Hilshaw Group executes $ 40 billion Smart City projects – News
The Dubai-based group, which mainly invests in low-supply and limited real estate opportunities, is focusing on green development initiatives in its Smart City projects to provide a pollution-free environment
The Hilshaw Group is leading smart city development in the Middle East, Africa and the Commonwealth of Independent States by executing nine projects worth more than $ 40 billion, its senior official said.
The Dubai-based group, which mainly invests in low-supply and limited real estate opportunities, is focusing on green development initiatives in its Smart City projects to provide a pollution-free environment.
“We have a strong pipeline of Smart City projects in Albania, Belarus, Georgia, Kyrgyzstan, Montenegro and Uzbekistan, each valued at around $ 5 billion,” Lal Bhatia, chairman of the Hilshaw group, told Khaleej Times in an interview.
Hilshaw Group is a multi-family office and investment advisor with an existing fund size of $ 500 million. It has offices in Thailand, Italy and Russia, with its investment and acquisition headquarters in Dubai.
Bhatia said the company has been appointed exclusive advisor for a Smart City development in Nairobi, valued at seven billion euros. He is also an exclusive advisor for an 86-hectare project in Kazakhstan and has raised $ 450 million to start construction soon.
“The Hilshaw Group is a consultant for a Smart Green City project in Kenya and two smart city projects in Nur Sultan and Almaty,” he said.
Investing in real estate in UAE
Bhatia said the Hilshaw Group recently allocated $ 175 million to the UAE property market to capitalize on business opportunities in the country.
“When the government introduced the ‘Work from Dubai’ program to meet the growing demand for remote work in the wake of the Covid-19 pandemic, we took it up, realizing that it is indeed the ‘to come up.
“As you know… the program invites non-resident employees and their families to live and work in Dubai and take advantage of its open border policy and year-round favorable climate, while employers in these Applicants enjoy increased productivity based on the emirate’s world. class infrastructure and higher workforce happiness quotient due to reduced restrictions imposed by the pandemic, ”he said.
An organization, he said, spends an average of 25% of its employees’ salaries to support the infrastructure necessary for a productive work environment.
“Needless to say, after 2020, many organizations are hungry for opportunities to save money while keeping their employees safe. Several major technology brands are looking to get out of their now-defunct campuses (due to global bottlenecks and / or social volatility) and adapt HR strategies more suited to the times, ”he said.
Work from Dubai
Bhatia said the “Work from Dubai” program offers a two-pronged benefit to employers in the form of cost savings and productivity.
“The Hilshaw Group is investing in ‘Ready to move in’ or ‘Under Completion’ residential real estate in Dubai like the one we are in… and redevelopment for the ‘Work from Home’ mandate. He is negotiating with three leading technology companies for a total relocation of more than 5,000 employees and their families, ”he said.
When formalizing the deal, he said the invested real estate would be leased for a three-year guaranteed business contract alongside a concierge service for an additional fee to all employees and families moving to. essential processes, including banking, education and others. general social integration.
“The Hilshaw Group’s plans include developing ‘smart health’ and ‘smart education’ infrastructure in developing countries, while continuing to generate exceptional returns for all of the company’s investors and partners,” did he declare.
Responding to a question, Bhatia said Dubai already places great emphasis on all construction activities being environmentally friendly and in compliance with building and design regulations.
“All of our projects comply with government regulations for green initiatives,” he said.
Carbon credit agreement
Bhatia said carbon credits are a concept of any tradable certificate that gives the holder the right to emit a ton of carbon dioxide or equivalent greenhouse gas. Carbon credits and carbon markets are part of national and international attempts to mitigate the growth of greenhouse gas concentrations.
“A carbon credit is generally equivalent to a ton of carbon dioxide. Emissions trading is an emission trading process the objective of which is to encourage low-emission or less carbon-intensive approaches than those used when the emission of carbon dioxide is not entails no cost. The sales of these carbon credits to business entities wishing to reduce their carbon footprint are used to finance and develop green and smart technologies and projects, ”he said.
In line with the goals of the Paris Agreement, he said the Pan-European Carbon Fund (PECF) has carbon offset commitments of around $ 500 billion to $ 1 trillion in funding and investment from by 2050 to help transition to a net zero carbon economy and help build a prosperous and resilient future for society and businesses in developing countries.
“PECF has approved two smart city projects in Kazakhstan for which the Hilshaw group is a consultant and has invested $ 450 million in the developments,” he said.
Expo 2020 Dubai will boost economy
To a question, Bhatia said Expo 2020 Dubai has been an event of great significance for the UAE. However, the pandemic has now dubbed it the biggest trade event in the world after two years of global disconnection.
“We have high expectations of the Expo and its lucrative spinoffs. We would like to take this opportunity to congratulate His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the United Arab Emirates and Ruler of Dubai, for the realization of his vision, ”he said.
He said the impact of the Expo will become evident by the middle of 2022 when visiting organizations realize the value of a presence in Dubai and establish themselves, and investors recognize the city’s position in as the business capital of the world and will bet on the winning team.
An expatriate-to-resident trip
Lal Bhatia, Chairman of the Hilshaw Group, said the country’s vision of leadership has made Dubai a premier destination for businesses, investors and professionals, and it is no surprise that our beloved city has named the fifth best place to live in the world.
“The golden visa and now the green visa will enhance Dubai’s global appeal. It instills a greater sense of belonging to expatriates, which is essential in attracting committed long-term investors and high-level talent, ”he said.
While sharing his feelings on the Golden Visa and how this initiative is beneficial to the country, Bhatia said that the UAE is a nation that welcomes everyone with open arms and provides equal opportunities for all. those who choose to settle there.
“It was my home since the day I personally decided to move here. Yet as you said, “From expatriate to resident”, and while the commitment to where we live has always been there, the golden visa has instilled a greater sense of responsibility for the progress of the nation and its reputation. I am grateful to the leaders of the country for granting me the golden visa and for considering my contributions worthy, ”he said.