The Real Estate and Infrastructure arm of Mubadala Investment Company, the Abu Dhabi-based sovereign investor, announced that it will be providing rent-free relief to retail tenants with lease agreements at The Galleria. This is part of Mubadala’s ‘We Are Dedicated’ campaign which aims to provide various economic relief initiatives in response to the economic impact brought on by the COVID-19 virus outbreak in the UAE. Mubadala will provide qualifying tenants at The Galleria tenants with a 3 month rent-free period effective from April through to June 2020. Earlier this month, The Galleria re-opened and welcomed guests after implementing extensive preparedness procedures…
Author: Kasun Illankoon
Construction Business News Middle East presents E-Live in partnership with du: Buyer Confidence in Real Estate, which takes place on May 31st at 2pm on Zoom. Register here: https://bit.ly/3ggcPma Q1 results show an increase in real estate transactions compared to 2019, but is that about to change with the impact of COVID-19? The panelists will discuss in detail the purchasing power of buyers, how developers make their properties more attractive in this market, what tips they would give to buyers who are ready to invest in property, and much more! Speakers include: 1. Alharith Almoosa, Vice Chairman, Falconcity of Wonders…
FedEx Express, a subsidiary of FedEx Corp (NYSE: FDX) and the world’s largest express transportation company, celebrated Ramadan this year by contributing to the 10 million meals campaign launched by Mohammed bin Rashid Al Maktoum Global Initiatives, in collaboration with Social Solidarity Fund Against Covid-19. As part of the contribution, FedEx Express donated 4,000 meals to families and individuals affected by the pandemic in the UAE, through the online fundraising platform, YallaGive. The contribution was made before the campaign concluded on May 15, 2020. As the COVID-19 outbreak evolves, FedEx continues with its relief efforts and commitment to serve, support,…
KPMG recently released its fifth edition of the ‘GCC listed banks’ results’ report, which analyzes the published results of listed commercial banks across the region for the year ended 31 December 2019. The report, titled ‘New Age Banking’, demonstrates that the UAE’s top ten banks reported positive results in 2019, with an average 13.9 percent growth in net profit, the highest among GCC countries, driven by an increase in the overall loan book and inorganic growth. The local banking sector continues to show strength and resilience as top UAE banks reported the region’s highest growth in their asset base of…
Statistics released by the Department of Municipalities and Transport today revealed that the value of real estate transactions in Abu Dhabi has been increased by 34% to reach AED 6.3 billion by the end of last April, through 2617 real estate deals, compared to AED 4.6 billion through 1840 deals during the same period last year. The Department’s data indicated that mortgages acquired 60% of the total real estate transactions in April 2020, it increased by 100% during April 2020 compared to the same period in 2019 up to AED 3.8 billion, which was made through (1170) mortgage transactions, with…
Abu Dhabi Power Corporation (ADPower) hosted, today, an event to recognize the first cohort of trainees from its bespoke Graduate Training Programme (GTP), after their successful completion of the programme’s ‘Workplace Readiness Training’ phase. The trainees now transition into their full-time roles within ADPower’s operating companies, where they will enter the programme’s 12-month ‘On-the-Job Training’ phase to gain deeper hands-on experience. ADPower hosted a virtual event, attended by Jasim Husain Thabet, Chief Executive Officer and Managing Director of ADPower, senior leadership from ADPower’s operating companies, as well as the 92 graduates virtually collecting their completion certificates. Speaking at the event,…
Greater need for agility and resilience in the evolving business landscape during COVID-19 are reshaping the supply and demand in corporate hiring across the UAE and region. Addressing these needs, Contact Centre Agents, Compliance Managers, Partnerships Managers, Customer Service Executives, and Head of Operations are the top five applied-for jobs in the UAE, according to LinkedIn, the world’s largest professional network. While the economic impact of COVID-19 is being felt across various industries in the UAE, these roles have seen the highest percentage increase in job applications between March and April 2020. To help people looking for a job, LinkedIn…
Emirates has unveiled multi-faceted measures for employee and customer care at every step of the travel journey, redefining safety and hygiene standards on board and on the ground. The new measures took effect today, with the resumption of regularly scheduled passenger flights to nine destinations. “Emirates is implementing a comprehensive set of measures at every step of the traveller’s journey, to enhance the sanitisation of all touchpoints, and ensure the health and safety of our customers and employees. The risk of catching an infection on an aircraft is already very low, but we have spared no effort in reviewing and…
Abu Dhabi Waste Management Center (Tadweer) announced the operation of three mobile medical waste incinerators in Abu Dhabi to support the precautionary measures taken by various healthcare entities to prevent the spread of Novel Coronavirus (COVID-19) outbreak. The incinerators are operated at Al Mafraq Hospital and the recently launched field hospitals in Abu Dhabi including the field hospital at Abu Dhabi National Exhibition Centre (ADNEC) and the Emirates Field Hospital in Mohammed Bin Zayed City. With capacity ranging from 150 kg to 300 kg per hour, the new facilities can treat medical waste at temperatures of up to 1200 degrees,…
Metito, the global leader of smart water management and alternative energy solutions, has been awarded by Absolute Clean Energy PLC (ACE), Thailand’s biggest producer of renewable energy power, its latest contract to conceptualise and execute a comprehensive water treatment program for 10 biomass powerplants in 10 different locations in Thailand. The partnership marks a company-first with Metito covering an extensive scope of work for biomass powerplants. This is in line with Metito’s global expansion plan that comprises the expansion of its Chemicals business line to include renewable projects and advanced applications in Thailand and the wider ASEAN region. Metito’s scope…