INFRASTRUCTURE–

RTA to improve airport traffic with DXB bridge expansion: Dubai Airports and the Roads and Transportation Authority (RTA) have awarded a contract to widen and upgrade the bridge leading to Dubai International Airport’s (DXB) Terminal 1, according to a press release. The project will add a lane to the bridge, making it four in total, by adding a new bridge using a system of steel box girders, expanding the total capacity from 4k to 5k vehicles — a 33% increase.

The project comes in a bid to reduce traffic congestion at the world’s busiest airport for international passengers. In 2015, the RTA also inked a USD 110 mn contract to upgrade its airport road, which included the construction of bridges and tunnels at Al Rashidiya, as well as a one-lane bridge leading directly to the airport’s Terminal 3.

SAFETY-

Adnoc, Backline Safety roll out multi-year safety tech agreement: Abu Dhabi National Oil Company (Adnoc) placed its first order under a multi-year agreement with Canadian global safety tech and manufacturing leader Backline Safety, according to a press release. Adnoc will purchase up to 28k safety devices — including 1k G6 wearable single-gas detectors and 1.2k Backline location beacons — through Backline Safety’s channel partner, Al Masaood.

Why this matters: The devices will help Adnoc — one of the world’s largest offshore oil and gas manufacturers, with a daily yield of 4 mn gallons of oil — improve its worker safety and operational oversight. The technology detects hazardous gas and provides precise, real-time location data for effective emergency response.

REAL ESTATE-

Al Huzaifa launches real estate arm with debut RAK project: UAE-based luxury furniture and interiors brand Al Huzaifa has set up Al Huzaifa Properties, a new real estate development arm, Khaleej Times reports. The company’s first project will deliver fully furnished residences on Al Marjan Island in Ras Al Khaimah.

REMEMBER- The island has emerged as one of the emirate’s top luxury destinations, with upcoming residential projects including The Astera, the Jacob & Co Residences, and Mondrian Beach Residences. It is also set to host hospitality and tourism ventures such as Fairmont Hotels and Resorts’ planned 769-key resort and the USD 3.9 bn Wynn Al Marjan Island gaming resort.

FINANCIAL SERVICES-

Solowin Holdings expands in the Middle East with new Dubai center: Hong Kong-based digital assets-focused fintech Solowin Holdings is launching its Dubai Operations Center and applying for a Category 3C asset management license from the Dubai International Financial Center (DIFC), according to a press release. The financial services firm recently inked an MoU with an unnamed prominent UAE firm in a bid to accelerate its market access. It will initially target institutional clients seeking sharia-compliant products backed by real-world assets and computing power.

The firm is also integrating “Saudi-based infrastructure resources,” it said without clarifying the details, as it says it looks to contribute to a cross-regional “digital financial silk road.”

Mutual recognition comes in handy: Solowin picked DIFC due to its mutual recognition of Hong Kong’s Securities and Futures Commission regulatory framework — which helps fast-track its regulatory approval process to three months. This move is part of a larger strategy to create a digital financial Silk Road, boosting regional investors’ access to digital asset management and tokenized products.

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