Emaar Properties has delivered 9,000 residential
units so far worth Dh13.5 billion, said a senior official. "By
the end of the current year, we will delivered a total of 13,000
units," said Naaman Atta Allah, Emaar's sales director.
These are part of the 21,000 residential units sold
by Emaar so far. More than 60 percent have been purchased by the end
users, while the rest are being traded in the secondary market, with
the premium ranging between 10 and 20 percent.
Naaman said Emaar is developing over 100 million
square feet of residential, commercial, retail and leisure properties
in Dubai. "We currently have over 20,000 homeowners to
date." He said Emaar's overseas projects are making steady
"Construction of the convention centre in
Hyderabad, awarded to Larsson and Toubro (L&T), is progressing
well. It will be ready before next year, before the Asian Development
Bank meeting," he said.
Bids, he said, are going to close shortly for
Emaar's residential project in Hyderabad. Emaar's projects in
Hyderabad also include a golf course.
Naaman Atta Allah was speaking on the sidelines of
a seminar organized by Dubai Property Group last Tuesday.
"As for the future, the world is the
limit," he said. "We expect the strong regional growth to
continue, and we are continuing our internationalization drive by
identifying viable markets and leveraging our alliance networks
"We have already announced projects in India,
Saudi Arabia, Egypt, Jordon, Libya, Pakistan, Morocco, Bahrain and
Qatar, and with our 'Strategic Evolution' plan, through new
partnerships such as Giorgio Armani, Ascott, we will continue to
expand and add value to our existing master-planned communities."
Emaar is also rolling out nine hotels in its Burj
Dubai and Old Town development, with more than 2,000 keys.
QATAR TO SPEND $15B ON LNG SHIPS
Gas giant Qatar will spend $15 billion in the next
five years to add 70 vessels to its fleet of tankers to export more
liquefied natural gas (LNG), said Oil Minister Abdullah Al Attiyah.
The Middle East state, home to the world's
third-largest gas reserves after Russia and Iran, aims to export 77
million tonnes of the super-cooled and compressed gas by 2012.
"Qatar is well committed and overbooked by 2012 in terms of LNG
contracts," Al Attiyah told reporters in Seoul, recently.
"We will build more new LNG ships, about 70,
between now and 2010 and the cost will be about $15 billion." Al
Attiyah, who visited shipyards in the southern city of Pusan at the
start of the week, is on a nine-day tour of Japan and South Korea,
both heavily dependent on oil and gas imports.
Al Attiyah met officials of Hyundai Heavy
Industries Co, the world's top shipbuilder, and visited shipyards of
second-ranked Daewoo Shipbuilding and Marine Engineering Co and
Samsung Heavy Industries
Three shipbuilders in South Korea had already won
orders to build a combined eight new LNG tankers from Qatar due for
delivery by 2007 through earlier deals, he said.
"By 2010, we'll operate almost 90 ships
including existing ones, the biggest fleet in the world coming from
one port," he added.
Qatar is moving closer to its target of becoming
the top LNG exporter by the end of the decade following a string of
supply deals this year worth more than $10 billion. Indonesia is the
biggest supplier of LNG with exports of 25 million tonnes last year.
Al Attiyah said the outlook was bright for sales of
Qatari LNG into Asia. "China and India will play a big role in
the LNG market, and will capture a lot of (LNG) production," he
said, adding that India alone would need more than 20 million tonne
down the road. India's Petronet LNG has an agreement with Qatar's Ras
Laffan Liquefied Natural Gas Co. Ltd. (Rasgas) to import 7.5 million
tonnes per year and is seeking more supplies.
Al Attiyah will also visit the United States in May
where he will look into possible investment in LNG import terminals
with Exxon Mobil Corpand ConocoPhillips.
A fashion show featuring the world premiere of
Catherine Malandrino's designer collection and her ready-to-wear
autumn 2005 collection was the highlight of a recent event held in
The luncheon, which was added to the Dubai World
Cup social calendar last year, has become an occasion for lovers of
fashion and horses to look their glamorous best. It was hosted in
association with Saks Fifth Avenue at the Mina A'Salam, Madinat
Jumeirah. Dubai residents, race enthusiasts from around the world and
the wives and family members of jockeys and trainers arrived in
stylish race wear.
A collection of Jean Paul Gaultier couture hats
designed around the theme of The Three Musketeers. Unlike in
Melbourne, where a ladies luncheon is an established tradition of the
Melbourne Cup, only a few of the guests wore hats. Over a delicious
three course sit down meal, the guests enjoyed Malandrino's elegant
collection that included pants inspired by riding breeches and
feminine dresses and skirts embellished with lace, crochet and
macarame in soft pastel shades.
The designer was present at the show and was happy
with the applause her collection received. Also on display at the
venue was a collection of Jean Paul Gaultier couture hats designed
around the theme of The Three Musketeers. A live band added to the
Courtesy Gulf News