INVESTMENT-

Dubai’s Roads and Transport Authority (RTA) signs off on AED 2.5 bn investment portfolio: The Dubai Portfolio for Public-Private Partnership (PPP) (2024-2026) comprises 10 projects that expand the role of the private sector in infrastructure development and the delivery of services. The projects include first-in-the-region rest stops and laybys for trucks; the Careem Bike Share project to develop an integrated bicycle network supporting multi-modal mobility; operation and maintenance contracts for the Dubai Metro and Tram; the Union 71 project to develop a residential and commercial complex adjacent to the Union Station of the Dubai Metro.

ENERGY-

We have a timeline for Infinity Power’s 10 GW wind project in Egypt: Infinity Power — a joint venture between Masdar and Egypt’s Infinity — is set to start construction on the country’s largest wind energy project in 1Q 2025, Infinity Chairman Mohamed Mansour told Al Arabiya. The consortium is planning to reach financial closure by early 2025, while operations are scheduled to begin in 2027 — approximately two years after construction commences, Mansour added. The project — which has a capacity of 10 GW — will be implemented by a consortium led by Masdar, and includes Infinity Power and Egypt’s Hassan Allam Utilities.

INS. SERVICES-

Arabian Scandinavian Ins. now goes by Sukoon Takaful: DFM-listed ins. company rebranded itself to Sukoon Takaful, aiming to create a one-stop value proposition aligned with its parent company, Sukoon Ins., according to a press release. Sukoon Takaful received an A rating from S&P Global last October, drawing from the support of its holding company.

REAL ESTATE-

Aqua Properties plans to launch two groundbreaking projects worth AED 3 bn in Dubai over the next six months, Trade Arabia reports. The projects include a 50-storey luxury tower on Sheikh Zayed Road and a vast 28k sqm plot in the Arjan area. With four completed projects in the UAE and three in the works, Aqua aims to deliver over 500 residential and commercial units in 1Q 2024.

TECH-

Space agency rolls out a homegrown version of Google Maps: The UAE Space Agency launched the operational phase of its Geo-Spatial Analytics Platform on Monday. The platform, developed in collaboration with Bayanat, leverages AI-powered software developed by startups to provide space images.

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