Latest news with #Dh3
Al Etihad
a day ago
- Business
- Al Etihad
Abu Dhabi office market surges as economic growth boosts business confidence
31 July 2025 00:53 MAYS IBRAHIM (ABU DHABI)Abu Dhabi's office market continued its upward trajectory in Q2 2025, as demand for Grade A spaces outpaced supply, according to Savills' latest market report released on research ties this growth to the UAE's capital's sustained economic momentum, particularly in the non-oil sector which expanded by 6.1% year- on-year in Q1 2025, now accounting for over 56% of the emirate's total GDP.'This positive economic trajectory is boosting business confidence, fuelling strong leasing activity, and increasing demand for high-quality office space,' the report Dhabi Global Market (ADGM), one of the most desired locations due to its free zone status, experienced a 30% year-on-year rise in rental values, now ranging from Dh2,800 to Dh3,500 per square metre per Q1 2025, ADGM completed its jurisdictional expansion to Al Reem Island, adding approximately 500,000 sq.m of office to the report, ADMG saw the total number of operational firms reach 2,781 - a 43% increase compared to Q1 2024. Notably, financial services entities alone grew by 26% year on year, totalling report said this expansion has heightened occupier activity in both Al Reem and Al Maryah islands. The workforce on Al Maryah Island, for example, has increased by 17% year on year, now exceeding 29,000.'Demand in H1 2025 was largely driven by banking, financial services, and insurance (BFSI) institutions, hedge funds, consulting firms, and technology companies,' the report stated.'This growth is fuelled by both new market entrants and expansion of existing players, with a notable increase in requirements for units between 10,000 and 20,000 square feet (930 and 1,860 sq.m).'Prime districts such as Capital Centre, Masdar City, and Al Maryah Island continue to witness strong demand due to their high-quality construction, accessibility, and well-developed infrastructure and B properties in areas like Corniche and Downtown Abu Dhabi are seeing increased interest as tenants seek alternatives amid limited availability, according to the help meet the growing demand, over 100,000 sq.m of office space is slated for completion in 2025. Projects such as Masdar City Square and Yas Place have already achieved healthy pre-commitment Q2 2025, the completion of SAAS Business Tower on Reem Island added over 12,000 sq.m of Grade A office space to the report also pointed out that 100,000 sq.m of space from developments such as One Maryah Place and Saadiyat Business Park are scheduled for completion by ahead, Savills anticipates that Abu Dhabi will continue to attract high-net-worth individuals, family offices, and corporates, underpinned by its robust business environment, transparent regulatory framework, and sustained investment from sovereign wealth funds. 'The city's improving infrastructure and quality of life further enhance its attractiveness. With strong pre-commitment levels reported by leading developers such as Aldar and Mubadala, the outlook for the office sector is poised for sustained expansion,' the report stated. Source: Aletihad - Abu Dhabi
Al Etihad
4 days ago
- Business
- Al Etihad
ADQ completes acquisition of majority stake in Aramex
27 July 2025 20:32 A. SREENIVASA REDDY (ABU DHABI)ADQ, an active sovereign investor focused on critical infrastructure and global supply chains, has completed the acquisition of a majority stake in a statement, ADQ said the voluntary tender offer for Aramex, submitted by its wholly owned indirect subsidiary Q Logistics Holding, has become will now become the majority shareholder in Aramex, with a 63.16% stake when combined with the shareholding held by AD Ports Group, in which ADQ holds a majority latest acquisition is confirmed by the Dubai Financial Market's data shows Q Logistics Holding holds 40.4492%, GeoPost SA 28%, and Abu Dhabi Ports Company 22.69%. The remaining 8.9% is held possibly by retail investors and smaller had initially aimed to acquire 100% of Aramex and potentially delist the company from the Dubai Financial Market. However, it secured voluntary acceptance from only 40.44% of shareholders. An FAQ published at the time of the offer stated, 'If you decide not to participate in the offer, you will be entitled to keep your shares. To the extent the offeror obtains 90% plus 1 share of the total share capital of Aramex, then the offeror is entitled to apply for the compulsory acquisition of the remaining securities held by minority shareholders.' As this threshold was not met, several shareholders, including GeoPost SA, which holds 28%, retained their a subsidiary of France's La Poste, became a shareholder in Aramex in 2021, initially acquiring a 24.9% stake and later increasing it to 28% in 2022, according to information available on Aramex's website.Q Logistics announced its intention to acquire up to 100% of Aramex shares not held by Abu Dhabi Ports on January 13, 2025. The Securities and Commodities Authority approved the offer document on February 9, and Aramex disclosed its receipt to the market the following February 11, Aramex's board reviewed the offer and HSBC's fairness opinion, which deemed the offer financially fair, and recommended that shareholders accept. A formal circular with these details was published on February 13. The offer was priced at Dh3 per share and open for acceptance from February 10 to March March 28, Aramex announced it had received final confirmation from ADQ that Q Logistics had secured acceptances amounting to 40.57%. When combined with the 22.69% held by AD Ports, this brought ADQ's total effective ownership to 63.26%, exceeding the minimum threshold set by SCA's Mergers and Acquisitions Rules. The offer became unconditional on July 22, 2025, following receipt of all regulatory approvals and said Aramex will be integrated into its Transport & Logistics cluster, reinforcing Abu Dhabi's position as a global logistics hub. With operations in over 65 countries and significant warehousing and trucking capacity, Aramex is expected to strengthen ADQ's multimodal logistics platform. ADQ Deputy Group CEO, Mansour AlMulla, said, 'ADQ's majority shareholding in Aramex marks a strategic step toward advancing our vision to build a globally integrated logistics platform anchored in the UAE. Aramex brings strong capabilities and operational depth that complement our existing investments across air, sea, and land infrastructure. Its addition enhances the services layer of the logistics value chain and supports the development of end-to-end trade and supply chain solutions. We believe Aramex is well-positioned to unlock long-term value through greater integration with ADQ's broader portfolio, and we are confident in its ability to deliver sustainable growth.'
Al Etihad
4 days ago
- Business
- Al Etihad
UAE family businesses strengthen growth, contribution to national economy
27 July 2025 13:01 ABU DHABI (WAM)The UAE continues to adopt a forward-looking vision to enhance the regulatory and legislative frameworks governing family businesses in the country. The vision aims to foster sustainable growth, ensure long-term viability, and strengthen the sector's contribution to national economic competitiveness both regionally and globally. The UAE Ministry of Economy and Tourism played a key role in issuing the world's first comprehensive and pioneering legislation dedicated to family businesses: Federal Decree by Law No. (37) of 2022 concerning the Family law aims to ensure business continuity through legal mechanisms and structured procedures, support diversification of business activities, ease generational transition, and encourage expansion into advanced sectors, particularly the new Ministry has also issued four ministerial resolutions under which a unified registry for family companies was established. This registry currently includes more than 15 registered family firms. It also governs family business charters, share buy-back mechanisms, and the issuance of multiple classes of statements to the Emirates News Agency (WAM), Abdullah bin Touq Al Marri, Minister of Economy and Tourism, emphasised that the UAE, guided by its wise leadership, has prioritised the creation of an advanced legislative environment to promote the growth and sustainability of family businesses over the coming highlighted that family businesses are a vital driver of national economic growth, and a pillar of the UAE's long-term vision to build a future-ready reaffirmed the Ministry's commitment to advancing this vital sector through continued efforts and active collaboration with stakeholders. These efforts align with the 'We the UAE 2031' vision, aiming to increase the country's GDP to Dh3 trillion by the next businesses contribute approximately 60% of the UAE's GDP, and employ 80% of the workforce. They also account for around 90% of private sector companies in the businesses operate across a wide range of vital economic sectors, including the new economy, hospitality, retail, real estate, and firms play a crucial role in diversifying the national economy. In Abu Dhabi alone, they represent 50% of the companies in the construction sector, 60% in financial services, 80% in wholesale and trade, and 70% in transportation. Globally, family businesses contribute around 70% of global GDP, making them responsible for more than two-thirds of global economic activity. They are also the largest employer worldwide, providing jobs to nearly 60% of the global workforce.
Time of India
5 days ago
- Business
- Time of India
UAE: Dh3,200 for students, tailored housing aid rolled out to support low-income Emirati families
Low-income Emirati families without housing support receive tailored monthly allowances, while high-achieving university students with a GPA of 3.3+ get up to Dh3,200 monthly/ Representative image TL;DR The UAE has launched new housing and academic allowances for low-income Emirati families. Housing aid is tailored to family size and living conditions, for those without other government housing support. Students with a GPA of 3.3+ can receive up to Dh3,200 per month in education support—even through remote study. In a major expansion of the national social safety net, the UAE Ministry of Community Empowerment has introduced two critical new allowances, the Housing Allowance and the Academic Excellence Allowance for Higher Education, to support Emirati families with limited income. These initiatives, announced on July 25, 2025, are part of the Social Support and Empowerment Programme, a federal effort aimed at improving living standards, fostering academic achievement, and promoting long-term self-reliance among low-income Emirati citizens. The two allowances are designed to offer direct support and targeted incentives, particularly for families that are not already covered by existing housing assistance schemes, and for high-achieving students enrolled in UAE-based universities. A Closer Look at the Housing Allowance The Housing Allowance is targeted at Emirati families already enrolled in the Social Support and Empowerment Programme but not receiving any form of government housing support. The allowance is meant to ensure household stability and provide tailored assistance based on family size and living conditions. Key features include: The allowance amount is calculated based on the number of family members and the type of housing. The ministry differentiates between families living independently and those sharing accommodation with other households in the same unit. Special provisions exist for orphans and for children of incarcerated individuals, offering them flexible and comprehensive access to the housing support. This targeted support plays a pivotal role in ensuring that vulnerable segments of society, especially those not covered by earlier housing initiatives, can live in stable, secure environments. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Knee Pain Keeping You Up at Night? This Trick Could Help Instantly Read More Undo Academic Excellence Allowance Raised to Dh3,200 per Month The Academic Excellence Allowance for Higher Education has been enhanced to provide more meaningful support for high-performing university students. The initiative is meant to incentivize academic achievement among youth from low-income families and contribute to long-term national capacity building. Details include: The maximum allowance amount is Dh3,200 per month. Eligibility is restricted to students enrolled in accredited higher education institutions within the UAE, who maintain a minimum cumulative GPA of 3.3 out of 4.0. Students enrolled in accredited distance learning programs at UAE institutions are also eligible. The allowance reflects the government's dedication to investing in promising talent and promoting academic excellence as a key pillar of personal and national development. This initiative is part of a broader strategy to nurture young Emiratis' skills and align them with the country's long-term goals for innovation, education, and productivity. How to Apply: A Digital-First Process In keeping with the UAE's commitment to digital transformation and service efficiency, the application process for both allowances has been made seamless and accessible: Applications can be submitted via the 'My Files' section on the official Ministry of Community Empowerment website: The processing time for completed applications is 21 days. The system is built to be user-centric and inclusive, ensuring timely assistance for all qualified applicants. The ministry emphasized that all applications are evaluated based on complete documentation and that special mechanisms are in place to address exceptional cases, such as those involving orphans or children of incarcerated individuals. Reinforcing the National Safety Net These new allowances are part of a wider push by the UAE government to strengthen social protection mechanisms. The Social Support and Empowerment Programme was significantly bolstered in 2022 when President Sheikh Mohamed announced a Dh28 billion ($7.6 billion) package to assist low-income Emirati families. As part of this initiative: Annual financial support for eligible families was raised from Dh2.7 billion to Dh5 billion. The total social support budget was doubled, increasing from Dh14 billion to Dh28 billion. Eligible families earning less than Dh25,000 ($6,800) per month receive a range of benefits, including: Dh5,000 monthly aid for citizens aged 45 and older Housing allowance of up to Dh2,500 per month Academic Excellence Allowance of Dh3,200 per month Unemployment support of Dh5,000 per month for six months Inflation compensation, covering food, electricity, water, and fuel costs An Integrated Model for Empowerment These latest allowances reflect what officials are calling an 'integrated Emirati model,' a system that combines direct financial support with performance-based incentives. This model not only addresses the immediate needs of low-income families but also encourages long-term independence, excellence, and societal participation. In a statement accompanying the launch, the Ministry of Community Empowerment said: 'These allowances are part of the UAE's broader strategy for social empowerment. They represent a commitment to enhancing individual capabilities and creating pathways toward self-reliance.' As the UAE continues to fine-tune its approach to social development, the launch of these new allowances marks another step in ensuring inclusive growth and fostering a resilient, empowered society. FAQs: Q. Who can apply for the housing allowance? Emirati families enrolled in the Social Support and Empowerment Programme who do not receive any other housing support. Q. What are the eligibility criteria for the academic excellence allowance? Students must be enrolled in an accredited UAE university (on-campus or remote) and maintain a GPA of at least 3.3. Q. How much is the education allowance? Up to Dh3,200 per month for high-achieving university students. Q. How do I apply for these allowances? Applications must be submitted through the Ministry of Community Empowerment's digital platform at ; processing takes up to 21 days.
The National
7 days ago
- Business
- The National
Emirati housing and education funds launched
Two allowance funding schemes have been launched, one for housing and the other for education, by the Ministry of Community and Empowerment. The allowances have been set up to support the nation's Social Support and Empowerment Programme, a federal initiative providing monthly support to Emirati families with limited income. The housing allowance is intended for families enrolled in the programme who do not receive any form of government housing assistance. The amount is determined based on the family's size and living conditions, distinguished between those living independently and those sharing accommodation with other households. The allowance also includes flexible terms for orphans and children of individuals serving jail terms. What about the education allowance? The education, or academic excellence, allowance is aimed at high-achieving university students. Students enrolled in accredited higher education institutions in the UAE who maintain a cumulative GPA (the grade given per term) of 3.3 or higher are eligible to receive up to Dh3,200 per month. Students enrolled in accredited UAE institutions through remote learning are also eligible. How to apply Applications can be submitted through the ministry's official digital platform via the social subsidy service. All applications are processed within 21 days of submission. Stepping up support The employment programme is the latest step by the government to provide additional assistance to its citizens. In 2022, President Sheikh Mohamed announced a Dh28 billion ($7.6 billion) social support package to provide lower-income Emirati families with subsidies to pay for essentials including fuel, food and utilities. Under the move, annual financial support for eligible families was raised from Dh2.7 billion to Dh5 billion, with the total social support budget doubling from Dh14 billion. The UAE's social welfare programme for low-income citizens is available to Emirati families whose income is less than Dh25,000 ($6,800) a month. The programme offers Dh5,000 aid a month for citizens over the age of 45, housing allowance up to Dh2,500 a month, university education allowance of Dh3,200 a month to outstanding students and Dh5,000 a month for six months to those who are unemployed. In addition, the government offers an inflation allowance, which covers food, electricity, water and fuel costs.
