Latest news with #Dhs
Gulf Today
3 days ago
- Business
- Gulf Today
Gridora, Abu Dhabi Projects and Infrastructure Centre partner to deliver transport infrastructure projects worth Dhs35 billion
Gridora, the new infrastructure platform established by ADQ, IHC and Modon Holding, has signed its first Memorandum of Understanding (MoU) with Abu Dhabi Projects and Infrastructure Centre (ADPIC) for the delivery of high-impact transport infrastructure projects. The agreement marks a key milestone in Gridora's mission to champion the delivery of strategic infrastructure projects. Through this agreement, Gridora and ADPIC will establish a framework for potential collaboration in relation to supporting the development, planning and implementation of strategic infrastructure projects within the Emirate of Abu Dhabi. The initial focus of the MoU will be to establish a working committee to explore potential opportunities and identify pilot projects, activities and initiatives Gridora could undertake. These would be considered from several projects ADPIC aims to deliver within the emirate, with the centre having been mandated to implement projects with an estimated value of at least Dhs 35 billion. Jassem Mohamed Bu Ataba Al Zaabi, Chairman of Gridora, said, 'Gridora's expertise and resources will deliver world-class infrastructure, empowering the nation's ambitious economic and population growth goals. Our MoU with ADPIC reflects our shared commitment to accelerate the implementation of critical transport infrastructure, combining innovation, scale and vision. The delivery of these high-impact infrastructure projects will be transformative to Abu Dhabi, and we look forward to working closely as a trusted infrastructure partner to ADPIC.' Mohamed Ali Al Shorafa, Chairman of the Department of Municipalities and Transport, commented, "This strategic partnership between ADPIC and Gridora underscores a shared focus on creating transport infrastructure that enhances Abu Dhabi's continued growth as a global city. By leveraging Gridora's capabilities, this collaboration aims to accelerate project delivery, improve cost efficiency, and deliver long-term value for Abu Dhabi and its communities." Maysarah Mahmoud Eid, Director-General of ADPIC, said, 'At ADPIC, we see infrastructure as a powerful enabler of opportunity, economic growth, and long-term sustainability. This MoU with Gridora advances our shared commitment to accelerate the delivery of high-impact projects that enhance connectivity and quality of life across the emirate. By combining our strategic vision with Gridora's delivery capabilities we are shaping a future-ready emirate that aligns with Abu Dhabi's strategic vision and long-term goals.' Bill O'Regan, Group CEO of Modon Holding, said, 'With this MoU, we can unlock Gridora's capability to deliver critical infrastructure, ensuring the long-term growth of the recently announced infrastructure platform. We look forward to seeing Gridora move forward with purpose, enabling world-class cities with cutting edge infrastructure.' Operating under Modon Holding and established in partnership with ADQ and IHC, Gridora serves as a strategic platform for collaboration with specialist partners and capital providers, enabling the delivery of large-scale, high-impact infrastructure projects. Gridora has adopted a dual-focus business model spanning 'Infrastructure Projects' and 'Infrastructure Investments', enabling it to lead across the full infrastructure lifecycle. This MoU with ADPIC marks the first in a series of planned engagements to advance high-impact public-priority infrastructure, enhance and foster long-term collaboration between the public and private sectors and is a testament to the significant scale of Gridora's business. WAM
Gulf Today
25-05-2025
- Business
- Gulf Today
DLD launches Mena's first tokenised real estate project
In a landmark move that reinforces Dubai's leadership in the real estate sector and harnesses cutting-edge technologies to advance property investment, Dubai Land Department (DLD) has launched the region's first tokenised real estate investment project through the 'Prypco Mint' platform. The initiative is being implemented in partnership with Prypco, in collaboration with the Virtual Assets Regulatory Authority (VARA), the Central Bank of the United Arab Emirates, and the Dubai Future Foundation (DFF) through the Real Estate Sandbox. Zand Digital Bank has been appointed as the banking partner for the project's pilot phase, positioning Dubai as the first city in the Mena region to adopt a licensed platform for real estate tokenisation. Dubai Land Department has officially launched the pilot phase of investment in tokenised real estate, marking the activation of the digital platform The platform enables users to generate returns and own a share in a prime real estate project in Dubai. Currently available exclusively to UAE ID holders, the platform is set to expand globally in the near future, with additional platforms to be integrated in later phases, further reinforcing Dubai's position as a global hub for innovation in tokenised real estate. The project offers individuals innovative investment opportunities through the purchase of tokenised shares in ready-to-own properties in Dubai, starting from just Dhs2,000. All transactions are carried out exclusively in UAE Dirhams, with no use of cryptocurrencies during the pilot phase. Through the platform, investors can access comprehensive property details, ranging from pricing, risk factors, and technical specifications to the minimum investment required, ensuring full transparency and informed decision-making. This initiative stems from a strategic partnership agreement between Dubai Land Department, Prypco, and Ctrl Alt Solutions, aimed at developing an innovative regulatory and operational framework for real estate tokenization. The partnership focuses on strengthening legislation, promoting knowledge, attracting specialised asset tokenization companies, and supporting innovation while safeguarding investor rights. As the market continues to evolve, tokenized assets are projected to represent up to 7% of Dubai's real estate market by 2033, equating to a value of Dhs 60 billion (USD 16 billion). Prypco Mint is poised to be the cornerstone of this transformation. The real estate tokenisation project is jointly managed by Dubai Land Department, as the regulator of physical real estate assets, and the Virtual Assets Regulatory Authority (VARA), as the regulatory body for digital assets. This collaboration ensures an integrated and transparent regulatory framework for this new and innovative model of property investment. In the current phase, the Central Bank of the United Arab Emirates plays a pivotal role in overseeing the opening of corporate accounts linked to real estate tokenization through the Client Money Account (CMA) system. This dedicated banking structure is designed to safeguard investor funds. Under this system, investors' funds are deposited into the CMA and are not transferred to the tokenization company until the purchase process is fully completed, enhancing security and ensuring maximum transparency. This project comes as part of the DLD's efforts to achieve the objectives of the Dubai Real Estate Sector Strategy 2033, which aims to reinforce Dubai's global leadership in this vital sector by strengthening partnerships with the private sector and attracting innovative international companies. It is also aligned with the goals of the Dubai Economic Agenda D33, launched by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, and Ruler of Dubai, which seeks to drive transformational projects that position Dubai as the world's best city to live and work in, through a fully integrated digital economy that enhances the emirate's position as a global hub for smart real estate investment. The project's initial phase is exclusively limited to ready-to-own properties, and tokenisation is permitted only through companies licensed by the Virtual Assets Regulatory Authority. Dubai Land Department is responsible for reviewing and validating the fairness of property pricing before any listing is approved on the platform. The pilot phase includes two authorized companies, Prypco and Ctrl Alt with plans to open the market to additional qualified firms in the future, supporting the growth of this emerging sector. Investors will benefit from both rental income and capital appreciation resulting from the property's appreciation, while holding a legally documented ownership share issued by Dubai Land Department-ensuring a transparent and secure investment experience without the complexities of traditional property management. This project is part of the Real Estate Evolution Space Initiative (REES) previously launched by Dubai Land Department, which aims to position Dubai on the global map for PropTech and artificial intelligence. WAM
Time Out Dubai
23-05-2025
- Entertainment
- Time Out Dubai
You can dine at Atlantis The Royal for just Dhs125 this weekend — here's how
Dubai foodies are in for a treat this month. As part of Dubai Restaurant Week, many of the city's top restaurants are serving up discounted meals to diners, including six spots at Atlantis The Palm and Atlantis The Royal. You can grab lunch from as little as Dhs125 per person and dinner from Dhs250 per person at some of the most in-demand restaurants in Dubai. Atlantis The Palm and Atlantis The Royal are two of the emirate's most recognisable hotels and home to many of Dubai's best restaurants – including several Time Out Dubai Restaurant Award winners and nominees. The special promotion, running until Sunday May 25 at all restaurants listed below, includes cut-price meals at restaurants run by celebrity chefs, including Gordon Ramsay's Bread Kitchen and Bar and Ariana's Persian Kitchen. Ariana's Persian Kitchen Brought to Dubai by celebrity chef and cookbook author Aruaba Bundy, the Persian Kitchen is laying on specially curated lunch and dinner menus during Dubai Restaurant Week. The restaurant, which calls Atlantis The Royal home, will serve up traditional dishes ranging from fragrant stews and grilled kebabs to traditional Persian desserts. A two-course set lunch menu is priced at Dhs125 per person, while a three-course set dinner menu is Dhs250 per person. From Dhs125 per person. Until Sun May 25. Noon – 1.30pm (lunch), 6pm – 10pm (dinner). Atlantis The Royal, Palm Jumeirah. @arianaspersiankitchen. Ayamma (Credit: Ayamna) Tuck into authentic Lebanese cuisine such as cold and hot mezze, a variety of grilled meats and decadent desserts at Ayamna during Dubai Restaurant Week. Available every evening between 6pm and 11.30pm until Sunday May 25, a three-course set dinner menu is priced at Dh250 per person at this restaurant in Atlantis, The Palm. Dhs250 per person. Until Sun May 25. 6pm – 11.30pm. Atlantis, The Palm, Palm Jumeirah. @ayamnadubai. En Fuego Credit: Supplied One of the city's top Mexican spots, En Fuego, is offering specially curated lunch and dinner menus during Dubai Restaurant Week. Guests can look forward to flavour-packed dishes such as beef tacos, Hamachi tiradito, chicken burritos and marinated flank steak at this Atlantis, The Palm restaurant. The lunch offering of Dhs 125 per person will be available every Wednesday between 12.30pm and 4pm and the dinner dining deal depends on what day of the week you're heading along. On Tuesdays and Wednesdays, the dinner offer of Dhs 250 per person for a set menu is available between 5pm and 11pm. A special family seating slot is available on Thursdays between 5pm and 7pm but at 9pm it's available for people over 21. You can grab the deal between 5pm and 7pm on Fridays. From Dhs125 per person. Until Fri May 23. Tue – Fri, various times. Atlantis, The Palm, Palm Jumeirah. @enfuegodubai. Gordon Ramsay's Bread Street Kitchen & Bar (Credit: Bread Street Kitchen and Bar) A relaxed dining spot packed with British favourites, Gordon Ramsay's Bread Street Kitchen and Bar is serving up exclusive lunch and dinner menus during the promotional period. Signature dishes include fish and chips, plus Gordon Ramsay's famed beef Wellington at this Atlantis, The Palm restaurant. The Dhs125 per person two-course set lunch menu is available from noon until 5.30pm until Sunday May 25. And the Dhs250 per person three-course set dinner menu is available from 6pm until 10pm between Sundays and Mondays, and from 6pm until 11pm on Fridays and Saturdays. From Dhs125 per person. Until Sun May 25. Various timings. Atlantis, The Palm, Palm Jumeirah. @breadstreetkitchendubai. Ling Ling (Credit: Ling Ling) Found at the crown of Atlantis The Royal, Ling Ling offers breathtaking views of the Dubai skyline and the Arabian Gulf in addition to a variety on tasty Asian flavours. During Dubai Restaurant Week guests can tuck into a specially curated Dhs250 per person three-course dinner menu highlighting Ling Ling's contemporary flavours. Starts include beef tataki with ponzu, truffle aioli and crispy garlic plus Szechuan chicken dumplings. Main course choices include roasted sambal salmon, Kung Pao chicken, lamb shank rendang and crispy Mapo tofu. And for dessert you can choose from the likes of mango pandan sticky rice to hazelnut chocolate moelleux. Dhs250 per person. Until Sun May 25. 6pm until 11.30pm. Atlantis, The Royal, Palm Jumeirah. @linglingdubai. Studio Frantzén Credit: Studio Frantzén One of the newest spots on the scene in Atlantis' collection of top restaurants, Studio Frantzén is offering a three-course dinner menu priced at Dhs250 per person. The menu, which comes courtesy of acclaimed Swedish chef Björn Frantzén, fuses French-Asian flavours with Nordic influences. Highlights include seabass ceviche with ponzu strawberries, 'ma-la' with crispy shiso, and mains like roasted baby chicken with sesame miso aioli and salmon with finger lime and sea buckthorn beurre blanc. Dhs250 per person. Until Sun May 25. 6pm – 11.30pm. Atlantis, The Palm, Palm Jumeirah. @studiofrantzendubai. Need a reservation in the meantime? New restaurants in Dubai that you need to visit right now From casual eats to fine dining, there's bound to be a new venue you'll want to try These are Dubai's best restaurants: 86 incredible places to dine in 2025 All the winners of the Time Out Dubai Restaurant Awards 2024 The best dining deals and offers in Dubai to snap up Don't miss these incredible discounts across the city today
Mid East Info
20-05-2025
- Business
- Mid East Info
Dubai Investments Strengthens Industrial Leadership at ‘Make it in the Emirates' - Middle East Business News and Information
Dubai Investments PJSC, the leading diversified investment company listed on the Dubai Financial Market (DFM), is reinforcing its industrial leadership at this year's Make it in the Emirates, showcasing the Group's extensive capabilities across key sectors including glass, aluminium, steel, metal, lighting, polystyrene, and pharmaceuticals. The Group's participation spotlights the contributions of its flagship subsidiaries, including Emirates Glass, Emirates Float Glass, Emirates Building Systems, Emirates Extrusion Factory, White Aluminum Extrusion, Gulf Metal Craft, Emirates Extruded Polystyrene, Lite-tech Industries and Globalpharma—each a leader in its respective field. Collectively, these entities continue to play a pivotal role in driving the UAE's industrial transformation and global trade outreach. During the forum, Globalpharma, a wholly owned subsidiary of Dubai Investments, received Quality Award in SME category (Small and Medium Enterprises), recognising its excellence in implementing quality systems and delivering high-standard, trusted products. In addition, few Dubai Investments subsidiaries signed Memorandums of Understanding (MoUs) with international partners aimed at advancing technology and strengthening the UAE's position as a leading manufacturing hub. Dubai Investments continues to play a key role in exporting UAE-manufactured products to international markets, with its subsidiaries adhering to global quality and sustainability standards. The Group's integrated approach to innovation, localization, and strategic partnerships underlines its long-standing role as one of the pioneers in the UAE's industrial sector. Make It In the Emirates serves as a powerful platform for Dubai Investments to reinforce its legacy of industrial excellence, advance its sustainability commitments, and forge collaborations that shape the future of manufacturing in the UAE and beyond. This year's participation also marks a significant milestone for Dubai Investments as the Group celebrates 30 years of business in the UAE. Dubai Investments PJSC: Dubai Investments is a publicly listed UAE based multi-asset investment Group, managing a diverse portfolio of businesses, generating sustainable financial returns to its shareholders. Established in 1995, Dubai Investments is one of the leading investments Group in the UAE, initiating new businesses and partnering with dynamic entities, creating strategic investment opportunities across the region. With 15,956 shareholders, a paid-up capital of Dhs. 4.25 billion and total assets worth more than Dhs. 22 billion, the Group applies insight and experience to expand and be a reliable growth driver for businesses within sectors like real estate, manufacturing, healthcare, education, investments and services. The Group's diverse portfolio consists of wholly and partly owned companies and reflects the Company's continued focus on business diversification to drive growth in line with evolving industry trends. Focused on leveraging strengths with an interest in establishing existing and new business opportunities with a long-term, strategic and creative approach and with an emphasis on sustainable returns and capital growth, Dubai Investments collaborates on investment strategies meeting the changing needs of the economy and the societies in which it operates. Complementing the strategic objectives and creating value for stakeholders, the Group pursues growth through mergers and acquisitions and business expansions.
Gulf Today
20-05-2025
- Business
- Gulf Today
Sheikh Hamdan launches 'Dubai PropTech Hub' to make Dubai real estate global leader
Sheikh Hamdan Bin Mohammed Bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister, Minister of Defence, Chairman of The Executive Council of Dubai, and Chairman of the Higher Committee for Future Technology and Digital Economy, chaired a meeting of the Committee and issued directives to launch The Dubai PropTech Hub. The move seeks to fast-track the expansion of the PropTech market in the emirate, aiming to more than double its value to surpass Dhs 4.5 billion over the next five years. It also reinforces Dubai's position as a global leader in real estate innovation, in line with the Dubai Economic Agenda D33 and the Dubai Real Estate Sector Strategy 2033. During the meeting, Sheikh Hamdan reviewed the committee's business report, which detailed the results of past projects, evaluated the progress of ongoing initiatives, and examined new proposals aimed at fostering innovation and accelerating the growth of digital enterprises within a supportive and integrated economic environment. Sheikh Hamdan said that Dubai, guided by the visionary leadership of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has become a leading global hub for high-value investments and top talent, with the real estate sector being no exception. The emirate has developed a unique model that balances sustainable development with digital transformation, enhancing its readiness for future challenges. Sheikh Hamdan described the launch of the Hub as a strategic move to accelerate digital transformation in one of Dubai's key economic sectors. He highlighted that Dubai PropTech Hub will foster a supportive environment for real estate innovation, empowering talents and entrepreneurs to turn ideas into successful ventures. He added that it aims to strengthen Dubai's PropTech sector, attract quality investments, and enhance the emirate's global competitiveness. Sheikh Hamdan said Dubai has laid a strong foundation for a fully integrated digital economy through ambitious initiatives to advance technological innovation. He stressed that adopting the latest technologies is a strategic necessity to create a business environment that is geared for future challenges and growth in a rapidly evolving, competitive world. He said that Dubai's digital economy has become a distinct reality, underpinned by a flexible legal framework, advanced infrastructure, and robust support for startups and innovators. He emphasised that integrating key sectors such as real estate, commerce, and industry with emerging digital platforms is essential for sustainable growth and achieving the emirate's economic and social goals. The Dubai PropTech Hub aims to drive rapid growth in the property technology sector by adopting cutting-edge digital solutions, aligned with the Dubai Real Estate Sector Strategy 2033 and the Dubai Economic Agenda D33, which seek to double Dubai's economy and rank it among the world's top three cities within a decade. Dubai's PropTech market was valued at around Dhs2.2 billion in 2023, and the Hub aims to attract over Dhs1 billion investments by 2030, supporting more than 200 PropTech companies, and drawing 20 investment funds. The Hub offers a comprehensive ecosystem for startups, featuring advanced incubators, interactive workspaces, and smart outdoor areas that foster collaboration and innovation, alongside state-of-the-art infrastructure for developing and testing AI-driven business models. Sheikh Hamdan reviewed the committee's report, which outlined progress on major digital initiatives, including the '5,000 Digital Talents' initiative aimed at placing students in top global tech firms. The meeting also covered results from the previous Expand North Star, the world's largest event for startups and investors, and preparations for its next edition. Sheikh Hamdan was also updated on the IGNITE platform, which was launched recently, and seek to connect founders with a global network of investors, mentors, corporate organisations, and government entities, creating a comprehensive growth ecosystem. WAM
