Air Arabia Abu Dhabi to launch Chennai flights
Air Arabia Abu Dhabi, a low-cost carrier based in the UAE capital, will introduce a new service to Chennai in India from April 27. Adel Al Ali, Group CEO, Air Arabia, said the new service between Abu Dhabi and Chennai allows travellers to explore the city’s rich history. “The addition of this new route falls […]
Ajman Chamber membership tops 58,000 during 2021
Ajman Chamber of Commerce and Industry (ACCI) witnessed growth in the total number of registered members during 2021, as the total number of members reached 58,038 members, compared to 36,000 during 2020, with a growth rate of 7 percent. Commercial licenses were issued during 2021, with a total of 21,077 memberships, followed by professional memberships […]
Mubadala names new CEO for Abu Dhabi Investment Council
Mubadala Investment Company has appointed Mohamed Ali Al Dhaheri as the next CEO of its portfolio company, Abu Dhabi Investment Council (ADIC) replacing Eissa Al Suwaidi, who retires in June. Al Dhaheri is currently the Deputy CEO of the council. Al Suwaidi retires after 40 years of service to Abu Dhabi’s major financial institutions. He […]
Dubai office rents start to rise as employees return from remote work
The cost of renting an office space in Dubai is starting to rise as employees return from remote work, with rents in some locations now recovering to 2019 levels, according to a new report. Five out of 27 locations tracked in Dubai have seen office rents return to levels prior to the COVID-19 pandemic, real […]
Consortium including SNC-Lavalin wins advisory contract for ADNOC project
SNC-Lavalin has been awarded an advisory and engineering services contract to support Abu Dhabi National Oil Company’s (ADNOC) offshore operations power project. SNC-Lavalin will team up with Korea Electric Power Corporation (KEPCO), Japan’s Kyushu Electric Power Company, and Électricité de France (EDF) to carry out the operation project. Under the four-year contract, the consortium will […]
Abu Dhabi’s National Petroleum Construction wins $98mln deal for wind farm project
UAE-based National Petroleum Construction Company (NPCC), a subsidiary of National Marine Dredging Company (NMDC), has secured a deal worth 363 million dirhams ($98.8 million) for a wind farm project, according to a disclosure on Monday. The contract, awarded by Yunneng Wind Power Co. Ltd, is for the installation of monopiles for wind turbine structures in […]
Expo 2020 Dubai crowned past 50 years, signalled promising future: Nahyan bin Mubarak
Sheikh Nahyan bin Mubarak Al Nahyan, Minister of Tolerance and Coexistence and Commissioner-General of Expo 2020 Dubai, has said that Expo 2020 Dubai offered hope to the entire world for a better future, especially amidst the COVID-19 pandemic. In an interview with the Emirates News Agency (WAM), Sheikh Nahyan stressed that the UAE’s hosting of […]
CBRE advises Aldar on Rixos Bab Al Bahr transaction in RAK
Global real estate advisor CBRE has provided valuation and technical due diligence advisory services to leading Abu Dhabi developer Aldar Properties on the purchase of Rixos Bab Al Bahr for $210 million. An upper upscale resort located on Al Marjan Island, Ras Al Khaimah, the 715-key Rixos Bab Al Bahr has been operational since 2014 […]
Dubai’s RTA endorses five-year sustainability plan
Dubai’s Roads and Transport Authority (RTA) has endorsed a five-year sustainability plan for 2021-2025 as part of its strategic goals and objectives aimed at supporting sustainability. Such projects are based on the environmental, societal and economic drivers of sustainability. The step is taken as part of RTA’s efforts to improve maturity levels of sustainability and […]
UAE: Commercial rents return to pre-Covid level in Dubai and Abu Dhabi
Office rents in Dubai and Abu Dhabi have begun to recover to pre-Covid-19 levels as demand for prime space intensifies. According to global real estate consultancy Knight Frank’s analysis released on Monday, five out of 27 locations in Dubai have seen office rents return to pre-pandemic rates. While in Abu Dhabi, the city’s best buildings […]