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ENVIRONMENT-
URB reveals plans for world’s largest coastal regeneration project in Dubai: UAE-based developer URB has revealed the designs for its Dubai Mangroves project, an initiative that aims to regenerate 72 km of coastline by planting over 100 mn mangrove trees, according to its website. The plans, which involve building a nature reserve conservation center, as well as leisure and social infrastructure, are currently at the research stage, with six pilot design studies proposed across specific areas: Jebel Ali Beach, Dubai Marina Beach, Jumeirah Public Beach, Umm Suqeim Beach, Mercato Beach, and Dubai Islands Beach.
Environmental benefits: The mangrove trees will sequester carbon, protect coastlines, and support marine life and food security. With each tree capable of absorbing 12.3 kg of carbon dioxide annually, the project as a whole should sequester 1.23 mn tons a year, which is equivalent to removing emissions from over 260k gasoline-powered vehicles.
VENTURE CAPITAL-
Constructor Capital sets up shop in Abu Dhabi: Deeptech venture capital fund Constructor Capital has set up an office in Abu Dhabi, according to the Abu Dhabi SME Hub. The fund focuses on early stage startups in deep tech, B2B software-as-a-service (SaaS), and edtech, and has offices in Singapore, Switzerland, and Germany. The fund has already invested in a few MENA startups, with significant stakes in quantum technology company QuEra, Egypt’s Nexford University and ALGooru. It has inaugurated over ten companies in the B2B SaaS/cloud sector.
ECONOMY-
A UAE delegation in Egypt led discussions on establishing a regional asset recovery network to fight financial crime, Wam reports. The meeting endorsed the UAE’s proposal to establish the founding team and operational procedures for the network.
REAL ESTATE-
#1-One Za’abeel leases office space in Dubai: Dubai’s One Za’abeel twin-tower development is handing out five and six-year leases for blue-chip tenants, as well as shorter lease durations of one or two years with fit-outs and bespoke requirements, Gulf News reports. The development is also offering dual licensing options, allowing operations with both freezone and mainland credentials. Leasing is being handled by CBRE and JLL.
About One Za’abeel: Owned by Ithara, the development hosts some 300k sqft of leasable office space, in addition to residences, hotels, retail, and F&B options.
#2- Luxury real estate developer Amali Properties has unveiled its first beachfront community, Amali Island, which includes 24 ultra-luxurious beachfront villas on Dubai’s World Islands, Trade Arabia reports.
#3- UAE developer Horizon Egypt eyes the North Coast to set up tourism complex: Real estate developer Horizon Egypt Developments — headed by Sheikh Majid Al Nuaimi, chairman of the ruler’s court of Ajman — is reportedly looking to buy 180 acres land on the North Coast to build an integrated tourism complex, writes Shorouk News, citing sources it said are in the know. The sources added that there are other property developers looking to get the land to set up similar projects.
INVESTMENT-
Turkish grocery delivery firm Getir has secured new funding from Abu Dhabi wealth fund Mubadala and Swiss venture capital fund manager G Squared, after pulling out of Europe and the US to refocus on Turkey due to a post-pandemic slowdown, Reuters reports, without providing an exact ticket size. The company’s rapid expansion during the pandemic led to a USD 12 bn valuation, but margins dwindled as post-pandemic physical shopping resumed.
BIOPHARMA-
Khalifa University of Science and Technology, Mubadala, and Kelix Bio have teamed up to explore new technologies in fields such as oncology, metabolic disorders, and rare diseases, according to a press release. The partnership involves research, development, and commercialization of biopharma products.
NBFS-
Payment solutions provider Magnati partnered with Adnoc Distribution to provide their point-of-sale terminals to all Adnoc service stations and Adnoc Oasis stores, Wam reports. The new payment terminals now handle all transactions, including fuel, non-fuel purchases, and additional services.
SPORTS-
Ski Dubai prepares UAE national team for 2026 Winter Olympics: The UAE Winter Sports Federation and Ski Dubai, under Majid Al Futtaim Entertainment, have signed an MoU to support the UAE National Team’s preparations for the 2026 Winter Olympics in Cortina, Italy, Wam reports. Ski Dubai will provide resources including training camps to prepare the team for the event.
