400 UAE companies benefit from Dh65.7 billion contract awards as ADNOC boosts local economic growth
ABU DHABI (WAM)Nearly 400 local suppliers, contractors and service providers have received contract awards from ADNOC valued at Dh65.7 billion in the first half of 2025 as the company deploys its purchasing power to boost socioeconomic growth, empower businesses and generate long-term value for the nation.The contracts span critical sectors such as drilling, logistics, operational support services, and engineering, procurement and construction (EPC). The contracts demonstrate how ADNOC is prioritising local businesses in its procurement to stimulate private-sector growth and strengthen the resilience of national supply chains through its hugely successful In-Country Value (ICV) programme.Dr. Saleh Al Hashmi, ADNOC Director, Commercial & In-Country Value Directorate, said, 'The award of commercial contracts valued at Dh65.7 billion to a wide range of local suppliers emphasises the extent to which ADNOC's In-Country Value programme continues to propel economic and industrial growth for the UAE."Our contract awards create a ripple effect across the economy, helping us to drive productivity, competitiveness and highly-skilled private sector jobs for local talent. We encourage all our partners and stakeholders to collaborate with us and contribute to the UAE's industrial growth journey.'Among the key beneficiaries of the awards include NMDC Energy, Target Engineering, Al Dhafra Co-operative Society, Arab Development Establishment, Excel Astra Engineering, Robt. Stone, GISCO, and Euro Mechanical & Electrical Contracting. The contract awards reflect ADNOC's commitment to engaging capable national suppliers that can deliver value across its business.Over the next five years, ADNOC plans to channel an additional Dh200 billion ($54.5 billion) into the UAE economy through its ICV program. The company is also aiming to locally manufacture Dh90 billion ($24.5 billion) worth of products in its procurement pipeline by 2030.To broaden access to its commercial opportunities, ADNOC recently launched the Make it with ADNOC mobile app which provides visibility into the company's purchasing needs. The app enables suppliers, SMEs and entrepreneurs to gain a clear pathway to capitalise on its long-term commercial opportunities.Launched in 2018, ADNOC's ICV programme continues to drive economic and industrial growth for the UAE and create private-sector jobs for Emiratis, with over 17,000 jobs created to date.From established suppliers to emerging entrepreneurs, ADNOC invites all local businesses to capitalise on its procurement pipeline and contribute to the nation's long term prosperity.
To learn more about ADNOC's commercial opportunities, visit the company's stand at the Make it in the Emirates Forum, which is taking place from May 19-22 at ADNEC in Abu Dhabi.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
UAE Moments
12 hours ago
- UAE Moments
Your Daily Career Tarot Card Reading for July 26th, 2025
26.7.25 Strength: Drawing this card indicates that if you're willing to make just a bit more effort you can forge ahead now. Whether you're hoping to get a fabulous job or want to expand your business, this is your opportunity to go for it. Yes, you will need to apply yourself and may have to work harder and longer for a while, but it will be worth it.
Gulf Business
16 hours ago
- Gulf Business
Abu Dhabi's most expensive home: Aldar sells mansion for Dhs400m
Image: Supplied Property developer Aldar has set a new benchmark for Abu Dhabi's high-end real estate market, announcing the sale of an eight-bedroom beachfront mansion on Saadiyat Island's Faya Al Saadiyat development for Dhs400m ($109m), the highest-ever recorded price for a residential property in the emirate. The deal comes months after Spanning 6,561 square metres and located within the Saadiyat Beach Golf Club, the mansion offers panoramic views of the sea and surrounding greenery. It includes a private car gallery, golf simulator, cinema, wellness and fitness suites, and a beachfront pool. The interiors were designed by UK-based firm 1508 London and Nordic Office Architects, with an emphasis on open-plan living and minimalist design using local materials. 'This record transaction at Faya Al Saadiyat sets a new benchmark for luxury real estate in Abu Dhabi,' said Jonathan Emery, CEO of Aldar Development. 'It underscores the strong demand for ultra-premium beachfront homes and reflects the success of the emirate's long-term urban and investment strategies.' Aldar mansion sale reflects Abu Dhabi's status as a preferred destination The sale also highlights Abu Dhabi's emergence as a preferred destination for international investors, supported by visa reforms, infrastructure investments, and cultural offerings. In H1 2025, Aldar reported Dhs5bn in property sales on Saadiyat Island alone. Expatriates made up 86 per cent of buyers, with 40 per cent purchasing from overseas. Top nationalities included Russians, French, British, Chinese, and Americans. The new owner of the Dhs400m mansion was not disclosed. Ghazi Saeed Al Ateibi, executive director at the Abu Dhabi Real Estate Centre (ADREC), said: 'Abu Dhabi is a world-leading destination for real estate investment, backed by transparent governance and strong regulation. Transactions of this size signal growing confidence in the maturity of the market.' Faya Al Saadiyat, a gated development of 21 homes, is scheduled for completion in 2028. It includes two mansions and 19 six- and seven-bedroom villas. The community is targeting Estidama 3 Pearl and Fitwel certifications, with sustainability features such as energy-efficient systems and water-saving technologies. Located near the Saadiyat Cultural District, residents will have direct access to key cultural institutions including the Louvre Abu Dhabi and the upcoming Guggenheim Museum, as well as new retail and dining hubs like Saadiyat Grove.
Arabian Business
17 hours ago
- Arabian Business
ADNIC to provide life insurance to Emiratis up to the age of 95
Abu Dhabi National Insurance Company (ADNIC) has launched a specialised life insurance offering for eligible UAE nationals through a strategic partnership with the Sheikh Zayed Housing Program (SZHP). The initiative will provide life insurance coverage up to the age of 95, substantially extending beyond the market norm of 70 years old. This enables Emiratis, aged up to 70, to still qualify for housing loans with a maximum tenure of 25 years, significantly enhancing financial inclusion for older borrowers. ADNIC expands life insurance terms The housing loans under the Sheikh Zayed Housing Program are administered through leading local banks that have been associated with programme since its inception. Charalampos Mylonas, Chief Executive Officer of ADNIC, commented: 'As an insurer working at the very heart of the community, we understand why life insurance is so important as it guarantees families a measure of protection against the adverse financial consequences. 'As such, we're proud to work alongside the Sheikh Zayed Housing Program (SZHP) to give individuals a greater sense of economic security and peace of mind. At ADNIC, our commitment remains to make insurance truly about people by protecting their income, assets, health, and lives.' While the scheme is already active through the participating banks, the signing ceremony marked its official public announcement.
