Latest news with #Projectsofthe50
Mid East Info
2 days ago
- Business
- Mid East Info
Dubai Investments' Glass Companies Record Strong Year-on-Year Growth - Middle East Business News and Information
Dubai Investments, the leading diversified investment company listed on the Dubai Financial Market, has announced strong year-on-year growth across its glass manufacturing portfolio under Glass LLC, with total production surpassing 14.8 million square meters in 2024. This milestone reflects the company's sharp focus on innovation, sustainability, and expanding demand driven by regional mega projects. Glass LLC, a wholly owned subsidiary of Dubai Investments, consolidates the Group's glass-related operations and currently comprises three core entities: Emirates Glass (EG), Emirates Float Glass (EFG), and Saudi American Glass (SAG). With a strong regional footprint and vertically integrated capabilities, these companies cater to a wide spectrum of sectors including construction, architecture, energy, and transport. 'The glass sector is a cornerstone of Dubai Investments' industrial platform—driving significant growth and reinforcing the Group's leadership in the GCC's high-performance materials market. As the region advances through mega projects and places greater emphasis on sustainability, Dubai Investments glass businesses are well-positioned to lead through innovation and product excellence. Continuous investments in cutting-edge technologies are sharpening the Group's competitive edge, enabling it to meet evolving industry needs while laying a strong foundation for long-term market leadership,' said Abdulaziz Bin Yagub Al Serkal, CEO, Industrial Platform, Dubai Investments. Emirates Float Glass (EFG), the only glass manufacturer in the GCC offering a full portfolio of float glass products, achieved full production capacity in 2024, delivering over 12.6 million square meters of glass across five continents. EFG's offerings include Clear Glass, Body Tinted Glass, and Reflective Glass (both online and offline coatings), as well as Low-Emissivity (Low-E) Glass. EFG is the only ICV-certified glass manufacturer in the UAE and is listed in the Golden List by the Abu Dhabi Department of Economic Development—recognizing its substantial contribution to the national economy. As an active participant in the UAE's Projects of the 50 and the Abu Dhabi Local Content Program, EFG's high ICV score underscores its commitment to local manufacturing, services, and workforce development. Its inclusion in the Golden List, curated by the Industrial Development Bureau (IDB) and Department of Government Support (ADGS), reinforces its position as a preferred supplier for government procurement. Emirates Glass contributed over 1.3 million square meters, marking an 8% year-on-year increase, with monthly growth peaking at 28% in December. Aiming to grow its market share from 23% to 27%, EG ramped up production through newly installed jumbo glass processing lines—including cutting, seaming, tempering, and lamination. The company also increased Bullet Resistant Glass production by 15% and launched fire-rated glass certified by Intertek. Additionally, EG commissioned a high-precision Glass Digital Printing unit to meet rising demand for customized architectural solutions. Saudi American Glass (SAG) on the other hand, recorded a 13% year-on-year increase, producing over 927,000 square meters—its highest-ever annual output. A surge in demand for digitally printed architectural glass drove production up by over 48%, with a 57% increase forecasted for 2025. This growth is supported by SAG's new brand, Elite Vitrage, which focuses on artistic glass solutions for interior applications, aligning with evolving design trends and premium requirements. This robust growth across Glass LLC is underpinned by the region's infrastructure boom—particularly in Saudi Arabia and the UAE—and an accelerating shift toward sustainability and energy efficiency, leading to increased demand for solar control and low-E coated glass. The rising adoption of façade and curtain walling applications in high-rise and commercial developments continues to drive momentum. 'Together, the companies under Glass LLC export to over 35 countries, with key markets including the GCC, Africa, Europe, and Asia. Emirates Glass and SAG are seeing sustained demand for double-glazed, laminated, and custom-coated units, while Emirates Float Glass anchors the supply chain as one of the region's most technologically advanced float glass facilities', added Abdulaziz Bin Yagub Al Serkal. Looking ahead, Glass LLC is investing in automation, capacity expansion, and next-generation glass technologies—aligned with Saudi Arabia's Vision 2030 infrastructure roadmap and the UAE's Net Zero 2050 ambitions. About Dubai Investments: Dubai Investments is a publicly listed UAE based multi-asset investment Group, managing a diverse portfolio of businesses, generating sustainable financial returns to its shareholders. Established in 1995, Dubai Investments is one of the leading investments Group in the UAE, initiating new businesses and partnering with dynamic entities, creating strategic investment opportunities across the region. With 15,956 shareholders, a paid-up capital of Dhs. 4.25 billion and total assets worth more than Dhs. 22 billion, the Group applies insight and experience to expand and be a reliable growth driver for businesses within sectors like real estate, manufacturing, healthcare, education, investments and services. The Group's diverse portfolio consists of wholly and partly owned companies and reflects the Company's continued focus on business diversification to drive growth in line with evolving industry trends. Focused on leveraging strengths with an interest in establishing existing and new business opportunities with a long-term, strategic and creative approach and with an emphasis on sustainable returns and capital growth, Dubai Investments collaborates on investment strategies meeting the changing needs of the economy and the societies in which it operates. Complementing the strategic objectives and creating value for stakeholders, the Group pursues growth through mergers and acquisitions and business expansions.
Dubai Eye
08-05-2025
- Business
- Dubai Eye
UAE foreign trade hits record of AED 5.23 trillion in 2024
UAE foreign trade reached a surplus of over AED 490 billion, with the Ministry of Economy's Foreign Trade team and the Comprehensive Economic Partnership Agreements (CEPA) negotiators team recognised for their contributions. His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, met with and commended the entities leading the UAE's foreign trade efforts, encouraging continued innovation to preserve the country's leading position on the global trade map and to sustain the growth of its international trade relations. During the meeting with met with a number of ministers, members of the Federal National Council, dignitaries and investors, Sheikh Mohammed said trade has long been a foundation of great civilisations and remains a key pillar of sustainable economic growth. Sheikh Mohammed highlighted the UAE is not merely keeping pace with global trade, but actively shaping its future. His Highness expressed his appreciation to all those contributing to the growth of the UAE's trade ecosystem, noting that their efforts are helping to write the success story of a nation committed to global economic leadership. The UAE has signed 21 CEPAs so far, expanding its access to global markets in Asia, Africa, and Latin America - markets that collectively represent around 25 per cent of the world's population. These agreements are an integral part of the UAE's 'Projects of the 50', which play a key role in boosting the nation's non-oil trade. The UAE now accounts for 41.4 per cent of the total goods exports in the Middle East, ranking 11th globally in goods exports and 13th in services exports.
ARN News Center
08-05-2025
- Business
- ARN News Center
UAE foreign trade hits record of AED 5.23 trillion in 2024
UAE foreign trade reached a surplus of over AED 490 billion, with the Ministry of Economy's Foreign Trade team and the Comprehensive Economic Partnership Agreements (CEPA) negotiators team recognised for their contributions. His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, met with and commended the entities leading the UAE's foreign trade efforts, encouraging continued innovation to preserve the country's leading position on the global trade map and to sustain the growth of its international trade relations. During the meeting with met with a number of ministers, members of the Federal National Council, dignitaries and investors, Sheikh Mohammed said trade has long been a foundation of great civilisations and remains a key pillar of sustainable economic growth. Sheikh Mohammed highlighted the UAE is not merely keeping pace with global trade, but actively shaping its future. His Highness expressed his appreciation to all those contributing to the growth of the UAE's trade ecosystem, noting that their efforts are helping to write the success story of a nation committed to global economic leadership. The UAE has signed 21 CEPAs so far, expanding its access to global markets in Asia, Africa, and Latin America - markets that collectively represent around 25 per cent of the world's population. These agreements are an integral part of the UAE's 'Projects of the 50', which play a key role in boosting the nation's non-oil trade. The UAE now accounts for 41.4 per cent of the total goods exports in the Middle East, ranking 11th globally in goods exports and 13th in services exports.
TAG 91.1
08-05-2025
- Business
- TAG 91.1
UAE foreign trade hits record of AED 5.23 trillion in 2024
The Foreign Trade team at the Ministry of Economy and the Comprehensive Economic Partnership Agreements (CEPA) negotiation team have been recognised for boosting UAE's foreign trade, achieving a surplus of over AED 490 billion. His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, met with and commended the strong coordination among the entities leading the UAE's foreign trade efforts, encouraging continued innovation to preserve the country's leading position on the global trade map and to sustain the growth of its international trade relations. The meeting, which took place at Union House in Dubai, was attended by H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister and Minister of Defence of the UAE; and H.H. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, and Deputy Prime Minister and Minister of Finance. During the meeting, which was also attended by Dr. Thani Al Zeyoudi, Minister of State for Foreign Trade, Sheikh Mohammed said that trade has long been a foundation of great civilisations and remains a key pillar of sustainable economic growth. The gathering was also attended by a number of Sheikhs, Ministers, Directors General, members of the Federal National Council, dignitaries, and investors. His Highness engaged in discussions with attendees, focusing on the UAE's sustainable development, economic progress, and the private sector's role in driving growth and innovation. Sheikh Mohammed also said that the UAE is not merely keeping pace with global trade, but actively shaping its future. As a strategic bridge between East and West, the nation continues to earn the trust and respect of the international community. His Highness expressed his appreciation to all those contributing to the growth of the UAE's trade ecosystem, noting that their efforts are helping to write the success story of a nation committed to global economic leadership. The UAE has signed 21 CEPAs so far, expanding its access to global markets in Asia, Africa, and Latin America — markets that collectively represent around 25% of the world's population. These agreements are an integral part of the UAE's 'Projects of the 50', which play a key role in boosting the nation's non-oil trade. The UAE now accounts for 41.4% of the total goods exports in the Middle East, ranking 11th globally in goods exports and 13th in services exports.
Sharjah 24
07-05-2025
- Business
- Sharjah 24
VP meets with foreign trade teams at Ministry of Economy
The meeting, which took place at Union House in Dubai, was attended by Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister and Minister of Defence of the UAE; and Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, and Deputy Prime Minister and Minister of Finance. During the meeting, which was also attended by Dr. Thani Al Zeyoudi, Minister of State for Foreign Trade, Sheikh Mohammed said that trade has long been a foundation of great civilisations and remains a key pillar of sustainable economic growth. He emphasised that the UAE's success in this vital sector is the result of a forward-looking vision, robust partnerships, flexible policies, and the dedication of teams who see geography not as a boundary, but as a starting point for ambition. His Highness Sheikh Mohammed bin Rashid commended the strong coordination among the entities leading the UAE's foreign trade efforts, encouraging continued innovation to preserve the country's leading position on the global trade map and to sustain the growth of its international trade relations. Sheikh Mohammed also said that the UAE is not merely keeping pace with global trade, but actively shaping its future. As a strategic bridge between East and West, the nation continues to earn the trust and respect of the international community. His Highness expressed his appreciation to all those contributing to the growth of the UAE's trade ecosystem, noting that their efforts are helping to write the success story of a nation committed to global economic leadership. The meeting was also attended by Lieutenant General Sheikh Ahmed bin Rashid Al Maktoum, Deputy Chairman of Chief of Police and Public Security in Dubai; Sheikh Ahmed bin Saeed Al Maktoum, President of Dubai Civil Aviation Authority, Chairman of Dubai Airports, and Chairman and Chief Executive of Emirates Airline and Group; Sheikh Mansoor bin Mohammed bin Rashid Al Maktoum, President of the UAE National Olympic Committee; and Sheikha Latifa bint Mohammed bin Rashid Al Maktoum, Chairperson of the Dubai Culture and Arts Authority. The gathering was also attended by a number of Sheikhs, Ministers, Directors General, members of the Federal National Council, dignitaries, and investors. His Highness engaged in discussions with attendees, focusing on the UAE's sustainable development, economic progress, and the private sector's role in driving growth and innovation. The UAE has signed 21 CEPAs so far, expanding its access to global markets in Asia, Africa, and Latin America—markets that collectively represent around 25% of the world's population. These agreements are an integral part of the UAE's 'Projects of the 50', which play a key role in boosting the nation's non-oil trade. The UAE now accounts for 41.4% of the total goods exports in the Middle East, ranking 11th globally in goods exports and 13th in services exports. On the sidelines of the meeting, Sarah Al Amiri, Minister of Education, delivered a lecture on the integration of Artificial Intelligence (AI) into the curriculum of public schools across the UAE. She emphasised the importance of the UAE government's decision in equipping future generations with the skills to master a technology that will have a transformative impact on various aspects of life, extending beyond just work and production to influence societies at large.
