Cityscape Dubai is now the largest property exhibition of its kind in the world. CEO Middle East previews the best in class and discovers why you should pay it a visit and invest in one of the fastest growing regional sectors
ArabianBusiness.com staff writer , Thursday, 30 November 2006, ArabianBusiness/Features
Tejoori Limited, the investment company headquartered in Dubai and listed on the Alternative Investment Market in London, has closed its musharaka agreement with Omniyat Properties Eleven
ArabianBusiness.com staff writer , Thursday, 01 February 2007, ArabianBusiness/News
Emirates Belbadi Contracting collects the US $54 million construction contract
Angela Giuffrida, Saturday, 03 February 2007, ArabianBusiness/News
Emirates Trading Agency (ETA) Mechanical & Electrical Division is to complete the MEP installation at One Business Bay.
ArabianBusiness.com staff writer , Thursday, 01 March 2007, ArabianBusiness/News
Omniyat Properties is to build a $266.7m development in the emirate's Business Bay district.
Dylan Bowman, Wednesday, 23 May 2007, ArabianBusiness/News
Business Bay development is set to make its mark on the Dubai skyline.
Lynne Roberts, Monday, 28 May 2007, ArabianBusiness/News
The fusion of technology and architecture promises a new world of lifestyle options which will surely change the way we live and communicate.
ArabianBusiness.com staff writer , Monday, 04 June 2007, ArabianBusiness/Interviews
Omniyat Properties' bold bid to create the 'smartest' buildings in the Middle East.
Arabian Business reports on Dubai's astonishing real estate story, and asks whether the sector's record growth can continue in the long term.
ArabianBusiness.com staff writer , Sunday, 29 July 2007, ArabianBusiness/Features
Three leading banks launch escrow accounts following amendments to Dubai's property law.
Chief executive claims demand for homes and offices in Dubai will continue well into the next decade.
Talal Malik, Thursday, 09 August 2007, ArabianBusiness/News
Omniyat Properties, the UAE's leading futuristic real estate and property developer and a member of Omniyat Holdings, recently launched a new Dubai Summer Surprises buyer incentive raffle for those who invest in any of its publicly launched projects during summer, which potentially could reach US$4.35m (AED16m).
ArabianBusiness.com staff writer , Friday, 17 August 2007, ArabianBusiness/News
Tender decisions set to be made for contracting work on The Pad.
Omniyat Holdings CEO Mehdi Amjad has dismissed recent speculation regarding the bursting of the Dubai real estate ‘bubble'.
ArabianBusiness.com staff writer , Tuesday, 11 September 2007, ArabianBusiness/News
Omniyat Properties has awarded China State Construction Engineering Corporation the main contract for its US $92 million (AED345 million) 25-storey commercial tower, Bayswater, in Business Bay.
ArabianBusiness.com staff writer , Saturday, 15 September 2007, ArabianBusiness/News
The Pad will feature a range of intelligent technologies.
Adam Dawson, Monday, 01 October 2007, ArabianBusiness/News
Omniyat Properties has entered the first phase of main construction on The Binary project in Dubai's Business Bay District.
ArabianBusiness.com staff writer , Tuesday, 02 October 2007, ArabianBusiness/News
Omniyat Properties has awarded the main construction package for its US $150 million (AED550 million) Binary project to Dutco Balfour Beatty Group, and construction has now entered its first phase.
ArabianBusiness.com staff writer , Saturday, 06 October 2007, ArabianBusiness/News
Dubai-based property firm announces office complex and mixed-use developments for emirate.
It is already the biggest real estate show in the world, and this year's exhibition got even bigger.
ArabianBusiness.com staff writer , Thursday, 18 October 2007, ArabianBusiness/Features
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Comments 1-9 of 9
Posted by Hussam, Dubai on 8 April 2009 at 14:28 UAE time
I agree fully with the comments of Zayed. Why would two senior executives with an excellent professional track record leave at the same time. Not only Alex and Peter, but other professional executives who have worked at Omniyat have left as well. This company must have one of the highest turnover of managers! The fact that good people leave must raise questions. If the company can't manage it's people, how can it manage its multi-billion project and investors money. And as for the comments of Chris and Mohammed Salawy, I agree. Maybe both these men had a conscience and didnt like the company's style of forcing people to move into projects other than the ones they have bought simply so that it can sell the remaining inventory in projects which have a low number of unsold units, and cancel projects which have a high number of unsold units! And of course these investors have no choice but to agree to the high prices dictated to them in the building to which they are being transferred. Otherwise, their option is either 1) to continue paying in a project that is hardly making any progress, and that they bought at an expensive price. And unfortunately most of them signed contracts that allow the developers, like Omniyat, to miss the completion date without penalty! Or the other option 2) is to default and lose 30% of what they paid. No wonder professionals like Alex and Peter don't want to stay...
Posted by paul, Dubai, UAE on 8 April 2009 at 13:08 UAE time
If I'd hired senior executives who had ploughed full on in 'expansion mode' without warning me that the company should take a more conservative approach, I'd be disappointed with their expertise. While they might have instructions to 'expand', I would expect them to voice concerns if they felt they risks were too high and that the booming business conditions could not continue. So we must assume they were simply fair-weather sailors, not seeing the storm that was coming and not being able to steer around it once it arrived.
Making money in a boom is easy. Any old fool can do it - look at the banks in the UK and US! Making money in a recession is where talent really shines. Seeing that pretty much every property company is falling on its face, it seems real talent is very thin on the ground here.
Posted by Mohamed Salawy, Dubai, UAE on 7 April 2009 at 22:26 UAE time
It seems that Real Estate and Marketing does mix well in this country.
The industry is driven by greed, egos and fake pride, it seems like the basic understanding for Marketing, supply & demand and even pricing strategies is not commonly understood.
Hope they will learn from their mistakes and won't use the economic crisis as an excuse.
Alex, you took the right decision, all the best and good luck.
Posted by Zayed, Dubai, UAE on 7 April 2009 at 22:14 UAE time
First and foremost, if news like this is harmful to Dubai's image...then we have bigger problems to worry about. As for the CEO and MD leaving the company at the same time...now that is a question I am interested in knowing the answer to! Can Arabian Business.com get answers from these two gentleman as to why they left? Why did they leave at the same time? Is this an indicator of what to expect from this company?
Posted by Mohammed, Dubai, UAE on 7 April 2009 at 21:15 UAE time
Having had the chance to work with Alex in one of his previous roles, it is true to say that he is a hard Australian, straight shooting and as the story says, "it was not working for him".
Bad luck Omniyat, and we wait to see what's next!
Posted by Chris, Dubai, UAE on 7 April 2009 at 18:45 UAE time
Perhaps the former CEO of this company had a conscience as perhaps he felt that some projects may not be finished and he did not want to continue to take money undre false pretences.
One wonders if this man will again decide that another international beverage company could save his career and keep him away from realestate.
Posted by Bader, Saudi Arabia on 7 April 2009 at 16:05 UAE time
Alex proves that he is a great Marketing and PR person every time and knows how to create a great positive environment around him every time he decides to change jobs.
Very Good Luck Dear Alex and Hard Luck Omniyat
Posted by Minaka on 7 April 2009 at 15:28 UAE time
Whether harmful or not, news is news.....there's no point in hiding it to save the image of Dubai...
Posted by Camil El Khoury, Dubai, UAE on 7 April 2009 at 14:04 UAE time
News articles like this are harmful for Dubai's image, as much as i appreciate Arabianbusiness for bringing news on the market really fast, i would like to see some comprehensive packages that will bring back the Dubai Confidence, there is still a lot of opportunities so lets collectively focus on what we could do to save our community and pioneer the quick come back