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Dubai registers real estate transactions worth Dh13.4b this week

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Real estate is on an upswing in Dubai.

The real estate and properties transactions valued at Dh13.4 billion in total during the week ending March 11, 2022, according to the Dubai Land Department (DLD), the Wam reported.

The weekly DLD report said the sum of transactions was 2,333.

As many as 245 plots were sold for Dh2.09 billion, 1,542 apartments and villas were sold for Dh3.29 billion.
The top three transactions were a land in Trade Centre Second sold for Dh198.15 million; followed by a land that was sold for Dh160.14 million in Palm Jumeirah.

Al Merkadh recorded the most transactions for this week — 74 sales transactions worth Dh790.01 million; followed by Al Hebiah Fifth with 53 sales transactions worth Dh113.52 million; and Wadi Al Safa 5 with 33 sales transactions worth Dh170 million in the third place.

The top three transfers for apartments and villas were: an apartment being sold for Dh392 million in Marsa Dubai; an apartment sold for Dh359 million in Burj Khalifa; and an apartment sold for Dh287 million in Al Wasl, according to Wam.

The sum of the amount of mortgaged properties for the week was Dh3.83 billion, with the highest being a building in Palm Jumeirah, mortgaged for Dh1 billion.

A total of 145 properties were granted between first-degree relatives worth Dh4 billion.

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SkyPower and ZETDC Sign landmark power purchase agreements for Zimbabwe’s largest solar project

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In a historic event at the World Future Energy Summit, SkyPower and the Zimbabwe Electricity Transmission and Distribution Company (ZETDC) have signed Power Purchase Agreements (PPAs), marking a significant milestone in the development of the largest solar project in the history of Zimbabwe. The agreements pave the way for the commencement of the Green Giant project, set to deliver 500 MW of solar power, capable of energizing approximately 2 million households.

As previously stated by His Excellency Emmerson Mnangagwa, President of Zimbabwe: “My presidential commitment is to enhance our energy sustainability through renewable energy by collaborating with world-class companies like SkyPower. Today’s signing is a landmark achievement for our nation, setting a robust foundation for our sustainable future.”

The signing ceremony in Abu Dhabi was witnessed by eminent personalities including the Honorable Edgar Moyo, Minister of Energy of Zimbabwe, Lovemore Mazemo, Ambassador of Zimbabwe to the UAE, Eng. Abel Gurupira, Managing Director of the Zimbabwe Electricity Transmission and Distribution Company, Mr. Mazambani Edington Tapera, Chairman of ZERA.

“This is a momentous day for Zimbabwe, demonstrating our commitment to transforming our energy sector and ensuring reliable power for our people”, stated by Eng. Abel Gurupira, Managing Director of the Zimbabwe Electricity Transmission and Distribution Company. Kerry Adler, President & CEO of SkyPower, highlighted the project’s importance, “We are proud to kick off the initial phases of the Green Giant project at this prestigious summit. This partnership exemplifies our dedication to promoting sustainable energy development globally.

Upon completion, this project will stand as a testament to Zimbabwe’s commitment to renewable energy and economic growth.”

“The significance of today’s event cannot be overstated. As we align our efforts with global energy transitions, this project underlines our strategy to integrate renewable energy into our national energy mix significantly,” remarked the Honorable Edgar Moyo.

This accomplishment highlights the country’s favorable environment and underscores the exceptional teamwork and dedicated efforts from both parties.

This initiative is expected to boost Zimbabwe’s economy significantly by creating thousands of jobs and fostering infrastructure development. It is aligned with global efforts towards achieving the UN Sustainable Development Goals and enhancing the quality of life for millions of Zimbabweans.

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Dxb airport issues travel advisory, Emirates suspends travel procedures until midnight

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Dubai International (DXB) is advising passengers not to come to the airport, unless absolutely necessary due to the unprecedented weather conditions in the country.In a statement, Dubai Airports said that flights continue to be delayed and diverted. Passengers are advised to contact their respective airlines for the latest information on flight status.

Dubai Airports assures passengers that they are working hard to recover operations as quickly as possible in very challenging conditions.

On the same note, Emirates Airlines has decided to suspend travel procedures for passengers departing from Dubai starting from 8:00 am on Wednesday, 17th April, until midnight on 18th April, due to operational challenges resulting from adverse weather conditions and road conditions.Emirates Airlines added that procedures for passengers arriving in Dubai and transit passengers will continue.

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UAE receives record-breaking rains, highest in 75 years

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The UAE received the heaviest rainfall on record on Tuesday over a 24 hour period.According to WAM, it surpassed all records documented since the start of data collection in 1949.

The downpour impacted numerous regions across the country.The National Centre of Meteorology confirmed that the record rainfall that fell on the country during the 24 hours until 9 pm on Tuesday, April 16, 2024, is an exceptional event in the UAE’s climate history since the start of recording climate data.The centre said that, so far, the highest rainfall was recorded in the “Khatm Al Shakla” area in Al Ain, reaching 254 mm in less than 24 hrs.

It is noteworthy that the NCM’s Shuwaib station had recorded 287.6 mm on March 9th 2016.

This heavy rainfall is an exceptional event in the UAE that contributes to increasing the annual rainfall average in the UAE, as well as strengthening the country’s groundwater reserves in general.

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