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INFRASTRUCTURE-
Construction begins on Empower’s district cooling facility in Dubai’s Deira: The construction of Emirates Central Cooling Systems Corporation’s (Empower) district cooling facility in Dubai’s Deira district has kicked off, after the company awarded the main construction contract to an undisclosed entity, a statement (pdf) from Empower showed. The facility will serve 46 buildings in the Deira Waterfront Development.
Empower’s cooling plant will be developed in two phases, with a planned output capacity of 39k refrigeration tons. The first phase will have an output capacity of 20k refrigeration tons and is slated to go live by the end of June 2025.
MANUFACTURING-
Krohne opens Dubai office: German process instrumentation manufacturer Krohne has launched a new office in Expo City Dubai to serve as a hub for the company’s operations in the UAE and help it boost ties with partners in the Emirati government and private sector, according to a statement picked up by Zawya. In addition, the office will house training facilities offering workshops for its services team.
Uh, Enterprise, what is process instrumentation? Process instrumentation refers to the use of equipment to monitor and optimize several variables in industrial processes, such as the level of temperature, pressure, and flow.
M&A-
Emirates NBD’s REIT sells Remraam towers: Shariah-compliant real estate investment trust ENBD REIT, which is managed by Emirates NBD Asset Management, has finalized the sale of its two Remraam residential towers in Dubailand, according to a statement picked up by Zawya. The transaction was valued above the 31 March market value of the assets, which was USD 12 mn according to ENBD REIT’s website.
Where will the money go? ENBD REIT will use the sale proceeds to reduce its debt, bringing its loan-to-value ratio down to 49.4% from 51%. The towers, which the trust purchased in 2015, accounted for 4% of its portfolio.
TECH-
TDRA launches a testing platform for new tech products: The Telecommunications and Digital Government Regulatory Authority (TDRA) has launched its ICT Regulatory Sandbox, which allows new ICT products and services to be tested before getting approved for mass distribution, according to a statement on X. The initiative allows tech companies to test the feasibility of their products, and identify potential shortcomings — either in the product itself or in regulations — ahead of rolling them out to consumers.
The platform targets technologies such as virtual reality, cloud computing, blockchain, the Internet of Things, and over-the-top (OTT) applications.
MARITIME-
Dubai to get a unified platform for private yachts registration: Dubai Maritime Authority has partnered with luxury yacht builder Gulf Craft to establish an online, unified platform for registering and licensing private yachts in the emirate, according to a statement from Gulf Craft.
SUSTAINABILITY-
TÜV SÜD Middle East partners with Tata Consultancy to access its carbon management platform: Abu Dhabi-based inspection firm TÜV SÜD Middle East, the Middle Eastern arm of Germany’s TÜV SÜD, will leverage Tata Consultancy Services’s (TCS) proprietary TCS Zero Carbon Platform to boost carbon management efforts for its customers under a new partnership, according to a statement from TCS. The Indian consulting firm’s platform uses AI to analyze data and identify emission hotspots, helping organizations monitor their carbon footprints.
TRADE-
Sharjah, Costa Rica discuss advancing trade relations: The Sharjah Chamber of Commerce and Industry met with Costa Rica’s Foreign Trade Promoter (Procomer) on Tuesday to probe means of boosting trade ties, and investments between the UAE and Costa Rica, Wam reported.
