Category Archives: Business & Investments

Business & Investments

AI will dominate Saudi Arabia’s smart city ambitions, says FM technology expert

Dubai, United Arab Emirates: With Saudi Arabia’s iconic and innovative giga projects becoming a reality, the kingdom’s real estate landscape is expanding at a phenomenal pace, creating an issue for building managers and an unrivalled opportunity for progressive and technically astute FM companies and professionals.

Employing advanced technology to operate these futuristic structures will be absolutely essential and as a consequence, facility managers will need to be conversant with how these hi-tech buildings function, in order to optimise efficiency, sustainability and safety.  

Javeria Aijaz, Managing Director of Middle East-based HITEK, part of the Farnek group of companies

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Business & Investments

AquaChemie Opens Chemicals Manufacturing Facility in KEZAD to Boost UAE’s Industrial Ambitions

A $25 Million Investment to Drive Localization, Innovation, and Sustainability

12 February 2025 | Abu Dhabi, UAE – AquaChemie, a key player in the regional chemicals sector, has unveiled AquaChemie Global Chemicals (ACGC), a state-of-the-art manufacturing facility at Khalifa Economic Zone Abu Dhabi (KEZAD), setting a new benchmark for specialty chemical manufacturing in the Middle East. Built on 25,804 square meters with an initial investment of $25 million, the facility marks a major milestone in AquaChemie’s growth and directly supports the UAE’s ‘Make IT in the Emirates’ vision—driving local innovation, industrial independence, and supply chain resilience.

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Business & Investments

EMSTEEL delivers AED 8.3 billion in revenue for 2024

Abu Dhabi, United Arab Emirates, 12 February 2025: EMSTEEL (ADX: EMSTEEL) (“the Group”), one of the largest publicly traded steel and building materials manufacturers in the region, announced today its preliminary (unaudited) financial results for Full Year 2024. The results highlight EMSTEEL’s ability to perform well whilst facing difficult market conditions.

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Business & Investments

Americana Restaurants reports $2.20 billion revenue in 2024,  highlighting business resilience

  • Reported Revenue of $2.20 billion and Adjusted EBITDA of $484.3 million, resulting in a healthy EBITDA margin of 22.0%
  • Net profit attributable to the shareholders of the Parent Company stood at $158.8 million
  • Americana Restaurants opened 213 gross new stores; total 2,590 restaurants in operation as of 31 December 2024

Abu Dhabi and Riyadh, 12 February 2025: Americana Restaurants International PLC and its subsidiaries (“Americana Restaurants” or the “Company”) (ADX symbol: AMR/ ISIN: AEE01135A222) (Saudi Stock Exchange symbol: 6015), the largest out-of-home dining and quick service restaurant operator in the Middle East & North Africa (“MENA”) and Kazakhstan, today announced financial results for the twelve months ending December 31, 2024. Despite evolving market conditions, the Company displayed strong financial and operational resilience.

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Business & Investments

stc Group receives global recognition for procurement excellence from CIPS


The certification recognises stc Group’s leadership in procurement and supply chain management

Riyadh, Saudi Arabia; February 11, 2025: stc Group, a leading digital enabler, has been awarded the globally recognised CIPS Procurement Excellence Certification by the Chartered Institute of Procurement & Supply (CIPS), reaffirming its position among an elite group of global leaders in procurement and supply chain management.

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