Dubai – Mubasher: Emaar Properties on Monday announced it has listed a $500 million sukuk on the Nasdaq Dubai with the company’s chairman Mohamed Alabbar celebrating the listing by ringing the exchange’s opening bell.

The 10-year sukuk, which is part of Emaar’s $2 billion bond issuance programme, has an annual return rate of 3.875%, according to a press release.

The company aims at bolstering its regional and international expansion plans via the capital raised, Emaar noted.

Mohamed Alabbar said: “The growth of the sukuk market has been tremendous and has helped bridge the gap in infrastructure financing particularly with projects linking to the real economy. Listing our Sukuk on Nasdaq Dubai provides our issuance with a well-regulated platform with high visibility and close links to market participants regionally and around the world.”

The global property developer previously listed a $750 million sukuk on Nasdaq Dubai in 2016. A $750 million sukuk by Emaar Malls was listed in 2014.

For his part,: “This listing by Emaar Properties underlines the strong activity that we are seeing in the Sukuk sector, with listings so far this year on Nasdaq Dubai from UAE and overseas issuers valued at a total of 8.85 billion US dollars,” chairman of Nasdaq Dubai Abdul Wahed Al Fahim said.

Moreove, Hamed Ali, CEO of Nasdaq Dubai stressed that the exchange would reinforce collaboration with the Emaar to support its financing activities and position as “one of the UAE’s most dynamic and prominent enterprises”.

“As one of the world’s largest exchanges for Sukuk listings with a total nominal value of 58.7 billion US dollars, with 55% of that value coming from non-UAE issuers, we are preparing for further listings from a range of regional and international public and private sector issuers,” Ali added.

On 17 September, Emaar Properties revealed it had signed the final terms of issuing $500 million trust certificates that have an annual return of 3.875% and will be matured in 2029.

Dubai - Mubasher: Damac Properties, a Dubai-based property development company, revealed it has achieved 4.4 million safe hours at AYKON City, the $2 billion luxury mixed-use project being developed on Sheikh Zayed Road.

This comes as a result of the company’s dedication to its workers' safety since 2002 by adopting the highest safety standards, according to a press release.

Niall McLoughlin, senior vice president of DAMAC Properties, said: “DAMAC’s ‘Safety First’ culture plays a central role at every stage of our business process. Whether it’s awarding construction contracts or conducting regular independent assessments by HSE auditors, at DAMAC, we believe in going the extra mile when it comes to achieving our goal of ‘zero incidents’.”

“I congratulate the project management and HSE teams on this exemplary safety performance. We will continue to adopt new and innovative ways to enhance our health and safety performance even further,” McLoughlin added.

Earlier this year, Virtual Reality pods were installed at AYKON City to simulate real-life hazard scenarios and raise safety awareness among workers.

In 2018, Damac had recorded 25 million safe worker hours at the DAMAC Towers by Paramount.

Abu Dhabi - Mubasher: Aldar Properties, a leading real estate development, management, and investment company based in Abu Dhabi, announced the contribution of AED 36 million to the UAE’s national fund Sandooq Al Watan.

This brings Aldar’s total contributions in the fund to AED 120 million, according to a press release.

As a part of the contribution, the company is dedicating AED 4.5 million to fund research grants into water scarcity and usage.

The research funding will be managed by Sandooq Al Watan as a part of its SWARD programme via its platform - researcher.ae, the release highlighted.

The SWARD programme aims at connecting academia and industry in the UAE to deliver substantial social and economic outcomes.

Talal Al Dhiyebi, CEO of Aldar Properties, said: “We are immensely proud to support Sandooq Al Watan with an annual contribution to support its incredible works to create new opportunities for the next generation of UAE Nationals.”

For his part, Mohamed Al Qadi, director-general of Sandooq Al Watan, said: “Aldar is not only one of our biggest donors, it is a key partner in delivering some of our biggest initiatives to date. By leveraging their experience in education, investment, and retail, we have been able to maximize the impact of our initiatives and benefit over 5,000 Emiratis since our inception in 2017.”

UAE – Mubasher: IMKAN, an Abu Dhabi-based real estate developer, announced on Tuesday it has handed over Villa Diyafa Boutique Hotel & Spa, a high-end boutique hotel in Rabat, Morocco.

Construction work at the hospitality project, located in the embassy district of Rabat, is 100% complete, according to a press release.

The five-star hotel is ready to welcome guests on 16 October 2019, the property developer highlighted.

Villa Diyafa Boutique Hotel & Spa, is set to be a hub for diplomats and esteemed guests from all over the world, has a built-up area (BUA) of 3700 square metres and comprises 38 deluxe rooms.

The luxurious boutique hotel offers premium service authenticated by IMKAN's commitment to develop specially-made places that meet the desires and lifestyles of visitors.

The Abu Dhabi-based developer further noted that the Ziryab inspired project will be operated by its sister company H Hospitality Collection which was founded in 2015 by Abu Dhabi Capital Group.

Walid El-Hindi, IMKAN’s CEO, said: “Delivering Villa Diyafa, is another major milestone in a successful year for IMKAN after our recent acquisition in Egypt. Today marks the next step on our journey to international markets and I’m proud of the hard work carried out by our team in partnership with our sister company and hotel operator H Mark hotel.”

IMKAN also pointed out it will deliver three projects in the UAE this year; Sheikha Fatima Park, Nudra, and Thanaya in Abu Dhabi, in addition to handing over the first phase of Alburouj in Egypt.

UAE - Mubasher: Abu Dhabi's creator of destinations, Miral, on Tuesday unveiled major progress in the $3.3 billion Yas Bay project, according to a company statement.

Yas Bay’s public realm and infrastructure are expected to be completed in December 2019, Miral added, noting that 75% of the construction of Yas Bay Arena was completed.

Situated on 14 million square feet, Yas Bay includes three distinct areas: the Waterfront, Residences at Yas Bay, and twofour54.

The Waterfront will incorporate Yas Bay Arena, two world-class hotels, and a beach club, along with a boardwalk and pier that are set to have 37 cafés and restaurants, and 19 retail outlets.

Residences at Yas Bay community will accommodate 15,000 residents through 35 residential plots. The community will also include 19 recreational parks, 3 Mosques, and 2 schools.

Moreover, the new 3.2 million square feet home of Abu Dhabi's media and entertainment hub, twofour54, is projected to attract 10,000 professionals.

UAE - Mubasher: Khidmah, a leading facilities management and maintenance company in the region, revealed that it has been awarded 14 new contracts in Abu Dhabi, Dubai, Sharjah, and Ras Al Khaimah following a highly competitive bid process.

In Abu Dhabi, Khidmah has won five contracts from Aldar Properties in Al Saadiyat Island, according to a press release.

Under these contracts, Khidmah will be in charge of providing hard and soft facilities management services for Mamsha Al Saadiyat, Jawaher, Cranleigh Abu Dhabi School Accommodation, Saadiyat Beach Retail, and Marsa Al Bateen.

Aldar Properties has also assigned Khidmah for the provision of facilities management services for a number of first-rate commercial properties including Aldar Headquarters, Al Mamoura, Baniyas Towers, Daman House, and Motor World.

Moreover, Khidmah has been awarded a three-year contract from the Ministry of Education to cater maintenance and facilities management services to its various assets, the company added.

The company has also secured a contract to operate and conduct maintenance of a number of civil and electromechanical works for Nation Towers, the release said, added that Khidmah will offer its services to International Capital Trading.

In Dubai, Khidmah has been awarded the provision of facilities management FM services to the gated community Nada Al Sheba Villas.

“In Sharjah and Ras Al Khaimah, Emirates National Schools will be the latest additions to be added to Khidmah’s roster of clients,” the company noted.

It is worth noting that Khidmah has been awarded a total of 29 contracts across the UAE since the beginning of 2019.