Latest news with #AED75
Arabian Post
30-05-2025
- Business
- Arabian Post
TAQA Commits Over AED37 Billion to Power Abu Dhabi's Data Centre Expansion
Arabian Post Staff -Dubai Abu Dhabi National Energy Company has unveiled plans to invest more than AED37 billion to meet the escalating power demands of the emirate's expanding data centre and artificial intelligence infrastructure. The announcement was made by Group CEO and Managing Director Jasim Husain Thabet during the World Utilities Congress 2025. This substantial investment is integral to TAQA's strategy to deliver clean, certified, and reliable energy to critical infrastructure. The company aims to support Abu Dhabi's ambition to become a global hub for digital innovation and AI development. ADVERTISEMENT TAQA's market capitalisation stands at approximately AED360 billion, positioning it among the top five companies in electricity generation, transmission, and water desalination across Europe, Africa, and the Middle East. Operating in 25 countries, TAQA has doubled its electricity production capacity to 56 gigawatts over the past four years, surpassing the total electricity consumption of the United Kingdom. The company's growth strategy includes significant international acquisitions. TAQA recently partnered with Mubadala to acquire an 875-megawatt gas-powered electricity station in Uzbekistan, aiding the country's energy transition and opening new markets in Central Asia. Additionally, TAQA has acquired Transmission Investment, a leading UK-based energy and utility investment platform, enhancing its capabilities in offshore transmission services and infrastructure development. In collaboration with Masdar, where TAQA holds a major stake, the company is developing 5 gigawatts of solar energy supported by 19 gigawatt-hours of battery storage. This integrated solar and battery system is designed to deliver a continuous supply of 1 gigawatt for 24 hours, marking it as the largest project of its kind globally. TAQA plans to invest AED75 billion by 2030 to triple its electricity generation capacity to 150 gigawatts. Part of this strategy includes developing water desalination plants with a combined capacity of 1.3 billion gallons per day, with two-thirds utilising highly efficient reverse osmosis technology. The company is also exploring acquisition opportunities in the United States, identifying it as a key market for expansion. TAQA aims to spend around $20 billion between 2023 and 2030 on organic and inorganic growth, targeting 150 gigawatts of capacity by the end of that period, up from around 56 gigawatts currently.
Arabian Business
23-04-2025
- Business
- Arabian Business
Dubai property giant launches new $20bn ‘Azizi Milan' community
Azizi Developments has unveiled its new master-planned community, Azizi Milan, at a launch event held on April 23, 2025, at Dubai's Coca-Cola Arena. The event welcomed over 10,000 guests and featured performances by Tamer Hosny, Nora Fatehi and Sunidhi Chauhan. Spanning 40,350,000 square feet, the development will be one of the UAE's largest mixed-use communities, accommodating a population of 144,000 and incorporating 800 hotel keys. Azizi unveils new AED75 million Milan-inspired community in Dubai The project draws inspiration from Milan's cultural heritage and aims to become the Middle East's fashion capital with dedicated pedestrian-only fashion streets for perfumery, cosmetics, bags, and dress fashion. These areas will feature high-fashion brands, boutique shops, cafes, restaurants, and nightlife entertainment venues. 'Much like the famed city of Milan, known for its beauty and elegance, Azizi Milan will embody the spirit of Italian living, right here in our home – Dubai. We have put a lot of thought into every detail, thinking about public spaces and community areas as well as creating homes that are as sophisticated and sustainable as they are welcoming. As with our other major projects, we are committed to building world-class homes and infrastructure that elevate the lifestyles of all those who will visit, live and work in what will soon be the classy, tasteful, and sustainable fashion capital of the Middle East. It is His Highness Sheikh Mohammed bin Rashid Al Maktoum UAE Vice President, Prime Minister and Ruler of Dubai, who through his unparalleled visionary leadership has nurtured the emirate into the high-in-demand city that it is today, and it is with pride that we will help satiate that demand with our largest-yet community, Azizi Milan,' Mirwais Azizi, Founder and Chairman of Azizi Developments said. The development emphasises sustainability as a zero-carbon community. Each building will feature rooftop gardens, with exotic trees and flowers planted across roofs, podiums, and surrounding areas. The company plans to offset emissions by supporting the landmark mangrove carbon project and global forest and solar developments certified by VERRA and the Gold Standard. Azizi Milan will include residential projects, a mall, luxury hotels, retail districts, office spaces, schools, nurseries, mosques, wellness facilities, and parks. Its tallest towers will rise up to 70 stories, while low- to mid-rises of 25 to 35 stories will create a more tranquil residential atmosphere. Located on Sheikh Mohammed Bin Zayed Road (E311), the community offers connectivity to Abu Dhabi, Dubai, Sharjah, Ajman, and Ras Al Khaimah, with the nearest future Blue Line metro station less than five minutes away by foot.
Trade Arabia
23-04-2025
- Business
- Trade Arabia
Azizi unveils $20bn Milan 'style' master-planned community
UAE-based Azizi Developments has unveiled Azizi Milan, a landmark master-planned community being set up at an investment of over AED75 billion ($20.4 billion), on the Sheikh Mohammed Bin Zayed Road (E311) – one of the UAE's most important arteries that connects Abu Dhabi, Dubai, Sharjah, Ajman and Ras Al Khaimah. Azizi Milan is a dynamic, self-sustaining haven with residential projects, a sprawling mall, luxury hotels, retail districts, office spaces, and lifestyle amenities, including schools, nurseries, mosques, wellness facilities, and parks. Its tallest towers, which will shape the northern skyline, will rise up to 70 stories high, while low- to mid-rises from 25 to 35 stories make up the central part of the development, easing the shift into a quieter, more tranquil residential atmosphere, said the developer. The layout incorporates centric planning principles allowing people to move easily, minimizing congestion and overcrowding. In addition, a picturesque canal will provide a unique waterfront setting for those who will call this prestigious city their new home, it stated. Slated to cover 40 million sq ft in gross floor area (GFA), Azizi Milan is one of the largest mixed-use communities in the entire UAE, said the Emirati developer. The master plan will boast a total of 81,200 residential units that will be home to a population of 144,000 along with hotels with 800 keys. Inspired by the timeless beauty of Milan, the project is guided by the principles of sustainability, nature, and the cultured refinement of Italian fashion. The project will be officially launched today (April 23) at a gala event in Dubai's renowned Coca-Cola Arena, featuring headlining performances by Tamer Hosny, Nora Fatehi and Sunidhi Chauhan. On the launch, Founder and Chairman Mirwais Azizi said: "Much like the famed Italian city of Milan, known for its beauty and elegance, this project will embody the spirit of Italian living, right here in our home - Dubai." "We have put a lot of thought into every detail, thinking about public spaces and community areas as well as creating homes that are as sophisticated and sustainable as they are welcoming," he noted. According to him, Azizi Milan had been conceptualised with inspiration from the Italian city's rich cultural heritage. "Its bold arches and design elements add to aesthetics as well as function. The community embodies Italian sophistication, inviting future homeowners to immerse themselves in a lifestyle centered around living life to the fullest, where the beauty of everyday moments and simple pleasures are truly appreciated," explained Azizi. Azizi Milan is poised to become the fashion capital of the region with its network of pedestrian-only fashion streets – each dedicated to their own realm of fashion, including one for perfumery, one for cosmetics, and more for bags, dress fashion, and beyond, he added. The Emirati developer said sustainability was a key consideration that guides the entire development of this contemporary zero-carbon community.
Zawya
23-04-2025
- Business
- Zawya
UAE: Azizi unveils $20bln Milan 'style' master-planned community
UAE-based Azizi Developments has unveiled Azizi Milan, a landmark master-planned community being set up at an investment of over AED75 billion ($20.4 billion), on the Sheikh Mohammed Bin Zayed Road (E311) – one of the UAE's most important arteries that connects Abu Dhabi, Dubai, Sharjah, Ajman and Ras Al Khaimah. Azizi Milan is a dynamic, self-sustaining haven with residential projects, a sprawling mall, luxury hotels, retail districts, office spaces, and lifestyle amenities, including schools, nurseries, mosques, wellness facilities, and parks. Its tallest towers, which will shape the northern skyline, will rise up to 70 stories high, while low- to mid-rises from 25 to 35 stories make up the central part of the development, easing the shift into a quieter, more tranquil residential atmosphere, said the developer. The layout incorporates centric planning principles allowing people to move easily, minimizing congestion and overcrowding. In addition, a picturesque canal will provide a unique waterfront setting for those who will call this prestigious city their new home, it stated. Slated to cover 40 million sq ft in gross floor area (GFA), Azizi Milan is one of the largest mixed-use communities in the entire UAE, said the Emirati developer. The master plan will boast a total of 81,200 residential units that will be home to a population of 144,000 along with hotels with 800 keys. Inspired by the timeless beauty of Milan, the project is guided by the principles of sustainability, nature, and the cultured refinement of Italian fashion. The project will be officially launched today (April 23) at a gala event in Dubai's renowned Coca-Cola Arena, featuring headlining performances by Tamer Hosny, Nora Fatehi and Sunidhi Chauhan. On the launch, Founder and Chairman Mirwais Azizi said: "Much like the famed Italian city of Milan, known for its beauty and elegance, this project will embody the spirit of Italian living, right here in our home - Dubai." "We have put a lot of thought into every detail, thinking about public spaces and community areas as well as creating homes that are as sophisticated and sustainable as they are welcoming," he noted. According to him, Azizi Milan had been conceptualised with inspiration from the Italian city's rich cultural heritage. "Its bold arches and design elements add to aesthetics as well as function. The community embodies Italian sophistication, inviting future homeowners to immerse themselves in a lifestyle centered around living life to the fullest, where the beauty of everyday moments and simple pleasures are truly appreciated," explained Azizi. Azizi Milan is poised to become the fashion capital of the region with its network of pedestrian-only fashion streets – each dedicated to their own realm of fashion, including one for perfumery, one for cosmetics, and more for bags, dress fashion, and beyond, he added. The Emirati developer said sustainability was a key consideration that guides the entire development of this contemporary zero-carbon community. Lined with an ample number of high-fashion brands and boutique shops, as well as numerous cafes, fine-dining restaurants, and nightlife entertainment options, Azizi Milan will form a focal point for those who enjoy the city's vibrant after-hours, as well as for those wanting to be part of internationally acclaimed fashion shows and other high-caliber events that will be hosted there, it stated. Azizi Milan follows the successful blueprint, construction and sales of Azizi's Riviera in MBR City, and Azizi Venice in Dubai South, with Azizi Developments serving as the master developer, overseeing road networks and general infrastructure. It is set for sales launch tomorrow. it added.- TradeArabia News Service Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
Hi Dubai
22-04-2025
- Business
- Hi Dubai
Emirates Islamic Posts Record AED1 Billion Quarterly Profit During Q1 2025
Emirates Islamic has reported a record quarterly profit of over AED1 billion for the first time, marking a 24% year-on-year increase in Q1 2025. This milestone underscores the bank's strong financial momentum amid continued positive business sentiment in the UAE. The bank's total income rose 8% to AED1.45 billion, driven by growth in both funded and non-funded income streams. Operating profit also climbed 5% compared to the same period last year, while the net profit margin remained healthy at 3.85%. Supporting this growth, Emirates Islamic saw its total assets increase by 11% to AED123 billion. Customer financing rose 7% to AED75 billion, while customer deposits grew by 8%, reaching AED83 billion. The solid results reflect the bank's effective strategy and its ability to capitalise on a stable economic environment. News Source: Emirates News Agency
