If 2010 was a tough 12 months for Arabtec shareholders, then 2011 has begun on a disconcertingly familiar note. On January 11 the Dubai-based construction giant - which worked on the world's tallest tower, the Burj Khalifa - announced that it was planning a rights issue as well as a $150m, five-year convertible bond. The news saw Arabtec stock drop almost 7% in the two days after the announcement, on fears of earnings-per-share and stock dilution.
Grosvenor House, a Luxury Collection Hotel, Dubai celebrates the first of four new dining experiences to open in the breath-taking Tower Two. Toro Toro (meaning bull) is an all new dining concept developed by internationally acclaimed, Latin American Chef Richard Sandoval. The restaurant offers varied dining experiences that span over two floors on the marina's edge.
This winter, Downtown Dubai will have the brightest nights in the city, ever. The best visual spectacle of the Festive Lighting can be witnessed from At the Top, Burj Khalifa, the world’s highest observatory deck with an outdoor terrace, or The Address Downtown Dubai, the 63-storey hotel next to The Dubai Mall.
After an intense first round, four teams of the best, young culinary talent from leading hotels across the UAE will compete in the final of the Anchor MasterChef Challenge title later this week (15 February). In just two days time, chefs from The Westin Dubai Mina Seyahi Beach Resort & Marina; The Address Downtown Dubai; Grand Millennium Abu Dhabi and Grosvenor House, Dubai, will be facing a 'mystery basket' round, which will test their culinary skill and creative flair to the limit.
Visitors to Dubai Aquarium and Underwater Zoo at The Dubai Mall can now learn more about the awe-inspiring world of aquatic animals with behind the scenes tours and daily animal feeding presentations.
Arif Amiri, Chief Executive Officer at Emaar Retail LLC, which manages KidZania, said: "The media plays an increasingly important role in shaping public dialogue and pushing the knowledge horizons of youngsters.
The company has been involved in some of the most challenging construction projects in the UAE, including the Armani Hotel in Burj Khalifa, Emirates Palace Hotel, the Grand Mosque, Qasr El Sarab resort, Atlantis - The Palm, Burj Al Arab, Ferrari World as well as the Dubai International Airport Terminals 1, 2 and 3.
PwC, the leading international professional services organisation, has relocated its Dubai staff to bigger, more spacious offices in Emaar Square, Downtown Dubai. The customised space of over 50,000 square feet was chosen to accommodate PwC's growing multinational staff in support of its ambitious growth plans, particularly on the UAE, to meet the needs of the market. PwC currently has nearly 600 people based in Dubai, representing 45 nationalities, plus almost 200 people based in Abu Dhabi and 15 in Sharjah.
Palm Strip attributed this increase to the fantastic DSF deals and discounts offered by its retailers and the promotions where shoppers got raffle coupons for a chance to win Nissan cars every day during the Dubai Shopping Festival (DSF) 2011.
Emaar handed over 3,500 units in the UAE and internationally in 2010, including over 770 units in Burj Khalifa, the world's tallest building and over 420 units in international markets. In line with the business strategy of the Group to focus on the core sectors of property development, shopping malls & retail and hospitality, Emaar Properties transferred its healthcare and education assets to renowned service providers, which will contribute to additional recurring rental revenues in 2011 and later years.