Samana’s 202-unit Dubai residential project set for handover

UAE-based Samana Developers has announced that work was nearing completion on its first residential project in Dubai, Samana Hills – featuring 202 apartments with a mix of studios and one-bedroom units – and was on track for handover this month. The Emirati developer said the AED110 million ($30 million) Samana Hills, launched in 2019, was […]

UAE: Sustainability at the heart of Etihad Rail network

By taking proactive steps, Etihad Rail and Environment Agency — Abu Dhabi (EAD) have been ensuring the highest sustainability standards in the construction of the UAE national rail network, a top official said. Marking the World Environment Day, Khuloud Al Mazrouei, deputy project manager at Etihad Rail, said that the partnership with EAD has resulted […]

EFG Hermes plays key role in Borouge’s $2bln ADX listing

EFG Hermes, a leading investment bank franchise in Frontier Emerging Markets (FEM), has announced that its investment banking division successfully concluded its role as joint bookrunner on Borouge’s $2 billion initial public offering (IPO) on the Abu Dhabi Securities Exchange (ADX). The transaction marks the largest-ever listing in Abu Dhabi’s history since Adnoc Drilling’s $1.1 […]

Abu Dhabi expo, meetings sector stages strong comeback

  Abu Dhabi’s events sector witnessed a strong and lively comeback in May as the Abu Dhabi National Exhibitions centre (Adnec) played host to a number of major international conferences and events. Adnec, the largest exhibition and conference centre in the Middle East and North Africa, hosted 10 major local and international events, including five […]

RTA opens Dubai-Al Ain road following $544mln revamp work

Dubai has announced the official opening of the road linking Al Ain following the completion of revamp work at a total cost of AED2 billion ($544 million). The scope of the Dubai-Al Ain Road Improvement Project spans 17 km from the intersection of Emirates Road to the intersection of Ras Al Khor Road along the […]

Abu Dhabi-listed Fujairah Cement Industries gets nod to withdraw from Boursa Kuwait

UAE-based producer Fujairah Cement Industries is marking its last day of trading on Boursa Kuwait today. The company has already obtained the approval of Capital Market Authority-Kuwait for the voluntary withdrawal of its shares from the Kuwaiti stock market, according to a disclosure on the Abu Dhabi Securities Exchange (ADX). “November 30, 2022 will be […]

Abu Dhabi’s ADNOC Drilling signs deal to acquire two offshore drilling units

ADNOC Drilling, a subsidiary of Abu Dhabi National Oil Company (ADNOC), is acquiring two more premium offshore jack-up drilling units, to boost its oil production capacity and meet growing demand, the company said on Monday. The company has just signed a sale and purchase agreement (SPA) for the drilling unit expansion, which is part of […]

Utico plans share buyback ahead of IPO

  Utico, a UAE’s utility firm, plans a share buyback ahead of its initial public offering (IPO) and stock market listing later this year. The privately-owned firm is in talks with six banks for the IPO and listing. “As part of the IPO preparations, shareholding changes are underway where consolidation is ongoing,” said Richard Menezes, […]

UAE-Egypt-Jordan industrial partnership paves way for ‘unprecedented cooperation’— Shamali

The comprehensive industrial partnership for a sustainable economic development initiative that Jordan, the UAE and Egypt signed on Sunday establishes “unprecedented cooperation” to realise economic integration in various fields, mainly at industry level, Minister of Industry, Trade and Supply Yousef Shamali said on Sunday. In a press statement following the signing ceremony, Shamali said that […]

SAA in bid make new alliances at Air Cargo India

Sharjah International Airport Authority (SAA) will participate in Air Cargo India 2022 – scheduled to be held in Mumbai from May 31 to June 2 to showcase its latest services, strengthen existing partnerships and develop new alliances. This event, which will be held at Grand Hyatt in Mumbai, is one of the most important exhibitions […]