Monthly Archives: April 2024

Real Estate

EMIRATES REIT ACHIEVES HIGHEST EVER PROPERTY INCOME

EMIRATES REIT ACHIEVES HIGHEST EVER PROPERTY INCOME

Key Highlights for FY 2023

  • Total property income posted year-on-year growth of 10% to USD 74m, highest value ever
  • Operating profit rose 37% to reach USD 44m for the Financial Year
  • Net Asset Value grew by 34% to close at USD 500m – a NAV per share of USD 1.57
  • Value of Investment Properties increased by 18% to USD 924m
  • Total Assets crossed USD 1bn, to USD 1,037m
  • Occupancy across the portfolio increased by 1.7 p.p. to 86%
  • Finance To Value decreased by 7.3 p.p. to 43%

Thierry Delvaux, Chief Executive Officer of Equitativa

Dubai, 17 April 2024 – Equitativa (Dubai) Limited (“Equitativa”), manager of Emirates REIT (CEIC) PLC (“Emirates REIT” or the “REIT”), today reported FY 2023 financial results for Emirates REIT. The REIT experienced strong growth, with record property income.

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Business & Investments

Ducab Metals Business Launches Eco-Aluminium Rods, Revolutionizing Sustainability in Industry

Ducab Metals Business Launches Eco-Aluminium Rods, Revolutionizing Sustainability in Industry

  • DMB’s Green Aluminium Rod, produced using recycled aluminium, emits approximately 0.5 tons of CO2-equivalents per ton, significantly lower than primary aluminium production.
  • Mohamed Al Ahmedi, CEO of Ducab Metals Business, highlights the company’s dedication to eco-conscious practices with the scheduled Q4 launch of Green Aluminium Rod to advance sustainability in the industry.
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Sports & Recreations

How World Championship of Legends will change Legends Cricket Forever

How World Championship of Legends will change Legends Cricket Forever

April 18 2024, Dubai – Cricket enthusiasts worldwide are witnessing a groundbreaking shift in the legendary game of cricket through the World Championship of Legends. Here’s why this championship is reshaping the cricketing landscape

Firstly, it stands out as the only league in its category approved by a Test Playing Nation. This validation brings a new level of prestige and authenticity to the championship.

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Technologies

Nothing Introduces Ear and Ear (a) along with new ChatGPT Integrations

Nothing Introduces Ear and Ear (a) along with new ChatGPT Integrations

Nothing’s best audio products to date feature exciting upgrades

Dubai, United Arab Emirates, 18 April 2024 – Nothing today announced during its Q1 Community Update, live from Tokyo, Japan that it will be establishing a new foundation of its audio product suite with two new wireless earbuds, Nothing Ear and Nothing Ear (a). Simultaneously, Nothing announced it will enhance its overall user experience with industry-first ChatGPT integrations in its audio and smartphone products.  

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Business & Investments

GCC COUNTRIES MUST STRENGTHEN SUPPLY CHAINS- OLIVER WYMAN REPORT

GCC COUNTRIES MUST STRENGTHEN SUPPLY CHAINS TO SAFEGUARD INDUSTRIAL GROWTH STRATEGIES – OLIVER WYMAN REPORT

Key takeaways:

  • As GCC countries embark on large scale industrialization of their economies, governments should develop supply chain resilience strategies and enablers to safeguard their national industrial growth

Current risk levels in the supply chains of GCC countries need to be mitigated, especially for high criticality products such as transformers and critical minerals

  • Disruptions in the industrial sector, which is an enabler for several other vital sectors, can have a domino effect on the economy. Mitigating such disruptions is essential
Frederic Ozeir
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