Latest news with #DubaiExpansion
Zawya
22-06-2025
- Business
- Zawya
Richmax begins international journey with Dubai debut
Dubai: Richmax Group has announced the official launch of its Travel & Tourism Division in Dubai, marking the company's foray into the Gulf market and signaling the beginning of its international expansion strategy. Operations are set to commence in July 2024, positioning Dubai as the gateway for Richmax's broader GCC ambitions. "This strategic move comes after a comprehensive market evaluation across the UAE and other Gulf nations," said Adv. George John Valath, Chairman of Richmax Group. 'It is the first step in a long-term global vision.' Founded in 2020 amidst the pandemic, Richmax Finvest, the group's flagship financial services arm, has grown rapidly from its roots in Kalamassery, Kerala, expanding across South India, Odisha, Delhi, and West Bengal. The group now aims to establish 1,000 branches by 2030 and transition into a Small Finance Bank by 2040, reflecting its long-term growth ambitions. Launched in 2024, Richmax Tours & Travels has quickly gained traction with its curated international travel packages and growing customer base. After opening its second branch in Aluva in 2025, the company is now ready to go global with its Dubai outlet. As part of its expansion roadmap, Richmax plans to establish a presence in all Emirates of the UAE by the end of 2027, and across all GCC countries by 2030. Another key vertical, Valath Jewellers, also continues its upward growth under the Richmax umbrella. With established showrooms in Kalamassery, Aluva Road, and Kanjur, the brand is expanding further into Central Kerala and Tamil Nadu. A Dubai showroom is also in the pipeline, as part of a wider goal to make Valath Jewellers a publicly listed company by 2028. Further diversifying its portfolio, Richmax has launched Richmax Marketing & Consultancy, a strategic advisory arm that provides business consulting services to internal and external clients. As part of its strong commitment to community welfare, Richmax Group drives several impactful initiatives under its CSR banner 'Sparsh.' The program focuses on key social priorities such as environmental sustainability, youth empowerment, women's safety, and education. In 2024 alone, the group planted over 1,200 saplings as part of its green initiative. The 'I Stand Against Drugs' campaign reached thousands of students across various regions, promoting awareness and prevention. The 'Bindhiya Mission' advocates for women's safety and empowerment, while the annual 'Vidya Jyothi Awards' celebrate academic excellence by honoring outstanding student achievers. With the UAE launch as a pivotal milestone, Richmax Group is poised to become a significant player across the GCC, driven by innovation, vision, and a strong community-first philosophy. -Ends- About Richmax Group Founded in 2020, Richmax Group is a diversified business conglomerate headquartered in India with interests spanning financial services, travel and tourism, jewelry retail, and strategic consulting. With a vision to become a Small Finance Bank by 2040, the group operates under key verticals such as Richmax Finvest, Richmax Tours & Travels, Valath Jewellers, and Richmax Marketing & Consultancy. Known for its rapid growth and strong community-first philosophy, the group is also committed to impactful CSR initiatives through its 'Sparsh' program. Richmax has now embarked on its international journey, with its UAE operations marking the first step toward a wider GCC and global presence. For media inquiries, please contact: Sajish Gopalan Regional Head – Richmax Group
Khaleej Times
03-06-2025
- Business
- Khaleej Times
Dubai: 5 tunnels, 3 lanes in new Al Wasl project to cut travel time by half
A new project to expand Al Wasl road by the Dubai Roads and Transport Authority (RTA) will cut travel time for commuters by half. The RTA has announced an integrated project to develop Al Wasl Road, extending 15 km, as part of a comprehensive plan that includes the development of Umm Suqeim and Al Safa Streets. The project will upgrade six intersections through the construction of five tunnels totaling over 3,850 meters in length and widening the road to three lanes in each direction. The development of Al Wasl Street will extend from intersection with Umm Suqeim Street to its intersection with 2nd of December Street. The expansion of Al Wasl Road will increase the capacity to 12,000 vehicles per hour in both directions. The project will add a creative and aesthetic element to the area through pedestrian walkways, a bicycle path, boulevards, and urban spaces. The project serves a vital area with numerous modern tourist facilities, including beaches, hotels, luxury restaurants, and residential areas, home to more than one million people. The project contributes to facilitating the movement of residents and visitors, enhancing the quality of life, and raising the level of traffic safety. @rta_dubai — Dubai Media Office (@DXBMediaOffice) June 3, 2025 The project will cut down travel time by half, according to Mattar Al Tayer, Director-General and Chairman of the Board of Executive Directors of the Roads and Transport Authority said. Tayer added, "The Al Wasl Road development project is part of an integrated plan to develop the road network in the area, including Umm Suqeim and Al Safa Streets, while adding creative and aesthetic elements through the development of pedestrian and bicycle paths, squares, and urban spaces, while enhancing the biosphere and landscaping. The project serves an area boasting modern tourist facilities such as beaches, hotels, restaurants, and residential areas, with an estimated population of more than one million."
