REAL ESTATE-

Damac debuts in the US: Dubai developer Damac Group launched its first US real estate project, The Delmore, a 12-story ultra-luxury oceanfront condominium located in Surfside, Miami’s Bn’aire’s Triangle, according to a press release. Construction is underway, with completion slated for 2029, and Douglas Elliman handling sales. The property features 37 exclusive residences, and is designed by Zaha Hadid Architects.

REMEMBER- Damac ❤️ the US: Earlier this month, the developer committed USD 20 bn in data centers across the US. The project’s first phase targets the Sunbelt and Midwest regions, with the possibility of “doubling” its investment depending on market demand and opportunity.

#2- UAE-based Prestige One Developments plans to launch 11 new luxury real estate projects in 2025 to nearly double its portfolio, the company said in a press release (pdf). The new developments will be in “sought-after” locations like Palm Jumeirah, Business Bay, Jumeirah Village Circle (JVC), and Dubai Islands. The company will complete and hand over Vista in Dubai Sports City and The Residence in JVC this year.

More in the cards: The developer is also expanding into the wider GCC and West African markets this year. By the end of 2025, the company’s portfolio is planned to include 25 completed and ongoing projects. As part of this year’s growth plans, the developer appointed former Colliers Project Leaders Managing Director Yamin Shihab, as chief development officer.

RENEWABLES-

Larsen & Toubro selected as EPC contractor for Abu Dhabi mega solar project: Indian multinational Larsen & Toubro’s (L&T) has been selected by Masdar as one of the preferred engineering, procurement and construction (EPC) contractors for a 24/7 solar and battery storage project in Abu Dhabi, according to a press release (pdf).

ICYMI- Masdar and Emirates Water and Electricity Company are building a USD 6 bn, 5.2 GW solar project that will be linked to a 19 GWh battery energy storage system, making it one of the largest of its kind in the world. The mega project — set to be completed by 2027 — will produce 1 GW of uninterrupted baseload power clean power daily. It covers an area of 90 sq km in the Abu Dhabi desert and will receive financing through both debt and equity.

INVESTMENT-

Investors will be able to access Dubai + Frankfurt tokenized real estate assets, courtesy of Tokinvest, StegX: Homegrown tokenized real-world asset marketplace Tokinvest partnered with Germany’s StegX to link up the financial hubs of Dubai and Frankfurt, Tokinvest said in a statement. The partnership aims to facilitate investors’ access to tokenized real-world assets in both markets — including real estate, commodities, and funds — while making it easier for issuers to cross-list their assets and raise capital efficiently.

SOUND SMART- Asset tokenization allows rights or ownership of assets to be converted into digital tokens on a blockchain, which can be owned and traded online. This offers more liquidity and transparency in trading and expands access to high-value assets for a wider segment of investors. The concept is picking up steam in the UAE, where regulators are paving the way for more mainstream use of blockchain and tokenization, and where more investors are looking to tap the real estate sector every year.

HEALTHCARE-

#1- Arabian Healthcare Group (AHG) plans to build a new 209-bed greenfield hospital in Ras Al Khaimah in partnership with its long-standing, US-based partner CommonSpirit Health, according to a press release. The new multispeciality hospital will target patients with premium ins. plans, allowing AHG’s flagship Rak Hospital to focus more on low- to mid-tier insurance patients.

The details: The hospital will be located along Sheikh Mohammed Bin Zayed Road and is scheduled to open in 3Q 2027.

The partnership will also see AHG expand its urgent care clinics’ network, with new clinics planned in Al Dhait, Al Maried, and Al Ghail, in addition to relocating its existing clinic in Al Hamra to a larger accommodation.

AHG, CommonSpirit Health go way back: AHG and CommonSpirit Health have been partners since 2018, which allowed AHG to integrate the latter’s healthcare services. CommonSpirit’s international arm Dignity Health International acquired an undisclosed minority stake in AHG in 2023.

#2- Sweden-based healthcare provider Diaverum is gearing up to bring its services to Abu Dhabi and Al Ain, after Emirati state-owned health-tech firm M42 acquired it in 2023, Diaverum said in a press release. The company plans to focus on tackling chronic kidney diseases in the UAE, deploying both personalized treatments and preventive care measures.

PETROCHEMICALS-

Adnoc’s petrochemicals unit lands USD 100 mn in supply contracts: Adnoc’s petrochemicals unit Borouge will supply advanced polyethylene and polypropylene under four contracts worth a cumulative USD 100 mn, according to a press release (pdf). The supplies will go to Bericap, Taghleef Industries, Indevco Group, and ALPLA, where they will be primarily used in packaging solutions.

ALSO- The company inked a cooperation agreement with Tahzeem Packaging and Rebound to produce heavy duty shipping sacks that use 30% post-consumer recycled (PCR) polyethylene.

LOGISTICS-

#1- Arvato enters GCC market with new logistics facility in the UAE: Arvato, the logistics division of Germany-headquartered Bertelsmann Group, inaugurated a new logistics hub at Dubai CommerceCity, according to a press release. The 3.3k sqm warehouse is located 10 minutes away from Dubai Airport (DXB) and will provide a range of services that include general warehousing and fulfillment activities.

#2-DP World + NSW partner up on expansion project: Port operator DP World has partnered with Australia’s NSW Ports to extend the rail terminal at Sydney’s Port Botany with a AUD 400 mn (c. USD 290 mn) co-investment, according to a statement. The project — set to break ground in June 2025 — will take two years to complete, and aims to strengthen the port’s on-dock rail capacity to serve Sydney’s import and export trade.

The game plan: NSW Ports will provide AUD 148 mn for the new facility and will service the container terminal and logistics park. The terminal’s annual rail capacity will more than double to 1 mn TEUs.

Tags: