Alpha Dhabi posts double digit growth for Q3 results
Alpha Dhabi Holding (Alpha Dhabi), one of the fastest-growing investment holding companies in the MENA region, listed on the Abu Dhabi Securities Exchange, announced its financial results for the period ending September 30. Alpha Dhabi reported robust financial results, with a noteworthy 29 per cent year-on-year increase in net profit, surging to Dhs11.6bn, as compared […]
Dubai’s TECOM expands property portfolio with new $120mln investment
Dubai-listed business park operator TECOM Group is expanding its commercial real estate portfolio with an investment of AED 442 million ($120 million). The company said on Monday it has just broken ground on the second phase of Innovation Hub, which features specialiised tech offices at Dubai Internet City, amid high demand for commercial space in […]
Star Paper Mill to set up $54mln recycled paper mill in Abu Dhabi
A new recycled paper mill will be established in Khalifa Economic Zones Abu Dhabi (KEZAD) in a move to support the UAE circular economy. The mill will manufacture eco-friendly biodegradable recycled kraft papers in Abu Dhabi after an agreement between Star Paper Mill and RC Paper Machines, which will expand its existing capacity with an […]
UAE, Cameroon explore opportunities in renewable energy, infrastructure and logistics
YAOUNDÉ, Cameroon – Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, has led an Emirati delegation of business, investment, and development leaders to Cameroon to explore opportunities and strengthen UAE-Cameroon ties. The delegation included Mohammed Ali Al Shorafa, Chairman of the Abu Dhabi Department of Economic Development, and a number of […]
Marriott to open 4 properties in UAE in deal with RDK tourism
Marriott International has signed a deal with RDK Tourism Investment to open four properties in the United Arab Emirates (UAE). The signings are expected to further enhance the company’s footprint in Abu Dhabi and Dubai with the addition of more than 700 rooms across its Marriott Hotels and Resorts, Marriott Executive Apartments and Autograph Collection […]
Abu Dhabi group to set up major wastewater plant in Uzbekistan
Abu Dhabi Sewerage Services Company (ADSSC) said it has signed an exclusive agreement with Uzsuvtaminot, a key player in improving the management of water resources in Uzbekistan, to develop a wastewater treatment plant in the country’s capital, Tashkent. With an estimated capacity of 1.5 million cubic metres a day, enough to serve over 2.3 million […]
Kuwait-backed Wafra raises $1.5bln for stakes in fund managers
Wafra Inc, an investment firm backed by Kuwait’s public pension fund, said on Monday it has raised $1.5 billion for its fourth flagship fund that will acquire minority stakes in alternative asset managers such as private equity firms. The new fund, Capital Generation IV, will seek to acquire minority stakes in “lower middle-market” […]
Abu Dhabi’s Mubadala acquires stake in Germany’s Skyborn Renewables
Abu Dhabi’s strategic investor Mubadala Investment Co. has acquired a stake in Skyborn Renewables, alongside Global Infrastructure Partners (GIP). The acquisition of a 100% interest in Skyborn Renewables provides Mubadala and GIP “with access to the largest private offshore wind developer globally with a long track record of development and an established presence in Europe […]
Abu Dhabi cloud kitchen start-up The Cloud raises $10mln
UAE-based cloud kitchen start-up, The Cloud, has secured $10 million in a new funding round led by a consortium of venture investors. The Cloud is a B2B2C kitchen platform where food businesses can leverage their excess capacity by hosting third party restaurants. The investment, led by Middle East Venture Partners (MEVP) and Olayan Financing Company, […]
Alpha Dhabi to invest $2.5bln in Alpha Wave Ventures II Fund
Alpha Dhabi Holding, an Abu Dhabi-based investment holding company, will invest 9.2 billion dirhams ($2.5 billion) in a venture fund launched at the beginning of the year, thus becoming its cornerstone investor. Alpha Wave Ventures II is a $10 billion fund co-managed by Chimera Capital, an Abu Dhabi investment fund, along with US alternative asset […]