#Abu Dhabi

Property market Abu-Dhabi-e1645007828300

Abu Dhabi: Property market transactions reach Dhs11.3bn in Q1 2022

The UAE capital’s property market recorded 3,304 transactions, with Yas Island topping the list followed by Al Saadiyat Island and Al Reem Island

Abu Dhabi

Abu Dhabi’s tourist attractions and events can now operate at full capacity

It has also approved an extension of the green pass validity period on the Al Hosn app from 14 to 30 days for those who are fully vaccinated

AD Islamic bank

Abu Dhabi Islamic Bank to set up asset management firm

The Shariah-compliant lender is also continuing to look at organic and inorganic growth opportunities for its banking business

New Takaful provider

Dubai, Abu Dhabi companies to merge to create new Takaful provider

The merged company would benefit from cross-selling opportunities via increased geographic footprint and via capitalising on larger underwriting capacity

air arabia gujarat

Air Arabia Abu Dhabi to begin flights to Indian city in Gujarat

It represents the seventh city in India that Air Arabia Abu Dhabi will connect with direct services

Etihad

Abu Dhabi’s Etihad reduces carbon footprint by 56% between 2018-2021

Etihad aims to reach net zero emissions by 2050

Dubai, Abu Dhabi office rents recovering to pre-Covid levels: Knight Frank

The recovery is led by Business Bay in Dubai, where average office rents have climbed from Dhs76 per sq ft in Q1 2020 to Dhs101 per sq ft at present

Abu Dhabi invests in Egyptian firms to help shore up economy

Egypt’s central bank held a special policy meeting in March and hiked interest rates for the first time since 2017

Mideast asset manager Investcorp seeks cash for blockchain fund

The eLydian Lion fund will be based in Abu Dhabi

UAE’s Right Farm raises $2.8m in seed funding round

DisruptAD, ADQ’s venture platform, and Enhance Ventures, the venture studio for the MENAPT region, led the seed equity funding round

UAE’s Al Seer Marine commences work on its first ‘very large gas carrier’

Lucky Gas, Al Seer Marine’s first VLGC, is expected to be completed and delivered by March 2023, with work on the second VLGC scheduled to commence in May

Agthia’s shareholders approve 8.25% cash dividend for H2 2021

The total dividends announced by Agthia for 2021 amounted to Dhs130.6m, reflecting a 9.9 per cent rise over the previous year

Abu Dhabi

Abu Dhabi reports 21.5% growth in new economic licences in 2021

There were 24,077 commercial sector licences issued in 2021, up 21.4 per cent year-on-year

Covid-19

Abu Dhabi: Covid-19 testing requirements outlined for private school students

ADEK has confirmed that all students, including those who are unvaccinated, must return to their campus in the new term

Plastic bags

Abu Dhabi to ban single-use plastic bags from June 1

The Environment Agency – Abu Dhabi will also phase out single-use styrofoam cups, plates and food containers by 2024

AirArabia-Abu-Dhabi-

Air Arabia Abu Dhabi to begin flying to additional destination in India

The low-cost carrier will start flights to the capital of Rajasthan on May 5, 2022

Abu Dhabi

Abu Dhabi’s non-oil real GDP grew 4.1% in 2021

Non-oil activities contributed 49.7 per cent of the GDP at constant prices last year

UAE developer FAM Holding plans Abu Dhabi second market listing

The company has been converted into a private joint-stock firm with a capital base of Dhs50m

Abu Dhabi’s twofour54 launches new offering for broadcasting and gaming sector

Twofour54’s new flexible, technology-driven solutions can enable production cost savings as high as 80 per cent, says the company

UAE’s ADGM and Finastra team up for ‘Hack to the Future 4’

ADGM’s hackathon is seeing participants explore innovative ideas around themes of ESG, embedded finance and decentralised finance

Container Ship

UAE’s AD Ports Group to manage operations at Egypt’s Ain Sokhna Port

A feasibility study will be conducted into the future development of Ain Sokhna Port to explore potential investment opportunities to enhance its capacity

How Abu Dhabi is offering an expansive portfolio of affordable communities

The emirate’s sustainable communities come with high projected rental yields

Smart mobility company Barq EV launches in the UAE

Barq also signed two MoUs, the first with the restaurant and food group Americana and the second with specialised automobile equipment global manufacturer Motherson

bikes abu dhabi

Abu Dhabi issues new rules for use of bicycles, micro-mobility devices in the emirate

The new rules govern the use of as well as the supply or rental of these devices to individuals and companies

Abu Dhabi: Bloom Holding’s Cordoba sells out in four hours

Cordoba, which is part of the first phase of Bloom Living in Abu Dhabi, is scheduled for completion by the fourth quarter of 2024

ADNOC Distribution approves H2 2021 dividend of Dhs1.285bn

This brings the total dividend for 2021 to Dhs2.57bn

Abu Dhabi’s Multiply Group to invest Dhs367m in DEWA IPO

In 2021, Multiply Group acquired stakes in UAE-based assets and international high growth firms such as Firefly, Savage X Fenty, Getty images and Viola

Alpha Dhabi invests Dhs367m in DEWA’s IPO

The investment has been made through its subsidiary Alpha Dhabi Partners Holding

Hub71 leads Dhs1.5bn investments for Abu Dhabi startups

Hub71 businesses have a combined worth of Dhs5.87bn, and almost 1,000 jobs have been generated since its establishment in 2019

Natural History Museum Abu Dhabi

Abu Dhabi to open Natural History Museum in 2025

The museum, currently under construction, is located in the Saadiyat Cultural District