Latest news with #Dh360
Al Etihad
02-06-2025
- Business
- Al Etihad
ADJD ends disputes in Wahat Al Zaweya, Wahat Yas real estate projects
2 June 2025 12:25 ABU DHABI (WAM) The Abu Dhabi Judicial Department (ADJD) has successfully completed a comprehensive settlement of all disputes related to the Wahat Al Zaweya and Wahat Yas real estate projects, disbursing nearly one billion dirhams in financial entitlements to is part of the department's ongoing efforts to enhance the efficiency of the judicial system and uphold rights through fair and transparent settlement detail, the judicial committee concluded all lawsuits and enforcement files submitted against Wahat Al Zaweya Investment and Real Estate Development Company, totalling 1,348 cases. Financial entitlements amounting to Dh983,721,217 were disbursed to settlements in Wahat Al Zaweya project included resolving a major file submitted by a bank against the company, which resulted in an agreement to reschedule a debt of Dh360 negotiations with several buyers led to agreements to continue existing contracts, supporting stability in related real estate settlements and communications paved the way for the resumption of construction works at Wahat Al Zaweya, in accordance with procedures approved by the Abu Dhabi Real Estate project has been divided into 14 phases, and the company is now required to deposit all purchase payments into an escrow account supervised by the Wahat Yas, the judicial committee resolved a dispute between Wahat Yas Real Estate Development Company and Wahat Al Zaweya Investment and Development Company over a plot of land in Al Raha Beach related lawsuits and enforcement files—53 in total—were also both projects, the dispute resolution process involved issuing 1,043 settlement reports, executing 1,237 disbursement transactions, holding 85 meetings, and documenting 167 correspondences with partners. These organised and thorough procedures reflect the Judicial Department's commitment to delivering effective solutions that strengthen confidence in Abu Dhabi's investment and real estate environment.
Al Etihad
29-05-2025
- Business
- Al Etihad
Abu Dhabi's data centre industry power investments to exceed Dh37 bn: TAQA CEO
29 May 2025 23:57 ABU DHABI (WAM)Abu Dhabi National Energy Company (TAQA) is poised to significantly bolster Abu Dhabi's burgeoning data and artificial intelligence hub, with its CEO and Managing Director announcing that total investments to support the power needs of the data centre industry in the emirate will exceed Dh37 announcement aligns with TAQA's broader strategy to provide clean, certified, and reliable energy for critical to WAM on the sidelines of the World Utilities Congress 2025, Jasim Husain Thabet, TAQA's Group Chief Executive Officer and Managing Director (GCEO & MD) highlighted the company's robust growth and strategic a market capitalisation estimated at approximately Dh360 billion, TAQA stands among the top five companies in Europe, Africa, and the Middle East for electricity generation, transmission, and water desalination, operating across 25 the past four years, TAQA has impressively doubled its electricity production capacity to 56 gigawatts, surpassing the total electricity consumption of the United Kingdom. Recent strategic moves include the acquisition of an 875-megawatt gas-powered electricity station in Uzbekistan, in partnership with Mubadala, supporting Uzbekistan's energy transition and opening new Central Asian TAQA's acquisition of "Transmission Investment," a leading UK-based energy and utility investment enhancing its clean energy portfolio, TAQA is currently constructing a 1-gigawatt gas turbine power station. In collaboration with Masdar, where TAQA holds a major stake, the company is also developing 5 gigawatts of solar energy backed by 19 gigawatt-hours of battery storage. This integrated solar and battery system, designed to deliver a continuous supply of 1 gigawatt for 24 hours, will be the largest project of its kind aims to invest Dh75 billion by 2030 to triple its electricity generation capacity to 150 gigawatts, he said. As part of this growth strategy, the company also plans to develop water desalination plants with a combined capacity of 1.3 billion gallons per day, with two-thirds utilising highly efficient reverse osmosis technology.
Gulf News
28-04-2025
- Business
- Gulf News
Dubai gold price drops - again - ahead of April 30's 'Akshaya Trithiya'
Dubai: The Dubai gold rate is dropping – and it couldn't be happening in a better week for shoppers out there. A gram of 22K is at Dh367 (and Dh396.25 for 24K) and showing signs that there could be more price dips in the next 24-48 hours. These are the lowest levels in the last 7 days, and there remains a good chance that the Dubai gold price could end up around Dh360. Will these be enough to turbo-charge a clear spike on April 30 and the Indian gold buying festival of 'Akshaya Trithiya'? Based on trends, gold retailers say that UAE resident-shoppers are back in the game. 'There have been early bookings to ensure price lock-ins ahead of the actual April 30 purchase,' said a jeweler. 'That's been clear during the last weekend, and there is hope of the price lowering further.' How has Dubai gold price fared? It's only in comparison over the last 7 days that the current Dubai gold rate is more buyer-friendly. The lowest since March 30 has been Dh331.5 for 22K (Dh356.25 for 24K) on April 7. 'But a lot has changed in April itself, first with the US announcement of tariffs, then the dollar weakening after some of President Trump's remarks, and other factors,' said a commodities analyst. (In between Dubai gold rate had even soared to Dh388 for 22K and over Dh400 for the 24K kind.) 'So, today's current price of Dh367 is still a good level for an investment.' Lower making charges – and gold coins Shoppers are checking out all the promotions that are there, whether it's retailers slashing making charges and offering gold coins on a minimum purchase. "Retailers are rushing out with up to 50% cuts in making charges, or even removing it altogether on some gold coin purchases," said a jeweller. "If shoppers are assured that they are getting more dirham savings on making charges, then the actual price of a buy looks even more reasonable." Bullion trades In the global metals market, bullion is trading is at $3,280 an ounce, well down on the $3,318 it closed at on Friday last. Another $30-$50 an ounce drop puts the ball in shoppers' favour- they haven't had a favourable run for weeks now.
Gulf Insider
28-04-2025
- Business
- Gulf Insider
Dubai Gold Price Drops Ahead of April 30's Akshaya Trithiya
The Dubai gold rate is dropping – and it couldn't be happening in a better week for shoppers out there. A gram of 22K is at Dh367 (and Dh396.25 for 24K) and showing signs that there could be more price dips in the next 24-48 hours. These are the lowest levels in the last 7 days, and there remains a good chance that the Dubai gold price could end up around Dh360. Will these be enough to turbo-charge a clear spike on April 30 and the Indian gold buying festival of 'Akshaya Trithiya'? Based on trends, gold retailers say that UAE resident-shoppers are back in the game. 'There have been early bookings to ensure price lock-ins ahead of the actual April 30 purchase,' said a jeweler. 'That's been clear during the last weekend, and there is hope of the price lowering further.' It's only in comparison over the last 7 days that the current Dubai gold rate is more buyer-friendly. The lowest since March 30 has been Dh331.5 for 22K (Dh356.25 for 24K) on April 7. 'But a lot has changed in April itself, first with the US announcement of tariffs, then the dollar weakening after some of President Trump's remarks, and other factors,' said a commodities analyst. (In between Dubai gold rate had even soared to Dh388 for 22K and over Dh400 for the 24K kind.) 'So, today's current price of Dh367 is still a good level for an investment.' Shoppers are checking out all the promotions that are there, whether it's retailers slashing making charges and offering gold coins on a minimum purchase. 'Retailers are rushing out with up to 50% cuts in making charges, or even removing it altogether on some gold coin purchases,' said a jeweller. 'If shoppers are assured that they are getting more dirham savings on making charges, then the actual price of a buy looks even more reasonable.' In the global metals market, bullion is trading is at $3,280 an ounce, well down on the $3,318 it closed at on Friday last. Another $30-$50 an ounce drop puts the ball in shoppers' favour- they haven't had a favourable run for weeks now. Also read: Dubai Number Plate Fetches $2.27mn at Weekend Auction
Gulf News
24-04-2025
- Business
- Gulf News
Dubai gold price surprises shoppers with near Dh7 jump after 3 days of drops
Dubai: The Dubai gold rate has gained a near Dh7 a gram early today, which will come as a complete jolt to shoppers in the UAE who had been hoping for a third straight day of price softening. The local gold price for a gram of 22K is Dh374.75, while for the 24K version, it's back to over Dh400. (The 24K gram is now at Dh404.65.) Shoppers and gold sellers were hoping to see the Dubai gold rate drop further to around Dh360 for a 22K today as global markets returned to positive territory and there was less hard talk over US tariffs and removing the Federal Reserve Chairman. Between now and May 1 is a crucial period for gold shoppers given that the Indian festival of 'Akshaya Trithiya' falls on April 30. (This along with another Indian festive buying period on 'Dhanteras' and Diwali later in the year represent some of the highest volume sales phase for gold in the UAE, outside of promotions during Dubai Shopping Festival, Dubai Summer Surprises, etc.) Shoppers shouldn't lose heart, gold retailers say, saying there is still time for prices to soften. 'These days, the way gold is moving, anything can change in 24 hours,' said an FX analyst. 'Even within 24 hours.' Correction – but not a crash What shoppers should not be expecting to see is a downright 'crash' in gold prices. 'If in any of these days, gold closes below $3,280 an ounce, that's a crash,' said Anil Dhanak, Managing Director at Kanz Jewels. 'Until then, it's all more of a price correction.' Now, it's interesting that bullion prices did drop to around $3,260 an ounce levels for a brief while in these last few hours before powering up to trade at $3,336 now. That means more of a correction. Earlier this week, the 22K Dubai gold rate was at its highest point of Dh388 as gold prices pummeled its way through to $3,500 an ounce. (And looked good for some more climbs...) Then a lot happened in the US over the week to cool markets down, and gold prices dropped as well. Book or not? The other big question for gold buyers is whether it makes sense to book and lock in prices for Akshaya Trithiya or not. (Booking ensures that they benefit from any price drops between then and the day of booking. If prices shoot higher, then they can still buy at the pre-booked rate. The only condition is the buying must be done in 30 days or so.) "I would say any price around Dh360 a gram would have been good to book," said a shopper, who plans to pick up a couple of gold bars whatever the Dubai gold rate is on April 30. Meanwhile, new jewellery stores keep opening in the UAE, because at the end of the day, resident shoppers and visitors are not going to shed their preference for the yellow metal - or for diamonds. The Indian jewellery retailer Arakkal Gold and Diamonds opened its biggest showroom in Sharjah, at the Safari Mall. Not just that, brought out 500 kilos in new gold designs.
