Latest news with #AED193
Hi Dubai
26-05-2025
- Business
- Hi Dubai
UAE Real Estate Transactions Surge Past AED239 Billion in First Quarter of 2025
Real estate activity across five UAE emirates soared to over AED239 billion in the first quarter of 2025, signaling strong investor confidence and robust market momentum, official data revealed. Between January and March, more than 94,700 sales, purchases, and mortgage deals were recorded in Abu Dhabi, Dubai, Sharjah, Ajman, and Ras Al Khaimah. This marked a significant upswing in the country's property sector, driven by flexible regulations and an expanding pipeline of development projects. Abu Dhabi posted AED25.3 billion in transactions, a 34.5 percent increase compared to the same period in 2024. The emirate saw 3,819 sale deals worth AED15.51 billion and 3,077 mortgage transactions totaling AED9.8 billion, reflecting strong market activity. Dubai led the market with AED193 billion in real estate transactions from 58,039 deals, up 16.2 percent in value year-on-year. Sales reached AED142 billion from 45,077 transactions, a 30 percent rise, while mortgages grew by 27 percent in volume to AED41 billion. Sharjah's property sector recorded AED13.2 billion in deals, growing nearly 32 percent year-on-year. Ajman's market also expanded by 29 percent, totaling AED5.55 billion, including AED3.69 billion from sales and purchases and AED905 million from mortgages. Ras Al Khaimah reported strong demand for residential off-plan properties, with sales exceeding AED2.4 billion from over 1,300 transactions, highlighting growth in the northern emirate's housing market. Talal Al Dhiyebi, CEO of Aldar Properties, attributed the surge to the UAE's overall economic progress, positioning the country as a top destination for living, working, and investing. Aldar alone posted AED8.9 billion in Q1 sales, up 42 percent from last year, with occupancy rates above 95 percent. The strong start to 2025 underscores continued confidence and growth potential in the UAE's real estate landscape. News Source: Emirates News Agency
Trade Arabia
04-03-2025
- Business
- Trade Arabia
AD Ports to receive Panamax-Class cranes for Safaga terminal
AD Ports Group, an enabler of integrated trade, transport and logistics solutions, today announced it was preparing to receive three new state-of-the-art Panamax cranes from Shanghai Zhenhua Heavy Industries Co (ZPMC), ordered for the group's new multipurpose cargo terminal in Safaga, Egypt, which is expected to be operational in the second half of 2026. Under a 30-year concession agreement signed with the Red Sea Ports Authority (RSPA) in 2023, the group is developing and will operate a multi-purpose terminal in Safaga Port. AD Ports Group is investing AED193 million ($52.55 million) in three ship-to-shore (STS) cranes, and six hybrid rubber tyred gantry (RTG) cranes for Noatum Ports - Safaga Terminal, the company said. This is in addition to a contract for six ship-to-shore (STS) cranes, and 17 hybrid rubber tyred gantry (RTG) cranes awarded to ZPMC for a cost of over AED420 million to be deployed in terminal projects in New East Mole Terminal in Pointe Noire - Republic of the Congo, and Noatum Ports, Luanda Terminal in Angola as announced by AD Ports Group in September last year. The impending delivery of the cranes signals the start of final preparations for Noatum Ports - Safaga Terminal, following the appointment, in December last year, of Hassan Allam Construction, Egypt's leading engineering and construction company, to build the infrastructure of the multipurpose terminal on Egypt's Red Sea coast, which will be the first internationally operated port terminal in Upper Egypt region. The terminal's area includes erecting superstructure, equipment, buildings, and utilities to create advanced facilities and leading-edge infrastructure and handle diverse cargo including dry bulk, liquid bulk, containerised cargo and Ro-Ro vehicles. Noatum Ports - Safaga Terminal will encompass approximately 810,000 sq m, a 1,000-m quay wall, with container capacity of 450K TEUs , 5 million tonnes dry bulk and general cargo capacity, 1 million tonnes liquid bulk capacity, Ro-Ro facilities with 50K CEUs capacity, as well as common areas. The multiple facilities will include administration buildings, workshops, warehouses, and authority buildings, along with extensive infrastructure development including roads, utilities and security systems. The project will feature a 48,000 sq m concrete apron, an 80,354 sq m container terminal with supporting infrastructure, and approximately 66,360 sq m for general cargo and break-bulk operations. Ahmed Al Mutawa, AD Ports Group Regional CEO, said: 'Noatum Ports - Safaga Terminal will support Egypt's economic development with creation of the Red Sea region's most modern, efficient terminal facility, which will vastly improve the area's connectivity and lower costs for traders and businesses. We are committed to delivering on our agreement to realise this world-class facility with our Egyptian partners, the Egyptian Ministry of Transport and RSPA. Noatum Ports - Safaga Terminal is an important milestone in the development of our Group's growing ports and maritime strategy in Egypt, where we are taking a lead role through cruise, multipurpose and Ro-Ro concessions to lay a foundation for rapid growth.' The Safaga concession is part of a broader expansion into Egypt's Red Sea region, where the group also has concessions to operate three cruise passenger terminal in Safaga, Hurghada and Sharm El Sheikh, and has initialed agreements with Egyptian authorities to operate a passenger cruise terminal and a Ro-Ro terminal in Ain Sokhna, near the Red Sea mouth of the Suez Canal. Through its Egyptian maritime shipping lines, Transmar, TCI, and Safina B.V., the Group is also a major provider of connectivity to local and international clients, the company added. - TradeArabia News Service
Zawya
04-03-2025
- Business
- Zawya
AD Ports Group prepares to receive Panamax cranes for new terminal in Egypt
AD Ports Group today announced it was preparing to receive three new state-of-the-art Panamax cranes from Shanghai Zhenhua Heavy Industries Co. Ltd (ZPMC), ordered for the Group's new multipurpose cargo terminal in Safaga, Egypt, which is expected to be operational in the second half of 2026. Under a 30-year concession agreement signed with the Red Sea Ports Authority (RSPA) in 2023, the Group is developing and will operate a multipurpose terminal in Safaga Port. AD Ports Group is investing AED193 million in three ship-to-shore (STS) cranes and six hybrid rubber tyred gantry (RTG) cranes for Noatum Ports - Safaga Terminal. This is in addition to a contract for six ship-to-shore (STS) cranes, and 17 hybrid rubber tyred gantry (RTG) cranes awarded to ZPMC for a cost of over AED420 million to be deployed in terminal projects in New East Mole Terminal in Pointe Noire - Republic of the Congo, and Noatum Ports, Luanda Terminal in Angola as announced by AD Ports Group in September last year. The impending delivery of the cranes signals the start of final preparations for Noatum Ports - Safaga Terminal, following the appointment, in December last year, of Hassan Allam Construction, Egypt's leading engineering and construction company, to build the infrastructure of the multipurpose terminal on Egypt's Red Sea coast, which will be the first internationally operated port terminal in Upper Egypt region. The terminal's area includes erecting superstructure, equipment, buildings, and utilities to create advanced facilities and leading-edge infrastructure and handle diverse cargo including dry bulk, liquid bulk, containerised cargo and Ro-Ro vehicles. Noatum Ports - Safaga Terminal will encompass approximately 810,000 square metres, a 1,000-metre quay wall, with container capacity of 450K TEUs, five million tonnes dry bulk and general cargo capacity, 1 million tonnes liquid bulk capacity, Ro-Ro facilities with 50K CEUs capacity, as well as common areas. The multiple facilities will include administration buildings, workshops, warehouses, and authority buildings, along with extensive infrastructure development including roads, utilities and security systems. The project will feature a 48,000 square metre concrete apron, an 80,354 square metre container terminal with supporting infrastructure, and approximately 66,360 square metres for general cargo and break-bulk operations. Ahmed Al Mutawa, AD Ports Group Regional CEO, said "Noatum Ports - Safaga Terminal will support Egypt's economic development with the creation of the Red Sea region's most modern, efficient terminal facility, which will vastly improve the area's connectivity and lower costs for traders and businesses."We are committed to delivering on our agreement to realise this world-class facility with our Egyptian partners, the Egyptian Ministry of Transport and RSPA. He added that Noatum Ports - Safaga Terminal is an important milestone in developing the Group's growing ports and maritime strategy in Egypt. The Safaga concession is part of a broader expansion into Egypt's Red Sea region, where the Group also has concessions to operate three cruise passenger terminals in Safaga, Hurghada and Sharm El Sheikh, and has initialed agreements with Egyptian authorities to operate a passenger cruise terminal and a Ro-Ro terminal in Ain Sokhna, near the Red Sea mouth of the Suez Canal. Through its Egyptian maritime shipping lines, Transmar, TCI, and Safina B.V., the Group is also a major provider of connectivity to local and international clients.
