Latest news with #USD1.5
What's On
09-07-2025
- Business
- What's On
UAE ranks second globally in number of supertall skyscrapers
According to newly released data from the Council on Tall Buildings and Urban Habitat (CTBUH), the UAE has surpassed the USA in the number of completed supertall buildings. The recent report revealed that the UAE now has 37 skyscrapers, six more than the United States, which has 31. The criteria for this category includes completed buildings that are 300-metres-tall or more. As expected, Dubai is leading this surge for the UAE, home to some incredibly iconic towers like the Burj Khalifa. The UAE also ranks third globally across all height categories, with 345 buildings over 150 metres and 159 above 200 metres. According to a report by The National, China, however, takes the prize across every height category, far ahead with 122 supertall structures over 300 metres, 3,497 buildings taller than 150 metres, 1,271 over 200 metres. Towers in Chinese cities like Shanghai, Shenzhen, and Guangzhou are home to the global top 10 tallest buildings, with landmarks such as the Shanghai Tower, standing at 632m and the Ping An Finance Center at 599m. The tallest towers in Dubai It is well documented that the Burj Khalifa is the winner of this one – 828-metres-tall, the tallest in the world, but there are some other incredible soaring towers that are part of Dubai's world-famous skyline. Marina 101 is the second tallest building in Dubai, a residential building standing at 425 metres and currently the 4th-tallest residential building in the world. Next is the Princess Tower, 414 metres and once upon a time, the tallest residential building in the world. 23 Marina is next at 392.8 metres, followed by Elite Residence at 381 metres, and then Kempinski The Boulevard at 370 metres, which is also the 56th tallest building in the world. Almas Tower, Gevora Hotel, Il Primo and the JW Marriott Marquis Dubai complete this list of the current, completed top ten. Coming soon But of course, Dubai never stops building, and a list of upcoming supertalls is already on the horizon. Burj Azizi is eyeing 725 metres, second to only the Burj Khalifa, and will also be home to the world's highest observation deck (level 130), the world's highest nightclub (level 126), the world's highest restaurant (level 122), and the world's highest hotel room (level 118). The project is projected to cost USD1.5 billion and a tentative completion date is set for 2028. The Burj Binghatti Jacob & Co Residences, a collaboration between luxury jewellers Jacob & Co, and Emirati property development company Binghatti, will be located in Business Bay, and will include two and three-bedroom residences, an infinity pool, and in-house concierge services including private chefs, bodyguards, chauffeurs, and chefs. The design shows a height of 595 metres. The Six Senses Residences Dubai Marina will skirt 517 metres into the sky, and will be the second Dubai property from Six Senses, joining the already under construction Six Senses The Palm. It is set to be completed in July 2028, featuring 251 residences, which are all designed to offer a holistic, wellness-centric approach to living. This will apply both to the design of the tower, the interiors of the residences, and the community spaces. @ Images: Socials/Mo Azizi > Sign up for FREE to get exclusive updates that you are interested in
Daily Express
09-07-2025
- Business
- Daily Express
Sabah stresses on collab to build local capabilities
Published on: Wednesday, July 09, 2025 Published on: Wed, Jul 09, 2025 By: Sherell Jeffrey Text Size: Hazli, Dr Pascal and Mohd Sabri. Kota Kinabalu: What sets Sabah apart is its emphasis on collaboration rather than competition between companies. Major players are working together to build local capabilities and create sustainable growth. 'Collaboration and co-creation is very important,' said Senior Vice President of Malaysia Assets and Petronas Carigali Sdn Bhd Chief Executive Officer Hazli Sham Kassim, describing how Petronas works closely with local companies to serve smaller customers. 'It is better for us to work with the local company, in this case, Sabah Energy Corporation (SEC) and SMJ Energy (SB), so that they can supply to the local customers. 'This collaborative approach has practical benefits, allowing local companies to grow while enabling major corporations to focus on larger projects,' he said. The industry recognises that Sabah's success depends on developing local talent and expertise. 'You cannot just pick people off the ground from the villages and say, okay, here are our bodies and we are going to do this work for you,' said Malaysia and Vietnam at Hibiscus Petroleum Country Manager Dr Pascal Hos noting the importance of proper capability building. 'You need to build capability, you need to build capacity and that can only be done in collaboration with us as your partners,' he said. The approach is already showing results with Yinson Energy Chief Executive Officer Datuk Mohamed Sabri Mohamed Zain noting that Yinson Energy achieves a notable 95 per cent local content in its operations, including its FPSO Helang in Sarawak, which is staffed entirely by locals. 'Our projects are easily USD1.5 billion, USD2 billion type of capex. Of course, it is a long-term project. It is a long-term recurring income, 20 years, 25 years,' said Mohamed Sabri. These huge investments require sophisticated financing and demonstrate international confidence in Sabah's potential, he said. * Follow us on our official WhatsApp channel and Telegram for breaking news alerts and key updates! * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available. Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia
India.com
04-06-2025
- Business
- India.com
Rs 120000000000 hidden in this building, looks like a matchbox but..., rich people crazy for it because....
Rs 120000000000 hidden in this building, looks like a matchbox but…, rich people crazy for it because…. There are some buildings that do not at all look attractive from the outside, but from the inside, they can astonish anyone with their lavishness. Similarly, a 6-storey building, which is located in Singapore, may look like a matchbox, but inside it, a tremendous amount of treasure is hidden that would take years to count. The building is so important that the lives of several billionaires from all over the world are connected to it. Let's know more about this structure. Why Is This Building So Special? The building we are talking about is a storehouse of gold. The rich from across the world store their gold here. This structure which has become the first choice of the billionaires of the world, is – The Reserve of Singapore. The rich are keeping their gold and silver safe in the high-security vault installed in this building. As people are turning to physical gold. It is not so safe to keep gold and silver in homes, so people are turning to The Reserve. Who Is The Owner Of This Building? Amid global instability and declining confidence in traditional banking, wealthy people are majorly storing gold reserves internationally. Due to which Singapore's The Reserve building experiencing a surge in demand. This highly secure facility is owned by Gregor Gregersen and managed by Glenreagh. The structure offers private vaulting services for its exclusive customers. The building's gold and silver storage orders have risen by 88 percent, while sales of gold and silver bars have doubled year-on-year. This trend indicates The Reserve's increasing importance as a safe haven for high-net-worth people's assets. What Is The Value Of This Building? A building containing USD1.5 billion (approx Rs 12,000 crore) worth of gold and silver employs extremely stringent security measures. These measures, designed to prevent even the slightest unauthorised movement, include biometric access, constant surveillance, and advanced climate control systems to ensure the complete safety of the precious metals like gold.
Yahoo
14-03-2025
- Business
- Yahoo
Ucloudlink Group Inc (UCL) Q4 2024 Earnings Call Highlights: Revenue Growth Amidst Mixed ...
Total Revenue (2024): USD91.6 million, a 7.1% increase year over year. Net Income (2024): USD4.6 million. Net Cash Flow from Operations (2024): USD9.2 million, a 41.2% increase from the previous year. Fourth Quarter Revenue (2024): USD26 million, a 19.5% increase from USD21.7 million in Q4 2023. Gross Margin (Q4 2024): 43%, compared to 52% in Q4 2023. Net Loss (Q4 2024): USD1.5 million, compared to USD1.8 million in Q4 2023. Adjusted EBITDA (Q4 2024): Negative USD2.3 million, compared to positive USD1.5 million in Q4 2023. Revenue from Services (Q4 2024): USD15 million, a 0.6% increase from USD14.9 million in Q4 2023. Overall Gross Margin (2024): 48.4%, stable compared to 49% in 2023. Operating Expenses (2024): USD40.8 million, or 45% of total revenues. Cash and Cash Equivalents (Dec 31, 2024): USD30.1 million. Capital Expenditures (2024): USD4.0 million. Warning! GuruFocus has detected 3 Warning Signs with UCL. Release Date: March 13, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Ucloudlink Group Inc (NASDAQ:UCL) reported a 7.1% year-over-year increase in revenues for 2024, reaching USD91.6 million. Net income for 2024 was USD4.6 million, a significant increase from USD2.8 million in 2023. The company achieved a positive operating cash flow of USD9.2 million in 2024, up from USD6.5 million in 2023. Ucloudlink's GlocalMe ecosystem continues to expand, with services now covering over 150 countries and serving 2,818 business partners. The company received approval from China's Ministry of Industry and Information Technology for pilot operations of value-added telecommunications services, marking a pivotal step in expanding its global footprint. Ucloudlink Group Inc (NASDAQ:UCL) reported a net loss of USD1.5 million in the fourth quarter of 2024, compared to USD1.8 million in the same period of 2023. Adjusted EBITDA was negative USD2.3 million in the fourth quarter of 2024, compared to positive USD1.5 million for the same period of 2023. Overall gross margin decreased to 43% in the fourth quarter of 2024 from 52% in the same period of 2023. Sales and marketing expenses increased significantly in 2024, impacting overall profitability. Revenue from North America decreased to 12.1% of total revenues in the fourth quarter of 2024, down from 24.3% in the same period of 2023. Q: What is the benefit of the PetPhone, and what will it allow users to do? A: Chaohui Chen, CEO, explained that the PetPhone enables pets to communicate with their owners and other pets, expressing needs such as hunger or wanting to go outside. It also features AI Pet Interaction, safety with 6-tech global positioning, and community engagement through a Global Pet Community. The PetPhone has attracted significant attention and is expected to open new markets for carriers by selling SIM cards for pets. Q: Of the new products introduced at MWC, which do you think will have the biggest impact in 2025? A: Chaohui Chen, CEO, believes the PetPhone will have a significant impact due to its uniqueness and market potential. The eSIM Trio and CloudSIM Kit are also expected to be impactful by solving coverage, roaming, and congestion issues, especially for Tier 2 and Tier 3 carriers. Q: What assumptions were made about international travel in the full-year 2025 revenue forecast? A: Yimeng Shi, CFO, stated that the forecast assumes a 10% to 20% growth in international travel, contributing to the revenue increase. The forecast also considers growth from new business lines like the PetPhone, CloudSIM Kit, and eSIM Trio. Q: Can you elaborate on the trends in your cost structure, particularly the increase in sales and marketing expenses? A: Yimeng Shi, CFO, noted that the increase in sales and marketing expenses is due to investments in new business lines launched in the second half of 2024. These investments are expected to yield returns in 2025, with continued investment in sales and marketing to support long-term growth. Q: What were the key drivers of revenue growth from Mainland China last year, and how do you expect this to evolve? A: Yimeng Shi, CFO, attributed the growth to increased Chinese outbound travel and the company's strong brand recognition. The recent approval for pilot operations of value-added telecom services in China is expected to drive further growth domestically and internationally. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus.
What's On
13-03-2025
- Business
- What's On
7 upcoming skyscrapers that will change the skyline of Dubai
Approximate height: 450 meters Number of floors: 106 The Franck Muller Aeternitas Tower isn't just a regular tower; it will be the city's first residential clock tower. It is set to be one of the tallest residential clock towers in the world, joining the many other skyscrapers in Dubai. The collaboration is between Swiss luxury watch manufacturer Franck Muller and UAE's premium real estate developer, London Gate. The Franck Muller Aeternitas Tower will stand at a height of 450 meters adding another jewel to the (already) gorgeous Dubai skyline. It is set to be built in the Dubai Marina. According to a post on Franck Muller's website, 'residents can expect a handover by 2026.' *11 transportation systems coming to the UAE* Six Senses Residences Dubai Marina Approximate height: 517 meters Number of floors: 122 In 2024, ultra-luxury, wellness-focused hospitality operator Six Senses is expanding to Dubai. The brand has unveiled plans for a new residential tower in Dubai Marina. The Six Senses Residences Dubai Marina will be the second Dubai property from Six Senses, joining the already under construction Six Senses The Palm. It is set to be completed in July 2028. The tower will feature 251 residences, which are all designed to offer a holistic, wellness-centric approach to living. This will apply both to the design of the tower, the interiors of the residences, and the community spaces. Apartments will start from Dhs5.8 million. Burj Binghatti Jacob & Co Residences Approximate height: 595 meters Number of floors: 103 Burj Binghatti is a collaboration between luxury jewellers Jacob & Co, and Emirati property development company Binghatti. Located in Business Bay, the tower will include two and three-bedroom residences, an infinity pool, and in-house concierge services including private chefs, bodyguards, chauffeurs, and chefs. And, since this collaboration includes a luxury jewellery company, we can expect the architecture to reflect a little bit of bling. This jewel is sure to make an excellent addition to the skyscrapers in Dubai. Burj Azizi Approximate height: 725 meters Number of floors: 133 Set to make a wow-worthy impression on the city's skyline, Burj Azizi is eyeing a completion date for 2028. The USD1.5 billion skyscraper will offer a mix of residential, hotel, and entertainment spaces plus a luxury mall. Every 20 floors of the residence will have a dedicated swimming pool, sauna, steam room, gym, yoga centre, a spa, a game room, business centre, kids' play area, a restaurant, coffee shop, and supermarket. And the cherry on top? A cinema. Wow. Up even higher, we will be able to check into an all-suite seven-star hotel. It will be inspired by seven cultural themes – Arabic, Chinese, Persian, Indian, Turkish, French, and Russian. And each theme will have a culturally styled restaurant. We can also expect an authentic Emirati restaurant to be a key feature of the hotel. Burj Azizi will also be home to the world's highest observation deck (level 130), the world's highest nightclub (level 126), the world's highest restaurant (level 122), and the world's highest hotel room (level 118). Dubai Creek Tower Approximate height: To be announced, but as per Emaar, 'taller than 828m' Number of floors: To be announced Located in Dubai Creek Harbour, near Ras Al Khor National Wildlife Sanctuary, Dubai Creek Tower was set to be a new landmark architectural marvel with a 360-degree viewing deck inspired by the Hanging Gardens of Babylon, a viewing deck with a café, as well as a central plaza featuring shops, a museum, and an indoor auditorium. But, plans were announced that it was set to be redesigned. Emaar is yet to reveal the new concept.
