Construction Arada awards $124m contracts for 740 homes in Sharjah UAE-based developer Arada has awarded two major contracts worth AED 454 million ($124 million) to build 740 new homes in the 24 million square foot Aljada mega-project in new Sharjah. The two contracts were awarded to Dubai-based Airolink Building Contracting, the developer said in a statement. The first contract worth AED 377 million is to build […] October 5, 2022
Analysis Construction Sponge City Initiative could fix Mena’s growing flood threat A Dubai-based company is in talks with authorities across the Middle East about bringing a revolutionary “sponge city” concept to the region following the UAE’s recent record levels of rainfall which led to loss of life and flood damage. Dake Rechsand, which specialises in sustainability solutions for water conservation, rainwater harvesting and stormwater management, exhibited […] October 4, 2022
Analysis UAE and Germany grow ever closer with shared net zero goals The first four Mercedes Benz cars arrived in Abu Dhabi in 1965, imported by the Al Fahims, who founded Emirates Motor Company three years earlier. Last year, the UAE imported German automobiles worth nearly $1.2 billion. Also in the mid Sixties, the German company Siebert discovered enough water close to Al Ain to enable the […] September 30, 2022
Analysis Tourism From Bulgari to Versace: Dubai’s rich splash out on branded homes The UAE is expected to attract the largest net inflow of high net worth individuals globally in 2022 – and with that comes a growing demand for luxury housing. Catering to this income bracket, the branded residences sector has grown by 230 percent across the world over the past decade. Savills, the real estate services […] September 25, 2022
Aviation UAE’s budget carrier Air Arabia to launch new airline in Sudan Sharjah-based Air Arabia will launch a new venture, Air Arabia Sudan, in partnership with DAL Group, the budget airline said in a statement on Friday. Khartoum-based Air Arabia Sudan will operate a fleet of Airbus A320 aircraft, pending regulatory approval. The statement did not provide any details on routes, schedules or fleet size but said […] September 23, 2022
Analysis Economy Sharjah has world’s second-largest growth of millionaires Sharjah recorded the second-largest increase in millionaires in the first half of this year, as the Gulf claimed five of the top ten hotspots. The total number of millionaires residing in the emirate is now 3,700, up 20 percent from December. Riyadh, the Saudi Arabian capital, tops the list with 17,200, also up 20 percent. […] September 14, 2022
Retail UAE likely to pioneer iPhone 14 emergency message service The UAE is predicted to be at the forefront of adopting the iPhone 14 satellite message feature to send emergency messages from remote locations, according to a local retailer. “With the way Dubai Police and the Ministry of Interior work, I wouldn’t be surprised to see that here fairly soon,” Ashish Panjabi, chief operating officer […] September 8, 2022
Aviation Turkish Airlines to add more flights to UAE as demand surges Flag carrier Turkish Airlines plans to increase flight frequencies to and from the UAE to boost connectivity amid higher customer demand. The number of flights from Istanbul to Abu Dhabi, Dubai and Sharjah will increase, offering more flexibility to customers, the airline said in a statement. Currently, Turkish Airlines has three daily flights from Dubai […] September 8, 2022
Analysis Manufacturing Ashok Leyland bus deal drives manufacturing push Ashok Leyland, the flagship brand of the India-based Hinduja Group, has bagged orders for 1,400 school buses to be built at its Ras Al Khaimah (RAK) factory for use across the UAE. The deal, the company’s largest in the UAE, will be supplied from Ashok Leyland’s $50 million manufacturing facility in RAK, which is the […] September 5, 2022
Construction Construction complete on $32m Sharjah waterfront project Construction work on the AED119 million ($32.40 million) Kalba Waterfront in the eastern region of Sharjah is 100 percent complete, state news agency WAM reported, citing the Sharjah Investment and Development Authority (Shurooq). Eagle Hills Sharjah Development, a joint venture between Shurooq and Eagle Hills, is a waterfront destination that is part of the Kalba eco-tourism project. […] September 2, 2022
Analysis Class act: UAE is a magnet for private school investment The post-pandemic rise in migration to the UAE is fuelling demand for private schools, making the Emirates a “magnet” for investors and school operators, industry experts have said. The UAE’s population grew by one percent in 2021, according to the World Bank. The country’s population currently stands at 9.89 million people and is projected to […] September 2, 2022
Sustainability Sharjah bans single-use plastic bags from January 2024 Sharjah will ban single-use plastic bags and materials in Sharjah as of January 1, 2024, WAM, the UAE state news agency, reported. The Sharjah Executive Council’s decision aims to protect the environment from the dangers of plastic pollution and reduce the negative effects resulting from harmful practices. It will help organise the shift from the […] August 24, 2022
Analysis Sustainability Beeah: the hero of zero waste is ready for its next mission The emirate of Sharjah is poised to become the Middle East’s first zero-waste city, after building the region’s first waste-to-energy plant. Yet even before the plant’s inauguration in May, Sharjah had the highest waste diversion rate in the region, at 76 percent, thanks to the pioneering efforts of local environmental and waste management group Beeah. […] August 23, 2022
Analysis Sustainability To get ahead, plastics producers need to be running in circles The volume of plastics produced globally every year has soared over the past half century, from 15 million tonnes in 1964 to more than 300 million tonnes today. This figure is forecast to double again over the next two decades and nearly quadruple by 2050. But synthetic polymers have one major drawback: they generally take […] August 23, 2022
Analysis Energy Sharjah wins waste-to-energy race as rest of region cleans up its act Dubai had the Gulf’s first “seven-star” hotel and Abu Dhabi hosted the inaugural “day-night” Formula One Grand Prix. The emirate of Sharjah can claim a UAE first too – one that is less glitzy but potentially more transformative – the first waste-to-energy power plant. The Sharjah waste-to-energy facility, officially inaugurated in May, adds another dimension […] August 23, 2022
Analysis Banking and Finance Motor insurance stalls despite UAE premium growth UAE listed insurance companies reported that the value of premiums rose 7.64 percent year-on-year to AED15.676 billion ($4.27 billion) in the first half of 2022, but industry experts said the motor segment continues to struggle. A total of 13 insurers listed on the Dubai Financial Market accounted for 56.1 percent of the total premiums of […] August 22, 2022
Construction Ajman construction contracts reach $1.1bn in H1 2022 The value of construction contracts awarded in Ajman in the UAE exceeded AED 2.1 billion ($1.12 billion) in the first half of 2022, higher than during the same period in the two previous years, according to a report by the Department of Municipality and Planning. The contracts were valued at AED 800 million in 2020 […] August 17, 2022
Analysis Tourism Sharjah enters the fray as UAE holiday home market heats up The UAE’s fledgling holiday homes market will remain attractive to investors and could fuel consolidation among hotel operators, experts say, as Sharjah becomes the latest emirate to announce regulations to diversify its tourism sector. Sharjah Commerce and Tourism Development Authority (SCTDA) has launched an official framework – the Holiday Homes Project – which aims to […] August 16, 2022
Food & Drink Healthy fast food startups aim to tackle growing GCC obesity Following its success in Dubai and Saudi Arabia, health food eat-in and home delivery company Under500 is set to expand to Qatar. The firm’s low-calorie meals – served in franchised venues across the UAE and Saudi Arabia and via online delivery services such as Talabat and Deliveroo – are to be ordered by customers in Doha through delivery […] August 15, 2022
Analysis Economy Rising inflation leaves UAE businesses underinsured Rising inflation is leaving UAE companies at risk of being underinsured in the event of a potential claim, with industry experts urging companies to make sure they keep the valuation of assets up to date. In the event of a claim, such as those being prepared by UAE businesses damaged by the severe flooding last […] August 15, 2022
Tourism Sharjah unveils holiday home project to diversify revenue Sharjah Commerce and Tourism Development Authority (SCTDA) has launched “Holiday Homes Project,” which aims to offer a framework to allow residents to lease their apartments to tourists and visitors. The move is in cooperation with several government and private companies to diversify the sources of income for the hospitality sector, WAM, the UAE state-owned news […] August 15, 2022
Analysis Banking and Finance UAE businesses to boost investment in cyber insurance Revenue from the cyber security insurance sector is forecast to grow by 10 percent per annum to $10.6 billion in 2025, with Gulf companies set to be part of this investment push. “The Russia-Ukraine war has increased the likelihood of state-sponsored cyber attacks that target critical infrastructure, military operations, and businesses,” said Amrit Dhami, a London-based […] August 9, 2022
