Apartments in the twin Al Nabat and Al Haseer Palm Residence towers being developed by Nakheel for IFA Hotels & Resorts on The Palm Jumeirah are heading for a sell out with only a few of the initial 246 shoreline freehold properties remaining. Full Report
Dubai eGovernment introduces free online payment facility
for public services through ePayFebruary 25,2004
Dubai citizens can now make online payments for public services at no
additional cost, using the ePay facility on Dubai eGovernment's Payment Gateway.
The free service is provided by Dubai eGovernment as part of its goal of
simplifying the lives of the people and the business community, by offering a
unified mode of payment for public services. This will benefit citizens who had
to previously pay a processing or user fee to make online payments for
some government services.ePay is a highly secure online payment mode that allows registered
users to pay for public utilities or fines using the eDirham card under
approval of the UAE Ministry of Finance and Industry or a credit card. Among the
earliest departments to offer the ePay services were Dubai
Municipality, Department of Health and Medical Services (DOHMS), Electronic Total
Quality Management College (eTQM) and Dubai Development Board."ePay has been well received by members of the public. Dubai
Municipality and DOHMS have reported that the number of customers using ePay for
payment has seen a steady increase in recent months," said Salem Al Shair,
Director, eServices, Dubai eGovernment. "We are delighted to offer ePay as a free
service to online users and we expect more people to take advantage of
this user-friendly facility.""The success has now prompted a number of other key departments to join
the ePay network. In the coming months, most of the government
departments will be offering online payment facility through ePay. This will truly
take us to the most advanced stage of e-governance, bringing us closer
to the ultimate advantage of online services," Al Shair said."Dubai eGovernment has worked closely with banks, concerned
departments, Comtrust and the eDirham portal to ensure that the system is
foolproof," added Al Shair. "All security concerns have been addressed to offer
citizens a secure and user-friendly payment mode, using two different payment
options; eDirham or credit cards. Currently, 60 per cent of online transactions
are done using eDirham, while the rest are through credit cards. Users
have expressed satisfaction over the system and we are confident the
number will increase dramatically as the advantages of ePay are realised by
more departments as well as users.""ePay is the ideal payment mode for settling bills and other public
services because it offers several advantages," said Mahmoud Al Bastaki, ePay
Project Manager, Dubai eGovernment. "It is a centralised payment gateway that
offers the unparalleled convenience of paying any time from anywhere in the
world. It eliminates the need for over-the-counter payment, thus saving time
and inconvenience. It is quick and allows multiple transactions at the
touch of a key.""For the participating government departments, ePay brings several
benefits It helps minimise running costs by automating the systems. It saves
them the costs of maintaining their own online payment facilities. It
unifies the business agreements with all the concerned financial institutions
such as banks and payment service providers. It also saves the government
departments the trouble of selecting payment application development vendors, as
they can directly use an integrated payment application managed by Dubai
eGovernment," Al Bastaki added. Dubai eGovernment is a pioneering initiative in the region to provide online services across the spectrum of corporate and community life in the emirate. It also has a vision to integrateIndividually automated government departments under the single umbrella
of the eGovernment initiative, thus empowering employees across lines
of businesses and levels of government, besides facilitating the lives of
citizens and customers of the government. Dubai has taken a lead in the
region in deploying eGovernment applications and is among the first few
governments in the world to provide such integrated services to its
citizens.The eGovernment portal (www.dubai.ae) is a single contact point masking
the complexity of the bureaucratic procedures, and guiding access to
all services in the easiest possible way. In addition, the eGovernment
initiative seeks to improve and enhance procedures by maximizing the benefit from
technology, so that users from all walks of life will be able to
utilize .Kuwait Monitor - KM correspondent M P Kuttippuram
Hundreds of prisoners pardoned on Kuwait national holidays
by M.P.Kuttippuram
Kuwait : Some 579 prisoners were released and the sentences of 595 others were commuted yesterday in a customary act by HH Amir Sheikh Jaber Al-Sabah to mark the country’s national holidays. Brg. Bader Al-Mullah of the Interior Ministry said 236 of those released were serving time for using drugs. He did not provide any further details. The Amir regularly issues such amnesties on national holidays. Liberation day marks the eviction of Iraqi troops from this country in the US-led 1991 Gulf War that ended a seven-month occupation ordered by former Iraqi leader Saddam Hussein.First private Liberal Arts University opens doors in Kuwait
American University of Kuwait will start first semester in September
2004February 23, 2004 September 2004 will see the start of the first semester of the first,
private Liberal Arts University in Kuwait. The new university is comprised of
two schools of study: the College of Arts and Sciences, and the School of
Management. Established to meet students' need for an American style liberal arts
education, without leaving Kuwait, the university will seek to recruit prospective
university applicants at the 16th Gulf Education and Training
Exhibition (GETX) to be held from April 20 to 23, 2004 at the Dubai International
Exhibition Centre."In the context of the modern world, where international interaction
has become a way of life, Liberal Arts education provides a valuable tool
for establishing mutually beneficial and profitable inter-personal and
inter-social links between people from around the world," said Anselm Godinho,
Managing Director, International Conferences and Exhibitions (IC&E), the
Organizers of the exhibition. "The curriculum of Liberal Arts education is
developed to meet the objective of training young minds to be rational,
analytical and tolerant. Even though the curriculum might not differ too much in
content from other traditions of education, it is the way it is delivered to
the learner that shapes a multi-dimensional, well-rounded personality.""Students of the liberal arts are exposed to studies about society,
history, economics, arts, psychology, science, literature, and philosophy. Such
liberal arts fields enhance a student's education and add depth to his
or her university experience," Sean Dollman, Director, Admissions and
Registration, American University of Kuwait. "Liberal arts make a student
well-rounded and grounded in critical and analytical thinking, advanced writing
capabilities, strong problem solving methods, and effective communication skills.
These skills become the foundation for learning and mastering a field of
study from among the various offerings of AUK, including computer science,
media, history, business, sociology and anthropology, literatures, and
economics."The College of Arts and Sciences at AUK offers Bachelor of Arts courses
in Media Studies & Communication Studies, International Studies &
History, Sociology & Anthropology, Languages & Literature, and Economics. The
College also offers a Bachelor of Science course in Computer Science and
Information Systems.The School of Management offers a Bachelor of Management degree program
with concentration on any one subject from amongst Leadership and
Change Management, Human Resources, Marketing, Entrepreneurship, Business
Ethics and Law, International Business. The medium of instruction is English."The American University of Kuwait is an independent, private,
equal-opportunity, and coeducational liberal arts institution of higher education. The
educational, cultural, and administrative methods and standards of AUK are based on
the American model of higher learning. Our faculty have experience from
prestigious universities, bringing years of research and teaching
excellence to AUK," added Dollman. "At GETX 2004 we will seek future applicants to
the universities various courses. We expect keen interest from students
searching for quality American education, without having to leave the
region.""The objective of GETX is to provide the platform for analysing and
comparing the educational options available to the students in the Gulf. This is
crucial to the future academic and professional success of students and
as an extension, important also to the shaping of the future citizenry
of the region," said Godinho. "Over the past 15 events we have welcomed
the participation of premier institutions from across the world and
witnessed the growth of the education sector in the Middle East. We expect the
16th event to be an important link in this development." -(KM Bureau Kuwait)
Manpower law violators pay hefty fines
Kuwiat: A total amount of KD 721,100 was collected from companies evading the National Manpower percentage law since September 31, 2003, reports local daily. Meanwhile, the number of Kuwaitis currently employed in the private sector has reached 9,603, which is almost 10 per cent of the expatriate strength, source added. A recent statistics released by the Ministry of Social Affairs and Labour also showed a substantive increase in the national manpower in private companies. Meanwhile another reliable source said the Government Manpower Restructuring Program has actually achieved very little, ‘and indicates urgent amendments to encourage citizens to get employed in private companies More Kuwait ReportIFA’S PALM RESIDENCE TOWERS HEAD FOR SELL OUT INVESTORS REAPING 30% RETURN
Dubai -5th February 2004
Apartments in the twin Al Nabat and Al Haseer Palm Residence towers being developed by Nakheel for IFA Hotels & Resorts on The Palm Jumeirah are heading for a sell out with only a few of the initial 246 shoreline freehold properties remaining.
And IFA Hotels & Resorts, a subsidiary of International Financial Advisors (Kuwait), says early investors have now seen a 30% growth on their investment within six months.
“Prices have risen substantially over the past six months due to heavy international demand with investors seeing Palm as a unique and one-off opportunity,” said James Wilson, President and COO, IFA Hotels & Resorts. “The Al Nabat tower is now sold out and we anticipate selling our remaining Al Haseer units within the next few weeks.”
IFA says its properties are in strong demand because of the package offered to buyers including a purchase guarantee, comprehensive service provision from a five-star hospitality operator with rental administration, maid service, concierge, maintenance and administration services.
“The all-in-one package is proving a decisive factor due to the fact that our international clients are seeking a low risk and managed investment, which should deliver capital appreciation and returns from our comprehensive short-term and long-term property rental and reservation system,” said Wilson.
“Regional and international clients are seeking a hassle-free property investment which they will probably make use of for 6-8 weeks a year and the other 10 months they will rent out their properties knowing that they will be well managed by a top quality hotel operator.
“Through extensive customer research, we identified clients’ needs and are fulfilling them. We have attracted international buyers from Kuwait, Saudi Arabia, the UK, Portugal and the rest of Europe, South Africa and Zanzibar, and will shortly be targeting the lucrative Moscow business market for our remaining inventory.”
The Palm Residence apartments, which sell for around US $320,000 to US $1.5 million for penthouses, will have stunning marina and ocean views, iconic architecture, luxurious interior design and their own private beach club. Services to be provided by a five-star hospitality operator include apartment servicing, housekeeping and maintenance, rental administration systems, condominium management and owners’ association, clubhouse management, services and security.
Demand for IFA product on The Palm Jumeirah has been so intense, that the company has brought forward the launch of a series of other products, including its five-star, 460 all-suite Vacation Club timeshare offering. IFA Hotels & Resorts is now the first company to introduce the concept of five-star, luxury timeshare to Dubai.
And IFA Hotels & Resorts has recently entered into a joint venture with The Palm developers Nakheel, for the development of a major shopping complex – Souq Palm – and freehold residences – The Palm Residence Souq – covering 60,000 square metres on the trunk of The Palm Jumeirah. The complex will overlook a 1.5 kilometre canalside Corniche to be called ‘The Golden Mile,’ which will transform it into one of the world’s most sought-after Corniche-style shopping destinations. The joint venture’s shopping and residential complex will cost US $300 million and will cover 750 luxury apartments as well as 220 boutique shops and restaurants.
IFA Hotels & Resorts is a subsidiary of the Kuwait-based International Financial Advisors Company (IFA). The depth and strength of the group places it in the forefront of companies engaged in the development of tourism projects, hotels and resorts in Europe, the Middle East and Africa. It is the force behind the management of the super-premium Sheraton Algarve Hotel and Pine Cliffs Resort in Portugal; part of Starwood’s Luxury Collection, and behind the Zanzibar Beach Hotel and Resort – the largest destination resort on the historic spice island.
In 2003 IFA acquired a 50% shareholding in the existing Zimbali Coastal Resort (www.zimbali.co.za) in South Africa which covers 3.7 million square metres (370 Hectares) and the expansion of the resort will add a further 3.0 million square metres (300 hectares). Additionally, IFA Hotels & Resorts purchased 1 million square metres of land to build the Zimbali Hotel & Resort a 300 bedrooms, five-star hotel, golf course and vacation club.
IFA Hotels & Resorts aims to link its resorts in Zanzibar, Palm-Jumeirah, Dubai, South Africa and Portugal with future planned resorts in Lebanon. This will offer tourists in Europe, the Middle East and Africa a unique network linking the company’s respective hotels, resorts, timeshare and vacation club destinations. (KM News Dubai Bureau)
U.S. business leaders gather in New York to learn about investment opportunities in Dubai
February 25, 2004, Dubai, UAE - Sultan Ahmed Bin Sulayem, Chairman of
Nakheel, LLC, hosted a luncheon with influential U.S. based business leaders in
New York this week. The dialogue focused on business opportunities in
Dubai and how innovative strategies established by the government are
working to help The U.A.E. diversify away from an oil-centric economy and
strengthen its competitive role in today's global market place. Dubai was
presented by Bin Sulayem as "the world's fastest growing city".The presentation focused on commercial as well as residential
opportunities in Dubai and highlighted the Nakheel investments of over $15 billion
already under development or contracted in the Emirate. Bin Sulayem shared
that in addition to the over 60 foreign banks that currently operate in
Dubai, in the first quarter of this year, Dubai will undertake its first debt
securitization sized at 1 billion US dollars through Emirates National
Securitization and Finance Company (a joint venture with ESTITHMAR).
Of key interest to this group was also the expedience of development in
Dubai itself, the diversification of business and corporate representation
already in Dubai and the boldness of development already underway. The point
was clearly articulated about Dubai's development initiatives being
strategic as well as commercially viable.
"This dialogue is part of our continued efforts and commitment to the
growth and development of Dubai's economy and its people," said Sultan Ahmed
Bin Sulayem, Chairman of Nakheel. "Dubai," he continued, "combines three
strong assets: its central location, ideal lifestyle and business reputation.
The worldwide support for our vision in Dubai and The U.A.E. is
strengthened by the enthusiasm that I saw today from some of the top decision makers
in the U.S. and the world."Many leaders from top U.S. investment banks including Dick Bott, Vice
Chairman of Morgan Stanley, John Mack, Chairman of Credit Suisse First Boston,
Steve Ross, CEO, The Related Companies and Mickey Tarnopol, Vice Chairman of
Bear Stearns shared their perspectives and excitement on the great
potential for Dubai. The discussion addressed issues related to continued growth
in Dubai and the potential for the city to become the Middle Eastern
center for commerce and development.Nakheel teamed with Kerzner International and Island Capital
Corporation, LLC to make the luncheon possible. In September, Nakheel and Kerzner
International announced a joint venture to develop Atlantis, The Palm, a 2,000-room
resort and water theme park located at the center of The Palm, Jumeirah.Butch Kerzner, CEO of Kerzner International commented, "The story of
Dubai's tourism industry is spectacular. The government's unwavering
commitment to developing and strengthening its tourism infrastructure reaffirms
our commitment to continuing to operate in this premier destination and was
key in our decision to develop the Atlantis, The Palm."Andrew Farkas, CEO of Island Capital Corporation summed up the room's
excitement by stating, "Dubai is perhaps one of the fastest growing markets in the
world," The potential to become a world leader in tourism, technology,
and real estate investment is being made possible by the government's
unique foresight and perspective."
Nakheel is the uniquely focused property development company behind a
variety of new landmark developments in Dubai. Nakheel's goal is to implement
unique, iconic and genuine solutions that have been conceived after detailed
planning and research. Nakheel aims to redefine the concept of property
development whether residential, tourist, commercial or retail. It has therefore
placed great importance on examining the requirements of the different sectors
of the community and developing its visionary projects around these
findings.Nakheel's portfolio currently includes The Palm, The World, Jumeirah
Islands, The Gardens, The Gardens Shopping Mall, Jumeirah Lake Towers and
International City.
