Yearly Archives: 2024

Business & Investments

UAE and Saudi Arabia to drive expansion of the GCC retail industry, says Alpen Capital

Dubai – September 26, 2024: Alpen Capital’s latest retail sector report for the GCC projects the industry to witness growth at a compounded annual growth rate (CAGR) of 4.6 percent between 2023 – 2028, with the UAE and Saudi Arabia leading the region’s growth at CAGRs of 5.4 percent and 5.1 percent, respectively.           

The UAE-based investment banking advisory firm, Alpen Capital, launched its latest report on the GCC Retail Industry on Thursday, September 26th. The comprehensive report features in-depth analysis and forecasts for the retail sector, examining recent trends, growth drivers and challenges facing this dynamic segment. Additionally, the report profiles select retail companies operating in the region.

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Business & Investments

Al Seer Marine Expands Fleet with Delivery of two new MR Tankers: M.T. Betelgeuse and M.T. Bellatrix

  • M.T. Betelgeuse and M.T. Bellatrix are IMO II/III oil and chemical tankers, designed to carry six fully segregated grades of cargo, with a deadweight of 49,757 MT each.
  • The six state-of-the-art MR tankers are built ready for alternative fuels such as Liquified Natural Gas (LNG), ammonia, and methanol.

Abu Dhabi, September 26, 2024: Al Seer Marine (ADX: ASM), a frontrunner in various maritime industries and a subsidiary of International Holding Company (ADX: IHC), has recently taken delivery of M.T. Betelgeuse and M.T. Bellatrix, the first two in a series of six New Building MR tankers from K Shipbuilding Korea. These new additions are intended to meet the rapidly growing demand for the transportation of clean petroleum products (CPP) and chemicals.

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Real Estate

Conares to supply sustainable steel to build Victory Heights Primary School in City of Arabia, Dubai

DUBAI – September 25, 2024: Conares, the second-largest private steel manufacturer in the UAE, has announced its partnership with Interstar Education Services and Al Saraya Engineering Consultants for the development of Victory Heights Primary School in the City of Arabia, Dubai. The project highlights Conares’ ongoing commitment to sustainable development and its contribution to the region’s infrastructure through high-quality steel solutions.

As part of the collaboration, Conares will supply its specially made 18-meter rebar for the construction to Al Talaqi Building Contractor, who will execute the construction, ensuring the school meets all regulatory standards and delivers a modern, sustainable environment for students. In the construction phase, Conares has supplied 994 metric tonnes of rebar to Al Talaqi Building Contractor.

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Real Estate

UAE Poised to Attract Over 6,700 Millionaires in 2024, Unique Properties Capitalizes with London Roadshow

26 September 2024, Dubai, United Arab Emirates: The United Arab Emirates is set to reinforce its position as a top global wealth magnet, with projections indicating it will attract over 6,700 millionaires this year, according to the Henley Private Wealth Migration Report 2024. This influx of high-net-worth individuals (HNWIs) is driving a boom in the UAE’s real estate market, particularly in Dubai, where British investors have now surpassed both Indian and Russian counterparts to become the leading property buyers.

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Sports & Recreations

UAE’s Vision for Sports to Be Unveiled at Region’s Largest Sport Business Forum

Abu Dhabi, UAE –26 September 2024: The Sport Industry Forum, set to take place on 2-3 October at NYU Abu Dhabi, will bring together over 300 global and regional leaders.

The event will feature a keynote from H.E. Ghanim Mubarak Al Hajeri, Director General of the General Authority of Sports, who will provide an update on the National Sports Strategy – 2031, outlining its progress and future initiatives aimed at transforming the UAE’s sports landscape.

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