Real Estate Dubai approves second phase of Hatta development project By Pramod Kumar March 2, 2023, 5:19 AM WAM Various new projects and initiatives are planned, such as the restoration of Wadi Lim Lake Dubai Ruler Sheikh Mohammed bin Rashid Al Maktoum has approved phase II of the development of Hatta, the mountain exclave of Dubai, comprising 22 projects and initiatives. Among the projects is a waterfront development on Hatta Beach and a waterfall near Hatta Dam, the UAE state-owned WAM news agency reported. The site will see the installation of a 5.4 km cable car that will carry visitors from the dam to the top of Umm Al Nusour, the highest peak in Dubai. The projects also include a mountain tramway to improve accessibility to Hatta Dam. Hotels and health resorts with urban designs, and the restoration of Wadi Lim Lake are also included in the plans. Moreover, a new model residential district is being designed, in addition to constructing 100 national houses as part of the development. Hiking tracks will be built in select mountainous regions to facilitate leisure and sporting activities. Sheikh Mohammed also reviewed the progress of phase I of Hatta Development, comprising 14 projects and initiatives.
Mining Brazil and UAE sign minerals exploration deal The UAE and Brazil have signed an agreement potentially worth billions of dollars to invest in the search for minerals that are essential to the green energy transition. The memorandum of understanding aims to promote exploration for and development of “strategic” minerals, in a partnership that could reach R$15 billion ($2.45 billion) in investments, Brazil’s […] 4 hours ago
Energy Turkey needs $80bn for energy transition, says minister Turkey needs $80 billion to meet growing energy demand, which has tripled in the last two decades, the energy minister said on Monday. “We need to attract capital into our energy markets. We need to find new business solutions,” Alparslan Bayraktar said at the International Renewable Energy Agency assembly in Abu Dhabi, adding that the […] 4 hours ago
Trade Jordan and Qatar trade volume rises 6% in 2024 Trade between Jordan and Qatar increased by 6 percent year on year in 2024 amid growing economic ties. The total volume reached QR910 million ($250 million), up from QR860 million in 2023, the state-run Petra news agency reported, citing data released by Qatar’s planning and statistics authority. Jordan’s exports to the Gulf state include consumer and […] 2 hours ago
Economy Arab investments in Egypt’s economy reach nearly $40bn Foreign direct investments from Arab countries into Egypt reached $39.5 billion in the last quarter of the fiscal year 2023-24, led by the UAE. The UAE’s investments in the construction sector reached $37.5 billion, accounting for 95.3 percent of the total incoming investments, Arabic-language Al Arabiya Business reported citing the central bank of Egypt data. […] 1 hour ago
