Latest news with #AED54
Trade Arabia
07-03-2025
- Business
- Trade Arabia
DWTC partners with Informa to create global MICE powerhouse
Dubai World Trade Centre and Informa Group have announced a strategic venture to create a truly global powerhouse in Exhibitions and Event Management, operating out of the Middle East - South Asia - Africa regions. This partnership between two commercial equals with highly complementary assets and capabilities drives the creation of a new DWTC-Informa company - Informa International - that will be fully operational by Q4 2025. This new entity headquartered in Dubai, will be servicing super-regional MICE (Meetings, Incentives, Conferences, and Exhibitions) markets, in addition to leveraging their scale to export their home-grown megabrands across the world. The move anchors DWTC's commitment to tripling Dubai's MICE sector GDP contribution to AED54 billion ($14.7 billion) annually by 2033, in line with targets in the D33 Dubai Economic Agenda – attracting investments and enabling cross-border trade through its reputable B2B Events' platforms. Equally, it will focus on cementing Dubai as the global epicentre for business and enterprise – even as the city gains in repute as the world's preferred MICE industry hub. Informa International will include exhibitions, confexes, conferences, professional training and accreditation businesses of both DWTC and Informa in Dubai and connected partner markets, creating a market leader with revenues of over $700 million. The partnership has scope to achieve double digit growth as it expands beyond Dubai and the wider Middle East, across high-growth markets globally. The strategic partnership aims to establish a global MICE powerhouse by integrating DWTC's international events portfolio with Informa Group's UAE-based and partner market events, managing over 40 market-leading brands across high-growth sectors such as Food (Gulfood), ICT (GITEX), Information Security (GISEC), Healthcare (WHX), Energy (Middle East Energy), and Aviation (Dubai Airshow). It also accelerates global expansion by extending DWTC's brands into the fastest-growing B2B event markets, including the Indian Subcontinent, Asia, the Middle East, Europe, and Africa. Helal Saeed Al Marri, Director-General, Dubai World Trade Centre Authority, said: "DWTC has anchored and enabled Dubai's leadership as a preferred global hub for the MICE Sector." "With the city's flagship events like GITEX and Gulfood expanding internationally, and Informa's portfolio of leading shows in complementary sectors across the super-region - this strategic partnership is set to be a transformation engine for cross-border trade and enterprise, co-creating sustainable value for the industries and economies served through the convening power of B2B Events," he stated. DWTC, he said, has built a portfolio of flagship B2B event brands and Informa is the perfect partner with whom to combine strengths and capture the next stage of growth in this high-impact sector.' The key partnership strengthens Dubai's position as a leading global business hub by attracting flagship events from Informa's portfolio of 100+ specialist global brands across various industries, aligning with the city's economic strategy and the expansion of venue infrastructure, including the Dubai Exhibition Centre (DEC) from 2026. Stephen A. Carter, Group Chief Executive, Informa, said: "We already have a great partnership in Dubai with DWTC and today's announcement will further expand our relationship, allowing us to create something quite unique and special together in what is a highly vibrant and fast-growing market." Informa Group, a FTSE-100 company and international market leader in Live B2B Events, B2B Digital Services, and Academic Markets, has operated in the UAE for more than 25 years, focusing on B2B events.
Zawya
30-01-2025
- Automotive
- Zawya
EasyLease revenue surges to $124.1mln in 2024
EasyLease (ADX: EASY LEASE) has announced its audited financial results for FY 2024. The company reported a total revenue of AED456 million, a remarkable 53% year-over-year (YoY) growth, cementing its leadership in the region's fast-evolving mobility sector. These outstanding results highlight Easy Lease's ability to sustain robust financial performance while pursuing its long-term strategic goals. Operational profit surged 71% to AED54 million, reflecting enhanced efficiency and adaptability. EBITDA also rose to AED116 million, showcasing a commitment to delivering sustainable value for stakeholders. Net profit for FY 2024 increased by 18%, underlining the company's resilience and strategic focus on growth. While actively incubating new ventures, Easy Lease remains committed to optimising operational efficiency and profitability. These new investments to create long-term value have laid a solid foundation for sustained growth. Excluding the impact of these strategic initiatives, net profit climbed to AED53 million, compared to AED40 million in FY 2023. The remarkable growth trajectory of Easy Lease in FY 2024 has been driven by a focused strategy to scale through strategic acquisitions and organic business development. The company acquired United Trans, a leading provider of railway and mobility solutions, and Gallega Global Logistics, an expert in supply chain and warehousing services. These acquisitions, combined with the launch of new ventures in vehicle rentals, and roadside assistance, have significantly expanded Easy Lease's service portfolio and asset base, which now stands at AED788 million. Ahmad Al Sadah, CEO of Easy Lease, remarked, '2024 has been a transformative year for Easy Lease. These results highlight not only our strong operational foundation but also our vision to redefine mobility and logistics across the region. By leveraging our core strengths and pursuing strategic diversification, we are positioning Easy Lease for sustainable growth and long-term market leadership.' He further emphasised, 'Through investments in technology, assets, and talent, we are building a resilient business capable of meeting today's demands while shaping the future of mobility and logistics. Our commitment remains focused on delivering long-term value for our shareholders.''
