News
Amazon to acquire SOUQ.com
Amazon today announced that it has reached an agreement to acquire SOUQ.com, an e-commerce leader in the Middle East. Joining the Amazon family will enable SOUQ.com to continue growing while working with Amazon to bring even more products and offerings to customers worldwide.
“Amazon’s entry into the region reflects the visionary foresight of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, who launched Dubai Internet City in 1999 and adopted the e-commerce and online business legislation of 2002,” said His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai. “Furthermore, it reiterates Dubai’s position as a regional and global hub for the world’s biggest and leading organizations, fostering in its ecosystem that amalgamates the brightest minds, talent, thought leaders, entrepreneurs and investors from around the world.”
“Amazon and SOUQ.com share the same DNA – we’re both driven by customers, invention, and long-term thinking,” said Russ Grandinetti, Amazon Senior Vice President, International Consumer. “SOUQ.com pioneered e-commerce in the Middle East, creating a great shopping experience for their customers. We’re looking forward to both learning from and supporting them with Amazon technology and global resources. And together, we’ll work hard to provide the best possible service for millions of customers in the Middle East.”
“We are guided by many of the same principles as Amazon, and this acquisition is a critical next step in growing our e-commerce presence on behalf of customers across the region,” said SOUQ.com CEO and Co-Founder Ronaldo Mouchawar. “By becoming part of the Amazon family, we’ll be able to vastly expand our delivery capabilities and customer selection much faster, as well as continue Amazon’s great track record of empowering sellers.”
Subject to closing conditions, the acquisition is expected to close in 2017.
Home Integrator
Samsung Reimagines Home Automation With AI-Powered Smartthings Ecosystem
Samsung Gulf Electronics continues to enhance its breakthrough SmartThings platform, taking connected living to new heights. The latest innovations in the SmartThings ecosystem introduce advanced AI-driven features that promise to revolutionize home management, energy efficiency, and family care.
These advances align with increasing traction for home automation in the UAE residential market. Research shows that the UAE smart home market is set to grow at an annual rate of 10% from 2024 to 2028, with household penetration projected to rise from 16% to 23% during the same period, signaling strong adoption of this technology.
Shafi Alam, Head of Direct-to-Consumer Business & Corporate Marketing at Samsung Gulf Electronics, said, “Samsung’s latest advancements in the SmartThings ecosystem mark a significant leap forward in smart home technology. By harnessing the power of AI, we’re not just automating homes; we’re creating intelligent living spaces that adapt to users’ needs, save energy and enhance family well-being. This holistic approach to connected living aligns with the UAE’s vision for a smarter, more sustainable future.”
At the heart of these upgrades is the innovative Smart Energy Saving feature, which automatically activates energy-saving modes when they’re most effective without compromising comfort through leveraging AI. Meanwhile, with the Save Energy While Away function, SmartThings can detect when residents are out and send notifications prompting users to adjust connected devices to minimize unnecessary energy consumption. These features not only minimize energy spend but also contribute to a more sustainable lifestyle.
Family care takes center stage with new scenarios designed to enhance home safety and comfort. The Safe and Comfortable Welcome feature prepares the home for arrival by adjusting lighting and temperature and even starting appliances like air purifiers. Working parents can also prepare their homes for their children’s return from school, with the ability to prioritize their safety by keeping a watchful eye on them through SmartThings. For pet owners, the Keep Your Pet Safe and Healthy scenario offers peace of mind by monitoring pets’ activities, with the ability to communicate with and feed their furry friends remotely.
Security remains paramount in this connected ecosystem. Samsung’s Knox platform has been fortified to provide defense-grade protection across all layers of the SmartThings network, ensuring that as homes become smarter, they also become more secure against cyber threats.
The updated SmartThings platform also lays the groundwork for broader smart city initiatives. As individual homes become more intelligent and efficient, they contribute valuable data that can be used to optimize urban services, from energy distribution to traffic management. This will contribute to government ambitions to make UAE cities the smartest in the world, as Dubai and Abu Dhabi continue to rise in global smart city indexes.
Home Integrator
Property Finder Reveals Most Searched Home Features across Property Searches in 2024
Who doesn’t love searching the Property Finder platform for the most exciting or unusual properties available in the UAE. As 2024 draws to a close, MENA’s leading property portal has updated its home for every life index – offering a glimpse at some of the most unique properties on the platform.
Add to that insights into what home seekers searched for most in 2024 when looking for properties in the UAE, and you get a comprehensive view of how trends in lifestyles and preferences are shaping the real estate market. From ultra-modern penthouses with private cinemas to sprawling villas featuring outdoor kitchens and zen gardens, Property Finder’s data highlights the evolving aspirations of UAE residents.
The Home for Every Life Index, first launched earlier this year, is a proprietary Index designed to showcase the diversity of properties across the nation, reflecting everything from family-friendly layouts to luxury amenities sought by discerning buyers and renters.
Whether it’s a focus on sustainability, wellness, or bespoke features, the Index continues to inspire and inform the real estate landscape in the UAE. Here’s a snapshot of some of the homes on the home for every life index:
- For Foodies: a villa with a full-size, custom-made industrial kitchen with walk-in fridge
- For spa and well-being enthusiasts: a villa with a Moroccan bath and steam room
- Art and culture lovers: a villa with art from Syria, Morocco, India, and China, alongside hand-painted walls and mosaics
- View Seekers: an apartment with 360-degree terrace
- For petrol heads: a villa with a carport lift
The platform’s latest update not only captures the pulse of property trends but also provides valuable insights into how homeseekers are redefining their idea of a perfect home.
Alongside the Index, proprietary data from Property Finder indicates that homebuyers and renters place a premium on amenities that enhance their lifestyle. More than 5.5 million homeseekers wanted properties with a balcony, for example, while 3.1 million prioritised larger spaces featuring a maid’s room. Central air conditioning followed closely behind with 2.3 million searches considering this a must-have. Other common preferences included:
- Gyms (1.5 million)
- Pet-friendly spaces (1.4 million)
- Private pools (1.3 million)
- Homes with stunning water views (1.3 million)
Interestingly, more niche searches for homes with barbecue areas, private jacuzzis and security systems are also on the rise.
Additionally, over 65,500 manual searches were for ‘freehold’ properties highlighting the growing demand for ownership opportunities in the UAE, while short-term rentals ranked within the top 25 most searched terms, reflecting a growing interest for more flexible living options. Notably, this was also seen within the most searched terms for both Dubai and Abu Dhabi. Dubai saw over 22,000 searches for short-term rentals, while Abu Dhabi recorded 5,400 searches, underlining the growing trend for shorter term stays across the different emirates.
Home Integrator
Dubai Land Department Encourages Property Owners to Join Owners Committees for Enhanced Governance
The Real Estate Regulatory Agency (RERA), a subsidiary of Dubai Land Department, invites all property owners residing in jointly owned properties to take the initiative and register for Owners Committees, in lines with the Jointly Owned Property Law in Dubai and with RERA’s ongoing efforts to enhance transparency and ensure the sustainability of properties in the emirate.
The Owners Committees play a crucial role in empowering property owners and fostering their active involvement in managing residential communities. This initiative aims to enhance the quality of life, ensuring greater comfort and satisfaction for all residents, and aligns seamlessly with Dubai’s forward-thinking vision to optimise the management of jointly owned properties while promoting transparency and accountability in every aspect.
Mohammed Ali Al Badwawi, Acting CEO of RERA, emphasised that automating the registration process for Owners Committees aims to streamline procedures and ensure seamless coordination between Owners’ Committees and management companies: “Owners Committees are an integral part of the emirate’s vision for managing jointly owned properties. They play a crucial role in achieving real estate sustainability by reviewing budgets, prioritising maintenance requirements for buildings and common facilities, and providing feedback on service plans. These committees are not just tools for property management but also serve as a means to promote values of collaboration and community engagement.”
Mohammed Al Dah, Director of the Jointly Owned Properties Management Department at RERA, affirmed that registering in Owners Committees provides property owners with a genuine opportunity to actively participate in decision-making within their residential communities: “These committees play a vital role in safeguarding investments and ensuring the highest levels of efficiency and transparency. We urge all eligible property owners who meet the necessary criteria to take the initiative and register for these committees, as they are fundamental to enhancing project management and the well-being of residents.”
Property owners interested in joining the Owners Committees must meet a set of criteria, including residing in the property, holding a valid UAE ID, providing a certificate of good conduct issued by Dubai Police, and settling all outstanding service fees. The Real Estate Regulatory Agency has clarified that that registration is open until 31 January 2025, with priority given to the first nine registrants. Members will be approved by RERA, and the committee members for each group will be announced in February.
RERA emphasises that this initiative reflects its commitment to upholding integrity and fostering collaboration among all stakeholders in the real estate sector. Owners Committees also present an excellent opportunity for property owners to contribute to building thriving and sustainable communities aligned with the values of innovation and Dubai’s ambitious vision.
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