Investalk Q3 2022: Dubai Investments

It is indeed an interesting time to be part and to be contributing to such a dynamic economy. UAE’s Gross Domestic Product (GDP) – one measure of how an economy is faring – is expected to reach 7.6 percent in 2022, the IMF said, the fastest growth the country has seen in almost a decade according to a latest report.

With the acceleration of the national vision in the region, enhancing and driving the non-oil sectors and with a significant pipeline of infrastructure developments planned across the region, Dubai Investments is channelising its efforts towards capitalising on the incredible opportunities the region has to offer.

As a Group, alongside our strategic commitment to continue focusing on the real estate sector as a key driver of growth, we will concentrate on acquisitions and exits that complement and expand our portfolio and are in sync with the Group-wide strategy to strengthen presence geographically whilst exploring potential markets.

The Group is consolidating the local and the regional footprint in a way that enhances customer centricity and agile decision making.

Another key priority is to establish strategic partnerships focused on value creation to successfully implement larger and complex projects across various infrastructure sectors.

Let us together continue to move steadily as a group with a continuous and a consistent growth.

Sincerely,

Khalid Bin Kalban
Vice Chairman & CEO

NEWSMAKERS

GLOBALPHARMA

Paving the way forward

Higher committee in pharma sector selected Globalpharma’s project proposals (out of 30+ entries) confirming the UAE’s contribution to the Industrial partnership with Egypt, Jordan & Bahrain

Marching beyond borders

Explored partnership opportunities with Indonesian pharmaceutical sectors

Driving new synergies

Senior management met with Rafed and team- Leaders in Supply chain management - and discussed its vision, future expansion plans and introduction of new molecules

Setting up benchmarks

Hosted an inspection visit from Libya Ministry of Health (MOH) and received positive feedback on its operations matching the international standards

Strengthening business

Conducted series of meetings in Iraq to support business needs

Staying on top of the game

Lean and Six Sigma - Green Belt program was conducted for industrial affairs staff to certify the team with Green Belt

EMIRATES BUILDING SYSTEMS

Making strides in Dubai

Bagged a 50,000 M² of re-engineered warehouses project with mezzanines and offices in Dubai

Spreading wings in Africa

Appointed agents in African countries aiming to expand operations in the global markets and increase market share

Growing in the East

Won 160,000 M² project in Asia

Firming up presence in Ghana

Won the new pharmaceutical factory project in Ghana - Africa

Expanding the credentials

Acquired CE Marking certification

Stepping up the business in Oman

Awarded with the Calcined Petroleum Coke (CPC) Plant in Sohar, Oman with a total area of 24,000 M²

EMICOOL

Getting more recognition

Emirates District Cooling has been awarded Cooling As A Service (CAAS) agreement by SAGA International Owner Association for ESCAN Tower in Dubai Marina

Adopting cutting-edge technology

Leads way as the first district cooling provider using the innovative Distributed Temperature Sensing Technology which helped reducing chilled water network losses by almost 70% compared to previous years.

Emirates Glass

Innovative partnership

Emirates Glass partners with SCHOTT to provide internationally accredited Fire Resistant Glass

Cooling it in Kuwait

Sabah Al Kaleem Kuwait University project shapes up with Emicool DSRII series

Another feather in the cap

Sky Garden by Al Khoory Hotels marks another addition to Emicool NN series projects

Highlighting our abilities

Four-member delegation from federation of Egyptian Industries visited to discuss potential ways of business cooperation

Becoming the chosen one

The Solite series are the most favored by UAE architects and used on Anwar Gargash Diplomatic Academy Project and Esplande Mall in the UAE

EMITECH

Joining forces to reach new heights

Signed a Memorandum of Collaboration with Dubai Investments Group Companies EBS and Gulf Dynamic Services along with RAQ Contracting Company and DAIKIN Air Conditioning and Solutions for a strategic collaboration on a major project in Dubai worth AED 200 million, facilitating end to end solutions

AL MAL CAPITAL

Distributing Dividend

Al Mal Capital REIT fund announced the Half-Yearly Dividend Distribution

Best Regional Asset Management Firm for HNWI’s

Al Mal Capital PSC won the award as the Best Regional Asset Management Firm for HNWI’s in the Wealth & Investment Summit Awards 2022

MIRDIF HILLS

Being loved by all

Mirdif Hills Avenue is almost 100% occupied

GULF DYNAMIC SERVICES

Fitting-up the best

Wins turnkey fit out works for ‘The Opus’ project by Omniyat properties

Dubai Investments Park

Building future champions

Durham School, a new school opens in Dubai Investments Park, adding to the park’s existing five schools

KNOWLEDGE CORNER

FOR THE 11TH YEAR IN A ROW, UAE VOTED TOP COUNTRY TO LIVE IN: AYS

Arab youth have named the United Arab Emirates (UAE) as the country they would most like to live in and the nation they would like their own country to emulate, for the 11^th straight year.

UAE’s growing economy, leadership, safe environment, generous salaries and work opportunities are the main reasons for its ranking as the top place to live. UAE scores highly on all the issues such as job opportunities, education quality and the preservation of the region’s cultural traditions and values.

UAE'S NEW LABOR LAW: THE JOB-SHARING MODEL

Article 7, referred to as the new Labour Law, describes the many employment opportunities available to people, including full-time, part-time, and temporary work. The article also allowed for the inclusion of additional employment models following future executive regulations.

Better employment chances come with the new job-sharing concept. Even if the idea of work-sharing is still in its early stages, it is projected to help job searchers find options for jobs in the UAE. A contract with the corporation states that the shared job model effectively allows two workers to split the work and compensation.

If employers accept it, this working style seems to have the potential for innovation because it is dynamic.

SUSTAINABILITY

Dubai cuts plastic bottle use by over 3.5 million in six months

Since Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of The Executive Council of Dubai, introduced the movement in February, 46 fountains have been set up in various locations, including public parks, beaches and tourist attractions.

The fountains are now in neighbourhoods like Kite Beach, Dubai Marina, JLT, Downtown Dubai, Dubai Harbour, Madinat Jumeirah, Dubai Festival City, Khawaneej, and others.

Parched UAE turns to science to squeeze more rainfall from clouds

The UAE, located in one of the hottest and driest regions on earth, has been leading the effort to seed clouds and increase precipitation, which remains at less than 100 millimetres (3.9 inches) a year on average.

The effects of climate change, combined with a growing population and economy diversifying into tourism and other areas have pushed up demand for water in the UAE, which has relied on expensive desalination plants that make use of seawater. "Cloud seeding increases rainfall rates by approximately 10% to 30% per year... According to our calculations, cloud seeding operations cost much less than the desalination process," Abdullah Al Hammadi, head of rain enhancement operations in the UAE's National Centre for Meteorology, said.

Green Visa

Travelling and settling in the United Arab Emirates (UAE) has now become easier for high-net-worth individuals, entrepreneurs and highly skilled professionals, as the UAE government has announced several visa and entry permit reforms. These reforms include the opening of the five-year Green Visa. The five-year Green Visa comes in addition to the popular Golden Visa and multiple-entry five-year tourist visa. The new reforms and the five-year Green Visa will come into effect from September 2022.

Be aware of Rental law

Whether you are a tenant or a landlord, you should be aware of these six rental regulations following the rental law of the Emirates of Dubai. If tenants fail to fulfil these rules, they can get ousted from the property.

Paying rent on the due date with the assurance of proper maintenance of the rental property
Paying a security deposit
Handing over the property in the same condition as it was at the time of the rental contract
Paying off government taxes or fees if needed
Not to remove any alternation of the rental property while handing it over

Expo city opening

The Vice President, Prime Minister of UAE, and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum announced the Expo 2020 legacy site in June. The organizers called it Expo City Dubai journey's first chapter on Monday. Visitors can start experiencing it from September 1, although the Expo 2020 legacy site will fully open on October 1.

Terra and Mobility, the two pavilions, will open for visiting before the full relaunch in a phased launch. Each ticket would cost Dh50 per person to visit each pavilion. You can visit the site by taking a taxi or bring your car and park it there.

Launch of Lunar Rover

The United Arab Emirates will launch its first lunar rover in November, the mission manager said on Monday. Hamad Al Marzooqi told The National, a state-linked newspaper, that the "Rashid" rover, named for Dubai's ruling family, would be launched from the Kennedy Space Centre in Florida sometime between Nov 9 and Nov 15.

The rover is to be launched aboard a Falcon 9 SpaceX rocket and deposited on the moon by a Japanese ispace lander.

DI – INVESTALK
Q3 2022