Browsing: Business

Shuaa Capital’s board of directors has approved an increase in the company’s share capital after issuing mandatory convertible bonds (MCBs). This move aligns with the firm’s strategy to strengthen its financial position and capital structure.

Abu Dhabi’s Mubadala Investment Company has injected new capital into the US alternative real estate commercial lender 3650 as part of a recent funding round.

Abu Dhabi has announced housing benefits worth AED 6.75B to support 4,356 citizens across the emirate, coinciding with the Eid Al Fitr celebrations.

As part of its commitment to enhancing global competitiveness and promoting community well-being, the Real Estate Regulatory Agency (RERA), a subsidiary of Dubai Land Department (DLD), launched the ‘Tayseer’ initiative to facilitate the payment of currently outstanding service fees. Under this initiative, unit owners can pay their outstanding service fees by offering flexible payment plans with a minimum of six months in coordination with jointly owned property (JOP) management companies. This step is expected to ease financial burdens on owners and contribute to greater financial stability within the real estate sector.

Dubai Chambers Chairman Eng. Sultan bin Saeed Al Mansoori met with India’s Ambassador to the UAE, Sunjay Sudhir, to discuss enhancing trade and investment relations. The meeting, held at Dubai Chambers’ headquarters, was also attended by Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers.

EHC Investment, through its energy arm Emirates International Gas (EIG), has fully acquired Al Fanar Gas Group, Abu Dhabi’s largest gas distributor and a leading service provider in the UAE.

Dubai-based digital technology company VEON Ltd. has successfully secured a $210 million syndicated loan with a two-year tenure. A consortium of lenders, including ICBC Standard Bank and several prominent banks from the Gulf Cooperation Council (GCC) region, arranged the financing.

Abu Dhabi’s office and industrial property markets are experiencing strong growth, with rental rates rising due to increasing demand, regulatory changes, and active development, according to Savills Middle East.

Emaar Development PJSC (DFM: EMAARDEV) held its Annual General Meeting (AGM), where the Board of Directors reviewed the company’s financial performance for 2024 and discussed its future growth strategy.

The Emirates Group has partnered with Moro Hub, a subsidiary of Digital DEWA, to utilise co-location services at the Mohammad Bin Rashid Al Maktoum Solar Park. Moro Hub, recognised by Guinness World Records™ as the world’s largest solar-powered data centre, will host the Group’s infrastructure.