Latest news with #Dh112
Al Etihad
18-05-2025
- Business
- Al Etihad
Dubai Municipality completes development of Dubai Creek's Deira wharf
18 May 2025 15:26 DUBAI (ALETIHAD)Dubai Municipality has announced the completion of development works on the two-kilometre-long Dubai Creek wharf on the Deira at a total cost of Dh112 million, the project aims to strengthen the quay's infrastructure, improve operational efficiency, and reinforce the historical waterway's commercial and tourism development is part of Dubai Municipality's efforts to preserve the heritage of Dubai Creek, one of the emirate's most important maritime corridors, while supporting Dubai Economic Agenda raising the surface level of the quay and improving retaining wall resilience, the project supports growing trade volumes and ensures safe, efficient docking of included increasing the retaining wall height to 8.3 metres, and equipping the quay with 200 anchors and 500 ship berths. These upgrades enhance maritime navigation safety, and bolster the creek's ability to handle a variety of commercial and tourism-related marine Ahmed bin Ghalita, Director-General of Dubai Municipality, said, "The development of the Dubai Creek wharf on the Deira side is a strategic infrastructure milestone that supports the vision of Dubai's leadership and the objectives of the Dubai Economic Agenda D33. This project reinforces the creek's role as one of the emirate's most vital trade and tourism assets and exemplifies Dubai Municipality's commitment to making Dubai a more pioneering, sustainable, and attractive city."He added, "Comprehensive upgrades were implemented using advanced equipment and flexible plans that ensured uninterrupted marine traffic. Development on the Bur Dubai side is already underway, spanning 2.3 kilometres. Once completed, the works will provide enhanced safety and efficiency for maritime navigation across both sides of the creek." Comprehensive infrastructure and tourism enhancementsTo improve water flow, the creek bed was dredged by 17,500 cubic metres, while 24,000 cubic metres of protective rock were placed to strengthen infrastructure durability. A total of 22,500 cubic metres of concrete and 1,315 precast blocks were used in the project. The quay's rear yard was also equipped with a 1,200-metre rainwater drainage network. In total, the development required more than 620,000 man-hours to total side area of the quay was expanded to 320,000 square feet, comprising cargo handling zones and a new public promenade designed to offer visitors a space for leisure and recreation along the waterfront. Despite rapid development across Dubai, the creek remains an iconic feature of the city's identity and continues to serve as a functional, historical, and touristic Municipality awarded the contract for the project in February 2024.
Hi Dubai
12-03-2025
- Business
- Hi Dubai
UAE's Dh128 Billion FDI Plan to Create Thousands of Jobs Across Key Sectors
The UAE's ambitious plan to attract Dh128 billion in foreign direct investment (FDI) over the next six years is set to generate thousands of jobs across manufacturing, technology, finance, healthcare, logistics, renewable energy, hospitality, and retail. Key Sectors Driving Employment Growth With the National Investment Strategy 2031 approved by the UAE Cabinet, the country aims to more than double its annual FDI inflows from Dh112 billion in 2023 to Dh240 billion by 2031. This expansion will create demand for skilled professionals in high-growth sectors: Technology & IT : AI, cybersecurity, software development, cloud computing, and digital transformation. : AI, cybersecurity, software development, cloud computing, and digital transformation. Manufacturing & Industrial Innovation : Engineers, technicians, supply chain professionals, 3D printing, and automation specialists. : Engineers, technicians, supply chain professionals, 3D printing, and automation specialists. Financial Services & Fintech : Digital banking, wealth management, credit risk analysis, and investment specialists. : Digital banking, wealth management, credit risk analysis, and investment specialists. Logistics & Transport : Skilled workforce for supply chain, warehousing, and operations. : Skilled workforce for supply chain, warehousing, and operations. Renewable Energy & Sustainability: Researchers and engineers in green energy projects. Expanding Job Opportunities Experts emphasize that large-scale infrastructure projects and an expanding digital economy will create direct and indirect job opportunities across industries. Increased investment in manufacturing will boost related sectors like construction and infrastructure, while technology-driven advancements will spur demand for specialized talent. Hamza Dweik, Head of Trading & Pricing at Saxo Bank MENA, stated that rising business activity will drive employment growth across multiple sectors, benefiting both local and global professionals seeking opportunities in the UAE's expanding economy. A Shift Toward a Knowledge-Based Economy Hassan Fawaz, Chairman of GivTrade, highlighted that the UAE's strategy fosters long-term career prospects in emerging industries, reducing reliance on traditional sectors. Meanwhile, Vijay Valecha, Chief Investment Officer at Century Financial, pointed out that increased FDI will encourage entrepreneurship, attracting a skilled workforce and bolstering the UAE's position as a global investment hub. With a focus on economic diversification beyond oil, the UAE's FDI-driven job creation will accelerate the transition toward a resilient, knowledge-based economy, positioning the nation as a leader in global business and innovation. News Source: Khaleej Times
Khaleej Times
10-03-2025
- Business
- Khaleej Times
UAE to increase annual foreign investment inflows to Dh240 billion
The UAE has set an ambitious goal to more than double its annual foreign investment inflows over the next six years. Announced Monday, the National Investment Strategy aims to increase inflows from Dh112 billion in 2023 to Dh240 billion by 2031. This will grow the UAE's total foreign investment stock from Dh800 billion to Dh2.2 trillion over the next few years. 'This strategy will focus on key sectors, including industry, logistics, financial services, renewable energy, and information technology. The UAE continues to develop its economy, expand global markets, attract investments, and create the most business-friendly environment in the world,' Sheikh Mohammed bin Rashid, Vice-President and Prime Minister of the UAE, wrote on X after chairing a UAE Cabinet meeting. The strategy includes multiple initiatives, including financial sector development, one-market, institutional innovation attraction, and 'Invest UAE' programmes. Current investment results peg the total cumulative foreign direct investment at Dh0.8 trillion and annual foreign direct investment inflows at Dh112 billion. The target by 2031 is to increase the share of foreign direct investment in total investments (domestic and foreign) to above 30 per cent, and reach the contribution of foreign direct investment to GDP to 8 per cent. A new policy for combating health risks will establish national response scenarios, enhance preparedness, and develop recovery and control plans for health crises and emergencies. 'Continuous readiness for any health emergency is an essential part of strengthening health security and ensuring the highest quality of life in the UAE,' the UAE Vice-President said. New regulations will ensure better access to life-saving treatments for individuals suffering from conditions that can only be addressed through organ transplants. 'The UAE now has more than 13 licensed transplant centers, with a 30 per cent increase in transplant procedures. Kidney, liver, heart, lung, and pancreas transplants are now being performed in the UAE, and we will continue to develop the healthcare sector to provide world-class medical services for all.' The Cabinet also approved the launch of the National Green Certificates Programme for buildings. Non-compulsory in the first stage of implementation, the classification system is aimed at assessing and certifying sustainable buildings. It targets commercial buildings, hotels and hospitality facilities, industrial establishments, government buildings, and houses, communities , and compounds.
