Latest news with #MBCC
ME Construction
10-03-2025
- Business
- ME Construction
Arada awards $165mn contract to build the first phase of Arada Central Business District
Construction Arada awards $165mn contract to build the first phase of Arada Central Business District By The business park's full master plan features 40 office blocks, employee-friendly elements and landscaped 'green spine' Arada has awarded a contract valued at US $165mn to build the first phase of the Arada Central Business District (CBD). Billed as the 'commercial centre for Sharjah', the CBD will take shape in the developer's $9.52bn Aljada mega project. The contract for construction has been awarded to Modern Building Contracting Company (MBCC). Works are expected to begin on the first cluster of Arada CBD immediately, with completion and handover scheduled for the first quarter of 2027. In total, the cluster will feature 812,000sqft of Grade A leasable space, as well as 1,666 parking spaces, 76,000sqft of landscaped green space, and 26,500sqft of retail space. Each office also benefits from smart technology as part of Aljada's overall smart city programme, employing next-generation solutions for everything from waste and traffic management to the circular economy and smart lighting. The eight smart blocks included in the first phase include Arada's headquarters, a nine-floor building that will introduce a new workplace for the master developer's 1,500 staff. Arada's headquarters contains extensive facilities including an accessible roof for events, an amphitheatre, ground floor café and staff restaurant. A grand atrium that reaches from the ground floor to the roof will connect all of Arada's departments both visually and physically, said a statement from the developer. 'Since the launch of Arada CBD, we've seen strong investor demand for commercial space within this impressive business park, in line with the overall performance of the sector in the UAE. With its contemporary urban architecture, facilities designed to enable and inspire workforces and excellent connectivity in close proximity to Sheikh Mohammed bin Zayed Road, international airports in both Sharjah and Dubai and the upcoming Etihad Rail station, Arada CBD is set to play a leading role in Sharjah's future economy,' said Ahmed Alkhoshaibi, Group CEO of Arada. The signature feature of Arada CBD is the 'green spine,' a forest park that runs the length of the district, featuring shaded walkways, an amphitheatre, and green rooftop terraces on most buildings. It also includes a variety of cafés, dining venues, and retail spaces, complemented by extensive parking. In total, the 40 smart buildings in Arada CBD incorporate prime leasable space, setting a new standard for sustainability and connectivity. Arada is aiming for all buildings in Arada CBD to achieve LEED, WiredScore and SmartScore certification when the district is completed, in a first for the Sharjah market. LEED is a globally recognised green building rating system, while WiredScore and SmartScore are internationally recognised standards for digital connectivity and smart buildings. Around 30% of Aljada's 25,000 homes are now completed, alongside entertainment, retail, educational, and sporting attractions and amenities, including the SABIS International School–Aljada, the Wellfit Madar flagship gym, the Zad food truck park, Aljada Skate Park, and East Boulevard, the tree-lined avenue filled with shopping and dining experiences. Aljada is Sharjah's largest project, transforming the Emirate with its residential districts and hospitality, entertainment, sports, education and healthcare facilities—all set within a walkable, green community.
Zawya
06-03-2025
- Business
- Zawya
Arada wins Sharjah Central Business District Phase I contract
Leading UAE-based developer Arada has awarded a contract for the construction of Phase I of Arada Central Business District (CBD), the upcoming commercial centre for Sharjah, within the AED35 billion ($9.5 billion) Aljada megaproject. The AED604 million ($164 million) contract has been clinched by Modern Building Contracting Company (MBCC), which will begin construction of the first cluster of Arada CBD immediately, with completion and handover scheduled for the first quarter of 2027. The eight smart blocks included in the Phase I include Arada's headquarters, a nine-floor building that will introduce a dynamic new workplace for the master developer's 1,500 staff. Arada's headquarters contains extensive facilities including an accessible roof for events, an amphitheatre, ground floor café and staff restaurant. A grand atrium that reaches from the ground floor to the roof will connect all of Arada's departments both visually and physically, stated the developer. In total, the cluster will feature 812,000 sq ft of Grade A leasable space, as well as 1,666 parking spaces, 76,000 sq ft of landscaped green space, and 26,500 sq ft of retail space, it added. Group CEO Ahmed Alkhoshaibi said: "Since the launch of Arada CBD, we've seen strong investor demand for commercial space within this impressive business park, in line with the overall performance of the sector in the UAE." "With its contemporary urban architecture, facilities designed to enable and inspire workforces and excellent connectivity in close proximity to Sheikh Mohammed bin Zayed Road, international airports in both Sharjah and Dubai and the upcoming Etihad Rail station, Arada CBD is set to play a leading role in Sharjah's future economy," he added. According to Arada, the signature feature of Arada CBD is the 'green spine,' a forest park that runs the length of the district, featuring shaded walkways, an amphitheatre, and green rooftop terraces on most buildings. It also includes a variety of cafés, dining venues, and retail spaces, complemented by extensive parking. In total, the 40 smart buildings in Arada CBD incorporate 4.3 million square feet of prime leasable space, setting a new standard for sustainability and connectivity. The Emirati developer is aiming for all buildings in Arada CBD to achieve LEED, WiredScore and SmartScore certification when the district is completed, in a first for the Sharjah market. LEED is a globally recognised green building rating system, while WiredScore and SmartScore are internationally recognised standards for digital connectivity and smart buildings. Each office also benefits from smart technology as part of Aljada's overall smart city programme, employing next-generation solutions for everything from waste and traffic management to the circular economy and smart lighting. Around 30% of Aljada's 25,000 homes are now completed, alongside a wealth of other entertainment, retail, educational, and sporting attractions and amenities. Spanning 24 million square feet, Aljada is Sharjah's largest project to date, transforming the emirate with its residential districts and hospitality, entertainment, sports, education and healthcare facilities - all set within a walkable, green community.- TradeArabia News Service Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
Trade Arabia
06-03-2025
- Business
- Trade Arabia
Arada wins Sharjah Central Business District Phase I contract
Leading UAE-based developer Arada has awarded a contract for the construction of Phase I of Arada Central Business District (CBD), the upcoming commercial centre for Sharjah, within the AED35 billion ($9.5 billion) Aljada megaproject. The AED604 million ($164 million) contract has been clinched by Modern Building Contracting Company (MBCC), which will begin construction of the first cluster of Arada CBD immediately, with completion and handover scheduled for the first quarter of 2027. The eight smart blocks included in the Phase I include Arada's headquarters, a nine-floor building that will introduce a dynamic new workplace for the master developer's 1,500 staff. Arada's headquarters contains extensive facilities including an accessible roof for events, an amphitheatre, ground floor café and staff restaurant. A grand atrium that reaches from the ground floor to the roof will connect all of Arada's departments both visually and physically, stated the developer. In total, the cluster will feature 812,000 sq ft of Grade A leasable space, as well as 1,666 parking spaces, 76,000 sq ft of landscaped green space, and 26,500 sq ft of retail space, it added. Group CEO Ahmed Alkhoshaibi said: "Since the launch of Arada CBD, we've seen strong investor demand for commercial space within this impressive business park, in line with the overall performance of the sector in the UAE." "With its contemporary urban architecture, facilities designed to enable and inspire workforces and excellent connectivity in close proximity to Sheikh Mohammed bin Zayed Road, international airports in both Sharjah and Dubai and the upcoming Etihad Rail station, Arada CBD is set to play a leading role in Sharjah's future economy," he added. According to Arada, the signature feature of Arada CBD is the 'green spine,' a forest park that runs the length of the district, featuring shaded walkways, an amphitheatre, and green rooftop terraces on most buildings. It also includes a variety of cafés, dining venues, and retail spaces, complemented by extensive parking. In total, the 40 smart buildings in Arada CBD incorporate 4.3 million square feet of prime leasable space, setting a new standard for sustainability and connectivity. The Emirati developer is aiming for all buildings in Arada CBD to achieve LEED, WiredScore and SmartScore certification when the district is completed, in a first for the Sharjah market. LEED is a globally recognised green building rating system, while WiredScore and SmartScore are internationally recognised standards for digital connectivity and smart buildings. Each office also benefits from smart technology as part of Aljada's overall smart city programme, employing next-generation solutions for everything from waste and traffic management to the circular economy and smart lighting. Around 30% of Aljada's 25,000 homes are now completed, alongside a wealth of other entertainment, retail, educational, and sporting attractions and amenities.
Zawya
06-03-2025
- Business
- Zawya
Arada awards AED 604mln contract to build the first phase of Arada Central Business District
Construction begins on 8 smart office blocks at Aljada with delivery scheduled for 2027 Cluster includes Arada's dynamic new HQ building Business park's full master plan features 40 office blocks, employee-friendly elements and landscaped 'green spine' Sharjah, United Arab Emirates: Arada has awarded a contract valued at AED604 million to build the first phase of Arada Central Business District (CBD), the upcoming commercial centre for Sharjah, which is based in the AED35 billion Aljada megaproject. The contract has been awarded to Modern Building Contracting Company (MBCC), which will begin construction of the first cluster of Arada CBD immediately, with completion and handover scheduled for the first quarter of 2027. The eight smart blocks included in the first phase include Arada's headquarters, a nine-floor building that will introduce a dynamic new workplace for the master developer's 1,500 staff. Arada's headquarters contains extensive facilities including an accessible roof for events, an amphitheatre, ground floor café and staff restaurant. A grand atrium that reaches from the ground floor to the roof will connect all of Arada's departments both visually and physically. In total, the cluster will feature 812,000 square feet of Grade A leasable space, as well as 1,666 parking spaces, 76,000 square feet of landscaped green space, and 26,500 square feet of retail space. Ahmed Alkhoshaibi, Group CEO of Arada, said: 'Since the launch of Arada CBD, we've seen strong investor demand for commercial space within this impressive business park, in line with the overall performance of the sector in the UAE. With its contemporary urban architecture, facilities designed to enable and inspire workforces and excellent connectivity in close proximity to Sheikh Mohammed bin Zayed Road, international airports in both Sharjah and Dubai and the upcoming Etihad Rail station, Arada CBD is set to play a leading role in Sharjah's future economy.' The signature feature of Arada CBD is the 'green spine,' a forest park that runs the length of the district, featuring shaded walkways, an amphitheatre, and green rooftop terraces on most buildings. It also includes a variety of cafés, dining venues, and retail spaces, complemented by extensive parking. In total, the 40 smart buildings in Arada CBD incorporate 4.3 million square feet of prime leasable space, setting a new standard for sustainability and connectivity. Arada is aiming for all buildings in Arada CBD to achieve LEED, WiredScore and SmartScore certification when the district is completed, in a first for the Sharjah market. LEED is a globally recognised green building rating system, while WiredScore and SmartScore are internationally recognised standards for digital connectivity and smart buildings. Each office also benefits from smart technology as part of Aljada's overall smart city programme, employing next-generation solutions for everything from waste and traffic management to the circular economy and smart lighting. Around 30% of Aljada's 25,000 homes are now completed, alongside a wealth of other entertainment, retail, educational, and sporting attractions and amenities, including the SABIS International School–Aljada, the Wellfit Madar flagship gym, the Zad food truck park, Aljada Skate Park, and East Boulevard, the tree-lined avenue filled with shopping and dining experiences. Spanning 24 million square feet, Aljada is Sharjah's largest project to date, transforming the Emirate with its residential districts and hospitality, entertainment, sports, education and healthcare facilities—all set within a walkable, green community. About Arada Launched in 2017 and headquartered in the UAE, Arada was created to build spaces people connect with for healthier, happier and more meaningful lives. Arada's scope of operation covers property development, retail, education and hospitality. The master developer has so far launched four record-breaking communities in the Emirate of Sharjah—Aljada, Masaar, Anantara Sharjah Resort & Residences and Nasma Residences—as well as Jouri Hills at Jumeirah Golf Estates, Armani Beach Residences at Palm Jumeirah and W Residences at Dubai Harbour, all in Dubai. Arada also operates a portfolio of complementary brands and experiences, which includes large-scale gyms, F&B and retail assets, social initiatives and visitor destinations. For more information and high-resolution images contact media@ For more information about Arada:
Yahoo
21-02-2025
- Business
- Yahoo
SIKA WITH RECORD RESULTS – JUMP IN NET PROFIT OF 17.4%
Ad Hoc Announcement Pursuant to Article 53 of the SIX Exchange Regulation Listing Rules SIKA WITH RECORD RESULTS – JUMP IN NET PROFIT OF 17.4% Sika posts net sales of CHF 11,763.1 million (+4.7% in CHF) in 2024 Sales growth of 7.4% in local currencies Increase in material margin to 54.5% (2023: 53.6%) 11.0% growth in operating profit before depreciation and amortization (EBITDA) to CHF 2,269.5 million (previous year: CHF 2,044.7 million) Strong increase in EBITDA margin to 19.3% (2023: 18.2%) 17.4% jump in net profit to CHF 1,247.6 million (previous year: CHF 1,062.6 million) 16.7% increase in diluted earnings per share to CHF 7.76 (previous year: CHF 6.65) Proposed dividend per share of CHF 3.60 (previous year: CHF 3.30) Outlook for fiscal 2025: Expected sales increase in local currencies of 3-6%, and over-proportional increase in EBITDA and rise in EBITDA margin to 19.5%-19.8% Confirmation of 2028 strategic mid-term targets for sustainable, profitable growth Sika can look back on a positive business development in the past fiscal year. The company reports a strong performance in a market that remained very challenging, achieving record results. In 2024, Sika generated net sales of CHF 11,763.1 million (previous year: CHF 11,238.6 million). In local currencies this corresponds to an increase of 7.4%. Sales growth in Swiss francs amounted to 4.7%. This figure includes a foreign currency impact of -2.7%. Organic growth was 1.1% above the previous year's level. In the second half of the year, organic growth came to 1.7%. Sika thus once again expanded its market share in the past fiscal year. Thomas Hasler, CEO: 'Despite a market environment that remains very challenging, we achieved new record sales and an over-proportional increase in profits. We are proud of this performance and have demonstrated our ability to expand our market shares even under demanding conditions and to fully exploit the strengths of the MBCC acquisition, our numerous growth initiatives and our powerful and sustainable product innovations. We have positioned ourselves as a strong player and will continue to drive growth and exploit business opportunities for Sika. Our more than 34,000 employees have once again delivered outstanding results and have made a significant contribution to Sika's success with their positive mindset and motivation – I would like to thank them most sincerely for this.' PRONOUNCED IMPROVEMENT IN MATERIAL MARGIN – OVER-PROPORTIONAL INCREASE IN PROFITABILITYIn 2024, Sika significantly increased its material margin to 54.5% (previous year: 53.6%), which is within the expected bandwidth of 54-55%. EBITDA increased over-proportionally by 11.0% to CHF 2,269.5 million (previous year: CHF 2,044.7 million), a new record level. The EBITDA margin reached 19.3% (previous year: 18.2%). Net profit also reached a new record level at CHF 1,247.6 million which is 17.4% higher than previous year (previous year: CHF 1,062.6 million). With a high operating free cash flow of CHF 1,402.9 million (previous year: CHF 1,441.5 million), or 11.9% of sales, well above the strategic target of 10%, Sika reduced its indebtedness in 2024 and further strengthened its balance sheet. GROWTH AND MARKET SHARE GAINS IN ALL REGIONSAll regions performed well, contributing to Sika's sustained growth and expansion of market share. Sika thus succeeded in achieving further organic growth in the past fiscal year, even under difficult market conditions. The EMEA region (Europe, Middle East, Africa) reported a sales increase in local currencies of 7.3% (previous year: 14.1%). In 2024, the market environment in the European construction markets was very challenging, while countries in the Middle East and Africa were able to greatly expand their business activities. Contrary to the market trend, Sika was able to perform well in a negative market in Germany, while southern countries such as Italy and Spain achieved slight growth over the course of the year. The automotive and industrial business declined. This is due in particular to falling demand for new vehicles in Europe. Only the sale of hybrid vehicles increased in 2024. In local currency terms, the Americas region achieved an 11.2% increase in sales (previous year: 15.0%). The year 2024 was the first time that revenues in the region surpassed CHF 4 billion. Sika USA posted steady, strong growth. State-supported infrastructure projects and commercial construction projects that are being implemented as part of the drive to relocate production in the USA are supporting the positive trend. Thanks to Sika's local presence – close to 100% of all the products and solutions that are sold in the USA are manufactured in the USA – and strong position in the refurbishment business, Sika outperformed the market. Latin America also contributed to the positive trend in the region with solid growth. Sales in the Asia/Pacific region rose by 2.4% in local currencies (previous year: 14.7%). Despite government support measures, the Chinese construction market remains markedly negative. This is reflected particularly in Sika's declining project business and, to some extent, in its distribution business. By contrast, Southeast Asia picked up momentum over the course of 2024 and achieved high single-digit organic growth. In the automotive and industry business, Sika continued to increase the share of its technologies in vehicles of local and international manufacturers in China, Japan, and India. DIVIDEND INCREASE AND NEW APPOINTMENT TO THE BOARD OF DIRECTORSIn view of the good results, at the Annual General Meeting to be held on March 25, 2025, the Board of Directors will be proposing to shareholders that the gross dividend per share be increased from CHF 3.30 to CHF 3.60 (+9.1%). Half of the payment is to be distributed from the reserves from capital contribution. Sika has increased its dividend at a double-digit average annual rate for the last 25 years. At the Annual General Meeting on March 25, 2025, Kwok Wang Ng will be nominated for election to the Board of Directors. Monika Ribar, who has been a member of the Board of Directors since 2011, will not be standing for re-election. OUTLOOK Sika is confident to successfully continue to execute on its strategy and deliver sustainable, profitable growth in a slowly recovering economic environment. Sika is confirming its 2028 strategic mid-term targets for sustainable, profitable growth. For the 2025 fiscal year, Sika is expecting sales growth in local currencies of 3-6%. The company expects a further over-proportional increase in EBITDA and an expansion of the EBITDA margin to 19.5%-19.8%.KEY FIGURES 2024 in CHF mn as % ofnet sales 2023 as % ofnet sales 2024 Δ in % Net sales 11,238.6 11,763.1 +4.7 Gross result 53.6 6,024.8 54.5 6,416.0 +6.5 Operating profit beforedepreciation (EBITDA) 18.2 2,044.7 19.3 2,269.5 +11.0 Operating profit (EBIT) 13.8 1,549.1 14.6 1,713.9 +10.6 Net profit 9.5 1,062.6 10.6 1,247.6 +17.4 Net profit per share (EPS) in CHF1 6.82 7.76 +13.8 Operating free cash flow 12.8 1,441.5 11.9 1,402.9 -2.7 Balance sheet total 15,049.2 15,977.2 +6.2 Shareholders' equity 5,933.2 7,046.8 Equity ratio in % 39.4 44.1 Net working capital 19.1 2,145.6 19.7 2,311.6 ROCE in % 16.3 14.2 Number of employees 33,547 34,476 +2.8 1 undiluted The Annual Report and the media conference/analyst presentation on the 2024 financial year can be downloaded at Link to Annual Report: Link to live transmission of the media, investor, and analyst presentation of February 21, 2025, 10.00 a.m. (CET): FINANCIAL CALENDAR 57th Annual General Meeting Net sales first quarter 2025 Half-Year Report 2025 Capital Markets Day Results first nine months 2025 Net sales 2025 Media conference/analyst presentation on 2025 full-year results Tuesday, March 25, 2025Tuesday, April 15, 2025Tuesday, July 29, 2025 Tuesday, October 7, 2025Friday, October 24, 2025Tuesday, January 13, 2026Friday, February 20, 2026 SIKA AG CORPORATE PROFILESika is a specialty chemicals company with a globally leading position in the development and production of systems and products for bonding, sealing, damping, reinforcing, and protection in the building sector and industrial manufacturing. Sika has subsidiaries in 102 countries around the world and, in over 400 factories, produces innovative technologies for customers worldwide. In doing so, it plays a crucial role in enabling the transformation of the construction and transportation sector toward greater environmental compatibility. With more than 34,000 employees, the company generated sales of CHF 11.76 billion in 2024. CONTACTDominik SlappnigCorporate Communications &Investor Relations+41 58 436 68 The media release can be downloaded from the following link:Media Release Sign in to access your portfolio
