Latest news with #AED2.1
Trade Arabia
05-05-2025
- Business
- Trade Arabia
Alpha Dhabi Holding reports $4.74bn revenue for Q1
Alpha Dhabi Holding has reported a revenue of AED17.4 billion ($4.74 billion) for the quarter ending March 31, 2025, a 23 percent increase YoY, reflecting the depth of Alpha Dhabi's diverse portfolio alongside its consistent track record of growth. The company's adjusted EBITDA 1 for the period is AED4.4 billion, up 33 percent year-on-year (YoY). Alpha Dhabi's continued momentum in strategy execution across key verticals has been a key driver of the strong performance, said a Wam news agency report. Net profit stood at AED2.1 billion, down from the same period last year, reflecting changes in the fair market value of some of the group's public listed investments. The group's financial position remains strong, with total assets of AED185.2 billion and an equity of AED93.5 billion. Alpha Dhabi is strategically poised to forge further ahead with its growth ambitions, which will include further possibilities for acquisitions and geographical diversification. The increasing diversity and depth of Alpha Dhabi's portfolio have been a significant driver of its revenue growth and contribution to the increase in net profit from operations. The company's portfolios in real estate (AED6.4 billion), industrial (AED6.2 billion), construction (AED2.7 billion), and services and others (AED2.1 billion) contributed significantly to total revenue. Mohamed Thani Murshed Ghannam Al Rumaithi, Chairman of Alpha Dhabi Holding, said: 'Alpha Dhabi began 2025 on a strong footing, building on a year of transformation and guided by a clear strategy for future growth. Collectively, we have advanced the business both horizontally and vertically, strategically capturing opportunities with the potential to deliver deep, meaningful growth. Our financial performance for the quarter reflects the pace of this growth, with our success being underpinned by the evolution of a portfolio which spans diverse geographies and future-focused sectors.' Hamad Al Ameri, Managing Director and Group CEO of Alpha Dhabi Holding, said the Q1 2025 results demonstrate the power of Alpha Dhabi's investment strategy by focusing on opportunities created by growing economies and populations, technological disruption and sustainable business models. "We remain focused on investments that diversify revenues, create value across the economy, and position Alpha Dhabi for long-term growth,' he added.
Trade Arabia
04-05-2025
- Business
- Trade Arabia
Clédor and Arthouse Hotel, NYC partner for RAK residences
Clédor, a real estate development management firm, and New York City's Arthouse Hotel have partnered to launch Al Marjan Arthouse residences on the Al Marjan Islands in Ras Al Khaimah, the companies have announced. The AED400 million ($109 million) project marks Arthouse Hotel's first residential venture outside the US. Clédor, with a development pipeline valued at over AED2.1 billion, said the branded residences align with its strategy to create high-yield, design-focused communities, targeting investor returns of over 150% and average unit prices exceeding AED 14 million. The signing ceremony took place in Dubai on Sunday, attended by representatives from Clédor, Arthouse, Marjan, and Prospect. These included Omar Gull, Founder and Chairman of Clédor, Karim El Aqabi, from Arthouse, Arch. Abdulla Al Abdouli, CEO, Marjan and Islam El Dafrawy, Co-founder, Prospect. Founder & Chairman of Clédor Omar Gull said: "Today's signing marks the beginning of a powerful collaboration rooted in excellence, heritage, and innovation. We are very excited to partner with Arthouse Hotel, NYC, to bring a legacy of refined and artistic living into the heart of the UAE's most dynamic communities – Al Marjan Island. With Arthouse, we're introducing a new style of luxury, one that brings a creative, cultural dimension to Ras Al Khaimah.' 'Al Marjan Island is already a powerhouse for leisure and entertainment, drawing visitors and investors from all over the world. Through this partnership with Arthouse, we hope to add a new layer to the island's story, a place where art and culture live side by side with lifestyle and hospitality. 'We are truly grateful to Arthouse NYC, and Marjan leadership and our strategic partner Prospect for believing in our vision. Together our partnership will continue to add to the UAE's every-growing and vibrant real estate landscape,' he added. The collaboration brings together Clédor's robust development expertise with the refined hospitality legacy of Arthouse NYC to introduce a new standard of living through branded residences on Al Marjan Island, Ras Al Khaimah and Meydan, Dubai. The residences will reflect the same elevated design, service, and lifestyle experience that have defined Arthouse's presence on New York's Upper West Side for over 100 years, according to Clédor. 'I am excited to announce this new chapter for Arthouse and we are honoured to partner with Clédor, who have a deep understanding of the UAE market and clientele,' said Karim El Aqabi, spokesperson of Arthouse. 'We trust in their experience to build something special and lasting. This is the first time Arthouse is stepping outside the United States of America and together we hope to build a timeless legacy. We chose the UAE, and especially Al Marjan Island, because of the robust growth of real estate, vision of the leadership, and ambition and forward-thinking outlook of the region. This is the beginning of more projects to come to this region from the Arthouse brand portfolio. We would like to express our gratitude to all our stakeholders for the trust and partnership.' Marjan's CEO Arch. Abdulla Al Abdouli said: 'The exquisite mix of fascinating nature and well-preserved history of Ras Al Khaimah has been attracting luxurious facilities and projects to the emirate, elevating our iconic island to one of the UAE's top destinations for tourism and growth, attracting the best of investments. 'It is with great pleasure that we welcome Arthouse Residences to Al Marjan Island. Their presence reflects our continued commitment to developing a world-class destination defined by architectural excellence, cultural enrichment, and exceptional quality of life. We look forward to the unique character and prestige Arthouse Residences will bring to our evolving landscape and growing community.' 'We are proud to partner with Clédor in bringing Arthouse NYC to the UAE — a bold and visionary undertaking that bridges global creativity with the region's dynamic real estate landscape. This collaboration reflects our shared belief in the power of a reputed global brand, investment prospects in Al Marjan Island and innovation in our industry that can shape extraordinary spaces and enduring value. Together, we are laying the foundation for yet another new benchmark in culturally inspired development that resonates with international sensibilities and local ambitions,' added Islam El Dafrawy, Co-founder, Prospect.
Zawya
12-03-2025
- Business
- Zawya
DEWA wins award for digital substations
Dubai Electricity and Water Authority (DEWA) has been awarded the 'Most Innovative Digital Transformation' recognition by the UAE's Ministry of Cabinet Affairs for its digital power transmission substation initiative. DEWA highlighted in a press statement that the 132/11 kV substations have shortened construction time by 15 percent and cut initial costs by up to 2.7 million UAE dirhams ($735,144) per substation. It said the design has also led to a reduction of 386 tonnes of carbon emissions per substation through a more compact building structure, while saving over 54 tonnes of emissions annually by improving energy efficiency. On Tuesday, the DFM-listed utility said its total investment in existing and completed 132kV transmission projects in 2024 reached AED2.1 billion ($572 million). (Writing by Deva Palanisamy; Editing by Anoop Menon) (
Zawya
05-02-2025
- Business
- Zawya
IFA Hotels closes $541mln deals for key Sharjah develpment
IFA Hotels & Resorts, the developer of the Al Tay Hills project in Sharjah, owned by Kuwait Real Estate Company (Aqarat), has announced that it has secured real estate deals worth AED2.1 billion ($571 million) within just one week. This remarkable achievement is a testament to the effective marketing of the project under the company's stewardship. Al Tay Hills project spans over 6 million sq ft of land owned by Aqarat and comprises 1,100 villas and townhouses designed to meet a wide range of customer aspirations. Offering units from three- to six-bedrooms across three development phases, the project features private pools and modern designs that blend luxury with comfort. The first phase is scheduled for delivery in Q1 of 2028, thus highlighting the company's commitment to delivering exceptional projects that reinforce its market position. Khaled Esbaitah, the Chairman of IFA Hotels and Resorts, said: "We are proud to announce the closing of AED2.1 billion in real estate deals at Al Tay Hills within just one week." "Strategically located near the Sharjah Grand Mosque and along Emirates Road - the primary intersection linking Sharjah and Dubai - Al Tay Hills stands out with the region's longest green river, which spans 2.5 km and serves as both a natural lung and central artery," he noted. The project also boasts expansive green spaces, playgrounds for all ages, three mosques, and a variety of restaurants, cafes, and retail outlets. Additionally, residents will enjoy an 11-km network of swimming pools, walking and cycling paths, thus ensuring an exceptional living experience that harmonises modernity with nature. "This overwhelming demand reflects the rising interest in the project's residential units and confirms Sharjah's growing stature as a preferred investment destination, thanks to its attractive environment and promising opportunities," he stated. Jamal Al Shawish, the Head of Sales and Marketing, said: "These sales results are a clear indicator of the strength of the UAE real estate market and the rapid expansion of Sharjah's property sector. Our impressive performance at the 'Acres' exhibition further underscores the confidence investors have in our project." With this outstanding performance, IFA Hotels & Resorts continues to cement its position as one of the region's leading developers, reaffirming its commitment to delivering premium residential projects that meet investor expectations and offer promising opportunities in the heart of Sharjah, he added.- TradeArabia News Service Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
Trade Arabia
04-02-2025
- Business
- Trade Arabia
IFA Hotels closes $541m deals for key Sharjah develpment
IFA Hotels & Resorts, the developer of the Al Tay Hills project in Sharjah, owned by Kuwait Real Estate Company (Aqarat), has announced that it has secured real estate deals worth AED2.1 billion ($571 million) within just one week. This remarkable achievement is a testament to the effective marketing of the project under the company's stewardship. Al Tay Hills project spans over 6 million sq ft of land owned by Aqarat and comprises 1,100 villas and townhouses designed to meet a wide range of customer aspirations. Offering units from three- to six-bedrooms across three development phases, the project features private pools and modern designs that blend luxury with comfort. The first phase is scheduled for delivery in Q1 of 2028, thus highlighting the company's commitment to delivering exceptional projects that reinforce its market position. Khaled Esbaitah, the Chairman of IFA Hotels and Resorts, said: "We are proud to announce the closing of AED2.1 billion in real estate deals at Al Tay Hills within just one week." "Strategically located near the Sharjah Grand Mosque and along Emirates Road - the primary intersection linking Sharjah and Dubai - Al Tay Hills stands out with the region's longest green river, which spans 2.5 km and serves as both a natural lung and central artery," he noted. The project also boasts expansive green spaces, playgrounds for all ages, three mosques, and a variety of restaurants, cafes, and retail outlets. Additionally, residents will enjoy an 11-km network of swimming pools, walking and cycling paths, thus ensuring an exceptional living experience that harmonises modernity with nature. "This overwhelming demand reflects the rising interest in the project's residential units and confirms Sharjah's growing stature as a preferred investment destination, thanks to its attractive environment and promising opportunities," he stated. Jamal Al Shawish, the Head of Sales and Marketing, said: "These sales results are a clear indicator of the strength of the UAE real estate market and the rapid expansion of Sharjah's property sector. Our impressive performance at the 'Acres' exhibition further underscores the confidence investors have in our project."
