Latest news with #AED8.5
Hi Dubai
05-05-2025
- Business
- Hi Dubai
UAE Exhibitions Sector Drives Record Economic Impact and Global Recognition
The UAE's exhibitions and conferences sector surged in 2024, generating billions in economic output and cementing its status as a global hub for business tourism and mega-events. Backed by world-class infrastructure and a strategic national vision, the industry is now a key driver of the country's diversified, knowledge-based economy. Leading the charge, the ADNEC Group contributed AED8.5 billion to the UAE's GDP in 2024, up from AED7.4 billion in 2023. Its venues, including Abu Dhabi National Exhibition Centre and Excel London, hosted over 1,000 events and welcomed a record-breaking 5.4 million visitors. ADNEC's Capital Events arm generated AED10 billion in business deals, while Capital Hospitality served over 40 million meals and managed 2,200 events. The Dubai World Trade Centre also recorded a banner year, hosting 100 major events—a 32% annual increase—that brought in more than 2 million attendees. The total economic output reached AED22.35 billion, with AED13.04 billion contributing directly to Dubai's GDP. International attendance soared, with 936,000 global visitors reinforcing Dubai's position as a premier destination for business events. Sharjah's Expo Centre added to the momentum, organising 80 major exhibitions—a 60% rise from the previous year—across its venues in Sharjah, Khor Fakkan, and Al Dhaid. These drew nearly 3 million visitors and spotlighted sectors including smart transport, healthcare, and trade. As Dubai rolls out the first phase of DWTC's expansion, due in 2026, and with a packed calendar of specialised events across the Emirates, the UAE's exhibitions industry continues to grow in scale and influence—advancing its role in shaping the region's economic future. News Source: Emirates News Agency
Zawya
14-04-2025
- Business
- Zawya
$19bln foreign trades on ADX in Q1; net investments surge 151%
ABU DHABI: Abu Dhabi Securities Exchange (ADX) posted strong performance in the first quarter of 2025 compared to the same period in 2024, driven by significant increases in liquidity and investment activity, particularly from foreign and institutional investors. According to ADX data, the value of foreign investor trades (buy and sell) rose by approximately 62.2 percent to around AED69.79 billion in Q1 2025, up from AED43.03 billion in Q1 2024. Foreign net investment recorded a substantial growth of 151 percent, increasing from about AED3.4 billion to over AED8.5 billion, reflecting growing confidence of international investors in the UAE market. The contribution of foreign investors to total trading value grew to 42 percent in Q1 2025, up from 31 percent in the same period of 2024, marking an 11-percentage-point increase. The market capitalisation rose by approximately 3.2 percent to exceed AED2.93 trillion at the end of Q1 2025, compared to AED2.84 trillion at the end of Q1 2024. Exchange-Traded Funds (ETFs) witnessed a notable increase, with market value rising by 109 percent to approximately AED1.64 billion, compared to AED784.4 million, highlighting growing investor interest in this asset class. In terms of liquidity, the total trading value grew by nearly 21 percent to AED83.3 billion in Q1 2025, compared to AED68.95 billion in Q1 2024. The traded volume rose by 39 percent to over 22.45 billion shares from 16.11 billion shares, while the number of executed trades increased by around 41 percent to reach 1.35 million, up from 961,800 trades in the same comparison period. Institutional investors also recorded a 22 percent increase in trading value (buy and sell), reaching over AED134.9 billion in Q1 2025, compared to around AED110.6 billion in the same period last year.
Arabian Business
17-03-2025
- Business
- Arabian Business
ADNEC Group boosts UAE economy with a record AED8.5bn in 2024
ADNEC Group said it contributed AED8.5 billion ($2.31 billion) to the UAE economy in 2024, surpassing its AED7.4 billion contribution in the previous year. The year also saw ADNEC Group successfully acquiring Royal Catering and the Business Design Centre in London, expanding its portfolio of venues to four and strengthening its market presence. . @ADNECGroup, a Modon Company, contributed AED8.5 billion to the UAE economy in 2024, its highest economic impact to date, surpassing the AED7.4 billion achieved in 2023, reinforcing its position as a global leader in the events, hospitality, media and tourism industries. — مكتب أبوظبي الإعلامي (@ADMediaOffice) March 14, 2025 These achievements underscore the Group's commitment to fostering talent and delivering exceptional results across its key business segments, the company said. ADNEC Group's economic impact '2024 has been a landmark year for ADNEC Group, marked by exceptional achievements across all sectors of our business,' said Humaid Matar Al Dhaheri, Managing Director and Group CEO of ADNEC Group. 'The 2024 results also reflect ADNEC's unwavering dedication to delivering significant value to our key shareholders and partners in both the government and private sectors,' he said. ADNEC said its venues, including ADNEC Centre Abu Dhabi, ADNEC Centre Al Ain and ExCeL London, hosted more than 1,000 events in 2024, welcoming over 5.4 million visitors, the highest number in its history. ADNEC Centre Abu Dhabi hosted the largest and most successful editions of flagship events such as the Abu Dhabi International Boat Show (ADIBS), Global Food Week, and Abu Dhabi International Hunting and Equestrian Exhibition (ADIHEX). Capital Events, the event organising arm of ADNEC Group, facilitated more than AED10 billion in deals at eight of its events, further solidifying its reputation as a leader in event management. ADNEC Hotels welcomed a record-breaking 1.53 million guests, while Capital Catering, the group's food & beverage cluster, delivered 40 million meals across 45 locations and catered for 2,200 weddings and events, including the largest corporate Iftar at ADNEC Centre Abu Dhabi for 8,000 guests, the Group said. The Group said it remains committed to advancing Abu Dhabi's vision for economic diversification and sustainable development in 2025 as well by pursuing new business opportunities across its core sectors.
Zawya
17-03-2025
- Business
- Zawya
Adnec Group adds record $2.3bln to UAE economy in 2024
Adnec Group, a company which owns and operates the region's largest expo venue - Adnec Centre Abu Dhabi - has announced that it has delivered the highest economic impact in its history, contributing AED8.5 billion ($2.3 billion) to the UAE economy. This even surpassed the previous year's figure of AED7.4 billion, thus highlighting the group's growing role in driving economic growth and supporting the UAE's strategic objective of building a diversified, knowledge-based economy, said Adnec Group in a statement. The year also saw Adnec Group successfully acquire Royal Catering and the Business Design Centre in London, UK, expanding its portfolio of venues to four and strengthening its market presence. These achievements underscore Adnec Group's commitment to fostering talent and delivering exceptional results across its key business segments, it stated. Managing Director and Group CEO Humaid Matar Al Dhaheri said: "2024 has been a landmark year for Adnec Group, marked by exceptional achievements across all sectors of our business. These milestones are a direct result of the sustained support of our wise leadership, whose guidance enables us to continue contributing to Abu Dhabi's economic growth and global prominence." "Sustainability remained a key focus, with Adnec winning the Sheikh Hamdan Environmental Award," he stated. The Adnec Centre Abu Dhabi also became the first Mice venue in the Middle East to be powered by clean energy from the Emirates Water and Electricity Company (EWEC), setting a new standard for environmental leadership in the region. The launch of TerraTile, an innovative sustainable flooring product made from exhibition waste, demonstrated the group's dedication to advancing sustainability in the events industry, it added. Adnec Group's venues including Adnec Centre Abu Dhabi, Adnec Centre Al Ain and ExCeL London hosted more than 1,000 events in 2024, welcoming over 5.4 million visitors, the highest number in its history. Among the year's highlights were the completion of the ExCeL London expansion, which saw the venue reach 270,000 sq m. Adnec Centre Abu Dhabi hosted the largest and most successful editions of flagship events such as the Abu Dhabi International Boat Show (ADIBS), Global Food Week, and Abu Dhabi International Hunting and Equestrian Exhibition (ADIHEX). Capital Events, the event organising arm of Adnec Group, facilitated more than AED10 billion in deals at eight of its events, further solidifying its reputation as a leader in event management. Adnec Hotels welcomed a record-breaking 1,531,000 guests, while Capital Catering, the group's Food & Beverage cluster, delivered 40 million meals across 45 locations and catered for 2,200 weddings and events, including the largest corporate Iftar at Adnec Centre Abu Dhabi for 8,000 guests, said the statement. Capital 360 Event Experiences achieved its most successful year, driven by regional expansion and key project wins, including ventures in Saudi Arabia and Qatar. Tourism 365, the tourism arm of Adnec Group, managed 350,000 travellers, generating 250,000 room nights, the highest performance since its establishment. Twofour54, an Adnec Group company, expanded its offerings with the launch of two TV studios at Yas Creative Hub. "Our 2024 results also reflect Adnec's unwavering dedication to delivering significant value to our key shareholders and partners in both the government and private sectors, as well as the hard work and commitment of our team to innovation, sustainability and excellence," he stated. "As we look to the future, we remain focused on driving positive impact locally and globally, in alignment with the UAE's vision for economic diversification and sustainable development," he added.- TradeArabia News Service Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
Trade Arabia
16-03-2025
- Business
- Trade Arabia
Adnec Group adds record $2.3bn to UAE economy in 2024
Adnec Group, a company which owns and operates the region's largest expo venue - Adnec Centre Abu Dhabi - has announced that it has delivered the highest economic impact in its history, contributing AED8.5 billion ($2.3 billion) to the UAE economy. This even surpassed the previous year's figure of AED7.4 billion, thus highlighting the group's growing role in driving economic growth and supporting the UAE's strategic objective of building a diversified, knowledge-based economy, said Adnec Group in a statement. The year also saw Adnec Group successfully acquire Royal Catering and the Business Design Centre in London, UK, expanding its portfolio of venues to four and strengthening its market presence. These achievements underscore Adnec Group's commitment to fostering talent and delivering exceptional results across its key business segments, it stated. Managing Director and Group CEO Humaid Matar Al Dhaheri said: "2024 has been a landmark year for Adnec Group, marked by exceptional achievements across all sectors of our business. These milestones are a direct result of the sustained support of our wise leadership, whose guidance enables us to continue contributing to Abu Dhabi's economic growth and global prominence." "Sustainability remained a key focus, with Adnec winning the Sheikh Hamdan Environmental Award," he stated. The Adnec Centre Abu Dhabi also became the first Mice venue in the Middle East to be powered by clean energy from the Emirates Water and Electricity Company (EWEC), setting a new standard for environmental leadership in the region. The launch of TerraTile, an innovative sustainable flooring product made from exhibition waste, demonstrated the group's dedication to advancing sustainability in the events industry, it added. Adnec Group's venues including Adnec Centre Abu Dhabi, Adnec Centre Al Ain and ExCeL London hosted more than 1,000 events in 2024, welcoming over 5.4 million visitors, the highest number in its history. Among the year's highlights were the completion of the ExCeL London expansion, which saw the venue reach 270,000 sq m. Adnec Centre Abu Dhabi hosted the largest and most successful editions of flagship events such as the Abu Dhabi International Boat Show (ADIBS), Global Food Week, and Abu Dhabi International Hunting and Equestrian Exhibition (ADIHEX). Capital Events, the event organising arm of Adnec Group, facilitated more than AED10 billion in deals at eight of its events, further solidifying its reputation as a leader in event management. Adnec Hotels welcomed a record-breaking 1,531,000 guests, while Capital Catering, the group's Food & Beverage cluster, delivered 40 million meals across 45 locations and catered for 2,200 weddings and events, including the largest corporate Iftar at Adnec Centre Abu Dhabi for 8,000 guests, said the statement. Capital 360 Event Experiences achieved its most successful year, driven by regional expansion and key project wins, including ventures in Saudi Arabia and Qatar. Tourism 365, the tourism arm of Adnec Group, managed 350,000 travellers, generating 250,000 room nights, the highest performance since its establishment. Twofour54, an Adnec Group company, expanded its offerings with the launch of two TV studios at Yas Creative Hub. "Our 2024 results also reflect Adnec's unwavering dedication to delivering significant value to our key shareholders and partners in both the government and private sectors, as well as the hard work and commitment of our team to innovation, sustainability and excellence," he stated.
