Latest news with #WAMDubai
Gulf Business
05-05-2025
- Business
- Gulf Business
Dubai: RTA reports 16% rise in 2024 digital revenues, boosted by AI-driven services
Image courtesy: WAM Dubai's Roads and Transport Authority (RTA) recorded a 16 per cent increase in digital revenues in 2024, reaching Dhs4.427bn, driven by rising digital transactions and the adoption of artificial intelligence across services, the authority said in a statement. The total number of transactions through digital channels hit 679.6 million, including 13.4 million via smart applications. App downloads grew by 18 per cent to 3.742 million, while registered users surged 27.5 per cent to 1.94 million. Parking ticket issuance through apps rose by 24 per cent to 29.973 million. RTA has achieved a 16% growth in digital revenues for 2024, reaching AED 4.427 billion compared to the previous year. The total number of transactions across digital channels has reached 679.6 million, including 13.4 million transactions through RTA's smart applications. App… — RTA (@rta_dubai) Director-general and chairman of the board of RTA, Mattar Al Tayer said the growth underscores the authority's commitment to advancing Dubai's digital transformation and improving customer experience, with satisfaction levels across digital channels reaching 96 per cent. He added that AI is now central to RTA operations, including traffic management and self-driving mobility. RTA launched 33 services last year on its app In 2024, more than 33 services were launched on RTA's unified app, and the S'hail app saw nine upgrades, leading to a 39 per cent increase in transactions. Website enhancements, including a revamped Mahboub chatbot powered by generative AI, contributed to a 12.5 per cent rise in web-based transactions. The
Gulf Business
24-04-2025
- Business
- Gulf Business
Dubai property is booming: What every investor should know
Image credit: WAM Dubai's real estate market continues to thrive, demonstrating remarkable resilience and growth in the first quarter of 2025. The Read- While apartments remained a significant segment, the villa market emerged as a standout performer, with transactions soaring by 65 per cent and value up by 56 per cent. Off-plan sales continue to drive market activity, accounting for 59 per cent of all transactions. However, a notable shift is emerging, with rising interest in completed, ready-to-occupy luxury units. These are just some of the key insights from the comprehensive Betterhomes Q1 2025 Dubai Real Estate Market Report. Meanwhile, Q1 insights from Dubai achieving historic highs Dubai recorded historic highs in both the number and value of transactions, marking its strongest first-quarter performance in over a decade. The city registered 45,474 transactions worth Dhs142.7bn, reflecting a 22 per cent increase in volume and a 30 per cent increase in value compared to the same period in 2024. This surge was primarily driven by record activity in off-plan sales and existing property transactions. Off-plan sales Off-plan sales accounted for 56 per cent of all transactions in Dubai, rising to 25,440 transactions—a 24 per cent year-on-year increase—with a value of Dhs55.2bn, up from Dhs44.5bn in Q1 2024. The ready market also delivered a breakout performance, with 20,034 transactions worth Dhs87.5bn, marking a 21 per cent increase in volume and a 34 per cent surge in value. These are the highest-ever quarterly results for this segment. Dubai's numbers reflect sustained demand from both end-users and investors, likely supported by a growing shift from renting to owning, as rising rental prices increasingly encourage residents to explore homeownership. Meanwhile, Abu Dhabi saw a surge in the ready property market, posting a 9 per cent increase in volume and a 75 per cent rise in value, driven by large commercial deals and growing demand for completed homes. Residential-ready transactions rose by 5 per cent in volume and 33 per cent in value, signalling buyer preference for move-in-ready options. Dubai property market: Key insights Off-plan market Dubai Dubai's real estate market remains one of the top-performing globally, with Q1 2025 witnessing a significant surge in total sales transactions. The 45,474 transactions marked a 22 per cent year-on-year increase, with total value rising by 30 per cent to Dhs142.7bn—the highest volume for any first quarter on record. In Q1 2025, Dubai's off-plan market recorded its strongest first-quarter performance in a decade, accounting for 56 per cent of the total transaction volume. Off-plan transactions reached 25,440, up from 20,557 in Q1 2024—a 24 per cent year-on-year increase—driven by growing long-term confidence among medium- and long-term investors. The value of the off-plan segment also saw robust growth, with a 24 per cent year-on-year increase to Dhs55.2bn, compared to Dhs44.5bn in Q1 2024. This represented 39 per cent of the total transaction value in Q1 2025, underlining the ongoing appeal of Dubai's future development pipeline. Abu Dhabi Abu Dhabi's real estate market registered approximately 2,496 transactions in Q1 2025, with a total value of Dhs9.6bn. The off-plan market recorded approximately 1,332 sales transactions, valued at Dhs4.9bn. Existing/ready property market Dubai A new quarterly record was set, surpassing the average quarterly volume and value of 2024. Volume exceeded the 2024 average by 12 per cent, and value rose by 19 per cent—affirming the market's ongoing momentum into 2025. Existing property transactions rose by 21 per cent year-on-year, with approximately 20,034 transactions valued at Dhs87.5bn. This marks a 34 per cent increase in value compared to Dhs65.3bn in Q1 2024. Ready property transactions made up nearly half (44 per cent) of the total sales transaction volume. Abu Dhabi The existing/ready market in Abu Dhabi recorded 1,164 transactions in Q1 2025, representing around 47 per cent of total transactions—up from 1,066 transactions in Q1 2024. These transactions contributed to 49 per cent of the total transaction value, reflecting a 9 per cent increase in volume and a substantial 75 per cent rise in value compared to the same period last year. Residential transactions accounted for 88 per cent of the total existing market volume and 60 per cent of the total value in Q1 2025. Compared to Q1 2024, residential-ready transactions increased by 5 per cent in volume and 33 per cent in value, indicating sustained demand for completed properties.
Gulf Business
10-04-2025
- Automotive
- Gulf Business
Dubai's RTA adopts new technology for road assessment
Image credit: WAM Dubai's Roads and Transport Authority (RTA) has adopted the latest LiDAR (Light Detection and Ranging) technology to assess the condition of roads and enhance the accuracy of data used in digital twin platforms. Read- This initiative supports the development of preventive, predictive, and proactive maintenance strategies, while underscoring RTA's continued efforts to integrate advanced smart technologies into the management and maintenance of road assets. These efforts ensure the sustainability of the road network and reinforce traffic safety across Dubai. LiDAR Technology: Functions and advantages 'LiDAR technology provides a remarkable boost in performance and speed, delivering up to 300 per cent improvements compared to traditional visual inspections. This advancement reflects RTA's commitment to accelerating digital transformation and leveraging cutting-edge technologies to enhance the quality of Dubai's road infrastructure, while ensuring its efficiency, resilience, and long-term sustainability. The initiative aligns with the leadership's vision of positioning Dubai as a smart and sustainable global city,' said Hussain Al Banna, CEO of the Traffic and Roads Agency at LiDAR offers superior accuracy and speed in evaluating road assets, delivering up to 95 per cent accuracy compared to conventional methods. It also contributes to the enhancement of data quality, facilitating more informed and efficient maintenance decisions. 'The technology also enables safe and efficient inspection of elevated assets along highways and major roads, such as lighting poles, traffic signals, and road signs, thereby improving road safety and reducing risks associated with manual inspections,' Al Banna added. How does the technology assess roads? LiDAR enables the daily assessment of up to 80 km of roads, representing a 96 per cent improvement over traditional methods, which typically cover only 3 km. This capability ensures continuous monitoring of asset conditions and regular updates to data records. Assessments can be carried out while in motion at speeds ranging from 30 to 100 km/hr, without disrupting traffic flow. With a sensing range of up to 80 meters, the technology ensures comprehensive coverage of various road assets. This advanced technology delivers highly accurate data and detailed analysis of asset conditions, supporting the long-term sustainability of the Asset Condition Index (ACI). It enables precise scheduling of maintenance activities, particularly predictive maintenance, and helps prioritise interventions based on clearly defined strategic criteria. Ultimately, this approach reinforces the sustainability and operational efficiency of Dubai's road infrastructure.
Gulf News
12-03-2025
- Business
- Gulf News
Emirates Global Aluminium's 2024 profit at Dh2.6b - maintains dividend at Dh3.7b
2025 forecasts for aluminium will reflect 'global trade tensions' over US tariffs Last updated: March 12, 2025 | 10:15 2 MIN READ On the EBITDA growth part, EGA made gains from higher aluminium and bauxite prices in 2024. WAM Dubai: One of the world's biggest manufacturers in its category, Emirates Global Aluminium recorded net profits of Dh2.6 billion for 2024, from Dh3.4 billion a year ago. The company confirmed it will maintain dividends at Dh3.7 billion ($1 billion) for a second consecutive year. When it comes to the adjusted EBITDA, the UAE entity turned in a higher number for 2024, of Dh9.2 billion, up from Dh7.7 billion helper by higher realised all-in aluminium and bauxite prices and record production of alumina and aluminium. (This was to an extent offset by higher alumina prices and lower bauxite production.) The EGA 2024 results come just as the global aluminium industry is trying to come to terms with the US hiking tariffs on the commodity's imports into the country. Also Read: Trump extends trade fight as steel, aluminum tariffs kick in Early forecasts for 2025 The 'volatility' in aluminium prices is expected to continue due to 'tensions in global trade', while 'the global balance for aluminium is expected to be a 0.5 million tonnes deficit in 2025'. This will be 'supporting prices going forward'. The alumina markets are expected to normalise as more capacity is expected to come online in 2025, says EGA. The benchmark London Metal Exchange aluminium price was higher in 2024 - $2,392 vs $2,264 the year before. Geopolitical tensions exerted their influence on price movements, and so did energy price fluctuations, as well as speculation on interest rate cuts. EGA's US interests The UAE manufacturer has over the recent past expanded its direct interests in the US market through buying 80% in Spectro Alloys in Minnesota. "With acquisitions in Germany and the United States, and progress developing the UAE's largest recycling plant, by the end of 2024 we had 140,000 tonnes of secondary production capacity on an annualised basis, with a further 225,000 tonnes of secondary capacity under construction,' said Abdulnasser Bin Kalban, CEO of EGA. Spectro Alloys produced 25,400 tonnes of secondary aluminium from the EGA acquisition in September to year-end. It is adding 55,000 tonnes of annual secondary billet capacity in the first phase. New Taweelah facility EGA is building what will be 'the UAE's largest aluminium recycling facility', in Al Taweelah, with a production capacity of 170,000 tonnes of secondary billet per year. Construction completion is currently 37%, with the first hot metal expected during H1-2026. How did aluminium prices fare in 2024 That depends on the region. "Regional premiums were volatile in 2024, and on average were higher than 2023 in Japan and in Europe, and lower in the US," says EGA. "Alumina prices were also higher, on operational issues in Australia and India and supply constraints in the bauxite market including from EGA's Guinea Alumina Corporation." Sign up for the Daily Briefing Get the latest news and updates straight to your inbox
