Schneider Electric, a global specialist in energy management and automation, today signed a memorandum of understanding (MoU) with Arab Youth Center to prompt the next generation to lead the path for a sustainable and digital future. The agreement was signed at Schneider Electric’s Innovation Summit Middle East & Africa that took place on 18-19 May at the Coca-Cola Arena Dubai, UAE, under the theme: Digital, the Path to the Sustainable Future. HE Shamma Al Mazrui, the UAE’s Minister of State for Youth and Vice Chair of the Arab Youth Center said: “This cooperation will have a major role in developing…
Author: Kasun Illankoon
In 2022, luxury retailers are likely to continue expanding their global footprints with new store activity in large domestic markets in China, the Middle East and North America, according to Savills recent report on the global luxury retail market. Following on from the spending patterns of the past few years, China is expected to become the world’s largest luxury market by 2025, according to Bain & Company. In recent years, new store activity globally has largely followed the Chinese luxury consumer into destination markets. However, with the pandemic restricting international travel, the firm recorded that 21% of the total luxury goods…
The Sustainability Innovation Awards 2022 is set to take place on June 17th at Sofitel Dubai the Palm. Nominations for the awards are now open. The event is catered to all sectors and industries but we wanted to highlight the categories that dedicated to both the Construction and Energy sector. For the full list of categories and more event details you can visit: https://sustainability-awards.me/ Here are the categories: OVERALL RENEWABLE PROJECT OF THE YEAR SOLAR ENERGY PROJECT OF THE YEAR UTILITIES PROJECT OF THE YEAR TECHNOLOGICAL ENERGY PROJECT OF THE YEAR SUSTAINABLE CONSTRUCTION PROJECT OF THE YEAR SUSTAINABLE REAL…
Sobha Hartland is expecting a considerable increase in the number of residents in 2022, following a rising demand for luxury homes with foreign investors seeking to settle in Dubai. Over 2000 families are currently residing at Sobha Hartland and as many as 3000 residences are expected to be sold by 2022, with the community anticipating to host over 6000 families by 2025. PNC Menon, Chairman of Sobha Group said, “Dubai has always been a beacon of modernity and progress, and Sobha Realty has always worked towards contributing to its growth and development. Through Sobha Hartland, we strive to provide an…
AVEVA, a global leader in industrial software, driving digital transformation and sustainability, has announced that its engineering information management solutions, the core of its digital twin, now deliver greater time and value gains for capital projects and operations. With the seamless integration of AVEVA™ Point Cloud Manager and AVEVA™ Asset Information Management in the cloud, visualizing asset information with real-time data has never been faster or easier. AVEVA customers can now experience a complete digital twin within just 60 days, even in the absence of existing models, thanks to deeper contextualization and enhanced visualization. Two new industry partnerships will further…
Following the conclusion of Expo 2020, 6,983 real estate sales transactions worth AED 18.2 billion were recorded in April, the highest ever for the month since 2009. Secondary market sales transactions, comprising 60% of the total, constituted 4,212 transactions worth AED 12.86 billion, while off-plan properties, comprising the remaining 40%, constituted 2,771 properties worth a total of AED 5.33 billion. Compared to April 2021, April 2022 witnessed 45.48% more transactions, resulting in a 66.62% spike in value. This is broken down into a 46.2% increase in the secondary volume and a 63.86% increase in value, as well as a 44%…
Averda, the leading end-to-end waste management, treatment and recycling company in emerging markets is pleased to announce the appointment of Niteese Lenton as Chief Financial Officer. Niteese brings with her a wealth of relevant experience and knowledge with over 20 years’ financial management experience in the automotive and logistics sectors. She has been Finance Director for Ford Motor Company Middle East & Africa and, more recently, served as Deputy Group CFO at Tristar Transport, an integrated energy logistics company based in Dubai, where she was responsible for the management of the finance team. Niteese holds an MBA in Finance and…
Hira Industries, one among the leading HVAC and construction product manufacturers globally with a strong retail and distribution network, inaugurated a new showroom in Ras Al Khaimah, UAE. This is yet another step to deliver world class experience and solutions to our existing and potential clientele. Hira’s goal is to provide consumers with service that exceeds their expectations, and this new showroom will broaden the company’s product and service offerings to clients and projects. Located in the emirate of Ras Al Khaimah, with proximity to the manufacturing facility owned by Hira Industries LLC, the new showroom will exhibit Hira’s world-leading products and solutions.…
Moody’s Investor Services and Fitch Ratings have assigned Arada first-time credit ratings, which provide a strong foundation for the UAE developer to cement its long-term growth. The successful award of the ratings, just five years since the company’s inception in early 2017, make Arada one of the youngest corporates in the UAE to apply for and achieve a landmark that will enable it to access global capital markets and provide financing for future projects. Moody’s and Fitch, two of the world’s top ratings agencies that evaluate the creditworthiness of sovereign entities and commercial companies using a standardised ratings scale, awarded…
Masdar, a global leader in renewable energy projects, announced today that it has signed an agreement with the UAE-based National Petroleum Construction Company (NPCC), a leading engineering procurement and construction company and a subsidiary of National Marine Dredging Company (NMDC), to explore collaboration in offshore wind, green hydrogen, and other renewable energy technologies. Mohamed Jameel Al Ramahi, Chief Executive Officer of Masdar, and Eng. Ahmed Al Dhaheri, Chief Executive Officer of NPCC, signed the Memorandum of Understanding (MoU) on behalf of their respective organizations, at an event held in Masdar’s head office in Masdar City. The companies will initially focus…