Latest news with #AED4.5
TECHx
20-05-2025
- Business
- TECHx
Dubai to Launch PropTech Hub to Boost AED4.5B Market
Home » Latest news » Dubai to Launch PropTech Hub to Boost AED4.5B Market His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum has announced the launch of The Dubai PropTech Hub. Sheikh Hamdan, Crown Prince of Dubai and Chairman of the Higher Committee for Future Technology and Digital Economy, chaired the committee's latest meeting and issued the directive. The Hub aims to accelerate the growth of the PropTech market, with a goal to more than double its value to over AED4.5 billion in five years. This move aligns with the Dubai Economic Agenda D33 and the Dubai Real Estate Sector Strategy 2033. It was revealed that the Hub will foster real estate innovation and position Dubai as a global PropTech leader. The new initiative also supports the emirate's digital transformation efforts across key sectors. Sheikh Hamdan reviewed the committee's business report during the meeting. The report assessed previous achievements, tracked progress on current initiatives, and explored new proposals to boost digital enterprise development. Sheikh Hamdan stated that Dubai, under the leadership of His Highness Sheikh Mohammed bin Rashid Al Maktoum, has become a hub for high-value investments and global talent. He noted that the real estate sector reflects this progress, supported by a balance between sustainability and digital transformation. He described the Hub as a strategic step toward accelerating innovation in one of Dubai's most vital economic sectors. The goal is to provide a nurturing environment for entrepreneurs and startups to turn innovative ideas into viable businesses. The Hub is expected to attract over AED1 billion in investments by 2030 It aims to support more than 200 PropTech companies and attract 20 investment funds Officials reported that Dubai's PropTech market was valued at AED2.2 billion in 2023. The new Hub will adopt cutting-edge digital tools to drive this figure higher, enhancing the sector's contribution to Dubai's economy. The ecosystem will include: State-of-the-art incubators and co-working spaces Smart outdoor areas and infrastructure for AI-powered model testing Sheikh Hamdan also reviewed the progress of major initiatives such as the '5,000 Digital Talents' program, which connects students with global tech companies. Other key updates included: Results from Expand North Star, the world's largest startup-investor event Developments around the IGNITE platform, designed to connect startups with investors, mentors, and government support The meeting was attended by top government and industry leaders, including His Excellency Omar bin Sultan Al Olama and members from Dubai Municipality, DIFC, Dubai Future Foundation, and TECOM Group. With this launch, Dubai reinforces its vision to lead in digital innovation and real estate technology on the global stage.
Hi Dubai
20-05-2025
- Business
- Hi Dubai
Hamdan bin Mohammed Launches Dubai PropTech Hub to Boost Digital Real Estate Innovation
H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum has launched the Dubai PropTech Hub to accelerate innovation in the emirate's real estate sector, aiming to more than double the market's value to over AED4.5 billion within five years. The announcement came as Sheikh Hamdan, Crown Prince of Dubai and Chairman of the Higher Committee for Future Technology and Digital Economy, chaired a meeting of the Committee. The initiative supports the Dubai Economic Agenda D33 and the Dubai Real Estate Sector Strategy 2033, both focused on positioning Dubai among the world's top three cities for business and innovation. Sheikh Hamdan said the Hub is a strategic step in integrating digital transformation across key sectors, describing it as essential to future-proofing Dubai's economy. The PropTech Hub will provide a supportive ecosystem for startups, offering access to smart infrastructure, AI-driven tools, and investment opportunities. The initiative targets over AED1 billion in investments by 2030, supporting more than 200 PropTech companies and attracting 20 investment funds. It reflects Dubai's broader push to build a fully integrated digital economy driven by advanced infrastructure, a flexible legal framework, and strong support for entrepreneurs. During the meeting, the Committee also reviewed progress on digital initiatives including the '5,000 Digital Talents' programme, the IGNITE platform for startups and investors, and preparations for the next edition of Expand North Star, the world's largest startup event. Senior officials including Omar bin Sultan Al Olama, Minister of State for Artificial Intelligence and Vice Chairman of the Committee, attended the meeting alongside representatives from key government and economic bodies. News Source: Emirates News Agency
Arabian Business
26-03-2025
- Business
- Arabian Business
AB Majlis podcast: A deep dive into Arabian Business' Dubai 100 power list – All you need to know
Dubai's most influential figures have been revealed in the highly anticipated 2025 edition of the Dubai 100 power list, with Mohamed Alabbar, founder and managing director of Emaar Properties and claiming the top spot. In a special episode of AB Majlis, Arabian Business' s Chief Reporter Tala Michel Issa and Reporter Nicole Abigael provided exclusive insights into the reimagined ranking system and the diverse leaders shaping Dubai's future. A new approach to measuring influence This year's Dubai 100 represents a significant departure from traditional power lists that focus primarily on wealth or titles. Arabian Business has introduced a sophisticated nine-parameter ranking system that evaluates individuals across multiple dimensions, including economic contribution, governance, environmental impact, and digital presence. View this post on Instagram A post shared by Arabian Business (@arabianbusiness) 'We wanted to create something more robust than traditional power lists that often focus solely on wealth or title,' Issa explained during the podcast. 'Our new nine-parameter ranking system evaluates individuals across multiple dimensions, from economic contribution and governance to environmental impact and digital presence.' 'We're assessing impact, influence, cultural significance, really looking at who's truly shaping Dubai's trajectory as it continues its remarkable ascent as a global powerhouse,' said Abigael. The comprehensive methodology weighs various factors differently, with inspiration carrying the highest weight at 20 per cent, followed by legacy and economic contribution at 15 per cent each. Cultural impact, community engagement, entrepreneurial achievement, and social media presence each contribute 10 per cent, while environmental impact and innovation round out the framework at 5 per cent each. This approach has resulted in greater diversity across industry representation, nationality, and gender, reflecting Dubai's evolution as a global city where power isn't just about money or position anymore. The Dubai 100's top 5 influential leaders The top five positions on the list showcase different facets of Dubai's development. Mohamed Alabbar (Emaar Properties, – His influence spans from building Dubai's skyline with the Burj Khalifa and Dubai Mall to challenging Amazon's digital dominance in the region with Abdul Aziz Al Ghurair (Mashreq Bank, Al Ghurair Investment) – Under his leadership, Mashreq Bank posted a record AED8.6 billion profit in 2023, representing a 130 per cent year-on-year increase. Beyond finance, he also serves as chairman of Dubai Chambers. Dr. Shamsheer Vayalil (Burjeel Holdings) – He has transformed healthcare across the region and positioned the UAE as a medical tourism destination. Burjeel Holdings saw a 16 per cent increase in revenue to around AED4.5 billion last year. Abdullah Al Futtaim (Al-Futtaim Group) – He has led the group's expansion across automotive, retail, real estate and financial services, while making significant investments in EV infrastructure across the UAE. Badr Jafar (Crescent Enterprises, Pearl Initiative) – Operating at the intersection of business, policy, and purpose, he oversees a $15 billion-plus conglomerate while driving real-world impact through the Pearl Initiative and serving as the UAE envoy for business and philanthropy. Featured women in Dubai 100 Notably, the list features a significant increase in female representation, starting with Huda Kattan of Huda Beauty at number six. With over 50 million Instagram followers and recognition as one of America's richest self-made women, Kattan has redefined influencer-led commerce while championing inclusivity and women's entrepreneurship. 'That's another important shift,' Issa noted during the podcast. 'Beyond Huda Kattan at number six, we have impressive leaders like Dr. Mariam Matar, who launched the UAE Genetic Diseases Association and transformed genetics from a niche science into a cornerstone of UAE healthcare policy.' Other prominent women on the list include Renuka Jagtiani, who leads the $9 billion Landmark Group retail empire spanning over 2,200 stores in 21 countries, and Hana Al Rostamani, who shattered the banking sector's glass ceiling as the first woman to lead a UAE-based bank when she became Group CEO of First Abu Dhabi Bank. Emerging trends reshape what influence truly means in Dubai The podcast hosts identified three major trends in this year's rankings. The rise of cultural operators – Individuals like Anas Bukhash, whose ABtalks platform has clocked over 300 million views, and Abdelmonem Bin Eisa Alserkal, who transformed a stretch of warehouses in Al Quoz into the beating heart of Dubai's contemporary art scene. Sustainability champions – Leaders like Habiba Al Mar'ashi, co-founder and chairperson of Emirates Environmental Group, have transformed environmental action from a niche concern into a mainstream priority, especially following COP28. Digital disruptors – Innovators like Haider Ali Khan of Bayut and dubizzle, who revolutionized property transactions in the Middle East, and Mudassir Sheikha and Magnus Olsen of Careem, who created the region's first unicorn startup. What this tells us about Dubai's future As the hosts discussed, the Dubai 100 reflects how influence is evolving from pure commercial success to multi-dimensional impact. The highest-ranked leaders aren't just building businesses—they're shaping entire ecosystems, influencing policy, and driving cultural change. 'I think we've covered a lot of ground today, from the titans of the industry who build Dubai's physical infrastructure to cultural innovators, tech disruptors reshaping its future as well,' Abigael explained. 'The Dubai 100 is not just a snapshot of who matters today,' Issa observed. 'It's actually a window into the future of the city itself. The individuals who make the list are those who understand where Dubai is headed and are helping to steer its course.' The list also points to the increasing importance of 'bridge builders'—people connecting Dubai to global networks—and those driving sustainability and innovation in line with Dubai's ambitious net-zero 2050 strategy. 'I think this diversity reflects Dubai's own evolution into a truly global city, one that values innovation, sustainability and cultural richness alongside economic growth,' Abigael added.
Zawya
12-03-2025
- Business
- Zawya
Borouge dividend yield hits 6.7%, offering big investor returns
Borouge's financial results for 2024 underline the company's resilience and profitability, with net earnings of AED4.5 billion ($1.24 billion), marking a 24% year-on-year increase. The company also reported an industry-leading ebitda margin of 41%, further cementing its reputation as one of the most efficient and profitable players in the petrochemicals sector. Shareholders of Borouge are expected to approve an AED2.4 billion ($650 million) cash dividend for the second half of 2024 at the company's upcoming Annual General Meeting (AGM) on April 7. This final payment will bring Borouge's total dividends for the year to AED4.8 billion ($1.3 billion), reinforcing its position as an attractive investment opportunity in the region. Investors seeking eligibility for the final dividend must hold Borouge shares by April 15, with payments set for distribution on April 28. Borouge CEO Hazeem Sultan Al Suwaidi said: "This is an exciting time for Borouge shareholders, as the company continues to deliver strong dividends, underscoring our commitment to driving value for our shareholders." "With a solid business model and continuous innovation, Borouge remains a strong contender for investors looking for value opportunities," he stated. Beyond its strong dividend profile, Borouge's growth trajectory is poised to accelerate following the recently announced merger of Borouge and OMV's Borealis to create Borouge Group International and the acquisition of Nova OVA Chemicals. This consolidation will create the world's fourth-largest polyolefins company, valued at AED220+ billion ($60 billion), significantly enhancing Borouge's global profile. The newly formed Borouge Group International is expected to benefit from a higher dividend payout, expanded market access, advanced technological capabilities, and complementary product lines. With commercial and manufacturing operations spanning North America, Europe, Asia, the Middle East, and Africa, Borouge Group International presence in the global petrochemicals industry is set to strengthen, offering further opportunities for growth and value creation. Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
Trade Arabia
11-03-2025
- Business
- Trade Arabia
Borouge dividend yield hits 6.7pc, offering big investor returns
Borouge's financial results for 2024 underline the company's resilience and profitability, with net earnings of AED4.5 billion ($1.24 billion), marking a 24% year-on-year increase. The company also reported an industry-leading ebitda margin of 41%, further cementing its reputation as one of the most efficient and profitable players in the petrochemicals sector. Shareholders of Borouge are expected to approve an AED2.4 billion ($650 million) cash dividend for the second half of 2024 at the company's upcoming Annual General Meeting (AGM) on April 7. This final payment will bring Borouge's total dividends for the year to AED4.8 billion ($1.3 billion), reinforcing its position as an attractive investment opportunity in the region. Investors seeking eligibility for the final dividend must hold Borouge shares by April 15, with payments set for distribution on April 28. Borouge CEO Hazeem Sultan Al Suwaidi said: "This is an exciting time for Borouge shareholders, as the company continues to deliver strong dividends, underscoring our commitment to driving value for our shareholders." "With a solid business model and continuous innovation, Borouge remains a strong contender for investors looking for value opportunities," he stated. Beyond its strong dividend profile, Borouge's growth trajectory is poised to accelerate following the recently announced merger of Borouge and OMV's Borealis to create Borouge Group International and the acquisition of Nova OVA Chemicals. This consolidation will create the world's fourth-largest polyolefins company, valued at AED220+ billion ($60 billion), significantly enhancing Borouge's global profile. The newly formed Borouge Group International is expected to benefit from a higher dividend payout, expanded market access, advanced technological capabilities, and complementary product lines. With commercial and manufacturing operations spanning North America, Europe, Asia, the Middle East, and Africa, Borouge Group International presence in the global petrochemicals industry is set to strengthen, offering further opportunities for growth and value creation.
