Latest news with #Dh450
Arabian Post
19-06-2025
- Business
- Arabian Post
Abu Dhabi Unveils Strategic Mubadala–ADPIC Alliance for Future‑Ready Infrastructure
Greenlogue/AP Mubadala Investment Company and the Abu Dhabi Projects and Infrastructure Centre have formalised a partnership designed to accelerate the emirate's infrastructure agenda. The agreement, inked during the opening of the Abu Dhabi Infrastructure Summit 2025, establishes a broad cooperation blueprint aimed at advancing key development projects. The accord commits both entities to conduct thorough feasibility studies and share knowledge to assess the viability of proposed ventures. It also includes mechanisms for crafting sustainable financing frameworks that align with Abu Dhabi's ambitious urban and economic growth targets. ADVERTISEMENT Maysarah Mahmoud Eid, Director‑General of ADPIC, emphasised that the partnership is set to deliver high‑quality, sustainable projects contributing to long‑term prosperity and meeting the emirate's evolving infrastructure demands. She stated, 'Through our collaboration with Mubadala, we are dedicated to pioneering sustainable, high‑quality projects that will promote economic growth and create lasting infrastructure developments.' Khalifa Al Romaithi, Executive Director of the UAE Real Estate platform at Mubadala, highlighted the initiative's focus on pioneering state‑of‑the‑art infrastructure. He described the collaboration as 'a testament to Mubadala and ADPIC's commitment to support Abu Dhabi Government ambitions in making the emirate one of the world's most liveable and economically resilient cities.' The framework is expected to underpin forward‑looking solutions and detailed project planning, reinforcing the emirate's reputation as an inviting destination for global investment and development. Abu Dhabi is targeting Dh47 billion worth of infrastructure deals with the private sector during the second half of 2025. That initiative complements Dh22 billion in public‑private partnership agreements already secured this year, covering nearly 619 projects under development. ADPIC's roadmap focuses on fast‑tracking delivery timelines—aiming to complete major infrastructure projects, including roads, schools and housing, within a three‑year span by 2026. Meanwhile, the long‑term investment outlook is ambitious. The emirate anticipates backing approximately Dh450 billion in infrastructure initiatives over the next five to ten years, predominantly through PPP arrangements to drive efficiency and diversify the economy. Global partners have already begun engaging in Abu Dhabi's infrastructure strategy. Representatives from the Turkish Contractors Association, including Fuat Kasimcan, noted significant opportunities for Turkish firms in areas such as hospitals, roads and utilities—spurred by the Comprehensive Economic Partnership Agreement between the UAE and Turkey. He remarked, 'There is really big potential for Turkish firms to take part in Abu Dhabi development under the PPP model … We really want to share our expertise.' The Mubadala–ADPIC agreement enhances this international momentum by adding depth to the emirate's approach to infrastructure planning and funding. Central to this is knowledge exchange—covering market trends, risk assessments, and technical standards. This complements sustainable finance efforts, aligning with global investment norms such as green bonds and blended financing. Experts suggest that this alliance mirrors broader global trends, where sovereign investors partner with government‑led infrastructure entities to strengthen public‑private collaboration and maximise project impact. Infrastructure consultancy GlobalData noted that such partnerships enhance transparency, risk-sharing and long-term viability—especially as nations pursue post‑pandemic economic resilience and net‑zero ambitions. As Abu Dhabi intensifies efforts to diversify its economy beyond hydrocarbons, infrastructure has taken centre stage—underpinning growth sectors like logistics, education, healthcare, and tourism. The Mubadala–ADPIC framework supports a holistic ecosystem by ensuring infrastructure projects are meticulously appraised, financed, and executed.
Al Etihad
18-06-2025
- Business
- Al Etihad
Meraas awards Dh450 million contract for Central Park Plaza construction
18 June 2025 15:35 DUBAI (WAM) Meraas, a member of Dubai Holding Real Estate, has awarded a construction contract worth more than Dh450 million to Naresco Contracting LLC for the main construction works of a high-end residential development called Central Park latest addition to City Walk, Dubai's prominent lifestyle destination, is slated to be handed over in Q3 project includes residential complex towers A and B, with 23 and 20 floors respectively, comprising 212 Executive Officer of Dubai Holding Real Estate, Khalid Al Malik, said, 'Central Park Plaza at City Walk is an ideal destination offering a new level of modern lifestyle in the heart of Dubai. This embodies our commitment to developing upscale destinations that prioritise community life and well-being.'
Al Etihad
25-05-2025
- Business
- Al Etihad
UAE's sustainability push sparks hospitality shift, enriches guest experiences: Expert
25 May 2025 23:08 SARA ALZAABI (ABU DHABI)The UAE's increasing emphasis on sustainability is reshaping the hospitality industry, leading to greener and more distinctive guest experiences, an industry expert has told Aletihad. The country is accelerating its efforts to become a leading global tourist destination by 2031, targeting a GDP contribution of Dh450 billion and 40 million annual hotel guests. Along with this vision, however, is a nationwide commitment to environmental protection and conservation."The national focus on sustainability has served as both a mandate and an inspiration for us," Michael Schmitt, General Manager Conrad Dubai, told Aletihad."We view it not as a checkbox but as an opportunity to reimagine how a luxury hotel can operate responsibly."At the five-star Conrad Dubai, for example, single-use plastics have been removed, and fresh produce is used from its own hydroponic farm. Artificial intelligence is also utilised to cut food waste. "Last year alone, we achieved a 61% reduction in food waste, saving over 8,600 meals and preventing 14 tonnes of CO₂ emissions," Schmitt said. "These sustainability efforts are not a trade-off," he stressed. "Guests today are increasingly looking for experiences that reflect their values, but they also expect uncompromised comfort. Our approach is to ensure sustainability enhances the guest journey rather than limits it."This vision is reflected in efforts such as creating carbon-hued menus; refilling toiletries instead of using those packed in single-use containers; and putting up air-to-water hydration stations."We do not ask our guests to make sacrifices. We simply make better choices available," Schmitt said. Going green, he added, can be a smart move from a financial perspective. "When planned effectively, it can improve margins while enhancing the guest experience," he said, citing local sourcing and AI-led waste reduction as the shift in on-the-ground operations, the hospitality industry should also recognise the need to empower future-ready teams. "The foundation lies in creating a purpose-driven culture where diversity, inclusion, and empowerment are not just policies but values lived daily," the expert said. Schmitt believes that the growth of UAE tourism should not come at the expense of the environment."It is entirely possible to scale hospitality without scaling environmental impact," he added that the future of tourism in the UAE will be shaped by "cultural enrichment, digital comfort, and ethical travel". Impact on MICE The UAE's sustainability drive has also had a positive impact on the Meetings, Incentives, Conferences, and Exhibitions (MICE) sector, especially as clients have now shifted their focus "from scale to substance", said Linda Mwaffak, Commercial Director at Conrad Dubai. Clients now want highly personalised, health-aware, and sustainable experiences, she said. "Clients want to know about carbon footprint, waste management, and local sourcing." Cost-effectiveness in eco-goals is essential."Many sustainable choices - like digital menus and reusable décor - reduce waste and long-term costs," she hydroponic farm of the hotel helps minimise expenses as well as the carbon misconceptions around green events, Mwaffak said: "The main challenge is overcoming the idea that sustainable events are either limited in creativity or overly expensive. Once clients see the results, they become long-term advocates." The future of tourism and MICE in the UAE lies in designing smart, scalable, and values-aligned experiences, the expert added.
Al Etihad
04-05-2025
- Business
- Al Etihad
Bin Touq meets with tourism ministers of Spain, Croatia to enhance prospects for cooperation in sector
4 May 2025 13:34 ABU DHABI (WAM)During a European tour that included Spain and Croatia, Abdulla Bin Touq Al Marri, UAE Minister of Economy, met with Tonči Glavina, Minister of Tourism and Sports of Croatia; and Rosario Sánchez Grau, Spanish Secretary of State for Tourism, with the aim of enhancing cooperation in the sector. As part of the discussions, the ministers exchanged the latest experiences and practices in the field of sustainable tourism Touq expressed the UAE's desire to enhance cooperation with European markets and foster fruitful partnerships in various tourism sub-sectors and activities, thereby supporting overall economic development and creating new opportunities for shared pointed out that the tourism sector in the UAE has undergone significant development, characterized by the adoption of forward-looking national initiatives; the establishment of distinguished tourism infrastructure in line with global best practices; the development of leading destinations and tourism products, and an increase in tourist Touq said: 'The UAE continues to support initiatives and projects aimed at sustaining global tourism growth, fostering collaboration with the UN Tourism and its member states, and expanding cooperation in various tourism sub-sectors.'During discussions with the tourism ministers of Spain and Croatia, Bin Touq highlighted the importance of the UAE Tourism Strategy 2031 and its key role in supporting the sustainability and competitiveness of the country's tourism sector over the next strategy has established a set of national objectives, which include elevating the UAE's status to become a leading global destination, increasing the sector's contribution to the national GDP to Dh450 billion, attracting tourism investments worth Dh100 billion to the country's markets, and welcoming 40 million guests by the year Minister of Economy reviewed key performance indicators of the UAE tourism sector, which include a total of Dh45 billion in hotel revenues in 2024 with a three per cent year-over-year growth. The hotel occupancy rate in the country reached 78 %, which is among the highest regionally and globally. Additionally, 16 new hotels were launched across the UAE in 2024, taking the total number of hotels to 1,251 by the end of last his meeting with Rosario Sánchez Grau, Spanish Secretary of State for Tourism, Bin Touq reviewed latest developments in the global tourism sector, the mechanisms to enable sustainable growth, as well as enhancing cooperation in various tourism fields. The two sides explored the potential for establishing new partnerships to increase mutual tourism number of Spanish tourists to the UAE reached 150,231 in 2024, representing an increase of more than 14% compared to that of 2023. The number of flights between the UAE and Spain amount to approximately 48 weekly services, operated by airlines of both Touq and Tonči Glavina discussed enhancing cooperation between tourism companies and entities in the UAE and Croatian markets, in addition to enhancing joint efforts to create new tourism and leisure programs to promote mutual tourism flows. There are currently more than 42 monthly flights between the UAE and Croatia, operated by the airlines of both countries.
Gulf News
21-04-2025
- Business
- Gulf News
Dubai Islands' new access points - and 1,425-meter bridge - will fire up its property market
Dubai: A lot was already happening at Dubai islands and the property sub-market with it – now, the master-development has got another well-timed boost. Contracts have been awarded for direct access points between Dubai Islands from Bur Dubai, and which includes a bridge all of 1,425 meters with four lanes in each direction. Property market sources say the best position for any emerging development – and especially one in the scale of Dubai Islands – is when internal and external construction is taking place simultaneously. Investors get to see proof-of-concept within the islands and how the future of getting in and out of it shapes up. 'Each time there are announcements about a Dubai Metro line expansion or more infrastructure work happening, you can hear a buzz in adjacent freehold investment hubs,' said an estate agent. 'It should be the same with the access points for Dubai Islands.' A five-island project, Dubai Islands will cover a quite sizable 17 square kilometres. In recent months, it has been the hotspot for offplan launches in the Dubai residential property market, a process that's set to continue through this year and beyond. Dubai Islands is emerging as one of the city's most promising destinations for waterfront living. The continued focus and investment by the government in this area is a clear indication of its long-term potential. At IMTIAZ Developments, we are proud to be contributing to this visionary landscape and look forward to shaping vibrant, world-class communities in this iconic location. According to a new Reidin-GCP report, well over 7,000 homes are in construction at Dubai Islands, with last March adding to that tally with a further four launches. (Last month also had eight announcements of impending project launches at the location.) First-time investors in Dubai – and younger ones too A lot of first-time investors – and potential ones - are taking interest in what's available in the islands. Market sources say they are skewing younger, tending to be in the late 20s and early 30s, and with many of them having spent less than 3-5 years as residents in the UAE. 'Dubai Islands' property options are definitely connecting with a younger demographic, who want to get early into a project rather than an already established costlier one,' the agent added. 'There are better chances for price appreciation, given the quality of the build and support infrastructure. 'Now, with the new Bur Dubai to Dubai Islands access points, it will get more buyers interested.' How are Dubai Islands' prices stacking? Aakarshan Kathuria, CEO of the property consultancy RiseUp, says that since the second-half of 2023, the median sale price of an apartment in Dubai Islands has risen from around Dh1,800 per square foot to over Dh2,300-Dh2,400 based on Dubai Land Department data. 'That's an impressive 33% rise in about 18 months,' said Kathuria. 'Even more impressive is the 125% increase in land values there, to currently be in the Dh450 psf levels.' Clearly, the price action is clearly moving in sync with buyer demand. Dubai Islands currently has one entry and exit access point through the Infinity Bridge and Al Khaleej Street. The RTA's newly announced 8-lane bridge contract will allow a capacity of 16,000 vehicles per hour in both directions. (The project includes a pedestrian and cycling track connecting both ends of the bridge.) 'The development of this access point will cut down the travel time significantly, in turn giving a boost to future residents and tenants of this community,' said Kathuria. 'This will propel home sales on Dubai Islands, given that they are within a 5-10 kilometer radius from some of the major hubs of Dubai, such as Deira Gold Souq, Bur Dubai's Meena Bazaar and Deira's spice and electronics markets.' A future rental hub too Closer to the end of the decade, Dubai Islands will take its position as the place for end-user property investors – and tenants seeking mid- to upper-mid tire rents. 'It's got the best of location and draw in the overflow from Deira and Bur Dubai alike,' said an estate agent. 'A good 10,000 homes or to be ready in 5 years, and with many of them in the rental market.'
