DEFENSE-

Edge links up with Turkish defense firm on digital defense and security solutions: State-owned defense firm Edge Group and Turkey-based Pavo Group are launching Key4, a joint venture that will develop advanced defense and security solutions for the UAE and global markets, according to a statement. The JV will focus on cybersecurity, electronic warfare, artificial intelligence, and secure systems. The statement did not disclose the breakdown of ownership between the two firms nor the value of its planned investments.

ENERGY-

Dana Gas kicks off USD 100 mn Egypt venture: Sharjah’s Dana Gas estimates some 9 bn cubic feet of natural reserves from its Begonia 2 appraisal well in Egypt’s onshore Nile Delta, according to a press release (pdf). The well, located in the New El Manzala concession and operated by JV El Wastani Petroleum Company, is the first in a series of 11 appraisal and exploration wells planned under a two-year USD 100 mn investment program — aiming to add 80 bcf in recoverable reserves. The initial drilling process on the next well is slated to start in August.

Dana Gas is also drilling into its existing wells to tap into the area’s deeper geological layers. At Balsam 3, the company redeployed the Egyptco rig, which had previously been sealed off, to unlock 4 bcf in additional reserves. The recompleted well is expected to produce 3 mcf/d and reduce the exploration risk in the surrounding area.

M&A-

EHC Investment acquires fire and safety firm: Emirates International Firefighting, the safety arm of International Holding Company’s EHC Investments, completed the full acquisition of Abu Dhabi-based safety services firm Tamouh Fire and Safety, according to a press release, which did not disclose the value of the acquisition. Tamouh’s fire safety operations cover emergency response services, as well as system installation and maintenance. The firm will now expand their offerings across the region, the statement said.

REAL ESTATE-

#1- Arada inks AED 678 mn contract with China Tiesju for Palm Jumeirah luxury residences: Sharjah-based property developer Arada appointed China Tiesju Civil Engineering, a subsidiary of China Railway Group, to construct Armani Beach Residences at Palm Jumeirah under a AED 678 mn contract, according to a press release.

The details: The development, scheduled for completion by the end of 2027, will feature 57 residences ranging from two to five bedrooms, including penthouses and two presidential suites.

#2- TownX launches AED 662 mn Ashley Hills project in Dubai’s Arjan: Real estate developer TownX launched Ashley Hills, a AED 662 mn residential project in Dubai’s Arjan district, according to a press release. The build will include 616 units across 400k sq ft and is located near Sheikh Mohammed Bin Zayed Road and Al Khail Road.

AVIATION-

Volar Air and Falcon Aviation Partner on Electric Aircraft: Hong Kong-based air mobility firm Volar Air Mobility and Abu Dhabi’s Falcon Aviation signed a MoU to bring RX-series electric aircraft to the UAE market, according to a press release. The two will coordinate on the certification, sale and distribution, maintenance, and final assembly of the aircraft.

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