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REAL ESTATE-
#1- Abu Dhabi is set to get its first Mandarin Oriental-branded development under a new partnership between the Hong Kong-based hospitality group and Aldar, according to a press release. The development will be located on Saadiyat Island, and will feature 228 luxury homes. Sales are expected to open later this year.
#2- Paying rent in Dubai is about to get easier: The Dubai Land Department tapped proptech company Keyper Holdings to use its property management platform to allow tenants to pay their rent via debit and credit cards, with options to pay in installments of up to 12 months, according to the Dubai Media Office.
The partnership also aims to streamline sales, leasing, and mortgage registration via electronic integration with the Keyper app, as well as facilitate the management of owners’ association fees via integration with the Mollak platform.
#3- Dubai Holding rebranded its residential portfolio as Dubai Residential, from Dubai Asset Management, following the merger of Nakheel and Meydan earlier this year, according to a statement.
CAPITAL MARKETS-
Financial services company Finance House will funnel AED 300 mn into the Abu Dhabi Securities Exchange through its brokerage arm Finance House Securities to boost the market’s liquidity and stability, according to a press release.
TECH-
#1- Abu Dhabi’s Crown Prince Sheikh Khaled bin Mohamed bin Zayed Al Nahyan approved plans for three new ventures under VentureOne, the Advanced Technology Research Council commercialization arm, during the ATRC’s latest meeting, according to the Abu Dhabi Media Office. The ventures, scheduled to launch later this year, focus on quantum data security, smart autonomous mobility, and robotics-driven agritech.
#2- Adnoc Distribution is developing over 20 AI-powered tools to optimize its operations, the CEO of Adnoc’s retail arm Bader Al Lamki told the National on the sidelines of the Gitex Global tech conference. Adnoc Distribution has been leveraging AI and data analytics to strategically deploy new stations based on location, traffic conditions, and demographics, Al Lakmi said. He also expected the Smart Fuel Demand Prediction Model, used by the company to forecast the daily needs of customers and future demand, to help the company save up to USD 34 mn over the next five years.
ALSO- Adnoc Distribution plans to introduce AI-powered, self-service checkout kiosks at its convenience stores, which can recognize products quickly and complete transactions in under 30 seconds, Al Lakmi said.
TRANSPORT-
Parkin, Saaed to partner on mobility infrastructure projects: Dubai’s public parking operator Parkin inked an MoU with traffic services provider Saaed for Traffic Systems to collaborate on transport and mobility infrastructure projects under both the public and private sectors, according to the Dubai Media Office. No further details were given on the projects they will work on.
LOGISTICS-
Emirates has ordered five additional Boeing 777 freighters, set to be delivered in 2025 and 2026, bringing its total freighter orderbook to 21, according to a statement, which did not disclose the value of the order. The airline, which is looking to boost its freighter capacity, will continue with plans to convert 10 passenger Boeing 777-300ERs into freighters, says the statement.
It doesn’t end there: The airline has also inked a multi-year lease extension for four Boeing 777s in its current fleet with aviation services firm Dubai Aerospace Enterprise, the statement said. Based on the two orders, Emirates Skycargo is slated to double its existing fleet of 11 units to 21 production-built Boeing 777s by December 2026.
FINTECH-
MBME Group payments subsidiary MBME Pay signed an agreement with ruya to provide its services to the digital-first Islamic bank’s customers, according to a press release (pdf). No further details were disclosed.
WAREHOUSING-
Abu Dhabi Airports Free Zone (ADAFZ) inked a musataha agreement with Radius Group to develop a AED 320 mn warehouse complex in the Al Falah District, according to a statement. The project, spanning 140k square meters, will offer over 90k square meters of premium warehouse space and is expected to be completed in two years.
ADVISORS- Knight Frank Mena’s Industrial & Logistics division advised Radius on the land lease process.
What is a musataha agreement? A musataha is a long-term investment partnership between the public and private sectors, granting investors the rights to develop land owned by another party for up to 50 years, shifting design, finance, and operational risks to the private sector.
MANUFACTURING-
Pure Ice Cream to churn up an AED 80 mn factory Dubai’s Industrial City: Pure Ice Cream, manufacturer of Kwality Ice Cream and Hershey’s Ice Cream, will build an AED 80 mn production facility at Dubai Industrial City under a musataha agreement, according to a press release. Spanning 160k sq-ft, the factory is expected to be among UAE’s largest ice cream factories and is slated for launch in 2026. The new facility will boost production capacity by 300%, reaching 30 mn liters annually to serve Pure Ice Cream’s markets across the GCC, USA, Africa, and Southeast Asia.
RETAIL-
Indian jeweler Bhima Jewellers is set to open 15 new stores across the UAE over the next three years, following the inauguration of its new head office in Dubai, Khaleej Times reports, citing chairman B. Govindan. The company also aims to tap into other GCC markets, with Qatar and Bahrain as initial targets, Govindan said. To support this expansion, the company aims to raise AED 1 bn from high-net-worth individuals and foreign institutional investors, marking its first foray into external fundraising.
