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REAL ESTATE-
#1- Almal Development eyes local and southeast Asia expansion: Dubai-based investment and development firm Almal Real Estate Development is planning to expand into new verticals and international markets as part of its growth plan for the next five years, according to a press release. The firm will expand into Bali and Thailand to develop residential community projects for both local and international clients, and will also grow its predominantly residential portfolio to encompass commercial projects, including a business center project they have named Smart Space in the UAE, to meet growing demand for office space.
#2- Work starts on AED 100 mn Kasco + Evolutions project: Kasco Group ’s real estate arm Kasco Developments and real estate intelligence hub Evolutions began construction on a residential building in the Al Jaddaf Waterfront area with investments of AED 100 mn, according to a joint press release (pdf). The project, dubbed Volna, is slated for handover in 2Q 2026. Last September, Kasco said it plans to invest AED 1.2 bn in three projects in the Business Bay and Al Jaddaf.
WASTE MANAGEMENT-
ENEC granted licence to search for nuclear waste disposal site: The UAE’s FederalAuthority forNuclear Regulation (FANR) granted Emirates Nuclear Energy Company (ENEC) a license to explore potential sites for disposing of low-level nuclear waste, according to KhaleejTimes reports. Once a suitable location is identified, ENEC will be the only entity permitted to develop and operate a waste disposal facility, FANR Director General Christer Viktorsson said.
What’s low-level waste? This includes materials like protective gear and equipment used in nuclear plant operations, which does not pose a significant danger but still requires secure containment for up to a century, Viktorsson explained. In addition, FANR is moving forward with plans for an interim storage facility to manage high-level waste, such as spent nuclear fuel, which is currently kept in deep water pools near the reactors for cooling and radiation shielding.
CONSTRUCTION-
Khansaheb appointed as main contractor for first phase of Dubai Exhibition Center expansion: Dubai-based Khansaheb Civil Engineering was appointed as the main contractor for the first phase of the AED 10 bn (USD 2.7 bn) Dubai Exhibition Center expansion at Expo City Dubai, according to a press release. The project, set for completion by 2026, will increase DEC’s capacity to 140k sqm, nearly 2.5 times its current size.
Khansaheb’s scope includes the 34k sqm South Hall and 30k sqm North Hall, with steel frame superstructures, composite cladding, and MEP installations. Once completed, the expansion will boost DEC’s visitor capacity to 50k people daily.
ICYMI- In October, Dubai World Trade Centre appointed UK-based Mace Group as the program delivery consultant for the project.
FINANCE-
The Central Bank of the UAE and the Dubai Economic Security Center inked an MoU to enhance cooperation in combating financial crime, according to a press release (pdf). The MoU focuses on information-sharing and developing best practices, and addresses the UAE's role in the Financial Action Task Force — the G7’s initiative against financial crime — aiming to improve national capabilities through staff training and awareness campaigns.
