Sharjah Announces New Sports City Development

Sharjah has revealed plans for a new Sports City, approved by Dr. Sheikh Sultan bin Muhammad Al Qasimi, Supreme Council Member and Ruler of Sharjah. The development will feature four sports complexes designed for both team and individual sports.

Ali bin Shaheen Al Suwaidi, Head of the Sharjah Department of Public Works (SDPW), shared the news during an interview on the “Direct Line” programme. The Ruler of Sharjah personally sketched the city’s design, which includes a central square with four main roads leading to it:

The road from Al Madam
The road to Al Badayer
The road leading to Mahafiz and Al Bataeh
The road from Sharjah Sports City
At the heart of the square will be the “Sports City Stadium,” which is the first phase of the project. The stadium’s design, inspired by a bird soaring over sand dunes, features a platform and grandstand resembling the surrounding dunes. The structure is topped with a large cover shaped like outstretched wings, which changes color from silver in the morning to a golden-red hue at night.

The environmentally conscious design reflects the natural characteristics of the site and embodies the attributes of an athlete, similar to a falcon’s speed, strength, and keen eyesight. The stadium will be equipped to host local, regional, and global events.

Al Suwaidi confirmed that following the directives of the Ruler of Sharjah, the detailed designs for the Sports City Stadium will be completed, and construction will begin promptly to serve athletes and clubs across the emirate.

 

UAE’s Future-Focused Governance Blueprint

The United Arab Emirates (UAE) is developing a governance model designed to tackle complex future challenges, according to Ruqayya AlBlooshi, Executive Director for International Relations and Government Knowledge Exchange at the UAE Prime Minister’s Office. In an exclusive interview, AlBlooshi discussed the UAE’s strategy to address global issues like climate change and artificial intelligence before they become widespread concerns.

Highlighting the UAE’s proactive stance, AlBlooshi pointed to the country’s recent hosting of COP28 and the appointment of a Minister of Artificial Intelligence as key examples. These efforts are part of a broader initiative to diversify the UAE’s economy and solidify its role as a global leader in governance and innovation.

The UAE’s governance model was tested during the COVID-19 pandemic, showcasing its resilience and agility. The country’s effective response earned it high global rankings and further enhanced its reputation.

In addition to its governance innovations, the UAE has adopted a “business first” approach to diplomacy, emphasizing Comprehensive Economic Partnership Agreements (CEPAs) to expand its economic influence globally. This strategy aims to diversify the economy beyond oil, position the UAE as a trade and logistics hub, and enhance its diplomatic influence. The UAE’s neutral stance in global geopolitics has also helped it maintain strong relationships with major powers.

The country’s efforts have been recognized globally, with the UAE rising to 10th place in the Global Soft Power Index, thanks to its reputation for safety, stability, and business-friendly policies. State-affiliated companies play a crucial role in this, driving the UAE’s global presence through overseas investments and attracting foreign direct investment.

Dubai Real Estate Sees Significant Growth in August

Dubai’s real estate market has continued its impressive performance with August property sales reaching AED47.3 billion ($12.9 billion), marking a 40.8% increase compared to the same month last year.

According to fäm Properties’ market update, the number of transactions last month surged to 16,159, up by 36.9% from August 2023. The average price per square foot also rose by 6.1%, reaching AED1,493 ($407).

The highest-priced property sold was a luxury apartment at the Dorchester Collection in Business Bay, which fetched AED139 million ($37.8 million).

Key Sales Highlights for August:

  • Land Sales: Saw a dramatic increase with 1,396 plots sold for AED15.1 billion ($4.1 billion), up 153.8% from the previous month.
  • Apartment Sales: Totaled AED23.5 billion ($6.4 billion), with 12,268 units sold, reflecting a 37.6% increase in volume.
  • Villa Sales: 2,126 villas were sold for AED8 billion ($2.2 billion), a 4.6% rise compared to August 2023.
  • Commercial Property: 369 transactions amounted to AED674 million ($184 million), showing a 19.8% increase from the previous year.

August’s figures make it the second-highest month of the year for sales value, following July, which recorded 15,994 transactions worth AED49.6 billion ($13.5 billion).

Firas Al Msaddi, CEO of fäm Properties, commented, “The strong performance of Dubai’s real estate market underscores the steady growth and investor confidence we’ve seen in recent years. Dubai’s ongoing appeal as a premier real estate investment destination is evident.”

Comparative Sales Data for August Over Five Years:

  • 2020: AED4.7 billion ($1.3 billion) from 2,400 transactions
  • 2021: AED14.98 billion ($4.1 billion) from 5,800 transactions
  • 2022: AED23.4 billion ($6.4 billion) from 9,400 transactions
  • 2023: AED33.6 billion ($9.1 billion) from 11,800 transactions
  • 2024: AED47 billion ($12.9 billion) from 16,000 transactions

The priciest villa sold in August was at Amali Island, on the World Islands, for AED71 million ($19.3 million).

Top Performers in August:

  • Jumeirah Village Circle: Led in transactions with 1,378 properties sold, totaling AED1.4 billion ($381 million).
  • Marina Views: The best-selling off-plan project with 425 apartments sold for AED1.4 billion ($381 million).
  • The Valley, Venera: Top off-plan villa project with 416 units sold for AED1.3 billion ($354 million).

Off-plan sales outpaced ready properties significantly, comprising 71% of transaction volume and 72% of value, compared to 29% and 28% for ready properties, respectively.

Sales by Price Range:

  • Above AED5 million ($1.4 million): 8% of total sales
  • AED1-2 million ($272,200-$544,500): 29%
  • Below AED1 million ($272,000): 28%
  • AED2-3 million ($544,500-$817,000): 18%
  • AED3-5 million ($817,000-$1.4 million): 16%

Dubai Developer Binghatti Unveils $600 Million Binghatti Royale in JVC, Set for Completion by 2025

Dubai-based property developer Binghatti has unveiled its newest project, Binghatti Royale, situated in Jumeirah Village Circle (JVC). This launch addresses the high demand for Binghatti properties in the area, following the rapid sell-out of previous projects, some of which sold out within just 24 hours.

Binghatti Royale will offer 354 residential units, ranging from one to three-bedroom apartments, alongside 16 retail spaces spread across 47 floors.

Muhammad BinGhatti, Chairman of Binghatti, commented, “We are excited to launch Binghatti Royale in Jumeirah Village Circle. The swift sell-out of our recent projects underscores the strong market demand for our developments in this area. We are delighted to introduce this new project to meet the growing need for premium residences.”

Construction is progressing well, with the project expected to be completed and handed over in early 2025. Binghatti Royale will feature a range of amenities including an infinity pool, private suite pools, a children’s pool, an outdoor gym, multi-purpose lawns, and both paddle and tennis courts. The development will also include social spaces such as a juice bar, outdoor dining areas, and landscaped gardens.

Located in the vibrant heart of JVC and overlooking Al Khail Road, Binghatti Royale benefits from the community’s reputation for being family-friendly, with abundant green spaces and a variety of amenities, contributing to its rapid growth.

Chairman BinGhatti added, “Binghatti Royale reflects our commitment to building thriving communities in Dubai, like Jumeirah Village Circle. We are eager to launch more projects soon, continuing to provide exceptional value to our clients and investors.”

Moha Bensofia: Transforming Brain Health Through Cutting-Edge Neurotechnology

Moha Bensofia: Revolutionizing Brain Health and Investment

Moha Bensofia is a dynamic entrepreneur and investor who has made significant strides across multiple industries. His journey from turning around a bankrupt company to becoming a leading figure in neurotechnology is nothing short of remarkable.

A Storied Entrepreneurial Journey

In 2000, at just 25, Moha Bensofia turned around a bankrupt company, transforming it into a market leader in rubber band sales across Latin America. This early success laid the foundation for a diverse career in investment and entrepreneurship. Moha has since been involved in several high-profile startups, including Fishbrain, Werlabs, and Natural Cycles, showcasing his knack for identifying and nurturing promising ventures.

Pioneering Neurotechnology with Mendi

Moha’s foray into the neurotechnology sector began with his early investment in Mendi, a company specializing in real-time, medical-grade neurofeedback devices. Fascinated by Mendi’s potential to enhance brain health, Moha stepped in as CEO. Under his leadership, Mendi’s crowdfunding campaigns achieved remarkable success, raising $2.1 million on Kickstarter against a target of $50,000.

Mendi’s technology aims to address a range of mental health challenges, including anxiety, PTSD, and ADHD. Originally developed for individuals affected by trauma, the Mendi headset now offers broader applications, including brain training for entrepreneurs and professionals seeking to improve their cognitive function.

A Vision for Brain Health

Moha’s vision extends beyond traditional applications of neurofeedback. He believes that brain health will soon become as integral to our daily routines as the smartphone, transforming how we manage our mental well-being. This forward-thinking approach aligns with insights from experts like Dr. Lauren Silbert, a neuroscientist from Princeton University. Dr. Silbert emphasizes the importance of understanding neurofeedback and navigating the science behind brain health to empower individuals in their pursuit of mental balance.

Future Directions

Looking ahead, Moha Bensofia and his team at Mendi are focused on expanding their impact. Plans include enhancing the user experience with new product developments, integrating data from various health sensors, and personalizing brain training programs. Moha’s commitment to advancing brain health reflects a broader trend towards integrating mental well-being into everyday technology.

In addition to his work with Mendi, Moha Bensofia’s role as an angel investor and operational leader continues to shape the startup ecosystem. His diverse background and passion for transformative ventures underscore his dedication to improving lives through innovation.

Moha’s  journey from a successful entrepreneur to a pioneer in neurotechnology highlights his role in shaping the future of brain health. As he and his team at Mendi push the boundaries of what’s possible, they are paving the way for a new era of cognitive well-being. With a vision that aligns with the evolving needs of modern life, Moha’s work promises to make a lasting impact on how we approach mental health and personal development.