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REAL ESTATE-
Nakheel awards Palm Jebel Ali infrastructure contracts to DBB, Khansaheb: Dubai state-owned real estate firm Nakheel awarded two construction contracts to DBB Contracting and Khansaheb Civil Engineering for the development of Palm Jebel Ali’s infrastructure, according to a statement from Dubai Media Office. DBB Contracting was awarded a contract for the construction of a 6km public access road leading directly to the luxury real estate development from the Sheikh Zayed Road and a road serving the central portion of the palm, while Khansaheb will be in charge of the roadway and lighting enhancements for Al Hesah Street at Dubai Waterfront, the main road connecting to Palm Jebel Ali.
LOGISTICS-
Dubai-basedDP World and the Saudi Ports Authority (Mawani) have brokenground on a SAR 900 mn (USD 250 mn) logistics park at Jeddah Islamic Port, according to a Dubai Media Office (DMO) statement. The new storage and distribution hub, which is set to boost trade volumes in Saudi Arabia and the region, and will become Saudi’s largest logistics park, is set to open in 2Q 2025. The project will be developed in two phases, according to the statement.
Jeddah Logistics Park is being developed under a 30-year concession worth SAR 500 mn (USD 133.33 mn) granted to DP World by Mawani in 2022, according to an earlier release. Mawani and DP World are partnering on another 30-year concession for DP World at the South Container Terminal. These two projects represent a total investment of almost SAR 4 bn (USD 1 bn), according to the statement.
SUSTAINABILITY-
#1- AD Ports launches Maritime Sustainability Research Center: AD Ports Group has launched its not-for-profit Maritime Sustainability Research Center in Abu Dhabi, to be operated and managed by Abu Dhabi Maritime Academy and located on its grounds, according to a statement from Friday. The center will be dedicated to research, seeking funding, supporting graduate study programs, and sharing knowledge amongst stakeholders in the fields of the marine environment and sustainability, artificial intelligence and robotics, maritime cyber security, big data, and maritime policies and laws.
#2- Ruler of Sharjah Sheikh Sultan bin Muhammad Al Qasimi approved the UAE’s first Aquaculture Farm in Khorfakkan in partnership with the University of Khorfakkan, Wam writes.
BANKING-
#1- Moody’s has affirmed Emirates NBD’s long-term deposit and unsecured ratings at A2, and upgraded its outlook to positive, Al Bayan writes. The credit rating agency affirmed the lender’s baseline credit assessment at baa3, with short-term deposit ratings remaining at P-1. Sukuk programs were also affirmed, and senior unsecured foreign currency at (P)A2.
#2- DMCC firms can now open Al Maryah bank accounts more easily: Al Maryah Community Bank and Dubai’s Multi Commodities Centre (DMCC) partnered to make it easier for businesses in the DMCC to open accounts through the bank’s integrated digital platform, Mbank, Wam reports. DMCC firms can now open accounts digitally in six steps within 48 hours, with no minimum balance or monthly fees. The platform provides a variety of banking solutions, such as current and savings accounts, online and mobile banking, WPS, overdrafts, loans, and trade finance.
LEGISLATION-
The Dubai International Financial Centre Courts signed a cooperation agreement with Hong Kong’s Law Society during a Hong Kong delegation visit to Dubai, Wam reports. The agreement marks the “first agreement of its kind between The Law Society of Hong Kong and a Middle East courts system,” according to The Law Society of Hong Kong President C. M. Chan.
HEALTHCARE-
The Healthy Cities programme in Sharjah could expand to include Khorfakkan, Kalba, and Al Dhaid, following a recent meeting of the Executive Committee for Expanding the Scope of Healthy Cities, Gulf News reports. The Healthy Cities program assesses city governments’ efforts to improve public health, considering factors like disease prevalence, socioeconomics, lifestyle, environment, and healthcare utilization.
MEDIA-
#1- UAE and GCC to ramp up media cooperation: The National Media Office and UAE Media Council Chairman Sheikh Abdulla bin Mohammed bin Butti Al Hamed met with Gulf Cooperation Council (GCC) Information Ministers on Friday to discuss advancing cooperation between media institutions, focusing on sustainable coordination, Wam reports.
#2- National Media Office chairman Abdulla bin Butti Al Hamed discussed with Chinese National Radio and Television Administration minister Zhu Yonglei boosting media cooperation between the two countries, Wam reports. The two officials also explored the prospects of establishing a media partnership.
TRANSPORT-
RTA App gets an upgrade: Dubai’s Roads and Transport Authority (RTA) released a new version of its RTA app, featuring a personalized dashboard with quick actions for essential services such as license renewals and purchasing parking tickets, according to a statement. The upgraded version also allows customers to make Salik online payments, voucher top-ups, and NOL top-ups directly within the app.
EDUCATION-
Abu Dhabi inaugurates new ACS campus: Tolerance and Coexistence Minister Sheikh Nahyan bin Mubarak Al Nahyan inaugurated the American Community School of Abu Dhabi in Saadiyat Island’s new campus, according to the Abu Dhabi Media Office.
