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Articles from 2023 In February


Women in Real Estate

‘You don't have to be the loudest in the boardroom’ - Sarah Hewerdine

Article-‘You don't have to be the loudest in the boardroom’ - Sarah Hewerdine

Sarah Hewerdine

It’s easy to see why Sarah Hewerdine has carved a career in real estate and tech marketing. It’s not only because she exudes happiness, or her ability to lean into a challenge, but simply because of her infectious optimism, a rare find.

We meet at a café overlooking the Dubai Museum of the Future. It’s something of an ideal backdrop for our hour-long conversation around career growth for women, the evolution of real estate, and planning for the future.

‘I find myself naturally drawn to real estate’

Right off the bat she admits that her qualifications actually lie in international business, a degree which she picked up at New Haven, Connecticut in the States, followed by a graduate programme in finance for which she trained in Malta. Jumping from continent to continent ignited a love for exploration in her that eventually led the Norfolk-native to Dubai.

As for real estate and technology, she says, that was something she just naturally fell into but loves it all the same. From Property Monitor to Dubizzle Property, today she heads up the marketing at Dubai-based property portal, houza.

“I really enjoyed working with people well versed in property, tech and data and understanding how it all comes together. There are so many opinions in real estate and I like that, there’s always so much happening in this industry and today I find myself naturally drawn to it,” she says laughing.

If her name is familiar, that’s because Sarah features on Dubai Eye where she delivers a weekly update on the Dubai real estate market, offering up current trends to would-be homebuyers.

Dubai Eye

It’s a position which she first found daunting and now she relishes keeping updated on the property market and making it palatable for listeners. “It’s really a full circle career moment,” she says explaining that it was one of her mentors, Lynette Sacchetto, who initially began the on-air property reports until the mantle was passed onto her after houza took over.

Sarah wears her passion for the real estate and tech sector on her sleeve and the conversation quickly turns to what it is about the sector that keeps her motivated.

The answer slips out before she even has time to think about it: “It’s Dubai.”

“The sheer speed at which Dubai has developed and transformed along with the regulations it has introduced over the years has been amazing to see and be part of, especially for women because it’s such a male dominated industry. ”

“Sure, wherever you look in the world real estate is so male dominated, but to be part of the journey, here in Dubai, at this point when it’s still such a young market is special for women in the sector because we can now be part of the growth over the next few years or even decades. The rest of the world’s real estate journey has been so different and to some extent exclusionary.”

‘You don't have to be the loudest in the boardroom’

One of the biggest lessons Sarah has learnt in her career is that she doesn’t have to be the loudest in a male-dominated boardroom to make a point.

“I realised it’s a game of whoever shouts loudest and it’s all too easy to fall into it. It might help in that moment but not in the long run. I’ve realised I don’t have to do that to be heard. It’s taken me a while to understand that women have their own superpowers and strengths that they can channel and I’ve come to embrace my empathy and compassion.”

Last year 1% of VC funding went to women in the UAE. It’s a statistic that saddens Sarah but she remains optimistic that the industry is changing.

“Businesses owe it to themselves to put more of a focus on women. They need to take diversity and inclusion and gender equity seriously. The more businesses who can understand diversity of thought, the more it can advance the real estate industry here. It’s not just on women to shout the loudest, we still need men to advocate and open those doors.”

Sarah is also part of the MENA Diversity and Inclusion forum in the UAE, which brings people from all corporate environments together to discuss issues around equality in the workplace.

‘I would note be where I am today without my mentors’

Early on in her career, Sarah realised the value of mentors and today relies on her very own selection of men and women from around the world who she turns to for career advice, real estate and tech know-how, or when it comes to navigating the complexities of a competitive corporate environment as a woman.

“Imposter syndrome has captured me and I’ve been down that rabbit hole and to have someone I could speak to, who I also deeply admire, tell me they’ve experienced the same thing and it was completely normal was so comforting and served me well.”

At 29, Sarah has relied on mentors for advice when it came to thinking about children and planning for her future. Like many single women her age, she’s had to ask herself serious questions around the impact on her career from starting a family.

“Having women to lean on who have dealt with personal experiences it helps so much and it’s good to have a few as everyone has different strengths. If I didn’t have mentors, I would not be where I am today.”

Everyone struggles to balance childcare and work, but the more you have an open dialogue with those who have gone through it, the more you realise it can be achievable. It has made me realise that I don’t have to compromise my career to settle down and have a family.”

‘I’ve met people I would never get the chance of meeting’

Gulf for good

Look for Sarah Hewerdine on a weekend, and you’ll either find her at the beach surfing, or doing what she loves best, leading hiking groups across mountains in the UAE for charity, Gulf for Good.

Sarah is an ambassador for the UAE-based charity that helps raise money for children in developing countries. Last year, she summitted Kilimanjaro for the charity and raised money for an orphanage in Tanzania, and in 2020 she visited Kyrgyzstan to help build a domestic abuse shelter.

“I’ve met people I wouldn’t get a chance to meet doing this. It’s also a great way to see the world. I feel so lucky and blessed and I if you can give time, money or skills to help someone, why would you not?”

Mount Kilimanjaro

So, what time does she her day start? Curious about when she manages to fit it all in.

“5.30. I never hit the snooze button.”

Somehow, that feels like Sarah in a nutshell.

 

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4th generation cities: The promising future of Egypt real estate

Article-4th generation cities: The promising future of Egypt real estate

new sohag

Egypt is emerging as a hub for sustainable smart living. This is due to the country's plans involving the development of new 4th generation cities. These cities are part of Egypt's Vision 2030, intending to diversify the economy. They are also helping attract foreign capital, along with boosting the economy and population growth. So, let’s look at some of the planned or under-construction new 4th-generation smart cities and what they offer.

NEW SOHAG

Upper Egypt’s New Sohag is currently under development. This city will create an economic hub with innovative infrastructure and advanced facilities.

An extensive medical city will serve the local population and attract medical tourism. The medical city will contain various healthcare facilities. These include hospitals, clinics, research institutes, and medical universities. High-tech sectors within the industrial zone include electronics, pharmaceuticals, and renewable energy.

NEW ALAMEIN

The focus of New Alamein is on luxury living and leading entertainment. This will embrace the stunning landscape and help develop the city into a tourism hotspot.

New Alamein will cover an area of 50,000 acres along the Mediterranean coast. This will make the city one of Egypt’s largest. Also, the city is being divided into several districts. These include a central park, a downtown centre, and residential and commercial districts.

A high-speed train will link New Alamein to Cairo and other Egyptian cities. This is part of the city's innovative transportation infrastructure. The city will also have a smart traffic system, which will help reduce congestion and enhance road safety.

NEW MANSOURA

New Mansoura is being developed in the Nile Delta region. The city will include a range of facilities and services. These consist of a central business district, open areas, and cultural and recreational facilities. The city is also introducing many new educational facilities. This includes a university campus, providing locals with quality education.

Also, the city is being planned as a centre for innovation and technology. This will have an emphasis on sustainable development and renewable energy.

EAST PORT SAID PROJECT (SALAM CITY)

Salam City’s strategic location near the mouth of the Suez Canal makes it a desirable place for investment and trade. The city will contain various industrial zones. These include a logistics centre, a manufacturing hub, and a zone for renewable energy. All these help attract both local and international investors.

There are plans for many residential areas, commercial areas, and public places throughout the city too. All these have the intention of offering people a high quality of life. Salam City's key focus is on sustainability, with a focus on lowering its carbon footprint and promoting eco-friendly living. To restrict traffic and air pollution, the city will include green areas, bike lanes, and public transport systems.

NEW LUXOR

The 3000-acre New Luxor will include many tourist attractions, including museums, art galleries, and theatres. A new international airport is also planned.

The city's key emphasis is on conserving and promoting Egypt's rich cultural legacy. Included in this is the Grand Egyptian Museum, which will open very soon in 2023. As one of the biggest museums in the world, it will display artefacts and relics from ancient Egypt.

The city will also have several luxury hotels, resorts, and residential areas. These are all focused on attracting tourists while offering high-class living. New Luxor will also have modern infrastructure with an aim of creating a connected and accessible city. This will include new roads, bridges, and public transport.

OVERALL PROSPECTS OF EGYPT’S 4TH GENERATION CITIES

New 4th generation cities are providing many great opportunities. They offer an attractive investment opportunity, with a focus on sustainable development, advanced technology, and modern infrastructure.

As Egypt's government invests in these cities and implements its smart city blueprint, there is strong growth potential in Egypt’s real estate market. So, with the country's Vision 2030 providing a clear roadmap for the future, Egypt is in a strong position. This will help transform the country into a leader in sustainable urban development in the MENA region.

 

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Riyadh's future: Saudi Arabia's bold vision for a new downtown

Article-Riyadh's future: Saudi Arabia's bold vision for a new downtown

king Abdullah Financial centre reflection

Saudi Arabia has created a new development company, the New Murabba Development Company. As part of the Saudi Vision 2030 plan, this business will lead the creation of the world's largest modern downtown area in Riyadh. Green areas, walking and cycling lanes, and community events will feature in the project to promote healthy, active lifestyles. As a result, the design of the project has sustainability and wellness in mind.

THE NEW MURABBA PROJECT WILL HAVE A WIDE RANGE OF AMENITIES

The New Murabba project will stand in the northwest of the city at the intersection of King Salman and King Khalid roads. It will cover an area of 19 square kilometres. This area will also offer a wide choice of facilities, amenities, and services.

The area will include over 104,000 residential units, and over 9,000 hotel rooms. Also, it will have around 980,000 square metres of retail space and 1.4 million square metres of office space. But, it will also house 620,000 square metres of leisure assets and 1.8 million square metres of designated community facilities.

It will also contain an impressive museum, a technology and design university, a multifunctional immersive theatre, and over 80 entertainment and culture locations.

Prime Minister and Head of the New Murabba Development Company, Prince Mohammad bin Salman, is optimistic about the project. He emphasised that the project will offer a one-of-a-kind living, working, and entertainment experience. This whole area will have a 15-minute walking radius. But equally, it will have its internal transportation system and will be around a 20-minute drive from the airport. The project is expected to be finished by 2030.

THE ECONOMIC BENEFITS OF THE MURABBA DEVELOPMENT COMPANY

The creation of the New Murabba Development Company is part of the Public Investment Fund's (PIF) strategy. This is a strategy aimed at maximising the potential of promising industries. But also as a way to contribute to the development of real estate projects and infrastructure, and diversify the Saudi economy's revenue streams. It's expected that the project will add SR180 billion to non-oil GDP. But it is also expected to create 334,000 direct and indirect jobs by 2030.

DEVELOPING MUKAAB - AN ICONIC LANDMARK

The New Murabba Development company will also build the "Mukaab". This is an iconic structure with innovative technology. The "Mukaab" will be one of the world's tallest structures, standing 400m high, 400m wide, and 400m long. It will also be the world's first immersive resort. This will combine digital and virtual technology with cutting-edge holographics. Also, the "Mukaab" will have a tower above a spiral core, as well as a structure with 2 million square metres of floor area. This area will function as a high-end hospitality destination. It will feature a variety of retail, cultural, and tourism attractions, as well as residential and hotel units, business spaces, and recreational amenities. The "Mukaab's" design is also influenced by modern Najdi architectural styles.

 

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Women in Real Estate

"Nothing compares to seeing your vision turn into a reality or recognising the contribution that your project brings to the built environment and to society," Christine Espinosa-Erlanda [Part Two]

Article-"Nothing compares to seeing your vision turn into a reality or recognising the contribution that your project brings to the built environment and to society," Christine Espinosa-Erlanda [Part Two]

Christine Espinosa-Erlanda

The architecture industry has traditionally been heavily male dominated. As a young, high-powered woman in this space, have you been confronted with gender-related roadblocks in your career?

Yes, I have experienced some quite apparent gender inequality throughout my career. I look young for my age and have a soft voice, which often raises eyebrows when I attend client meetings. I once participated in a kick-off meeting with a male colleague who was younger and less experienced than me. The client asked for my qualifications as they presumed that I was an assistant and were surprised to learn that I was the architect who had been leading the project. Only then was I accorded the same respect as my male colleagues. I had to step up to prove that I knew what I was doing, and I did have to go that extra mile to overcome this barrier and demonstrate my capabilities.
For most of my professional life, I have been the sole woman on a team of men. I thought back to the occasions when I had to pass along sexist remarks or was sometimes silenced. Working twice as hard to be taken seriously as an architect has always been the norm for me. Initially, I thought I had to be like my male counterparts, but through experience, I realised that I have the advantage of being part of a minority as I bring forth a unique approach to what I do.

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Chrsitine with her family. 

What have been the key drivers of your success?   

A pivotal moment for me was when I found out I was pregnant with a daughter. You see, I didn't worry about my son's future, as I knew the world would be more understanding for him, but my daughter would have to be tougher, so I needed to show her that anything is achievable. I promised that I would commit time each day to improving myself and encouraging other women to do the same.

Entering this industry is not that difficult but working your way up the career ladder can be challenging, especially for those with a family. As an architect mum, I must balance the company's demands with my family's needs, which means being incredibly flexible. Now that flexible hours and ‘work from everywhere’ are the norm, leadership roles have become much more accessible for determined women.

It's no secret that men dominate construction and real estate, but that's about to change. A steady stream of summits and talks are gaining support from the government, which will help us gather momentum as we speak and support each other. I look forward to the day when I won't have to speak up about my importance as a woman in the industry. We are here to stay, and we will help one another until the thinking shifts and diversity and inclusiveness are widely accepted.

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Studies repeatedly prove that diversity is overwhelmingly beneficial in business. How would the architecture space benefit from having more women in positions of power?

The advantages of women in architecture and construction are plentiful, but these are still male dominated industries. Today, company practices are developing, and more businesses understand the benefits of having a diverse workforce. Interestingly, the increase in the number of female-led firms is helping secure the future of women in our industry. Women are usually good at wearing multiple hats and managing time, while also contributing a nurturing perspective.  
Women tend to fragment time and space to combine productive work with family duties, yet because of historical gender bias, the built environment's ability to respond to the needs of half of the world's population fails.
Diversity in the architectural industry leads to success since there's a more comprehensive range of interests to draw from. I firmly believe that everyone should be involved in the creative and design development processes to build better spaces for the cities of the future. When women in architecture show perseverance and dedication, we significantly impact how our society thinks about engineering and architecture as jobs that both men AND women can do. In future, I hope that architecture will no longer be regarded as a male-dominated field, but rather a career available to all.
Successful businesses do not conform to gender or race, and the proof can be seen in the achievements of women worldwide. The more we speak, support and elevate women, the closer we bring ourselves to a future where men and women have equal representation in decisions about future cities. When we are free of preconceived notions and biases, we can significantly impact our future and create communities where gender norms do not define a child's future or a woman's potential.

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Chrsitine speaking in a panel discussion around diversity and inclusion in the real estate industry, at Cityscape Global 2021. 

What advice would you give any aspiring female architects reading this?

The advice I would give to aspiring architects is to follow their passion. If your passion is within architecture, then go for it!

Architecture is a team effort and thrives on collaboration, so work on your communication skills. Voice your opinion, speak your mind, and continue to learn, develop, and grow. Get inspiration, ask smart questions, and plan ahead.

Remember that the profession is for everyone - gender isn’t important, but talent, skill, and creativity are. Architecture is tough and challenging and requires hours of dedication, hard work, practice, and coordination. Be flexible enough to accommodate and accept feedback.
The role of an architect is beyond design, it is about the safety of structures and how they enhance people's way of life. It’s often undervalued but nothing compares to seeing your vision turn into reality or recognising the contribution that your project brings to the built environment and to society.

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Women in Real Estate

"I have made it an integral part of my career to make a difference and contribute to the growth and success of Dubai." - Lynnette Sacchetto [Part Two]

Article-"I have made it an integral part of my career to make a difference and contribute to the growth and success of Dubai." - Lynnette Sacchetto [Part Two]

Lynette Sacchetto

Your work at Property Finder has been instrumental in bringing transparency to the UAE real estate market. How has this heightened access to data and research benefited the industry, and why is this important?

I am very privileged and proud to be part of the data transparency journey in the Dubai real estate market. I embarked on this journey about seven years ago when I started to make acquaintances with the Dubai Land Departments (DLD) and other government entities. Back then, the idea of sharing data was not common practice by both the private and public sectors, and I made it my mission to break that barrier.

I understood firsthand, from my work in the US, how important data and transparency is in the real estate sector and the massive positive impact that it could have, especially when it comes to foreign investment.

I worked with the various arms of the government, such as DLD and Smart Dubai, to introduce government data into the real estate sector.

Today, you can see the effects of this from initiatives such as Mo’asher, open data platforms and the private sector utilizing the open data to create B2B and B2C products. All of this benefits the real estate sector, from educating the consumer to enforcing confidence in the market, which draws in foreign direct investment.

women-real-estate-moasher.jpg

You are an expert in PropTech with over 15 years of experience in this field. What will the biggest trends in this space be over the next 1-3 years?

The PropTech market in Dubai has really expanded over the past few years with digitization at the forefront. We all want seamless experiences in our lives, which includes the real estate journey.

You will see digital activity in the property management space, in crowdfunding, and in traditional services such as mortgages. We will see products which help streamline and digitize the sales and rental process enter the market.

Also, pay close attention to blockchain technologies and the metaverse.

In the past 2 years, you’ve been named as Woman Leader of the Year in Technology and as the Top Ten Real Estate Consultants in the MENA Region. What is the value of awards that specifically recognize female achievements and what did it mean to you to win?

It was such an honor to receive these two esteemed awards, especially after being in the real estate industry here for over 15 years. As a female in male dominated industries, both tech and real estate, I have worked hard to earn respect among my colleagues and peers. To be recognized by them was very humbling.

These awards are hard to come by, especially for females in real estate industry here in Dubai. To be recognized as a leader and someone who has made a difference in our sector is something I am very proud of.

I absolutely love what I do and this beautiful city I call home. That’s why I have made it an integral part of my career to make a difference and contribute to the growth and success of Dubai. Awards like these validate I am on the right track.  

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What advice would you give to the next generation of female leaders?

You are the future and there are so many opportunities available to you. Dubai is a great place to grow as a female leader, especially in the real estate industry.

Over the years, I have seen female leaders rise and accomplish some amazing things and I am privileged to have worked alongside some of them.

We need to support each other, boost each other up and have each other’s back, this is important. Mentor young women, nurture them and help them grow.

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Qatar's top residential communities to live and invest in

Article-Qatar's top residential communities to live and invest in

the pearl doha

Qatar has evolved as a Middle Eastern powerhouse for trade, culture, and innovation. These make Qatar an appealing location for those wanting to invest in real estate, either for profit or to relocate to. So, in this article, we provide you with five of the most appealing residential communities to live and invest in within Qatar - in no specific order.

THE PEARL

The Pearl is a man-made island off the coast of Doha known for its high-end properties and luxurious services. It has seven different zones, each with a unique living experience. The Pearl offers a peaceful and luxurious lifestyle with many housing options. These include villas, apartments, penthouses, and townhouses. It also has many amenities, such as fine-dining restaurants, shopping centres, spas, and a beautiful marina. The island offers lovely views, beaches, and a variety of leisure activities. These all position The Pearl as a great place to experience Qatar at its best.

WEST BAY

West Bay is a prime real estate region in Doha with many upscale residential and commercial properties. The community has a broad selection of housing choices. These range from high-end apartments and villas as well as spacious townhouses. But, this is not to mention the vast range of amenities available too. West Bay is home to City Centre Mall Doha with many mainstream and high-end shops. West Bay also features the Qatar National Theatre and the 7km long Corniche Promenade. So, West Bay is the perfect place for those seeking a high-end lifestyle with both an amenity-rich and relaxing environment.

LUSAIL CITY

Lusail City, Qatar’s second largest city is along the coast North of Doha. The city is a vibrant location with a range of residential and commercial properties. There are many services and activities available in Lusail. These include the 18-hole Lusail Golf Course and the city’s entertainment area. Lusail also has a stunning Marina with a yacht club and promenade.

Also, Lusail City is a hub for innovation and technology. It is a smart city with advanced technology and communications infrastructure that supports artificial intelligence and internet of things systems. These systems help with energy management, resource conservation, traffic monitoring, and public safety. So with its modern infrastructure and world-class amenities, Lusail is a great location if you desire a luxurious, sustainable, and modern lifestyle.

AL KHOR

Al Khor is a small city in the North of Qatar with a stunning shoreline and many leisure choices. It's the perfect place if you like a relaxing yet vibrant atmosphere, with many accommodation options and lots of stores, restaurants, and entertainment venues. Whether you want to explore the beautiful scenery, learn about the culture, or try different activities, Al Khor has it all. It's a great destination for those who like variety, from waterfront relaxation to sightseeing.

AL WAKRAH

Al Wakrah is a coastal city located south of Doha with peaceful surroundings and traditional architecture. It's an excellent location if you desire a calming atmosphere with beautiful scenery. There are many housing options in the city, from coastal resorts to busy city centres. The city also has a range of amenities too. These include retail stores, restaurants, and entertainment venues. Al Wakrah appeals to everyone with its options for a relaxing lifestyle, vibrant nightlife, or a cultural experience.

OVERVIEW

Qatar is an ideal place to live or invest with a unique variety of innovation, tradition, and luxury. The nations thriving real estate industry has a variety of communities appealing to different lifestyles and interests. From the elegant island of The Pearl to the peaceful city of Al Wakrah, each community has a unique appeal. With world-class amenities, stunning landscapes, and a vibrant cultural heritage, Qatar has a promising future. It is no wonder that people from all over the world are seeking out Qatar as an ideal place to live and invest in.

 

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5 Key reasons to buy residential real estate in Egypt's NAC

Article-5 Key reasons to buy residential real estate in Egypt's NAC

Sea view cairo city

Egypt's New Administrative Capital (NAC) is a major investment in Egypt’s future. Located 45km to Cairo's East, the NAC is an appealing city that is turning into a major economic hub. Within a high-tech and smart city environment, the city provides a high quality of life with strong economic opportunities. So, with this attractive environment in mind, Egypt’s NAC provides a desirable living environment. In this article, we highlight five key factors that make the NAC a desirable place to live. They are all important aspects that make buying residential real estate in the NAC an exciting prospect.

EXCELLENT INFRASTRUCTURE NETWORK

The NAC is experiencing rapid growth with new projects in transportation, energy, and communications. This infrastructure growth makes the NAC attractive to investors and residents. But it is even more attractive to those who want a modern, well-connected city to live and work in. The NAC now contains major highways, airports, and railway stations. These all make travel easy for residents and visitors alike. Also, the NAC is home to a wide range of modern amenities, such as shopping malls, luxury hotels, and entertainment complexes. So, it is an ideal location for both business and leisure.

Aspects like strong public transport systems, effective delivery of utilities, and efficient proptech innovations help further enhance the clever infrastructure system in the NAC. So, the NAC provides the perfect environment if you are someone who lives to get from A to B in a stress-free and accessible way.

EXCITING ARTS AND CULTURAL SCENE

The NAC is becoming known for its vibrant arts scene. Many galleries, museums, and performance venues provide opportunities for cultural exploration. For example, towards the end of 2022, Magnom Properties formed a unique partnership with French contemporary artist Richard Orlinksi. The partnership involves showing Orlinksi's collection of colourful animal-inspired resin sculptures at Magmom Properties' first project in the NAC. This project along with others makes the NAC an attractive destination. But it's most attractive to those who crave a unique and culturally rich environment

INNOVATIVE SMART CITY

Artificial intelligence and the internet of things are creating a modern and innovative lifestyle in the NAC. Smart city technology like this creates an efficient, safe, and managed environment. This uses technology for good in an automated and less stressful living environment. So, a more desirable and sustainable lifestyle can occur. This is a lifestyle that’s becoming favourable amongst the younger generations. So, if you desire an innovative, sustainable, and efficient environment, then the NAC may be perfect for you!

GREEN INITIATIVES

The NAC is making great strides in promoting a more sustainable lifestyle. A range of green initiatives support this within the areas of energy, water, and waste management. These initiatives are boosting the city's attractiveness. But they are most attractive to the growing population of people who desire a sustainable and environmentally conscious place. Also, the NAC is home to many parks and recreational facilities. These provide residents with plenty of opportunities to enjoy the beauty of nature.

COMPELLING MEGAPROJECT

Construction started on the NAC in 2017. Then once complete the city will house around 6.5 to 7 million people. The city offers a smart and sustainable environment. It is also the largest of several new cities Egypt is developing. When combined these new cities are creating a new urban vision for 30 million people.

Yet, a sizeable area of the New Administrative Capital is already built. This not only includes the parliament, a presidential complex, and government departments. But it also includes hotels, schools, and a major commercial centre. A new airport also opened last year and strong public transportation systems are in place too. So, despite the impressive future, there is already a thriving environment in the city.

OVERVIEW: WHY CONSIDER THE NAC

Egypt's New Administrative Capital is an attractive city that's well worth considering for living or investment. The city is an appealing destination for those looking for a high quality of life and strong economic opportunities. With a focus on sustainable living, the NAC is a modern and efficient city that has lots to offer. So, the NAC is not only a city of the future but also a thriving environment. This should make the city a high contender for anyone looking for a new place to live or an exciting investment opportunity.

 

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Novotel Bahrain Al Dana: Innovating hospitality with crypto payments

Article-Novotel Bahrain Al Dana: Innovating hospitality with crypto payments

Manama sea view

The Novotel Bahrain Al Dana Resort in Manama will start accepting cryptocurrency payments. This comes as a result of the resort partnering with Eazy Financial Services. The agreement provides the hotel with electronic payment services. These will help improve its business operations and provide a better customer experience too.

DETAILS ON THE INNOVATIVE CRYPTOCURRENCY PARTNERSHIP

Equipped with high-tech terminals that accept a range of payment methods, the Novotel Bahrain Al Dana Resort is offering an innovative hospitality experience. Customers can use traditional Visa and MasterCard debit and credit cards. Equally, customers can use the latest payment method of cryptocurrency through the Binance app.

Accepting cryptocurrency payments is a forward-thinking move. A move that leverages the rising demand for cryptocurrency in Bahrain and the MENA region. So, using this technology can help the resort increase its attractiveness as a place to stay in Bahrain. This is because the technology offers an exciting customer experience with a secure and convenient payment method.

The Novotel Bahrain Al Dana Resort is the first hotel in Bahrain and the region to accept payments in cryptocurrency in a regulated, secure and speedy manner, approved by the Central Bank of Bahrain. This agreement is an important step forward for Bahrain’s hospitality industry. By implementing cryptocurrency, the Kingdom’s hospitality market can further innovate its offerings while strengthening its appeal to consumer demands.

HOW THE PARTNERS VIEW THE PARTNERSHIP

Amid Yazji, the General Manager of the Novotel Bahrain Al Dana Resort, expressed his excitement about the partnership. He mentioned how being the first hotel in Bahrain and the region to use this latest digital payment technology is a great opportunity. So, the partnership with Eazy Financial Services' EazyPay is nice. The hotel's commitment to providing the highest levels of service led to the adoption of this cutting-edge payment system.

Nayef Tawfiq Al Alawi, Founder, and CEO of Eazy Financial Services also expressed his pride in partnering with the Novotel Bahrain Al Dana Resort. This partnership is providing a competitive and innovative payment service. Through this, EazyPay has become the preferred and trusted provider of point-of-sale and online payment gateway services in Bahrain.

 

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Cultural sites to boost Bahrain tourism

Article-Cultural sites to boost Bahrain tourism

Manama aerial view

The Bahrain Authority for Culture and Antiquities (BACA) is creating a detailed list of archaeological, historical, and cultural sites. The plan is to use the sites as tourist attractions. This could then create significant indirect revenue for the government.

The government has considered charging entry fees for these places. Yet, this may deter schoolchildren and university students from visiting them. So it addressed this by launching projects aimed at people of all ages. These projects vary from the creation of local guides to the renovation of the Old Manama Suq.

BACA’S ROLE IN THE PROPOSED PROJECTS

Yet, there are concerns about the lack of ability to change or demolish properties.  The Cabinet also revised the 1995 Artefacts Protection Law. This gives the Cabinet power to safeguard properties. But it also allows them to classify areas of future projects as "sites of cultural importance".

BACA can create the value of any property. But it can also stop activity in any area, and delegate authority to special artefacts inspectors to choose the best course of action. BACA president Shaikh Khalifa bin Ahmed Al Khalifa also stated that some artefacts taken before were recovered. The creation of new categories for valuable items also occurred.

MEASURED THAT NEED ADDRESSING GOING FORWARD

But, with the increase in tourism, the actions taken on valuable deteriorating buildings must be decided. A Shura Council member voiced worry about the lack of collaboration. This already led to the destruction of a historic pearl merchant residence. So this issue needs addressing.

The need for a thorough preservation strategy is necessary for the effective preservation of these sites. As a result, the government is investigating measures to better conserve them. This ranges from thorough evaluation procedures to introducing strong restrictions and rules.

OPPORTUNITIES FOR TOURISM WITH ECONOMIC POTENTIAL

Finally, the introduction of this plan comes at a time when tourism to Bahrain is soaring in popularity. So, the government is capitalizing on this trend. It is doing so by prioritising the preservation of these cultural assets for tourism purposes in Bahrain. This can provide an economic advantage to the country. But beyond tourism, it also allows local people to preserve their cultural legacy. So, deliberate efforts should occur that guarantee the protection of these places. This way everybody can appreciate what these places offer.

 

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2027 Asian Cup: A positive move for Saudi real estate

Article-2027 Asian Cup: A positive move for Saudi real estate

King Fahd International Stadium

The news of Saudi Arabia hosting the 2027 Asian Cup is an exciting prospect. It will bring strong benefits to the Kingdom's real estate and construction industries.

The timing of the event is ideal with the Kingdom increasing investments in creating a strong entertainment sector. This is a key aspect of Saudi Arabia’s Vision 2030 plan to diversify the Kingdom’s economy.

Saudi Arabia's goal is to boost household spending in the sector from 2.9% to 6% by 2030. The upcoming Asian Football Confederation (AFC) tournament will play a strong role in achieving this target.

PLANS FOR THE 2027 ASIAN CUP IN SAUDI ARABIA

Saudi Arabia announced plans to renovate stadiums and construct three new facilities for the tournament. The capital city of Riyadh is set for major investments. In its bid book, Saudi Arabia intends to renovate the King Fahd International Stadium in Riyadh by 2025. The stadium's capacity will increase to 80,015 spectators.

The Kingdom also plans to renovate the Prince Faisal bin Fahd Stadium in Riyadh, increasing its capacity to 44,500 spectators. This renovation project not only involves removing the running track. But it also involves lowering the pitch, replacing two stands, and adding a new tier.

In the capital city, there are two new stadiums planned. The first, the 22,000-seat Riyadh Stadium will stand 700 meters from a metro station. The second stadium is the Qiddiya Sports Stadium. This stadium will have a capacity of 22,000 seats and is being built by the Qiddiya Investment Company. This stadium will open in 2023.

Also, there is a 40,000-seat stadium planned for Damman. Jeddah will then have two stadiums in the tournament. This is the 59,000-seat King Abdullah Sports City Stadium. Then the 27,000-seat Prince Abdullah al-Faisal Stadium. The latter is being renovated to meet the standards of the AFC Asian Cup tournament.

king abdullah sports city in jeddah

IMPACT OF THE ASIAN CUP ON SAUDI REAL ESTATE

The overall real estate market in Riyadh is already strong. Extensive government initiatives, rising investment, and a growing population are key factors here. Hosting the AFC Asian Cup will enhance this further not just in Riyash, but throughout the Kingdom.

The AFC Asian Cup will have a double effect on Saudi Arabia's real estate and construction market. In the long term, increased foot traffic from the event should boost the already strong retail and hospitality property markets. According to JLL, average annual rents for super-regional malls in Riyadh increased by 5% in Q3 2022 and stayed stable for regional malls. Meanwhile, rents for super-regional and regional malls in Jeddah rose by 3% and 2%, respectively.

OVERALL IMPLICATIONS

The 2027 Asian Cup in Saudi Arabia will offer attractive real estate opportunities. But it also brings long-term socioeconomic benefits too. So, hosting the tournament is a positive move for the country. Yet it also has wider benefits for the Middle East's effort to diversify their economies.

 

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