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Business Computers & Software Technology U.K U.S

Gantt Charts: Exploring the Applications and the Benefits

Managing a project, irrespective of its size, comes down to juggling a myriad of tasks, people, and whatnot—a single deadline is missed, and the entire project can go awry, incurring hefty losses and serious repercussions.

For project managers looking to boost their productivity by effectively managing their teams and projects, taking a visual approach to project management is a no-brainer. 

Even though tons of project management methods are available, Gantt charts have long been considered the most effective.

Instead of bogging you down with details, these charts give you a comprehensive visual representation of the tasks, milestones, and deadlines plotted against time.

IntelliPaat has offered a complete breakdown of a Gantt chart to help you get a head start.

But first, let’s elaborate on what a Gantt chart is.

What Is a Gantt Chart

Invented by Henry Gantt, a Gantt chart is, at its core, a pictorial view of a project: the resources involved, the start and end date of the project, how it’s planned to be executed—all laid out in horizontal bars. 

Based on your specific project requirements, you have a wide range of Gantt charts to choose from—such as basic Gantt charts, milestone Gantt charts, resource-loaded Gantt charts, dependency Gantt charts, and more. 

Applications of a Gantt Chart

Since a Gantt chart offers instant insight into a project, users can effortlessly see how it will progress over time. 

A Gantt chart facilitates:

  • Project Planning: Project planners can visualise the building blocks of their projects, thus organising and categorising them into fragmented and more manageable tasks. Plus, tasks can be prioritised for scheduling efficiency.
  • Resource Allocation: Stretching the available resources over too many tasks causes setbacks. With the project timeline in the Gantt chart, project planners can get an instant snapshot of how and where the resources are being used. Besides, a Gantt chart facilitates resource management by enabling project managers to delegate effectively while also aligning resources. As a result, project milestones are more likely to be achieved within the allocated budget and timeframe, ensuring no employee is overworking.
  • Defining Logistics and Task Dependencies: Gantt charts help project managers keep an expert eye on project logistics. In addition, by illustrating dependencies as lines linking two tasks or linking a task to a milestone, they can show when a particular task should start or end in relation to other tasks. For a company running projects in a multi-team environment, this feature can be highly effective. 

The result: Efficient project building and management that keeps measurable (and quick) revenue rolling in the business

Benefits of a Gantt Chart

  • Boost Team Productivity: One of the notable advantages of a Gantt chart is that it facilitates cross-departmental collaboration and brings all involved stakeholders on a single page. On top of that, it helps stakeholders track how a project is progressing in real-time, thus enabling the team to plan their steps ahead of time. Staying aligned on project tasks allows them to bolster business productivity.
  • Set Realistic Deadlines and Expectations: As we have already stated, the Gantt chart visually represents all the tasks and interdependencies comprising a project. Such a cohesive visual representation helps teams set realistic deadlines for each task and ultimately, the entire project.
  • Adjust the Plan in Real-Time: Having insights into the pace at which each task is progressing helps you depict the upcoming delays and roadblocks. This allows you to dodge potential risks or adjust your plans accordingly.

Turbocharge Your Presentation with Gantt Charts

Project managers dealing with massive troves of information frequently create calendar-based Gantt charts in Microsoft Visio or Project and import them into PowerPoint slides. However, the process is time-consuming and gets arduous due to lacking essential features. 

For those who want to create Gantt charts directly in PowerPoint with fewer clicks and less time, leveraging an add-in, such as think-cell, is a sensible decision. Automated Gantt charts, built with high-end software, help create better results—both for your presentation and timeline planning.

Wrapping Up

In short, when it comes to organising a project efficiently, a Gantt chart is second to none. Get the hang of Gantt charts and manage even the most complex project in a breeze. 

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Home & Garden Living Real Estate U.K

London Landlords Can Justify Higher Rents By Setting Their Rentals Apart

London’s rental market is in a deep crisis.

The inflated cost of living, hefty hikes in rents, and the risk of inflation looming over the UK have led to a record exodus of renters, as many plan to move to other parts of the country in search of more affordable accommodation.

The result: rapid cooling in rental home demand leading to a sharp fall in rents.

For landlords whose incomes are getting hard hit by inflated mortage rates, this could be a ‘perfect storm’. 

In light of the current state of housing, the London Post has shared a guide for landlords looking to improve their homes’ value to entice more tenants.

How to Increase Your Home Value

Except for the location of your home, there’s a whole lot of things you can do to justify higher rent and increase your profit margin, such as:

Improve Curb Appeal

Improving the curb appeal for a rental property is a great marketing strategy for homeowners looking to draw the attention of prospective tenants. 

One of the best yet affordable ways to boost the marketing of your rental property is to spruce up your building’s paint job with a new colour or a fresh coat. Nothing says quirky quite like a bold colour. A brilliant splash of colour makes the exterior of a property visually appealing, thus attracting more prospective tenants to land on your advertisement. However, you don’t need to turn your grey and white house into pink and blue. Brightening up the siding, mailbox, or front door can help bring in a bit of character to even a basic palette.

Apart from that, well-manicured landscaping, a squeaky clean exterior, attractive lighting, a high-tech entrance, etc., can help improve your rental property’s curb appeal.

Add Luxurious Fixtures

To increase your home’s appeal to high-net-worth renters, upgrading to luxury fittings and fixtures is always a sensible investment. 

Adding deck lighting, upgrading bathroom fixtures, replacing outdated bathtubs for designer tubs, etc., are a few ways you can create a buzz around your property.

Boost Your Online Presence

Advertising your rental property is critical, with at least 73% of prospective tenants turning to online sources for their search. 

With digital marketing, you can add an upswing to your renter selections while also minimising empty rental periods.

For landlords who want to be less hands-on yet need professional marketing for their homes, hiring a real estate service like award-winning Quintessentially Estate is a sensible business decision. 

Combining a multi-faceted, multi-channel property advertising approach with a thought-out marketing strategy, a professional service ensures a client’s property gets maximum traction on rental sites. 

On top of that, high-end real estate services frequently collaborate with blue-chip and leading relocation businesses to ensure landlords get access to a greater pool of high-calibre renters.

Make Sure You Have All Relevant Checks Up to Date

As a landlord, you have a spectrum of compliance obligations to adhere to, and it grows year by year. 

Ensuring all regulatory compliance checks are up to date is a legal requirement that ensures your renters are safe in a home that’s energy efficient and offers deposit protection, fire and gas safety, and more.

Failing to meet regulatory compliance can lead to hefty fines or charges, so it’s not something to skirt around.

Being transparent and explaining everything to your renters is an impactful approach that exhibits your care for your property. 

Wrapping Up

Even though the current economic upset and soaring rents are forcing tenants to leave London, landlords can maximise their property value by following the home improvement tips featured above. 

Categories
Business Employment Media & Communications Technology U.K

How Tech Startups Can Make Themselves Recession-Ready

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The start of 2023 has seen big tech companies laying off employees in the thousands. To make matters worse, there’s talk of a potential recession happening this year. 

If tech giants are having a rough time, how will smaller tech startups fare in this market?

As a smaller tech company, you’d be justified in getting a wee bit concerned. Fortunately, even when the near future looks bleak, there are ways your business can avoid the doom and gloom that comes with economic downturns.

Here’s how:

Focus on Your Team

A business is made up of not just the brand but also its people. And, as a startup, you want each member of your team to be a valuable asset. The more you invest in them, the more they will be invested in you.

That’s why continuous improvement and on-the-job training are invaluable. Technology changes and grows rapidly, and you want your employees to keep up. Not only are you building a stronger foundation for your business, but you’re also giving your employees a reason to care about the company’s growth. The more you grow, the more they grow.

This is one of the best ways of showing them you believe in their potential. And, also of creating a lean team that will keep your business afloat when times are rough.

Understand the Recession Market

Let’s face it. Recessions are nothing new. And, whilst technology might not have been the same, business principles tend to work in the same way, generation after generation.

So, take a look at what other successful tech companies did in the past. See how you could apply those principles to your business.

That should give you a good baseline for a set of revised business goals for your company during a potential recession.

It helps to have a multilayered strategy with different sets of business goals for various situations. Things might not be as bad as you think. Alternatively, things might be worse.

If you have a plan for every situation, including the worst-case scenario, you won’t be left floundering when (or, if) things do go south.

Be Prepared to Offer New Products

When COVID-19 started spreading in 2020, many countries enforced a strict lockdown. The UK was one of them. Businesses that were deemed non-essential had to close operations. That included manufacturers as well.

However, seeing that there was a shortage of ventilators in the country (at a time when the NHS would require more ventilators than normal), the Government issued the Ventilator Challenge.

Manufacturers who agreed to take part in it got together to make 20 years’ worth of ventilators in 12 weeks.

If you look at other businesses during the lockdown, you’ll see a number of them did have to change their product offerings in order to stay relevant.

In a recession, you may find that the products you normally make are not required. So, you need to be prepared to change your offerings.

(And, if you paid attention to my first point, you’d have a team that would be able to handle that change!)

Focus on Retention, Not Acquisition

You know that saying—a bird in hand is worth two in the bush?

It applies—very strongly, I might add—to customers. 

It is always easier to retain existing customers by keeping them happy than it is to acquire new ones. 

And, if you’re in the middle of a recession, new customers are even more difficult to find.

So, spend time on building those existing relationships instead of focusing on new ones. Reach out to your customers and find out if their needs have changed. If times are difficult, it might be possible for you to help each other out.

Plus, marketing to existing customers doesn’t have to be tedious or boring. As Bold Content pointed out, B2B videos don’t have to be boring. Build a connection with emotional, funny, relatable content.

(Plus, Bold Content is already helping produce content that could help your workforce grow—check out the story about the animation they created for Tech She Can, which encourages young girls to take up STEM studies.)

So, there you have it. Keeping your tech startup going during a recession is all about having a plan and building human connections. Stay creative, and maybe I’ll be writing a case study on your business in a couple of years.

Categories
Energy & Environment Public Affairs U.K

UK Energy Consumers Brace For Hefty Energy Bills Despite Falling Gas Prices

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As supply issues have been exacerbated worldwide by the Russian invasion of Ukraine, the wholesale price of imported oil and natural gas had spiralled upward. 

According to The Guardian, the current energy crisis in the UK stemming from the Ukraine conflict cost the equivalent of £1,000 for every adult.

But now, even though the wholesale gas prices in the UK have started to drop, Britain’s energy cost is not decreasing sooner—residents won’t see the benefits until the second quarter of the year, reported The Conversation. 

Energy Costs Showing No Sign to Decrease Sooner

Inflated wholesale prices cause residents to encounter hikes to their energy bills. 

Wholesale energy prices have started decreasing from their peaks in summer 2022, but a substantial lag is expected before these feed through to consumers.

Now, with falling wholesale prices, the new Ofgem price cap is yet to be announced.

The energy experts predict the energy price cap to see a sharp fall by the second half of the year when the plunging gas prices will be able to impact the hedging strategies and season-ahead contracts.

It means that the benefits of decreasing gas prices won’t be felt sooner.

Ofgem is about to announce the price cap for the second quarter of the year this February.

Cornwall Insight forecasts the UK’s energy price cap to slip from its present record-high rate of £4,279/year to £3,294/year in April and to £2,200 from for the next six months.

Even though it would be a sharp decline from current levels, the price is still very high—Ofgem cap was between £1,000-£1,200/year before the Ukraine conflict made fossil gas costs reach record highs.

However, setting an Ofgem price cap is the process that ensures an energy supplier can recoup their costs; it doesn’t essentially cap the consumers’ bills. 

Based on the estimations, energy experts anticipate the energy bill to soar from the current amount of £2,500/year to an average of £3,000/year or above from April 2023 for the following 12 months. 

It will be much higher than the forecasted price cap of £2200/year from July. 

Prices are capped by whichever is the lower—Ofgem price cap or Energy Price Guarantee (EPG). It means, the residential energy bills are expected to decrease from the second half of the year since the price cap will fall below EPG by then.

However, even if energy prices drop as anticipated, they will still be around 70% higher than in winter 2021/22.

What Can Be Done Now?

With energy prices continuing to soar, plans must be rendered to help consumers ease the energy cost. 

As the UK faces soaring inflation and increased cost of living, residents are encouraged to keep their energy demand reasonably in check. 

Experts advise UK residents to turn down the flow temperature on their boilers to 60°C or below to knock about £160 off their annual energy bills.

Again, for households looking to reduce their energy waste while also supporting their energy bills, servicing boilers annually by leveraging an affordable and reliable service like Mulgas Boiler Care Specialists is a sensible decision. 

Maintaining boiler service check-ups ensures homeowners are running their heating systems efficiently, and it can also help lower their energy bills. 

Britain’s over-reliance on fossil gas has been a leading cause behind its soaring energy bills. With that said, emphasis must be placed on increasing renewable power generation to curb the reliance on fossil fuels significantly. 

Renewable energy generation can help the UK hit the Net-Zero goal by 2050 while also boosting its energy security and knocking off a substantial amount from the household bill.

Wrapping Up

Until July, consumers will see little benefits of falling gas prices. However, proper steps should be taken to lower energy consumption.

Categories
Computers & Software News & Current Affairs Technology Telecom U.K

DDoS Attack on NATO Websites Affects Turkey-Syria Rescue Efforts

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On the 12th of February 2023, some of NATO’s websites were temporarily disrupted due to a Distributed Denial of Service (DDoS) attack. The group that claimed responsibility for carrying out these attacks is Killnet, a Russian hacktivist group.

Apparently, the group had announced its intention to carry out such an attack in its encrypted channel on messaging service Telegram. It also appears to have been soliciting donations in the form of cryptocurrency to fund its activities.

According to the report by Computer Weekly, NATO secretary general Jens Stoltenberg assured reporters that the alliance had put together additional defence measures. 

He also said, “The majority of Nato [sic] websites are functioning as normal. Some Nato websites are still experiencing availability issues, but our technical teams are working to restore full access.”

Since it appears that NATO’s classified networks were not affected, it’s likely that the attack was to disrupt the search and rescue mission in Syria and Turkey. That’s because reports suggest the networks affected are used by NATO’s strategic airlift capabilities (SAC).

SAC found that, during one of its search and rescue missions in south-eastern Turkey, it was unable to communicate with one of the C-17s in flight due to the disruption in service. Fortunately, it managed to stay in contact throughout even though communications were down.

A Well-Timed Cyber Attack

This is not Killnet’s first attack. It has been responsible for other DDoS attacks, with healthcare taking a lot of damage.

It is interesting to note that the DDoS attack on the NATO websites took place on a Sunday. Weekend and holiday attacks have become a trend, with cybercriminals relying on the skeleton security crew and lack of staff to hide the breach for longer.

DigitalXRAID discussed this phenomenon in a recent article about its 24/7 SOC service. From delivery companies (Yodel) to insurance companies (AON), no one is safe from weekend-timed attacks.

The reason why cybercriminals attack over the weekend or during holidays is, as I said earlier, due to the lack of personnel. 

The later an attack is detected, the more time the threat actors have to go deeper into the network. They can gather more information and, potentially use the information found to carry out more attacks.

For that reason, quick detection is imperative. Note that the NATO websites attack was detected really quickly and they still had some availability issues. If they hadn’t detected the attack quickly enough, the recovery time could potentially have been longer.

Ongoing Detection for Better Protection

According to DigitalXRAID, having a 24/7 Security Operations Centre (SOC) can make all the difference when threat actors attack. Your SOC would constantly monitor for any suspicious activity, catching cyberattacks before they become cyber incidents.

However, the problem is that most companies can’t afford to hire an in-house SOC team. In fact, if (ISC)2 is to be believed, the cybersecurity profession needs to grow by 3.4 million people in order to close the workforce gap.

In that case, it might be worth outsourcing your cybersecurity to experts who have the expertise and resources to give you better security from cyber threats.

Companies like DigitalXRAID could help keep your business safe from online threats, whether it is your ongoing services or cloud migration.

Have a think. See if you want to invest in ongoing cybersecurity for your business.

Categories
Business Energy & Environment Lifestyle Living U.K

First British Interior Design Collective Achieves B Corp Certification

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Accouter Group of Companies, home to Accouter, has recently been announced as Britain’s first B Corp certified interior design collective, reported Elliman Insider. 

AGC believes that the team’s commitment to meeting the “highest standards of verified performance, accountability, and transparency” on a spectrum of social and environmental issues has brought the company this prestigious recognition.

“We are proud to be the first British Interior Design Collective to join this community of change-makers, alongside a global movement of people using their business as a force for good,” said Stella Gittins, cofounder of Accouter Group of Companies. “B Corp is a holistic approach for us. It shapes our culture and encourages us to acknowledge our business impact and act. Most importantly, it gives us a framework for continuous improvement, so that every day, we become a little bit prouder of what we do.”

What Is B Corp Certification?

B Corp is a private certification awarded to for-profit companies that can demonstrate their deep commitment to using business as a ‘force for good’—whether via community outreach, taking sustainability initiatives, or implementing equitable economic practices.

Since 2007, this highly prestigious certification has been awarded by B Lab to enterprises that meet the ‘social and environmental performance’ standards. 

B Lab is a non-profit organisation helping to build a sustainable global economy that will benefit people, the environment, and the world. 

AGC Hails B Corp Status

AGC achieved the highly coveted B Corp status in early 2023.

The company has been evaluated rigorously based on the B Impact assessment criteria. The company scored 83.3, whereas the median score for a business to pass the assessment process is 50.9. 

When more than 22 million pieces of furniture are disposed of in the UK each year, AGC is unwaveringly committed to balancing purpose with profit by championing environment-friendly materials and long-lasting manufacturing processes.

“We know there is cynicism around the topic of sustainability for businesses, which is why it was important for us to achieve our B Corp. B Corp separates the green-washers from the good-doers. It shows people that those that really want to make a change, are making a change and that they are willing to operate in a way that puts people and the planet first, and profit second. For companies like us, the priority is to meet the highest social and environmental standards, and do so with authenticity, transparency, and full accountability,” said Alec Watt, CEO of Accouter Group of Companies.

As part of its effort to better demonstrate its adherence to B Corp standards, the company has formed an internal team headed by a dedicated B-keeper. The team is responsible for ensuring that the improvement goals of the company closely align with its working culture. 

“Our enthusiastic B Corp team worked together to identify all our processes to ensure we are practising what we preach when it comes to responsible business practices. We now have a village of internal people rooting for change, which makes us a powerful force towards achieving better things as a business. We wanted to come together and step up, and we’re proud to have done exactly that,” stated Gittins.

Partnering with Walpole, AGC helps the British luxury industry lower its carbon footprint and environmental impact for a more sustainable future.

What’s Next?

Joining the B Corp force is only the beginning, according to AGC. AGC is committed to ensuring their improvements are ever-evolving by helping build a more inclusive, sustainable economy. 

With B Corp certification, the company is aiming to build a global movement for ensuring sustainable development, curbing inequality, and concocting job opportunities with purpose and dignity.

Categories
Computers & Software Marketing & Sales Technology U.K U.S

A Sneak Peek at the Digital Marketing Trends of 2023

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I came across this article on Top Marketing Trends in 2023 by CMSWire. As an SEO content writer, I was definitely interested in what it said. I was even more curious as I’d seen another article in Forbes on the same topic.

The Geek in me wanted to compare the trends these two articles thought would be strong in 2023.

The writer in me wanted to arm myself with industry knowledge—be a more effective content writer and all that.

The me-the-person will read anything and this was as good reading material as any, so…

Anyway, here’s the information, distilled for you by intelligence that is not artificial.

Top Marketing Trends 2023

According to the article, here are the top trends of 2023:

Social Media and Influencer Marketing to Grow

According to HubSpot’s Marketing Strategy and Trends Report, around 25% of marketers use influencer marketing. This form of marketing currently seems to have the highest ROI. 

So much so, it’s expected to grow in 2023, with 17% of marketers planning to try it out for the first time this year. And, of the marketers who are already using this form of marketing, 89% are expected to increase their budgets!

Of course, not everyone agrees with this. Some marketers believe that it’s not influencer marketing that sells but social media marketing. And, influencers are simply harnessing the power of social media.

According to them, content creators who focus on social media will achieve growth, rather than influencers specifically.

Local Search Still Dominates

With the rise of mobile device use, search is slowly becoming more local. If I’m driving and want to grab a bite to eat, it’s easier to look for places in the vicinity. 

With more people browsing the interwebz on their phones instead of a desktop, it’s only logical for local search to become more important in 2023.

So, if you want your technology and software business to be found locally, get yourself an IT marketing company (like Geeky Tech) to help you.

AI-Generated Content to Invade Webpages

I know I have been going on and on about ChatGPT—how it is being used to create malware and how it is going to change SEO—but it’s hard not to. It’s the hot news of the year.

However, it’s not the only AI content generation tool—it’s just the most popular. And, for better or worse, it seems like AI-generated content is here to stay. 

Content generation is a huge part of digital marketing. With AI writing or creating images and videos, marketers will be able to generate vast quantities of content really quickly.

This will mean that, with robotic content saturating the world wide web, original content might find it difficult to stand out.

At the same time, it will create a demand for content marketers who can harness the power of AI to create top-quality content.

Audio-Visual Content Consumption Rises

Social media marketers already knew that posts with images or videos get more engagement. However, now digital marketers are also noticing a rise in the demand for audio and video content.

And, it’s not just audio clips and short videos that are being voraciously viewed. Audiences are also devouring live-streamed content and podcasts.

Another point to note, people no longer want perfectly produced videos. TikTok seems to have created a demand for user-created videos that aren’t professionally edited.

Social Accountability Is a Factor Now

It’s been a growing trend but will continue to play a role for marketers in 2023. Consumers want to align with brands that share the same values as them. In fact, 50% of Gen-Zers and nearly 41% of millennials prefer to patronise businesses that support social causes.

Gamification Wins

Audiences visiting websites are more likely to stay if there are interactive elements to keep them engaged.

Plus, it makes a great talking point, which helps in word-of-mouth marketing!

So, there you have it; the marketing of 2023. These are points you’d need to keep in mind when planning the marketing strategy for your IT company.

Categories
Financial Market Living Professional Services Real Estate U.K

London’s Luxury Residential Market Booms Defying UK’s Home Sales Slowdown

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Even though the UK is now seeing the steepest slump in property prices since the 2008 financial crisis, London’s luxury residences are managing to defy Britain’s housing market downturn, reported The Business Times.

Fifteen homes in Central London valued at £5 million or higher were registered as sold in the fourth quarter of 2022—which is 63% higher than the pre-pandemic average, according to researcher LonRes. “It’s not surprising, therefore, that it tempted would-be sellers to put their homes onto the market,” said Anthony Payne, managing director at LonRes.

UK Housing Market Poised for Disruption

The UK’s housing market is facing a ‘perfect’ storm as it tries to eke out growth while coping with the surging cost of living, hiking mortgage and inflation rates, and the risk of recession. 

The result: rapid cooling in property demand and sales activities leading to a selloff in the UK’s housing market.

Let’s look at how much the British housing market and buyer demand have been impacted by current economic setbacks:

  • British home prices slid in December 2022 by the most in 13 years and are predicted to slip by a whopping 20% in 2023 if the UK’s base rate continues to hike, according to The Guardian.
  • The Bank of England has been raising the base since the beginning of 2022 as part of its effort to return inflation to its 2% target level. The bank rate has gone up to an annual rate of 4.0% in February 2023—a jump of 0.5% from 3.5% in December 2022. 
  • On the other hand, surveyors registered a net balance of -47% for new buyer inquiries in January 2023, plunging from -40% in December 2022.

In such a circumstance, analysts have unanimously agreed that the UK’s property market is facing more turbulence this year.

Wealthy Buyers Are Snapping Up London’s Luxury Property

Despite the present economic upset throughout Britain, luxury sales in London are skyrocketing, outshining the UK’s housing market. 

But why?

First off, even though the interest rate and mortgage rate have hit an all-time high this year, millionaires and elites are less likely to get affected by the impacts of the increase, as they’re less dependent on borrowing. 

Secondly, Britain’s pound continues to tumble sharply against the US dollar, dropping a full cent to around $1.20.

Part of the weakness of the pound sterling is the increase in power of the US dollar which is attracting more international investors and wealthy buyers to flock to London’s priciest homes.

Case in point: In the first half of 2022, overseas buyers purchased 48% of the total luxury home purchases in Prime London—a jump from 13% from 2021.

That said, the demand for luxury property management services offered by agencies like The London Management Company is getting a push, with ultra-high-net-worth buyers investing in upscale properties in Central London.

Offering bespoke services—from maintenance to upkeep and housekeeping—a class-leading agency ensures a client’s luxury property is well-managed, squeaky clean, and always ready for their arrival.

However, in the final quarter of last year, home sale activities decreased in Greater London due to climbing mortgage rates, soaring inflation, and high base rates.

“The final quarter of the year saw a change of direction,” stated the managing director at LonRes. “We’ll be keeping a close eye on how the market unfolds in the months ahead.”

Wrapping Up

Outperforming Britain’s housing market, London’s luxury houses are seeing substantial growth this year.

Categories
Financial Market Lifestyle Real Estate U.K U.S

Dubai Remains One of the Most ‘Affordable’ Luxury Home Destinations in the World

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According to the Financial Express, Dubai continues to remain one of the world’s most ‘affordable’ luxury residential markets, with most prime residences transacting for an average $870/sq. ft. USD.

The ‘affordable’ price per square foot in most prime residential neighbourhoods—combined with Dubai’s safety, excellent climate, and unrivalled sun-sea-sand lifestyle—is helping the city cement its iconic status in the luxury property market, thus fuelling the demand.

How Dubai Is Considered an ‘Affordable’ Luxury Home Destination

According to the Dubai Residential Market Review Winter 2022-23, a report published by Knight Frank, the majority of submarkets in Dubai exhibit a house-price-to-income ratio of less than six times yearly income. 

Whereas, as a rule of thumb, a house is considered affordable when its price is around six times the gross income of a household.

The quarterly report, which analyses Dubai’s real estate market and sheds light on key trends and forecasts, also published average house prices vs. average annual income by neighbourhood to help readers understand how accessible the mainstream residential market is.

Based on this report and other factors, the Financial Express has determined that the majority of Dubai real estate is relatively affordable.

The only outliers are three exclusive areas—Palm Jumeirah, Emirates Hills, and Jumeirah Bay Island—with house prices costing more than 20 times the average yearly income.

What’s Driving Demand for Dubai’s Luxury Homes?

Dubai’s luxury home sale boom continues as millionaires flock to the Emirates in search of second addresses in the city’s most exclusive enclaves. 

“The meteoric rise of Dubai’s multi-million-dollar homes market over the course of the last two years has been phenomenal. The performance at the top of the market clearly demonstrates the arrival of Dubai as a luxury hub to rival long-established markets elsewhere, with no sign to suggest a slowdown in the seemingly relentless demand from global ultra-high-net-worth-individuals zeroing in on the emirate in search of second homes,” explained Faisal Durrani, Partner, the Head of Middle East Research at Knight Frank.

A study by Henley & Partners predicted that 2023 would see a massive influx of elites and millionaires settling down in the Emirates, with more and more countries now easing travel and quarantine restrictions. 

Case in point: The number of millionaires migrating to the UAE in 2022 was over 4000, which was more than the number of millionaires settling down in the UK, the USA, Australia, Switzerland, etc.

The result: 219 sales of homes worth over $10 million were recorded in 2022, compared to 93 in 2021—a jump of a staggering 135%.

High-net-worth individuals and the richest international buyers are vying for luxury properties in the three neighbourhoods of Dubai, despite the soaring prices. 

However, the demand for properties has slumped in other cities.

Despite a surge of 49.4% in property price in 2022, Palm Jumeirah remains Dubai’s star performer, making record-high sales of villas and luxury apartments.

Palm’s world-class amenities, private beach access, glittering waterfront views, and tranquil settings has made it top the ultra-high-net-worth customers’ list.

Luxury Interior Design in Dubai

With contemporary designs dominating the Dubai luxury market now, high-end interior design studios are introducing new design styles and ideas to transform exclusive spaces into exquisite residences.

Bringing out the best of both worlds—interior design and architecture—a class-leading interior design studio like Accouter aims to embody the true spirit of design excellence.

Wrapping up

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Computers & Software Professional Services Technology U.K

Mitigating Cloud Security Risks During Migration

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The multinational professional services company, PwC, released the annual Digital Trust Insights research for 2023. This research reveals the top cybersecurity trends for organisations in the UK this year. 

And, it will come as a surprise to no one that cloud security is everyone’s biggest concern.

In fact, cloud-based threat vectors are considered a bigger threat this year than compromised endpoints, web applications, or even software programs by 39% of senior executives in the UK.

The Cloud Security Threat From Digital Transformation

According to 33% of senior executives, attacks against cloud management interfaces are expected to go up this year.

The reason why cloud-based threats are such a concern is accelerated digital transformation. This is a belief held by 90% of the senior executives who took part in the survey. 

Several companies are migrating to the cloud, using digital currencies, and moving to e-commerce and digital service delivery as part of their digital transformation. Businesses are also converging IT and operational technologies.

According to the executives surveyed, this rapid adoption is “the biggest cybersecurity challenge their organisation has experienced since 2020.”

In spite of the high levels of concern, around two-thirds of the senior executives say they haven’t fully mitigated the cyber risks they face due to the digital transformation.

So, of course, cloud technology and migration are being looked at with concern.

If you’re one of the people who are worried about your organisation’s cybersecurity because of cloud migrations, it’s not all bleak and hopeless. There are ways of ensuring security when your business decides to move to the cloud.

Tips to Ensure Secure Cloud Migration

Create a Migration Plan

A rushed migration can be bad for so many reasons, and data security is one of the major ones. When you start the process, it’s best to migrate low-priority data first. That gives your team time to get used to the new system without risking important information.

That will also give you time to test the system for security. At this point, if you find security gaps, you can fix them without stressing about losing sensitive data.

Migrating in phases also gives you time to do things slowly, in a considered way. As you know, rushing through a process makes you more likely to make mistakes. And, threat actors are lying in wait, ready to exploit any errors in your systems, processes, or software.

Consolidate Your Threat Prevention Cloud Tools

When you were protecting your company from cyber threats on your company’s premises, it was relatively easy. You mainly needed a secured network. All employees went through that single point, making it easier to manage threats.

With cloud-based systems, ensuring cybersecurity becomes slightly more difficult. Each cloud service you use, each user who accesses these services, each employee and new data storage, and each application operating in the cloud is a potential “entry point”.

You need a threat prevention tool that covers a broader range of security issues. That way, you don’t have to manage multiple applications and still get better visibility across your cloud systems.

Thoroughly Understand Your Compliance Needs

This is especially necessary when you’re in a highly-regulated sector. However, even if you’re not, you need to know your industry’s requirements for data encryption, backup, and transfer.

This will save you not only from the wrath of regulatory bodies but also make it difficult for threat actors to fly in and steal valuable data.

Perform Regular Risk Management Exercises

The best way to ensure cybersecurity is through prevention rather than mitigation and remediation. Regular vulnerability scans and services like DigitalXRAID’s Cloud Penetration Services will help you keep on top of any exploitable chinks in your cloud service’s armour.

Also, review your API security stacks and consider investing in a virtual SOC service if you don’t have an in-house cybersecurity team.

Find a Trusted Cloud Security Advisor

Cloud security misconfigurations can be disastrous. To ensure proper security and to get the benefit of industry best practices, find yourself an expert to help you transition to the cloud safely and securely.

So, there you have it. Digital transformation is not all that scary when you have a solid plan in place. Do your due diligence and plan the process well to keep your business safe through cloud migration.