INFRASTRUCTURE-

Dubai Municipality has awarded AED 1.4 bn contracts for four major projects under the Tasreef initiative, which aims to expand and improve the city’s stormwater drainage system, according to the Dubai Media Office. The projects, set to reduce flood risks and enhance the drainage system, will cover areas including Nad Al Hamar, Al Garhoud, and Jumeirah. More than 36 km of new drainage lines will be built, linking to the main Tasreef tunnel, and connecting drainage systems across the emirate.

ICYM- The Tasreef project, estimated to cost a total AED 30 bn, was approved following the heaviest rainfall the Emirates have seen in 75 years last April in an effort to adapt Dubai’s infrastructure to similar threats. The UAE also later said it had some AED 421 mn worth of water-saving projects underway to develop innovative solutions to mitigate flood damage. Dubai also launched a request for proposals for the first two contracts of the Dubai Strategic Sewerage Tunnels (DSST) project, which aims to modernize the emirate’s sewage infrastructure through a public-private partnership (PPP) model, last week.

BUSINESS-

#1- Sculptor to set up in Abu Dhabi: US global alternative asset manager Sculptor CapitalManagement — which oversees USD 34 bn in assets — has received regulatory approval to operate in Abu Dhabi, Bloomberg reports. Adrian Colberg (LinkedIn), the firm’s global co-head of the client partner group, is listed as one of three directors of its new ADGM entity.

The firm is no stranger to the UAE: Sculptor already has a representative office in the Dubai International Financial Center and played a role in the 2020 restructuring of Abu Dhabi-based hospital operator NMC Healthcare.

#2– Emirates, Hong Kong family office collaboration: The UAE’s Emirates Family OfficeAssociation (EFOA) and the Hong Kong Academy for Wealth Legacy (HKAWL) have signed an MoU to enhance collaboration between family offices in the UAE and Greater China, according to a press release. The agreement focuses on joint networking, knowledge sharing, and training programs to strengthen Abu Dhabi and Hong Kong as global hubs for family wealth management and offices.

#3- The UAE-Morocco business council convened for the first time, with the meeting held yesterday in Sharjah, Wam reports. The council aims to boost bilateral relations and investment opportunities across several sectors, including tourism, infrastructure, agri-food industry, renewable energy, finance, and advanced technologies.

EDUCATION-

Education provider Taaleem Holdings plans to open a second Harrow International School in Dubai, according to a DFM disclosure (pdf). The firm obtained initial approval from the Knowledge and Human Development Authority and inked a land lease agreement for a 50k sqm plot on Hessa Street. The school is set to open in 2026, with capacity for 1.8k students. Taaleem secured exclusive rights to operate the Harrow brand in the UAE in July 2024.

REMEMBER- Taleem signed a Musataha land lease agreement to launch the first Harrow International School in Dubai in February. It also inked a separate agreement to acquire land and property assets in Emirates Hills in Dubai to develop a new campus for its Dubai British School – Emirates Hills. The firm plans to invest AED 750 mn to build four schools in Abu Dhabi and Dubai over the next three years.

TRADE-

Abu Dhabi expands global trade ties: The Abu Dhabi Chamber of Commerce and Industry has signed agreements with China’s Guangxi Zhuang freetrade zone and the Florida Chamber of Commerce, it said in a LinkedIn post that was picked up by Al Khaleej. The agreements — as well as a separate meeting with Russia’s Moscow Chamber of Commerce exploring expanding UAE-Russia economic ties, including mutual investments and avenues for business expansion —- came on the sidelines of the AIM Congress.

AVIATION-

#1-Fujairah boosts connectivity to India: Fujairah International Airport has partnered with Indian low-cost airline IndiGo to operate direct daily routes connecting Fujairah International Airport to Mumbai and Kannur in India, according to a statement released on Thursday. The new routes are set to commence on 15 May, Wam reported on Friday.

#2- Dubai-based air cargo operator SolitAir has received its Air Operator Certificate from the UAE’s General Civil Aviation Authority, the company said in a press release. SolitAir currently operates three Boeing 737-800 BCF freighters—one under a dry lease—and one 737-400 BCF.

PORTS-

#1-LNG vessel makes maiden call at Khalifa Port: AD Ports subsidiary Noatum Maritime has deployed its first LNG-powered RoRo vessel at Khalifa Port’s autoterminal under its joint venture with Turkish shipping firm Erkport, according to a statement released on Friday. The vessel will use Khalifa Port as its hub — aiming to link industrial and automotive hubs across the world.

We knew this was coming: The vessel — Ugr Al Samha — is a pure car and truck carrier and has a capacity north of 7k CEUs. It was delivered to Noatum Maritime last month.

#2- Mawani boosts links to UAE, Pakistan: The Saudi Ports Authority (Mawani) has added a new shipping service — Al Pakistan Gulf service — with a capacity of 2.9k TEUs that will connect Saudi’s King Abdulaziz Port to ports in Pakistan’s Karachi and the UAE’s Jebel Ali Port, according to a statement.

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