SEDCO Capital, a global Shariah-compliant and ESG-led asset management and investment advisory firm (or “the Firm”) has successfully exited its SEDCO Capital Built-to-Suit Real Estate Fund I (or “the Fund”), delivering a 41% net return on invested capital. The Fund commenced operations in mid-2018, acquiring two education- zoned plots – in Jeddah’s Al-Shati District – to develop two educational campuses (on a Built-To-Suit basis) for girls and boys (“the Properties”) to be operated by Al-Yusr International School Company (“the Tenant”). Following growing market interest in acquiring the Properties, the Fund’s Board approved their divestment in line with the Fund’s exit…
Author: Kasun Illankoon
Imdaad, a Dubai-based group of companies providing integrated, sustainable facilities management (FM) services to enhance operational efficiencies of physical assets, today announced that it has become an official member of IAAPA, the premier trade association representing the diverse and ever-changing attractions industry. The decision to join the international body comes as part of Imdaad’s strategy to expand its business and customer base further and play a greater role in the growth and development of the UAE’s tourism and leisure sectors. Imdaad joins a strong network of IAAPA members in the UAE. The global association serves over 115 companies in the…
Arada has introduced ultra-luxury home sales for the first time in Sharjah with the launch of Sarai, the fifth phase at its woodland megaproject Masaar. With prices starting from AED20 million, the inclusion of a limited selection of 36 mansions in this phase of the fast-selling development comes amidst growing demand for ultra-luxury properties both in Sharjah and across the UAE. The exclusive Sarai district offers two types of six-bedroom mansions spread over three or four floors, providing increased privacy with all homes offering high-ceiling foyers; expansive terraces and lounges; spacious gardens and English courtyards; basements with home entertainment, gyms…
As the region strives to accelerate progress towards a gender balanced workforce, Amazon outlined its paid parental leave policy that benefits all employees across UAE, Saudi Arabia, Egypt and Jordan, who have become new parents, regardless of gender. Reiterated in celebration of International Women’s Day, the inclusive policy offers both parents who have completed one year of service, paid parental leave for up to 6 weeks within the first year following the birth of a child. Birth mothers can choose to add the 6 weeks of parental leave to their 14 weeks of maternity leave to avail 20 weeks of…
Metito Utilities Limited (MUL), a global investor and operator of water, wastewater, and alternative energy management solutions, and British International Investment (BII), the UK’s development finance institution and impact investor, announced the launch of their new company Africa Water Infrastructure Development “AWID”, a first-of-its-kind platform to develop climate-smart water projects at scale and to increase water security across Africa. The official launch of AWID took place at the British Embassy in Cairo, and was hosted by the British Ambassador, Gareth Bayley; MD and Head of Africa for BII, Chris Chijiutomi and Metito MD, Rami Ghandour. The launch was attended by…
After careful deliberation we can now announce the shortlist for the CBNME MEP Awards 2023 is officially released. The winners and highly commended will be announced on March 20th at Sofitel the Palm, Dubai. CBNME MEP Awards 2023 is one of the leading events applauding the achievements of the region’s construction professionals. The awards strive to recognise individual excellence, corporate strengths, and project success. Companies are invited to nominate the people, projects, and initiatives of which they are most proud of. MEP Contractor of the Year ALEMCO China State Construction Engineering Corporation Orascom MEP Consultant of the…
Dake Rechsand, the Dubai-based company specializing in sustainability solutions for desert farming and water conservation, showcased the revolutionary potential of Sponge Cities in mitigating floods and addressing water scarcity — two utmost priorities for the UAE. Sponge Cities, promoted by Dake Rechsand through its proprietary IDer range of solutions, was presented at the Innovation Week hosted by the UAE Ministry of Energy and Infrastructure (MOEI). Sponge City is a new urban development model aimed at creating sustainable and resilient urban environments through permeable roads, honeycomb water storage, rain gardens, and groundwater recharging. Such technologies manage stormwater and reduce runoffs, thus…
Royal Philips, a global leader in health technology, today released its first Health Trends Research United Arab Emirates (UAE) findings, shedding light on the state of local healthcare. Philips commissioned Censuswide, an independent market research consultancy, to conduct the study aimed to equip healthcare providers with insights into current health trends and public perceptions of healthcare in the UAE – enabling them to adapt to these shifts in demand to address immediate priorities and future needs. “At Philips, we believe that the study validates that the UAE is well-positioned to transition its healthcare approach from sick care, which has historically…
Having recently delivered the world’s first off-grid micro-grid at the Mohammed bin Rashid Al Maktoum Solar Park in Dubai, ALEC Energy today furthered its resolve to advancing innovation in clean energy production, by partnering with Solar Earth, to introduce the world’s most rugged pavement integrated photovoltaic (PIPV) solution — touted as the ‘Toughest Solar on Earth’ — to the region. This will enable governments and private enterprises to confidently carry out wide scale solarization of every hardscape infrastructure such as pavements, roads, plazas, and parking lots, turning these into clean energy generating assets. “While the GCC has been blessed with…
Dubai Holding, a diversified global investment company with a presence in over 13 countries, announced that it has partnered with the UAE Gender Balance Council to commission a research study to identify priorities and challenges faced by women working in the UAE’s private sector. The announcement was made during a Group-wide employee event held to mark International Women’s Day 2023. By highlighting priorities for advancement and providing actionable insights and recommendations to address some of the challenges women face in the private sector, the study will fill an important research and data gap in the market. The research study…