REAL ESTATE-

Dubai-based real estate developer Arabian Hills inaugurated an AED 22 bn residential project in collaboration with Core International Holdings Group's real estate division Ara Real Estate Development, Wam reports. The project, dubbed Arabian Hills Estate, spans 244 mn sqft along Dubai-Al Ain Road, and comprises 14 phases. It will offer residential plots ranging between 12-132k sqft and schools, medical services, and entertainment facilities, with Ara tasked with managing and supervising all development activities.

MANUFACTURING-

Sobha Group’s aluminum facade subsidiary Sobha Modular Industries inaugurated its new manufacturing facility in Ras Al Khaimah’s Al Hamra, according to a press release. The new facility aims to double the company’s production capacity and is set to create 3k jobs in the region.

INVESTMENT-

E7 will shell out AED 182 bn to boost security solutions: Commercial printing and security solutions provider E7 Group plans to invest AED 182 mn in its security solutions business segment E7 Security, it said in an ADX disclosure (pdf). The investment will be geared toward increasing the segment’s passport manufacturing capacity fivefold and establishing its presence in the digital tax stamps segment by 2026, in a bid to ramp up revenue generation and support governments worldwide in curbing illicit trade of excisable goods.

EVs-

Al Futtaim Electric Transport signs MoU with Uber for battery charging infrastructure: Al Futtaim Electric Transport partnered with Uber to provide drivers with a wide range of electric and hybrid vehicles, Al Khaleej reports. Under the agreement, Al Futtaim Electric Transport company will also provide support to develop the infrastructure for EV battery charging. It will also offer Uber access to its Charge2Moov platform for car charging stations.

LOGISTICS-

#1- AAC kicks off construction on a new distribution center at Dubai Industrial City: AWRostamani Group subsidiary Arabian Automobiles Company has broken ground on a 350k sqft parts storage and distribution center at Dubai Industrial City, with the facility slated for completion in 2025, according to a press release. The smart warehouse facility is set to serve as a regional hub.

#2- Swiss transport and logistics firm Kuehne + Nagel broke ground at its new e-commerce fulfillment and distribution center in Dubai South’s e-commerce zone EZDubai, according to a press release. The project looks to function as a regional hub for e-commerce trade and is slated to be fully operational by 2Q 2025. An investment ticket for the initiative was not disclosed.

FINANCE-

Abu Dhabi, Bermuda to boost digital asset support: Abu Dhabi Global Market’s Financial Services Regulatory Authority and the Bermuda Monetary Authority inked an MoU to support and supervise digital assets entities across both jurisdictions, focusing on regulatory and supervisory cooperation, investigative assistance, and capacity enhancement initiatives, it said in a statement. The agreement will also see the jurisdictions cooperate in publications and media content, supervisory colleges, working groups, and training.

CLIMATE-

The Abu Dhabi-based Anwar Gargash Diplomatic Academy launched an initiative to facilitate climate financing for fragile and conflict-affected countries, in partnership with the international governmental organization G7+ group and the UK Foreign Office's Development Institute, Wam reports.

REGULATION-

Sharjah Ruler Sheikh Sultan bin Muhammad Al Qasimi issued a decree approving the organizational structure of the Sharjah Finance Department (SFD), Wam reports. The Executive Council will be tasked with implementing the decree, including issuing decisions approving job descriptions of SFD organizational units, and creating, merging, or canceling organizational units within the SFD’s general structure.

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