Virgin Hyperloop One (VHO), the world’s leading hyperloop company, today announced the results of a strategic study commissioned to build the world’s first extended test and certification hyperloop track in the Kingdom of Saudi Arabia. The study also set out plans for an R&D center and manufacturing facility to support the development of the groundbreaking hyperloop technology. In line with Saudi Vision 2030, the Kingdom’s diversification and development strategy, the VHO project is expected to significantly support a number of the economic and social pillars of the country’s 2030 Vision, including the expansion of transportation, the development of urban infrastructure…
Author: Jo D'Costa
Strengthening Abu Dhabi’s regional and global leadership in facilitating businesses and increasing growth and collaboration opportunities for the private sector, the Abu Dhabi Department of Economic Development (ADDED) implements eight major economic initiatives in line with the Abu Dhabi Development Accelerator Programme ‘Ghadan 21’ programme. These initiatives have been created for strategic sectors that promote and serve the emirate’s business environment competitiveness agenda. The eight leading economic initiatives announced by ADDED are the Abu Dhabi Instant Licence, Industrial Tariffs initiative, Local Content Program, and Tech Licences Package, in addition to existing initiatives such as Tajer Abu Dhabi – Golden Package Licence,…
A majority of young drivers in the UAE are not taking the required steps to ensure that their cars meet recommended standards of safety when it comes to tyre maintenance, with independent tests revealing that over 40 percent of students’ cars are equipped with one or more tyres that do not meet recommended safety standards. These are among the findings of new research undertaken by Continental, the premium tyre and automotive manufacturer, which found that over 50 percent of young drivers aged 18-24 were not checking their tyres in line with expert advice, and over ten percent were ignorant…
CNES and COFREX (Compagnie Française des Expositions) signed a partnership agreement concerning CNES’s presence in the French Pavilion at World Expo 2020 in Dubai. The World Expo in Dubai will run from October 20th 2020 to April 10th 2021. Covering 438 hectares and focused on the theme of ‘Connecting Minds, Creating the future’, broken down into three sub-themes, ‘Opportunity’, ‘Mobility’ and ‘Sustainability’, it will be the first World Expo ever held in the Middle East, Africa and South Asia region. The French Pavilion, titled ‘Light, Lights’, will be in the Mobility zone. It will reflect France’s international vision and serve…
The Moroccan Agency for Sustainable Energy (MASEN) has announced that the consortium of EDF Renewables, Abu Dhabi Future Energy Company (“Masdar”) and Green of Africa has been awarded the tender for the design, financing, construction, operation and maintenance of the Noor Midelt Phase 1 multi-technologies solar power plant. The project, which will have a total installed capacity of 800 MW, is the world’s first advanced hybridisation of concentrated solar power (CSP) and photovoltaic (PV) technologies. On completion, it will provide dispatchable solar energy during the day and until five hours after sunset for a record-low tariff at peak hours of…
Jubail Island Investment Company (JIIC) has announced the appointment of Gulf Contractors Company (GCC) to commence enabling works for the AED5 billion Jubail Island that was recently launched in Abu Dhabi. Enabling works are scheduled for completion in January 2020. Enabling works are generally associated with large-scale land development projects and entail major earthworks and grading of the site, ahead of the installation of infrastructure such as roads, utilities, and other facilities. For this significant contract, over 2.5 million cubic metres of material will be excavated and placed to create the formation level for over 40 kilometres of roadways and…
Miral, Abu Dhabi’s creator of destinations, has signed two land sales at Yas Bay with Siadah International Real Estate Development LLC, which in its turn plans to develop two residential buildings on the waterfront. Yas Bay – Yas Island’s vibrant new waterfront community to live, work and play, also includes other available residential and commercial plots for potential investors and partners. “Today, we are happy to announce that we finalised the sale of the first two plots for residential development at Yas Bay with Siadah International Real Estate Development,” said Mohamed Abdalla Al Zaabi, CEO of Miral. He added, “With…
Jumeirah Golf Estates (JGE), the world-class residential golf destination offering luxury homes and leisure facilities set amid two internationally-acclaimed championship golf courses, today announces the completion of Alandalus towers A and B. One, two, three and four-bedroom apartments in both towers have already sold out, offering large indoor-outdoor living spaces, with the handover of tower A completed earlier this year, and tower B currently being handed over to owners. Tower C is scheduled to be handed over in Q4 2019 and the remaining towers D, E, F, and G are on track for Q2 2020 handover. Designed to offer a…
Emaar Properties achieved one of the highest quarterly property sales in Dubai during the first quarter (January to March) of 2019 recording an increase of 53 per cent to AED 5.979 billion (US$ 1.628 billion) compared to the Q1 2018 sales of AED 3.906 billion (US$ 1.063 billion). The sales to international customers more than doubled in Q1 2019 to AED 2.645 billion (US$ 720 million) compared to AED 1.187 billion (US$ 323 million) in Q1 2018, highlighting the significant interest of international investors in Dubai real estate and the strength of Emaar brand. Dubai has emerged as a global…
wasl properties (wasl), a subsidiary of wasl Asset Management Group, announced the success of the company’s strategy of encouraging target groups, especially Emirati youth and small Arab families, to invest in real estate. wasl achieved its intended goals during the campaign with notable sales of its units at ‘The Nook’. wasl’s investment strategy — launched in October 2018— is tailored to encouraging the youth to save and invest in real estate to achieve balance between the fundamental necessities of life and investing in the future. The strategy revealed the emergence of millennial investors in the Dubai real estate market who…