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Shamal announces Nad Al Sheba Gardens Mall bringing a new retail and lifestyle experience to the community
- Nad Al Sheba Gardens welcomes a new addition to the community with a new mall that will include high-quality retailers
- Mall to act as a central meeting point featuring restaurants, a nursery, and health and fitness amenities
- Waitrose, a renowned premium British supermarket brand licensed by Spinneys in the UAE, will be an anchor store, further widening its local presence
DUBAI, UAE, Oct. 30, 2024 /PRNewswire/ — Shamal – a diversified investment firm, born in Dubai, managing a global portfolio of investments, assets and experiences, has announced plans for Nad Al Sheba Gardens Mall, bringing a new retail and lifestyle offering to community residents at its new Nad Al Sheba Gardens residential development.
Nestled just ten minutes from Downtown Dubai and within easy reach of areas including DIFC, Business Bay, and Meydan, Nad Al Sheba Gardens, owned by Shamal and developed by Meraas, is a new gated community that stands out as one of Dubai’s most desirable locations, thanks to its serene greenery and premium lifestyle experiences.
This 1.5 million m² residential community offers stunning, contemporary three-to-seven-bedroom villas, and townhouses in a carefully curated environment. It includes a wide range of amenities for leisure, fitness and relaxation, as well as a state-of-the-art education campus, all designed for residents to enjoy an elevated standard of living. Lush, green landscapes give way to sparkling lagoons, connected by walkable roads, cycling and running tracks and pathways meandering through the greenery, with the essence of the community evident at every turn.
The Nad Al Sheba Gardens Mall will be set over two storeys and designed as a pavilion gateway to the extensive landscaping of the Nad Al Sheba Gardens masterplan – it is part of an overall enhancement of the development, its amenities and infrastructure, and will feature a variety of retail options, F&B outlets, a nursery, and health and fitness amenities. Waitrose, the renowned premium British supermarket brand licensed by Spinneys in the UAE, will serve as the anchor store.
“Nad Al Sheba Gardens is an extraordinary living experience, designed as a calm yet vibrant environment which allows residents to find a ‘sense of belonging’. It is a tangible manifestation of the UAE’s ambition to be the best place to live, and a place where people find their forever home,” said Abdulla Binhabtoor, CEO at Shamal. “The development has been considerately curated to offer an unmatched contemporary lifestyle which includes access to the best amenities. The new mall will perfectly serve the community, acting as a central meeting point for residents to create and build meaningful connections, which is a core ethos of Nad Al Sheba Gardens.”
Sunil Kumar, CEO of Spinneys, commented: “We are delighted to continue our growth in the UAE with the planned opening of a new Waitrose store at Nad Al Sheba Gardens Mall. As one of the leading fresh-focused food retailers in the UAE, this latest expansion is another important step in the execution of our whitespace strategy, enhancing our presence in key locations across the country. Waitrose at Gardens Mall will bring the best of British and international produce to the community, offering a premium shopping experience.”
Built with materials that will allow it to sit harmoniously within the landscape and featuring a natural colour palette, the mall’s architecture will integrate with the landscaped parking and surrounding parks, enabling a seamless transition between indoor and outdoor spaces. The light steel roof, supported by vertical columns, enhances the open, airy ambience, and shaded colonnades, whilst indirect natural light adds to the tranquility.
Dennis Vermonden, Associate at Loci Architecture and Design said: “The thoughtfully considered design and construction of Nad Al Sheba Gardens Mall perfectly reflects its serene, tranquil surroundings, capitalising on the beautifully landscaped environment. Minimalist yet contemporary, the sympathetically selected build materials enable the mall to effortlessly integrate with the wider master development, while remaining a centrepiece of the community.”
About Nad Al Sheba Gardens
Nad Al Sheba Gardens is a new gated residential community in the Nad Al Sheba area, which is owned by Shamal and developed by Meraas. Nad Al Sheba Gardens is centrally located within easy reach of iconic landmarks including Burj Khalifa, Meydan Racetrack and The Dubai Mall. The masterplan boasts a 1.5 million m² residential community offering stunning, contemporary three-to-seven-bedroom homes in a carefully curated environment that includes everything residents will need to enjoy an elevated standard of living, from a wide range of amenities for leisure, fitness and relaxation, to a state-of-the-art education campus. Lush, green landscapes give way to sparkling lagoons, connected by walkable roads, cycling and running tracks and pathways meandering through the greenery, with the essence of the community evident at every turn. Designed to offer true legacy living, Nad Al Sheba Gardens is a sanctuary of ambition and purpose, offering an unmatched contemporary lifestyle for its residents.
About Shamal
Born in Dubai, Shamal is a diversified investment firm, managing a global portfolio of investments, assets and experiences. The investments we make are strategically chosen and thoughtfully nurtured, mirroring Dubai’s ambition, spirit and energy.
Our real estate portfolio spans master communities, districts, residences, retail hubs and commercial spaces, we help realise potential, delivering unique developments such as Dubai Harbour and Nad Al Sheba Gardens. We invest in a range of properties, franchises and operations across the hospitality sector from luxury, premium and affordable experiences, with extraordinary domestic and international brands as diverse as Jumeirah Zabeel Saray, Hart Shoreditch Hotel London, Baccarat Hotel & Residences Dubai, SUSHISAMBA and Five Guys. As the owning company of some of Dubai’s most unique and iconic leisure and entertainment destinations, we curate extraordinary experiences every day. We also partner with best-in-class asset managers to manage a globally diversified investment portfolio.
About Meraas
Meraas plays a key role in the development of communities that stimulate creative urban culture and represent some of Dubai’s most sought-after locations. Residential communities of Meraas include the prestigious Bvlgari Residences, Bluewaters Residences, Nikki Beach Residences, City Walk Residences, Central Park at City Walk, Cherrywoods, Port de La Mer, Villa Amalfi, 1/JBR, La Vie and others.
About Spinneys & Waitrose UAE
Spinneys’ UAE story started in 1961 when the first supermarket opened in Al Nasr Square. It has since grown to be one of the leading premium supermarket retailers in the UAE, with 79 stores (including Waitrose) across the UAE, Oman and Saudi Arabia. The first Waitrose store opened in the iconic Dubai Mall in 2009. Much loved by expats and locals in the region, Waitrose UAE enjoys a well-deserved reputation for forward thinking, keeping pace with changes in cooking trends and the emergence of new products worldwide. Today the group’s supermarkets have built a strong name for supplying top-quality produce and offering an elevated level of customer service. Food quality, safety and freshness have always been at the forefront of the company’s ethos.
About Loci
Established by Hani Fallaha and Hamad Khoory in 2012, a culturally driven design-led studio believes in the importance of context and the power of the locus to inform its design process and architecture.
Combining a clear and elegant vision of pure rational form and spatial quality, we seek to instill in every aspect of our work an uncompromising dedication to quality. Functionality, durability and comfort are prime components within an architectural language that is aesthetic but resists fashion and trends, employing where possible locally sourced materials and products. We seek to produce architecture that increases the quality of life for the occupant and end-user, that is timeless and environmentally sensitive.
Photo – https://mma.prnewswire.com/media/2544316/Shamal_NASG_Mall.jpg
View original content:https://www.prnewswire.co.uk/news-releases/shamal-announces-nad-al-sheba-gardens-mall-bringing-a-new-retail-and-lifestyle-experience-to-the-community-302291327.html
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Redefining Financial Frontiers: Nucleus Software Celebrates 30 Years with Synapse 2024 in Singapore
SINGAPORE, Nov. 23, 2024 /PRNewswire/ — The thriving India–Singapore partnership in banking and technology reached a new milestone as Nucleus Software celebrated 30 years of transformative innovation at Synapse 2024, held in Singapore. The event underscored the company’s role in redefining financial services across Southeast Asia (SEA) and the globe, bringing together leaders in finance and technology to explore a shared vision for the future of banking.
Synapse 2024 celebrated 30 years of Nucleus Software’s leadership in driving transformative change across Singapore and Southeast Asia’s financial ecosystem. The event also shone a spotlight on the Global Finance & Technology Network (GFTN), an initiative supported by the Monetary Authority of Singapore (MAS) to champion responsible technology adoption. The event highlighted the deepening synergies between India and Singapore, driven by their shared commitment to innovation, cross-border collaboration, and financial inclusion. As the financial services sector undergoes rapid evolution with advancements in artificial intelligence, blockchain, and digital banking, these partnerships are setting the stage for a more connected, resilient, and inclusive global ecosystem.
Vishnu R. Dusad, Co-founder and Managing Director of Nucleus Software, reflected on the milestone: “For over 30 years, we’ve had the privilege of aligning our journey with Singapore’s ascent as a global financial powerhouse. Back in 1994, when we chose to go East instead of West, it was a bold and emotional decision—guided by our belief in Singapore as a hub for innovation and collaboration. We saw then what remains true today: Singapore is at the heart of the global financial landscape, a place where new ideas take root, and partnerships thrive.”
The event brought together a distinguished array of participants, highlighting the transformative potential of India–Singapore collaboration. Mr. Piyush Gupta, CEO of DBS Group and the Guest of Honor, set the tone for the event with his opening remarks, emphasizing the transformative role of big tech in reimagining scalable, customer-centric financial services in the digital age.
Following his address, key speakers enriched the discussions with their insights. Mr. Sopnendu Mohanty, Chief Fintech Officer at the Monetary Authority of Singapore and Group CEO-Designate of The Global Finance & Technology Network (GFTN), underlined the importance of fostering responsible technology adoption and building inclusive financial ecosystems. Mr. Vinod Rai, globally respected public policy expert, Distinguished Visiting Research Fellow at the National University of Singapore, and former Comptroller and Auditor General of India, shared his perspectives on governance and policy frameworks in financial systems. Mr. S.M. Acharya, Chairman of Nucleus Software and former Defence Secretary of India, offered a visionary outlook on leveraging technology to modernize and secure banking frameworks. Finally, Mr. Pieter Franken, Co-founder and Director of GFTN (Japan), a global FinTech pioneer and deep tech innovator, discussed the future of decentralized finance and its implications for the financial sector.
The event showcased the transformative role of technology in global financial systems, emphasizing innovations that set benchmarks for scalability and inclusivity. Panelists discussed the importance of localized solutions, the challenges of cross-border integration, and leveraging dual business models to optimize capital and foster public participation. The dialogue highlighted the need for common standards, unified frameworks like APIs, and collaborative efforts to accelerate financial inclusion and drive global connectivity in the digital age.
For 30 years, Nucleus Software has consistently introduced advanced lending and banking solutions that support financial institutions’ evolving needs in Singapore and South East Asia. Driven by lean development methodologies like Acceptance Test-Driven Development (ATDD) and Continuous Integration/Continuous Delivery (CICD), Nucleus Software continues to push boundaries in efficient, flexible, and secure financial technology.
Photo: https://mma.prnewswire.com/media/2565374/Synapse_2024.jpg
Logo: https://mma.prnewswire.com/media/2565373/Nucleus_Software_Logo.jpg
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OTTAWA, ON, Nov. 22, 2024 /PRNewswire/ — The Royal Canadian Mint (the “Mint”) announces its financial results for the third quarter of 2024 that provide insight into its activities, the markets influencing its businesses and its expectations for the next 12 months.
“As the markets continue to change, the Mint is proving its ability to seize on new opportunities thanks to its diversified structure and flexible business strategy” said Marie Lemay, President and CEO of the Royal Canadian Mint.
The financial results should be read in conjunction with the Mint’s annual report available at www.mint.ca . All monetary amounts are expressed in Canadian dollars, unless otherwise indicated.
Financial and Operational Highlights
- The financial results for the third quarter of 2024 were ahead of target and higher than 2023 levels. Higher gold market pricing and foreign circulation volumes combined with lower fixed costs were the main drivers for the quarter over quarter increase. These increases were partially offset by lower than expected bullion volumes from the continued soft demand in the global bullion market. The Mint expects to meet its financial goals for 2024, as set out in its 2024-2028 Corporate Plan, the Mint’s Leadership team continues to actively monitor its status.
- Consolidated revenue decreased to $252.7 million in 2024 (2023 – $360.6 million).
Revenue from the Precious Metals business decreased to $217.6 million in 2024
(2023 – $328.4 million):- Gold bullion volumes decreased 38% quarter over quarter to 106.1 thousand ounces (2023 – 170.1 thousand ounces) while silver bullion volumes decreased 20% to 2.7 million ounces (2023 – 3.4 million ounces).
- Gold and silver market prices increased quarter over quarter by 27% and 23%, respectively.
- Sales of numismatic products decreased 12% quarter over quarter mainly due to the high demand in 2023 for the Queen Elizabeth II’s Reign products.
- Revenue from the Circulation business increased to $35.1 million in 2024
(2023 – $32.2 million):- Revenue from the Foreign Circulation business increased 77% quarter over quarter, a reflection of higher volumes produced and shipped in 2024 as compared to 2023.
- Revenue from Canadian coin circulation products and services decreased 12% quarter over quarter as fewer coins were required to replenish inventories, combined with lower program fees in accordance with the memorandum of understanding with the Department of Finance.
- Overall, operating expenses decreased 27% quarter over quarter to $28.3 million (2023 – $36.0 million) mainly due to planned reductions in consulting and workforce expenses.
Consolidated results and financial performance
(in millions)
|
13 weeks ended |
39 weeks ended |
|||||||||||
|
Change |
Change |
|||||||||||
|
September |
September |
$ |
% |
September |
September 30, 2023 |
$ |
% |
|||||
|
Revenue |
$ |
252.7 |
$ 360.6 |
(107.9) |
(30) |
$ 861.2 |
$ 1,841.8 |
(980.6) |
(53) |
|||
|
Profit (loss) for the period |
$ |
5.7 |
$ (5.8) |
11.5 |
(198) |
$ 24.1 |
$ 15.0 |
9.1 |
61 |
|||
|
Profit (loss) before |
$ |
1.4 |
$ (8.7) |
10.1 |
(116) |
$ 12.3 |
$ 23.4 |
(11.1) |
(47) |
|||
|
Profit (loss) before |
0.6 % |
(2.4) % |
1.4 % |
1.3 % |
||||||||
|
(1) Profit (loss) before income tax and other items is a non-GAAP financial measure. A reconciliation from profit for the period to profit before income tax and other items is included on page 13 of the Mint’s 2024 Third Quarter Report. |
|
(2) Profit (loss) before income tax and other items margin is a non-GAAP financial measure and its calculation is based on profit before income tax and other items. |
|
As at |
||||||||||
|
September 28, 2024 |
December 31, 2023 |
$ Change |
% Change |
|||||||
|
Cash |
$ |
58.4 |
$ |
59.8 |
(1.4) |
(2) |
||||
|
Inventories |
$ |
71.5 |
$ |
68.8 |
2.7 |
4 |
||||
|
Capital assets |
$ |
174.2 |
$ |
173.0 |
1.2 |
1 |
||||
|
Total assets |
$ |
376.8 |
$ |
380.4 |
(3.6) |
(1) |
||||
|
Working capital |
$ |
99.2 |
$ |
97.8 |
1.4 |
1 |
||||
As part of its enterprise risk management program, the Mint continues to actively monitor its global supply chain and logistics networks in support of its continued operations. Despite its best efforts, the Mint expects changes in the macro-economic environment and other external events around the globe to continue to impact its performance in 2024. The Mint continues to mitigate potential risks as they arise through its enterprise risk management process.
To read more of the Mint’s Third Quarter Report for 2024, please visit www.mint.ca.
About the Royal Canadian Mint
The Royal Canadian Mint is the Crown corporation responsible for the minting and distribution of Canada’s circulation coins. The Mint is one of the largest and most versatile mints in the world, producing award-winning collector coins, market-leading bullion products, as well as Canada’s prestigious military and civilian honours. As an established London and COMEX Good Delivery refiner, the Mint also offers a full spectrum of best-in-class gold and silver refining services. As an organization that strives to take better care of the environment, to cultivate safe and inclusive workplaces and to make a positive impact on the communities where it operates, the Mint integrates environmental, social and governance practices in every aspect of its operations.
For more information on the Mint, its products and services, visit www.mint.ca. Follow the Mint on LinkedIn, Facebook and Instagram.
FORWARD LOOKING STATEMENTS AND NON-GAAP FINANCIAL MEASURES
This Earnings Release contains non-GAAP financial measures that are clearly denoted where presented. Non-GAAP financial measures are not standardized under International Financial Reporting Standards (IFRS) and might not be comparable to similar financial measures disclosed by other corporations reporting under IFRS.
This Earnings Release contains forward-looking statements that reflect management’s expectations regarding the Mint’s objectives, plans, strategies, future growth, results of operations, performance, and business prospects and opportunities. Forward-looking statements are typically identified by words or phrases such as “plans”, “anticipates”, “expects”, “believes”, “estimates”, “intends”, and other similar expressions. These forward-looking statements are not facts, but only estimates regarding expected growth, results of operations, performance, business prospects and opportunities (assumptions). While management considers these assumptions to be reasonable based on available information, they may prove to be incorrect. These estimates of future results are subject to a number of risks, uncertainties and other factors that could cause actual results to differ materially from what the Mint expects. These risks, uncertainties and other factors include, but are not limited to, those risks and uncertainties set forth in the Risks to Performance section of the Management Discussion and Analysis in the Mint’s 2023 annual report, as well as in Note 9 – Financial Instruments and Financial Risk Management to the Mint’s Audited Consolidated Financial Statements for the year ended December 31, 2023. The forward-looking statements included in this Earnings Release are made only as of November 20, 2024 and the Mint does not undertake to publicly update these statements to reflect new information, future events or changes in circumstances or for any other reason after this date.
For more information, please contact: Alex Reeves, Senior Manager, Public Affairs, Tel: (613) 884-6370, [email protected]
View original content:https://www.prnewswire.co.uk/news-releases/royal-canadian-mint-reports-profits-and-performance-for-q3-2024-302314428.html
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OIVE and ViniPortugal celebrate closing of joint campaign that reached 100 million consumers
MADRID and PORTO, Portugal, Nov. 22, 2024 /PRNewswire/ — For three years, A Shared Passion showed European consumers the quality and unparalleled versatility of Iberian wines. The program reached over 100 million consumers with advertising in airports, train stations, press trips, digital content, and other actions with opinion leaders.
The wine interprofessionals of Spain (OIVE) and Portugal (ViniPortugal) celebrated the closing of their ambitious joint campaign A Shared Passion with flagship events in Madrid and Porto. The closing event in Spain took place in Madrid’s iconic Calle Alcalá, while in Portugal, the World of Wine (WOW) in Porto was the perfect setting to present the achievements of the international collaboration. Both ceremonies were very well received by the press and the wine sector, highlighting the impact of the promotional actions that reached more than 79.2 million travelers in key transport infrastructures.
The campaign included 22 study trips, taking 150 specialized journalists to explore the world of wine in both countries and generating publications that reached nearly 15 million European consumers.
On social media, the A Shared Passion profile on Instagram exceeded 15,000 followers, consolidating its presence in the digital sphere. In addition, exclusive activities such as workshops and VIP dinners contributed significantly to this initiative’s global impact.
The final events were honored by the presence of opinion leaders, such as Masters of Wine Pedro Ballesteros and Dirceu Vianna Júnior, who moderated round tables with the presidents of OIVE, Fernando Ezquerro, and ViniPortugal, Frederico Falcão. The conference concluded with masterclasses that highlighted Spain and Portugal’s extraordinary oenological diversity, reinforcing the relevance of the sector in the economic, social, and environmental sustainability of both countries.
With funding from the European Union, A Shared Passion highlighted not only the quality and authenticity of Iberian wines but also their strategic role in the sustainable development of numerous municipalities. This initiative underlines the passion with which Spanish and Portuguese wines are made, reflecting their rich traditions and commitment to the future.
For more information: www.asharedpassion.com
Video: https://mma.prnewswire.com/media/2565600/ViniPortugal_and_OIVE.mp4
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