Daily Archives: February 12, 2024

Real Estate

Emaar, The Economic City partners with hopOn to launch new ‘Mobility Solutions’ for smart transportation

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Emaar, The Economic City partners with hopOn to launch new ‘Mobility Solutions’ for smart transportation

  • The partnership with hopOn was announced during KAEC’s participation at PIF Private Sector Forum

11 February 2024- Emaar, The Economic City, the master-developer of King Abdullah Economic City (KAEC), has entered into a strategic partnership with hopOn, a fast-growing smart city solutions provider for public and shared transportation. This partnership marks a significant step towards enhancing sustainable mobility solutions – including providing smart transport and smart parking – with a focus on sustainability and carbon neutrality in line with Saudi Vision 2030, within the KAEC community.

The official agreement was signed last week in Riyadh by Cyril Piaia, CEO of Emaar, The Economic City, and Jamil Naji Jamjoom, Co-Founder and CEO of hopOn, in the presence of Mansour Al-Salem, Managing Director of Emaar, the Economic City alongside other key representatives, at the two-days Public Investment Fund (PIF) Private Sector Forum.

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Business & Investments

UAE Banks Federation organises awareness seminar on corporate tax

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UAE Banks Federation organises awareness seminar on corporate tax

Abu Dhabi, United Arab Emirates; 10 February 2024:

UAE Banks Federation, the solerepresentative and unified voice of UAE banks, organised an awareness seminar on corporate tax in the UAE as part of its efforts to continuously promote the exchange of views and experiences in order to develop the banking sector and strengthen the UAE’s position as a leading financial and banking centre.

The awareness seminar was attended by the CEOs of member banks, a number of officials and experts working in the banking and financial sector, where important matters of the banking and financial sector were addressed as the corporate tax comes to enforcementthis year.

The seminar covered various topics such as the tax rate for international and large multinational companies, procedures for filing audited tax returns in consolidated financial statements, and conversion of foreign currencies into the UAE dirham according to the rates issued by Central Bank of the UAE, procedures for price transfers and the corporate tax rate for foreign bank branches operating in the UAE. The seminar also explained Zakat in the country’s corporate tax system.

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Real Estate

Summary of weekly real estate transactions for the week ending 09 February 2024.

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Summary of weekly real estate transactions for the week ending 09 February 2024.

Dubai: The real estate and properties transactions valued at 9.8 billion in total during the week ending 09 February 2024. The sum of transactions was 3,543.

 197 plots were sold for AED 1.61 billion, 2,572 apartments and villas were sold for AED 5.68 billion.

 The top three transactions were a land in Warsan Fourth sold for AED 120.32 million, followed by a land that was sold for AED 78.86 million in Al Barshaa South Third, and a land sold for AED 54 million in Wadi Al Safa 3 in third place.

Madinat Hind 4 recorded the most transactions for this week by 77 sales transactions worth AED 199.72 million, followed by Al Hebiah Fifth with 30 sales transactions worth AED 136.08 million, and Jabal Ali First with 11 sales transactions worth AED 51.65 million in third place.

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Business & Investments

Emirates Stallions Group Announces Record 316% Growth in Net Profit for 2023

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Emirates Stallions Group Announces Record 316% Growth in Net Profit for 2023

  • ESG marked a significant milestone this year, recording a net profit surge to AED 687 million.
  • Strategic portfolio expansion and key acquisitions led to an impressive 168% and 202% growth in the company’s assets and equity, respectively.

Abu Dhabi, UAE, 10 February 2024: Emirates Stallions Group (ADX: ESG), the leading provider of Manpower Supply, Workers & Staff Accommodation solutions, as well as Landscaping & Agriculture, Real Estate Development, Engineering Project Management and associated services to Construction, Development and Hospitality, and a subsidiary of International Holding Company (ADX: IHC), today announced a remarkable year-on-year net profit increase of 316%, reaching AED 687 million for the fiscal year ended December 31, 2023. This significant financial achievement underscores the Group’s strategic acumen and operational excellence, marking a historic milestone in its growth trajectory.

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Food & Dining

Kashkan by Ranveer Brar to offer a 5-course meal with a captivating Valentine’s Day theme

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Kashkan by Ranveer Brar to offer a 5-course meal with a captivating Valentine’s Day theme

It’s raining gold coins at Kashkan, with three lucky winners standing a chance to win gold coins

Dubai, UAE, February 2024: Kashkan by renowned chef Ranveer Brar is delighted to announce a special Valentine’s Day celebration, featuring a sumptuous 5-course meal with a captivating Valentine’s Day theme. Couples can indulge in an exquisite culinary journey that includes appetizers, a delectable main course, a tantalizing dessert, and a bubbly non-alcoholic drink, all for the exclusive price of AED 345.

Kashkan’s Valentine’s Day promotion is available exclusively on 14th February providing couples with an opportunity to savour the finest culinary delights in an enchanting setting. Whether it’s a first date or a milestone anniversary, Kashkan promises an unforgettable dining experience that captures the essence of love.

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