Latest news with #AlHassawi
Yahoo
3 days ago
- Business
- Yahoo
Arab businesswoman sells Knightsbridge mansion for £28m
A Kuwaiti property tycoon has sold a £28m Knightsbridge mansion in what is thought to be the biggest London home sale so far this year. Fawziah Mubarak Al-Hassawi sold the 11-bedroom Princes Gate town-house overlooking Hyde Park to a Middle Eastern property billionaire, The Telegraph understands. The mansion last changed hands for £32.5m in 2019, according to public documents, and sold below its £30m asking price in the latest transaction. It comes amid a difficult period for the London property market, particularly at the top. Eighty-two per cent of prime London houses sold below their asking prices during the first three months of this year, according to Coutts. Stuart Bailey, at Knight Frank, which advised on the sale, said: 'London is good value, and international buyers, especially those that are property-savvy, are well aware and doing deals. This shows the mid to long-term security of London real estate thankfully beats short-term politicians every time.' The sale of Princes Gate is seen as a benchmark-setting deal for the top end of the market and may help to unlock other sales. The property features a large swimming pool, vaults, an industrial kitchen and two lifts. Measuring 16,000 sq ft, the town-house is located close to Harrods and the museums of South Kensington. Built in the late 1840s, the mansion was initially occupied by a railway developer followed by a succession of wealthy bankers and their families from the 1850s to 1941. Those included Robert Cooper Lee Bevan, who was influential in the development of Barclays Bank in the 19th century. Between 1949 and 1987, the house was the headquarters of the Royal School of Needlework, before it was refurbished as a single residence in the mid-1990s. Roly Ingleby-MacKenzie, head of Knightsbridge sales at Knight Frank, said: 'Given the turbulence in the market over the past 12 months, it is fantastic to see confidence returning, with buyers recognising London as a prime investment opportunity, especially at the top end.' Ms Al Hassawi is the daughter of the late Mubarak Al Hassawi, a Middle Eastern tycoon thought to be the first Kuwaiti national to build commercial and residential complexes in the country, taking advantage of a property boom in the 1950s. After he died in 2005, Ms Al Hassawi set up the Fawziah Mubarak Al Hassawi Group (FMH Group), which oversees £800m of developments in the UK, Germany and Spain. Al Mubarakia, its European arm, also owns and manages £300m-worth of properties around the world. This includes a 16th century castle in Baden-Baden, Germany, which was previously home to the margraves of Baden and now being turned into a five-star Hyatt hotel. Among the properties owned by Al Mubarakia in the UK is the historic Tobacco Dock in Wapping, east London. Representatives for Al Mubarakia were contacted for comment. Broaden your horizons with award-winning British journalism. Try The Telegraph free for 1 month with unlimited access to our award-winning website, exclusive app, money-saving offers and more. Fehler beim Abrufen der Daten Melden Sie sich an, um Ihr Portfolio aufzurufen. Fehler beim Abrufen der Daten Fehler beim Abrufen der Daten Fehler beim Abrufen der Daten Fehler beim Abrufen der Daten
Gulf Business
06-05-2025
- Business
- Gulf Business
Du Q1 profit jumps 19.8% on strong revenue growth, margin expansion
Image: Getty Images Emirates Integrated Telecommunications Company (du) reported its first-quarter results for 2025, with strong growth across revenues, margins and profitability, driven by performance across both service and non-service segments. Total revenues rose 7.4 per cent year-on-year to Dhs3.8bn, while EBITDA surged 15 per cent to Dhs1.8bn, resulting in a margin of 47.4 per cent. The company said the growth was underpinned by an improved revenue mix and cost efficiency measures. Net profit rose 19.8 per cent to Dhs722m, with a net margin of 18.8 per cent. The company cited disciplined execution of strategy, positive interest results and strong operational performance as key contributors. Good start to the year: du CEO 'We started the year with a very strong first quarter, delivering growth across all key financial metrics and making meaningful progress on our strategy to diversify revenue streams, as witnessed by the strategic partnership with Microsoft to develop a hyperscale 'The resilient UAE environment coupled with the quality of our offerings and our ability to respond to evolving customer needs contributed to the solid growth in our subscriber base, with our mobile base now exceeding the 9 million mark and our revenues witnessing a remarkable 7.4 per cent growth,' he added. Al Hassawi said the company achieved 'strong margin expansion' as EBITDA margin rose to 47.4 per cent and reiterated full-year guidance, citing confidence in continued momentum. He noted the company's balance sheet remains robust, supported by strong cash generation and normalisation of capital expenditure. Revenues on the rise Mobile service revenues rose 7.4 per cent year-on-year to Dhs1.7bn, supported by a growing customer base and higher ARPU through improved product mix and personalised offerings. Fixed service revenues climbed 10.2 per cent to Dhs1.1bn, attributed to rising fibre penetration and the success of home wireless and enterprise connectivity solutions. Other revenues grew 4.8 per cent to Dhs1.1bn, led by expansion in ICT and higher inbound roaming and interconnection revenues. Lower handset sales, due to a high comparison base from Q1 2024, partly offset the gains. Capex for the quarter stood at Dhs377m, slightly up from Dhs359m a year earlier, representing a capex intensity of 9.8 per cent. The company said it remains focused on 5G densification, fibre expansion and ICT development, along with IT system transformation to enhance network quality and customer experience. Operating free cash flow increased 17.9 per cent to Dhs1.4bn, driven by strong EBITDA growth. At a glance Dhs million Q1 2025 Q1 2024 Change Revenues 3,848 3,581 7.4% Service revenues 2,780 2,563 8.5% Other revenues 1,067 1,018 4.8% EBITDA 1,824 1,586 15% EBITDA Margin (%) 47.4% 44.3% +3.1pp Net profit 722 603 19.8% Capex 377 359 5% Capital intensity (%) 9.8% 10.0% -0.2pp Operating Free Cash Flow 1,447 1,228 17.9%
Al Bawaba
13-03-2025
- Business
- Al Bawaba
du launches Microsoft 365 Copilot for enhanced workplace efficiency
du, the leading telecom and digital services provider, today announced the internal launch of Microsoft 365 Copilot in a move to elevate workplace productivity in line with the national vision for AI adoption. The launch is set to empower du employees with state-of-the-art AI tools designed to foster better collaboration, streamline processes, and boost overall collaboration with Microsoft highlights the strategic importance of this technological adoption, and it is a crucial step in modernizing the workplace with AI-powered tools that are poised to redefine the standards of operational excellence and innovation within the telecommunications sector. As part of the first phase, du has commenced testing Microsoft 365 Copilot on a select group of Al Hassawi, Chief Executive Officer at du said: "Our collaboration with Microsoft to integrate Copilot is a testament to our commitment to not only embracing digital transformation but also ensuring our team has access to the leading tools that enhance productivity and creativity. By embedding AI capabilities into our daily operations, we are setting a new benchmark for efficiency and employee empowerment, ultimately benefiting our customers through exceptional service delivery."Naim Yazbeck, General Manager of Microsoft UAE, said: 'du's Copilot adoption is a key step towards AI-driven innovation. Deploying Microsoft 365 Copilot showcases our shared vision for transforming workplace productivity and customer experiences. With Copilot, du is streamlining workflows and enabling employees to focus on high-value tasks and innovation.'The AI market is expected to reach a market volume of $4.285 billion by 2030. This underscores the immense potential and value that integrating AI technologies into business operations can bring, particularly in sectors poised for modernization and efficiency enhancements such as telecommunications. du is optimizing its operational capabilities by leveraging AI and advanced technology through the integration of Microsoft 365 Copilot. The adoption aligns with industry-wide transformation and paves the way for du to become an AI-native telco, leveraging AI's potential to drive innovation and boost operational efficiency. This initiative is expected to bring about a significant reduction in manual workloads, allow for faster task completion, real-time insights for better decision-making, and enhanced collaboration across the board. © 2000 - 2025 Al Bawaba ( Signal PressWire is the world's largest independent Middle East PR distribution service.
Al Bawaba
30-01-2025
- Business
- Al Bawaba
du tops global and regional rankings in Culture and Employee Engagement Survey 2024
du, the leading telecom and digital services provider, today announced its performance in the annual Culture & Employee Engagement survey conducted by Microsoft Viva Glint. Demonstrating a year of several milestones, du achieved an impressive overall score of 85, and an 81% ranking line with its efforts to nurture a collaborative work environment, du's progressive strategies have yielded a significant improvement over the past three years. Today, du ranks in the top 25% of technology sector performers globally and within the top 10% across all industries Al Hassawi, CEO at du said: "Surpassing the top 10% worldwide, and confirming du's position as a frontrunner in the MENA region highlights our core values and commitment to creating a vibrant and inclusive workplace culture that contributes to the UAE's national vision. Our exceptional positioning across industries, surpassing the Middle East industry average of 79 and setting even higher benchmarks within the UAE is supported by our innovative approach to employee engagement and corporate culture. At the core of our market-leading presence in the UAE telecom sector is our belief that the engagement of employees drives organizational performance. The principle of enhanced employee involvement is important to our success and enables us to add 'life to life' for our customers through our innovative products, technologies, and services."du's commitment to an open, transparent, and connected working environment has led to multiple initiatives and internal activities to promote a sense of belonging and active participation among employees. From career development programs to workshops, du ensures that each team member feels valued, heard, and engaged in the organization's vision and successes. © 2000 - 2025 Al Bawaba ( Signal PressWire is the world's largest independent Middle East PR distribution service.
