Telecoms Adia-backed EdgePoint to build 5,000 towers Southeast Asian mobile phone tower company EdgePoint Infrastructure plans to add at least 5,000 towers in the next two to three years. The Singapore-based company, backed by the Abu Dhabi Investment Authority (Adia), is planning to expand in Indonesia, Malaysia and the Philippines, where it already has a presence, and enter new markets such as […] January 21, 2025
Construction Eagle Hills signs contract for Budapest redevelopment Abu Dhabi-based developer Eagle Hills has signed a real estate purchase agreement with Hungary to start work on transforming a rundown area of Budapest. The project, spanning an area of 100 hectares, will have a development cost of more than €12 billion ($12.3 billion), the developer said in a statement. The project is supported by the […] January 20, 2025
Real Estate Eagle Hills plans Trump hotel project with Kushner The Abu Dhabi-based developer Eagle Hills and Affinity Partners, an investment firm founded by Donald Trump’s son-in-law, Jared Kushner, have agreed to build a luxury hotel and apartment complex in Serbia’s capital, Belgrade. The project, on the site of the former Yugoslav defence ministry, will feature a 175-room Trump hotel as its centrepiece, and 1,500 […] January 17, 2025
Industry Adnoc produces graphene and hydrogen at Habshan plant Adnoc Gas has started producing hydrogen and graphene – a “miracle material” stronger than diamond, more conductive than copper and more flexible than rubber. A subsidiary of Abu Dhabi National Oil Company, Adnoc Gas has teamed up with Baker Hughes of the US to install decarbonisation technology patented by Levidian, a British climate technology enterprise, […] January 17, 2025
Transport Tenders issued for high speed Abu Dhabi-Dubai rail link Tenders have been issued for the design and construction of central components in a high-speed rail link between Abu Dhabi and Dubai. Etihad Rail, the national rail company of the UAE, has sent out tenders for designing and constructing civil works and station packages for the line connecting the two cities as part of the […] January 16, 2025
EXCLUSIVE Aviation Wizz Air increases flights from UAE to Israel after ceasefire The budget carrier Wizz Air is increasing the number of flights between Abu Dhabi and Tel Aviv after the ceasefire agreement between Israel and Hamas. The airline had previously scaled back its Tel Aviv-Abu Dhabi service to four flights a week because of the conflict, down from its pre-crisis schedule of two flights a day. […] January 16, 2025
Transport Masdar City starts testing autonomous vehicles Abu Dhabi’s Masdar City has officially started testing autonomous vehicles to promote sustainable urban transportation. The first vehicle undergoing testing is a shuttle-style electric vehicle equipped with advanced sensors, electronic components and upgraded software, which enables it to navigate obstacles, detect other vehicles, and drive independently. The trials begin a series of tests featuring vehicles […] January 16, 2025
Trade Kenya-UAE Cepa may increase food exports and investment The UAE and Kenya have signed a comprehensive economic partnership agreement (Cepa) that is predicted to lead to a threefold increase in food exports from the East African nation. The trade deal, which was agreed in February last year, is expected to accelerate trade and investment in agriculture, infrastructure, healthcare, travel and tourism, financial services and […] January 15, 2025
Oil & Gas Adia to help fund $1bn Malaysian oil and gas firm Abu Dhabi Investment Company (Adia) is to invest in an oil and gas equipment-making unit in Malaysia. Adia is participating in the $1 billion funding round for Yinson Holdings’ equipment-maker alongside Asian investment firm RRJ Capital and British Columbia Investment Management. The funding, expected to close in the first quarter of 2025, will primarily support […] January 15, 2025
Finance Former Drake & Scull executives lose appeal in Dubai court UAE-based Drake & Scull International (DSI) has claimed a pivotal legal victory after an appeal from former executives of the company was thrown out. Ex-CEO Khaldoun Rashid Tabari and ex-executive Saleh Muradweij were previously ordered to pay almost AED152 million ($41 million) as compensation “for the material and moral damages suffered by the company”. The […] January 15, 2025
Energy Taqa among suitors for Germany’s $10bn Uniper The Abu Dhabi National Energy Company (Taqa) is interested in buying a stake in Germany’s government-owned power company, Uniper, media reports say. Uniper, which operates in more than 40 countries and has 34GW of generating capacity, was nationalised in 2022 during Europe’s energy crisis. The company needed a bailout when its former main gas supplier, Russia’s […] January 15, 2025
Tech UAE space company launches earth-monitoring craft Space42, a space technology company that has its headquarters in Abu Dhabi, deployed the second phase of its Foresight satellite constellation on Tuesday as the UAE continues its push to compete with the world’s leaders in the industry. The project is in collaboration with ICEYE, a provider of high-resolution images of the earth’s surface. The […] January 15, 2025
Tech Abu Dhabi seeks bidders for unified data centre project Abu Dhabi has issued a request for qualifications (RFQ) to develop a unified data centre, a critical part of its plan to consolidate digital infrastructure across more than 40 government entities in the UAE capital. A unified data centre is a centralised facility that securely stores and manages data and applications, serving as the backbone […] January 15, 2025
Construction Abu Dhabi buys stake in US power company for $500m A subsidiary of Abu Dhabi Investment Authority (Adia) will acquire a minority stake in Alpha Generation (AlphaGen), a US-based power infrastructure company, by investing $500 million, amid a surge in power demand. The investment is subject to regulatory approvals and is expected to close in the first half of 2025. AlphaGen is owned by affiliates […] January 14, 2025
Opinion Real Estate The UAE is the world’s new capital for entrepreneurs Dubai and Abu Dhabi have become magnets for investors and the world's super-rich January 13, 2025
Logistics ADQ unit explores offer to buy Aramex stake in cash A subsidiary of Abu Dhabi Development Holding Company (ADQ), a sovereign wealth fund, intends to submit an offer to buy 100 percent of the shares in Dubai-listed logistics company Aramex not already owned by Abu Dhabi Ports Company. Shareholders accepting the offer of Q Logistics Holding, an indirect subsidiary of ADQ Development Holding, will be […] January 13, 2025
Education Taaleem plans new schools in Dubai and Abu Dhabi Taaleem has revealed plans to add two “super premium” schools to its portfolio in 2026 as it takes advantage of the increasing number of high-net-worth individuals moving to the UAE. The Dubai-based company has secured a plot of land in the emirate for one of the schools and is “in the process of acquiring another […] January 10, 2025
Construction Damac to tokenise $1bn in real estate Damac Group, the Dubai property company, has partnered with the Hong Kong-based blockchain platform Mantra to tokenise assets worth at least $1 billion. The project will use blockchain technology to create digital tokens representing ownership or rights to Damac’s assets, allowing them to be traded online. Tokenisation is intended to lower barriers to investment by […] January 10, 2025
Renewable Energy Abu Dhabi kicks off bidding for 1,500MW solar project Abu Dhabi’s Emirates Water and Electricity Company (Ewec) has issued a request for proposals (RFP) to pre-qualified companies for the development of the 1,500-megawatt (MW) Zarraf solar photovoltaics (PV) project. The greenfield independent power producer (IPP) will be able to power 160,000 homes and reduce CO2 emissions by up to 2.4 million metric tonnes annually. The […] January 10, 2025
Analysis Banking and Finance Gulf still struggling to attract private cash for public projects Lower oil prices are driving Gulf countries, particularly Saudi Arabia and the UAE, to involve private companies in financing critical infrastructure projects worth tens of billions of dollars. Despite some successes, the expansion of public-private partnerships (PPPs) is being hampered by inconsistent project delivery and changing regulatory frameworks that are holding back investor confidence, experts […] January 10, 2025
Aviation Adia-backed bid for Malaysia Airports nears threshold A takeover offer for Malaysia Airports Holdings by a consortium that includes the Abu Dhabi Investment Authority (Adia) has edged closer to the threshold required to take it private. The group, which includes Malaysian sovereign wealth fund Khazanah, BlackRock’s Global Infrastructure Partners and Malaysia’s Employees Provident Fund, said it has secured an 84.1 percent stake […] January 9, 2025
Opinion Banking and Finance Despite ‘greenlash’, UAE banks will stick to net zero commitment US banks may have withdrawn from the Net Zero Banking Alliance, but FAB and ADCB should stay put January 7, 2025
