UAE companies are heading to Eastern Europe for investment opportunities.
Limitless, which is part of Dubai World, yesterday announced it had started building and selling apartments and townhouses in Moscow, while Al Habtoor Group,a UAE family conglomerate, is studying opportunities in Belarus.
The Limitless project, which is a joint venture with RDI Group, a property company based in Moscow, is in the first phase of the development, which includes 700 apartments and 46 townhouses.
"Russia has been a strategic market for us for some time," said Ian Raine, the head of operations at Limitless. "We formed a partnership with the Russian developer about four years ago to develop an area to the north of Moscow… We went through the process of the master planning and preparing the designs and so on, but we decided to hold the release of the project until such time as the market had recovered to a level where it was realistic to go forward with it, and that time seems to be now."
The project was attracting interest locally, Mr Raine said.
"You've got quite a significant population in the Moscow area and people are looking for better standards of living," he said.
Mr Raine declined to provide figures on the value of the project and the prices of the homes.
The development, 24 kilometres north-west of Moscow, is expected eventually to cover 111 hectares and accommodate 14,000 residents. Al Habtoor Group, which has interests in the construction, hotel, and car sectors, yesterday said it was planning to study development opportunities in Minsk, the capital of Belarus.
The company was specifically interested in infrastructure projects and intended to send a team of experts from Al Habtoor to study the viability of such projects, it said.
This decision followed discussions with the ambassador of Belarus about business opportunities in his country.
Air links between the UAE and the Commonwealth of Independent States have increased substantially in the past year.
rbundhun@thenational.ae
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Company%20Profile
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In-demand jobs and monthly salaries
- Technology expert in robotics and automation: Dh20,000 to Dh40,000
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- Field engineer: Dh6,500 to Dh7,500
- Field supervisor: Dh9,000 to Dh12,000
- Field operator: Dh5,000 to Dh7,000
Company%20Profile
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COMPANY%20PROFILE%20
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Company profile
Company name: Suraasa
Started: 2018
Founders: Rishabh Khanna, Ankit Khanna and Sahil Makker
Based: India, UAE and the UK
Industry: EdTech
Initial investment: More than $200,000 in seed funding
Muguruza's singles career in stats
WTA titles 3
Prize money US$11,128,219 (Dh40,873,133.82)
Wins / losses 293 / 149
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Company%20Profile
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THREE
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THREE POSSIBLE REPLACEMENTS
Khalfan Mubarak
The Al Jazira playmaker has for some time been tipped for stardom within UAE football, with Quique Sanchez Flores, his former manager at Al Ahli, once labelling him a “genius”. He was only 17. Now 23, Mubarak has developed into a crafty supplier of chances, evidenced by his seven assists in six league matches this season. Still to display his class at international level, though.
Rayan Yaslam
The Al Ain attacking midfielder has become a regular starter for his club in the past 15 months. Yaslam, 23, is a tidy and intelligent player, technically proficient with an eye for opening up defences. Developed while alongside Abdulrahman in the Al Ain first-team and has progressed well since manager Zoran Mamic’s arrival. However, made his UAE debut only last December.
Ismail Matar
The Al Wahda forward is revered by teammates and a key contributor to the squad. At 35, his best days are behind him, but Matar is incredibly experienced and an example to his colleagues. His ability to cope with tournament football is a concern, though, despite Matar beginning the season well. Not a like-for-like replacement, although the system could be adjusted to suit.
COMPANY PROFILE
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Total funding: Self funded
THE%20SPECS
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The specs
Engine: Long-range single or dual motor with 200kW or 400kW battery
Transmission: Single-speed automatic
Max touring range: 620km / 590km
Price: From Dh250,000 (estimated)