Al Bawani signed an agreement with Lucid Group, Inc., a U.S.-based electric vehicle company with the longest range, fastest charging electric car on the market, to build its first international production plant to manufacture electric vehicles in Saudi Arabia. Eng. Fakher Al Shawaf, CEO of Al Bawani, said: “This is a significant milestone for us at Al Bawani, partnering with Lucid to not only promote a clean and sustainable automotive ecosystem but also demonstrate our willingness and support of economic diversification efforts away from fossil fuel. My sincere appreciation to Lucid for entrusting this opportunity to Al Bawani and for…
Author: Kasun Illankoon
The developer behind two of the world’s most ambitious regenerative tourism projects has confirmed its transformation into Red Sea Global (RSG) on the sidelines of the sixth Future Investment Initiative in Riyadh. The responsible developer, formerly known as The Red Sea Development Company, is currently overseeing the creation of two luxury tourism destinations in the Kingdom. THE RED SEA and AMAALA prioritize delivering a positive impact for people and planet and are on track to place Saudi Arabia firmly on the global tourism map. Following the successful delivery of critical milestones, and with THE RED SEA destination on track to…
The Department of Culture and Tourism – Abu Dhabi (DCT Abu Dhabi) and Miral, Abu Dhabi’s leading creator of immersive destinations and experiences, have announced that the Natural History Museum Abu Dhabi has reached 25% completion, with the UAE-based construction group ALEC having been appointed as the main contractor earlier this year. Located in Saadiyat Cultural District, the Natural History Museum Abu Dhabi is anticipated to be the largest of its kind in the region, allowing visitors to travel on a 14-billion-year journey through time and space – from the earliest origins of our universe to a thought-provoking perspective into…
IHG Hotels & Resorts unveils the opening of the Holiday Inn & Suites Dubai Science Park, a sustainable hotel that operates on no single-use plastic; has an onsite water bottling plant; and features digital amenities in all its guest rooms, suites & apartments. The property is set to open in the last quarter of 2022, the latest addition to the Holiday Inn portfolio in the United Arab Emirates. IHG Hotels & Resorts, one of the world’s leading hotel companies, is fully committed to supporting innovative environmental growth through “Green Engage”, a long-term strategy built upon driving sustainability actions across all…
DUBAL Holding – the investment arm of Dubai Government with focus on Non-Ferrous Metals, Recycling, Energy & Industrial Sectors – and Imdaad, a Dubai-based group of companies that provides integrated, sustainable Facilities Management (FM) services that enhance operational efficiencies of physical assets, signed a Memorandum of Understanding (MoU) to explore and invest in projects aimed at fostering Recycling and Sustainability sector in UAE. Jamal Abdulla Lootah, Group CEO of Imdaad, and Ahmad Hamad Bin Fahad, CEO of DUBAL Holding LLC, signed the agreement at a ceremony held at Dubal Holding office at Dubai Healthcare City on 20 October 2022. Under the…
Leading UAE-based smart and green facilities management (FM) company Farnek, has recently concluded a corporate carbon footprint assessment for UAE-based printer, Oriental Press. Measuring CO2e emissions was the initial phase of the project which involved comprehensive data mapping and categorisation for all of its existing printing operations. These included energy and fuel consumption, purchased materials such as substrates, printing plates, ink, IPA, rubber blanket, packaging materials and auxiliary materials, upstream and downstream transportation, and other supply chain categories. Through cutting-edge software provided by an independent third-party, Farnek was able to calculate Oriental’s CO2e emissions using consumption data and recognised scientific…
Hebashi Holding Group in collaboration with OTI Real Estate company, launched the first real estate investment platform in the Middle East, “VIRTU” which provides an investment opportunity for a wide range of customers and entrepreneurs, allowing partial or joint ownership of a group of properties that would make a real difference in the field of Real-Estate Investments. This project was launched from Dubai the Hub of the Middle East and attractive destination of Entrepreneurs, addressed to all countries in the region and in collaboration with the leading companies locally and regionally, such as Fadox and the Omani based Gulf Real…
With one month to go until the FIFA World Cup Qatar 2022™, Qatar Tourism has revealed new tourism attractions, hotels and resorts that will be open for fans to enjoy during the tournament. This unprecedented year of development represents a major milestone in Qatar’s emergence as a tourist destination, with the country seeking to welcome six million visitors a year by 2030. Chief Operating Officer of Qatar Tourism, Berthold Trenkel, said: “2022 has been an extraordinary year in Qatar with so many major new hotel and tourism openings. From shopping malls to beach clubs, museums to theme parks, there are…
A joint venture (JV) agreement was signed between Injazat, the UAE’s home-grown technology champion in digital transformation, and Nesma Infrastructure and Technology (NIT), a leading provider of high-quality solutions for communication technology, power systems, and energy infrastructures in Saudi, to provide key digital services across Saudi Arabia as the Kingdom undergoes rapid digital transformation. The newly established joint venture, called ‘Nesma Injazat’, will begin operations this month with offices in Riyadh and Jeddah. In the presence of Mansoor Al Mansoori, Chairman of Injazat and Faisal Alturki, Chairman and President of Nesma; Ussama Dahabiyeh, CEO of Injazat, and Salah Al Sunaid,…
Deyaar Development, one of Dubai’s leading property developers and real estate service providers, today announced its reviewed interim unaudited financial results for the first nine months of 2022, ending 30 September 2022. The company reported net profit of AED 36.3 million for the third quarter of the year compared to AED 8.1 million in the same quarter last year. The company also recorded revenues of AED 207.7 million for the third quarter compared to AED 120.7 million for the same period in 2021. For the first nine months of 2022, Deyaar’s net profit amounted to AED 103.2 million compared to…