{"id":87214,"date":"2023-12-06T00:00:00","date_gmt":"2023-12-06T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/dubais-rta-endorses-aed-2-5-bn-investment-portfolio-boosting-ppps-arabian-scandinavian-ins-rebrands\/"},"modified":"2023-12-06T00:00:00","modified_gmt":"2023-12-06T00:00:00","slug":"dubais-rta-endorses-aed-2-5-bn-investment-portfolio-boosting-ppps-arabian-scandinavian-ins-rebrands","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2023\/12\/06\/dubais-rta-endorses-aed-2-5-bn-investment-portfolio-boosting-ppps-arabian-scandinavian-ins-rebrands\/","title":{"rendered":"Dubai\u2019s RTA endorses AED 2.5 bn investment portfolio boosting PPPs + Arabian Scandinavian Ins. rebrands"},"content":{"rendered":"

INVESTMENT-<\/strong><\/p>\n

Dubai\u2019s Roads and Transport Authority (RTA) signs off on AED 2.5 bn investment <\/strong>portfolio: <\/strong>The Dubai Portfolio for Public-Private Partnership (PPP) (2024-2026)<\/a> comprises 10 projects that expand the role of the private sector in infrastructure development and the delivery of services. The projects include first-in-the-region rest stops and laybys for trucks; the Careem Bike Share project to develop an integrated bicycle network supporting multi-modal mobility; operation and maintenance contracts for the Dubai Metro and Tram; the Union 71 project to develop a residential and commercial complex adjacent to the Union Station of the Dubai Metro.<\/p>\n

ENERGY-<\/strong><\/p>\n

We have a timeline for Infinity Power\u2019s <\/strong>10 GW<\/strong> wind project in Egypt: <\/strong>Infinity Power<\/a> \u2014 a joint venture between Masdar and Egypt\u2019s Infinity \u2014 is set to start construction on the country\u2019s largest wind energy project<\/a> in 1Q 2025, Infinity Chairman Mohamed Mansour told Al Arabiya<\/a>. The consortium is planning to reach financial closure by early 2025, while operations are scheduled to begin in 2027 \u2014 approximately two years after construction commences, Mansour added. The project \u2014 which has a capacity of 10 GW \u2014 will be implemented by a consortium led by Masdar, and includes Infinity Power and Egypt\u2019s Hassan Allam Utilities. <\/p>\n

INS. SERVICES-<\/strong><\/p>\n

Arabian Scandinavian Ins. now goes by Sukoon Takaful: <\/strong>DFM-listed ins. company rebranded itself to Sukoon Takaful, aiming to create a one-stop value proposition aligned with its parent company, Sukoon Ins., according to a press release<\/a>. Sukoon Takaful received an A rating from S&P Global<\/a> last October, drawing from the support of its holding company.<\/p>\n

REAL ESTATE- <\/strong><\/p>\n

Aqua Properties plans to launch two groundbreaking projects worth AED 3 bn in <\/strong>Dubai over the next six months<\/strong>, Trade Arabia<\/a> reports. The projects include a 50-storey luxury tower on Sheikh Zayed Road and a vast 28k sqm plot in the Arjan area. With four completed projects in the UAE and three in the works, Aqua aims to deliver over 500 residential and commercial units in 1Q 2024.<\/p>\n

TECH-<\/strong><\/p>\n

Space agency rolls out a homegrown version of Google Maps:<\/strong> The UAE Space Agency launched the operational phase<\/a> of its Geo-Spatial Analytics Platform on Monday. The platform, developed in collaboration with Bayanat<\/a>, leverages AI-powered software developed by startups to provide space images. <\/p>\n","protected":false},"excerpt":{"rendered":"

The portfolio comprises 10 projects targeted at infrastructure development and the delivery of 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