logo

Mubadala, ADPIC in deal to pioneer sustainable Abu Dhabi projects

Zawya10 hours ago

Mubadala Investment Company, an Abu Dhabi sovereign investor, and the Abu Dhabi Projects and Infrastructure Centre (ADPIC) have signed a partnership agreement to foster collaborations in various areas. The deal features a comprehensive framework for cooperation between the two organisations, aimed at advancing infrastructure initiatives crucial to Abu Dhabi's development as a leading destination of choice.
These include comprehensive feasibility studies, knowledge sharing, and assessments to evaluate the viability for proposed projects, as well as sharing insights to develop sustainable financing models.
The partnership between Mubadala and ADPIC is set to drive forward-thinking solutions and comprehensive project planning across Abu Dhabi's infrastructure landscape, reflecting a robust commitment to future-proofing the emirate's growth and solidifying its position as a dynamic hub for investment and development.
The agreement was signed on the first day of Abu Dhabi Infrastructure Summit (ADIS) 2025, in the presence of Maysarah Mahmoud Eid, Director-General, ADPIC and Khalifa Al Romaithi, Executive Director of UAE Real Estate at Mubadala's UAE Investments Platform.
The Abu Dhabi Infrastructure Summit, hosted by ADPIC, is a strategic platform that convenes global leaders, investors, and industry experts to explore innovation, investment, and sustainability in infrastructure.
The event supports Abu Dhabi's long-term vision by fostering collaboration and showcasing opportunities that will shape the Emirate's future-ready, resilient built environment.
Speaking on the occasion, Eid said: "Through this collaboration with Mubadala, we are dedicated to pioneering sustainable, high-quality projects that will promote economic growth and create lasting infrastructure developments that meet the emirate's needs while contributing to its prosperity."
Al Romaithi said: "Our partnership with ADPIC is centred around spearheading future focused state-of-the-art infrastructure projects in Abu Dhabi."
"This collaboration is a testament to Mubadala and ADPIC's commitment to support Abu Dhabi Government ambitions in making the emirate one of the world's most liveable and economically resilient cities," he added.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Oil prices jump as Israel-Iran conflict enters seventh day
Oil prices jump as Israel-Iran conflict enters seventh day

Zawya

timean hour ago

  • Zawya

Oil prices jump as Israel-Iran conflict enters seventh day

Oil prices rose on Thursday after Israel and Iran continued to exchange missile attacks overnight and U.S. President Donald Trump's stance on the conflict kept investors on edge. Brent crude futures rose $1.06, or 1.4%, to $77.76 a barrel by 1151 GMT. U.S. West Texas Intermediate crude for July was up $1.26, or 1.7%, at $76.40. Brent had surged to its highest in nearly five months at $78.50 on June 13, when Israel began its attacks. The conflict entered its seventh day on Thursday after Israel struck Iranian nuclear sites and Iranian missiles hit an Israeli hospital. There is still a "healthy risk premium baked into the price as traders wait to see whether the next stage of the Israel-Iran conflict is a U.S. strike or peace talks", said Tony Sycamore, analyst at trading platform IG. Goldman Sachs said on Wednesday that a geopolitical risk premium of about $10 a barrel is justified, given lower Iranian supply and risk of wider disruption that could push Brent crude above $90. President Trump told reporters on Wednesday that he had yet to decide whether the U.S. will join Israel in its attacks on Iran. As a result of the unpredictability that has long characterised Trump's foreign policy, "markets remain jittery, awaiting firmer signals that could influence global oil supply and regional stability" said Priyanka Sachdeva, analyst at Phillip Nova. The risk of major energy disruption will rise if Iran feels existentially threatened, and U.S. entry into the conflict could trigger direct attacks on tankers and energy infrastructure, said RBC Capital analyst Helima Croft. Iran is the third-largest producer among members of the Organization of the Petroleum Exporting Countries, extracting about 3.3 million barrels per day (bpd) of crude oil. About 18 million to 21 million bpd of oil and oil products move through the Strait of Hormuz along Iran's southern coast and there is widespread concern the fighting could disrupt trade flows. Separately, the U.S. Federal Reserve kept interest rates steady on Wednesday but pencilled in two cuts by the end of the year. Lower interest rates could stimulate the economy, helping to support demand for oil. On the supply side, U.S. crude stockpiles fell sharply last week, registering the largest decline in a year, the Energy Information Administration said on Wednesday. Russia, the U.S. and Saudi Arabia could act jointly to stabilise oil markets if needed, Russia's investment envoy Kirill Dmitriev told Reuters.

Saudi energy minister on potential loss of Iranian oil: we only react to realities
Saudi energy minister on potential loss of Iranian oil: we only react to realities

Zawya

timean hour ago

  • Zawya

Saudi energy minister on potential loss of Iranian oil: we only react to realities

Saudi Energy Minister Prince Abdulaziz bin Salman, asked if the kingdom and Russia would step in to replace any potential loss of Iranian oil, said on Thursday that the country will "only react to realities". The prince, speaking at an economic forum in St Petersburg, added that OPEC+ has been a reliable organisation that was attentive to circumstances when they prevailed, declining to comment on hypothetical questions. Oil prices have risen more than $10 over the past week on Middle East escalations after Israel attacked Iran last week. While the two foes have targeted energy infrastructure in each other's countries, a disruption to Middle Eastern oil exports or production has yet to happen. The U.S. is weighing a direct involvement in the conflict, an option which analysts say would raise the risk premium to oil prices even higher, increasing the chances of disruptions to energy supplies. Iran is a member of the Organization of the Petroleum Exporting Countries, but is exempt from production cuts that the group along with other allies including Russia have in place. OPEC+, as the alliance is known, was in the process of increasing production targets for eight of its members before Israel's attack on Iran last week. The group of eight which includes Saudi Arabia, Russia, the UAE, Iraq, Kuwait, Oman, Algeria and Kazakhstan will meet next on July 6 to decide on whether to increase production further from August. At their last meeting, Russia favoured pausing an output hike of 411,000 bpd for July, but eventually agreed for the hike to go ahead. (Reporting by Ahmad Ghaddar, Vladimir Soldatkin and Olesya Astakhova; Editing by Mark Trevelyan and Louise Heavens)

Dubai DET, Marriott International sign MoU to strengthen hospitality ecosystem
Dubai DET, Marriott International sign MoU to strengthen hospitality ecosystem

Zawya

timean hour ago

  • Zawya

Dubai DET, Marriott International sign MoU to strengthen hospitality ecosystem

The Dubai Department of Economy and Tourism (DET) has signed a strategic Memorandum of Understanding (MoU) with Marriott International, one of the world's largest hospitality companies, which aims to further boost the city's international visibility, diversify the destination offering, elevate guest experiences, and nurture next-generation industry talent. The MoU extends the long-standing collaborative efforts between DET and Marriott International, and marks another important step in advancing the goals of the Dubai Economic Agenda, D33, to further consolidate Dubai's position as a leading global destination for business and leisure. Signed by Issam Kazim, CEO of the Dubai Corporation for Tourism and Commerce Marketing (DCTCM), part of DET, and Sandeep Walia, COO, Middle East & Luxury, Europe, Middle East and Africa at Marriott International, the MoU reinforces their commitment to accelerate the growth of the city's tourism and hospitality sectors. The MoU sets the foundation for potential collaborations whereby Dubai will be prominently promoted to guests worldwide through Marriott International's portfolio of hotels. In addition, potential joint marketing initiatives including multi-channel advertising, high-impact social media campaigns, and influencer collaborations will spotlight Dubai's unique attractions, cultural heritage, and exceptional experiences, aiming to drive wider international awareness and visitor demand. Issam Kazim, CEO of the Dubai Corporation for Tourism and Commerce Marketing (DCTCM), part of DET, said, 'The growth and resilience of our tourism sector is driven by robust strategies and the collective commitment of forward-thinking partners such as Marriott International. The new MoU is inspired by visionary leadership to ensure Dubai remains at the forefront of global tourism and hospitality innovation. By leveraging the reach and expertise of one of the world's most prominent hotel groups, we are amplifying Dubai's global profile and delivering richer experiences to our visitors. As we pursue the ambitious goals of the Dubai Economic Agenda, D33, such alliances embody the spirit of public-private collaboration that define Dubai's continued success in delivering unforgettable experiences to visitors from around the world.' Sandeep Walia, COO, Middle East & Luxury, Europe, Middle East and Africa, Marriott International, added, 'We are proud to have a portfolio of over 50 hotels in Dubai across all segments – select, premium and luxury, that align with the diversity of experiences the city offers for every type of traveller. DET continues to set an example of unity and cohesion between the public and private sector, and their collaboration has been an integral part of our long-standing legacy and success in this market. We remain committed to working with DET to deliver memorable moments to guests from across the globe and provide them with an opportunity to unlock and discover experiences in this beautiful destination.' Plans include the integration of Dubai's iconic landmarks, culinary scene, and immersive experiences into Marriott International's seasonal travel packages and within the group's loyalty programme offering. This initiative aims to provide guests with authentic, locally-curated experiences, deepening their connection with the city and supporting Dubai's position as a must-visit destination. The collaboration between DET and Marriott International highlights the strength of Dubai's public-private partnerships in driving sustained tourism sector growth, evidenced by a robust performance so far in 2025. Dubai welcomed 7.15 million international overnight visitors in the first four months of this year, up 7 percent on the same period last year. This follows a record 18.72 million visitors, who arrived in Dubai in 2024, a 9 percent YoY growth. To further elevate service standards, DET's Dubai College of Tourism (DCT) will deliver specialised training for hotel staff through its Dubai Way programme, featuring customised training modules focused on customer service excellence, cultural awareness, and guest relations, ensuring that hospitality professionals deliver world-class service tailored to diverse global visitors. The MoU reflects DET's ongoing efforts to establish meaningful partnerships, including the Hospitality Apprenticeship Programme for Emiratis launched by DCT and Marriott International in March 2025. Through this initiative, students receive exclusive internship and mentorship opportunities with industry leaders, further supporting Dubai's talent development agenda and specifically helping to build a broad pool of home-grown talent for the tourism workforce. With over 80 properties and 23,000 rooms across 23 renowned brands in the UAE – including 59 properties in Dubai alone – Marriott International continues to play a key role in shaping the city's hospitality landscape. DET's collaboration with Marriott International is part of its broader strategy to engage global industry leaders in shaping a future-ready tourism sector.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store