logo
Modon launches first townhouses on Abu Dhabi's Hudayriyat Island

Modon launches first townhouses on Abu Dhabi's Hudayriyat Island

Trade Arabia06-05-2025
Modon Holding, a UAE-based holding company, has announced the launch of the first townhouses on Abu Dhabi's Hudayriyat Island at Nawayef Village.
Nawayef Village, a gated community within the larger Nawayef project on the island, will offer 378 freehold units, including three- and four-bedroom townhouses and five-bedroom twin villas set in an environment, designed to evoke the spirit of Tuscany.
Located between the West and East Hills of Nawayef, the integrated development will feature green spaces and community facilities, with retail outlets nearby.
Bill O'Regan, Group CEO of the Abu Dhabi-based company, said: 'The launch of Nawayef Village, an integral part of the Hudayriyat masterplan, represents yet another key milestone in our efforts to redefine community living.
'Responding to strong demand for townhouses in Abu Dhabi, Nawayef Village will offer residents lush landscapes and a comprehensive suite of amenities and facilities, perfectly curated to provide an elevated standard of living,' he added.
The wider Nawayef development enables community living with the city only a short drive away. A number of distinct neighbourhoods make up Nawayef, each offering views across the Abu Dhabi skyline and the azure waters surrounding Hudayriyat Island, with a range of exclusive home designs available to suit a variety of preferences and needs.
Ibrahim Al Maghribi, CEO of Modon Real Estate, added: 'The exclusive townhouses at Nawayef Village are not simply homes but stand as a new benchmark for community living in Abu Dhabi. Residents can expect to find all the amenities and facilities they need within reach, the highest quality of finishes and meticulous attention to detail throughout, ensuring an entirely superior living experience in one of Abu Dhabi's most desirable locations.'-TradeArabia News Service
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Wave Of Suicides Among Chinese Entrepreneurs Signals Deepening Crisis In Private Sector: Expert
Wave Of Suicides Among Chinese Entrepreneurs Signals Deepening Crisis In Private Sector: Expert

Gulf Insider

time11 hours ago

  • Gulf Insider

Wave Of Suicides Among Chinese Entrepreneurs Signals Deepening Crisis In Private Sector: Expert

In the span of just four months, four prominent Chinese entrepreneurs from multiple industries have committed suicide, all reportedly jumping from buildings in desperate final acts. Experts say that these incidents stand in stark contrast to the Chinese regime's official narrative of 'better-than-expected' GDP growth for the first half of the year. On April 16, Bi Guangjun, founder of Jindianzi Textiles Ltd, leapt from the 28th floor of a building. Insiders revealed that he invested heavily in China's new energy industry but lost a fortune. On June 2, Liu Wenchao, chairman of Xizi Elevator Co. Ltd., a firm heavily reliant on China's now-floundering property sector, died after falling from a building. Chinese state-controlled media said that Liu once said that anyone who has ambition ends up scarred. On July 17, Zeng Yuzhou, founder of home renovation chain Liangjiaju Building Materials, jumped from a high-rise in Guangzhou. He left behind a 1 billion yuan ($140 million) mess, affecting over 2,000 families, more than 1,000 employees, and over 300 suppliers, according to Chinese media. Just 10 days later, on July 27, Chinese media reported that the chairman of home retail giant Easyhome New Retail Group, Wang Linpeng, died after jumping off a building, only four days after being released from police custody. Wang had been held by authorities during an anti-corruption investigation. Xiao Yi, a London-based Chinese finance professional with 30 years of experience in the industry and a China watcher, shared his analysis of the four deaths with the Chinese edition of The Epoch Times, where he is a regular contributor. Although the deaths occurred in different sectors, Xiao said he believes that it reveals common underlying pressures strangling China's private sector, which includes collapsing cash flows, mounting debt, policy uncertainty, and the erosion of public trust. He noted that China's ballooning local government debt has crowded out private-sector financing. While state media champion slogans like 'supporting the real economy,' capital is disproportionately funneled to state-owned enterprises (SOEs), leaving private firms informally blacklisted from loans. Chinese banks, being fearful of defaults, are tightening credit, according to Xiao. After Bi's firm suffered massive losses, his bank slashed lending instead of offering support. Liangjiaju's last 5 million yuan ($685,000) in reserve funds were directly seized by its bank, pushing the company into collapse. Since 2021, China's property market has been in freefall, with demand for new and second-hand homes shrinking sharply. Xiao said that this has devastated related sectors—from elevators and interior decoration to appliances and building materials. Liangjiaju's customer payment cycles stretched from two weeks to six months. Xizi Elevator's revenue disappeared as developers defaulted. Xiao pointed out that China's exports have deteriorated due to U.S. tariffs and a surge in manufacturing in Southeast Asia. Bi's textile firm saw orders drop by 40 percent and payment terms double. The cumulative effect of these sector-wide declines has ensnared supply chains and suffocated cash flows. Entrepreneurs in China, Xiao said, are operating in an environment of overregulation and unpredictable policy shifts. Harsh environmental fines, frozen accounts, and arbitrary audits can cripple companies overnight. More alarming is the anti-corruption watchdog's power to detain individuals without legal oversight, Xiao said, pointing out that Wang was reportedly held incommunicado, with no legal representation—a process designed to extract confessions and map 'interest networks,' effectively turning suspects into pawns in political purges. According to Xiao, many of the companies that collapsed operated on trust-dependent models with prepayments, chain financing, and personal guarantees. When that trust evaporates, the system implodes. In the case of Liangjiaju Building Materials, its customers demanded refunds, suppliers protested, and employees fled. He said that, unlike in the United States or Europe, Chinese law lacks meaningful bankruptcy protection for private businesses. Most reorganization cases are rejected by courts, particularly for asset-light firms. Once a firm collapses, the founder's personal and financial freedoms vanish. They're blacklisted, surveilled, and ostracized, with no option for a second chance. Many see suicide as the only 'honorable' way to resolve unpayable debt, Xiao said. Each entrepreneur's suicide was censored from trending on Chinese social media for at least 24 hours, showing the regime's tight control over public narratives. Xiao observed online discourse in China, and Zeng's death was seen as the failure of 'doing business with integrity.' Despite his efforts to complete pending projects, he was overwhelmed by creditors. His story illustrates how easily trust can be weaponized in today's China and how quickly a person's reputation can collapse, Xiao said. In Wang's case, the public speculated that he may have disclosed sensitive information about collusion between local officials and business figures during his detention. China's opaque justice system is often marked by the lack of legal counsel, secret detention, and forced confessions. Wang's high-profile fall has become a cautionary tale of what happens when business collides with political danger, according to Xiao. Xiao believes that the deaths of Bi, Liu, Zeng, and Wang are not isolated tragedies. They represent the mounting pressure bearing down on China's private entrepreneurs who are caught between shrinking markets, policy unpredictability, financial exclusion, and a collapsing social contract, he said. In today's China, the greater crisis may not be an economic slowdown, but the collapse of faith in the system itself, according to Xiao.

Arab Bank named "Middle East Winner" at The Banker's Technology Awards 2025
Arab Bank named "Middle East Winner" at The Banker's Technology Awards 2025

Biz Bahrain

time4 days ago

  • Biz Bahrain

Arab Bank named "Middle East Winner" at The Banker's Technology Awards 2025

The Banker magazine, owned by the Financial Times and based in London, named Arab Bank the 'Middle East winner' at The Banker's Technology Awards 2025, a recognition that celebrates excellence in financial innovation. The awards recognise the most innovative banks across the world for their digital banking initiatives that demonstrate creativity, measurable impact, and set new benchmarks for the fintech industry. Arab Bank was selected for this award following a comprehensive evaluation process by both internal and external judging panels. The selection was based on several key criteria, including the bank's local and regional impact, measurable performance results, and the bank's innovative approach to developing products and delivering tailored digital solutions that address evolving customers needs. This recognition comes as a result of Arab Bank's continuous efforts to offer the latest and most innovative digital banking services and solutions that caters to customer needs across the different sectors and markets. It also highlights the bank's vision for digital transformation and its continuous commitment to staying at the forefront of developments in the digital banking industry, contributing to the advancement of banking products and services. It's worth noting that The Banker Magazine, owned by the Financial Times and based in London, named Arab Bank as 'Bank of the Year in the Middle East for 2024'. Arab Bank also received the 'Best Bank in the Middle East 2025' award by New York-based international publication 'Global Finance', in addition to 24 local and regional awards in recognition of its corporate and consumer digital banking services in Jordan and across Middle East markets.

Appeals Court Allows BD20,000 Gulf Verdict To Take Effect
Appeals Court Allows BD20,000 Gulf Verdict To Take Effect

Gulf Insider

time4 days ago

  • Gulf Insider

Appeals Court Allows BD20,000 Gulf Verdict To Take Effect

The Supreme Civil Appeals Court has ruled that a BD20,000 judgment issued by a court in a Gulf country in a commercial dispute is enforceable in Bahrain. The decision came in response to a case filed by a Gulf-based businessman against a local contracting company over unpaid commercial transactions. The court overturned an earlier lower court ruling that had rejected the enforcement request on the grounds that the foreign judgment was not final. However, appeals judges found the ruling to be conclusive and binding, as the appeal window had passed. Lawyer Abrar Bukheet, representing the claimant, said her client had initially filed the case in his home country after a business dispute with the Bahraini company's owner. The foreign court ordered the defendant to pay nearly BD20,000 in penalties and outstanding dues. A retrial request was denied, prompting the claimant to seek enforcement through Bahrain's courts. The appeals court cited Bahrain's Civil and Commercial Execution Law, which allows enforcement of foreign judgments under reciprocal terms— provided certain conditions are met. These include confirming that Bahraini courts had no jurisdiction over the case, that due process was followed, the ruling was final, and it did not conflict with any previous Bahraini judgment. The court confirmed that the Gulf ruling met all requirements, including carrying the executory formula and the authority of res judicata. It accepted the appeal, overturned the lower court's decision, and approved enforcement of the foreign judgment within the Kingdom.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store