At the first meeting of the newly formed Board of Dubai Chambers, chairpersons and board members discussed long-term goals and strategies to boost the contributions of Dubai Chambers to the digital economy, business community and overall economic growth.

The meeting was held at the Dubai Chambers headquarters, and was headed by Abdulaziz Al Ghurair, Chairman of Dubai Chambers. Members identified several priority projects to improve Dubai’s economic competitiveness globally.  

On the business side, Dubai Chambers aims to promote trade with 30 priority markets, draw over 50 new large multinational companies to the emirate, grow Dubai’s startup ecosystem to 300 startups, and empower business groups. It also aims to put relevant regulation and policy recommendations in place, implement a 100% paperless model, and integrate value-added revenue services and optimised cost structures through a new business model.

TAKING A THREE-WAY APPROACH AT DUBAI CHAMBERS

During the meeting, the group discussed the role of the newly instituted Dubai Chamber of Commerce, Dubai Chamber of International Trade and Dubai Chamber of Digital Economy. 

The three sub-associations of Dubai Chambers were established under directives by Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President and Prime Minister, and Ruler of Dubai, that were announced in March this year.

The three chambers would play a significant role in driving economic development and enable the emirate to reach USD 2 trillion in foreign trade by 2026. 

This would involve accessing emerging sectors and high-potential business opportunities, while also working towards bringing foreign capital into Dubai, and building cross-border partnerships as well.

Dubai Chambers would work with public and private stakeholders to create a favourable business environment, new trade and investment opportunities, and sustainable economic growth, while attracting top talent and businesses, Al Ghurair added. 

Meanwhile, the Dubai Chamber of International Trade will aim to build networks across 30 international markets through promotional projects.

BUILDING A DIGITAL ECONOMY

The Dubai Chamber of Digital Economy will focus on building world-class digital economy infrastructure, promoting Dubai as an international technology hub. It will also be providing legislative support to encourage the growth of the digital economy.

“The transition to a three-Chamber model is a paradigm shift for business in Dubai, which will strengthen the emirate’s position as a digitally driven economy and global business hub,” Al Ghurair said. “The new structure enables the various chambers to adopt a more specialised and effective approach toward achieving the strategic ambitions outlined by HH Sheikh Mohammed for Dubai’s future-ready economy.”

 

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COVID-19 has had a significant impact on architecture firms in the UK, according to the findings of the recently concluded AJ100 survey.

Overall, of the 101 ranked architecture firms in the UK, 98 had undergone furloughs, 59 had made pay cuts, and 56 had to undertake redundancies due to COVID-19. 

Moreover, the number of architects employed by firms ranked in the survey dropped to a five-year low, falling to 6,777 architects as compared to 7,001 architects in the previous year.

Aggregate fee income from architectural practices also dropped by 8.5%, and fees per architect fell to 8%. In terms of sectors, higher education, aviation and hospitality/leisure were badly hit. However, healthcare and school projects were sectors that saw some growth.

Architecture firms in the UK noted that COVID-19 had also affected studio culture and collaboration, as well as opportunities to network and be mentored. However, remote or hybrid working arrangements were well received amongst the respondents.

SUSTAINABILITY ANOTHER KEY TREND AMONG ARCHITECTURE FIRMS IN THE UK

This year’s AJ100 saw great gains in the field of sustainability for architecture firms in the UK.

The number of ranked architecture firms in the UK measuring whole-life carbon rose from 15% to 22%, whereas the proportion of those who did not dropped significantly, from 41% to 21%. The number of practices that never measure embodied carbon also fell to 18%, from 35% previously.

In terms of operational emissions, the proportion of architecture firms in the UK who never measure these reduced from 34 to 24%, with three quarters of ranked firms now measuring operational emissions.

Further, a majority of surveyed architecture firms in the UK claimed to have a specific approach to sustainability in their built projects, had a sustainability team in place, offered sustainability training, and measured their own carbon footprint.

FOSTER + PARTNERS IS UK'S LARGEST EMPLOYER FOR 10TH YEAR RUNNING

Retaining the top spot for the 10th consecutive year, Foster + Partners was ranked the largest employer of architects amongst architecture firms in the UK. The firm employs 383 architects in the UK.

Foster + Partners was followed by BDP with 353 architects, and Zaha Hadid Architects with 302 architects. Foster + Partners and Zaha Hadid Architects also dominated overseas architectural earnings, accounting for two-thirds of the total fees from overseas projects.

Further, Foster + Partners showed the greatest expansion by absolute employee numbers, adding 91 employees. It was followed by Zaha Hadid Architects, with 47 employees. 

On the other hand, BDP had the greatest absolute contraction, having reduced its staff headcount by 75.

 

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Data centres are notorious energy guzzlers: just this last week Ireland announced it might face rolling blackouts from the strain data centres are putting on its electricity grid. Amazon, Facebook, Google, Microsoft — they’ve all left significant footprints in Ireland. It’s one of Europe’s hubs after all, home to 70 operational data centres — ten of which went live in the last year alone — and eight more under construction.

Data centres often run larger than aircraft carriers, row upon row of circuit boards stretching down nondescript, windowless halls — some so long you need scooters to get across. Collectively, data centres use some 200 terawatt-hours each year — that’s about one per cent of the world’s electricity usage, and more than the national energy consumption of some countries. And though they don’t exactly spew out smoke, their carbon emissions equal that of the commercial aviation industry.

But we need data centres: they’re the central nervous system propping up the Internet, the brains behind every click, every tap, every swipe. And after the outbreak of the COVID-19 pandemic, after the pervasion of remote learning, work-from-home policies, lockdowns and shutdowns, we need even more of them than before.

That’s how data centres, along with logistics, emerged the big winners after the pandemic — and why investors have come to favour data centres as an asset class. Fortunately, decarbonising data centres is a lot easier than decarbonising the aviation industry: power them with clean electricity, push energy efficiency through policy, and design for clean cooling.

DATA COOLING TURNS GREEN

Cooling is about half the data centre’s total energy use. China last month announced it would take to the sea to reduce the energy consumed by power-hungry data centres, that it would build the first undersea commercial data centre within the next five years. Two Singapore-based universities have set up a USD 17.39 million research fund to develop sustainable cooling technologies for data centres operating in tropical locations. Singapore, incidentally, is the second-most popular market for data centres — the first being the US.

But sustainable cooling techniques are not new. Facebook has its largest data centre by the Arctic Circle — it leverages the icy Nordic air alongside traditional water-cooling techniques. A Google data centre in Finland uses recycled seawater to save on the energy needed to cool its servers. Norwegian company Green Mountain has its data centre built into a mountain, and uses the nearby fjord for cooling — which is why it’s known as the ‘greenest’ data centre in the world.

Clean cooling doesn’t always have to be about location. Last month Moro Hub, a subsidiary of the Dubai Electricity and Water Authority (DEWA), signed an agreement with Huawei to build a hyperscale data centre powered entirely by renewable energy. This new carbon-neutral, solar-powered data centre will be the largest in the Middle East and Africa (MEA) region.

GREEN DATA: A GROWING MARKET

Green data centres are cropping up everywhere. And although they translate into significant long-term savings, they require far more initial capital to build than do regular data centres. So as the market for sustainable data centres grows, so grow the opportunities to invest in them.

In fact, the green data centre market is expected to grow to USD 140.3 billion by 2026 — a 19.1 per cent growth rate. Sustainable data centres are expected to particularly gain traction in new and emerging markets for data centres, such as China, Indonesia and India.

Facebook, Google, Apple, Amazon and Microsoft all have a ‘green’ deadline: they have pledged to use only renewable energy and reach net-zero emissions within the next two decades. It’s these hyperscale players that are driving the evolution of power-hungry data centres into more sustainable versions of themselves.

_{Photo credit: www.techerati.com/features-hub/opinions/2021-the-year-of-the-sustainable-data-centre/}

 

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With an urban plan that encompasses creating larger green spaces and inclusive communities that enriches culture, the Dubai Vision 2040 aims to bring a positive paradigm shift to the UAE’s real estate industry.

GREEN SPACES AS A KEY DRIVER TO RESIDENTIAL PROPERTY VALUES

Dubai’s continuous emphasis on creating innovative development plans has always placed the emirate at the forefront of its contemporaries. The Dubai 2040 Urban Master Plan is yet another assertion to the government’s vision to reinforce Dubai as the major investment hub in the region.

With an emphasis on building sustainable communities, the 2040 Urban Master plan visualises an emirate that promotes an improved quality of life. As people grow more conscious about the need to have green spaces and healthy living, the master plan envisions communities built around efficient, innovative and holistic living experience for residents. The new vision is bound to change the concept of Dubai as a concrete jungle and rather a more sustainable and still dynamic city that will enhance its resident’s way of living.

As the emirate moves into a more sustainable global hub, the residential real estate industry grows with it. Green spaces and an enhanced living experience in the emirates are envisioned to encourage demand and drive residential property values positively. With these new developments and still preserving the prevailing urban areas, Dubai’s property market is set to offer unique environment-friendly prospects to present and future investors alike.

INVESTING IN TOURISM AND HOSPITALITY TO SUPPORT FUTURE BUSINESS NEEDS

The Vision 2040 Urban Master Plan recognises the importance of fostering greater economic activity and drawing foreign direct investment. As such, a key part of the 2040 master plan is to invest in tourism and hospitality to attract investors and support future business needs. Under the new plan, the land area used for hotels and tourist activities will increase by 134 per cent. The land used for commercial activities, like shops and restaurants, will also grow to up to 168 square kilometres on top of the existing land area.

This focused approach will ensure that the existing and planned new developments will be executed efficiently to increase overall occupancy levels and return-on-investment (ROI) for all stakeholders.

In conjunction, we can also anticipate a range of other initiatives to help support investment and growth in prime sectors such as tourism and hospitality. Along with enhancing infrastructure to serve an increase in demand, the government is also set to integrate new technologies such as AI to support future business needs. Sustainable developments are expected to create exciting opportunities for new companies and business models.

BRINGING INTO SPOTLIGHT THE OLDER AREAS OF THE CITY

Most prime cities around the world have adopted an urban development framework that embraces its pockets of cultural heritage and grows it alongside its modern development. With a focus on regenerating older areas with new developments, communities of historic and cultural importance are nurtured and transformed into holistic places.

This new initiative will help make older areas such as Bur Dubai and Deira attractive and great places to live in. With the right balance of infrastructure and amenities targeted towards Emiratis, the local population will help retain and celebrate the rich cultural legacy that Dubai has.

UTILISING EXISTING SUPPLY EFFICIENTLY

While the government is looking forward to developing new communities, existing ones will not be left to wither. The government is envisioning about a 76 per cent increase in population between this year and when the plan comes into fruition. Meaning, there must be some change or improvement to accommodate this population growth.

The stability struck between preserving existing urban areas and supporting new sustainable developments through infrastructure and planning reforms will positively affect Dubai’s property market. The existing supply must be used well to ease the supply and demand in the market. Therefore, the development plan must consider this and need not be restrictive. It must also be executed well so that both the current and new stock is absorbed well.

Learning from the pandemic, the real estate industry must ensure that development plans are well planned and built to suit the newer generation. Amid the pandemic last year, Dubai has established a high-level committee to bring balance in the supply and demand while the Central Bank of the UAE discussed with local lenders to allow a flexible cap on real estate financing. Policies that revolve around crises like these will be key determiners as the industry balances the supply of existing and projected stock.

THE FUTURE LOOKS GREEN AND BRIGHT

Out of all the plans in Vision 2040, the most exciting prospect for the real estate industry are the green innovations that will lead to a more sustainable Dubai. At the core of Vision 2040 is the desire of the government to enhance its residents’ comfort and quality of life. In doing so, all the economic growth will soon follow.

Dubai has successfully transformed itself from a humble country into a major finance and investment hub, not just in the region but in the world. Part of its success is the government’s inclusive development plan: investing in infrastructure advancement whilst ensuring the quality of life grows alongside its urbanization.

With Vision 2040, the environment and the people who live in the emirates are the focus of this new development plan. Innovation will centre on enhancing the quality of life and sustainable development.

Green spaces and recreational areas will be developed and are expected to double in size. Nature reserves and rural areas are forecasted to constitute more than 60 per cent of the emirate’s total land area. Several green corridors will be established to link service, residential and commercial areas. Pedestrian movement, bicycle lanes and other kinds of sustainable mobility will be promoted and public beaches will increase by 400 per cent.

The plan also involves developing sustainable communities that blend leading technologies with green spaces that will both meet the needs and improve individual well-being of residents. By enhancing the quality of life for its residents and investors, Dubai envisions a future that is inclusive, green and bright.

 

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