{"id":95265,"date":"2024-08-29T00:00:00","date_gmt":"2024-08-29T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/apex-engineering-inks-50-year-lease-with-kezad-to-build-aed-90-mn-rd-and-manufacturing-hub\/"},"modified":"2024-08-29T00:00:00","modified_gmt":"2024-08-29T00:00:00","slug":"apex-engineering-inks-50-year-lease-with-kezad-to-build-aed-90-mn-rd-and-manufacturing-hub","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2024\/08\/29\/apex-engineering-inks-50-year-lease-with-kezad-to-build-aed-90-mn-rd-and-manufacturing-hub\/","title":{"rendered":"Apex Engineering inks 50-year lease with Kezad to build AED 90 mn R&#038;D and manufacturing hub"},"content":{"rendered":"<p class=\"tag-border-left\">INVESTMENT-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Apex Engineering to build industrial plant in UAE:<\/strong> Apex Engineering Industries signed a 50-year land lease agreement to set up an AED 90 mn R&D and manufacturing plant in Area A in Khalifa Economic Zones Abu Dhabi (Kezad) Al Ma'mourah, according to a <a target=\"_blank\" href=\"https:\/\/www.adportsgroup.com\/en\/news-and-media\/2024\/08\/28\/apex-engineering-industries-to-set-up-plant-in-kezad\" style=\"\" rel=\"noopener\">statement<\/a>. Neither the facility\u2019s production capacity nor the timeline for launch have been disclosed.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What we know: <\/strong>The manufacturing hub \u2014 which will cover 40k sqm \u2014 will produce industrial parts, components, machinery, and equipment for the oil and gas, locomotive, and defense industries. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">INFRASTRUCTURE- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Salik\u2019s two new toll gates valued at AED 2.73 bn: <\/strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/0264addb-0ed9-4d3e-bdd6-3452dc45784a\/response-plus-medical-acquires-uk-based-prometheus-medical-%2B-japan-kyoto-trade-exhibition-begins-today\" style=\"\" rel=\"noopener\">The two new toll gates<\/a> installed by <a target=\"_blank\" href=\"https:\/\/www.salik.ae\/en\" style=\"\" rel=\"noopener\">Salik<\/a> in Dubai were valued at a combined AED 2.73 bn, the emirate\u2019s exclusive toll gates operator said in a <a target=\"_blank\" href=\"https:\/\/feeds.dfm.ae\/documents\/\/2024\/Aug\/28\/11922103-d7f5-4a8e-bb7c-7fd8c62fdfa5\/PRL%20Salik%20%20%20EN%20%20%20Gat.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a>. The gate at Business Bay Crossing on Al Khail road was valued at AED 2.27 bn, while the gate Al Safa South on Sheikh Zayed road was valued at AED 469 mn. These gates \u2014 which expand Salik\u2019s network in Dubai to 10 gates \u2014 aim to redirect vehicles to routes with higher capacity to optimize road traffic.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Background: <\/strong>The Roads and Transportation Authority (RTA) said that the new gates will be operated by Salik back in <a target=\"_blank\" href=\"https:\/\/www.google.com\/url?q=https:\/\/enterprise.news\/uae\/en\/news\/story\/0264addb-0ed9-4d3e-bdd6-3452dc45784a\/response-plus-medical-acquires-uk-based-prometheus-medical-%252B-japan-kyoto-trade-exhibition-begins-today&sa=D&source=docs&ust=1724849117805093&usg=AOvVaw0gDHDhi1flZcLG0v6rjTfj\" style=\"\" rel=\"noopener\">January<\/a>. The gates will boost revenue-generating trips by 7-8% this year, according to the statement yesterday. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Salik\u2019s repayment plan:<\/strong> Salik agreed with the RTA to pay off the gates' value over six years starting from the date of their operation at the end of November, where a biannual installment of AED 227.9 mn will be paid.<\/p>\n<p class=\"tag-border-left\">ENERGY- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>India\u2019s Adani Power sets up new subsidiary in Abu Dhabi: <\/strong>India\u2019s Adani Power launched a new subsidiary in Abu Dhabi \u2014 dubbed Adani Power Middle East \u2014 with an authorized capital of USD 27k, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/8\/2506.pdf\" style=\"\" rel=\"noopener\">filing to the National Stock Exchange of India (pdf)<\/a>. The new arm will invest in power and infrastructure, among other related fields in the region.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> The UAE expansion comes roughly a month after the Abu Dhabi Investment Authority (Adia) and Qatar Investment Authority <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/bc811455-81fb-4bbb-b631-691ff0cad3ed\" style=\"\" rel=\"noopener\">backed<\/a> a USD 1 bn secondary share sale by Adani Power\u2019s sister company Adani Energy Solutions.<\/p>\n<p class=\"tag-border-left\">CRYPTO- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Klumi partners with Fuze to accelerate the adoption of blockchain tech by financial <\/strong><strong>institutions: <\/strong>Abu Dhabi-based digital assets fund manager <a target=\"_blank\" href=\"https:\/\/www.klumiventures.com\/\" style=\"\" rel=\"noopener\">Klumi Ventures<\/a> partnered with blockchain infrastructure provider <a target=\"_blank\" href=\"https:\/\/fuze.finance\/\" style=\"\" rel=\"noopener\">Fuze<\/a> to help financial service providers implement digital asset infrastructure and streamline their cross-border transactions, according to a <a target=\"_blank\" href=\"https:\/\/www.klumiventures.com\/post\/klumi-ventures-teams-up-with-fuze-to-advance-digital-assets-finance-in-uae\" style=\"\" rel=\"noopener\">statement<\/a> from Klumi. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>There\u2019s more:<\/strong> The partnership will also see both companies launch educational programs and workshops on blockchain technology for financial institutions, as well as cooperate on developing new products.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI- <\/strong>Klumi Ventures became the first Web3 venture capital firm to be regulated by the Abu Dhabi Global Market (ADGM) in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/0f9f788a-6e58-4f13-b171-ca963782f2c3\/%253cmark%253eklumi%253c%2Fmark%253e-ventures-becomes-first-web3-vc-to-receive-adgm-license\" style=\"\" rel=\"noopener\">April<\/a> after receiving a license from ADGM\u2019s regulator. The license allows Klumi to invest in tokens and equity investments in early-stage Web3 startups.<\/p>\n<p class=\"tag-border-left\">REAL ESTATE- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Awqaf plans 21 endowment properties in central Dubai: <\/strong>The <a target=\"_blank\" href=\"https:\/\/www.awqafdubai.gov.ae\/Home\" style=\"\" rel=\"noopener\">Endowments and Minors\u2019 Trust<\/a><a target=\"_blank\" href=\"https:\/\/www.awqafdubai.gov.ae\/Home\" style=\"\" rel=\"noopener\">Foundation in Dubai (Awqaf Dubai)<\/a> plans to develop 21 endowment properties in central Dubai, valued at over AED 202 mn, which will be funded by endowment backers, according to the <a target=\"_blank\" href=\"https:\/\/mediaoffice.ae\/en\/news\/2024\/august\/27-08\/awqaf-dubai-to-add-21-new-properties\" style=\"\" rel=\"noopener\">Dubai Media Office<\/a>. The properties will include malls, residential buildings, shops, and mosques and are expected to be completed within one to two years.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Galaxy Builders to launch a new residential project in Dubai: <\/strong>Indian real estate developer <a target=\"_blank\" href=\"https:\/\/www.galaxyrealty.com\/index.html\" style=\"\" rel=\"noopener\">Galaxy Builders<\/a> plans to build a luxury apartment complex in Jumeirah Garden City, Dubai called <a target=\"_blank\" href=\"https:\/\/galaxyrealty.com\/jardin.html\" style=\"\" rel=\"noopener\">Jardin Astral<\/a>, a <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/galaxy-realty-expands-into-dubai-with-landmark-project-jardin-astral-by-galaxy-vofv8f0q\" style=\"\" rel=\"noopener\">statement<\/a> from the company showed. The project will feature 46 apartments \u2014 with prices starting from AED 1.65 mn \u2014 and is expected to be completed by 3Q 2026. The value of the project was not disclosed.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">FUEL-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Flow Petroleum to distribute Enoc\u2019s lubricants in Pakistan:<\/strong> UAE\u2019s state-run energy firm <a target=\"_blank\" href=\"http:\/\/www.enoc.com\/en\" style=\"\" rel=\"noopener\">Enoc<\/a> signed an agreement with Pakistani oil marketing company <a target=\"_blank\" href=\"https:\/\/flowpetroleum.com.pk\/\" style=\"\" rel=\"noopener\">Flow Petroleum<\/a> allowing the latter to market and distribute its engine lubricants in Pakistan, according to a <a target=\"_blank\" href=\"https:\/\/www.enoc.com\/en\/media-centre\/news-releases\/press-release-detail\/id\/491\/enoc-partners-with-flow-petroleum-private-limited-to-expand-international-lubricants-distribution-to-pakistan\" style=\"\" rel=\"noopener\">statement<\/a> from Enoc.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">FINANCE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>US\u2019 TCW sets up regional office in Dubai: <\/strong>US asset management firm TCW Group launched a regional office in the Dubai International Financial Centre (DIFC), which will focus on serving sovereign and institutional clients in the Middle East, according to a <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/tcw-expands-global-footprint-with-opening-of-dubai-office-tbisxeue\" style=\"\" rel=\"noopener\">statement<\/a> from the company. The new office is TCW\u2019s first in the Middle East.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">MANUFACTURING-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Qemtex launches a new powder coating plant in Umm Al Quwain: <\/strong>Dubai-based powder coatings manufacturer Qemtex inaugurated a new USD 16 mn factory in Umm Al Quwain, according to a company <a target=\"_blank\" href=\"https:\/\/qemtex.com\/news\/qemtex-launches-new-powder-coatings-plant-in-uae\/\" style=\"\" rel=\"noopener\">statement<\/a>. The facility will have an initial production capacity of 5k tons a year, with plans to double the quota in a second phase. At least 30% of the factory\u2019s output will be earmarked for the domestic market, while 70% will be allocated for export to the MENA region, EU, and US.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">VENTURE CAPITAL-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Newa to launch new fund next year: <\/strong>Dubai-based venture capital firm <a target=\"_blank\" href=\"https:\/\/www.nuwacapital.io\/\" style=\"\" rel=\"noopener\">Nuwa Capital<\/a> is planning to set up a new fund at the end of 2025, which could gradually expand its remit beyond early-stage investments, Nuwa\u2019s Managing Partner Khaled Talhouni told <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/markets\/equities\/nuwa-capital-expects-gccs-early-stage-deal-volumes-to-rise-startups-to-focus-on-capital-markets-m7samylv\" style=\"\" rel=\"noopener\">Zawya<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Nuwa\u2019s current fund: <\/strong>Nuwa has finalized up to 12 transactions through its current fund \u2014 which is limited to early-stage investments \u2014 since January. The firm plans to make a transaction every six weeks until the fund is fully invested; it currently has some USD 30 mn left to deploy, Talhouni said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">BUSINESS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Alpha FMC establishes a presence in the region with a branch in Abu Dhabi: <\/strong>Management and technology consulting services provider Alpha Financial Markets Consulting (Alpha FMC) opened a new branch in Abu Dhabi Global Market (ADGM), marking its first presence in the Middle East, according to a <a target=\"_blank\" href=\"https:\/\/www.adgm.com\/media\/announcements\/alpha-financial-markets-consulting-opens-a-branch-in-abu-dhabi\" style=\"\" rel=\"noopener\">statement<\/a> from ADGM. The new branch will provide tailored consultancy services to the investment management sector in Abu Dhabi and the wider region, with operations overseen by Alpha's UK business.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The plant is aimed to bolster manufacturing for industries with large-scale projects<\/p>\n","protected":false},"author":1,"featured_media":95266,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1552],"tags":[144,47,128,1357,143,1371,7,1370,223,1369,161,1342,1368,1375,1374,532,1373,1372,1367,274],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-95265","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-also-on-our-radar","tag-adani","tag-also-on-our-radar","tag-blockchain","tag-business","tag-energy","tag-enoc","tag-enterpriseam-uae","tag-flow-petroleum","tag-fuze","tag-galaxy-builders","tag-infrastructure","tag-investment","tag-klumi-ventures","tag-newa","tag-qemtex","tag-salik","tag-security","tag-tcw","tag-transport","tag-venture-capital","wpautop","entry"],"acf":{"mongo_id":"f2371bc2-a5c0-4c9f-ab2b-21491fa4e51a","order":"10","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/8\/2583.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Apex Engineering to establish 40k sqm industrial plant in Kezad for oil, gas, and defense sectors","related_issue":[95247],"teaser":"The plant is aimed to bolster manufacturing for industries with large-scale projects","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/8\/.6aec5364-b3a7-4d98-931a-446fe801e83a.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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