DHG's Jumeirah Village Circle project on track for H1 handover
With 25% of the construction work already completed, the project is well on track for its expected June 2026 handover.
Giving a project update, FHG Properties said structural works have reached the 7th level of the building, following the successful completion of the ground floor, three podium parking levels, and the first two apartment floors.
Infrastructure installations are carried out simultaneously, while major milestones have been achieved in blockwork, plastering, and interior finishing across multiple levels, it stated.
In line with DHG's commitment to delivering Swiss quality, a dedicated team of Swiss specialists is scheduled to come in April to oversee the project's execution and ensure every detail reflects the precision and craftsmanship synonymous with the DHG brand.
Blagoje Antić, Chairman of the Board and CEO of DHG Group, said: "The continued progress at Helvetia Residences reflects our team's dedication to delivering a landmark project in Dubai"
"Backed by our Swiss heritage, we remain committed to the highest standards of design, comfort, and functionality - not only for this project but also for our future developments, as we have ambitious growth plans in this market. We are excited about our second development in Meydan Bu Kadra as we continue to bring extraordinary developments for Dubai residents," stated Antic.
Helvetia Residences, he stated, has attracted a diverse mix of local and international buyers, particularly from Europe, which resulted in 90% of the units being sold in less than a year since sales began.
"This is a strong testament to DHG's track record of developing projects that blend premium Swiss quality and affordable luxury living concepts. The strong sales performance is supported by the sustained investor confidence in Dubai's off-plan sector, which accounted for over 60% of total property transactions in 2024," he noted.
With robust infrastructure development and a positive economic outlook, demand for off-plan properties is expected to continue growing throughout 2025, he added.
Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (Syndigate.info).
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Gulf Today
4 days ago
- Gulf Today
5 years after COVID, pharma shares languish
Global healthcare stocks have not been this cheap in decades and fund inflows into the sector are picking up, yet the shares remain in the doldrums, highlighting uncertainty over drug pricing policies since Donald Trump returned to the White House. Pharma companies' earnings outlook is being obscured by concerns over revived "most-favored-nation" drug pricing rules in the lucrative US market and potential 200% tariffs on pharma imports into the US. Money flooded into drugmakers' shares during the COVID-19 pandemic but more recently there has been an exodus as investors shifted into Big Tech, leaving the sector cheap but unloved, reported Reuters. At 15.9 times forward earnings, healthcare trades 11% below its long-term average and 20% below global equities, its steepest discount in 16 years, just above a record discount in 2009, based on LSEG Datastream data. "We've moved from cautious optimism to cautious pessimism," said Stephanie Aliaga, global market strategist at J.P. Morgan Asset Management in New York. "Valuations have gotten even cheaper, but for a reason," she added, referring to intensifying US policy risks. But some investors are starting to look past the Washington policy fog and at long-term positive drivers, such as aging populations, RNA-based therapeutics, and breakthroughs in weight-loss and diabetes drugs, Reuters reported. Alberto Conca, CIO at Swiss wealth manager LFG+ZEST, has been adding exposure to pharma, biotech and medtech in recent weeks, drawn by strong cash-flow yields and the prospect of US rate cuts boosting this rate-sensitive sector. Interest rate cuts typically support healthcare by lowering R&D funding costs and boosting the value of future cash flows. "These are quality companies with good growth and defensive features being priced as if we're heading into an 'Armageddon scenario', which I believe is unlikely," he said. UK-based M&G Investments has also been selectively adding to healthcare, according to its latest allocation report. Healthcare funds have seen net inflows since 2024, more than reversing the outflows from late 2022 through 2023, fund tracker EPFR data shows. Although year-to-date, inflows total $7.2 billion, down 41% from last year. Innovation is accelerating, pipelines are maturing and M&A is showing signs of picking up — yet stock prices are unmoved. Whether that represents a buying opportunity or a value trap hinges on how and when the policy uncertainty clears, investors said. Historically, healthcare has traded at a modest premium to world stocks, thanks to its defensive profile and steady earnings. But that narrative has unravelled under political pressure from Washington and investors' love of Big Tech. Over the past three years, US healthcare has underperformed the S&P 500 by more than 60 percentage points, making it the worst sectoral performer on Wall Street. Its valuation has deepened to a near-record 27% discount, from parity to the S&P in 2023. "Markets don't like uncertainty, and that shows up in valuations," said Eddie Yoon, healthcare sector leader and portfolio manager at Fidelity Investments in Boston. "Being cheap isn't necessarily a reason to buy. You need a catalyst." For now, that catalyst is elusive. The policy uncertainty makes it difficult to forecast future earnings, he said, though he hopes for more clarity by year-end - potentially also paving the way for more M&A in the industry. Talks with the Trump administration have yet to clarify how and when drug prices will fall, executives from Eli Lilly and Merck said at a May industry conference.
Arabian Post
6 days ago
- Arabian Post
Swiss-Belhotel Brisbane Marks Six-Month Milestone
Strategically located next to The Gabba, the 110-room property affirms Swiss-Belhotel International's growing footprint in Australia BRISBANE, AUSTRALIA – Media OutReach Newswire – 22 July 2025 – Swiss-Belhotel Brisbane has successfully reached its six-month milestone, affirming its position as a key player in the city's upscale hotel segment. Since opening in December 2024, the property has demonstrated robust performance and consistent guest satisfaction, reflecting Brisbane's strong market fundamentals and the group's strategic positioning in Australia. Located in the vibrant inner-city suburb of Woolloongabba, adjacent to the iconic Gabba Stadium, Swiss-Belhotel Brisbane features 110 contemporary rooms and suites designed for both short and extended stays. Each room includes a kitchenette with refrigerator and microwave. The hotel also offers pet-friendly accommodation, catering to a growing trend. ADVERTISEMENT Swiss-Kitchen™ Rooftop Restaurant & Bar, located on Level 12, provides panoramic views of the Brisbane skyline and Gabba Stadium. The rooftop venue serves a variety of breakfast, daytime, and evening options, while leisure facilities include an open-air plunge pool and fitness centre. Strategically situated near South Bank and the Brisbane Convention & Exhibition Centre, the hotel is well-positioned to cater to both leisure and corporate travellers. 'Reaching this six-month milestone is an important achievement for Swiss-Belhotel Brisbane. Brisbane is a growing hub for business, events, and tourism, and we are proud to contribute to the city's evolving hospitality landscape with a product that offers quality, flexibility, and value.' said Gavin M. Faull, Chairman and President of Swiss-Belhotel International. Brisbane continues to see a surge in travel demand. The city welcomed 8.8 million overnight visitors, spending AU$10.7 billion in the year ending June 2024. Brisbane Airport recorded 22.6 million passengers, reaching 95 percent of pre-pandemic levels, highlighting its recovery and popularity. Swiss-Belhotel Brisbane is part of Swiss-Belhotel International's portfolio in Australia and New Zealand. With a global presence spanning 20 countries and more than 150 hotels and projects, Swiss-Belhotel International remains committed to delivering internationally branded hospitality solutions. This commitment to excellence and innovation has earned the group notable industry recognition. In 2024, Swiss-Belhotel International received the Legacy Family Business Award Asia Pacific at the Family Business Association Excellence Awards, and the EY Entrepreneur of the Year – New Zealand Family Business Award, presented to Chairman and President Gavin M. Faull, honouring his visionary leadership and the brand's global success. Hashtag: #SwissBelhotelBrisbane #SwissBelhotelInternational #SwissBelhotel #SBEC #SBECBenefits #BrisbaneHotel #TheGabba #BrisbaneStay #BusinessAndLeisure #TravelQueensland The issuer is solely responsible for the content of this announcement.
Arabian Post
17-07-2025
- Arabian Post
Swatch Group Reports Steep Profit & Sales Fallout
Arabian Post Staff -Dubai Swatch Group's first‑half figures underscore a deepening crisis in its key Asian markets after the Swiss watch‑maker disclosed a 7.1 per cent drop in sales, generating CHF 3.059 billion, falling short of market forecasts of CHF 3.2 billion. Operating profit plunged 67 per cent year‑on‑year to CHF 68 million, signalling an urgent warning to investors and management alike. China, alongside Hong Kong and Macau, remains the primary weak spot, contributing 27 per cent of total revenues. Falling demand across these regions continues to undermine core sales and profit performance. Despite encouraging double‑digit growth in North America and market share gains in countries such as Japan, India and the Middle East, these gains have yet to compensate for the shortfall from Greater China. ADVERTISEMENT Net profit attributable to owners collapsed to CHF 3 million, compared with CHF 136 million during the same six‑month period last year. This dramatic decline illustrates the scale of the downturn, making it Swatch's worst half‑year performance in recent memory. Analyst commentary has been scathing: Vontobel described this period as 'an ugly half year for Swatch Group in all respects'. The fallout from slowed Chinese consumer activity has been compounded by negative currency effects—Swiss franc appreciation cut CHF 113 million from turnover relative to constant‑currency comparisons. Adding fresh complexity, new U. S. tariffs threaten to raise costs on Swiss watch imports by up to 31 per cent. Industry stakeholders now warn that these levies could further weigh on margins, with retailers like Watches of Switzerland projecting a margin squeeze in the year ahead. Beyond external pressures, a growing number of investors are scrutinising Swatch's internal governance. Shareholder activism has surfaced, with calls for more oversight of the centrally controlled Hayek family, whose dual‑class voting structure remains a source of contention. Net profits collapsed by 75 per cent to CHF 219 million in 2024, but critics assert that this malaise runs deeper. GreenWood Investors, led by Steven Wood, has launched a push to join the board, advocating for brand revitalisation, governance reforms and a strategy pivot toward luxury exclusivity akin to Hermès and Ferrari. Management, though addressing short‑term volatility, emphasises Swatch's entrenched strengths. Its vertically integrated manufacturing, with over 150 production sites, and the success of the affordable MoonSwatch line demonstrate resilience. The company has pledged that cost‑cutting measures and a pipeline of new product launches—particularly in the U. S. and Japan—should drive a rebound in the second half of the year. The first‑half slump follows broader downturns last year, when revenue declined 12.2 per cent to CHF 6.74 billion in 2024, and operating profit fell 75 per cent to CHF 304 million. That drop reinforced trading floor rumours of governance fatigue and brand dilution at high‑end labels like Omega and Breguet. Economically, China's consumer landscape remains unsettled. A combination of property market stress, slower GDP growth and official campaigns discouraging conspicuous consumption have dampened luxury spending. Swiss watch exports to China and Hong Kong plunged by double digits in early 2024, while only the lower‑priced Swatch line bucked the trend in the region, gaining 10 per cent in sales volume. Swatch Group's corporate ambition to maintain full production capacity and avoid layoffs during weak demand, while strategically commendable, has weighed on margins—especially in the production segment. Management asserts this decision safeguards long‑term capabilities and is now beginning to bear fruit, with production margins improving since June. Mixed signs beyond China offer guarded optimism. North America posted record sales, Japan recorded robust growth, and emerging markets like India and the Middle East offered upside. These regions now form the central axis of Swatch's recovery strategy.
