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Connected Real Estate in the Middle East
Source: Realcomm Advisory 8/9/2006 http://www.realcomm.com/
The Middle East is experiencing the most significant growth our industry has ever seen. This week we've invited Dave Clute with Cisco Systems to elaborate on what they are doing in the region and how "Connected Real Estate" solutions are being implemented in some of the most visionary projects of the century.
Connected Real Estate drives value by transforming the way real estate stakeholders - for example developers, landlords, tenants, and others - design, build, operate, and use real estate. In the workplace, Connected Real Estate produces more effective work environments that drive workforce productivity. In a building, Connected Real Estate harnesses and integrates the power of IP networks to enable the delivery of powerful services that provide revenue-generating opportunities, as well as improving safety and security by transforming how building operators and owners can protect their people and assets.
Connected Real Estate is predicated on three fundamental principles relating to real estate and network interactions:
creating a "building information network" or flexible and scalable network foundation as the facility's fourth utility
the convergence and integration of ICT and building systems onto a common IP network, reducing OpEx and CapEx while optimizing building management and operations
transformation of the physical environment -- delivering space differently, and introducing new ways of working. These three principles form the basis of the Connected Real Estate solution.
Together, and interacting in different combinations according to the various needs of developers, owners and occupiers, these principles are driving the next wave of transformation in the construction and use of real estate.
Here are just a few examples of Connected Real Estate projects that are of high visibility and importance in the Middle East:
Nakheel Real Estate - Nakheel Properties has already invested $12 billion in the real estate projects of Dubai. Headed by Sultan Ahmed Bin Sulayem, Nakheel Properties is developing The Palm, The World, International City, The Gardens, Ibn Batuta Shopping Malls, Jumeirah Islands, Jumeirah Lake Towers and Discovery Gardens. These projects are large and extraordinary in themselves that it requires fierce ambition and a drive to excel beyond typical projects.
In fact, Dubai is growing so fast in various sectors that it is experiencing a lack of housing projects for all its residents. Various developmental projects will be launched once the lack of housing projects is taken care of. This only shows the extent to which the real estate market in Dubai will remain buoyant. Government estimates forecast continuous growth for the next 8 to 10 years. The market is not expected to soften up till then after which it is expected to stabilize.
(Source: http://www.strategiy.com/nakheelpropertiesdubai.asp )
Emaar Properties - Established in 1997, Emaar Properties has set its sight on creating new architectural benchmarks for global property developers. Emaar Properties currently have ten major real estate projects under various stages of development. These developments include Dubai Marina, Arabian Ranches, Emirates Hills, The Meadows, The Springs, The Lakes, The Greens and Emaar Towers in downtown Dubai. Additionally, the company also owns the Gold and Diamond Park! It has also begun construction of Burj Dubai - the tallest tower in the world and The Dubai Mall, which is the largest shopping center in the world.
Burj Dubai, slated to be the world's tallest tower, will be a landmark not just in the region but in the world as well! Burj Dubai, the world's most prestigious address, will position Dubai among the leading cities of the world, driving tourists to the landmark architecture each year that will encompass residential, commercial, hotel, entertainment, and the world largest shopping mall.
Energy City Qatar - Under the Patronage of His Highness the Emir of the State of Qatar, Sheikh Hamad Bin Khalifa Al Thani. Energy City Qatar will be the Gulf's first energy business center catering exclusively to the commercial, technical and human resource needs of the oil and gas industry operating in the region, with state-of-the-art facilities and services, to the benefit of participants, the region, and the entire global energy spectrum.
Holding over 60% of the world's proven oil reserves, and over 40% of the world's natural gas reserves, the Middle East's long-term crucial position in fueling world growth is clear. Yet, thus far the region does not have a center for the management of above ground resources such as Singapore, Houston, Calgary, Stavanger and Aberdeen.
It is logical, and advantageous, that a hydrocarbon focused center should be located in the Gulf, a safe, secure, synergistic, state-of-the-art location for regional operations and global hydrocarbon development. The first phase of this project will consist of 93 buildings and 5M SF of space.
The Qatar Foundation - The project covers the Data Centre and Internet Edge of the main Qatar Foundation building as well as the new branch university campus for Carnegie Mellon University. Envisioned by the wife of the Emir of Qatar, the Education City of Qatar Foundation aims at creating a prototypical 21st century University and Research Campus and leveraging the synergy created by the close cooperation between these institutions. Qatar Foundation is one of the key initiatives in Qatar, supported and driven by the Qatar ruling family. QF has succeeded in attracting key US universities in Medicine, Engineering, business and arts. Main Universities present today in Education City include Cornell University Medical School, Texas A&M Engineering, Carnegie Mellon University, Virginia Commonwealth.
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