DHG Properties
DHG Properties
The project will include approximately 100 apartments across 11 floors
DHG Properties
DHG Properties said the strong sales performance is supported by the sustained investor confidence in Dubai's off-plan sector DHG Properties
DHG Properties launches second residential project in Meydan as it expands Dubai portfolio DHG Properties
Helvetia Residences to feature European-inspired kitchens, state-of-the-art acoustic systems, and luxurious finishes DHG Properties
UAE residential real estate is boosted by the commercial real estate sector says DHG Properties DHG Properties
The contract is valued at AED250 million DHG Properties
Helvetia Residences is a 430-unit project situated in Jumeirah Village Circle (JVC) which entails world-class architecture DHG Properties
The Swiss developer is also looking to foray into the high-in demand commercial sector in Dubai, besides spreading its wings farther in the region with projects in few other GCC markets DHG Properties
The company's flagship development is to be launched in Jumeirah Village Circle (JVC), one of the upcoming and most popular areas in the city DHG Properties
This off-plan residential development aims to provide an attractive and affordable housing option for both investors and end-users DHG Properties
Dubai property market is forecasted to reach AED300 billion in sales by end of 2023
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6 hours ago
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US announces pick for NATO's next Supreme Allied Commander
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Arabian Post
7 hours ago
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A sordid tale of the Blackstone IPO and a jailed NRI private bankster!
Matein Khalid I have had a neurological soft corner for Wall Street's alternative asset manager stocks ever since I resisted the come hither importunings of multiple Morgan Stanley (MS) managing directors before the firm sold its private wealth division in the DIFC to Credit Suisse. Everyone of these MS honchos wanted me to subscribe to the Blackstone IPO in the summer of 2007 at $32. They assured me that the biggest institutional investors in the UAE had all subscribed to the IPO and I was even excluded from a dinner with Stephen Schwartzmann, Blacktone's founder and chairman, since I refused to give MS an order for a $50 million IPO bid. By the summer of 2007, I was convinced that the world was headed into a traumatic global recession and even published an article in English which would have saved my fellow Dubai investors billions of dollars had they bothered to read it for free in the Khaleej Times as far back as January 2007. This article accurately predicted the global financial meltdown a year before it happened and is uploaded above. ADVERTISEMENT Naturally, these Morgan Stanley private bankers despite their fancy titles of MD, Imperial Wizards, King of Kings and Chief Concubine were clueless about the nuances of the global capital markets. I have learnt the hard way that the private banking and wealth business in the Middle East is really the blind leading the blind to the slaughterhouse, invariably with high octane leverage and absurdly high fees for the privileges of helping you gut your financial net-worth in the capital markets they barely understand. I sealed my unpopularity with Morgan Stanely's pinstriped bureaucrats in Dubai when I wrote successive articles, listing myriad reasons why I wanted to short both Morgan Stanley and Blackstone at 32. History or a cursory look at your smartphone will record that MS almost failed in the post Lehman Wall Street panic and the Blackstone IPO plunged from 32 to 4. To compound the insult that Dubai's top NRI investors faced as they haemorrhaged money on the advice of the MS clowns, the top Indian broker on the MS bench (Manoj Prasad) was jailed for fraud, money laundering and trying to bribe a CBI officer in India. So much for Wall Street/Swiss due diligence/ethics when it comes time to fleece the leveraged NRI lambs in the Gulf. My readers know I wrote successive columns in the UAE/British media recommending investors buy Blackstone (BX) shares at 10-12 when the distribution yield was 9%. I even recommended in writing to the chairman of the royal investment office where I was CIO not to allocate $25 million to Abraaj Capital for a board seat that meant squat at 3.5X book value when he could invest in Blackstone at $10 a share, way below book value. That $25 million went to money heaven when Abraaj failed in 2018 after Arif Naqvi's criminal fraud. Blackstone shares I recommended rose from $10 in 2010 to as high as $200. So that $25 million in Abraaj's eternal money heaven would be valued at $500 million if my poor chairman who had never heard of Steve Schwarzman but Magu, our Group CFO, a Karachi accountant, was dazzled by the intellectual brilliance of Arif Naqvi, the Gulf media's financier of the millennium. Moral of the story? If you think Wharton is expensive, try ignorance! Blackstone is now the planet's biggest alt asset manager with $1.2 trillion AUM and is valued at $167 billion on the NYSE. I am a nervous long at $136 since I believe the US private credit market will be gutted in a recession that is now inevitable in Q3, the reason why I went long up the wazoo on TLT at 84 as I expect JayPo to capitulate on rate cuts at the September FOMC. I want to exit my BX long via a covered call strategy before July 4th, our Independence Day. I am pretty sure I will be able to buy BX below 100 when the macro wolf finally swallows Grandma Goldilocks. We saw this movie before in the autumn of 2008 ADVERTISEMENT Also published on Medium. Notice an issue? Arabian Post strives to deliver the most accurate and reliable information to its readers. If you believe you have identified an error or inconsistency in this article, please don't hesitate to contact our editorial team at editor[at]thearabianpost[dot]com. We are committed to promptly addressing any concerns and ensuring the highest level of journalistic integrity.
Middle East Eye
9 hours ago
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Arab states received 12 percent of Israeli arms exports in 2024 amid surge in arms sales
Israel's Ministry of Defence announced on Wednesday that arms exports by Israeli companies reached an all-time high in 2024, totalling $14.8bn. 'The unprecedented operational achievements, combined with the combat experience gained through Israeli-developed technologies during the war, have generated significant demand for Israeli defence systems among numerous countries,' the ministry stated, attributing the surge in exports to the ongoing military offensive on Gaza, which began in October 2023. According to TheMarker, arms exports rose by 13 percent compared to 2023, when exports stood at $13.1 billion. The 2024 figure represents roughly 10 percent of Israel's total exports of goods and services, according to data published by the outlet. This marks a record year for Israeli arms exports, which have more than doubled over the past five years; in 2019, total exports amounted to $7.3bn. Europe emerged as the primary destination for Israeli arms, accounting for 54 percent of total purchases – up nearly 20 percentage points from 2023, when European countries made up 35 percent of Israel's arms export market. New MEE newsletter: Jerusalem Dispatch Sign up to get the latest insights and analysis on Israel-Palestine, alongside Turkey Unpacked and other MEE newsletters In 2024, European states bought nearly $8bn worth of Israeli military products, compared to $4.6bn in 2023, according to the Ministry of Defence. Beyond Europe, another significant destination for Israeli arms in 2024 was the group of countries that normalised relations with Israel under the Abraham Accords. Combined arms sales to the United Arab Emirates, Bahrain, Morocco and Sudan reached $1.8bn – equivalent to 12 percent of Israel's total arms exports. In contrast, there has been a marked decline in exports to Asian and Latin American countries. In 2024, Asian nations purchased $3.4bn worth of Israeli weapons, down from $6.3bn the previous year. According to TheMarker, the drop is attributed to major arms deals signed in 2023 with India and Azerbaijan that were not repeated in 2024. The surge in arms exports comes amid Israel's ongoing military campaign in Gaza, now approaching its 20th month, which has resulted in the deaths of over 54,000 Palestinians and destroyed most of the Palestinian enclave. In recent months, Israel has faced mounting international criticism – particularly from European partners – over Gaza, including allegations of using starvation as a weapon of war and of committing genocide. Israel opposition leader says Netanyahu arming 'equivalent of Isis' gangs in Gaza Read More » A recent survey conducted in the UK found that a majority of the British public supports a full arms embargo on Israel. According to the poll, 57 percent of respondents backed a government-imposed embargo, while only 13 percent were opposed. On Tuesday, it was reported that the Spanish government had cancelled a $327m arms deal with Israeli defence company Rafael. The contract involved the purchase of offensive weaponry, including 168 firing posts and 1,680 anti-tank missiles. Yair Coles, head of the International Defense Cooperation Directorate, the Ministry of Defence division overseeing Israeli arms exports, told Israeli news outlet Ynet: 'We are facing a serious challenge. Members of parliament are openly calling for a halt to arms purchases from Israel because of the images coming out of Gaza, and this is having an effect. Today, customers are telling us this directly.' Coles added: 'Sales to France and the UK are very low. Two forces are currently at work: military establishments that want to buy the best equipment from us, and political forces holding back. I hope that necessity will prevail over politics.' A national achievement According to defence ministry data, nearly half (48 percent) of Israel's arms exports consist of air defence systems, missiles and rockets. Other categories, including military and armoured vehicles, radar systems, manned aircraft and satellites, each account for between 8 and 9 percent of total exports. Israeli human rights lawyer and arms trade monitor Eitay Mack told TheMarker that Israeli arms exports could rise further in 2025. 'Due to escalating tensions between India and Pakistan, we may see a spike in arms deals with India,' Mack said. 'Additionally, the effects of the increased security budgets in Europe – driven by shifting relations with the United States – will likely be felt only in 2025.' 'The world sees Israel's strength and wants to be part of it' - Israel Katz, Defence Minister However, Mack cautioned that some countries may shift away from Israeli weapons in favour of American arms as part of efforts to improve trade balances with the United States. 'In the context of the tariff war declared by [US President Donald] Trump, some countries may prefer to buy from the US rather than from Israel,' he added. Defence Minister Israel Katz praised the export figures, calling them a national achievement. 'In a year of war, under complex and difficult conditions, Israel has broken its all-time arms export record,' Katz said. He attributed the success to Israel's battlefield performance: 'This is a direct result of the IDF's and defence industries' achievements against Hamas in Gaza, Hezbollah in Lebanon, the Houthis in Yemen, the Ayatollahs' regime in Iran, and other enemies.' Katz added, 'The world sees Israel's strength and wants to be part of it.' Defence Ministry Director General Amir Baram echoed the sentiment. 'Israeli arms exports reflect, more than anything, a growing global appreciation for Israeli technology. Our systems have made a resounding impact across the Middle East over the past year,' he said. Coles also credited the collaboration between the defence sector and the military. 'The unique link between Israeli arms companies, the Ministry of Defence, and the IDF creates a distinct competitive edge in global markets,' he said. According to Coles, during the war in Gaza, Israel's defence industries demonstrated that they could 'meet the IDF's operational needs while simultaneously responding to growing international demand'.
