logo
Al Ansari Exchange Marks a Decade of Giving with 100,000 Iftar Meals Distributed Across the UAE - Middle East Business News and Information

Al Ansari Exchange Marks a Decade of Giving with 100,000 Iftar Meals Distributed Across the UAE - Middle East Business News and Information

Mid East Info27-03-2025
Supporting the 'Year of the Community' by Sustaining a Legacy of Giving During Ramadan
Dubai, UAE – March 2025 – Al Ansari Exchange, the UAE's leading remittance and foreign exchange company and a subsidiary of Al Ansari Financial Services PJSC [DFM: ALANSARI], proudly commemorates ten years of its annual Iftar meal distribution, reaching a milestone of 100,000 meals provided to communities in need across the UAE. In alignment with the UAE's 'Year of the Community 2025,' this year's initiative continues the company's commitment to fostering solidarity and sustainability, with 10,000 meals distributed across all seven Emirates.
Since its launch, this initiative has been an integral part of Al Ansari Exchange's corporate social responsibility efforts, ensuring that individuals and families receive nourishing meals to break their fast. In collaboration with government entities and community organizations, this year's distribution covered 10 locations, reinforcing the company's role in supporting social cohesion and well-being.
'Our Iftar meal distribution embodies the spirit of the 'Year of the Community,' which celebrates the values of unity, generosity, and collective responsibility,' said Hisham Salah Eldin, Head of Business Development at Al Ansari Exchange. 'Reaching the 100,000-meal milestone is a testament to the impact of sustained giving. As we continue this tradition, we remain committed to strengthening our communities and promoting initiatives that create meaningful change.'
'This initiative offers our employees a valuable opportunity to directly contribute to community service and embody the spirit of giving, which resonates deeply with our company's core values', he added.
Through its decade-long Ramadan meal distribution and broader CSR efforts, Al Ansari Exchange remains dedicated to enhancing social welfare and championing sustainability, in line with the UAE's vision for a more inclusive and compassionate society.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

TECOM Group reports robust 22% growth in H1 2025 net profit to AED 737 million driven by strategic expansion and strong performance across business segments
TECOM Group reports robust 22% growth in H1 2025 net profit to AED 737 million driven by strategic expansion and strong performance across business segments

Mid East Info

timea day ago

  • Mid East Info

TECOM Group reports robust 22% growth in H1 2025 net profit to AED 737 million driven by strategic expansion and strong performance across business segments

First-half revenue grows 21% to AED 1.4 billion, underpinned by continued growth in rental rates, strong occupancy rates, and income from strategic assets acquired last year EBITDA increases 24% YoY to AED 1.1 billion with EBITDA margin increasing to 80%, reflecting operational optimisation and sustainable business growth Funds from operations (FFO) grow 17% to reach AED 984 million, led by improved revenue quality and effective management of the Group's portfolio TECOM Group's Board of Directors approves an interim cash dividend payment of AED 400 million for H1 2025 in line with Group's Dividend Policy Dubai, UAE,August 2025: TECOM Group PJSC (DFM: TECOM), (the 'Company' or the 'Group'), the leading developer and operator of specialised business districts across Dubai, announced its financial results for the second quarter (Q2) and first half (H1) of the year ending 30 June 2025. The Group reported robust net profit growth of 22% year-on-year (YoY) to AED 737 million during the first half of this year, with revenue rising 21% YoY to AED 1.4 billion during the period. The strong H1 performance reaffirms TECOM Group's role as a partner of choice for international and regional companies across the six vital sectors served by its 10 specialised business districts, consolidating the UAE's and Dubai's role as a globally leading hub for foreign direct investment. Malek Al Malek, Chairman of TECOM Group, said: 'The UAE and Dubai are continuing their journey of sustainable development, achieving record growth and exceptional accomplishments across all economic sectors. Their success is positively reflected in TECOM Group's H1 2025 performance, demonstrating our fundamental strengths and agility in addressing growing demand from the commercial and industrial market, while focusing on operational efficiency to create long-term value for our shareholders. The Board has approved an interim cash dividend of AED 400 million for H1 2025, aligned with our Dividend Policy.' Abdulla Belhoul, Chief Executive Officer of TECOM Group, said: 'Our financial and operational growth in H1 2025 reflects the success of TECOM Group's roadmap for long-term growth through our recent strategic investments and attracting new customers. The Group's robust performance is a step forward in our journey to enable a sustainable future through our ecosystems, solidifying the UAE's and Dubai's appeal as a global destination for investment and the ease of doing business.' Financial Highlights: AED Million (Unless otherwise stated) H1 YoY% 2025 2024 Revenue 1,389 1,148 21% EBITDA 1,108 896 24% EBITDA Margin 80% 78% 2% Net Profit 737 603 22% AED Million (Unless otherwise stated) Q2 YoY% 2025 2024 Revenue 709 584 22% EBITDA 568 457 24% EBITDA Margin 80% 78% 2% Net Profit 377 311 21% Operational Highlights As of 30 June 2025 30 June 2024 YoY% Commercial and Industrial Occupancy 95% 92% 3% Land Lease Occupancy 99% 96% 3% Number of Customers 12,200+ 11,600+ 5% H1 2025 Financial Highlights: Supported by sustained growth in occupancy levels and rental rates across the Group's portfolio within six vital economic sectors, as well as income generated from strategic asset acquisitions last year, revenue increased 21% YoY to AED 1.4 billion in H1 2025. TECOM Group noted a YoY 24% increase in EBITDA, which reached AED 1.1 billion, maintaining healthy EBITDA margins at 80% (+2% YoY) and reflecting sustainable business growth. Net profit reached AED 737 million, representing YoY growth of 22%, driven by revenue growth, operational optimisation, and efficient capital management. Reflecting effective management of the Group's portfolio, funds from operations (FFO) increased by 17% YoY to reach AED 984 million, supported by consistent collections and improved revenue quality. Underpinned by the appeal of TECOM Group's business districts to international customers, occupancy across the Commercial and Industrial portfolio reached 95% in H1 2025, representing YoY growth of 3%. Occupancy in the Group's Land Lease portfolio reached 99%, marking YoY growth of 3% led by strong customer demand from the industrial sector, accelerated by government strategies such as Operation 300bn, Make it in the Emirates, and Dubai Economic Agenda 'D33'. Dubai Industrial City, part of TECOM Group, is currently reporting strong occupancy rates, cementing its position as the region's leading manufacturing and logistics hub. The Board of Directors approved an interim dividend payment of AED 400 million for H1 2025, in line with the approved Dividend Policy valid until September 2025. A new Dividend Policy will be applied for H2 2025 as previously announced, which includes an expected 10% increase in dividends subject to shareholders' approval at the upcoming Annual General Assembly Meeting. Q2 Financial Highlights: Healthy cash flow growth driven by operational efficiencies as well as high occupancy and retention rates across the Commercial, Industrial, and Land Lease portfolio contributed to revenue of AED 709 million, representing 22% YoY growth. Strong revenue contributions across all business segments resulted in a 24% YoY increase in EBITDA to AED 568 million, while EBITDA margin grew to 80%, an increase of 2% YoY. Net profit increased by 21% YoY to AED 377 million, driven by EBITDA growth and prudent cost management in the second quarter of 2025. H1 2025 Operational Highlights: In April, PayPal opened its first regional headquarters in the Middle East and Africa at Dubai Internet City, the pioneering hub uniting global tech industry leaders and talent which today generates 65% of Dubai's technology sector GDP. In May, Pure Ice Cream commenced construction on its AED 80 million production facility at Dubai Industrial City, cementing its vital contribution towards developing the UAE's industrial sector. Dubai Media City supported the launch of Dubai Press Club's Arab Media Outlook – Future Vision report at Arab Media Summit in May. report at Arab Media Summit in May. Dubai Design District (d3) marked more than a decade of enabling design excellence at a special celebratory event, during which the district launched the d3 Awards, a prestigious award platform to celebrate industry talent in the region. IMCD, a global leader in specialty chemicals and ingredients, expanded its Middle East presence with new offices and Technical Centres in Dubai Science Park in June. In April, Dubai Knowledge Park and Dubai International Academic City showcased business opportunities at China International Education Exhibition Tour as part of a delegation led by Dubai's Knowledge and Human Development Authority (KHDA), in partnership with Dubai Department of Economy and Tourism (DET) and Dubai Chambers. Shari'a Compliance certification: In addition to being on the Shari'a Classification List on Dubai Financial Market, TECOM Group has been awarded Shariah compliance certification by the Shariyah Review Bureau (SRB) for the fiscal period ending 31 March 2025. The Group has appointed SRB as the Sharia Financial Evaluator and Documentation Reviewer to ensure compliance with Shari'a Standards issued by Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) on periodic basis and to assess ongoing compliance with these standards. Sharia Certification is subject to periodic renewal. This disclosure is for informational purposes only and does not constitute an investment recommendation. H1 2025 ESG Highlights: TECOM Group continued its commitment to nurturing sustainability across its ecosystems and raised the number of its LEED-certified buildings to 55 during H1 2025, marking 34% growth compared to H1 2024. The Group made steady progress towards renewable energy adoption, with its solar power projects contributing 8 gigawatt hours (GWh) of clean energy. in5, TECOM Group's start-up incubator, issued 86 licenses across its four verticals dedicated to the technology, media, design, and science sectors in H1 2025. Aligned with the UAE's vision to strengthen gender balance in the private sector, 35.4% of the Group's workforce is comprised of women. In partnership with the Dubai Charity Association, TECOM Group launched the third edition of The Good Store, an innovative platform designed to facilitate seamless charitable contributions during Ramadan and Eid al-Fitr.

Grand Mosque's Electricity Bill Reaches SAR 15 Million Per Month
Grand Mosque's Electricity Bill Reaches SAR 15 Million Per Month

CairoScene

time5 days ago

  • CairoScene

Grand Mosque's Electricity Bill Reaches SAR 15 Million Per Month

A recent report highlights the immense energy demands required to operate the mosque's advanced infrastructure. Mar 25, 2025 The electricity bill for the Grand Mosque in Makkah reaches approximately SAR 15 million per month, depending on the season. The figure, which tends to rise during Ramadan and Hajj due to increased activity, was shared by the state-owned Al Ekhbariya channel in a recent televised segment. The report highlights the immense energy demands required to operate the mosque's advanced infrastructure, which includes 100 megavolt-amperes of daily consumption distributed across several major systems. Among these are over 120,000 lighting units, 883 air conditioning systems, and 4,323 ventilation and misting fans. The cooling system alone operates with a capacity of 155,000 tonnes. Additional facilities supported by this electrical load include 8,000 speakers powering a world-class sound system, more than 8,000 surveillance cameras, 519 escalators, and 100 multilingual interactive screens serving worshippers and visitors.

Union Properties signs AED 700 million sale agreement, paving way for sustainable growth - Middle East Business News and Information
Union Properties signs AED 700 million sale agreement, paving way for sustainable growth - Middle East Business News and Information

Mid East Info

time6 days ago

  • Mid East Info

Union Properties signs AED 700 million sale agreement, paving way for sustainable growth - Middle East Business News and Information

Union Properties PJSC 'Union Properties' or the 'Company' DFM symbol: UPP, has signed a conditional sale agreement valued at AED 700 million for a significant Real Estate project in Motor City. This marks a pivotal milestone in the Company's strategic roadmap, effectively concluding its comprehensive recovery plan which was designed to resolve all legacy debt settlements and restore long-term financial strength. Building on a record AED 1.3 billion in plot sales achieved in 2024 as part of its comprehensive debt restructuring strategy, this latest agreement is expected to be recognized in the Company's Q4 2025 financials. Importantly, the Real Estate project will contribute meaningfully to the continued evolution of MotorCity, one of Dubai's most established and sought-after communities. Structured under a deferred payment framework, the agreement further reinforces Union Properties' disciplined financial approach, with the initial deposit already secured, ensuring strong cash flow visibility and continued balance sheet optimization. Upon completion, the proceeds will enable the Company to fully settle its legacy debt, marking the culmination of a multi-year recovery strategy. This milestone positions the Company to pivot decisively toward a new phase of sustainable growth, strategic capital deployment, and long-term value creation for its shareholders. Eng. Amer Khansaheb, CEO and Board Member of Union Properties, commented on the achievement, stating: 'This transaction is more than a sale – it is a signal of strength. With this transition, we bring our recovery plan to a close, settle all legacy debts, and lay the foundation for a bold new chapter. This milestone reflects not only the trust and confidence of the market in our vision, but also the resilience and discipline of our team in executing one of the most successful turnaround strategies in the sector. Today, we build from a position of strength, focused on strategic development, long-term value creation, and a sustainable impact across the UAE's Real Estate landscape.' Union Properties remains committed to delivering value-driven, market-responsive developments that elevate communities and support Dubai's broader urban vision. As the Company continues to execute its strategic objectives, this landmark transaction signals its resilience, agility, and forward momentum in an increasingly competitive market.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store