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CONSTRUCTION-
Abu Dhabi hands out contracts for largest student accommodation PPP project: The Abu Dhabi Investment Office and Khalifa University of Science and Technology awarded a student accommodation project to KUnnected Living, a consortium led by construction firms Plenary Group, Besix and Abu Dhabi-based investor Mazrui International, according to the Abu Dhabi Media Office. The project is the largest student accommodation project in the GCC developed under a public-private partnership (PPP) model.
About the project: Under the 23-year concession, the consortium will design, build, finance, and maintain over 3.2k technology-enabled student rooms and communal facilities at Khalifa University’s main campus and Sas Al Nakhl campus. The project is part of Khalifa University’s broader 10-year strategic plan to ramp up its educational and residential offerings.
AVIATION-
Mubadala-owned Sanad will exclusively service Air Mauritius’ Airbus A330 engines for three years under a partnership agreement inked between the aerospace engineering firm and the airline at the Farnborough International Airshow, Wam reports. The agreement will see Sanad provide maintenance, repair, and overhaul services for the fleet, which uses Rolls Royce Trent 700 engines.
CUSTOMS-
Dubai-based developers can now build AI-powered systems for customs and logistics sectors, courtesy of the new Dubai Customs AI Platform, an open source platform of AI models launched by the Ports, Customs, and Free Zone Corporation, according to the Dubai Media Office. The platform offers tools and integrated programs — focusing on supply chains, risk analysis, and more — for companies without AI systems, in a bid to improve commercial and logistics supply chains using AI. It also spotlights startups and global AI companies’ technological innovations in the customs and logistics sectors, and allows them to swap expertise and ideas on the platform.
MANUFACTURING-
EGA automates metal analysis certification: Mubadala-backed Emirates Global Aluminium has digitally linked its metal quality analysis system to the London Metal Exchange’s (LME) digital credentials register, LMEpassport, becoming the first LME-listed brand to automate the issuance of certificates of analysis for metals shipped to and from its warehouses, according to a statement. The exchange has required all aluminum manufacturers to have a digital record of its certificates of analysis as of October.
FINANCE-
#1- The UAE now has a “family office as a service” player — dubbed Octagon — offering services like asset management and business development through an outsourcing model, according to a press release (pdf). The company has already made a soft launch for its product several months ago, with operations spanning across Europe, Asia, North and South America, and Southern Africa.
#2- The General Pension and Social Authority will team up with the Abu Dhabi Global Market Academy to offer financial advice and training to Emiratis, focusing on investment and asset management, Wam reports.
CRYPTO-
Roma to offer crypto brokerage services in Dubai: Digital asset platform Roma received an operational virtual asset service provider (VASP) license from Dubai’s Virtual Assets Regulatory Authority, according to a press release. The VASP license permits Roma to offer virtual asset trading, brokerage, and over-the-counter trading services to clients in the UAE. With the license, Roma plans to roll out a local infrastructure supporting AED for on-ramps and off-ramps, enabling users to purchase cryptocurrency using AED.
TRADE-
The Abu Dhabi Chamber of Commerce and Industry has signed an MoU with the Benin Chamber of Commerce to boost bilateral trade and investment cooperation between the emirate and the West African country, Wam reports.
REMEMBER- The Abu Dhabi Chamber plans to ink 100 partnerships with other chambers of commerce and business offices across MENA, Asia, Europe, Australia, Africa, and Latin America by the end of 2024.
LOGISTICS-
Dubai’s Sustainable City will see delivery robots delivering orders from restaurants and shops in its plaza area — within 30 minutes — starting this month, as part of a trial, according to the Dubai Media Office. The trial operations will launch with three autonomous on-demand delivery robots developed by Dubai Future Labs, with systems powered by Lyve Global.
