Latest news with #AED33
Hi Dubai
28-05-2025
- Business
- Hi Dubai
Himatrix Group Opens AED33 Million Research and Training Centre in Dubai Industrial City
Himatrix Group has officially opened phase one of its AED33 million application laboratory, research, and training centre at Dubai Industrial City, marking a major milestone in the company's regional and global expansion plans. Spanning 45,000 square feet, the new facility is strategically positioned to tap into Dubai Industrial City's proximity to key logistics hubs, including Jebel Ali Port, Al Maktoum International Airport, and the upcoming Etihad Rail freight terminal. The centre will serve as a base for Himatrix Group's 100-strong workforce and support its recruitment of additional specialists to drive innovation across its operations. Himatrix Group, which includes subsidiaries such as Himatrix Measurements Equipment's and Icpro Technologies, aims to use the new hub to strengthen partnerships with global leaders in instrumentation engineering. These include Radwag, Sciex, Ametek, Kruss, and Wipotec. Nadeer Ali, Founder and Managing Director of Himatrix Group, said the facility will enhance service quality across multiple industries, particularly pharmaceuticals, by offering advanced solutions in metrology, analytical science, and physical testing. Dubai Industrial City officials welcomed the investment, highlighting its alignment with national strategies like Operation 300bn and the Dubai Economic Agenda 'D33'. Saud Abu Alshawareb, speaking on behalf of the district, said the facility showcases confidence in Dubai's industrial ecosystem and reinforces efforts to expand the UAE's manufacturing capabilities. Established in 2004, Dubai Industrial City is home to more than 800 companies and over 300 operational factories. It is one of 10 business districts under TECOM Group PJSC, supporting key sectors across the UAE's economic landscape. News Source: Emirates News Agency
Arabian Post
06-05-2025
- Business
- Arabian Post
Dubai Billionaire Sentenced in Major Financial Crime Case
Dubai's Fourth Criminal Court has sentenced Balvinder Singh Sahni, a prominent businessman known as 'Abu Sabah,' to prison for orchestrating a complex money laundering operation involving shell companies and fraudulent financial transactions. The court found Sahni guilty of defrauding UAE banks of approximately AED100 million, marking one of the most significant financial crime convictions in the emirate. Sahni, renowned for his extravagant lifestyle—including the purchase of a license plate for AED33 million—was arrested alongside several associates, including his eldest son and senior managers from his business ventures. The investigation revealed that Sahni and his network established multiple shell companies to facilitate the laundering of illicit funds, disguising them as legitimate business transactions. The court's ruling underscores Dubai's intensified efforts to combat financial crimes. Authorities have been cracking down on money laundering activities, with the Dubai Public Prosecution and the Dubai Economic Security Centre leading operations against international networks. These efforts have resulted in the disruption of schemes involving the illegal transfer of funds and cryptocurrencies, amounting to hundreds of millions of dirhams. In one notable case, authorities dismantled two major money laundering operations totaling AED641 million. The first involved an Emirati national, 21 British nationals, two Americans, a Czech national, and two companies owned by the Emirati. They were charged with possessing illicit funds of AED461 million and using forged documents to smuggle funds from the UK to the UAE. The second operation targeted a cryptocurrency-based scheme worth AED180 million, orchestrated by two Indian nationals and one British national, laundering proceeds from criminal activities through unlicensed intermediaries. Dubai's commitment to financial integrity has been further demonstrated by the establishment of a specialised court focused on combating money laundering within the Court of First Instance and Court of Appeal. This move aligns with the UAE's National AML/CFT Strategy and National Action Plan, aiming to strengthen the integrity of the financial system and reinforce the rule of law.
Arabian Business
25-04-2025
- Business
- Arabian Business
Indian biotech firm Ayu Life Sciences to build $9mn Dubai facility for artificial skin
Ayu Life Sciences, an India-based medical devices and cell therapy company, announced plans to establish a new AED33 million ($9 million) advanced manufacturing facility at Jebel Ali Free Zone (Jafza). The new facility is billed as the first of its kind in the region. The 13,500 square metre facility will focus on the production of next-generation wound care solutions and surgical treatments, designed to meet the growing global demand for high-quality, sustainable healthcare products. India's Ayu expands globally Dr. Rajan Datt, Managing Director of Ayu Life Sciences, said the company is excited to announce the new facility in Jafza, marking a major milestone for it. 'We look forward to breaking ground on this new facility and extending the reach of our flagship products like Velgraft, Velvert, and VelNez to more patients in the Middle East and around the globe,' he said. Abdulla Al Hashmi, Chief Operating Officer Parks & Zones, DP World GCC, said Jafza's manufacturing infrastructure and strategic connectivity make it the ideal launchpad for innovators like Ayu Life Sciences. 'This facility reinforces Dubai's growing role as a global hub for the healthcare and advanced medical manufacturing sectors,' he said. The launch comes amid a surge in demand for artificial skin, with the market projected to grow from $3.1 billion in 2024 to $5.3 billion by 2032. The facility will be developed in two phases, with Phase 1 set to go live by late-2025, and full completion by 2027. It will produce Ayu Life Sciences' flagship products, including Velgraft, an artificial skin substitute designed for scar-free healing and tissue regeneration, Velvert, a natural antimicrobial wound care dressing formulated to accelerate healing and prevent infections, and VelNez, a nasal and ear dressing that enhances patient comfort and post-surgical recovery. These solutions are backed by a portfolio of 22 global patents and developed using eco-friendly materials and natural components to minimise environmental impact. The company currently exports from its Delhi facility to over 20 markets across North America, Europe, Asia, Australia, Africa, and the Middle East. In addition to advanced wound care, Ayu Life Sciences is progressing in the field of regenerative medicine. Clinical trials are underway for a novel therapy using cells similar to those in the pancreas to regulate blood sugar for patients with Type 1 diabetes, and for Velnerve, a solution for peripheral nerve injuries. With Jafza already home to over 800 manufacturing companies from 75 countries, Ayu Life Sciences joins a thriving ecosystem of global innovators.
Trade Arabia
24-04-2025
- Business
- Trade Arabia
Ayu Life Sciences to set up $9m facility in Jafza
Ayu Life Sciences, a medical devices and cell therapy company, has announced plans to establish a new AED33 million ($9 million) advanced manufacturing facility at Jebel Ali Free Zone (Jafza), the first of its kind in the region. The 13,500-sq-m facility will focus on the production of next-generation wound care solutions and surgical treatments, designed to meet the growing global demand for high-quality, sustainable healthcare products. The launch comes amid a surge in demand for artificial skin, with the market projected to grow from $3.1 billion in 2024 to $5.3 billion by 2032. The facility will be developed in two phases, with Phase 1 set to go live by late-2025, and full completion by 2027. It will produce Ayu Life Sciences' flagship products, including Velgraft, an artificial skin substitute designed for scar-free healing and tissue regeneration; Velvert, a natural antimicrobial wound care dressing formulated to accelerate healing and prevent infections; and VelNez, a nasal and ear dressing that enhances patient comfort and post-surgical recovery. These solutions are backed by a portfolio of 22 global patents and developed using eco-friendly materials and natural components to minimise environmental impact. The company currently exports from its Delhi facility to over 20 markets across North America, Europe, Asia, Australia, Africa, and the Middle East, many with highly regulated healthcare markets. In addition to advanced wound care, Ayu Life Sciences is progressing in the field of regenerative medicine. Clinical trials are underway for a novel therapy using cells similar to those in the pancreas to regulate blood sugar for patients with Type 1 diabetes. Another trial is for Velnerve, a solution for peripheral nerve injuries. Dr Rajan Datt, Managing Director of Ayu Life Sciences, said: 'We're excited to announce our new facility in Jafza, marking a major milestone for Ayu Life Sciences. Our commitment to proprietary research and development enables us to consistently deliver excellent wound care products so we can continually push the boundaries of patient care. We look forward to breaking ground on this new facility and extending the reach of our flagship products like Velgraft, Velvert, and VelNez to more patients in the Middle East and around the globe.' Abdulla Al Hashmi, Chief Operating Officer Parks & Zones, DP World GCC, added: 'Jafza's manufacturing infrastructure and strategic connectivity make it the ideal launchpad for innovators like Ayu Life Sciences. This facility reinforces Dubai's growing role as a global hub for the healthcare and advanced medical manufacturing sectors. As we continue to grow, we remain committed to supporting cutting-edge industries that drive economic growth and improve lives.' -
