Latest news with #EmiratesGlobalAluminum
Arabian Post
25-06-2025
- Business
- Arabian Post
UAE developers enters the $110.83 trillion US realty market
By Saifur Rahman A number of UAE developers are entering the lucrative US$110.83 trillion real estate market in the United States, after their success in the UAE, which saw real estate transactions exceeded Dh893 billion last year. Americans are also one of the top ten nationalities to invest in the UAE's real estate market where rental yield ranges between 7 to 9 percent. 'Emirati investments in the US, totaling over US$1 trillion, span from real estate to renewable energy, driving economic growth and creating jobs,' according to a report by UAE Embassy in Washington. ADVERTISEMENT 'The UAE-US trade and investment partnership continues to be a testament to the strength and potential of international cooperation. The UAE trades with all 50 US states, significantly supporting the American economy. US trade with UAE supports 161,000 American jobs.' The UAE recently announced investment of US$1.4 trillion in US data centres while UAE's ADNOC said, it will invest US$60 billion in expanded energy partnerships with major US firms and Emirates Global Aluminum said it will invest US$$4 billion in an aluminum smelter in Oklahoma. The enterprise value of UAE investments in the U.S. energy sector will rise to $440 billion by 2035 from $70 billion now. Among the UAE developers, Moafaq Al Gaddah (MAG) Group, Invest Group Overseas (IGO), Mulk Holding, Dar Global and Sobha Realty have already announced a number of their projects that are being developed in different cities in the US. Damac Group earlier announced US$20 billion investment in data centre in the US. 'For American investors, UAE real estate offers high yields, tax benefits, and diversification in a fast-growing market. Investing in UAE real estate provides capital security, global market access, and an inflation hedge,' according to Martin Kocher, Partner at Alternative Investments. Abu Dhabi's Mubadala Investment Company has recently injected new capital into the US alternative real estate commercial lender 3650 REIT as part of a recent funding round. Mubadala's website indicates that its real estate division has partnered with 3650 REIT and CalSTRS to commit up to US$4 billion towards the US real estate credit markets. ADVERTISEMENT 'The total value of the US housing market is approaching US$50 trillion, having added $3.1 trillion in value over the past year. This represents a 6.6 percent rise compared to June 2023 and is more than double the value of a decade ago. Residential real estate is expected to be the dominant segment of the US real estate market, with a projected market volume of US$110.83 trillion in 2025,' said a recent report by Statista, a global market intelligence provider. Foreign investment in U.S. real estate surpassed US$1.2 trillion in the last 15 years, according to a report published by The Regulatory Review. Foreign buyers purchased 54,300 properties, worth US$42 billion from April 2023 through March 2024, according to the US National Association of Realtors (NAR). Foreign buyers who resided in the U.S. as recent immigrants or who were holding visas that allowed them to live in the U.S. purchased US$22.6 billion worth of U.S. existing homes, representing 54 percent of the dollar volume of purchases. Foreign buyers who lived abroad purchased US$19.4 billion worth of existing homes, accounting for 46 percent of the dollar volume. International buyers accounted for 2 percent of the US$2.1 trillion in total annual US existing-home sales during that period. Florida remained the top destination for foreign buyers, accounting for 20 percent of all international purchases. Texas (13%) and California (11%) were second and third, respectively, followed by Arizona (5%), Georgia, New Jersey, New York and North Carolina (4% each), NAR said. Inventory in Miami-Dade County, which includes one of the most expensive metro markets in Florida and the country, rose by over 43 percent in April compared to the same month a year earlier, according to data from Miami Realtors. This surge in for-sale homes could be a telltale sign of an impending cooldown in Miami-Dade's housing market, even as prices continue to rise in the county at a rate five times faster than the national level, according to Redfin data. The news comes as more than 100 real estate exhibitors from 15 countries including UAE are going to participate at the 2nd edition of America Property Exhibition, Summit and Gala Awards that will take place at the Miami Convention Centre from September 15-17, 2025. Organised by MIE Events, an international events organiser, and supported by Dubai Land Department, the 2nd America Property Exhibition (APEX) will see major UAE real estate developers; brokers and investors participate in the three-day event that will also focus on the cross-border investment in real estate and construction sector worldwide. APEX will attract more US investors and property buyers to buy properties in the UAE. The APEX takes place a few months after the UAE's recent announcement of investment outlay of US$1.4 trillion in US economy in the next ten years in various sectors like AI infrastructure, semiconductors, energy, housing and American manufacturing. More than 3,000 professional realtors are expected to attend the three-day event in which more than 100 global real estate projects will be showcased where 150 experts and speakers will offer their insights and more than 100 VIP buyers will attend to invest in the projects that will be showcased at the APEX 2025 Exhibition and Conference. 'APEX is designed to be the leading international real estate platform in the US, promoting global investment, innovation, and partnerships in the property sector and we are delighted to announce the dates for the 2nd APEX this September, following our successful first edition held last year,' Zahoor Ahmed, Vice-President for Strategy and Partnerships at MIE Events, says. 'We are also happy to announce our partnership with the Dubai Land Department which has lent its strong support to the event that is expected to attract investment from the North American markets to the UAE's property market in the coming years. This way, APEX is going to play a crucial role in strengthening the US-UAE economic partnership.' Also published on Medium. Notice an issue? Arabian Post strives to deliver the most accurate and reliable information to its readers. If you believe you have identified an error or inconsistency in this article, please don't hesitate to contact our editorial team at editor[at]thearabianpost[dot]com. We are committed to promptly addressing any concerns and ensuring the highest level of journalistic integrity.
Yahoo
21-05-2025
- Business
- Yahoo
Emirati company to build USA's largest aluminum smelter at Port of Inola
In a few years, Rogers County could be home to the United States' largest aluminum smelting operation. Gov. Kevin Stitt announced Friday he had inked a memorandum of understanding with Emirates Global Aluminum. The Emirati company has selected 350 acres at the Port of Inola as its preferred site to build a $4 billion aluminum plant by 2030. It would be the first industrial aluminum smelter built in the U.S. in the past 45 years, according to the Oklahoma Department of Commerce. Ron Burrows, District 3 commissioner, said he believes the announcement heralds a new era of manufacturing excellence in Rogers County and the United States. "I am proud to be a part of representing Rogers County in President Donald Trump's vision of revitalizing American manufacturing, bringing back an industry — primary aluminum manufacturing — that has not been built in the U.S. for decades," Burrows said. According to the memorandum, the company plans to create 900 to 1,000 manufacturing jobs in Inola and produce 600,000 metric tons of aluminum yearly. In 2024, the entire U.S. smelted about 670,000 tons, according to the U.S. Geological Survey. The memorandum's terms call for preparatory site work to begin in 2026, with a goal to start the smelters firing by the final quarter of 2029 or first quarter of 2030. Stitt said the signing of the memorandum — the terms with which the Oklahoma Legislature must agree — marks a monumental day for Oklahoma. "We are proud to welcome Emirates Global Aluminum to our state and excited for the generational impact this investment will have on our future," Stitt said. "As President Donald Trump looks to onshore our nation's supply chain for critical minerals, Oklahoma is leading the way in this sector." Stitt said Oklahoma's pro-business environment is making the state the country's critical minerals headquarters. According to the release, the aluminum the company smelts will particularly benefit the aerospace, automotive, defense and food sectors. Inola seeks to create three overlapping tax increment financing districts at the Port of Inola to siphon extra revenue from the smelter project. The three TIF districts would capture ad valorem tax, sales tax and franchise fee revenue. The Inola Board of Trustees will meet May 27 at 6 p.m. for a public hearing where residents can give feedback on the town's TIF district initiative. The hearing will take place at Inola Town Hall, 900 James Court. EGA would retain roughly half this revenue for project development, per the memorandum. It would divvy up the rest among the city, county, Inola schools, community improvements and the Tulsa ports. Jeff Unrau, superintendent of Inola Public Schools, said the prospect is exciting and will help the district invest in new facilities. Deanne Hughes, chair of the Tulsa Ports board of directors, said EGA's decision to manufacture aluminum in Oklahoma reflects Tulsa Ports' commitment to growth in northeast Oklahoma. "EGA's presence will spur new permanent job creation, substantially increase waterway shipping on the McClellan-Kerr Arkansas River Navigation System and open the door to new opportunities for Oklahoma," Hughes said.
Yahoo
16-05-2025
- Business
- Yahoo
Basic Materials Roundup: Market Talk
Find insight on gold prices, Emirates Global Aluminum, Fresnillo and more in the latest Market Talks covering Basic Materials.
Yahoo
16-05-2025
- Business
- Yahoo
Trump Announces Trillion-Dollar Tech Investment From UAE
After several massive announcements and deals to come out of Trump's visit to Saudi Arabia and Qatar, developments during the last leg of the US President's Gulf tour in United Arab Emirates actually seem a bit humdrum by comparison. Among the more notable statements has been Trump's touting a 1.4 trillion... yes that's trillion... investment in AI and other tech sectors from the Emirates. The White House had previewed this longtime in the works deal as related to artificial intelligence infrastructure, semiconductors, energy and manufacturing. Further, Emirates Global Aluminum will "invest in the first new aluminium smelter in the United States in 35 years, which would nearly double US domestic aluminium production." According to more developments out of the UAE: The White House said that Trump and Qatar's Emir Sheikh Tamim bin Hamad Al Thani signed agreements that would 'generate an economic exchange worth at least $1.2 trillion'. The agreements are said to include a $96bn deal with Qatar Airways to buy up to 210 Boeing 787 Dreamliner and 777X aeroplanes, and a statement of intent for $38bn in investments at Qatar's Al Udeid Airbase and other air defence capabilities. A meeting is scheduled for later today of US, Turkish and Syrian officials to discuss details of Trump's announced dropping of sanctions against Syria. Trump's three-country tour of the Gulf state region will conclude in the United Arab Emirates on Thursday. Amid lots of awards ceremonies, accolades, and a state dinner... Trump has also been filling in more details of fresh arms deals inked with Qatar. "Yesterday we signed an agreement for Qatar to purchase $42bn-worth of the finest American military hardware including THAAD missile batteries," he said Thursday while speaking to US troops at Al Udeid airbase. The commander-in-chief further detailed that the deal includes "Pegasus refueling aircraft, Desert Vipers, light armored vehicles, amphibious combat vehicles, the MQ-9B and the Sky Guardian drones." As for Qatar, the president says he's still ready to accept a donated jet from the tiny oil and gas rich country, a flying palace of a future Air Force One, which Dems have been warning would be a violation of the US Constitution's prohibition on foreign gifts. Certainly he'll come back to Washington awaiting immense controversy and backlash from the corporate media and his political enemies. By More Top Reads From this article on
Washington Post
16-05-2025
- Business
- Washington Post
Oklahoma inks deal with UAE company to build $4B aluminum smelting facility
OKLAHOMA CITY — Oklahoma state officials announced a deal Friday with a private company in the United Arab Emirates for the construction of a $4 billion aluminum manufacturing facility in northeast Oklahoma. Gov. Kevin Stitt and Oklahoma Department of Commerce officials say the deal with Emirates Global Aluminum would result in the first new aluminum smelting facility to be built in the U.S. in 45 years.
