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KUWAIT: The Operations and Information Technology Group at National Bank of Kuwait (NBK) serves as the driving force behind the bank’s digital transformation, a cornerstone of its long-term strategy. Acting as the bank’s central hub of innovation and strategic thinking, the group spearheads efforts to reinforce NBK’s leadership in delivering cutting-edge banking solutions and exceptional digital products and services. This commitment ensures the bank stays at the forefront of the rapid technological advancements reshaping the global banking landscape. Throughout 2024, the Operations and Information Technology Group sustained its trajectory of success, introducing several innovative projects across various markets. These initiatives significantly enhanced the quality and scope of services and products offered by the Bank, reinforcing its commitment to delivering exceptional value to its customers. Mohammad Yousef Al-Kharafi, Head of Operations and Information Technology Group at NBK, emphasized that NBK’s strategy is built on three core pillars. The first pillar is customer centricity, leveraging technology to deliver personalized, intuitive, and seamless experiences across all touchpoints. The second pillar focuses on operational efficiency, achieved through intelligent process automation, optimization, and the development of scalable platforms to reduce costs and enhance flexibility. The third pillar emphasizes data-driven decision-making, with a strong focus on building robust data analytics capabilities to derive actionable insights, improve decision-making, and unlock new business opportunities. Al-Kharafi added that NBK’s Operations and Information Technology Group has outlined a clear roadmap and a phased approach to achieving its goals, which consists of three key stages. The first phase is digital empowerment, focused on modernizing platforms and building a robust IT infrastructure to support future innovation. The second phase centers on innovation and integration, expanding the bank’s digital offerings through advanced technologies such as artificial intelligence, cloud computing, and Application Programming Interfaces (APIs), while ensuring seamless integration across various channels. The final phase is continuous development, fostering a culture of flexibility and innovation where technology, processes, and people continuously adapt to evolving customer needs and market dynamics. He also pointed out that in 2024, NBK successfully upheld its leadership in Kuwait and the region. This achievement follows substantial investments in technology and digital banking services over recent years. He also highlighted the bank’s commitment to anticipating the future of financial technology and staying aligned with the latest global advancements in the sector. Moreover, Al-Kharafi emphasized that earlier this year, the bank launched a transformational initiative designed to reshape its technological approach, strengthening institutional resilience through agile methodologies. He explained that this initiative resulted in a thorough restructuring of the group’s technology ecosystem, significantly boosting the bank’s capacity to swiftly and efficiently respond to the dynamic demands of its diverse business sectors. “This step marks a significant milestone in the bank’s journey towards realizing one of its core objectives: becoming a more agile and responsive organization. It reinforces our optimism about the transformative impact of these changes, which are poised to enhance the bank’s future success. By improving operational efficiency, these transformations will further reinforce NBK’s position as a leading institution locally, regionally, and globally,” Al-Kharafi said. He further explained that the Operations and Information Technology Group is committed to translating NBK’s digital transformation strategy into clear objectives. In addition, to prioritizing training and knowledge sharing, the bank’s strategy emphasizes fostering a digital culture and mindset across the entire organization, with over 7,000 employees actively engaged. The strategy also includes providing all employees with access to a digital learning library, covering key topics such as innovation, digital product development, digital payments, fintech, open banking, agile methodologies, and digital customer experience. Al-Kharafi also highlighted the Group’s dedication to tracking the latest global digital trends impacting the banking sector and creating insightful research and reports that capture the trends shaping the industry, including global best practices, gaps, and opportunities. In partnership with the Bank’s Design Center, the Operations and Information Technology Group prioritize delivering an outstanding user experience tailored to the specific needs of the bank’s users. This approach also includes conducting market research and user testing to identify the most relevant products and services for NBK’s customers. “These initiatives are designed to enhance service efficiency, allowing our employees to meet and often exceed customer expectations, thereby solidifying our reputation as a leading fintech organization through the rigorous application of our digital strategy. Our goal is not only to meet the needs and expectations of our customers, but to exceed that by anticipating their future needs and preferences,” Al-Kharafi added. He emphasized that NBK possesses unique strengths that set it apart from other financial institutions. As a dynamic leader in the banking sector, NBK boasts a diversified and ever-evolving portfolio of products and services. The bank’s leadership is reinforced by its strong presence in international markets, coupled with its commitment to attracting, developing, and investing in top banking talent. This dynamism reflects the bank’s unwavering focus on continually enhancing its products and services, while providing innovative solutions that effectively meet customer needs. Building on success, one milestone at a time The Operations and Information Technology Group contributed significantly to NBK’s digital transformation journey with several key achievements in 2024. As part of the International Banking Group (IBG) blueprint, in 2024, the Operations and Information Technology Group has embarked on a mission to utilize the bank’s digital technology assets in Kuwait to deploy state-of-the-art digital channels for its international branches, thus enhancing customers banking experience regardless of their location. This exemplifies NBK’s steadfast commitment to innovation and its role as a leader in the digital banking landscape, not only locally but also across its international locations. NBK has made substantial progress in the digital transformation of its overseas branches by adopting advanced technologies and digital channels to streamline banking operations and enhance the customer experience. The bank’s digital initiatives have received positive feedback, leading to a notable increase in its market share in the banking sectors of the countries where it operates. As part of its ongoing efforts to improve customer experience through self-service channels, and under the guidance of the Central Bank of Kuwait (CBK), NBK launched the WAMD service in July 2024 via the NBK Mobile Banking App. This service offers the fastest payment transfer system in Kuwait, processing three times the volume of standard KWD transfers across all channels. Furthermore, in its ongoing efforts to modernize its ATM fleet, NBK has introduced a new service that transforms the customer banking experience. This service provides a personalized experience for various customer segments, offering flexible dispensing options, the ability to update KYC details using Kuwait Mobile ID, along with the full range of traditional banking transactions for NBK customers. NBK mobile banking app The NBK Mobile Banking App, Kuwait’s highest-rated mobile application for digital banking, underwent significant enhancements in 2024. These improvements focused on refining existing services and introducing new features, all driven by the newly implemented agile methodology, to better serve the bank’s customers. This year, the NBK Mobile Banking App saw a fourfold increase in new launches compared to the previous year, with nearly 90 new services and application enhancements. These updates have significantly advanced the bank’s digital channels, ensuring continued uptime, availability, quality, and secure operations. To support this growth, the bank has also upgraded its technology portfolio, reinforcing its capacity to meet the needs of an expanding customer base. Underscoring the strong trust in NBK’s digital channels, 97.9 percent of total banking transactions were conducted through the bank’s digital platforms (including all self-service channels). AI and automation NBK has launched the “Open Text Workflow” for Request Approval Workflow process Automation, marking significant step forward in streamlining the bank’s workflow. Moreover, NBK has reached a significant milestone by implementing 102 RPA processes and attained a program success rate of 98 percent. NBK is set to implement RPA automation in various regions, having already established RPA in three international locations. The automation initiative has significantly advanced NBK’s ESG goals, leading to a reduction of 6.3 million sheets of paper, saving over 200,000 hours of time, improving turnaround time by 90 percent, and decreasing carbon emissions. Fikrah platform NBK’s Operations & Information Technology Group has recently introduced the Innovation Platform, Fikrah. This platform will facilitate the sharing of ideas among participants, with the system assisting in the generation of creative concepts through various brainstorming techniques and customized prompts. This initiative is designed to foster a dynamic environment for the presentation of innovative ideas. The platform integrates gamification by assigning points to staff for their submitted ideas, which they can subsequently use for redemption purposes. International transfers Leveraging the outstanding regulatory and supervisory framework provided by the Central Bank of Kuwait, which sets a benchmark for excellence in the banking sector, NBK has achieved an impressive STP rate exceeding 90 percent for international transfers, positioning it among the region’s leaders in seamless and efficient cross-border transactions. NBK leverages cutting-edge technology to enhance transparency and convenience for customers in tracking their transfers. The bank utilizes the GPI tracker for outbound transfers and the Swift4C tracker for inbound transfers, enabling customers to receive real-time status updates on their fund transfer transactions through online channels at any time. Combined Outgoing FCY+ KWD Incoming STP Rates stood at 97 percent, while Combined Incoming FCY+ KWD Incoming STP Rates were 96 percent. Building on the Central Bank of Kuwait’s guidance, NBK has further enriched its banking services with the introduction of the 24/7 WAMD settlement mechanism for low-value transfers, alongside the innovative AFAQ service. This new feature, available through the NBK Mobile Banking App, provides near-real-time settlement of funds transfers to the GCC. Cybersecurity and anti-fraud In line with the Central Bank of Kuwait’s Strategic Framework for Cybersecurity for the Banking Sector issued in February 2020, NBK is adopting a proactive cybersecurity framework that aligns with the highest international standards. The bank strengthens this framework with a comprehensive strategy focusing on data governance, privacy, and security. The bank also utilizes advanced security technologies to safeguard its digital interfaces, which undergo regular assessments by both internal and external auditors. Additionally, NBK ensures continuous monitoring of its digital channels through its Security Operations Center, backed by integrated and well-defined response plans to efficiently manage any potential cyber incidents. In a proactive effort to strengthen customer protection and combat financial fraud, the Virtual Room (VR) was launched on December 7, 2023. Operating 24/7, under the guidance of the CBK, it offers immediate and comprehensive support for fraud-related cases, underscoring the vital role of banks in ensuring financial security. The VR operates in close coordination with the Criminal Investigation Department (CID) and local banks to address fraudulent cases efficiently and promptly, 24/7. Legal restrictions are enforced as directed by the Public Prosecution, with meticulous monitoring of fraud-related transactions across both NBK and non-NBK bank accounts. Additionally, advanced systems are employed to detect and report suspicious activities. A notable example of the VR’s efforts involved combating sophisticated scams where fraudsters exploited Kuwait Mobile ID App to breach customers’ phones and transfer their lines from traditional SIM cards to eSIMs, granting access to sensitive information. Additionally, the VR has identified other fraudulent tactics, including fake links, phishing emails, and deceptive phone calls. Complementing its control measures, NBK, in collaboration with the Central Bank of Kuwait, launched a series of intensive awareness campaigns under the slogan “Let’s Be Aware.” These initiatives aimed to enhance customer vigilance against potential risks, featuring appearances on prominent TV and radio programs such as 360 FM Radio and Kuwait News Channel. The efforts also extended to producing and sharing educational clips across the bank’s social media platforms. NBK underscores the importance of customer vigilance in safeguarding their financial security. It advises caution when interacting with unverified links or calls, encourages the use of authorized apps for transactions, and warns against falling for enticing but dubious social media offers. The bank also stresses the need for immediate reporting of suspicious activities, reaffirming its dedication to protecting customer funds and ensuring the security of their banking transactions. NBK tech academy In collaboration with the Operations and Information Technology Group and the Human Resources Group, NBK launched the NBK Tech Academy last year to stay ahead of advancements in technology, information, and data security. The academy’s inaugural batch of 10 trainees achieved remarkable success, and this year, it aims to qualify 15 trainees as part of its continued growth and development. In 2024, the focus shifted to nurturing internal talent while also recruiting new Kuwaiti graduates from the first cohort of the NBK Tech Academy. These graduates were integrated into the development teams within the Operations and Information Technology Group, where they played a significant and effective role in enhancing and innovating current and future services. Their contributions have helped further develop the services provided to customers, enriching them with new features and improving overall service offerings. Attracting female presence Demonstrating NBK’s commitment to attracting women in the technology sector, the Operations and Information Technology Group has recently initiated the “Women in Technology” program, which aims to promote leadership and enhance diversity within the organization. In 2024, NBK has observed a significant rise in the representation of women at different levels, including both technical and leadership roles. This progress is consistent with NBK’s commitment to fostering diversity and inclusion, acknowledging that diverse teams have a positive and sustainable impact on business results. IT infrastructure As NBK continues to innovate and enhance its technological and digital services by unifying its infrastructure and technologies, investing in new initiatives, and adopting the latest cybersecurity systems, infrastructure technology remains the cornerstone driving the bank’s technology and digital agendas. In 2024, the Operations and Information Technology Group focused on stabilizing the infrastructure of the Bank’s Tier III certified Data Center by making strategic investments in technology modernization and upgrading digital components and systems. Furthermore, the Group is advancing infrastructure automation and adopting a self-service model to accelerate and streamline user requests. The Group is placing strong emphasis on proactive monitoring by consistently investing in cutting-edge technology in this area, while also exploring a new infrastructure architecture design aimed at simplifying and unifying the Bank’s data centers. Going forward, NBK plans to adopt more innovative initiatives, including AI, generative AI, and other cutting-edge technologies that will drive business growth, enhance customer experiences, and accelerate service delivery in the market.ASIAN EXEMPLARS Often called Asia’s Nobel Prize, the Ramon Magsaysay Awards honors individuals or organizations embodying greatness of spirit, transformative leadership and selfless service, attributes that also define the legacy of the seventh Philippine president. Photo shows the 2024 awardees in rites held on Nov. 16 at the Manila Metropolitan Theater. —CONTRIBUTED PHOTO On Nov. 16, the Ramon Magsaysay Awards marked its 66th anniversary. For the first time, I was tasked with handing out the awards, as representative of the late president’s family. It was an honor for me, the grandson of the seventh president of the Philippines, to join five distinguished Asians who received the award established to perpetuate the values my lolo believed in. When I watched my father, his namesake and only son, hand out awards last year, I did not realize that he would ask me to do it for him this year. He decided it was time for the younger generation to do the honors of handing out the awards that have become Asia’s most prestigious. My dad simply said that he would rather I give out the awards this year, as he felt it was time for me to take over that duty. He has been telling me this day was going to come sooner than later since about three years ago. I have been to the Magsaysay awarding ceremonies since I returned from the United States in 1993 when I was 25 years old. But I was always just a spectator, watching my dad on stage with the Magsaysay laureates. The event was always amazing and inspiring and made me take stock of what I was doing in my own life and start thinking about doing my share to help those in need. I am used to being on stage as a speaker, so that part of the ceremonies was not new to me. What was different was participating in handing out the medals and citations. The people receiving the Magsaysay Awards had shown greatness of spirit in service to the peoples of Asia regardless of race, gender, or religion—an expanded version of my lolo’s commitment to serve the Filipinos. Being on stage gave me a very different perspective on the ceremony. For one, I got to see the reaction of the crowd to the introduction of the awardees and their acceptance speeches. The awe and inspiration were evident. Talking to the awardees, it was remarkable how simple they were and yet had the courage and fortitude to take on Herculean challenges to do what was right. It was inspiring to know that the values and virtues of my Lolo Monching are lived by the Magsaysay awardees. As the son of a former senator and the grandson of a former president, my relatives and I have always been exposed to these ideals from a very young age, and we have all tried to practice it in our daily lives, no matter where our paths took us. From a very young age, we were always told to keep the Magsaysay name “clean” and to live with the virtues of hard work, honesty and integrity. I did not get to meet my grandfather. When he died on March 17, 1957, my dad was only 18 years old. Admittedly, it was not easy having Ramon Magsaysay as a role model, even if I did not get to meet him personally. Even without the awards named after him, his shoes were already too big to fill—heroic World War II guerilla fighter, congressman, secretary of defense, and president. But we have always lived the way he would have wanted us to, so I do not know how difficult it must be for others as this is all we know. Fortunately, although I was told about the legacy of my Lolo Monching, I was not nagged about it. It was mentioned every once in a while. I only remember being told often to keep the name “clean.” Despite being the grandson of a president and the son of a senator, I was never pressured to join politics, nor was I inclined to. My father believed that one way to serve was to do well in one’s calling. Later, I would realize that, for me, that calling would be ice cream, Carmen’s Best. My dad told me that if I wanted to help people, I could help without being in politics or government. There are many credible foundations that are run very well and are transparent in doing their work. We were encouraged to help through them. This I have always tried to do when I took over the family business after my dad returned to politics as a senator in 1995. I did consider running for office in 2013, but after my cancer diagnosis I dropped the idea. And, by then, I had decided politics was really not for me. I wanted to create a name on my own and have my own identity. In our first year of operations in 2011, we started helping the PGH (Philippine General Hospital) Medical Foundation Inc. In 2018, we started to help the Good Shepherd Foundation in Baguio City. The business was really never about just making money. It was a passion project that just grew as people supported it. While I was the one tasked this year to represent the family in the annual Magsaysay Awards ceremonies, it does not mean I am the only one honoring my lolo’s legacy. I have cousins who have done more to help other people. Dr. Ralph Valenzuela, who teaches at the UERM (University of the East Ramon Magsaysay) Medical Center, has dedicated his life to healing the sick. His brother Mike is an educator and a La Salle Brother. I am now making sure to instill in my children the values that my grandfather stood for: integrity, hard work and honesty. There will come a time, hopefully in the far future, when I will have to pass the torch to the next generation as well. I want to make sure that my children are worthy of the legacy their great grandfather left, not just on the family, country and region, but also on the world. I tell them the same thing my father told me—how we have kept the name of the Magsaysay family clean and that we should continue doing so. That the Rockefeller family had such admiration for lolo and the ideals and values he lived by, that they initiated the establishment of the Ramon Magsaysay Award Foundation. Subscribe to our daily newsletter By providing an email address. I agree to the Terms of Use and acknowledge that I have read the Privacy Policy . Former President Ramon Magsaysay may have left this world too soon, but in his short life, he managed to leave an enduring legacy that brings pride not just to us his family, but to all Filipinos. INQ
As we progress into 2025, Artificial Intelligence (AI) continues to reshape industries and revolutionize how we interact with technology. For those starting their journey in AI, it’s essential to understand the foundational algorithms that drive the field. These algorithms are the building blocks of AI systems and provide a roadmap for beginners to follow. Here, we explore some of the most important AI algorithms every beginner should familiarize themselves with. Linear regression is one of the simplest and commonly used algorithms in machine learning. It is a supervised learning technique aimed at modeling the relationship between a dependent variable and one or more independent variables. In short, linear regression predicts numerical outcomes. Due to its simple implementation and effectiveness, it becomes an excellent starting point for beginners. For example, it can be used to predict house prices based on features like size, location, and number of bedrooms. Understanding linear regression is vital for anyone looking to grasp more complex algorithms in AI. Logistic regression is a classification method rather than a regression analysis method, although that is what it seems to mean. It is used when the output variable is categorical (e.g., spam or not spam, disease or no disease). Logistic regression helps to classify data into two classes by estimating the probability of an event occurring. Logistic regression is used for binary classification problems and thus, is one of those important algorithms that a beginner should learn to get into machine learning. The principles also lay the groundwork for other established, advanced classifiers, such as SVMs and neural networks. Decision trees are a widely-used supervised learning algorithm for both classification and regression tasks. This system segments the datasets into subclasses of data based on value for the features; this resembles a tree structure. Each internal node corresponds to a decision because of a feature and thus each leaf node corresponds to a classification label or output. Decision trees are among the intuitive, visualizable, and understandable models for the beginner. Most of the time, they serve as the first stepping stone before taking up very complex yet interesting ensemble algorithms such as Random Forest or Gradient Boosting Machine (GBM). K-Nearest Neighbors (KNN) is one of the simplest yet effective algorithms that can be used both for classification and regression purposes. The main idea of KNN is to classify a data point into the majority class of its 'K' nearest neighbors. It does not require any training phase, thereby making it a non-parametric algorithm. Therefore, despite its high effectiveness, KNN is usually computationally expensive for large datasets. However, its versatility and simplicity make it an important tool for a true beginner in AI. K-means is one of the most common unsupervised learning techniques for clustering. It makes K distinct clusters of specific points matching the data. Thus, each point is assigned to a cluster whose center or centroid is nearest to the point. For understanding K-means clustering, it becomes very easy to learn that about unsupervised learning since the model finds some pattern in the data and that too without having its outputs pre-labeled. It's mainly customer segmentation, image compression, or detection of anomalies. In the recent past, neural networks and particularly deep learning models have become one of the most popular algorithms among researchers and industries. These algorithms mimic the architect of the human brain by having interconnected nodes (neurons) in various layers. Neural networks have been shown to perform particularly well in image recognition, speech, natural language processing, and autonomous driving tasks. While neural networks can be complex, beginners should familiarize themselves with the basic concept of feedforward neural networks, backpropagation, and the role of activation functions. Mastery of neural networks opens doors to cutting-edge AI applications in 2025 and beyond. Random Forests are an ensemble learning method that combines multiple decision trees to create a robust and accurate model. By averaging the predictions from several trees, Random Forests reduce the likelihood of overfitting and improve the model’s generalization capability. Random Forests are versatile and can be used for both classification and regression tasks, making them an excellent choice for beginners looking for a reliable machine learning algorithm. They are widely used in applications like fraud detection and medical diagnosis. For anyone looking to start a career in AI or deepen their understanding of the field, familiarizing oneself with these key algorithms is essential. From simple linear regression to the more advanced neural networks, each algorithm provides valuable insights into the workings of AI systems. By mastering these foundational techniques, beginners can build a solid understanding of machine learning and AI, setting the stage for exploring more complex topics in the future. As AI continues to evolve, these algorithms will remain fundamental to developing innovative solutions and driving the next wave of technological advancements.
Ukraine has been locked in a long-standing conflict with Russia since 2014 when Russia annexed Crimea and supported separatist movements in eastern Ukraine. The conflict has resulted in thousands of casualties and the displacement of millions of people, leading to a humanitarian crisis in the region. Despite facing formidable odds, the people of Ukraine have shown remarkable resilience and determination in defending their sovereignty and territorial integrity.
The decision to consolidate the membership plans from 5 to 3 comes as a surprise to many Tencent Video users who are accustomed to having a wide range of options to choose from. The previous plans differed in price and features, catering to a diverse audience with varying preferences and budgets. By reducing the number of plans available, Tencent Video is aiming to simplify the user experience and make it easier for users to select the plan that best suits their needs.Will Howard and Ohio State deserve to celebrate after dominating Tennessee
Technology services firm opens new experience hub in BasingstokeIn this context, the decision of the US State Department to provide gear for 18-year-old Ukrainian citizens joining the fight is a reflection of the deep bond between the two countries and a recognition of the sacrifices made by the Ukrainian people in their struggle for independence and freedom. By standing shoulder to shoulder with Ukraine, the United States is reaffirming its commitment to upholding democratic values and supporting nations that seek to defend their sovereignty against external aggression.In the competitive landscape of virtual reality, Sora's open beta has emerged as a game-changer, offering a dynamic and engaging platform for creators and viewers alike. As users explore the vast array of content available on Sora, they are drawn into a world of endless possibilities, where every video is a gateway to new experiences and adventures. Whether you're a casual viewer looking for entertainment or a dedicated creator seeking to make your mark, Sora offers a vibrant community and a wealth of opportunities to connect, learn, and grow.
Russia says Syria's Assad fled to MoscowAs the official showcase of the Poyi Dragon continues to captivate audiences around the world, anticipation builds for the upcoming expeditions and quests that will offer hunters the opportunity to face this legendary creature firsthand. The thrill of the hunt, the adrenaline of the chase, and the satisfaction of overcoming insurmountable odds await those brave enough to venture into the Crimson Forest and challenge the might of the Poyi Dragon.
Delaware judge reaffirms ruling that invalidated massive Tesla pay package for Elon MuskAccording to the weather department, Mumbai is expected to experience light showers with cloudy skies, while Delhi will remain mostly clear with cooler temperatures on Saturday, December 14. Chennai is likely to witness intermittent rainfall, with the possibility of thunderstorms in some areas. Bengaluru will have mild, partly cloudy weather, with a chance of isolated light rain. Hyderabad is forecasted to stay dry, with pleasant temperatures throughout the day. Kolkata may experience light rain in the evening, accompanied by a drop in temperature. India Weather Forecast: IMD Predicts Light to Moderate Rainfall Over Tamil Nadu, Puducherry, Karaikal With Thunderstorms . (SocialLY brings you all the latest breaking news, viral trends and information from social media world, including Twitter, Instagram and Youtube. The above post is embeded directly from the user's social media account and LatestLY Staff may not have modified or edited the content body. The views and facts appearing in the social media post do not reflect the opinions of LatestLY, also LatestLY does not assume any responsibility or liability for the same.)A stunning ₹190 crore penthouse in DLF’s Camellias has set a new record in India’s real estate market. The buyer, Rishi Parti , the 47-year-old founder and Managing Director of Info-x Software Technology , has acquired this ultra-luxury 16,290-square-foot property, as reported by the Hindustan Times. The deal, one of the largest of its kind in India, further highlights the booming demand for high-end real estate in Gurugram. The apartment, located in the exclusive Golf Course Road area of Gurugram, is part of DLF’s premium Camellias development. This sale places Gurugram at the forefront of the nation’s luxury property market, with experts predicting the city could rival Mumbai and Bengaluru as key hubs for elite investors. Also Read: Luxury hits a high: Gurgaon apartment sold for nearly Rs 2 lakh per sq ft Who is Rishi Parti? Rishi Parti is an accomplished businessman and angel investor. He co-founded Info-x Software Technology Pvt Ltd in 2001 at the age of 24. His company, based in Gurugram, provides logistics and digital transformation solutions, employing around 150 people across 15 countries. Apart from Info-x, Parti holds directorial roles in companies like Find My Stay Pvt Ltd and Integrator Ventures Pvt Ltd. A New Benchmark for Luxury Living The ₹190 crore transaction is noteworthy not only for the size of the deal but also for setting a new benchmark in terms of price per square foot in India. The deal is the highest-ever recorded per square foot price for a high-rise apartment in the country. According to Samir Jasuja, founder and CEO of real estate data analytics firm Propequity , "This ₹190-crore deal is the highest recorded per square feet price ever for a high-rise apartment in India, surpassing Mumbai by miles. This translates to a price of ₹1.18 lakh per square foot on super area and ₹1.82 lakh per square foot on carpet area." 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This stark contrast underscores the growing disparity in pricing between the two cities, with Gurugram now emerging as a new focal point for premium residential developments. The Growing Appeal of Gurugram’s Golf Course Road The sale of this penthouse is a clear indication of Gurugram’s growing stature as a destination for ultra-luxury living. The Golf Course Road area, often referred to as North India’s 'billionaires' row,' has become a hotspot for wealthy individuals seeking luxurious residences. Real estate experts foresee this area competing with the likes of Mumbai’s Altamount Road, Delhi’s Lutyens’ Zone, and New York’s Billionaires’ Row. DLF's Camellias development is one of the prime properties in the region, and the upcoming DLF Dahlias project, located just across the road, is expected to drive the market even further. The Dahlias project is already seeing significant interest, with over 100 apartments sold in its pre-launch phase. These apartments are priced between ₹60 crore and ₹100 crore, with a price of around ₹65,000 per square foot on super area terms. Real Estate Boom in Delhi NCR The luxury real estate market in Delhi NCR has been expanding rapidly, with Gurugram now positioned as one of the country’s most desirable locations for premium living. In fact, luxury residential launches in Delhi NCR accounted for 64% of the total luxury launches in India’s top seven cities in the first half of 2024, according to real estate consultancy firm JLL. DLF’s Camellias penthouse sale is part of this broader trend. As wealthier buyers seek more exclusive and opulent living spaces, Gurugram’s high-end property market is attracting both domestic and international investors, reshaping the city’s real estate landscape. (You can now subscribe to our Economic Times WhatsApp channel )Barrister cleared of misconduct calls on head of Bar Standards Board to resign
Investing Action Plan: Notes On Underestimating The S&P 500Religare's Rashmi Saluja 7th highest-paid CEO at over ₹68 crore in FY24At 35 years old, Ronaldo shows no signs of slowing down. His dedication to fitness, discipline, and relentless pursuit of excellence have kept him at the top of his game for over a decade. With his unmatched work ethic and commitment to maintaining peak physical condition, many believe that Ronaldo has what it takes to extend his career well beyond the traditional retirement age for footballers.
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