Latest news with #Dh2.1
Al Etihad
15-05-2025
- Business
- Al Etihad
TAQA Group reports revenue of Dh14.2 billion for Q1 2025
15 May 2025 15:23 ABU DHABI (WAM)Abu Dhabi National Energy Company (TAQA) has reported its earnings for the three-month period ending March 31, 2025. TAQA delivered a 3.8 percent year-on-year revenue growth, reaching Dh14.2 billion, primarily driven by higher pass-through items in Transmission and Distribution (T&D).While TAQA reported topline growth, EBITDA declined by 6.7 percent to Dh5.3 billion and net income fell by 1.5 percent to Dh2.1 its leading stake in Masdar, TAQA made significant strides in expanding its global renewable portfolio in Q1. Masdar's Saeta Yield platform acquired the 243 MW Valle Solar project in in Spain, Masdar reached an agreement to acquire a 49.99 percent stake in four of Endesa S.A.'s solar assets, totalling 446 MW, pending regulatory Masdar is developing the world's first giga-scale 'round-the-clock' renewable project in Abu Dhabi, combining 5.2 GW of solar capacity with 19 GWh of battery storage to deliver 1 GW of continuous clean April, TAQA and Emirates Water and Electricity Company (EWEC) announced the signing of a major power purchase agreement for the 1 GW Al Dhafra Thermal plant alongside major investments in new grid projects are being developed in parallel to Masdar's 'round-the-clock' initiative and all of them together will play a key role in providing the power needed to advance the UAE's AI Strategy for Al Dhafra Thermal plant will provide efficient, flexible and easily dispatchable capacity and will be fully owned and operated by Transmission will integrate the additional gas and renewables capacity into the grid with state-of-the-art transmission infrastructure that will deliver the energy and stability required for high-performance computing and other advanced digital infrastructure. Combined, these projects will require investment of around Dh36 billion in the coming years.
Al Etihad
05-05-2025
- Business
- Al Etihad
Alpha Dhabi reports Dh17.4 billion revenue in Q1
5 May 2025 12:26 ABU DHABI (WAM) Alpha Dhabi Holding has reported a strong set of financial results for the period ending March 31, 2025, with Adjusted EBITDA 1 climbing to Dh4.4 billion, up 33 percent year-on-year (YoY).Alpha Dhabi's continued momentum in strategy execution across key verticals has been a key driver of the strong performance. Group revenue stood at Dh17.4 billion, a 23% increase YoY, reflecting the depth of Alpha Dhabi's diverse portfolio alongside its consistent track record of profit stood at Dh2.1 billion, down from the same period last year, reflecting changes in the fair market value of some of the group's public listed Group's financial position remains strong, with total assets of Dh185.2 billion and an equity of Dh93.5 billion. Alpha Dhabi is strategically poised to forge further ahead with its growth ambitions, which will include further possibilities for acquisitions and geographical increasing diversity and depth of Alpha Dhabi's portfolio have been a significant driver of its revenue growth and contribution to the increase in net profit from operations. The company's portfolios in real estate (Dh6.4 billion), industrial (Dh6.2 billion), construction (Dh2.7 billion), and services and others (Dh2.1 billion) contributed significantly to total Thani Murshed Ghannam Al Rumaithi, Chairman of Alpha Dhabi Holding, said, 'Alpha Dhabi began 2025 on a strong footing, building on a year of transformation and guided by a clear strategy for future growth. Collectively, we have advanced the business both horizontally and vertically, strategically capturing opportunities with the potential to deliver deep, meaningful growth. Our financial performance for the quarter reflects the pace of this growth, with our success being underpinned by the evolution of a portfolio which spans diverse geographies and future-focused sectors.'Hamad Al Ameri, Managing Director and Group CEO of Alpha Dhabi Holding PJSC, said that the Q1 2025 results demonstrate the power of Alpha Dhabi's investment strategy by focusing on opportunities created by growing economies and populations, technological disruption and sustainable business models. "We remain focused on investments that diversify revenues, create value across the economy, and position Alpha Dhabi for long-term growth,' he added.
The National
14-04-2025
- Automotive
- The National
Abu Dhabi removes 120kph minimum speed limit on Sheikh Mohammed bin Rashid Road
Abu Dhabi on Monday scrapped the 120kph minimum speed limit in place for two years on Sheikh Mohammed bin Rashid Road, a key motorway linking the capital and Dubai. Abu Dhabi Mobility – the emirate's transport authority – said the step was to boost traffic safety and support the movement of heavy vehicles on the E311 route. The minimum speed limit applied to drivers travelling in the first and second lanes from the left and came into effect in April 2023, with a fine of Dh400 ($108) applied from the following month for those flouting the law. The third lane and the last lane for use by heavy vehicles was not subject to the restrictions, police said at the time. The road's maximum speed limit of 140kph remains unchanged. "As part of efforts to enhance traffic safety and facilitate the movement of heavy trucks, the minimum speed limit on Sheikh Mohammed bin Rashid Road (E311) has been removed, contributing to improved road flow and a safer environment for all drivers," Abu Dhabi Mobility said on social media. Abu Dhabi Police said at the time the new traffic law was brought into force it was in an effort to deter drivers from travelling in the first two lanes at slow speeds, and to discourage tailgating. 'The goal of the low-speed activation is to ensure the safety of drivers, to require slow vehicles to move on the right lanes and to always make way for vehicles with preference coming from behind or from the left,' Gen Ahmed Saif Al Muhairi, director of Central Operations Sector at Abu Dhabi Police, said at the time. Drivers travelling slowly – particularly in the far-left lane – can often be subject to aggressive tailgating from faster-moving vehicles approaching from behind. Their behaviour can also force motorists travelling at far higher speeds to take evasive action, such as slowing down suddenly and swiftly switching lanes, which can be dangerous. The Sheikh Mohammed bin Rashid Road, named in honour of the Vice President and Ruler of Dubai, was opened in November 2016. The 62-kilometre motorway, built at a cost of Dh2.1 billion, shares traffic with Sheikh Zayed Road to ease congestion between the two cities. The motorway begins where Sheikh Mohamed bin Zayed Road ends in Seih Shuaib, on the Dubai-Abu Dhabi border, and has a capacity for 8,000 vehicles an hour, with four lanes in each direction. It passes through the green belt at Al Maha Forest, Khalifa Port Industrial Zone and Bida Khalifa. The road intersects with Al Ajban Road and bypasses Shahama, Zayed Military Camp and Al Falah, all the way to the Sweihan Road interchange. It also directly links to Yas Island, Saadiyat Island, Abu Dhabi airport and Al Ain Road. The decision came after authorities announced speed limits would be cut on two Abu Dhabi roads from Monday, April 14. The limit on Sheikh Khalifa bin Zayed International Road – which forms part of the UAE's largest motorway, the E11 – will be cut from 160kph to 140kph. The limit on the Abu Dhabi-Sweihan Road will be lowered from 120kph to 100kph. Police and transport authorities regularly revise speed limits under a broader push to bolster safety and reduce the number of deaths and injuries on the nation's roads. Traffic accidents in the UAE increased by 8 per cent last year, with 4,748 recorded across the country, compared to 4,391 in 2023. The number of deaths recorded was 384, higher than in 2023 and 2022, with about a third victims in their 20s. Thomas Edelmann, founder of Road Safety UAE, said the increasing number of accidents is linked to population growth, more drivers and heavier traffic congestion, especially in Dubai. 'Fuller roads mean more anxious motorists, as stress levels rise in dense traffic and on congested roads,' he said.
Khaleej Times
23-03-2025
- Business
- Khaleej Times
Agthia Group announces CEO transition to lead company's next phase of growth
Agthia Group , one of the region's leading food and beverage companies, announced a leadership transition as part of its next phase of growth and transformation. Effective June 2, 2025, Salmeen Al Ameri will take over as Managing Director and Chief Executive Officer of Agthia. Alan Smith will remain an advisor to the Group to support a seamless leadership transition and Agthia's continued development. Smith will step down as Chief Executive Officer after having stood at its helm since 2020. Under his leadership, the Group navigated a transformative period of growth, diversifying from two to four business segments, executing six strategic acquisitions, and more than doubling its revenue from Dh2.1 billion in 2020 to Dh4.9 billion in 2024. The leadership change occurs as part of Agthia's broader strategic re-alignment, reinforcing its commitment to becoming a leader in the food and beverage sector. With an ambitious strategy for 2030, the Group will continue driving organic growth in core GCC markets and pursuing transformational M&A opportunities in adjacent categories. As a Managing Director & CEO, Al Ameri will focus on accelerating growth across all four segments of the Group while strengthening Agthia's position as a leading global food and beverage company. In addition, he will drive the futureproofing of Agthia's business model through advancements in digital transformation, AI adoption, customer-centricity, and innovation. Having served as Vice Chairman of Agthia Group since May 2020, Al Ameri has played a pivotal role in shaping the Group's long-term vision, including the development of its ambitious 2030 strategy which positions him as the ideal leader to ensure both a seamless transition and the effective execution of Agthia's strategic roadmap. Al Ameri brings to Agthia Group a wealth of experience in driving organic growth and international expansion in the food and agriculture sector, notably with Silal, Abu Dhabi's leading food distribution and food technology company, and Al Dahra, a multinational leader in agribusiness. His deep familiarity with the business, coupled with his direct involvement in Agthia's international expansion, organic growth, and operational efficiency initiatives, ensures a seamless transition and strong continuity in executing the company's strategic roadmap. He will continue to serve as a member of the Board, leveraging his extensive experience to further drive the company's success. Al Ameri also serves as a director on the Board of Lulu Retail, the largest full-line retailer across the GCC region. Khalifa Sultan Al Suwaidi, Chairman of the Board of Directors of Agthia Group, said: 'On behalf of the board, I extend our sincere gratitude to Alan Smith for his exceptional leadership and contributions to Agthia's success over the past five years. He has been instrumental in transforming Agthia into the market leader it is today, and, laying the foundation for its successful strategic re-alignment and long-term commercial success. With Salmeen Al Ameri, we are bringing onboard a highly experienced leader with a proven track record in building resilient, innovation-driven and technology-enabled businesses, who will seamlessly build on Alan's achievements and confidently lead Agthia into its next phase of growth.' Departing CEO of Agthia Group, Alan Smith, added: 'Leading Agthia over the past five years has been a truly rewarding experience, and I am deeply grateful to the Board and the leadership team for their trust and to our incredible colleagues whose dedication and passion have made our achievements possible. Agthia's transformation has been built on the collective effort of a talented team, and I have no doubt that the company's best days are still ahead. With Salmeen at the helm, Agthia is in capable hands, and I am confident he will drive the Group to even greater success. I look forward to supporting him and Agthia's continued journey in my advisory role.' Salmeen Al Ameri, Designated Managing Director & Chief Executive Officer of Agthia Group, said: 'It is a privilege to be entrusted with leading Agthia Group, one of the most reputable food and beverage companies in the region. With its commitment to high-quality products and an unwavering focus on customer-centricity, Agthia is well-positioned for sustained growth and global expansion. I look forward to working closely with our leadership, management, and employees to accelerate this momentum and create lasting value for our customers and shareholders. As we embark on this next chapter, I am committed to ensuring a smooth transition and the continued execution of our strategic roadmap. I will engage closely with all stakeholders to align on key priorities and will provide a comprehensive update on our direction and focus areas as we move forward.'
The National
19-03-2025
- Lifestyle
- The National
My Own Home: Three generations under one roof at Dh2.1 million Damac Hills 2 villa
My Own Home takes you inside a reader-owned property to ask how much they paid, why they decided to buy and what they have done with it since moving in After a decade of living together in Abu Dhabi, Nafisa Patni and her husband, Zeeshan Razzaqi, decided to make the move to Dubai and purchased a property in Damac Hills 2. Mr Razzaqi was raised in the capital, but is now director at workplace solutions company Bisdesk, in Dubai. Ms Patni, a content creator, also runs her own marketing company, so it made sense for them to uproot. Now, they live happily in their Dh2.1 million four-bedroom villa, which they bought off-plan, with their daughter and Mr Razzaqi's father, Mohammad. While they have no intentions of moving just yet, Ms Patni has not ruled it out. The National takes a look around. We have four bedrooms upstairs, and downstairs, there is a hall, a maid's room, a storeroom, a kitchen and a garden. Technically it was pre-Covid, but it was handed over to us after the pandemic. We bought it for Dh2.1 million and I don't know the current value today. The storage capacity in the house is very poor, so we did renovations to add more storage options. We got the garden renovated and did a little bit in the hall for a showcase, but overall we've done very few renovations. It's very, very cosy with a lot of earthy textures and neutral colours – most of it is white. We have a lot of natural plants in the house. We love plants. My garden area is a small, cosy place where we sit during the evenings inside the cabana so we can enjoy the weather. We have a lot of birds coming because we keep bird food everywhere. So, in the morning and evenings they come for the food and water and the sounds of the birds is very therapeutic and really relaxing. My daughter likes to play outdoors and we have tea time, then after dinner we sit and chat. Then indoors is more of a calming place where we have nice, neutral colour palettes and a large collection of vintage items. My husband loves collecting, especially from Asia. We have some things that are more than 500 years old. We were based in Abu Dhabi for more than a decade, then my husband started his own business in Dubai, and so they decided that it's time to shift to Dubai. When we started the business, the intention was not to go back to our hometown, because life in the UAE is definitely worth living. My father-in-law had settled in Abu Dhabi, so my husband's schooling and everything was done in Abu Dhabi. After all that time, they decided to invest in Dubai. This was our first investment, because earlier we were in a rented house in Abu Dhabi. It didn't make sense to keep paying rent when we have an intention to settle here. So we decided Dubai was the best place to invest in, as this place is definitely developing day by day. The ambience. When we looked at the plans, the entire layout and the community set-up was lush and green. Earlier, the name of this community was Akoya Oxygen, which meant lots of fresh air, water and greenery. So that is what my in-laws and my husband love, because it's all natural. The facilities are also amazing and we liked that it was far from the city. It has a nice, calming effect. We knew it was not going to be like a typical community. That it was going to be different. And it is – it gives us those nice, resort-style vibes. Even though it's far from the city, once you enter the community it's a whole different world. We have an amazing pool. There are several playgrounds around the community. Every cluster has their own pool and play area. There is a basketball court, a gym, a cricket pitch and a tennis court. We have outdoor gyms, as exercise equipment is installed everywhere. We have Malibu Bay, which is a huge pool with the lazy river, slides, kids' splash area and cabanas. On weekends we enjoy the lazy river and sitting by the cabanas, reading books or having a nice time with the family. We also have a barbecue section. We even have our own private boating area in the community. It's a man-made lake where we can go boating. There are several supermarkets inside the community. We have a laundry service. Everything in the community is accessible. It's been three years since we moved in to this house, so we have no plans to move out any time soon. If we have something better than this, maybe in future, inshallah, we will see, but for now this is our home and we love it.
