Dh8 billion SRK Boulevard project revival on cards

August 6, 2014

SRK BoulevardAbu Dhabi, Aug 6: As the UAE’s real estate stages a strong rebound from historic lows after the global financial crisis, Bollywood superstar Shah Rukh Khan is seen to be an active player in the emirate’s fast-growing industry.

The legendary film star, entertainment mogul, sports magnate and the business-savvy actor is going to be back in the emirate’s property business with a bang by launching a Dh2.4 billion The Royal Estates by SRK project in Dubai today.

The superstar, also known as “King Khan” and owns Red Chillies Entertainment and the Kolkata Knight Riders, is also expected to be part of another landmark development in coming days by announcing a revival of seven-year old mega project in Ras Al Khaimah.

In an exclusive interview with Khaleej Times, Khan expressed his desire to revive Dh8 billion SRK Boulevard project “very soon”. The mega development was launched in 2007 but put on hold later in the wake of the global financial crisis. It was not the only development that was halted as several other projects across the UAE were also put on hold because of the financial crisis that badly hit the property business in Dubai.

“I’m not well versed with the real estate business. I did participate in a wonderful venture called SRK Boulevard and I hope I can restart the project soon,” Khan said.

Khan, who also owns a villa on Palm Jumeirah, didn’t rule out a property business venture in the future and said if there is an “exciting proposal” like SRK Boulevard, he might consider it positively.

“SRK Boulevard was really very exciting because I was designing the project and hopefully, maybe, we will be able to revive it again very soon,” Khan said. SRK Boulevard, comprising multiple residential towers on Dana Island off Ras Al Khaimah, was to house several hotels, a shopping centre and commercial complexes spread across 6.3 million sqm. King Khan, who was actively involved in from start to finish of SRK Boulevard, contributes extensively to the conceptualisation and design of the residential complex that bears his name and is expected to have a home in it.

According to industry sources, the project is likely to be re-launched under a new developer and its design concept is being currently reworked to add or remove certain components from the original plan.

Los Angeles-based architect Tony Ashai of Ashai Design Corporation, who was previously engaged to design SRK Boulevard, is now involved in The Real Estate by SRK to execute the Bollywood star’s dreams features in affordable housing project in Dubai’s booming market.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
March 11,2020

Riyadh, Mar 11: Energy titan Saudi Aramco said Tuesday it will boost crude oil supplies to 12.3 million barrels per day in April, flooding markets as it escalates a price war with Russia.

Riyadh had already slashed its price for April delivery after Russia refused its proposal that producer alliance OPEC+ orchestrate a co-ordinated cut of 1.5 million barrels per day.

The production cut had been mooted to shore up global oil prices, which have gone into meltdown as the deadly new coronavirus casts a pall over the world economy, but now price cuts and rising output indicate an unravelling of OPEC+ co-operation.

"Saudi Aramco announces that it will provide its customers with 12.3 million barrels per day of crude oil in April," the company said in a statement to the Saudi stock exchange.

Saudi Arabia, the world's biggest crude exporter has been pumping some 9.8 million bpd so its announcement on Tuesday means it will be adding at least 2.5 million bpd from April.

"The Company has agreed with its customers to provide them with such volumes starting 1 April 2020. The Company expects that this will have a positive, long-term financial effect," the statement said.

Saudi Arabia says it has an output capacity of 12 million bpd but it is not known for how long it can sustain such levels.

The kingdom also has millions of barrels of crude stored in strategic reserves to be used when needed and is expected to use it to provide the extra supply to the global market.

"Production above 12 million bpd shows the Saudis have something to prove," director of Britain-based RS Energy Bill Farren-Price said.

"This is a grab for market share. The taps are open and the prices have been cut sharply," Farren-Price told AFP.

In a quick response, Russian Energy Minister Alexander Novak said Moscow could boost production in the short term "by 200,00-300,000 bpd, with a potential of 500,000 bpd in the near future".

But he stressed that Moscow was in favour of extending a December agreement that had seen OPEC and Russia agree to cut production by 500,000 barrels per day in 2020, lowering output from October 2018 levels by 1.7 million barrels per day.

The events of recent days have signalled a disintegration of collaboration between OPEC and Russia.

Russia is a non-OPEC member and the world's second-biggest oil producer, but Moscow and other non-members have in recent years co-operated with the oil cartel in an arrangement known as OPEC+.

The Saudi price cuts over the weekend, which were the first salvo in the price war, sent oil prices crashing -- registering the single biggest one-day loss in three decades on Monday.

Saudi Arabia draws around 70 per cent of its revenues from oil, and the revenues are key to ambitious reform programmes launched by Crown Prince Mohammed bin Salman.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
Agencies
July 31,2020

Mount Arafat, July 30: Muslim pilgrims converged Thursday on Saudi Arabia's Mount Arafat for the climax of this year's hajj, the smallest in modern times and a sharp contrast to the massive crowds of previous years.

A tight security cordon has been erected all around the foot of the rocky hill outside Mecca, also known as Jabal al-Rahma or Mount of Mercy.

Pilgrims, donning masks and observing social distancing, were brought in buses from neighbouring Mina, state television showed, as Saudi authorities impose measures to prevent a coronavirus outbreak.

They were subject to temperature checks and attended a sermon -- which state media said was translated into 10 languages -- before they set off on the climb to the summit for hours of Koran recitals and prayers to atone for their sins.

The scene was strikingly different to last year's ritual when a sea of pilgrims ascended Mount Arafat, marshalled by tens of thousands of stewards in a bid to prevent any crushes.

After sunset prayers, pilgrims will make their way down Mount Arafat to Muzdalifah, another holy site where they will sleep under the stars to prepare for the final stage of hajj, the symbolic "stoning of the devil".

It takes place on Friday and also marks the beginning of Eid al-Adha, the festival of sacrifice.

The hajj, one of the five pillars of Islam and a must for able-bodied Muslims at least once in their lifetime, is usually one of the world's largest religious gatherings.

But only up to 10,000 people already residing in the kingdom will participate in this year's ritual, compared with 2019's gathering of some 2.5 million from around the world.

"You are not our guests but those of God, the custodian of the two holy mosques (Saudi Arabia's King Salman) and the nation," Hajj Minister Mohammad Benten said in a video released by the media ministry on Wednesday.

Security cordon

A security cordon has been thrown around the holy sites to prevent any security breaches, an interior ministry spokesman said.

Riyadh faced strong criticism in 2015 when some 2,300 worshippers were killed in the deadliest stampede in the gathering's history.

But this year, those risks are greatly reduced by the much smaller crowd.

The pilgrims have all been tested for the virus, and foreign journalists were barred from this year's hajj, usually a huge global media event.

As part of the rites completed over five days in the holy city of Mecca and its surroundings, the pilgrims converged on Mount Arafat after spending the night in Mina.

A district of Mecca, Mina sits in a narrow valley surrounded by rocky mountains, and is transformed each year into a vast encampment for pilgrims.

They began the hajj on Wednesday with their first "tawaf", the circumambulation of the Kaaba, a large structure in Mecca’s Grand Mosque towards which Muslims around the world pray.

The Kaaba is draped in a black cloth embroidered in gold with Koranic verses and known as the kiswa, which is changed each year during the pilgrimage.

Pilgrims were brought inside the mosque in small batches, walking along paths marked on the floor, in sharp contrast to the normal sea of humanity that swirls around the Kaaba during hajj.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
KT
April 10,2020

Apr 10: The UAE reported 331 new coronavirus cases - through extensive testing - and two deaths late Thursday night.

The UAE conducted over 40,000 coronavirus tests over the past two days across various segments of society, including citizens and residents, using latest state-of-the-art-technology in line with the Ministry of Health and Prevention's plans to intensify Covid-19 screenings to contain the spread of the virus.

The Ministry also revealed that two patients suffering from Covid-19, an Asian national and an Arab, had died due to complications caused by the virus. Both of the deceased had prior chronic illnesses. The total number of deaths has now reached 14.

UAE announced on Thursday that places of worship will be closed in the country until further notice - amid the coronavirus situation. Authorities decided to extend the closure of mosques, churches and other places of worship in the UAE until further notice for the safety of community members, Wam reported. The measure has been taken to prevent the spread of Covid-19 in the country.

The decision was taken in coordination with the National Authority for Emergency and Disaster Management, the General Authority for Islamic Affairs and Endowments, federal, local religious bodies and health authorities in the state.

Residents face deportation for breaking rules

People who repeatedly flout 'stay at home' measures and endanger others' lives are inviting harsh punishments including deportation, a senior police officer has said.

"The UAE's Attorney-General has already announced the fines and punishments for breaking rules on social distancing and curfew restrictions. Repeated offenders or those who commit crimes that have a 'snowball' effect on the society will be fined, jailed and deported at the end of their term," said Col Saeed Al Hajeri, head of the Cyber Crime Department at Dubai Police, in an exclusive interview with Khaleej Times.

Al Hajeri said the Dubai police are tightening the noose against violators by resorting to 'naming and shaming' them.

The officer said 'reckless residents' will face serious consequences as they are not allowing the government to serve the people.i.  

Movement permit not to be misused

The officer said residents should not misuse the movement permit introduced by the Dubai Police and those who go out without a permit will be fined on their Emirates ID. Al Hajeri said they expect residents to be highly responsible. "Those who are exempted from taking movement permit can use the company letter to go to work but not for other purposes. You cannot fool the system by obtaining a permit for buying medicine and then going out to visit your sister or brother."

Social media as a double-edged sword

Warning people against circulating rumours and videos mocking authorities, the he said people should instead use the time to be productive or creative.

"We encourage people to use this time to learn new skills and not create scams and endanger the society. This is a difficult time and it will pass. What is more important is what you gain out of this."

Col Al Hajeri said the Dubai Police are aware that many people are using social media as a positive tool and encourage them. "We encourage that, and want people to use social media for positive messaging, to spread awareness about personal hygiene, social distancing and various precautions to be followed."

13 new drive-through coronavirus test centres open across UAE

Thirteen new drive-through testing facilities for Covid-19 have been opened across the UAE over the recent days. The Abu Dhabi Media Office on Thursday reported that under the directives of His Highness Sheikkh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, 13 additional Covid-19 drive-through testing facilities were opened in 10 days, in addition to the centre previously opened in Zayed Sports City in AbuDhabi.

According to authorities, more than 12,000 people have been tested since the centres opened .

The examination process begins by booking an appointment in advance by calling the 8001717 Estijaba centre, or through the SEHA smart application, for an initial assessment.

Priority will be given to those with symptoms, senior citizens, pregnant women and those who suffer from chronic diseases.

Precautionary examinations costs Dh370, and payment will be done electronically through the SEHA application.
 
50,000 workers to be screened in a month

A massive initiative has been launched by healthcare provider Right Health and Al Futtaim Health's HealthHub to screen 50,000 workers for Covid-19 within a month.

Out of the 58 facilities across the UAE, 33 primary health centres of the Right Health are located at the workers' accommodation areas in Jebel Ali, Sonapur and Al Qouz.

"We will be working with businesses across the UAE to ensure their workforces stay safe and healthy. It is essential that private healthcare providers do everything they can to support the government's efforts to combat the Covid-19 pandemic. The objective of this campaign is to screen as many people as possible.

Crime falls by 96% in Sharjah

A massive drop in crimes has been observed in Sharjah after the implementation of Covid-19 precautionary measures. The crime rate has declined by 96 per cent, according to the Sharjah Police. Only 48 cases were reported in the emirate during this period compared to 717 cases registered last year.

Dispose of masks, gloves safely, say police

Motorists caught throwing face masks and gloves out of their vehicle windows will be fined Dh1,000 and six black points will be registered against their driving licences, the police have warned. The Abu Dhabi Police on Thursday said some people have been throwing used masks and gloves out of the car windows, violating traffic laws. "The masks and gloves pose a threat to public health and the environment. They may have been contaminated and lead to the spread of diseases," the police said in a statement. The police also noted that adhering to precautionary measures that prevent the spread of communicable diseases is everyone's responsibility.

Medical experts explain UAE's high Covid-19 recovery and low death rates

Compared to global rates of Covid-19, the UAE has been showing very high recovery and very low death rates.

According to statistics made available on the World O Meter, the Covid-19 death rate in the UAE is only 0.5 per cent of the total 2,659 infected.
Khaleej Times reached out to UAE doctors and medical experts who have attributed this phenomenon to the UAE's high healthcare standards, the country's predominant younger population, and residents' compliance to the Stay at Home guidelines.

'UAE age structure plays a role'

However, Dr Standford said: "Although death occurs at all ages, there is a predominance of the elderly. The age structure in the UAE is completely different from most countries outside the GCC as there is a predominance of young expatriates here under work permits.
He added: "Most (expatriates) will leave the country by the age of 60. There is therefore only 1.5 per cent of residents aged 65 or more. Compare this with a country like the UK where the equivalent number is 18.2 per cent."

Early intervention

Dr Jacob Cherian, specialist internal medicine, Medcare Medical Centre Marina and medical director for Medcare Medical Centres, attributed early intervention and intensive testing as one of the main reasons for the UAE's faster recovery rates.

"Compared to other countries, the UAE adopted early intervention measures. The UAE closed schools and limited social gatherings when there were hardly any cases," he said. Compliance from residents and a relatively younger and healthier population are other reasons for the lower death rates and high recovery rates, according to Dr Jacob.

Pakistan extends suspension flight operations till April 21

The Pakistan government has extended the suspension of domestic and international flight operations in the country until April 21 in a bid to contain the coronavirus spread, said a notification issued by the Civil Aviation Authority (CAA).

In its last notification, the CAA had said that diplomatic, special/cargo flights and flights of national carrier to/from Pakistan holding special approval from the competent authority for transporting stranded passengers would be exempted from the ban.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.