DEBT-<\/p>\n
Emirates NBD dual-lists USD 500 mn sustainability-linked loan financing bond o<\/strong>n Nasdaq and Euronext Dublin: <\/strong>Emirates NBD bank listed its USD 500 mn sustainability-linked loan financing bond (SLLB) on Nasdaq Dubai and Euronext Dublin, according to the Dubai Media Office<\/a>. The offering is deemed the world\u2019s first SLLB issued under the new International Capital Market Association (ICMA) \u2014 headquartered in Zurich, London, Paris Hong Kong \u2014 and the Loan Market Association (LMA) framework. <\/p>\n Remember- <\/strong>The Emirati bank first launched the USD 500 mn five-year SLLB at initial price thoughts of 125 bps over US Treasuries back in November<\/a>. The issuance was marked as the bank's first sustainability-linked issuance. <\/p>\n This latest debt issuance increases Emirate NBD\u2019s total value of bonds currently listed on Nasdaq Dubai to USD 5.8 bn,<\/strong> spanning nine different listings.<\/p>\n \n TRADE-<\/p>\n The Abu Dhabi Investment Office inks MoU with US\u2019 Export-Import Bank: <\/strong>State-owned Abu Dhabi Investment Office (ADIO) inked an MoU with the Export\u2013Import Bank of the United States (EXIM) during Abu Dhabi Finance Week to strengthen trade and investment ties between the two countries, a press release<\/a> reads. <\/p>\n The details:<\/strong> The UAE and the US aim to focus on collaborating to support small-and medium-sized enterprises (SMEs), with a focus on women-owned businesses, and facilitating exports and imports of goods and services. The agreement targets the sectors of emerging technologies, critical minerals, infrastructure \u2014 including telecommunications and transport systems, with an aim to support the introduction of 5G networks.<\/p>\n Collaborations in the energy sector: <\/strong>The two countries also aim to work on enhancing renewable energy solutions, including green hydrogen and energy storage systems, strengthening critical mineral supply chains, and fostering innovation in biotechnology, AI, semiconductors and quantum computing. <\/p>\n \n CONSTRUCTION-<\/p>\n AD Ports taps Hassan Allam for construction of Safaga terminal in Egy<\/strong>pt: <\/strong>Emirati, ADQ-owned port giant Abu Dhabi Ports has chosen Egyptian construction and contracting leader Hassan Allam Construction to build the infrastructure for its Noatum Ports at the Safaga terminal in the Red Sea, according to a statement (pdf)<\/a>. Details about the cost of the agreement are yet to emerge.<\/p>\n Remember: <\/strong>AD Ports will develop and operate<\/a> the container terminal at Safaga Port under a USD 200 mn, 30-year concession agreement that has been in the works since at least 2021<\/a>. The project \u2014 which was finalized<\/a> in an agreement in late 2023 \u2014 was initially expected to kick off operations in 2Q 2025. The terminal is expected to be able to handle some 5 mn tonnes of dry bulk, 1 mn tonnes of liquid bulk, 450k TEUs of containerized cargo, and 50k car-equivalent units (CEUs) of roll-on, roll-off cargo. Needed infrastructure includes administrative buildings, warehouses, roads, utilities, security systems, and more.<\/p>\n Data point: <\/strong>AD Ports has invested some USD 349 mn in Egypt over the past three years when it really began to establish itself in the country. The global port operator has now acquired local logistics firms TCI and Transmar<\/a> and maritime services provider Safina<\/a>. It has also landed an agreement<\/a> to develop, operate, and manage three cruise terminals in Hurghada, Safaga, and Sharm El Sheikh and another for a planned roll-on, roll-off ship terminal and cruise terminal in Ain Sokhna Port.<\/p>\n \n REAL ESTATE- <\/p>\n #1- Abu Dhabi-based <\/strong>Ohana Development<\/strong> launched a AED 4.7 bn beachfront <\/strong>residential project <\/strong>in partnership with US-based luxury watch and jewellery brand Jacob & Co.<\/a>, according to a press release<\/a>. Jacob & Co. Beachfront Living by Ohana is located in Al Jurf district between Dubai and Abu Dhabi, and it features one- to three-bedroom apartments, as well as three- to six-bedroom villas. The project is scheduled for delivery by 2Q 2028.<\/p>\n ICYMI- <\/strong>Ohana Development launched its Eli Saab Waterfront on Abu Dhabi\u2019s Al Reem Island in May<\/a>.<\/p>\n #2- One Development broke ground on its flagship AED 2 bn Laguna Residence <\/strong>project <\/strong>in Dubai's City of Arabia, according to a press release<\/a>. The project, launched in October<\/a>, is scheduled for delivery in 4Q 2027.<\/p>\n #3- <\/strong>Mr. Eight Development set to launch five residential projects<\/strong> next year<\/strong>: <\/strong>Dubai-based Mr. Eight Developments is gearing up to launch five new \u201cboutique-inspired\u201d residential projects on Dubai Islands in 2025, according to a press release<\/a>. \u201cWe plan on investing around [AED 1 bn] across all our projects on Dubai Islands, Mr. Eight\u2019s Director Emils Daujats said. The team behind Mr. Eight has spent 20 years developing projects in Europe.<\/p>\n The developer secured eight new plots of land<\/strong> developed by Dubai-based developer Nakheel<\/a>, on which the five projects will be launched.<\/p>\n TECH- <\/p>\n Vertical Data set to launch flagship service in the UAE under partnership with <\/strong>Hodler: <\/strong>Dubai-based digital assets investment firm Hodler Investments<\/a> partnered with US-based data center infrastructure firm Vertical Data<\/a> to bring the latter\u2019s GPUaaS solution in a box service to the UAE and the wider Mena region, according to a press release (pdf)<\/a>. <\/p>\n The details:<\/strong> The partnership will see Vertical Data work with Hodler\u2019s subsidiary PermianChain to deploy modular and portable data center solutions, which can be tailored to each company\u2019s needs and available real estate space.<\/p>\n ICYMI-<\/strong> Hodler Investments partnered with Gewan Holdings in August<\/a> to establish a closed-ended digital energy infrastructure fund, targeting USD 250-500 mn. The fund has already received soft commitments and contributions from undisclosed lead investors.<\/p>\n INFRASTRUCTURE- <\/p>\n Enoc and Terra partner up to establish e-bike battery swapping stations in the <\/strong>UAE: <\/strong>Emirates National Oil Compan (Enoc)<\/a> inked a partnership agreement with Dubai-based battery-swapping refueling and electric scooters platform Drive Terra<\/a> to build a battery swapping stations network nationwide for e-bikes, according to a press release<\/a> from Enoc. The battery-swapping network aims to accelerate the adoption of e-bikes in the country.<\/p>\n Terra teamed up with Flyby <\/strong>back in March<\/a><\/strong> to provide it with e-bikes<\/strong> powered by the Middle East\u2019s first swappable battery network in a bid to reduce emissions.<\/p>\n \n AVIATION- <\/p>\n Air Arabia adds new flights to Russia: <\/strong>Sharjah-based budget airline Air Arabia plans to launch a direct route between Sharjah International Airport and Sochi International Airport in Russia. The service will kick off from 27 June, 2025, with three non-stop flights scheduled each week on Mondays, Wednesdays, and Fridays, according to a press release<\/a>. With this new route, Sochi is set to become the sixth Russian city served directly by Air Arabia from Sharjah, along with Moscow, Kazan, Samara, Ufa, and Yekaterinburg.<\/p>\n \n EDUCATION-<\/p>\n ADGM Academy, the educational arm of Abu Dhabi Global Market, inke<\/strong>d seven <\/strong>MoUs during the Future of Talent Summit <\/strong>which it hosted on the sidelines of the Abu Dhabi Finance Week, according to a press release<\/a>. A rundown of the MoUs:<\/p>\n \n DISPUTE WATCH-<\/p>\n Three individual shareholders of Fujairah-based Brooge Energy have fil<\/strong>ed a complaint in a US federal court against EY<\/strong>, alleging the auditor failed to detect what they claim were fabricated revenues in Brooge Energy's annual reports for two years, Reuters<\/a> reports. The plaintiffs were once investors in a special purpose acquisition company that acquired Brooge in 2019. Brooge's assets are now being acquired<\/a> by DFM-listed Gulf Navigation.<\/p>\n \n PAYMENTS-<\/p>\n Turkish fintech firm Dgpays partnered with Mastercard to co-develop digital <\/strong>payment and loyalty solutions for Eastern Europe, the Middle East, and Africa (EEMEA)<\/strong>, according to a press release<\/a>.<\/p>\n Remember-<\/strong> Dgpays, which acquired a 65% stake<\/a> in Mashreq\u2019s payment subsidiary NeoPay earlier this year, has been eyeing expansion<\/a> beyond the UAE into other GCC countries, Egypt, and Pakistan.<\/p>\n","protected":false},"excerpt":{"rendered":" Plus: Abu Dhabi\u2019s Ohana Development launched a AED 4.7 bn residential project<\/p>\n","protected":false},"author":1,"featured_media":98982,"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":[530,1226,47,306,324,260,1371,7,98,1341],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-98981","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-also-on-our-radar","tag-abu-dhabi-investment-office","tag-air-arabia","tag-also-on-our-radar","tag-aviation","tag-construction","tag-emirates-nbd","tag-enoc","tag-enterpriseam-uae","tag-real-estate","tag-tech","wpautop","entry"],"acf":{"mongo_id":"f615911c-a950-4f8c-9e43-a8e12646b6cb","order":"9","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/5\/899.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Emirates NBD dually lists USD 500 mn bond on Nasdaq and Euronext Dublin","related_issue":[98965],"teaser":"Plus: Abu Dhabi\u2019s Ohana Development launched a AED 4.7 bn residential project","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/12\/.26b09ba1-10fc-4cba-b127-8279e2cf4585.mp3"},"yoast_head":"\n\n