multi commodity exchange of india ltd ( mcx ) ( bse : 534091 ) is an independent commodity exchange based in india .

it was established in 2003 and is based in mumbai .

it is india 's largest commodity futures exchange where the clearance and settlements of the exchange happens and the turnover of the exchange for quarter ended june 2017 was 12.01 trillion rupees .

mcx offers futures trading in bullion , non-ferrous metals , energy , and a number of agricultural commodities ( mentha oil , cardamom , crude palm oil , cotton and others ) .

in 2016 , mcx was seventh among the global commodity bourses in terms of the number of futures contracts traded , the latest yearly data from futures industry association ( fia ) showed .

in february 2012 , mcx had come out with a public issue of 6,427,378 equity shares of rs. 10 face value in price band of rs. 860 to rs. 1032 per equity share to raise around $ 134 million .

it was the first ever ipo by an indian exchange and made mcx india ’s only publicly listed exchange .

from september 28 , 2015 , mcx is being regulated by the securities and exchange board of india ( sebi ) .

earlier mcx was regulated by the forward markets commission ( fmc ) , which got merged with the sebi on september 28 , 2015 .

multi-commodity exchange appointed of mrugank paranjape as md & ceo of the exchange on february 29 , 2016 for a period of three years .

mrugank paranjape has earlier working with deutsche bank for last 14 years .

multi commodity exchange

national multi commodity exchange ( nmce ) , india’s first demutualised online national multi - commodities exchange will merge with indian commodity exchange ( icex ) .
the merged entity will create india’s third biggest commodity exchange . the largest commodity exchange by volume is the multi commodity exchange ( mcx ) followed by national commodity and derivatives exchange ( ncdex ) .
national multi commodity exchange ( nmce ) , india’s first de - mutualised online national multi - commodities exchange , will merge with the indian commodity exchange ( icex ) .
at present , india has six national commodity exchanges namely , multi commodity exchange ( mcx ) , national commodity and derivatives exchange ( ncdex ) , national multi - commodity exchange ( nmce ) and indian commodity exchange ( icex ) , ace derivatives exchange ( ace ) and universal commodity exchange ( ucx ) apart from numerous regional exchanges .
buy multi commodity exchange of india , target rs 1155 . 0 : kunal bothra
multi - commodity exchange of india net jumps 56 . 4 to rs 34 crore
mumbai : national multi - commodity exchange ( nmce ) , india’s first demutualized multi - commodities exchange , will merge with indian commodity exchange ( icex ) , a joint statement said on monday .
multi commodity exchange of india ltd . stock price , share price , live bse / nse , multi commodity exchange of india ltd . bids offers . buy / sell multi commodity exchange of india ltd . news & tips , & f & o ; quotes
buy multi commodity exchange of india ltd . , target rs 1400 . 0 : ubs
buy multi commodity exchange of india ltd . , target rs 1020 . 0 : kunal bothra
© copyright 2010 . all rights reserved . multi commodity exchange of india ltd . ( mcx )
534091 stock price - multi commodity exchange of india ltd . stock quote ( india : bombay ) - marketwatch
nmce is the first de - mutualised , online multi - commodity exchange in india , set up in october 2002 .
multi commodity exchange of india ltd . operates as an electronic commodity futures exchange . it facilitates online trading , clearing , and settlement of commodity futures transactions . the company was founded on april 19 , 2002 and is headquartered in mumbai , india .
sell multi commodity exchange of india ltd . at a price target of rs 790 and a stoploss at rs 830 from entry point .
buy multi commodity exchange of india ltd . at a price target of rs 825 and a stoploss at rs 775 from entry point .
the multi commodity exchange of india ( mcx ) is india ' s largest derivatives and commodities exchange and controls around four fifths of india ' s rapidly expanding public - trading market for commodity futures . international investors including fidelity and nyse euronext also hold stakes in mcx .
multi commodity exchange of india ltd . , incorporated in the year 2002 , is a mid cap company ( having a market cap of rs 3872 . 82 crore ) operating in finance sector .
multi commodity exchange ( full form of mcx ) as the name suggests is an exchange like bse and nse where commodities are traded . it is a platform for commodity traders that facilitate online trading , settlement and clearing of commodity futures transactions , thereby providing a platform for risk management ( hedging ) . it was established in november 2003 under the regulatory framework of fmc . in 2016 , the fmc was merged with sebi and mcx as an exchange falls under the regulatory purview of sebi .
there are 24 commodity exchanges in india . there are three national level commodity exchanges to trade in all permitted commodities . they are :
commodity trading is about the simple economics of demand and supply . more the demand for a commodity higher is its price and vice versa .
the mcx was launched in november 2003 by financial technologies ( india ) ltd ( ftil ) , a financial services software firm which secured one of the four licenses offered when the indian government ended a longstanding ban on commodities exchanges in 2002 . it has since grown more rapidly than its two main domestic rivals , national multi - commodity exchange ( nmce ) and national commodity and derivatives exchange ( ncdex ) , and is now the market ' s leading derivatives exchange .
according to the annual futures industry association ' s survey of the world ' s leading derivatives exchanges in 2017 , the multi commodity exchange of india was ranked as the world ' s 20th largest derivatives exchange by contract volume . the report said futures and options traded on mcx grew 8 percent from 2016 , to 198 million contracts .
mcx launches commodity options trading with gold on dhanteras . economic times of india .
the exchange ' s spokesperson declined to give any reason for postponing the launch .
a commodity is a product having commercial value that can be produced , bought , sold , and consumed . a commodity market is the place where these commodities are traded .
it is the first de - mutualised electronic multi - commodity exchange of india . some of its key promoters are central warehousing corporation ( cwc ) , national agricultural co operative marketing federation of india limited ( nafed ) , gujarat agro industries corporation limited ( gaic ) and punjab national bank ( pnb ) .
urltoken it is the first de - mutualised electronic multi - commodity exchange of india . some of its key promoters are central warehousing corporation ( cwc ) , national agricultural co operative marketing federation of india limited ( nafed ) , gujarat agro industries corporation limited ( gaic ) and punjab national bank ( pnb ) .
in online commodity trading , client cannot go for delivery & all positions are cash settled .
commodity trading in india has a long history . in fact , commodity trading had started in india much before it started in many other countries . however , years of foreign rule and government policies had caused the commodity trading in india to diminish . it was restarted recently .
cme group and multi commodity exchange of india ltd ( mcx ) have a strategic partnership realized through a licensing agreement enabling mcx to settle their rupee denominated oil and gas contracts to cme group’s prices . read more about the licensing agreement about mcx established in 2003 , mcx is a demutualized electronic commodities futures exchange providing online trading , clearing , and settlement across 40 different commodities products . learn more at urltoken
just as sebi regulates the stock market , forward markets commission ( fmc ) regulates commodity market .
it provides a platform for producers to hedge their positions according to their exposure in physical commodity .
a commodity futures contract is an agreement between two parties to buy or sell the commodity at a future date at today ` s future price . futures contracts differ from forward contracts in the sense that they are standardized and exchange traded . in other words , the parties to the contracts do not decide the terms of futures contracts ; but they merely accept terms standardized by the exchange .
other early shareholders included : national bank for agriculture and rural development ( nabard ) , the national stock exchange of india ( in which ftil held a 1 percent stake ) , union bank of india , canara bank , bank of india , bank of baroda , hdfc bank and sbi life insurance , passport capital and glg partners . [ 3 ] the company has fostered product development with a dozen alliance partners , including the london metal exchange , the new york mercantile exchange and the tokyo commodity exchange .
icex is a deemed recognised stock exchange providing a nationwide online trading platform in commodity derivatives . it has put in place assaying and warehousing facilities in order to facilitate deliveries . reliance capital is its largest investor .
it provides a platform for producers to hedge their positions according to movement of the prices of the commodity .
the emergence of online trading would enable growth in the commodity market , much akin to the one seen in the commodity market . it would also ensure bringing the market closer to both , the user and the trader .
commodity trading is an exchange where various commodities and derivatives products are traded . most commodity markets trade in agricultural products and other raw materials and contracts based on them . these contracts can include spot prices , futures , forwards and options on futures . other sophisticated products may include interest rates , environmental instruments , swaps , or ocean freight contracts .
we offer a robust and regulated exchange for you to mitigate risks through investments and trade in commodities with ease .
mcx holds a 49 percent stake in the dubai gold & commodities exchange , where jignesh shah is listed as vice chairman .
mcx is an independent and de - mutualised multi commodity exchange . mcx features amongst the world ` s top three bullion exchanges and top four energy exchanges . its key shareholders are financial technologies ( i ) ltd . , state bank of india and its associates , national bank for agriculture and rural development ( nabard ) , national stock exchange of india ltd . ( nse ) , fid fund ( mauritius ) ltd . - an affiliate of fidelity international , corporation bank , union bank of india , canara bank , bank of india , bank of baroda , hdfc bank and sbi life insurance co . ltd .
national spot exchange ltd ( nsel ) is a state - of - the - art electronic , de - mutualised commodity spot market . the exchange is promoted by financial technologies ( india ) ltd ( ftil ) and national agricultural cooperative marketing federation of india limited ( nafed ) . it provides an electronic , transparent , well organized and centralized trading platform with the facility to access and participate in the market remotely .
urltoken mcx is an independent and de - mutualised multi commodity exchange . mcx features amongst the world ` s top three bullion exchanges and top four energy exchanges . its key shareholders are financial technologies ( i ) ltd . , state bank of india and it ` s associates , national bank for agriculture and rural development ( nabard ) , national stock exchange of india ltd . ( nse ) , fid fund ( mauritius ) ltd . - an affiliate of fidelity international , corporation bank , union bank of india , canara bank , bank of india , bank of baroda , hdfc bank and sbi life insurance co . ltd .
multi commodity exchange of india ltd . key products / revenue segments include fees & other charges which contributed rs 238 . 60 crore to sales value ( 91 . 96 % of total sales ) , other operating revenue which contributed rs 18 . 19 crore to sales value ( 7 . 01 % of total sales ) and ware housing charges which contributed rs 2 . 64 crore to sales value ( 1 . 01 % of total sales ) for the year ending 31 - mar - 2017 .
in 2013 , shares in financial technologies plunged 68 percent after july 31 , 2013 when regulators suspended trading in most commodities contracts at the exchange . a flurry of news reports said that other markets were interested in buying stakes in mcx including a partnership stake by united stock exchange and the bombay bullion association . another report sited the universal commodities exchange as a potential merger partner with mcx . [ 5 ] [ 6 ]
get acquainted with the commodity derivatives market . the programme focuses on the modalities of trading in commodity markets , its operations and practices , clearing , settlement and delivery procedures , and its regulatory and legal framework . a specially prepared study material is provided to all candidates who register for the test .
financial technologies ' chairman jignesh shah , and former managing directors joseph massey and shreekant javalgekar were prohibited by regulators from holding any position at the exchange .
the proposed merger will create india’s third largest commodities exchange , offering a range of contracts including bullion , oil , rubber and other agri - commodities . the exchange will also offer the world’s first diamond futures contract , which has already received “in - principle” approval from the regulator , according to the statement .
commodity futures traders are required to deposit low margins , roughly 5 to 10 % of the total value of the contract , much lower compared to other asset classes .
multi commodity exchange of india are not in any manner answerable , responsible or liable to any person or persons for any acts of omission or commission , errors , mistakes and / or violation , which are actual / perceived by us or our partners / agents / associates , of any of the rules , regulations and bye - laws of the said exchanges or any other laws in force from time to time . they are also not answerable , responsible or liable for any information on this website or for any services rendered by us , our employees , and our servants .
in december of 2013 the board of mcx asked financial technologies of india to cut its holding in the exchange from 26 percent to 2 percent after india ' s regulator , forward markets commission , said it was unfit to own a controlling stake . [ 4 ] the move by the regulator stemmed from a payment default by an mcx subsidiary called the national spot exchange ltd . in october 2013 . police seized property and shares worth $ 487 million from exchange officials and defaulters in the investigation .
all data supplied by morningstar real - time data . u . s . intraday real - time exchange quotes are sourced from bats bzx exchange when available . end - of - day quotes for nasdaq , nyse , and amex securities will appear 15 minutes after close . graph times are eastern standard . © copyright morningstar , inc .
the boards of the two exchanges have approved the merge move , said a joint press release . the proposed merger will create the country’s third - largest commodities exchange .
this is the first merger deal in the commodity exchange space in india . it has been approved by the boards of both exchanges and is expected to be completed by december 2017 , subject to regulatory approvals . in the merged entity , the icex will hold a 62 . 8 % stake , while nmce shareholders will own the rest .
in april of 2016 it was reported that cme group plans to take a 15 per cent stake in mcx , following the indian government’s decision to increase foreign holding in indian commodity exchanges to 15 per cent from five per cent . currently , a single investor cannot own more than 15 per cent in a commodity exchange . cme had placed a non - binding bid in 2014 when financial technologies had to sell its 26 per cent stake in mcx , an unnamed source was quoted as saying . [ 7 ]
trading in commodity futures is transparent and a process of fair price discovery is ensured through large - scale participation . the large participation also reflects views and expectations of a wider section of people concerned with that commodity . online platform : producers , traders and processors , exporters / importers get an online platform through mcx / ncdex for price risk management .
dabba trading is an illegal activity , wherein trades are carried out outside exchange trading platform & investors are not protected against non - receipt of funds , commodities & securities .
much like the exchanges in the equity market , commodity futures market have clearing houses , which guarantee that the terms of the contracts are fulfilled , thereby eliminating the counter party risk .
government had established regulatory body is forward markets commission ( fmc ) in 1953 . it was merged with the securities and exchange board of india ( sebi ) in september 2015 .
intraday data provided by six financial information and subject to terms of use . historical and current end - of - day data provided by six financial information . all quotes are in local exchange time . real - time last sale data for u . s . stock quotes reflect trades reported through nasdaq only . intraday data delayed at least 15 minutes or per exchange requirements .
the rise in participation would decrease the risk of cartelisation , ensuring a holistic view on the commodity . hence , pricing would be more practical and less irrational leading to fair price discovery mechanism .
futures contract is a type of forward contract . futures are exchange traded contracts to sell or buy standardized financial instruments or physical commodities for delivery on a specified future date at an agreed price .
the merger will help icex to further strengthen its position in the country’s fast - growing commodity derivatives market . it will result in greater financial strength , the consolidation of clients and members , an enhanced product basket , and higher operational synergies .
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financial technologies had been the largest shareholder in the exchange but its top executives were deemed
not fit and proper
to run any exchange in india in december 2013 . ( see
trouble at mcx
below ) financial technologies initially held at 64 percent stake in mcx but wound that down to 26 percent by 2013 . when regulators cracked down on the firm , it was forced to reduce its stake to less than 2 percent by the end of 2013 . [ 1 ]
a consortium of institutions promotes ncdex . these include the icici bank limited ( icici bank ) , life insurance corporation of india ( lic ) , national bank for agriculture and rural development ( nabard ) and national stock exchange of india limited ( nse ) .
urltoken a consortium of institutions promotes ncdex . these include the icici bank limited ( icici bank ) , life insurance corporation of india ( lic ) , national bank for agriculture and rural development ( nabard ) and national stock exchange of india limited ( nse ) .
the new exchange will offer a wide range of contracts , including bullion , oil , rubber , and other agri - commodities . it will also offer the world’s first diamond futures contract , which has already received in - principle approval from the marker regulator sebi .
total foreign institutional investment holdings in mcx fell dramatically in q4 of 2013 , during the exchange ' s regulatory actions to 25 . 23 percent , from 37 . 9 percent , while non - institutional investors rose to 34 . 5 percent from 21 . 9 percent .
commodity futures traders are required to deposit low margins , roughly 5 to 10 % of the total value of the contract , much lower compared to other asset classes . the low margin , which again varies across exchanges and commodities , facilitates the taking of large positions at lower capital .
it is the minimum percentage of the contract value required to be deposited by the members / clients to the exchange before initiating any new buy or sell position . this must be maintained throughout the time their position is open and is returnable at delivery , exercise , expiry or closing out .
commodity returns have historically had low or negative correlations with the returns of other major asset classes , and may be used to diversify a portfolio . other factors remaining same , diversified portfolios with low aggregate correlation tend to have lower volatility of returns . therefore , diversification may improve risk - adjusted returns .
cme group is the world ' s leading and most diverse derivatives marketplace . the company is comprised of four designated contract markets ( dcms ) . further information on each exchange ' s rules and product listings can be found by clicking on the links to cme , cbot , nymex and comex .
“the merger will result into greater financial strength , consolidation of clients and members , enhanced product basket and higher operational synergies , helping icex to further strengthen its position in the fast - growing commodity derivatives market in india , ” said sanjit prasad , managing director and chief executive officer ( ceo ) , icex .
attention investors : “prevent un - authorized transactions in your account - - > update your mobile numbers / email ids with your stock brokers and depository participants . receive information of your transactions directly from exchange or depository on your mobile / email at the end of the day . issued in the interest of investors”
in october of 2017 , mcx launched an options contract on gold with gold ( 1 kg ) futures as the underlying . the launch , which occurred on the first day of the diwali festival , was part of an effort by the indian government and sebi to develop commodity derivatives markets in india . [ 9 ]
a commodity market facilitates trading in various commodities . it may be a spot or a derivatives market . in spot market , commodities are bought and sold for immediate delivery , whereas in derivatives market , various financial instruments based on commodities are traded . these financial instruments such as ' futures ' are traded in exchanges .
changing macroeconomic factors ( like inflation ) tend to impact commodities differently from other financial products . prices of goods and services rise in tandem with input prices , while prices of stocks and bonds tend to decline because of rising commodity input prices which put pressure on the economy and lower the value of future cash flows .
a . investors . b . producers / farmers . c . importers / exporters . d . commodity financers . e . agricultural credit providing agencies . f . hedgers , speculators , arbitrageurs . g . large scale consumers . for e . g . refiners , jewelers , textile mills h . corporate having risk exposure in commodities .
on april 15 , 2010 , mcx - sx announced it had completed its regulatory compliance the shareholder structure of the exchange . mcx - sx announced its shareholders at that time , notably , ifci limited as the largest shareholder with a 13 . 23 percent stake , union bank of india with 11 . 5 percent and punjab national bank with 9 . 2 percent . [ 12 ]
an affiliate of fidelity acquired a 9 . 24 percent stake in february 2006 for $ 49 million , and citigroup and merrill lynch each bought a 5 percent holding in september 2007 . nyse euronext took a 5 percent stake in the exchange in june 2008 . it held a 4 . 73 percent stake in september 2013 but sold almost all of it off in the fourth quarter of 2013 . [ 2 ]
“the merger will help icex to further strengthen its position in the commodity derivatives market in india , ” said sanjit prasad , md and ceo of icex . “the large base of warehousing facilities of cwc with storage capacity of 9 . 89 million tonnes will become available to the combined entity pan india , which will help generate more liquidity due to wider participation of the larger base of active members of the combined entity , ” said anil mishra , md & ceo , nmce .
natural gas futures were launched in july 2006 , potato futures in september 2006 , and coffee futures in january 2007 . mcx also has attracted volume in trading kapas , soya oil , cardamom , and menthol oil . on oct . 6 , 2008 , mcx stock exchange ( mcx – sx ) , a subsidiary of mcx , announced the launch of currency futures in mumbai . live trading began on the mcx - sx platform at 9 a . m . on oct . 7 , 2009 .
mcx india is in the miscellaneous sector . the current market capitalisation stands at rs 3 , 872 . 82 crore . the company management includes saurabh chandra - chairman & director , mrugank madhukar paranjape - managing director & ceo , parveen kumar singhal - wholetime director & president , m govinda rao - director , arun bhargava - director , prithvi haldea - director , amit goela - shareholder director , madhu vadera jayakumar - shareholder director , padma raghunathan - shareholder director , hemang raja - shareholder director , chengalath jayaram - shareholder director , shankar aggarwal - director , basant seth - director . it is listed on the bse with a bse code of 534091 and the nse with an nse code of mcx . its registered office is at exchange square , chakala , , suren road , mumbai , maharashtra - 400093 . their registrars are karvy computershare private ltd .
broking services offered by - edelweiss broking ltd . under sebi registration no . inz000005231 ( nse , bse & msei . corporate office : edelweiss house , off cst road , kalina , mumbai - 400098 , tel . ( 022 ) 4009 4400 / 2286 4400 . | kyc is one time exercise while dealing in securities markets - once kyc is done through a sebi registered intermediary ( broker , dp , mutual fund , etc . ) , you need not undergo the same process again when you approach another intermediary . | prevent unauthorised transactions in your trading account - update your mobile numbers / email ids with your stock broker ( s ) . receive information of your transactions directly from exchange on your mobile / email at the end of the day . | prevent unauthorized transactions in your demat account - update your mobile number with your depository participant , to receive alerts on your registered mobile number for all debit and other important transactions in your demat account directly from nsdl / cdsl on the same day . - issued in the interest of the investors . | sebi notification for all investors including retail individual investors for all public issues opening on or after january 01 , 2016 - no need to issue cheques by investors while subscribing to ipo . just write the bank account number and sign in the application form to authorise your bank to make payment in case of allotment . no worries for refund as the money remains in investor ' s account .
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the appointment will be for a period of three years , subject to prior approval from sebi and such other approvals as may be necessary .
a year ago , the company had appointed an md but his name was rejected by the then regulator fmc on the ground that proper procedures were not followed .
since last 14 years . last he was heading db center of the bank .
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the index needs to hold 10 , 800 levels in coming sessions for further upside , but if it breaks then there could be selling pressure , experts said . .
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the market is slowly moving into the hands of the bulls and therefore it is prudent that we adopt a . . .
the currency market seems to get the whiff of the moves in the broader market faster than the rest . the depreciating rupee against the dollar is indeed a concern coz a depreciating rupee leads to outflow of the money from the domestic market . & nbsp ; t . . .
the u . s . the u . s . dollar went down on friday as investors were sifting through the latest jobs data . . .
the u . s . the u . s . dollar went down on friday as investors were sifting through the latest jobs data from the country . total nonfarm payroll employment increased by 213 , 000 in june , beating market consensus , while the unemployment rate rose to 4 . 0 per . . .
dollar index could trade softer this week , with the impact of a full blown trade war with china and relatively softer nfp numbers being slowly priced in by investors . fed is beginning to show some degree of caution on hiking interest rates four times . . .
so near and yet so far ; nifty rally continues as index closes almost exactly at 10850 resistance ; a . . .
we will discuss trade summary where all the trades which are discussed in this letter will be summarizing at one place . bank nifty has seen a breakout today and closed higher . look for buying only . we will share sector performance for trading view . w . . .
markets remained volatile during the week and remained in range of 10 , 600 - 10 , 800 . global markets were under pressure after the us imposed a 25 pct tariff on usd 34 bn worth of chinese imports . moments later , china fired back , accusing the u . s . of vio . . .
expect 10 - year bond yield to trade in the range of 7 . 00 - 7 . 30 % : kotak life
dsp liquidetf closes above 30 - day , 50 - day moving average today .
r etf long term closes above 150 - day moving average of 16 . 90 today .
future life closes above 150 - day moving average of 401 . 60 today .
gmr infra closes above 30 - day moving average of 16 . 28 today .
hercules hoists closes above 30 - day moving average of 122 . 60 today .
market capitalisation . net sales . net profit . total assets . excise . other income . raw materials . power & amp ; fuel . employee cost . pbdit . interest . tax . eps . investments . sundry debtors . cash / bank . inventory . debt . contingent liabilities .
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cong is encountering massive rumbling over alliance in several states . party is facing issues over alliance partners in bengal , punjab , delhi , rajasthan & mp
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the merged entity has been the result of continuous pressure on tariffs and profitability due to free voice and cheap data offers from new jio .
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the cci’s decision , while clearing the ops , contains some views that have important consequences on common investors .
hundreds of customers , who had already placed orders did not get delivery , took to complaining on social media platforms .
nykaa currently offers a limited selection of products under men’s grooming on its main portal with the category being one of the fastest growing ones for the firm .
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the latest round of funding comes about 18 months after the three year - old venture raised $ 4 million , and which was led by american express ventures .
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private procurement and stockists scheme - the government will incentivise private players for purchasing crops from farmers at the msp .
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deyaar is a leading local and regional real estate developer and real estate services company .

at inception , deyaar was the property management unit of dubai islamic bank .

deyaar was later established as a private shareholding company on january 6 , 2001 and commenced operations on june 1 , 2003 .

deyaar

1 deyaar development - business analysis 1 . 1 deyaar development - company overview 1 . 2 deyaar development - business description 1 . 3 deyaar development - major products and services 2 deyaar development - analysis of key performance indicators 2 . 1 deyaar development - five year snapshot : overview of financial and operational performance indicators 2 . 2 deyaar development - key financial performance indicators 2 . 2 . 1 deyaar development - revenue and operating profit 2 . 2 . 2 deyaar development - asset and liabilities 2 . 2 . 3 deyaar development - operational efficiency 2 . 2 . 4 deyaar development - solvency 2 . 2 . 5 deyaar development - valuation 2 . 3 deyaar development - competitive benchmarking 2 . 3 . 1 deyaar development - market capitalization 2 . 3 . 2 deyaar development - efficiency 2 . 3 . 3 deyaar development - turnover – inventory and asset 3 deyaar development - recent developments 4 deyaar development - swot analysis 4 . 1 deyaar development - swot analysis - overview 4 . 2 deyaar development - strengths 4 . 3 deyaar development - weaknesses 4 . 4 deyaar development - opportunities 4 . 5 deyaar development - threats 5 deyaar development - company statement 6 deyaar development - history 7 deyaar development - key employees 8 deyaar development - key employee biographies 9 deyaar development - locations and subsidiaries 9 . 1 deyaar development - head office 9 . 2 deyaar development - other locations and subsidiaries 10 appendix 10 . 1 methodology 10 . 2 ratio definitions 10 . 3 disclaimer list of tables table 1 : deyaar development - major products and services table 2 : deyaar development - key ratios - annual table 3 : deyaar development - key ratios - interim table 4 : deyaar development - key capital market indicators table 5 : deyaar development - history table 6 : deyaar development - key employees table 7 : deyaar development - key employee biographies table 8 : deyaar development - subsidiaries table 9 : deyaar development - locations list of figures figure 1 : deyaar development - total income and net profit figure 2 : deyaar development - financial position figure 3 : deyaar development - operational efficiency figure 4 : deyaar development - solvency figure 5 : deyaar development - valuation figure 6 : deyaar development - market capitalization figure 7 : deyaar development - efficiency figure 8 : deyaar development - turnover – inventory and asset
deyaar has launched the second edition of deyaar al khair , an initiative that provides free maintenance services to underprivileged families across the country .
deyaar owners’ association management , part of deyaar development pjsc ( “deyaar” ) , one of dubai’s leading property developers and real estate service providers , has received the dubai quality appreciation award for the 2017 cycle under the services sector .
through this platform , you can also stay in touch with deyaar owners’ association management . we do hope this secure and private portal helps you enjoy your experience with deyaar properties !
the four were ordered to pay jointly dh28 , 556 , 535 in fines to deyaar .
examines and identifies key information and issues about
deyaar development
for business intelligence requirements .
a meeting of the board of directors of deyaar development , the region ' s fastest growing real estate company , was held on saturday to review the resignations of deyaar chairman dr mohammad khalfan bin kharbash .
dubai : a meeting of the board of directors of deyaar development , the region ' s fastest growing real estate company , was held on saturday to review the resignations of deyaar chairman dr mohammad khalfan bin kharbash , and sultan bin saeed al mansouri , minister of economy and vice - chairman of deyaar .
deyaar processes personal information in accordance with data protection principles and takes reasonable steps to ensure accuracy of data . please be advised that your personal information is stored in a secure central database which is owned by deyaar .
dk , a project evaluation manager at thermo , testified that the company’s executives were directed not to directly deal with deyaar and leave that to as and fl . “the two managers prepared the contracts and sent them to deyaar’s ceo . ”
deyaar has grown exponentially over the past decade to become one of the leading real estate development companies in the region . .
deyaar development , a real estate development company in dubai , has signed a memorandum of understanding ( mou ) with turkey ' s ascioglu group , a developer in istanbul . the mou articulates deyaar ' s strategy to expand in the middle east .
nasser al shaikh , the chairman of deyaar development , has submitted his resignation to the company ' s board of directors .
welcome to deyaar’s customer portal , a one - stop online gateway to access information on all property and community related services and initiatives .
the board applauded the efforts of dr kharbash and al mansouri during their tenure with deyaar and wished them success in their future endeavours .
the director of the financial audit department also testified that he found cheques issued to deyaar’s ceo besides a number of incriminating international money transfers .
deyaar does not warrant the accuracy , adequacy , or completeness of the information presented herein and expressly disclaims liability for any errors or omissions therein . the information presented herein may include data supplied to deyaar by third parties . such data may be amended or changed at any time by third parties without notice to deyaar . accordingly , no warranties of any kind , express or statutory are given in respect of the information .
as part of the dubai cares adopt a school initiative , deyaar will build a school in the western region of nepal and equip it with furniture and gender specific latrines , with 150 students benefitting from the school . the school will also offer adult literacy programs to 60 women . deyaar will also send a group of employees to volunteer their time and effort in support of the construction of the school . the agreement was signed by saeed al qatami , ceo , deyaar development , and tariq al gurg , chief executive officer of dubai cares , during a signing ceremony held at deyaar’s headquarters today .
only the thermo managers were found guilty of embezzling dh500 , 000 and were each fined dh500 , 000 and ordered to pay the amount to deyaar .
at deyaar , we understand the challenges many landlords face when managing their properties . that is why we make the process simple . with our online landlord portal , property owners can easily check unit status and cash flow statements by viewing a list of all properties managed by deyaar through one central portal .
the ascioglu group is calling on investors in turkey to make use of deyaar ' s local expertise for exploring emerging investment opportunities in and around dubai .
according to the records , the thermo managers were awarded a contract by deyaar in june 2005 for u1 and u2 towers in jumeirah lakes worth dh71 million .
deyaar’s operations are divided across four key business units – property development , property management , facilities management and owners’ association management . through these teams , deyaar aims to maximise investor profits , provide customers with the highest level of service in the industry and deliver real solutions that truly enhance the value of their investments .
the former ceo of property developer deyaar , zs , was on monday sentenced to 15 years in jail after he was found guilty of asking and accepting bribes .
he added that “the transaction will strengthen deyaar’s long term capital position and prove to be a prudent move towards the company’s long term growth and revenue diversification . ”
deyaar is understood to have increased its stake from the previous 55 per cent of omega . “the acquisition , ” said deyaar ceo saeed al qatami in the statement , “is in line with deeyar’s long term strategy of consolidating its investment in construction and facility management services , while further fortifying its engineering capabilities for future projects . ”
deyaar development ( deyaar ) , a customer - focused , trusted and valued developer with in - depth market intelligence and property management expertise , today announced its preliminary q1 unreviewed financial results registering aed 51 . 03 million in net profits , and aed 60 . 2 million in revenue compared to aed 36 . 2 million during same period last year .
dubai - uae : 24 june , 2015 – deyaar development pjsc , a leading real estate development company headquartered in dubai , has signed a memorandum of understanding ( mou ) with turkey’s aşçıoğlu group , a prime developer known for shaping significant real estate projects in istanbul . the mou articulates deyaar’s strategy to expand its presence in the wider middle east region .
the mou will facilitate ascioglu ' s foray into dubai ' s hospitality and real estate sectors . it will also enable deyaar to explore new opportunities in turkey in partnership ascioglu .
deyaar development accounted for almost half of the trading volume on the dubai financial market ( dfm ) yesterday as the property company ' s board met to map its future . investors bought and sold more than 103 million deyaar shares during the trading session , pushing the company ' s price down by 4 . 3 per cent to 33 fils . the stock is down more than 43 per cent for the year to date . deyaar share activity has accounted for more than a third of all trades on the market since tuesday of last week .
the board meeting , in its new structure , also decided to appoint nasser bin hassan al shaikh as chairman of deyaar development and khalid mohammad ali al kamda as vice - chairman .
nasser al shaikh , the chairman of deyaar development , has submitted his resignation to the company ' s board of directors , deyaar said in a statement this morning . the move comes just weeks after mr al shaikh was replaced as director general of the dubai department of finance , where he was overseeing the distribution of funds to companies struggling to pay debts and finance operations in the wake of the global financial crisis . government officials gave no reason for his replacement at the time , nor did deyaar executives yesterday after announcing his intention to resign . deyaar said its board of directors would
convene shortly to consider ratification
of his resignation . mr al shaikh is also listed as chairman of amlak finance and vice chairman of the national bonds corporation . bhope @ urltoken
deyaar awarded another contract to the same company in february 2006 for a tower in business bay worth dh76 million and a third contract was for the metropolis tower in the same project worth dh55 million .
we had to make deyaar a brand that people can come and trust . the strategy is interesting , but never forget that the implementation is much more complicated .
@ email : bhope @ urltoken
deyaar’s growth is built on the foundation of uncompromising ethical business practices and a strong corporate governance framework . our values of transparency and reliability guide us in formulating and enforcing the highest standards of corporate governance .
dubai - based deyaar development , a property development firm listed on the dubai financial market ( dfm ) , announced on thursday that it has acquired full ownership of one of its subsidiaries , omega engineering .
signed by deyaar’s ceo saeed mohammed al qatami and aşçıoğlu’s chairman yaşar aşçıoğlu , the partnership mandates the two entities to jointly develop master developments in both turkey and the uae . more specifically , the exclusivity mou will facilitate aşçıoğlu’s engagement in dubai’s hospitality and real estate sectors , while enabling deyaar to explore new opportunities in the republic of turkey in partnership with one of the nation’s pioneering brands in the real estate sector .
another issue that has emerged publicly is deyaar ' s connection to a high - end property development , sky gardens . deyaar entered into an agreement - the exact nature of which is being contested by the different parties - in late 2008 to buy a third of the building but is now trying to cancel that agreement and get a refund of the money it has paid so far . the schools company taaleem has filed a lawsuit against deyaar and national bonds - a company that was providing the financing for taaleem ' s original purchase of a 33 . 3 per cent stake in sky gardens - in the difc courts .
as our valued owner / tenant , we invite you to login to the portal via deyaar’s website to view your automated utility bills and make online payments from the convenience of your home through a secure payment gateway .
in addition to delivering end - to - end property development and property management services and overseeing a wide range of property units across the uae , deyaar today also provides facility management services to commercial and residential units .
established in 2002 , deyaar has grown into a diversified company offering a range of services covering real estate development and facilities management . the dubai financial market - listed company recently announced forming a strategic alliance with dubai south for a joint development of a mixed - use project within the residential district . pw caught up with saeed al qatami , ceo , deyaar development , to get up to speed with the company’s development strategy and new projects .
saeed al qatami , ceo of deyaar , said : “deyaar’s strategy to continuously grow and diversify its portfolio of developments and services has helped us avoid impact of any fluctuations in the real estate sector , as a result of the global economic conditions such as dwindling oil prices . the results achieved in the first quarter of this year affirm that our corporate strategy remains sound and strong placing the stakeholders’ value at the top of its priority . ”
deyaar has recently launched dania district , the second phase of its mega midtown development , which includes six residential buildings ranging from g + 7 to g + 16 comprising a total of 579 apartment units in varying sizes .
deyaar also began a series of consolidations . it allowed distressed customers who had bought multiple units to reduce the number of their holdings while increasing their equity in the remaining units . so a buyer who had paid 20 per cent for two floors of a building could change to having paid 40 per cent for one floor . this left the company with unsold inventory , but that was taken care of in large part by deyaar also consolidating its projects , the fourth step of the strategy . deyaar effectively has been cancelling some projects in areas with a low probability of getting infrastructure on time by convincing buyers to shift their purchases into buildings further along in development .
strategic & over - arching role in the management of the company and its till date strategic planning , deyaar subsidiaries . manage investments , assets , efficiency & performance , development pjsc , uae procuring finance , revenues and costs .
deyaar development ( deyaar ) is a real estate development company . it provides property development , property management , facilities management , leasing and real estate brokerage services . the company owns and manages real estate funds which invest in lands for development , and distressed real estate assets across the middle east and north african region . it also develops and sells residential , commercial and retail properties . the company’s major projects include dubai marina , impz , tecom , jumeirah lake towers , and downtown jebel ali . it has operations in lebanon , the uae , saudi arabia , the netherlands , the us , bahrain and the uk . deyaar is headquartered in al barsha , dubai , the uae .
signed by saeed mohammed al qatami , deyaar ' s chief execuive officer ( ceo ) , and yasar ascioglu , chairman of ascioglu , the partnership mandates the two entities to jointly develop master developments in both turkey and the uae .
mr giebel said that this ensured that deyaar could then sell the defaulted unit to the distressed asset fund at a very steep discount because the company gets to keep some or all of the payments from the defaulted buyer . deyaar would prefer to do this because if it sold the unit at a discount to the market , they would be unfairly competing with their own buyers who were listing their property on the resale market , and destabilising prices in dubai as a whole .
we at deyaar believe in collaborating effectively with our partners to meet the fast changing needs of our customers in this dynamic environment . deyaar leverages its strong relationships with some of the most prestigious financial institutions in the uae to exclusively help our customers gain access to the best mortgage solutions . we employ unique resources to help drive business innovation and form a trusted foundation for strategic decision making , increased agility , and long - term competitive advantage both for our customers and partners .
there is no doubt that hospitality will be a major growth driver for the uae and for deyaar , especially with expo 2020 . by then , dubai will have 20 million visitors , owing to the government’s tourism plans . dubai tourism expects occupancy rates to stay at around 77 per cent until next year . by the end of 2018 , dubai will have 134 , 000 hotel rooms . deyaar is helping to meet rising demand for hotel and serviced - apartment accommodation by providing quality facilities across key growth corridors in dubai .
deyaar is led by its chairman , abdulla ali obaid al hamli , who has overall responsibility for the company’s management across all its business units . a widely respected professional , mr . al hamli currently serves as board member and managing director of dubai islamic bank .
our chief executive officer , saeed al qatami , who has served at deyaar since 2007 , is a highly experienced real estate and financial services professional , bringing a pioneering approach to real estate management through his exceptional leadership skills and profound knowledge of the global real estate sector .
established in 2002 with a paid up capital of aed 18 . 38 million , deyaar has grown exponentially over the past decade to become one of the leading real estate development companies in the region , with a share capital of aed 5 . 78 billion following its ipo in may 2007 .
for this reason , deyaar focused on the default rate from the beginning of the property slowdown last autumn , mr giebel said .
defaults are very dangerous ,
mr giebel said .
the key is to bring this number down as low as possible .
what emerged over months of planning and consultations was a five - part strategy to lower deyaar ' s natural rate of defaults from 50 per cent - a potentially staggering loss of income - to the low single - digit range . at the recently delivered al seef 2 project , the default rate was 3 per cent .
commenting on his new appointment , nasser bin hassan al shaikh said ,
deyaar is an aspiring entity in the real estate sector and i am confident that with the foresight of my fellow board members and the dedication of the team we will soon fortify the position of the company and take it to new heights .
to start , deyaar had to create its first customer service unit . many of the sales staff members had to undergo extensive training to understand things such as how to talk on the phone with angry customers and how to find out what their needs are if they are to be able to continue paying for their purchases . perhaps the most difficult task of all , mr giebel said , was changing the public image of deyaar in the market . the company underwent a complete rebranding with a new logo and corporate image and made itself more accessible to the media in order to give a more transparent account of what was happening at the company , he said .
much like the uae , deyaar has built our credentials on solid foundations that evoke trust and the collaborative engagement of every stakeholder . our unwavering determination to excel in an industry that is fiercely competitive has allowed us to grow as a customer - focused , trusted and valued developer with in - depth market intelligence and property management expertise .
you are about to be redirected to an application form ; by completing this form you confirm that the personal information provided is true and correct to the best of your knowledge . in addition , you have read and fully understand the contents herein and consent to deyaar processing of your personal data for relevant puposes in accordance with the companytms data protection policy .
the concern is what is the strategy going forward ,
mr riley said .
this is something the board needs to consider .
he said the company was seeing
strange levels of liquidity
but there was no immediately apparent reason for this . three of deyaar ' s top executives , including markus giebel , the chief executive , left in april after the board decided to move the company in a new direction . mr giebel was the architect of deyaar ' s recovery strategy after the property recession , but he and the board could not reach an agreement on the final step of his plan to create a distressed - assets fund and increase recurring revenue , according to people familiar with the matter .
management believes that the amounts paid by the group are recoverable from the seller ,
ernst & young , deyaar ' s auditor , said in an introductory note to the financial statements . it added that a sale and purchase agreement had never been signed and
accordingly the terms of mou have automatically terminated due to the passage of time
. bhope @ urltoken
when completed later this year , the atria will be a 32 - storey residential tower and a luxury serviced apartment tower . deyaar released 50 per cent of the serviced apartments to the market and kept the other half for ourselves . our retention of 50 per cent ownership for recurring revenue generation is based on our confidence that this product will make a strong return on investment .
deyaar is one of the largest developers in dubai , its real estate ventures span major growth corridors and prime locations , including business bay , dubai marina , al barsha , difc , jumeirah lake towers , dubai production city , dubai silicon oasis , al barsha south and al barsha heights . the company’s current project portfolio includes iconic residential and commercial tower developments as well as upcoming hospitality developments .
timetric ' s
deyaar development : company profile and swot analysis
contains in depth information and data about the company and its operations . the profile contains a company overview , key facts , major products and services , swot analysis , business description , company history , financial analysis , recent developments , key employees , company locations and subsidiaries , employee biographies as well as competitive benchmarking data .
as a company , we have continuously refreshed our core services with a stronger and broader network of customers . consequently , deyaar’s expertise is increasingly in demand outside ourown portfolio of properties . long - standing partnerships on the development front have helped us differentiate ourselvesfrom our competitors . our wide range of projects is part of the company’s huge property portfolio in the prime commercial business district located in the heart of the city .
the board of directors met yesterday to discuss the company ' s future strategy and its financial position , according to a disclosure on the dfm website . chet riley , an analyst at nomura securities , said the larger issue for investors was what deyaar planned to do in the years ahead . since it had not launched any new building projects , it was likely to see its revenue dry up starting in 2012 , he said .
ascioglu said :
the group has to its credit almost five decades of experience in the turkish market and has succeeding in delivering key projects across the country . our agreement with deyaar is a natural fit as we are two leading companies with similar objectives , track records and values . we believe that by sharing expertise , we can leverage our mutual strengths to assess and capture opportunities that open up in the near future .
taaleem seeks a ruling that it is not obliged to pay the outstanding payments due on the building , court documents show . deyaar said in its first - quarter financial statements that it had paid dh185 . 8 million ( us $ 50 . 5m ) to the seller but expected to get a full refund because the terms of the agreement had expired . national bonds had an outstanding balance of dh186 . 3m , the financial statements show .
so far , about half of the buyers in these buildings had opted for the consolidation option , and mr giebel said the company ' s sales staff were working with the remaining buyers to increase this number . in some cases , they were giving these buyers discounts to accept the transition , he said . still , after all these steps , deyaar is left with a default rate of about 20 per cent . that is where the final step comes in .
dubai cares designs and funds integrated primary education programs that are impactful , sustainable and scalable . education is a critical factor in every child’s development . yet , 58 million primary - age children around the world today do not have access to education and a further 250 million are still not able to read , write or count adequately . dubai cares work is in line with deyaar’s social responsibility strategy which focuses on education as a basis for its contributions in the community .
al qatami said :
we are excited to join hands with turkey ' s leading group in the real estate sector as part of our strategy to expand our global footprint . turkey presents appealing investment opportunities as a key destination in the emerging regional market . as a leader in the uae ' s real estate sector , deyaar will continue to play an active role in focusing on high quality real estate projects while maintaining its commitment to providing shareholder value and exceptional customer care .
deyaar has developed 7 million sq ft of real estate in the uae . we have 7 million sq ft more under development . in the residential market , we are seeing increased demand for high - quality , affordable housing and apartments . more young professionals are entering the market all the time . as the world expo approaches , this trend will continue . the real - estate sector will need to continue adjusting to consumer and demographic trends . what must remain constant , though , is a commitment to the highest quality standards .
launching successful projects has not only allowed our business to grow , but also helped shape entities that are serving as sustainable sources of revenue . this has been made possible by carrying out unique initiatives for the customers leveraging on our strong financial capabilities . we extend unique payment options to potential buyers , making our appealing properties even more affordable . with a firm sense of business fundamentals , deyaar also sought to build a healthy cashflow . the company’s financial strategy through the years makes it possible to maintain debts at a minimum and risks atbay .
at deyaar , we believe we are unrivalled when it comes to knowing the market and knowing our customers . with more than 15 years’ experience , we understand market dynamics and our products are tailored for our loyal customers . we offer value to customers on product , design , service , location and market insight . our development projects , whether residential , commercial or hospitality , are always carefully weighed against market demand . so , we know the uae is undergoing rapid population and tourism growth and these drivers create demand for quality residential and hospitality projects .
commenting on this cooperation agreement , tariq al gurg , chief executive officer of dubai cares said : “what we have achieved so far on a global scale as a philanthropic organization is remarkable . to date , dubai cares is reaching more than 13 million children in 38 developing countries . what is more remarkable is the active support of corporations from the uae such as deyaar development , for placing education on their csr agenda and for realizing and supporting the work we do . we greatly value their support that represents the cornerstone of our philanthropic efforts worldwide . ”
i spent weeks just listening ,
mr giebel said this week .
the key to any business is to get all of the information first and then manage it .
in the months since then , mr giebel and deyaar ' s leadership team have completely redefined the company , turning it into what nomura securities called a
market leader
in a recent report . not only does the company have a new logo and strategy , it is taking some of the most proactive measures in the region to combat the rising number of people defaulting on their property purchases .
the fund , which was created together with dubai islamic bank , will be between dh500 million ( us $ 136 . 1m ) and dh1 billion in size . mr giebel said he had already secured about dh200m in solid commitments to the fund from investors , with another dh300m in advanced negotiations . despite these ambitious efforts , mr giebel said the most important part of deyaar ' s recovery was not the formulation of the strategy .
strategy is always the easy part ,
he said .
the challenge is how do i make the organisation ready to implement the strategy .
the first step the company took was to ease payment plans , he said . this did not solve the problem of defaults , as much as buy the company time to come up with a fuller strategy .
easy payments don ' t solve the problem ,
he said .
they delay the problem .
after this , deyaar started cutting prices of its properties . this made it easier for people who had already bought a home to get a mortgage because their paid - up capital would be higher . it also brought the company ' s properties more in line with the market .
a year ago , deyaar development was in crisis mode . the company ' s former chief executive had just been detained by police on allegations of fraud and the global credit crisis was threatening to overflow into the uae in a serious way . by the time of the cityscape dubai property conference in october , the situation was looking even grimmer , with sales slowing and speculators beginning to flee the market . markus giebel , the chief executive since last august , looked shell - shocked before a crowd of reporters pressing him for details on the company at the time . it turns out he was being quiet for a reason .
the us national has also been accused of dissipating about dh30 million in bribes during his tenure with the company between 2004 and 2007 .
the convict appealed immediately after the verdict was given and the first hearing to be held by the prosecution is scheduled on april 23 .
the dubai criminal court of first instance sentenced zs to 15 years in jail for taking dh20 million as bribe in return for approving contracts with other two companies in the cases dating back to july 2009 .
his accomplices km , 61 , argentinian partner of ambiance technology , and other two fugitives - fl , canadian project manager , and as , british director - general , both of thermo - were sentenced to ten years in jail each after they were found guilty of taking dh10 million in bribes with the help of zs .
the court , however , acquitted them of the charge of using forged documents .
audits of the company’s records and bank accounts of the two managers proved that more than dh30 million was transferred to their private accounts .
a police dog in spain apparently has been trained to perform cpr . in a video of a demonstration posted on facebook by
the new entrance to the sharjah airport was inaugurated on saturday . the ceremony took place in the presence of ali bin
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details on the maintenance of your residential property , lease and tenancy administration , neighborhood amenities and a community activity tracker are also featured on this portal .
please note that these services are currently available for the burlington tower only . we are in the process of implementing the same for our owners association management portfolio .
companies that own , operate , and provide garages and parking space for motor vehicles , as well as companies that offer valet parking services .
companies that develop , operate , manage , lease , sell , broker , appraise , or invest in residential and commercial real estate property holdings ( including free trade zones , industrial parks , special zones , shopping malls , mixed use developments , and others ) .
holding companies that engage in a variety of manufacturing , trading , and / or service industries either directly or indirectly by acquiring other enterprises such that they form a group of companies run as a single organization and under common ownership .
companies that operate and manage commercial and residential properties . management activities include planning and supervising , overseeing rent collection , maintenance , security , housekeeping services , and other managerial tasks . companies may manage properties that the are owned by them or manage properties on behalf of other owners .
companies that provide professional and business - related advice to other organizations . the companies ' activities include analyzing existing problems and suggesting solutions , as well as providing general advisory services , implementation services , product services , transaction services , and support services .
companies that provide various business services to their clients ( including advertising , auctions , business consulting , commercial cleaning , legal , public relations , repair and maintenance , security , translation and interpretation , staffing , survey and statistics , technical and scientific research , fairs and exhibitions , parking facility management ) .
companies that own , operate , and manage entertainment , lodging , travel agencies , tour operators , spas , sports and recreation , as well as other leisure facilities .
holding companies that engage in a variety of industries either directly or indirectly by acquiring other enterprises such that they form a group of companies run as a single organization and under common ownership . conglomerates include organizations with diversified manufacturing , diversified services , diversified trading , and multi - line business activities .
companies that specialize in performing business , consumer , environmental , and other activities for companies , households , or individuals in exchange for fees ; and associations that promote the interests of their members including business and non - business associations or groups .
companies that develop and own commercial and residential real estate properties for sale or rent . the developers generally acquire land for their projects .
companies that manage and operate real estate properties that include residential , commercial , touristic , and mixed - use properties ( also referred to as
facilities management
) . the companies manage tenant leasing / rental contracts , payment collection , subcontracting and supervising of other services such as cleaning and maintenance of the facility . these managed properties exclude free trade zones , industrial parks , special zones , shopping malls , and / or hotel properties .
companies that provide management services on contract or fee basis to lodging businesses . the companies ' activities include planning , supervising and evaluation of operations for owners of hotels , motels , resorts , residential compounds , rooming and boarding , and other lodging facilities .
companies that provide management services on contract or fee basis to leisure - related organizations . the companies ' activities include planning and supervising operation activities and performance for organizations that are involved in entertainment , lodging , sports and recreation , travel and tourism , spas , and other leisure activities .
companies that arrange for the purchase or rental / lease of real estate on a commission or fee basis . the company may represent the buyer or seller in a sale transaction and may represent the landlord or renter / lessee in a rental / lease transaction .
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shariah compliant real estate property investment , development and management ; provides real estate business consultancy and brokerage services . through its main subsidiaries ; provides parking facility and hotel management .
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in january , we announced a 50 - 50 joint venture with dubai south , called the residential district , to develop a 1 . 27 million square - feet site into a mixed use project comprising residential property , retail and hospitality facilities . dubai south is part of the emerging urban landscape of the uae . located beside the world expo 2020 site and al maktoum international airport , the project is set to become a lively , connected community that reaches across the business , entertainment , tourism and family segments .
this year , we will take to the market two more key developments — mont rose , two residential towers and a hotel apartment in al barsha south , which is on track to be handed over by mid - year ; and the atria , a 32 - storey residential tower and a luxury serviced apartment tower in business bay , which will be handed over by the end of the year .
in midtown , located in dubai production city , we are planning to launch two new phases following the success of afnan district and dania district . midtown now spans a built - up area of 4 . 8 million sq ft , with 13 residential developments offering luxury apartments in an integrated urban community .
we are responding to demand for residential accommodation in the uae , with more than 4 , 700 units built and over 4 , 200 under construction . the uae’s population is rapidly growing , especially in urban areas , and the demand for hospitality is rising as the government intensifies efforts to draw more business and leisure tourists , while preparing to host the world expo .
we know , too , that facilities management and property management are fast - growing business segments as clients outsource work to get the right expertise . our portfolio is diversified because we want to offer customers an end - to - end , value - based , complete real estate experience .
that helps to differentiate us in the market . it is what is helping us to scale , as we adapt our business model for what the market wants .
you had recently announced offering a guaranteed 14 per cent return over two years for units at the atria in business bay . in a sluggish market , are you confident about offering these returns ?
the atria , located in business bay’s busy urban hub , will overlook the dubai water canal . the recurring revenues we will generate from our ownership of the units , as well as the revenue raised by selling the other half to investors , demonstrate a sound business strategy and confidence in the market .
we are planning to grow across the business to attract the interest of global investors in our development projects . new projects are due to come on stream shortly , including dubai south , mont rose , the atria and hotel and serviced apartments in al barsha .
among our key focus areas will be the retention of ownership of developments , such as the millennium & copthorne - operated hotel in al barsha and a 50 per cent stake in the atria , so that we can generate recurring revenues for our business .
similarly , in the residential segment , we have 4 , 200 units under construction as the population continues to increase .
as part of our mixed - use developments , we will provide over 1 million sq ft of hospitality facilities .
you cater to a wider spectrum by offering mid - segment properties , both in the residential and hospitality sectors . would you continue that strategy ?
so , our strong performance is based on the quality of what we sell , as well as our knowledge of what the market is seeking . we will continue to offer a well - diversified product and services portfolio to the market .
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from deep crisis mode a year ago , with its chief executive detained on fraud allegations , the company has made a strong comback .
the so - called default rate is a uae property developer ' s worst nightmare . largely , this is because the construction projects here are being financed entirely by buyer payments as they come in . in some more developed economies , much of property construction is financed by loans to the developer to avoid problems caused by hiccups in demand . without these regular payments from buyers , some developers here have been forced to delay projects and stall construction until they can figure out a way to survive .
the company has created a distressed asset fund that will take over property from buyers who default on their payments . this works especially well because of the recent introduction of law no 9 , which specifies how much a buyer is refunded if they default , based on a sliding scale . for instance , if they have paid 30 per cent , but the project is more than 80 per cent complete , they lose the entire amount . if they have paid 30 per cent and the project has not started construction , they would get a refund of 70 per cent of the money they had paid until that point .
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urltoken
filed on august 30 , 2015 | last updated on august 30 , 2015 at 08 . 16 am
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, a global philanthropic organization that aims to provide children in developing countries with access to quality primary education .
the dubai cares adopt a school initiative aims to provide children and adults living in remote areas in a number of developing countries with access to quality primary education by building new schools . each school is built to host at least 150 students and 60 women . in nepal , the initiative strives to increase school attendance in the western region of the country by 15 to 20 per cent , in addition to increasing adult literacy rates by educating 60 women who did not go to school or receive education .
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there is no glory without the glory of the country and its citizens . we have to be proud of our forefathers , who were able to face the harshness of life with a strong will and dedication to shape a better collective future , ” said late sheikh zayed bin sultan al nahyan , founding father of the uae .
with the blessings of our forefathers and the limitless support of his highness sheikh mohammed bin rashid al maktoum , vice president and prime minister of the uae and ruler of dubai , the magnificent vision of the country’s founder president is a reality today with every sector making strong headway in contributing to economic progress and creating growth opportunities for the wider region .
it is indeed noteworthy that the uae has emerged as a force to reckon within the middle east , establishing itself as a dynamic hub for global commerce that integrates technology and advanced infrastructure to offer an international standard of living . the country is poised to craft an even stronger narrative in the future with dubai gearing up full throttle for the upcoming expo 2020 .
today , we can proudly claim to have established a foothold in the uae’s real estate sector as a leading developer and property solutions provider .
as an organisation , we have adapted to changing conditions and consistently invested in building and managing properties on par with global standards . with the continued support of our investors , shareholders and customers , we plan to create value for the communities we serve . profits are essential but in the long run we prioritise social responsibility backed by performance . we aim to chartthe road ahead through consolidating our strengths in pioneering a company that is cosmopolitan in outlook even while drawing inspiration from the country’s resilient roots .
in keeping with these values , we comply with best practice regulations without ever compromising our investors’ and shareholders’ interests .