
UAE's Space42 opens Middle East's first high altitude platform stations factory
The 4,500-square-metre facility, operated by Space42 subsidiary Mira Aerospace, will produce more than 20 unmanned aerial vehicles (UAVs) annually for civil, environmental, and defence applications, supporting the UAE's National Space Strategy 2030 and economic diversification efforts.
Space42 expands aerospace leadership
'As the global demand for HAPS accelerates, Space42 is making strategic investments to strengthen our leadership in this growing market,' said Khaled Al Marzooqi, CEO of Mira Aerospace, Space42.
'The decision to build our new HAPS manufacturing facility in Abu Dhabi reflects our commitment to creating reliable, cost-effective systems with advanced space technology and plays a central role in developing sovereign capabilities that support our long-term business objectives and the UAE's broader economic goals,' he added.
The facility marks a strategic milestone in positioning the UAE at the forefront of sovereign aerospace and space-based connectivity innovation, according to the company. The company said the UAE is currently the only country in the Middle East with domestic aerospace manufacturing capabilities.
The HAPS facility is part of the company's broader investments in vertically integrated manufacturing and data infrastructure. The company is also collaborating with ICEYE, a specialist in synthetic aperture radar technology, to co-produce Earth Observation satellites in the UAE.
In February 2025, Mira Aerospace partnered with XRANGE to establish a permanent testing hub for high-altitude, long-endurance UAV trials. The company claims to be the first in the world to demonstrate 5G connectivity from the stratosphere using heavier-than-air HAPS.
Space42 was established in 2024 following the merger between Bayanat and Yahsat, and is listed on the Abu Dhabi Securities Exchange (ADX: SPACE42). Its major shareholders include G42, Mubadala and IHC.

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


The National
2 minutes ago
- The National
India's Titan to buy 67% stake in Damas to expand Gulf presence
Indian jeweller Titan will acquire a 67 per cent stake in Dubai-based luxury jewellery retailer Damas for an enterprise value of Dh1.04 billion ($283.2 million) as it seeks to expand its presence in the Gulf. It has signed a share sale and purchase agreement with Damas International, UAE, a wholly owned subsidiary of Qatari conglomerate Mannai Corporation, for the stake, Titan said in a statement to the National Stock Exchange of India, where its shares are listed. On completion of the acquisition, Titan Holdings will hold 67 per cent of the equity share capital and voting rights in Damas and will have a path to acquire the remaining 33 per cent stake from Mannai after December 31, 2029, subject to conditions, the statement said. The completion of the proposed transaction is subject to certain precedent conditions and approvals from antitrust and other regulatory authorities. The transaction is expected to be financed through a combination of debt, cash balances and internal accruals, Titan said. 'After successfully establishing Tanishq in the GCC countries and the US, our ambition for a global jewellery play is moving to the next stage,' CK Venkataraman, managing director of Titan, said. 'The acquisition not only creates a significant new global opportunity for Titan but also enhances our overall position in the jewellery market in the GCC countries and brings in multiple synergy benefits in talent, retail networks and supply chain.' Watch: Dubai's gold traders say demand for raw product up amid broader sales slump Persistent central bank demand, geopolitical tension, sanctions, trade friction and further US dollar weakness are expected to continue supporting gold prices in the second half of the year, analysts say. Gold has climbed more than a quarter this year. Titan, a joint venture between the Tata Group and the Tamil Nadu Industrial Development Corporation, commenced its operations in 1987 under the name Titan Watches. In 1994, Titan diversified into jewellery with the Tanishq brand and subsequently into eye care. Damas Jewellery, a premier jewellery retailer, was founded in 1907 and is headquartered in Dubai. It has a network of 146 stores across the Gulf countries. The jeweller houses both in-house collections and international labels and posted revenue of Dh1.46 billion for the financial year 2024. The transaction is 'strategically significant' for Titan's jewellery business as it will enable expansion across six Gulf countries, the statement said. The current Graff Monobrand franchise business of Damas will be discontinued before completion of the proposed transaction, it added. Mannai is a publicly listed company headquartered in Qatar, whose activities are mainly focused on trade and IT services. Damas, which completed a Dh3 billion debt restructuring in 2011, became a subsidiary of Mannai in 2012. The Qatari company will use the sales proceeds to strengthen resources for further expansion of its core trade and IT services businesses and reduce group debt, the statement said. Alekh Grewal, group chief executive of Mannai, said the company would continue to own a minority stake in Damas for the next four years as 'growth plans are taken forward'. As per the proposed transaction, Damas (UAE) will be restructured to Signature Jewellery Holding, a DIFC entity, which will become a holding company after acquiring the fully-paid shares of Damas and its subsidiaries, Titan said in the statement. 'Currently, Damas is the holding company for the entire jewellery business of Mannai Corporation. Post restructuring, Signature Jewellery Holding will become the holding company for Damas, and all the entities under Damas (UAE) will become step-down subsidiaries of Signature Jewellery Holding,' the company added.


Gulf Business
11 minutes ago
- Gulf Business
Beyond the bargains: What makes Dubai Summer Surprises stand out?
Image credit: Supplied Dubai Summer Surprises (DSS) 2025 has officially launched, transforming the city into a hub of excitement, unbeatable retail offers, family entertainment, and mega prize opportunities for residents and visitors over the next nine weeks, reinforcing Dubai's position as a leading global summer destination. Read- For the first time in its history, DSS introduces three specially curated retail seasons aligned with the summer rhythm, ensuring continuous activity across Dubai's malls, attractions, hotels, and dining destinations while supporting the city's vision under the D33 economic agenda. Three retail seasons, one unmissable summer Shoppers can explore three consecutive retail windows under DSS 2025: Summer Holiday Offers (27 June–17 July): Kicking off the season with early promotions, citywide raffles, and savings of up to 75 per cent across leading brands. Great Dubai Summer Sale (18 July–10 August): Bringing the season's deepest citywide discounts of up to 90 per cent off, alongside exclusive flash sales and grand raffles. Back to School (11–31 August): Focused on school essentials, family needs, and promotions with opportunities to win scholarships towards school fees. 'Dubai Summer Surprises 2025 has been designed to bring unmatched value to our residents and visitors while ensuring every part of the summer has something new to offer,' said Mohamad Feras, AVP Retail & Strategic Alliances at Dubai Festivals and Retail Establishment (DFRE). 'Each season within DSS has been curated with a clear purpose, ensuring that as families, residents, and tourists move through the summer, there is always something to look forward to in Dubai.' Back to School: Supporting families across the city The final phase of DSS 2025, Back to School (11–31 August), focuses on easing the financial and logistical pressures of the new school year, with promotions on school supplies, technology, clothing, and essentials, alongside scholarship raffles for families. 'Back to School season is a critical time for families, and we want to ensure that DSS plays a role in making it smoother, more affordable, and even joyful,' Feras explained. 'We are not just supporting shopping; we are supporting families as they prepare for a new academic year.' Aligning with Dubai's vision and economic agenda DSS 2025 aligns with Dubai's D33 Economic Agenda, reinforcing the city's position as one of the world's best places to live, work, and visit through vibrant retail, tourism, and entertainment offerings. 'DSS plays an important role in driving Dubai's retail economy while ensuring residents and visitors experience the city in its full vibrancy,' Feras emphasized. 'It showcases how Dubai can be a world-class summer destination, providing value while creating joy.' Strategic partnerships powering DSS 2025 Dubai Summer Surprises 2025 is supported by Key Sponsor Commercial Bank of Dubai and Strategic Partners, including Al Futtaim Malls (Dubai Festival City Mall & Festival Plaza), Al Zarooni Group (Mercato Shopping Mall), AW Rostamani Group, DHAM (Al Seef, Bluewaters, Ibn Battuta Mall, Nakheel Mall, and The Outlet Village), Emirates Airline, ENOC, e&, Majid Al Futtaim (City Centre Deira, City Centre Mirdif, Mall of the Emirates), Merex Investment (City Walk and The Beach, JBR), and talabat. 'Our partners are critical to the success of DSS 2025, ensuring the festival reaches every community and every visitor with a consistent, high-quality experience,' said Feras. Citywide festival of shopping and entertainment Running for nine weeks across over 1,000 brands and 3,500 retailers, DSS 2025 promises citywide savings paired with immersive family-friendly activations, exclusive entertainment, and prize-winning opportunities. 'These three shopping seasons anchor DSS 2025, creating a summer that is not only about shopping but about shared experiences, excitement, and community connection,' Feras added. 'Dubai has always been a city that thrives on experiences, and DSS is designed to ensure every shopper can feel that.' The Great Dubai Summer Sale: Mega deals and mega prizes The Great Dubai Summer Sale (GDSS), from 18 July to 10 August, sits at the heart of DSS 2025, offering the deepest discounts of the summer, with up to 90 per cent off during limited-time flash sales and citywide offers. Shoppers spending Dhs300 or more at participating outlets can take part in the GDSS Shop, Scan and Win promotion, entering a draw to win Dhs1m in cash or a brand-new Nissan Patrol, ensuring every shopping trip has the potential to transform a customer's summer. 'This is not just about shopping; it is about making memories and creating life-changing moments for our shoppers,' Feras noted. 'The GDSS Shop, Scan and Win campaign gives shoppers the chance to walk away from a day of shopping with their lives changed forever.' Skywards Everyday members can amplify their DSS experience by earning 25 per cent bonus Miles on all eligible transactions and will also stand a chance to win a share of one million Skywards Miles with spends of Dhs100 or more at participating Skywards Everyday and Skywards Miles Mall partners. Exciting flash sales and limited-time offers To maintain high energy throughout DSS, a series of exclusive flash sales and limited-time events will be rolled out, including: GDSS 12 Hour Sale GDSS Daily Surprises GDSS Gold & Jewellery Flash Sale GDSS Beat the Clock with Rivoli Group GDSS Shop for Free Weekend with Al Jaber Optical GDSS Dubai Hills Mall One Day Sale GDSS Final Sale 'Flash sales add an element of surprise and anticipation to the shopping experience,' Feras shared. 'They create moments that shoppers can plan for, get excited about, and share with family and friends.' Opportunity to win big across Dubai's malls Shoppers across Dubai will also have the chance to win big through citywide raffles and exclusive rewards throughout DSS: One million SHARE points at Majid Al Futtaim malls, including instant 5 per cent cashback at City Centre Mirdif and City Centre Deira, and up to 20X SHARE Points at Mall of the Emirates. Dhs10,000 in Tickit rewards at participating retail partners. A Polestar 4 LRSM at Dubai Festival City Mall. A Soueast S06 SUV at Dubai Outlet Mall. The DSS Lucky Receipt promotion at participating malls, offering instant rewards until July 17. 'This is truly a summer where shopping goes beyond the transaction,' said Feras. 'It becomes about the chance to win, the chance to experience something new, and the chance to walk away with prizes that can redefine your year.' Record-breaking raffles for DSS 2025 This year's DSS also features Dubai's largest summer raffles, ensuring that shoppers have even more reasons to participate: The Dubai Shopping Malls Group DSS Raffle will award nine brand-new cars. The Dubai Gold & Jewellery Group Raffle will distribute 30 gold bars to 30 winners. The Visa Jewellery Programme will grant 50 winners a share of AED 175,000 in jewellery vouchers. 'These raffles are a testament to Dubai's commitment to rewarding its community and visitors,' Feras commented. 'When we say DSS offers one of the world's most rewarding summer shopping experiences, we mean it.' Dubai: The ultimate summer destination As DSS 2025 unfolds, residents and visitors can expect a summer packed with exclusive offers, vibrant entertainment, family activities, and endless opportunities to win, making Dubai the ultimate summer destination for shopping and leisure. 'We invite everyone to join us this summer,' concluded Feras. 'Whether you are looking for unbeatable deals, world-class entertainment, family activities, or the chance to win life-changing prizes, DSS 2025 is here to ensure that Dubai remains the best place to be this summer.'


The National
32 minutes ago
- The National
Sheikh Mohammed bin Rashid issues Dubai law on Emirati housing disputes
Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, on Monday issued a law to settle disputes arising from citizen housing building contracts in the emirate. The legislation is aimed at efficiently resolving disputes without stalling property developments. It follows a series of policies announced in Dubai to support housing for Emiratis. In January, Sheikh Mohammed approved a 30,000-unit housing project worth Dh5.4 billion ($1.47 billion) for young Emiratis who have or plan to have families. In March, Dubai Municipality launched the Home First initiative to enhance housing facilities for Emirati families and cut bureaucracy on residential planning. Amicable solutions The new law goes one step further, aiming to develop a dispute resolution system for building contracts that safeguards the interests of all parties. The law establishes a branch within Dubai Courts' Centre for Amicable Settlement of Disputes. This branch will offer mediation within 20 days, extendable for another 20 days with mutual consent. If mediation fails, a committee comprising a judge and two specialists will adjudicate within 30 days. The law takes effect on January 1, 2026. Central to the law is the effort to eliminate interruptions to the building of homes for Emiratis. 'The law for settling disputes arising from the execution of citizen house building contracts reflects Dubai Courts' continuing commitment to enhancing the efficiency of the judicial system and ensuring all parties have access to swift justice,' said Saif Ghanem Al Suwaidi, director general of Dubai Courts. He added that the law fosters an amicable and timely legal settlements facilitated by judges and experts.