Archive for the ‘Transportation’ Category

Home Builder Emaar Properties PSJC Reports Loss

Saturday, February 14th, 2009

Emaar Properties PSJC, the Middle East’s largest home builder, Thursday posted a fourth-quarter net loss of 1.77 billion United Arab Emirates dirhams ($482 million) because of a U.S. write-down, and the company put new projects in Dubai on hold amid a property slump in the emirate.

Before the write-down, fourth-quarter net profit was 924 million dirhams, compared with a profit of 1.74 billion dirhams a year earlier, the company said in an emailed statement to Zawya Dow Jones.

Full-year profit dropped 54% to 3.06 billion dirhams from 6.58 billion dirhams a year earlier. Revenue declined 10% to 16.02 billion dirhams, Emaar said.

Emaar wrote down 1.77 billion dirhams in goodwill in its John Laing Homes unit amid the financial crisis, and a further 919 million dirhams in properties owned by the company during the quarter. Emaar, which is about 30%-owned by Dubai’s ruling Maktoum family, bought John Laing Homes, one of the largest home builders in the U.S., for $1.05 billion in 2006 in an effort to diversify its business from Middle East real estate.

Dubai Airports unveils Al Majlis facility

Sunday, July 6th, 2008

Dubai Airports on Tuesday launched a new VIP facility named ‘Al Majlis’ at the Dubai International Airport.

During the launching ceremony held at the facility, the new brand identity for the dedicated facility, as well as its wide range of upgraded services were also unveiled.

Located close to Dubai International’s Terminal 3, the nearly 3,400 square-metre new Al Majlis VIP facility will offer exclusive services for affluent travellers – both corporate and individuals, whether they are arriving, setting off or in transit, officials said.

“At Dubai Airports, we are constantly seeking to add value to our product offerings, and enhance the quality of customer service. The new Al Majlis VIP facility is a reflection of that very approach. A dedicated, state-of-the-art facility for Al Majlis means that we have the additional capacity and the latest in technology to enable us to serve our customers better,” said Paul Griffiths, CEO of Dubai Airports.

A Great Idea: Solar powered Sea Limousine for Dubai

Thursday, July 3rd, 2008

This idea is based on “The World” located in Dubai – a society with new needs of marine transportation between artificial islands. We are living in a world where artificial islands (were finished). Powered with solar cells integrated in the window skin and moves forward with hovercraft. This concept deliver a new dimension of discrete sea limousine in terms of luxury yacht design. Controlled by a satellite navigation system, therefore no human pilot, sea limousine seems to be the best mode of conveyance over the blue channels.

Idea & Design Development by Dennis Ingemansson

Page 1 of 2
1 2