Dubai’s Department of Economy and Tourism (DET) has launched the ‘Dubai Sustainable Tourism Stamp’, a new sustainability initiative that seeks to recognise hotels with the highest adherence to DET’s 19 ‘Sustainability Requirements’.

The initiative, launched in line with the UAE Year of Sustainability, is part of DET’s commitment to strengthening Dubai’s position as a leading sustainable tourism destination.

Developed in collaboration with Dubai’s hospitality sector, the new stamp is designed to accelerate efforts towards empowering the tourism sector to achieve its sustainability goals and support the UAE’s NetZero 2050 initiative. As Dubai continually strives to achieve the objectives outlined in the Dubai Economic Agenda, D33, the initiative will contribute to further consolidating the city’s status as one of the top three global destinations.

The Dubai Sustainable Tourism Stamp will serve as a validation of the hotel’s dedication to sustainability and showcase its sustainable practices. To obtain the stamp, hotels of all classifications must meet the highest standards of DET’s 19 Sustainability requirements, which include criteria such as energy and water efficiency, waste management programmes, and staff education and engagement initiatives. The accreditation process will be overseen by a committee of senior industry professionals to ensure integrity and independence, with the initiative designed based on global best practices.

The stamp will feature a three-tier scheme with the categories Gold, Silver and Bronze. Nominations for hotel establishments to obtain the Dubai Sustainable Tourism Stamp will begin on 3^rd August and end on 31^st August.

Yousuf Lootah, Acting CEO of Corporate Strategy and Performance sector, Dubai’s Department of Economy and Tourism, stated: “As part of our efforts to transform Dubai into a leading sustainable tourism destination in line with the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to make our city the best place in the world to visit, live and work in, the Dubai Sustainable Tourism Stamp champions sustainable practices while setting a benchmark for excellence in environmental stewardship, aligned with the goals of the Dubai Economic Agenda 2033. We have carefully curated a set of high standard criteria that will reward hotels that go ‘above and beyond’ in their sustainable practices. By recognising these exemplary establishments, we are encouraging others to follow suit and embrace sustainable initiatives that not only benefit their businesses but also contribute to the collective well-being of our city and the world at large.

“Supported by Dubai’s vibrant hotel industry, this initiative is a strategic step towards achieving our goal of making Dubai a leading destination for global travellers seeking the ultimate sustainability experience. By supporting businesses and encouraging them to adopt eco-friendly practices and reducing their carbon footprint, we are not only safeguarding the environment but also promoting sustainable growth.”

As Dubai prepares to host the 28th Conference of the Parties (COP28), the UN Climate Change Conference from 30^th November to 12^th December this year, the launch of the Dubai Sustainable Tourism Stamp also demonstrates the tourism industry’s foresight and determination to foster an eco-friendly sector that is both economically prosperous and environmentally responsible.

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Khalifa Economic Zones Abu Dhabi (Kezad Group), the largest operator of integrated and purpose-built economic zones in the UAE, has commenced the upgrade and revamp of the road network and facilities across an area of 40,000 sq. m. in Kezad Musaffah (ICAD 1).

The AED55m ($14.97 million) project includes repairs and tarmac recarpeting of 23 km of roads within Kezad Musaffah (ICAD 1), as well as widening of junctions, enhanced road markings and lighting, in addition to hard landscaping and provision of new bus stops.

The enhancements are aimed at significantly improving the flow of traffic and facilitating the movement of goods to and from the area. The project is being executed in coordination with relevant government agencies such as the Abu Dhabi City Municipality and Integrated Transport Centre, among others, as well as the businesses operating in the area – to ensure the smoothest possible workflow at an accelerated pace.

The project is also planned to be completed in phases, so as to avoid causing organisational or movement challenges to businesses operating in the area.

Mohamed Al Khadar Al Ahmed, CEO Khalifa Economic Zones Abu Dhabi – Kezad Group, said: “Kezad Group is continually looking for ways to improve the business experience of our clients. By improving our road network systems and facilities in Mussafah, we are providing our existing clients faster and more efficient world-class connectivity, in addition to sustainable and high-quality infrastructure with global standards, that meets their requirements, in line with the vision of the wise leadership. The upgradation of the vital industrial area in Kezad Musaffah (ICAD 1) will go a long way in reinforcing Abu Dhabi’s position as an advanced economic and industrial hub, which plays a key role in the development of the emirate’s economy.”

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Deyaar Development has begun construction on its three plots in Al Furjan comprising of Millennium Talia Residences, Amalia Residences, and development of a third plot which will be announced soon.

The total value of the project will be approximately AED 300 million, and once completed, the three plots will comprise residential units and hotel apartments and will include approximately 371 diverse units consisting of one, two and three bedrooms.

“We are pleased to announce the commencement of construction works for these important projects in the Deyaar portfolio at the heart of Al Furjan, one of Dubai’s most up-and-coming districts,” said Ayman Al Hammadi, SVP – Development at Deyaar.

“The start of construction for a project of this magnitude is always an essential milestone, as we seek to engage reputed parties with a proven track record in delivering projects on time and to the highest standards. This vital step reflects our steadfast commitment to delivering world-class quality and on-time completion for these three projects in Al Furjan. As with all our projects, we will provide our investors with construction updates and keep them posted on the key milestones of Millennium Talia Residences and Amalia Residences as they unfold.”

Millennium Talia Residences will feature exquisitely designed and elegantly furnished hotel apartments operated by Millennium Hotels & Resorts. Strategically situated at a convenient location in Al Furjan, one of Dubai’s most popular and vibrant districts, Millennium Talia Residences is poised to set a new standard of hospitality living within the community. The project will be the fourth property managed by Millennium Hotels & Resorts under Deyaar’s extensive portfolio, following Millennium Atria Business Bay, Millennium Mont Rose at Dubai Science Park and Millennium Al Barsha.

Amalia Residences will offer a variety of modern and spacious residential units suitable for families, consisting of one, two and three bedrooms. The project will provide a wide range of amenities for residents, including swimming pool, children’s pool, play area, and gym.

The project’s location between Sheikh Zayed Road and Sheikh Mohammed Bin Zayed Road offers convenient access to public transportation, Dubai’s business districts and major tourist attractions. Al Furjan is seamlessly connected to some of Dubai’s best-known malls, education and healthcare facilities, entertainment hubs, beaches, parks and more.

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Saudi state mining giant Ma’aden and US-based Ivanhoe Electric have closed a deal to investigate 48,500 sq km of under-explored lands in the Arabian Shield for “critical minerals” that are key to powering the global energy transition.

Surveys could begin as soon as September in the new joint venture, which is worth nearly $130 million, reports AGBI.

The Saudi region – roughly the size of Switzerland – is understood to be rich potential for critical minerals such as copper, nickel, gold, silver and possibly lithium.

Lithium is of great interest to Saudi Arabia as it is a key component of EV batteries. The kingdom wants to develop a significant industry around electric vehicles and to produce 500,000 electric cars a year by 2030.

Last month, Australian startup European Lithium and Saudi Arabia’s Obeikan Investment Group announced a joint venture to build and operate a lithium hydroxide refinery in Saudi Arabia.

A long-term supply agreement has also been signed with BMW.

The plan builds on an agreement signed in 2021 with EV Metals Groups to build a battery chemicals complex in Yanbu Industrial City in Al Madinah.

Refinery ambitions

Ionut Lazar, principal consultant at CRU Consulting, told AGBI that Saudi Arabia could play a big part as a primary processor.

He said the kingdom is considering development of a large-scale copper smelter, plus smelters or refineries for silicon, aluminium and nickel.

“The kingdom continues to offer attractive power tariffs and financial incentives to create industrial clusters,” Lazar explained. “These advantages have attracted market-leading players to the region.”

Experts believe that while Saudi Arabia has enough mined copper to justify smelting facilities, the prospects for critical mineral refining projects that would rely on imported material are less certain.

Christopher Ecclestone, strategist and principal at Hallgarten & Company, said Saudi Arabia might have the funds to become a player but not yet the expertise.

“They need to put their money where their mouth is and quickly,” he said, referring to a fund set up by Ma’aden and the Public Investment Fund earlier this year to invest in mining assets overseas.

Initially sized at $50 million, the fund could grow to over $3 billion, the two parties said in January.

 A quickly growing market

Last week, the International Energy Agency (IEA) said the market for minerals that help power electric vehicles, wind turbines, solar panels and other technologies key to the clean energy transition has doubled in size over the past five years.

It said record deployment of clean energy technologies is propelling huge demand for minerals such as lithium, cobalt and nickel.

From 2017 to 2022, demand for lithium has trebled, while cobalt (70 percent) and nickel (40 percent) have also gained. The market for energy transition minerals reached $320 billion in 2022.

Saudi Arabia sees mining as central to its Vision 2030 strategy to diversify its economy outside of fossil fuels. The kingdom values its mineral wealth at more than $1.3 trillion.

Luxembourg’s Eurasian Resources Group is investing an initial $50 million to large-scale, early-stage exploration for battery transition minerals in the Ad Dawidimi region.

CEO Benedikt Sobotka told AGBI: “If we are to meet the increasing demand for secure, sustainable and responsible mining, we must first invest in territories that have been previously overlooked and under-explored – that’s why ERG made a significant investment into Saudi Arabia.”

He added: “The potential for establishing state-of-the-art processing facilities for critical battery metals is extremely important. Such effort would align with the kingdom’s comprehensive industrial development strategy and help bridge the gap — improving sustainable access across the sector.”

To date, the production of critical minerals is highly concentrated geographically, raising concerns about security of supplies.

The Democratic Republic of Congo supplies 70 percent of cobalt and Indonesia has 40 percent of nickel. Australia accounts for 55 percent of lithium mining and Chile for 25 percent, according to the IEA.

Processing of these minerals is also highly concentrated. China, for example, is responsible for refining 90 percent of rare earth elements and 60-70 percent of lithium and cobalt.

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Dubai Properties has launched the final phase of its master development community in Dubailand.

Mudon Al Ranim will offer a selection of 182 townhouses comprising three- and four-bedroom layouts, available in either G+1 or G+2 floor plans.

Unveiling the crucial phase, the Dubai master developer said that, with this project, it aims to take the residents’ living experience to new heights by incorporating additional layers of quality, all within an impressively competitive pricing structure. The overall style of the development is itself unusual, with a collection of meticulously designed single-row townhouses challenging accepted design norms and offering more space, privacy and greater quality of life.

The villas and townhouses are complemented by a wide range of amenities including restaurants, shops, clinics, jogging tracks, landscaped parks and sports fields. Mudon is designed to cater to families, offering a harmonious blend of comfort and convenience and a strategic location with easy, all-round access, being situated at the intersection of Al Qudra Road and Emirates Road (E611).

Khalid Al Malik, the CEO of Dubai Holding Real Estate, commented that: “Mudon Al Ranim exemplifies our unwavering commitment to meeting the ever-evolving needs of homeowners.  Our design philosophy is not to follow, but rather to lead the market. Recognising the demand for space, privacy and flexibility, even in the new normal, we have carefully designed homes that offer residents a sanctuary for work and play, all within the confines of their own homes. With meticulous attention to detail, the Mudon Al Ranim community encompasses highly coveted features typically found in larger, premium villa developments. These include floor-to-ceiling windows that provide stunning views of a private garden, while double-height ceilings amplify the sense of space and invite the serene surroundings to become a part of the interior landscape. Residents of Mudon Al Ranim will be able to enjoy an array of exceptional amenities focused on well-being and leisure.

“The development features fitness stations, kids’ play areas, picnic spots, BBQ areas, family and kids’ swimming pools, jogging tracks, dog parks, volleyball courts, basketball courts and meditation areas – providing ample spaces for relaxation, socialising and maintaining an active and healthy lifestyle.”

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Aldar Properties (Aldar) has announced an AED500m ($136m) investment plan to redevelop two of its key retail portfolio assets in the UAE: Al Jimi Mall in Al Ain, and Al Hamra Mall in Ras Al Khaimah.

This investment will take Aldar’s committed spend on redeveloping key retail assets to AED1bn ($272.2m).

The company has approved a redevelopment plan for Al Jimi Mall to enhance the customer journey and reinforce its position as the mall of choice for residents and visitors in Al Ain.

The plan aims to increase the Gross Leasable Area (GLA) by 20 percent to 91,000 sq.m. and introduce new anchor retailers, premium international brands, and popular food concepts. The mall will remain open to customers with the project expected to be fully completed by Q1 2025.

Following a successful acquisition of Al Hamra Mall in February 2022, Aldar’s redevelopment plan for the mall reimagines its spaces through a refurbishment of the façade, expanded F&B offerings, and the introduction of additional well-loved brands.

With work already underway, the project is being rolled out in phases and is set to be completed in mid-2024.

The investment announcement follows the culmination of Yas Mall’s AED500m redevelopment plan announced in 2021, which resulted in the successful transformation of the mall in terms of enhanced visitor journey and improved operating and financial performance.

Announcing the new investment plans, Saoud Khoory, Chief Retail Officer at Aldar Investment, said: “Our investments in Al Jimi Mall and Al Hamra Mall enable us to cater to evolving customer needs and create vibrant retail destinations for all, in line with global retail trends. The redevelopment plan for Al Jimi Mall is a game-changer for the retail scene in Al Ain and helps us deliver long-term value for the community. We are also delighted to be furthering our investment in Ras Al Khaimah as the emirate continues to show strong growth potential as a hospitality, tourism, and residential destination. Both investments further solidify Aldar’s commitment to enhance its retail portfolio and continue developing world-class shopping, dining, and entertainment destinations across the UAE. Across the malls, guests will be welcomed in a fully upgraded façade as well as a new valet parking area and drop-off locations. To deliver a seamless journey, the common areas will also be fully refurbished, including but not limited to corridors, welcome desks, facilities, and the implementation of digital way-finding solutions.”

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UAE-based developer Bloom Holding has announced that work is moving at a steady pace on its hotel apartments project – Bloom Arjaan by Rotana – which is due to open in Q4 next year.

Located in Bloom’s Park View on Abu Dhabi’s Saadiyat Island – and managed by Rotana Hotel Management Corporation – units at this key development range from studios to one- and two-bedroom hotel apartments with sizes spanning from 44 to 114 sq. m.

According to Bloom, this sophisticated development typifies the idea of a ‘second home’, with a hotel experience in the form of hotel apartments featuring a variety of luxury amenities. These include a state-of-the-art fitness centre, ample green spaces, and a floating infinity swimming pool, located 30m above ground on a bridge connecting the two main buildings.

Residents can also enjoy the hotel’s restaurant and a range of retail, food and beverage outlets which include several renowned eateries and cafés.

On the upcoming project, CEO Carlos Wakim explained that it will be thoughtfully designed to deliver the comfort of a home, but with all the conveniences of a hotel – including intuitive technology and professional services.

“Part of the vibrant Park View development on Saadiyat Island”, he said, “it enjoys a prominent location in the heart of the capital’s cultural district and sits across from the world-renowned New York University Abu Dhabi. The strategic location of Bloom Arjaan by Rotana makes it a sought-after destination for university students, professors and their families, alongside the usual guests attracted by the Saadiyat island’s lifestyle and offerings.

“Bloom Arjaan by Rotana offers a developer-backed guaranteed return of investment of up to 8% over 5 years, which falls in line with our commitment to delivering unparalleled products and creating value for our customers. Our partnership with Rotana will bring a new offering to Abu Dhabi’s real estate and hospitality sectors providing high returns on investment in sought-after locations such as Saadiyat Island.”

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Acwa Power, a developer and operator of power generation and water desalination plants worldwide, has signed an agreement with Egypt’s New and Renewable Energy Authority (NREA) to construct a 10 gigawatt (GW) wind project near the city of Sohag.

The wind power plant is expected to provide the Egyptian economy with annual savings of $6.5bn in natural gas costs – as well as securing up to 120,000 job opportunities. Under the deal, NREA will allocate approximately 3,000 sq km of land.

On completion, the wind project is expected to generate around 50,000 GW-hours of clean energy annually, providing electricity to around 11 million households and mitigating the impact of 25.5 million tonnes of carbon emissions each year.

A leading player in the region’s utilities sector, Acwa Power has had a major presence in Egypt since 2015.

The company has three other facilities in Egypt, that are either in operation, under construction or in advanced development, including a 120 MW solar PV project in Benban, a 200 MW solar PV facility in Kom Ombo, and the 1.1 GW Suez Wind Energy project.

Speaking at the signing ceremony, Dr Mohamed Shaker Al Marqabi, the Minister of Electricity and Renewable Energy, said: “Egypt has adopted an ambitious programme to advance the electricity sector in various fields, which includes maximising the utilisation of new and renewable energy resources, encouraging investment in these fields to enable energy independence from fossil fuels, continuing to reduce carbon emissions, and increasing renewable energy capacity in the energy mix up to 42% by 2035. This focus also aligns with Egypt’s Vision 2030 and the National Climate Strategy 2050 with a view to mitigating the impact of climate change challenges and achieving sustainable economic growth.”

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The Abu Dhabi Department of Municipalities and Transport (DMT) has revealed that foreign direct investment (FDI) in the real estate sector ‘soared’ to AED 834.6 million during the first half of 2023.

This represents a record growth rate of 363% compared to the corresponding period last year, said the authority.

Responding to the explosive growth in the UAE capital, His Excellency Dr. Adeeb Al-Afifi, executive director of the Real Estate Sector, DMT urged the city to continue to build a comprehensive and enticing real estate ecosystem for foreign investors, “characterised by streamlined processes and seamless government service experience that facilitates the flow of foreign direct investments into the real estate sector in Abu Dhabi.”

At 34% growth, Saadiyat Island proved to be the most popular area with Yas Island (28%), Al Jurf (12%), Al Reem Island (11%), and Al Shamkha (8%) also attracting investors.

“We are thrilled to announce the remarkable surge in foreign direct real estate investments in Abu Dhabi,” added Al-Afifi.

“The astounding 363% growth witnessed during the first half of this year is a testament to the emirate’s exceptional appeal to foreign investors. This includes its strategic location, world-class infrastructure, and supportive economic and legislative environment, all of which have contributed to enhancing the emirate’s position as a preferred destination for individuals of all nationalities to invest, live, and work.

“Abu Dhabi’s investment climate, bolstered by encouraging incentives and robust legislative and regulatory frameworks, has created a nurturing and stimulating environment for foreign investors pursuing promising prospects in the real estate market. Moreover, the emirate’s unwavering commitment to adopting sustainable development policies, innovation, economic diversification, and environmental sustainability has significantly enhanced its ability to attract foreign direct real estate investments.”

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A new partnership between Conares and C&D should provide the GCC with access to a wide range of top-grade Chinese steel products in industries, including construction, infrastructure development, and manufacturing, say both parties.

Conares, the second-largest private steel manufacturer in the UAE, has partnerd with C&D, a Fortune Global 500 company focused on supply chain operation services and real estate development based in the city of Xiamen, China.

This “groundbreaking collaboration will empower” the Chinese corporation to distribute high-quality steel from China in the GCC region, strengthening trade ties between them, they said in joint statement.

The official signing of the partnership took place at Conares’ state-of-the-art steel plant in the Jebel Ali Free Zone (JAFZA) in Dubai. Zheng Yongda, general manager of Xiamen C&D Corporation Limited & Deputy Party Secretary and Bharat Bhatia, chairman and CEO of Conares, was also present, accompanied by other distinguished guests and senior executives from Conares.

“We are happy to join hands with C&D in bringing Chinese steel to the GCC region,” said Bhati.

“This collaboration represents a significant milestone for both Conares and C&D, as we leverage our respective strengths to foster economic growth and enhance trade relations. By combining Conares’ expertise in steel manufacturing with Chinese steel, known for its exceptional quality, stable quantity and wide variety we aim to cater to the rising demand for steel products in the GCC market.”

Yongda further added: “Our new partnership with Conares is invaluable to us and we look forward to working with them to expand the distribution of Chinese steel in the GCC region. This collaboration signifies a new chapter of cooperation between C&D and the UAE, and we are confident that our high-quality steel products will contribute to the development and growth of various industries in the region.”

The GCC region has witnessed remarkable growth in recent years, driving the demand for steel products to new heights. Conares, with its advanced manufacturing facilities and commitment to delivering excellence, claims to be well positioned to cater to this demand. The partnership with C&D enables Conares to expand its product portfolio and ensure a steady supply of high-quality Chinese steel to meet the region’s evolving needs, it added: “Conares remains steadfast in its dedication to supporting the UAE’s vision of economic diversification and sustainable development. By partnering with C&D, Conares is reinforcing its commitment to fostering international collaborations that drive innovation, strengthen economies, and contribute to the overall prosperity of the GCC region.”

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