Kuwait's Dubai-listed Al Mazaya inks $137m in Islamic finance dealsJune 19, 2019

Kuwait-headquartered real estate developer Al Mazaya Holding has inked Islamic financing agreements with a local bank worth $136.6m (KD41.5m) weeks after it announced separate financing agreements worth $90.4m (KD27.5m) on Dubai Financial Market, where it is listed.

In a missive to the Dubai bourse, Al Mazaya said the funds would be used for the “refinancing and reprofiling [of] existing outstanding facilties utilised by the group over past years”.

The group’s real estate operations and investments will also be financed under the deal, which is expected"...

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UAE, Costa Rica stepping up economic cooperationJune 19, 2019

ABU DHABI, 18th June, 2019 (WAM) -- Non-oil trade exchange between the UAE and Costa Rica grew 33 percent from US$19.8 million in 2017 to $26.3 million in 2018 following the opening of their embassies in Abu Dhabi and San Jose in 2017 and 2018, respectively, according to a report by the Ministry of Foreign Affairs and International Cooperation.

'UAE's exports to Costa Rica totaled $2.2 million in 2017, with imports estimated at $16.4 million and re-exports at $1.2 million,' added the report, released to mark the current visit paid by Ahmed Ali Al Sayegh, Minister of State, to San Jose.


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Lootah offers lease-to-own warehouses in Dubai Industrial Park

Lootah Real Estate Development, a leading UAE-based real estate group, has announced the launch of Senaeyat, a company that provides lease-to-own industrial warehouses for businesses of different sizes.

Located in a major industrial growth hub in Dubai, Dubai Industrial Park, Senaeyat is the first to offer a lease-to-own model for clients, in which they can have full ownership of the pre-built industrial warehouses within 10 years.

Senaeyat has acquired a total of 3 million sq ft of land for the whole project, which will be offered in two phases. The first one includes one million sq ft, and the second, two million sq ft.

Phase One of the project has four different built-up areas –"...

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Fashion Forward Dubai: you can buy clothes right from the runway

Fashion Forward may have been away for a while, but it certainly hasn’t been idle.

Having skipped the spring summer 2019 season, Fashion Forward Dubai is set to return on October 30, for its next four day fashion event.

To be held at d3, the new season won’t only be offering the regions best fashion and jewellery designers. For the first time, it will also offer a platform to allow the regional and international buyers that attend the shows to purchase looks straight off the runway.


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Amex looks for single-digit revenue growth in the Middle East on credit card spending boost

American Express, the US financial services and credit card firm, is targeting single-digit revenue growth in the Middle East this year, as it boosts its number of merchant partnerships and launches new products and services amid higher consumer spending.

“The reason we are seeing growth is because we are expanding and targeting new segments and introducing new products,” said Mazin Khoury, chief executive of American Express Middle East, in an interview with The National. “It’s not double-digit growth, but we are seeing growth in spending overall in the region and believe that will continue.”


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How Emirates plans to reduce single-use plastics

Emirates has made a network-wide commitment to reduce single-use plastics on board its aircraft.

Eco-friendly paper straws have been introduced and all Emirates flights will soon be plastic straw-free, the airline said in a statement.

Emirates said it has been working on various long-term sustainability initiatives. In addition to plastic straws, plastic swizzle sticks and stirrers will also be replaced with eco-friendly alternatives by the end of the year.

From August, plastic bags used for inflight"...

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