{"id":106623,"date":"2025-08-18T00:00:00","date_gmt":"2025-08-18T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/this-morning-hatta-dam-is-open-for-business-as-the-area-awaits-major-upgrade\/"},"modified":"2025-08-18T00:00:00","modified_gmt":"2025-08-18T00:00:00","slug":"this-morning-hatta-dam-is-open-for-business-as-the-area-awaits-major-upgrade","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2025\/08\/18\/this-morning-hatta-dam-is-open-for-business-as-the-area-awaits-major-upgrade\/","title":{"rendered":"THIS MORNING: Hatta Dam is open for business as the area awaits major upgrade"},"content":{"rendered":"

Good morning, lovely people, and welcome to the start of a new workweek. <\/strong>It\u2019s a slow start to the week, though that\u2019s not unusual for a Monday, but expect things to get busier next week as those on vacation return home in time for the new school year. <\/p>\n

While there\u2019s no single big story today, we have more data out on Dubai and Abu Dhabi\u2019s office sectors indicating sustained strong demand<\/strong> \u2014 and a look at how UAE-listed REITs are benefitting from the strong performance. Plus:<\/strong> The UAE continues to build out a global food security platform with investments in Kurdistan<\/strong>, and Shuaa Capital<\/strong> returns to the black in 1H 2025. <\/p>\n

WEATHER-<\/strong> The National Center of Meteorology forecasts (pdf)<\/a> partly cloudy conditions, with a chance of light rainfall in eastern and southern areas. Temperatures today will hit 41\u00b0C in Dubai<\/strong>, with an overnight low of 33\u00b0C, and 40\u00b0C in Abu Dhabi<\/strong>, before also cooling to an overnight low of 33\u00b0C.<\/p>\n

WATCH THIS SPACE- <\/p>\n

<\/a> #1- Hatta Dam is open for business:<\/strong> Hatta launched 14 new commercial spaces \u2014 including four restaurants, four retail outlets, and six F&B kiosks \u2014 at the Hatta Sustainable Waterfalls project, state news agency Wam<\/a> reports. Dubai Municipality will allocate the spaces without charge for one year to Emiratis residing in Hatta, in a bid to support small businesses and tourism. Dubai Municipality has started accepting applications from businesses for local cafes, gift shops, and other initiatives supporting the local culture. <\/p>\n

The initiative marks the first commercial activity at the Hatta Dam area<\/strong> and aligns with the Hatta Master Development Plan, a regional development project with 65 ongoing initiatives worth AED 3.6 bn<\/a>. <\/p>\n

\n

#2- <\/strong>UAE investors caught in UK\u2019s Seventy Ninth Group collapse: <\/strong>UAE investors are trying to recover funds placed with UK-based asset manager Seventy Ninth Group, which was placed into administration and has been under investigation by the City of London Police on suspicion of fraud since March, The National<\/a> reports. Individual investors in the UAE are saying they lost sums of up to several AED mns, with some investors reporting the case to Action Fraud in the UK and escalating complaints to Sanadak, the Central Bank of the UAE\u2019s ombudsman.<\/p>\n

IN CONTEXT- <\/strong>The company offered structured loan notes secured against property, promising annual returns of 15-18%, but defaulted on payouts. Its Dubai office, opened in 2023 in the Dubai Multi Commodities Center, has since shut down after failing compliance checks.<\/p>\n

The prospects of getting the money back look \u201cgrim,\u201d<\/strong> one Dubai-based investor told the outlet, adding that administrators view the firm as holding a \u201czero balance or negative balance book.\u201d Lawyers suggest potential collective action against advisers or third parties who marketed the products locally.<\/p>\n

#3-<\/strong> UAE, Mali eye closer trade ties: <\/strong>The UAE and Mali are set to sign an MoU to establish a joint business council connecting the private sectors of both countries, Wam<\/a> reports. The council will prioritize cooperation in agriculture, food security, energy, and mining as part of broader efforts to expand bilateral trade and investment.<\/p>\n

More sectors on the table: <\/strong>On the sidelines of the UAE-Mali Business Forum in Sharjah, a Malian trade delegation visited the UAE last week and presented investment projects in renewable energy, infrastructure, transport, manufacturing, and healthcare.<\/p>\n

DATA POINTS- <\/p>\n

<\/a> #1- <\/strong>The Abu Dhabi Chamber of Commerce and Industry recorded a 10.3% y-o-y <\/strong>increase<\/strong> in certificates of origin in 1H 2025<\/strong>, a marker of the emirate\u2019s growing variety of non-oil exports, state news agency Wam<\/a> reports. Chemicals, metals, and engineering were the leading sectors, while SMEs also boosted exports.<\/p>\n

REMEMBER-<\/strong> Abu Dhabi\u2019s non-oil foreign trade rose 34.7% in 1H 2025<\/a>, with exports jumping 64%, re-exports 35%, and imports 15%.<\/p>\n

<\/a> #2- <\/strong>The UAE\u2019s ins. <\/strong>sector<\/strong> saw profitability jump 54% y-o-y to reach AED 2 bn in 1H <\/strong>2025<\/strong>, recovering from heavy losses<\/a> caused by the unprecedented April 2024 rains<\/a>, Khaleej Times<\/a> reports, citing Badri Management Consultancy. Ins. firms managed to mitigate losses with gains from investment income, the consultancy said. Revenues rose 19% to AED 24.2 bn, supported by higher premiums and better risk-based pricing, especially in motor and medical ins. <\/p>\n

The top five insurers contributed AED 1.3 bn of the results<\/strong>, up 31% y-o-y \u2014 signaling an increase in market concentration. Among listed players:<\/p>\n