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Colliers Project Leaders, Middle East secures $250-million World Trade Center, Yerevan project

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Leading diversified project management firm, Colliers Project Leaders – Middle East, has won the mandate to deliver end-to-end project management solutions for Armenia’s new World Trade Center in Yerevan, valued at USD ~250 million. A public-private partnership between the Armenian government and Renshin Ltd., the project is designed to be a state-of-the-art mixed-use development that will be home to commercial spaces, offices, retail outlets, hotels and exhibition halls. Well known for its expertise in the real estate industry and project management, Colliers has a proven track record of delivering large-scale, marquee projects including the World Trade Center in Bengaluru, India.

Colliers Project Leaders has a growing presence in the Middle East and has earned widespread recognition for its delivery of superior projects over the years, across segments like infrastructure, residential, education, healthcare and office. Known for its visionary leadership and the adoption of advanced tools and technologies, the firm has been redefining project management in the Middle East.

“We have always placed a strong emphasis on consistently growing our capabilities to keep up with the needs of the market. Whether it is the adaption of global best practices or the development of pioneering technologies, our end goal has always been to deliver superior outcomes. A project of this scale requires industry-leading strategic and technical expertise, which is our proven capability. We are grateful to Renshin Limited and the Government of Armenia for entrusting us with this marquee assignment and look forward to collaborating with our internal and external stakeholders in Middle East, India and Georgia to bring it to life.”, says Sankey Prasad, Chairman & Managing Director, Middle East & India, Colliers.

“The World Trade Center Yerevan project is a mixed-use, net-zero, landmark real estate development promising to become the new face of Yerevan. To deliver upon this promise, we are engaging the top talent, top expertise, and top global firms. After a rigorous and tough tendering process, we are glad to announce that Colliers Project Leaders were selected to become our trusted partners. We are especially happy and proud that our project has triggered Colliers International Group Inc. – Nasdaq & Toronto listed, Canada-based global professional services and investment management company, specializing in real estate, to enter Armenia and set up a permanent presence. This move is fully aligned with WTCY mission to promote international business relationships and expand Armenia’s participation in the world trade and investment. Looking forward to work with our esteemed Colliers colleagues in this unique endeavour”, says Artashes Tonoyan, CEO & Executive Committee Chair, World Trade Center Yerevan.

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World’s tallest wellbeing resort coming to Dubai by 2028

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Dubai is set to become home to the world’s tallest wellbeing resort, according to an announcement made by Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Deputy Prime Minister of the UAE. This new development is part of the Dubai Quality of Life Strategy 2033.

Named Therme Dubai, the resort will stand at 100 meters tall, and it will be located within Zabeel Park. The project is expected to be completed and open its doors by 2028.

The city is investing Dh2 billion in the creation of a new landmark that will include an interactive park and the world’s largest indoor botanical garden, designed to attract 1.7 million visitors each year. Covering 500,000 square feet, the resort will be divided into three distinct zones focused on “restoring, relaxing, and playing.”

“This groundbreaking project underscores our dedication to improving urban biodiversity, promoting environmental sustainability, and providing enriching experiences for both residents and visitors to Dubai,” stated the Crown Prince.

Dubai Municipality recently announced that 216,500 trees were planted across the city in 2024, marking a 17% increase compared to 2023. This equates to an average of 600 trees planted each day last year.

The news was shared on National Environment Day. Earlier, UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan expressed the country’s commitment to global climate action and emphasized the importance of collective responsibility in addressing worldwide environmental challenges.

Sheikh Mohammed, the Ruler of Dubai, also shared a message on social media, highlighting the nation’s focus on sustainability and environmental preservation.

What is the Dubai Quality of Life Strategy 2033?

Launched in May 2024, the Dubai Quality of Life Strategy 2033 aims to improve community well-being and position the emirate as the best place to live globally.

The strategy focuses on transforming Dubai into a pedestrian-, environment-, and family-friendly city, with the goal of ensuring residents can access key services within 20 minutes. It also includes plans for developing Dubai’s surrounding areas.

Additionally, the initiative will see the creation of new public amenities such as parks and beaches. The project includes plans for over 200 new parks, a 300% expansion of cycling tracks along the beaches, and a 60% increase in the length of beaches designated for night swimming. A new women-only beach will also be introduced.

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World Cup-winning football icon Thierry Henry inspires youth at SEF 2025: “Invest in Yourself”

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At the region’s largest entrepreneurial festival, former Arsenal and Barcelona star draw parallels between football and business, encouraging youth to push beyond their limits.

“Invest in yourself—whether it’s in your free time, happiness, or beliefs.” These were the words of French World Cup-winning football icon Thierry Henry as he delivered an impassioned keynote at the Sharjah Entrepreneurship Festival (SEF) 2025 on Saturday, drawing parallels between football and business and recalling his younger days as a player, encouraging youth to push beyond their limits.

“Take risks, because without them, there’s no reward. And remember, if you are here to perform, competition is key—someone is always ready to take your place,” said the footballer when asked by moderator Ghalia Abdalla Almaazmi, Deputy Head of the Women’s Football Committee, UAE Football Association, what mattered more – luck or skill. “Success comes to those who are willing to take risks—without action, there’s no reward. And when you reach the top, staying there requires just as much effort. Keep it simple, stay real, and always be ready to push yourself further.”

But funnily for Henry, who scored 51 times for the Les Blues while helping them to a World Cup trophy in 1998, the start of his ‘journey of excellence’ as a child was all about playing for one man – his father Antoine. “I just wanted to please my dad. [At that age] you just want to make sure that you are seen. I didn’t want to impress anyone else but my dad for whom smiling never came naturally. But one day he smiled. Playing professional football and winning came later,” said the former Arsenal and Barcelona man considered one of the greatest strikers of all time.

The world champion’s take on developing a winning mindset 

Henry, who under long-time mentor and coach Arsène Wenger, became a prolific striker and English premier league club Arsenal’s all-time leading scorer with 228 goals in all competitions, winning the Premier League Golden Boot a record four times, also spoke about one of his earliest coaches Joaquim Francisco Filho and how it helped him develop the ‘winning mindset’. 

“I had coaches along the way. What Filho did was something very important to me. We often talk about being faster and stronger but one of the most important things is how we must think. He developed my winning mindset. For example, when I was younger, I was fast. In training sometimes, he used to tell me I don’t want you to beat anyone but yourself,” Henry said. 

“So keep believing and do not stop. It is you up against yourself at the end of the day. The best discussion you can ever have is with yourself”, he told his audience. 

Leveraging the business of sports as a tool for positive change

Sharing his insights on starting a business in the sports industry, he said: “Sports doesn’t  operate like any other industry. Strategies that bring a company exceptional results might not apply to football. You will be criticised, lose money, but ask yourself, why are you doing this? Is it for money or fame, or are you in it to make a difference?”

“Look at Manchester City – they have transformed the environment around their stadium, created jobs and made the place better. Sports reflect society. It unites people from all cultures, creates change around pressing issues, and allows women to evolve. I hope we can continue to change in that direction.”

Connecting the global ecosystem under the theme of “Where We Belong,” SEF 2025 champions the impact of community and the spirit of innovation. Organised by the Sharjah Entrepreneurship Center (Sheraa) as the largest event of its kind in the region, and hosted at the Sharjah Research, Technology, and Innovation Park (SRTIP), this year’s festival is taking place from 1-2 February, 2025. 

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News Salik rates in Dubai starting today

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Starting today, January 31, Dubai will implement the variable toll system for Salik. According to Salik Company, the new pricing will apply to all Salik gates. The initiative aims to improve traffic flow and create a more efficient driving experience for motorists.

However, there will be no change to the current toll system at Al Safa North and South or Al Mamzar North and South gates. Drivers passing through these gates in the same direction within one hour will still only incur a single charge.

The new variable toll rates will be applied daily throughout the year, except during Ramadan, as follows:

  • Peak Hours (6am–10am & 4pm–8pm): Dh6 per crossing
  • Off-Peak Hours (10am–4pm & 8pm–1am): Dh4 per crossing
  • Late Night (1am–6am, daily): No charge
  • Sundays (excluding public holidays and events): Dh4 across both peak and off-peak hours (late night hours remain free)

During Ramadan, the toll schedule will be adjusted to reflect changes in travel patterns:

  • Peak Hours (9am–5pm): Dh6 per crossing
  • Off-Peak Hours (7am–9am & 5pm–2am): Dh4 per crossing
  • Late Night (2am–7am): No charge

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