Latest news with #Dh5.6
Al Etihad
29-05-2025
- Business
- Al Etihad
IHC concludes participation in MIITE with over 30 strategic announcements
29 May 2025 12:52 ABU DHABI (ALETIHAD)International Holding Company (IHC), the Abu Dhabi-headquartered global investment group, concluded its dynamic participation at the Make it in the Emirates (MIITE) Forum 2025, showcasing its multi-sectoral strength and commitment to the UAE's industrial transformation. Organised by the Ministry of Industry and Advanced Technology, the four-day event witnessed IHC bringing together over 25 of its Group companies under a single pavilion, with more than 30 strategic announcements and active engagement in 27 high-level panel its role as a national economic catalyst, IHC and its subsidiaries committed more than Dh5.6 billion in industrial investments over the next five years. These included agreements, product launches, factory expansions, and new facility announcements spanning clean energy, real estate, AI, advanced technology, space, and of the forum's highlights was the launch of SAIF (Smart Artificial Intelligence Facilitator), the UAE's first domestically developed AI marketplace. Built in the Emirates, SAIF is the world's first AI agent designed to simplify developer access to GPUs and large language models, setting a new benchmark for regional AI decarbonisation platform EPointZero signed a 1 GWh battery storage deal with Enercap by Apex Energy—one of the world's largest such transactions in 2025. In a further clean energy initiative, Enercap partnered with ROX Motor to jointly develop supercapacitor systems for next-generation electric vehicles manufactured in the the real estate sector, Aldar announced its adoption of hydrogen-based steel rebars from Emsteel for the construction of Abu Dhabi's first net-zero carbon mosque. This marks a significant step forward in sustainable construction practices in the also entered into an agreement with International Resources Holding (IRH), IHC's mine-to-market platform, to achieve full decarbonisation across IRH's global mining bolstering the UAE's space capabilities, Orbitworks—an IHC venture focused on satellite technologies—unveiled Altair, a ten-satellite Earth observation constellation enabled with artificial intelligence. The satellites will be assembled and integrated in Abu Dhabi, further reinforcing the nation's aspirations in advanced manufacturing and space Basar Shueb, CEO of IHC, said:"Our strong participation at MIITE reflects IHC's unwavering commitment to building the industries of tomorrow—industries rooted in innovation, sustainability, and national capability. Over these four days, we translated vision into action through strategic partnerships, groundbreaking platforms, and deep industrial alignment. Our strong performance in In-Country Value underscores IHC's role in advancing the UAE's localisation agenda and creating long-term economic resilience. As we look to 2026 and beyond, IHC will continue to be a driving force in shaping the UAE's global competitiveness and delivering sustainable value for future generations."IHC's longstanding partnership with the UAE's In Country Value (ICV) programme was reinforced by strong performance across its portfolio. PureHealth, the country's largest integrated healthcare platform, remains on track to reach an ICV-qualified spend of Dh13 billion by 2032. Its brand SEHA reported the highest ICV score in the national healthcare sector at 81.13%, while health insurer Daman achieved an impressive 71.86%.Aldar confirmed it had reinvested Dh10 billion into the local economy in 2024 and achieved a 71% ICV score. NMDC Group, a leader in engineering and marine services, received the ICV Excellence Award in the Semi-Governmental Manufacturers category. NMDC Energy alone reported Dh27 billion reinjected into the local economy and pledged an additional Dh17 billion in future localisation commitments, attaining an overall Group ICV score of 81.2%.IHC's financial services capabilities were also on display at MIITE 2025, with two landmark agreements signed with First Abu Dhabi Bank (FAB). The deals appointed FAB as IHC's exclusive house bank and introduced the FAB Business App across IHC's portfolio companies to streamline financial integration and enhance digital industrial collaborations included a strategic agreement between NMDC Energy and Al Gharbia to boost domestic pipeline manufacturing in support of regional infrastructure development. Emircom's DCV Industries, another IHC subsidiary, signed an MoU with Legrand to deliver integrated, high-performance infrastructure solutions for the next generation of data centres. IHC has confirmed its return to the MIITE Forum in 2026, to be held from May 4 to 7. The Group will again showcase its broad industrial footprint and its continued alignment with the UAE's vision for economic diversification, industrial self-sufficiency, and sustainable growth.
Al Etihad
24-04-2025
- Business
- Al Etihad
Abu Dhabi Real Estate Centre records 34.5% growth in real estate transactions to Dh25.3bn+ in Q1 2025
24 Apr 2025 10:05 ABU DHABI (ALETIHAD)The Abu Dhabi Real Estate Centre, an affiliate of the Department of Municipalities and Transport – Abu Dhabi, has reported that total transaction value grew by 34.5 percent to Dh25.3 billion across 6,896 deals in the first quarter of 2025 in the emirate, compared to Dh18.82billion from 5,773 transactions in the same period of and sell transactions totalled Dh15.51 billion through 3,819 transactions, reflecting a 26.7 percent increase in value and an 11 percent rise in volume compared to the first quarter of 2024. Mortgage transactions also recorded strong growth, reaching Dh9.8 billion through 3,077 transactions — a 49 percent year-on-year Island was the leading area for real estate transactions, recording deals amounting to Dh5.6 billion. It was followed by Yas Island, with Dh3.6 billion, and Mohammed Bin Zayed City, with Dh2.1 billion. Al Reem Island and Al Hudayriyat Island recorded over Dh1 billion in report highlighted continued activity in Foreign Direct Investment (FDI), with 384 transactions valued at Dh1.582 billion concluded by investors from 68 nationalities — up from 58 nationalities during the same period last year. This demonstrates growing confidence in Abu Dhabi's real estate market, driven by regulatory policies and government initiatives that enhance its local and global Director-General of ADREC, Engineer Rashed Al Omaira, said, "ADREC continues to advance a more efficient, competitive, and sustainable real estate ecosystem, driven by digital transformation, reliable data, and continuous collaboration with strategic partners. These results highlight the strength of Abu Dhabi's property market and its enduring attractiveness as a regional and international hub for real estate investment. The notable growth in transaction value and volume, alongside the rise in foreign investment, underscores the effectiveness of our regulatory frameworks and reinforces investor confidence in the market." "We will continue to enhance our legislative and digital tools and promote transparency to establish a more flexible and sustainable real estate environment aligned with Abu Dhabi's long-term vision."
Khaleej Times
27-02-2025
- Business
- Khaleej Times
Sharjah: 2,000 homes worth Dh5.6 billion sold out within 3 hours of launch
Master developer Arada sold out all four phases of its Masaar 2 project just three hours after the forested master community was launched for sale on Thursday. Prospective customers began queuing outside Arada's sales centres from 2am onwards and by noon, all 2,000 homes worth Dh5.6 billion had been snapped up, making Masaar 2 by far the fastest-selling off-plan project in Sharjah, and one of the fastest-selling projects in the UAE overall. Masaar 2 follows in the footsteps of Masaar megaproject in the Suyoh district of Sharjah. Spanning 10.5 million square feet and featuring serene woodlands, nature-inspired architecture and world-class amenities, Masaar 2 contains 2,000 contemporary homes, ranging in size from two-bedroom townhouses to five-bedroom villas. Residents of Masaar 2 will have a swimmable forest lagoon with a waterfall, sports and fitness facilities, a woodland jogging track, an adventure trail, a community mosque and an outdoor cinema. The project will contain 40,000 trees. Construction at Masaar 2 will start before the end of the year. The first homes are scheduled for completion by the end of 2027, and the full community with all its amenities will be completed by 2028. 'The original Masaar has been one of the UAE's most transformative communities, seamlessly blending a forested landscape with an urban master plan and it is no surprise to see the exceptional level of interest in Masaar 2, which also reflects the impressive strength of the Sharjah market, and the wider interest in the UAE as an exceptional investment destination overall,' said Prince Khaled bin Alwaleed bin Talal, Executive Vice-Chairman of Arada. Ahmed Alkhoshaibi, Group CEO of Arada, said: 'The first iteration of Masaar has been one of the UAE's most popular off-plan success stories of recent years, with both homeowners and investors alike praising the high quality of the finished homes, the good capital appreciation and impressive return on investment. We've been receiving daily requests about a second Masaar project since the original version sold out, and the significant pent-up demand in the market has resulted in the record-breaking sales that we have seen today.'
The National
27-02-2025
- Business
- The National
Arada open to IPO on market growth as $1.52bn Sharjah project sells out in three hours
UAE developer Arada is open to the possibility of an initial public offering in the future, its group chief executive said, after it sold out its new Dh5.6 billion ($1.52 billion) Sharjah project in three hours on strong demand in the real estate market. 'We are looking potentially to list in three years' time, but this is subject to both market conditions and our own performance during that period,' Ahmed Alkhoshaibi told The National. The UAE's real estate market has been booming in recent years on strong investor demand and residency initiatives by the government. Sharjah-based Arada sold out all 2,000 units at its Masaar 2 development by noon on Thursday, making it their fastest-selling off-plan project in the emirate, it said on Thursday. Investors comprised a diverse demographic thanks to changes in Sharjah real estate laws that opened up freehold properties to all nationalities, Mr Alkhoshaibi said. 'We've seen a growth in Indians, Pakistanis, Europeans and westerners … and [we also have investors coming in] from Australia, Canada, Germany and England,' he said. 'Indians remained the biggest percentage as an individual nationality and the rest is divided between westerners, Eastern Europeans and Arabs, GCC and UAE nationals.' Arada, which currently serves the Sharjah and Dubai markets, is also looking at entering other emirates, Mr Alkhoshaibi said. 'We have Ras Al Khaimah coming up soon and we're looking at Abu Dhabi,' he said. 'We want to continue [aggressively expanding]; we think that's a good balance in the UAE.' In the wider Gulf region, Arada is also 'studying' the market in Saudi Arabia. 'We're very close [to entering it],' Mr Alkhoshaibi said. The developer is also looking to double its Australia portfolio to 5,000 in the next three years, he said. The company entered Oceania's biggest economy in August 2024 with key projects in Sydney. A 'fourth market somewhere' is also being considered, Mr Alkhoshaibi said. 'We don't just expand for the sake of expanding. If we can't add value to our market, be unique or be competitive, we don't enter it,' he added.
The National
10-02-2025
- Business
- The National
Aldar's 2024 profit surges 43% amid thriving property market
Aldar Properties, Abu Dhabi's biggest listed developer, reported a 43 per cent rise in its 2024 profit, as a sharp increase in UAE sales to overseas and resident buyers drove revenue amid a boom in the emirate's property market. Net profit attributable to equity holders of the company for the 12 months to the end of December rose to Dh5.6 billion ($1.49 billion), the company said in a statement on Monday to the Abu Dhabi Securities Exchange, where its shares are traded. Revenue and rental income during the reporting period jumped by more than 62 per cent on an annual basis to Dh23 billion. Aldar's full-year sales reached Dh33.6 billion, up 20 per cent from the previous year. UAE sales to overseas and foreign resident buyers hit Dh22.2 billion at the end of last year, accounting for about 78 per cent of total sales, a sharp increase from 66 per cent contribution in 2023, the company said. 'During 2024, Aldar delivered exceptional operational and financial performance against the backdrop of a thriving domestic real estate market, which is being enabled by government policies that ensure the UAE is one of the world's most attractive destinations for both individuals and businesses to call home,' said Mohamed Al Mubarak, chairman of Aldar Properties.
