Miscanthus Giganteus proven to hold enormous potential as an alternative energy source

The search for alternative energy has begun due to the global distress that the world’s energy supply is running out and necessity for national, environmental and economic security. A new study conducted by the University of Illinois has identified Miscanthus x giganteus (M. x giganteus) as the resilient candidate for the next source of ethanol, if suitable growing settings are identified. This study forms a part of the Department of Energy-funded North Central Sun Grant Feedstock Partnership Project.

This superlative crop is a bioenergy product that can be specifically grown to produce ethanol. The universities study was utilized to investigate the establishment success, state of growth and the dry biomass yield reap from this grass.

According to the lead scientist and associate professor in the U of I Department of Crop Sciences, Tom Voigt, the overall goal is to promote the biomass yield of M. x giganteusper acre for the production of ethanol, whilst using the least inputs that hold no environmental harm.

Over the past 3 years researchers compared the establishment and growth rates, and biomass yield at four different locations namely Urbana, Ill.; Lexington, Ky.; Mead, Neb.; and Adelphia, N.J. with the sole purposes of finding regions that are most suitable for the grass.

Findings of the study disclosed the following results; in each location it was established that suitable growing conditions for the grass are evident, but in different years. The Illinois site was affected during 2008 due to late planting and extreme winter temperatures and during 2012 lower yields were experienced at the New Jersey site, as a result of the locations sandy soils and warm but dry weather conditions during that year.

During season two and three significant effects on the grass’s rate of biomass yield were brought on by Nitrogen fertilizer and M. x giganteus perennial forms a large mass of roots underground which promotes erosion control.

Voigt also stated that the study provided the researcher with an enhanced understanding of how diverse environment conditions can have a positive or negative impact on the growth, development and biomass yield of M. x giganteus.

"For the most part, we found that Miscanthus responds to sites in which water is adequately available. The combination of warm temperatures adequate precipitation spread throughout the growing season creates ideal growing conditions."  Tom Voigt explained

Voigt detailed "We are trying to develop a recipe for management practices that can be used by farmers interested in growing the grass,". "We want bioenergy crops to find their way into more marginal settings where ground is less easy to work with. Miscanthus can work where food crops can't."

In conclusion Voigt depicted that the results of the study are definitely of a positive nature and is proof that energy crops have an immense potential as an alternative energy source

For more information on this study;  "Miscanthus x giganteus Productivity: The Effects of Management in Different Environments" was published in GCB BIOENERGY Volume 3, Issue 6, December 2011.

Dubai property prices up by 1.09%

The latest figures by the REIDIN.com index showed that the average property prices in Dubai have increased by 1.09% in December 2011. This monthly escalation in the real estate value of Dubai reflects the overall growth trend that was experienced throughout 2011, which was marginally slow but maintained stability! 

Several factors have played a major role in this gradual improvement in Dubai’s real estate market; one was namely the Arab Spring unrest, which established the emirate as a safe haven in the Middle East, resulting in an inflow of capital.

The highest increases in values were generated by properties in prime locations, which have attracted a level of high demand from not only investors, but local residents too, who have realised a better standard of living and higher than average rental returns.

Property in Dubai is projected to increase more sharply in 2012 as market confidence completely recovers.

UAE property market ready to restore

According to estimates from Shuaa Capital, the UAE property market has lost approx. Dh734 billion (US$199.9bn) in value since the market saw its peak in 2008.

However an essential move towards rebuilding the market is clearly in place, however in order for it to bounce back in full force, industry participants will have to comprehend the basic changes in the market.

Industry analysts have indicated that the Emirates property industry does not involve convincing wealthy businessmen from all over the globe to buy property with the main objective of reselling them or to generate rental yields. Now more than ever will require people living and working in the UAE to spur the market.

Craig Plumb the head of research for Jones Lang LaSalle said, "Fundamentally we are moving from an investor's market to an end user's market,"

According to Economists the UAE property markets supply and demand equivalence will be out of sync for the next couple of years.

Just looking into the past three years, the home prices in Dubai have dropped 50 to 60 per cent, and yet there are another 10,000 homes scheduled for completion 2012, though over 40 per cent of office space in Dubai is vacant.

Abu Dhabi, have scheduled 50,000 homes to be completed by 2013, which represents a 27 per cent increase from the present supply.

The demand side of the property market will need to be increased in order to strengthen the market. For most of the property executives the visa policy initiative that was broadcasted by the government in June 2011, will prove to be just this incentive to reach buyers. The policy offers an extension on the visas of buyers to 3 years.

 "That policy is important," says Gurjit Singh, the chief operating officer for Sorouh, the Abu Dhabi developer. "Now what needs to be fleshed out are the rules that go with it."

An approach to enhancing the market is by entering the global competition arena to appeal to retirees, as numerous countries in Central America and also Asia have already implemented policies, which simplifies activities such as buying property, transferring of funds and settling in their countries.

"This is not uncommon," says Mr Singh. "They allow people to stay for a substantial period of time."

Making financing more available to potential buyers is a key recovery factor. In addition by focusing on more than just low interest rates and adding seriously needed liquidity in the market, lenders will be able to recoup their investment if a buyer defaults. Implying a speedy process to foreclose, reliable valuations and an active resale market, without a conceivable foreclosure market, lenders had until recently felt the housing sector too risky for their shareholders.

Developers have been vigorously lobbying for the Central Bank to apply these factors, as buyers are turning away due to interest rates that are over 6 to 7 per cent and loan-to-value ratios that are far above international levels.

"We need to see greater availability of financing," says Ian Albert, a regional director for Colliers International.

The Land Department auctioned eight repossessed homes in Dubai during the month of November 2011, this is just the initial sign that the system was working.

The mortgage market also needs a couple of adjustments that will raise the appeal for international buyers, as foreign investors continue to be stunned by the possibility that if a cheque bounces and they default on their mortgage they can go to jail.

The shift at the beginning of 2011finally allowed companies outside of the Dubai International Financial Centre to be able to settle disputes in the DIFC courts, which use international law standards. This shows that the continued advances in the legal system are definitely playing a role.

"It's good for Dubai," Richard Briggs, the executive partner at Hadef & Partners, told The National when the change was announced. "It will change the nature of litigation in Dubai as more claims work their way through the DIFC."

Developers will also need to be ready to counter the negative publicity that exists in the international industry related to the UAE property market.

The quality and management of projects will increasingly become as important as price and location. "Developers need to step up to the plate and deliver good products that are well managed," says Mr Singh.

But on a basic level the above approaches will not change anything if the economy does not achieve growth, thus initiatives that will increase the logistics, trade, shipping and aviation industries have a direct influence on the property market.

"One of the things we've learned is that we are not decoupled from the global environment," says Mr Plumb

Dubai property market will begin recovery in 2012

 International real estate specialist, Cluttons, has valiantly announced that they predict the Dubai property market to make its recovery in 2012 with a “brisk” start to the year.

 

The company is so assertive in their prediction that they have employed 10 new employees to handle the demand for January 2012.

Their audacious position is surprising as the Eurozone appears to worsen with each passing day. However, with talks of the Euro crumbling, certain analysts believe the outcome will lean to the positive. According to Cluttons, the high-end residential sector has actually benefited from the capital shifts that resulted as a consequence of the Arab spring and hence Dubai will end on a positive note in 2011.

From a realistic point of view, Dubai does not have much to lose from the political turmoil in the region, or the status of the Eurozone debt crisis and the continued weakness of the global economy. In fact Dubai has much to gain, as the metropolis is a captivating market with significant attributes only the UAE has to offer and none of the troubles currently afflicting the surrounding region.

Cluttons also said that due to the flexibility of landlords and tenants, Dubai has developed into a more mature market.

Cluttons review provides clarity

As we are moving towards the final weeks of 2011, Cluttons, the real estate specialist and a steadfast presence in the Middle East since 1976 has now released its property review for 2011.

According to this review, the Dubai real estate market is forecasting “selective stabilisation”, which is the overall exhortation for the commercial, hospitality and residential markets and a passage towards market maturity.

“Transactions levels are rising as job security and increased market confidence results in people seeking tenancy upgrades and home ownership,” said Elaine Jones, CEO of Asteco.

It is predicted that Cluttons will have brisk start to business in January 2012, as the real estate company said in a statement that it has recently engaged 10 new staff members in order to meet the demand in the New Year.  As a result of the Arab Spring capital shifts in the region benefits have arose for the high end residential sector, whilst due to the consequence of the cost savings that are available the commercial occupiers interest is gradually improving and its seems to remain a tenants or buyer’s market.

The statement said "Despite the negativity arising from the on-going economic turmoil in Europe and the US, Cluttons notes that the Dubai real estate market ends the year with more positivity than seen in the previous three years,"

Clutton also said that even though prices are still declining, the rate at which it’s falling has decelerated throughout 2011, which establishes the feeling that they are close to “bottoming out”. It has been determined that demand originates from variables namely; specification, finish, location, amenities and a sense of community, which compared to three or four years ago, is much more dominant in the mind of today’s buyers. The market place of 2011 have shown definite signs of maturing, which has resulted from landlords becoming more flexible in their terms and identifying the value of dropping vacancy levels instead of  holding a higher rent and reducing the deviations of securing a good tenant.

"We are encouraged by the stabilization seen in certain areas of the UAE's residential and commercial real estate market and have staffed our team accordingly for 2012." Steven Morgan, head of Cluttons in the UAE

Dubai Real Estate Recovery Insight

2011 has proven to be a year of recovery for the Dubai economy, which has found its salvation through aviation, hospitality, retailing, oil prices and real estate.

During the 40 years since the establishment of the United Arab Emirates, the nation's real estate sector emerged as a key driver of growth for the economy. The city opened its real estate sector to foreign investors in 2002, granting them the rights to freehold ownership of numerous property developments; this resulted in a substantial increase in Dubai’s house prices.

According to Morgan Stanley the prices in the Emirates increased between 2007 to mid-2008 by
80 per cent.

In 2009 as the Global downturn continued, Dubai proclaimed a $25 billion debt restructuring of conglomerate Dubai World. This resulted in the collapse of the real estate market, putting an end to a historic building spree in Dubai. The House prices in Dubai hit rock bottom when the market saw the biggest regional collapse in the start of the financial crisis, with house prices dropping 60 per cent from the 2008-peak.

During the 40th Anniversary Year 2011, the UAE government and real estate market regulators in Dubai have been actively taking strides in recapturing the confidence among property investors.

“I believe overall prices have stabilised; I think they are still holding reasonable value to, say, two years ago, so I believe the worst is behind us,” he said on the side-lines of the Arabian Business
Achievement Awards.

A significant step was taken by the UAE federal government in June 2011 to aid the real estate market, when they extended all visa’s for real estate investors from six months to three years. Experts and developers have faith that this will play a pivotal role in improving investors’ confidence and help in the recovery of the Real Estate market.

Another highpoint is Dubai’s plan to implement the Real Estate Investor Protection Law. The anticipation is that the law will offer greater clarity to investors on various topics, such as what steps an investor should take in case a project delays, what procedure the investor must implement in order to cancel the contract when the developer fails to fulfill their contractual obligation etc.

The Dubai Land Department data has also showed that the Emirate signed off 1.603 deals in the 10 months before October 2011, down from the 5.363 deals made during the same period in 2008. When compared to the data from 2009, a clear increase of 37 per cent is reflected, which suggests signs of recovery, this may also be connected with the Arab Spring unrest that has affected economies in the region. Due to this many tourists have been coming to Dubai and some rich Arabs have also chosen to move their business and make Dubai their home.

“We want them all to prosper, we don't want anyone to have a disaster but it’s a fact that it’s affecting the region and investors are looking for safe-haven buys” said by the chairman of Emaar Properties.

South Africa moving towards renewable energy

South Africa is ready to make its mark in the renewable energy sector. The World Bank has recently granted a $250-million (R1.5- billion) loan through its Clean Technology Fund to South African power utility names Eskom;

the companies’ goal is to help the country to reduce its reliance on coal-based power generation and depend more on renewable energy. Eskom will be developing a wind and solar plant, namely; a 100 megawatt solar power plant in Upington with is in the North Cape Province and also a 100-megwatt wind power project, which is in the Western Cape just north of Cape Town.


These two renewable energy projects will be the largest that have ever been attempted in the entire African continent. Eskom predicts that the construction of the 100-megawatt wind power project will start early in 2012.

Elbrahim Khan from Wesgro, the Western Cape Investment and Trade Promotion Agency said “These investments are a breath of fresh air and it shows that South Africa is no longer just talking about renewable energy,”

He also added “The good news for South Africa is that there are serious ambitions to get our energy mix right and there are more renewable energy power projects in the pipeline that are to be funded by private investors.”

It is evident that for both the private and public, South Africa is fast becoming a preferred renewable energy investments destination; this is very good news for South Africa’s increasing electricity demands, emerging clean energy sector and the economy.

There are also certain key investment areas in the country; these are the Eastern Cape, Western Cape where investments are predominantly into wind and photovoltaic (PV) solar power and the Northern Cape Province which has been recognised as the best area for concentrated solar power (CSP) technology, this technology uses mirrors or lenses to concentrate a large area of sunlight, or solar thermal energy onto a small area, this usually takes place with rotating panels.

South Africa certainly has the potential to develop itself into a major player in the clean energy sector. This is clear by the substantial amount of interest that has been shown by investors in recent months.

“We are going for renewable energy in a big way,” Khan said