Construction Abu Dhabi set to begin work on Hudayriyat mega project Real estate developer Modon Properties has unveiled the masterplan for Hudayriyat Island in Abu Dhabi with the first phase of enabling infrastructure construction set for completion in the next 18 months. The project will span more than 51 million sq m, equivalent to 53.8 percent of Abu Dhabi Island, state-run WAM news agency reported. No […] June 14, 2023
Aviation Wizz Air grows fleet to meet low-cost demand Wizz Air Abu Dhabi has revealed plans to increase its fleet size by over 400 percent before the end of the decade, as budget air travel in the Mena region booms. The carrier may also expand further into Saudi Arabia. The joint venture between Abu Dhabi sovereign wealth fund ADQ, which owns 51 percent, and […] June 9, 2023
Tech UAE to play ‘central role’ in AI but needs greater regulation The founder of ChatGPT has praised the UAE for being ahead of the curve on the development of artificial intelligence (AI) – as a top Emirati lawyer called for greater regulation of the new technology sector. In a visit to Abu Dhabi on Tuesday Sam Altman said that the UAE had been discussing AI “before […] June 8, 2023
Opinion Media & Advertising Gulf News and Khaleej Times deserve a fighting chance How the region's struggling newspapers market might survive June 2, 2023
Logistics Adnoc Logistics & Services shares surge on debut Shares in Adnoc Logistics & Services rose 44.8 percent above their listing price on Thursday as the company made its debut on the Abu Dhabi Securities Exchange (ADX). The initial public offering (IPO) for 19 percent of the business drew the highest demand globally for any listing so far in 2023, raising $769 million. Shares […] June 1, 2023
Aviation US electric aircraft developer lands in Abu Dhabi A hybrid-electric vertical take-off and landing aircraft developer from California is planning to set up a regional HQ in Abu Dhabi as trade deals between the Emirates and the US focus on advanced technologies. Odys Aviation has joined the UAE Ministry of Economy’s NextGen foreign direct investment programme, which aims to attract digitally enabled businesses […] May 31, 2023
Tourism Hotel group Rotana to open new casino resort in Georgia Abu Dhabi hotel management company Rotana is opening a new casino resort on the Black Sea coast in Georgia in 2026. Set to be the largest hotel complex in the country, the five-star Pontus Rotana Resort & Spa, Gonio, will add 600 keys to Rotana’s growing global footprint and provide access to world-class gaming at […] May 30, 2023
Agriculture Abu Dhabi agribusiness links up with Estonian forage firm An Abu Dhabi agribusiness has signed a supply agreement that will drive construction of forage processing facilities in the Baltic. Al Dahra Group has made the deal with Golden Fields, an Estonian animal feed company. Under the partnership, Al Dahra has an exclusive offtake agreement for forage – such as corn silage, grasses, alfalfa and […] May 29, 2023
Real Estate Q Holding in $1.9bn deal to build 1,742 villas Abu Dhabi-listed developer Q Holding has signed two agreements with the emirate’s housing authority, Adha to design and build 1,742 villas. It will also see the development of mosques and commercial buildings, and in total will involve an investment of AED7 billion ($1.91 billion). The West Baniyas project includes 1,500 villas and 14 commercial buildings. […] May 25, 2023
Energy Taqa and Adnoc pair up on $2.4bn seawater project Adnoc and Taqa, two of the UAE’s largest energy companies, have announced a $2.4 billion project to treat seawater and deliver sustainable water supplies to onshore operations. Abu Dhabi National Oil Company (Adnoc) and Abu Dhabi National Energy Company, better known as Taqa, will jointly hold a 51 percent majority stake (25.5 percent each) in […] May 24, 2023
Video length: 01:27 Tourism Aquaman makes a splash in Abu Dhabi tourist drive Abu Dhabi has turned to Aquaman actor Jason Momoa to help increase visitor numbers to Yas Island as Gulf countries increasingly seek celebrity support to boost international tourism. With growing competition across the region, the UAE capital’s Department of Culture and Tourism hopes to transform the Hollywood star’s millions of social media followers into potential […] May 21, 2023
Banking and Finance Abu Dhabi’s Mubadala reports $276bn assets Abu Dhabi sovereign investor Mubadala on Friday reported its 2022 financialresults with more than AED1 trillion ($276 billion) in assets under management, and said it outperformed market benchmarks. Mubadala Investment Company is the second-biggest state fund in the UAE capital, after Abu Dhabi Investment Authority. In 2021 it reported AED1.045 trillion – around $280 billion […] May 19, 2023
Banking and Finance $500m Aldar green bond ‘four times oversubscribed’ Aldar Investment Properties – a subsidiary of Abu Dhabi’s biggest real estate developer Aldar Properties – has launched a $500 million 10-year green debut Islamic bond, it said in a stock market filing on Thursday. The issuance marks Aldar Properties’ first return to international capital markets since 2019, when it launched its debut 10-year sukuk, […] May 18, 2023
Banking and Finance Goldman Sachs plans Abu Dhabi office after 1MDB scandal An internal memo seen by Bloomberg shows that Goldman Sachs Group Inc is opening an office in Abu Dhabi Global Market, a free trade zone in the UAE capital, adding to its hubs in Doha, Dubai and Riyadh. Assuming the office receives regulatory approval, it will mark a significant step forward in the rehabilitation of […] May 16, 2023
Business of Sport Mubadala wins $440m court case against Real Madrid An international court has ruled in favour of Abu Dhabi sovereign investor Mubadala in a $440 million case against Spanish football giants Real Madrid. The lawsuit surrounded a potential 20-year sponsorship deal for the naming rights to Los Blancos’ Santiago Bernabéu Stadium. Real Madrid claimed Mubadala had reneged on the agreement, which was originally struck […] May 15, 2023
Opinion Energy Time to deploy the ‘silver bullet’ against climate change There is a solution ready to hand in the global warming challenge – technology May 15, 2023
Opinion Aviation Emirates and Etihad buddy up for symbolic clout This development is more about national symbolism than equals May 15, 2023
Analysis Business of Sport US sports the latest goal for Mena investors The $500 billion American sports market could be the next target for Middle East investors, analysts have said, as two more NBA teams unveil plans to play pre-season games in the UAE. The Dallas Mavericks will face the Minnesota Timberwolves at the Etihad Arena in Abu Dhabi in October this year. They follow in the […] May 14, 2023
Opinion Banking and Finance Abu Dhabi opens its doors to ‘masters of the universe’ The UAE capital has big plans to be the region's top financial centre May 12, 2023
Energy Brazil’s Braskem confirms takeover bid from Adnoc Braskem confirmed on Tuesday that its controlling shareholder Novonor received a takeover offer from Abu Dhabi National Oil Company (Adnoc) and Apollo Global Management. The Brazilian petrochemicals producer had previously said that a non-binding bid of 37.5 billion reais ($7.5 billion) had been presented to Novonor but did not say where the offer had come […] May 11, 2023
Real Estate Abu Dhabi to spend $23bn on new neighbourhoods Up to 76,000 new homes are planned over the next five years in Abu Dhabi to meet rising demand for residential property. The emirate’s executive council has signed off a budget of AED85.4 billion ($23.2 billion) for a string of residential neighbourhoods with new homes and development sites. The projects will also feature services, amenities […] May 10, 2023
Energy Adnoc ‘in talks’ to buy Brazilian petro firm Braskem Abu Dhabi National Oil Company (Adnoc) and US-based asset manager Apollo Global Management are said to have submitted a joint bid of 37.5 billion reais ($7.5 billion) to acquire São Paulo-headquartered Braskem. Discussions are in the early stages, Bloomberg reported, citing sources close to the potential deal. AGBI has contacted Adnoc for comment. The state-owned […] May 9, 2023
