Latest news with #AED20
Hi Dubai
27-05-2025
- Business
- Hi Dubai
UAE Leads Global Rankings in Digital Government and Telecom Infrastructure
The UAE has claimed the top spot globally in telecommunications infrastructure, digital government framework, and digital content, according to the newly released 'State of Digital Transformation Report' by the Higher Committee for Government Digital Transformation. Presented during the Digital Readiness Retreat, the report highlights the country's digital progress across 12 sectors, including health, education, finance, security, and the environment. The UAE also ranked first in the UN's digital knowledge index and the Government AI Readiness Index 2024 by Oxford Insights. Ohood bint Khalfan Al Roumi, Minister of State for Government Development and the Future and Chair of the Committee, said the report reflects the UAE's commitment to building a future-ready government by streamlining services and improving quality of life through digital innovation. Major efficiency gains were reported in 2024, including AED368 billion saved for users, AED20 billion in government cost reductions, and 530 million labour hours conserved. The transition to digital services also cut carbon emissions by 55.8 million tonnes. Federal government entities processed over 173 million digital transactions, with 91 percent satisfaction among 57 million users. The UAE Pass alone supported 2.6 billion transactions across 15,000 services. Digital achievements also extended to tax, trade, finance, health, and justice services. These include 5.2 million tax transactions, 2 million AI-assisted prescriptions, and 4.2 million digital traffic fine payments. In education, 1.4 million people accessed digital learning, while 13.2 million work permit applications were processed online. With 460 active digital transformation projects and 1,419 services offered, the UAE continues to strengthen its position as a global leader in digital governance. News Source: Emirates News Agency
Arabian Post
23-05-2025
- Business
- Arabian Post
ADNOC Commits Dhs6bn to Boost Domestic Manufacturing
Arabian Post Staff -Dubai Abu Dhabi National Oil Company has entered into framework agreements valued at Dhs6 billion with 12 UAE-based manufacturers to produce critical industrial equipment locally. This initiative, part of the 'Make it in the Emirates' programme, aims to enhance the resilience of the nation's supply chain and create up to 1,300 skilled private-sector jobs. The agreements focus on the domestic production of cables and pressure vessels, essential components in ADNOC's operations. By localising the manufacturing of these items, ADNOC seeks to ensure timely availability, reduce dependency on international suppliers, and mitigate global supply chain disruptions. ADVERTISEMENT The signing took place during the 'Make it in the Emirates' forum in Abu Dhabi, attended by Dr Sultan Ahmed Al Jaber, Minister of Industry and Advanced Technology and ADNOC's Managing Director and Group CEO. Dr Al Jaber emphasised the importance of strengthening local manufacturing capabilities to support the UAE's industrial growth and economic diversification. This move aligns with ADNOC's broader strategy to stimulate domestic manufacturing. Previously, the company announced agreements with over 60 companies to locally produce critical non-oil products, aiming to manufacture AED70 billion worth of products in its procurement pipeline by 2027. These efforts are expected to create thousands of job opportunities and enhance the resilience of the local supply chain. In addition to the current agreements, ADNOC has committed over AED20 billion for the procurement of structures and metal products from national companies. This commitment is part of a broader initiative to stimulate industrial growth and create more private-sector jobs for UAE nationals. The 'Make it in the Emirates' initiative, led by the Ministry of Industry and Advanced Technology, aims to position the UAE as a global hub for advanced industry and innovation. The programme encourages local manufacturing, supports the development of national talent, and promotes sustainable industrial practices. ADNOC's investment in local manufacturing is complemented by its focus on sustainability and technological innovation. The company has been leveraging artificial intelligence and advanced technologies to optimise operations and reduce emissions. Facilities like the Habshan 5 gas processing plant and Zirku Island offshore operations have been at the forefront of deploying such technologies, contributing to ADNOC's goal of becoming a low-carbon energy leader. ADNOC's In-Country Value programme incentivises suppliers to adopt clean technologies and establish new manufacturing facilities in the UAE. Since its inception, the ICV programme has driven significant investment back into the UAE economy, supporting the nation's Net Zero by 2050 Strategic Initiative. The 'Make it in the Emirates' forum serves as a platform for collaboration between government entities, industry leaders, and investors. It showcases the UAE's commitment to fostering a robust industrial sector, enhancing economic resilience, and achieving sustainable growth.
Arabian Business
01-05-2025
- Business
- Arabian Business
Ras Al Khaimah property market set to double by 2030 amid tourism boom
Ras Al Khaimah's residential property stock is on track to double by the end of 2030, with more than 11,000 new units scheduled for completion, according to a report by Savills. The emirate has recorded over AED11 billion in sales transaction values in 2024, with significant momentum in the market since the pandemic. Off-plan sales have dominated transactions, while communities such as Al Marjan Island, Mina Al Arab, and Al Hamra have experienced increases in capital values and rents since 2022. Gaming revenue could generate AED20 billion as RAK transforms into luxury destination 'There is a growing demand for premium residential offerings in RAK. Branded resi dences now make up 32 per cent of the anticipated supply on Al Marjan Island, reflecting buyer appetite for well-located, lifestyle-led investments,' Andrew Cummings, Head of Residential Agency at Savills Middle East said. The report highlights the Sunshine Bay development on Al Marjan Island as a prime example of market momentum. Launched in late 2024 with Savills as master agents, all 240 units sold within three months, achieving average prices exceeding AED2,200 per sq ft. British investors represented more than 40 per cent of buyers among the 37 nationalities who purchased units. Savills is set to launch the Anantara Mina Ras Al Khaimah Residences in April 2025, featuring 84 units including luxury suites, apartments and duplex sky villas. Prices will start from AED2.2 million, with a 60/40 payment plan and handover expected in Q3 2028. The property market expansion coincides with growth in tourism. Ras Al Khaimah welcomed 1.28 million tourists in 2024, representing a 5.1 per cent increase compared to 2023. The visitor mix was evenly split between international and domestic tourists, with 661,000 air arrivals marking a 28 per cent year-on-year increase. Tourism in the emirate has shown consistent growth since 2020, supported by beach resorts, desert landscapes, and activities around Jebel Jais, the UAE's highest peak. Wynn Al Marjan Island to drive record property sales in Ras Al Khaimah A major catalyst for growth is the development of Wynn Al Marjan Island, the UAE's first integrated resort with a commercial gaming operator's licence. The project, set to open in 2027, will span 62 hectares on Al Marjan Island and feature 1,542 rooms and suites, 225,000 sq ft of gaming space, 15,000 sq m of retail, and entertainment facilities. The potential economic impact is substantial, with analysts noting that if UAE gaming revenue reaches 1.6 per cent of GDP – comparable to Singapore – it could generate more than AED 20 billion in revenue. While historically dependent on Dubai for luxury amenities, Ras Al Khaimah is developing its own offerings. These include the Ritz-Carlton Al Wadi's Zuma winter pop-up and improved education options. In the 2023/24 academic year, seven schools received a 'good' rating from the Ministry of Education, up from three the previous year. The British School Al Hamra became the only school in the Northern Emirates to achieve a 'very good' rating. 'RAK's evolution is now beyond tourism alone. We're seeing the pieces come together, infrastructure, education, entertainment, and residential development, which together make a compelling case for long-term investment and growth,' Rachael Kennerley, Head of Research at Savills Middle East added.
Emirates 24/7
15-03-2025
- Business
- Emirates 24/7
Mohammed bin Rashid attends MBRGI's signing of agreements for three endowment buildings in support of the Fathers' Endowment campaign
His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, attended the signing of agreements between the Mohammed Bin Rashid Al Maktoum Global Initiatives (MBRGI) and Imtiaz Developments, SAMANA Developers, and Buimerc Corporation Ltd. Under the agreements, each developer will construct an endowment building within MBRGI's education complex at Dubai Academic City in support of the Fathers' Endowment campaign, launched by HH Sheikh Mohammed bin Rashid Al Maktoum. Coinciding with Ramadan, the Fathers' Endowment campaign was launched in honour of fathers in the UAE and aims to create a sustainable endowment fund to provide treatment and healthcare for the poor and needy. His Excellency Mohammad Al Gergawi, Minister of Cabinet Affairs and Secretary General of MBRGI, signed agreements with Masih Imtiaz, CEO of Imtiaz Developments; Imran Farooq, CEO of SAMANA Developers; and Siddharth Balachandran, Executive Chairman and CEO of Buimerc Corporation Ltd., for the development of endowment buildings valued at AED50 million, AED40 million, and AED20 million, respectively. Revenues from the endowment buildings will support the Fathers' Endowment campaign and its goal of enhancing healthcare access for people in need. This includes developing hospitals, providing essential medical equipment and medications, expanding capacity, and upgrading operating rooms. These investments will create sustainable opportunities to enhance the quality of life for those in need. Creating positive change His Excellency Mohammad Al Gergawi said that the Fathers' Endowment campaign embodies the vision of HH Sheikh Mohammed bin Rashid Al Maktoum for sustainable giving, and his belief in philanthropy as the most significant investment for creating positive change and helping the less fortunate to meet their basic needs. Al Gergawi highlighted the significance of Ramadan campaigns in reinforcing the UAE's global leadership in humanitarian efforts and reflecting the nation's deeply rooted values of compassion and generosity. 'The agreements with Imtiaz Developments, SAMANA Developers and Buimerc Ltd. demonstrate the generous support of philanthropists in the UAE, a hallmark of the UAE's giving spirit. This generosity, evident in past Ramadan campaigns exceeding their goals in record time, confirms that giving is a deeply ingrained cultural value and a key component of the Emirati identity,' Al Gergawi said. The Fathers' Endowment campaign, part of the Mohammed Bin Rashid Al Maktoum Global Initiatives, honours fathers by enabling donations in their name. It upholds the values of respecting parents, compassion, and social solidarity while reinforcing the UAE's leadership in philanthropy through a sustainable healthcare endowment for those in need. The campaign further strengthens the UAE's long-standing commitment to generosity and global humanitarian solidarity while promoting the culture of endowments and encouraging community participation in providing sustainable healthcare support for underprivileged individuals. Donation channels The Fathers' Endowment campaign continues to welcome donations and contributions to the endowment fund from institutions and individuals across six main channels. Donations can be made via the campaign's website, or through the dedicated call centre at 800 4999. Contributions can also be made via bank transfer in UAE dirhams to the campaign's Emirates Islamic Bank account (IBAN: AE020340003518492868201). Donations via SMS are possible by sending the word 'Father' to the following numbers (1034 to donate AED10; 1035 to donate AED50; 1036 to donate AED100; and 1038 to donate AED500) for Etisalat by e& and du users. Donations can also be made through the DubaiNow app under the 'Donations' tab or via Dubai's community contributions platform, Follow Emirates 24|7 on Google News.
Sharjah 24
14-03-2025
- Business
- Sharjah 24
Mohammed bin Rashid attends MBRGI endowment agreements signing
Purpose of the agreements Under the agreements, each developer will construct an endowment building within MBRGI's education complex at Dubai Academic City in support of the Fathers' Endowment campaign, which was launched by His Highness Sheikh Mohammed bin Rashid Al Maktoum. The Fathers' Endowment campaign Coinciding with Ramadan, the Fathers' Endowment campaign was launched in honour of fathers in the UAE. The campaign aims to create a sustainable endowment fund to provide healthcare and treatment for the poor and needy. Endowment building details Mohammad Al Gergawi, Minister of Cabinet Affairs and Secretary General of MBRGI, signed agreements with Masih Imtiaz, CEO of Imtiaz Developments; Imran Farooq, CEO of SAMANA Developers; and Siddharth Balachandran, Executive Chairman and CEO of Buimerc Corporation Ltd. The value of the endowment buildings is AED50 million, AED40 million, and AED20 million, respectively. Impact of the endowment buildings Revenues from the endowment buildings will support the Fathers' Endowment campaign, enhancing healthcare access for those in need. This includes the development of hospitals, provision of medical equipment, and expansion of healthcare capacity. Vision and values behind the campaign Mohammad Al Gergawi emphasizsed that the Fathers' Endowment campaign reflects the vision of HH Sheikh Mohammed bin Rashid Al Maktoum for sustainable giving and his belief in philanthropy as a vital tool for positive change. UAE's commitment to philanthropy Al Gergawi also highlighted the importance of Ramadan campaigns in reinforcing the UAE's global leadership in humanitarian efforts, underscoring the deeply rooted values of compassion and generosity in Emirati culture. Encouraging donations The Fathers' Endowment campaign continues to welcome donations from institutions and individuals through multiple channels, including the campaign's website, SMS, bank transfer, and the DubaiNow app. Donations can be made by sending the word 'Father' to specific SMS numbers for various amounts or via the UAE's community platform,
