Category Archives: Business & Investments

Business & Investments

ServeU obtains ISO 41001

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ServeU obtains ISO 41001:2018 Certification for exceptional services at properties managed by EDACOM

  • UAE’s Facilities Management market is projected to grow at a CAGR of 9 per cent by 2028

January 25, 2024

ServeU, a subsidiary of Union Properties and a leading facilities management (FM) solutions provider in the UAE, received the ISO 41001:2018 certification for its superior facilities management systems and services.

The achievement recognises ServeU’s excellence in maintaining properties managed by EDACOM Owners Association Management, a leading community management services provider owned by Union Properties, particularly in Motor City and Uptown Mirdif Communities. The accreditation further solidifies EDACOM’s standing in the field of community management and underlines its efforts to deliver quality services   using ServeU’s solutions and systems.

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Business & Investments

AD Ports Group’s Maqta Gateway and Aqaba Development Corporation Sign Shareholders’ Agreement

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AD Ports Group’s Maqta Gateway and Aqaba Development Corporation Sign Shareholders’ Agreement to Digitalise Jordan’s Maritime Sector through Maqta Ayla

Agreement paves the way for Maqta Gateway’s international ambitions to export its port digitalisation solutions

Abu Dhabi, UAE– 25 January 2024:  Adding pace to its strategic plan of enhancing maritime and tourism in Aqaba, AD Ports Group (ADX: ADPORTS), a global leader in trade, logistics and industry, announced today the signing of the shareholders’ agreement between its digital arm, Maqta Gateway, and the Aqaba Development Corporation (ADC) with regards to their existing joint venture company, Maqta Ayla. Maqta Gateway will have a 51 per cent stake in Maqta Ayla, while ADC will own 49 per cent.

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Business & Investments

MENA M&A deals reached US$80.0 billion in 2023

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MENA M&A deals reached US$80.0 billion in 2023

Key highlights include:

– An estimated US$1.2 billion in investment banking fees generated in the Middle East & North Africa during 2023.

– The value of announced M&A transactions involving MENA reached US$80.0 billion in 2023.

– MENA equity and equity-related issuance totaled US$13.3 billion during 2023.

– MENA debt issuance reached a total of US$69.9 billion in 2023.

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Business & Investments

Colliers’ Sankey Prasad appointed Chairman and Managing Director for India & CMD for Colliers Project Leaders Middle East

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Colliers’ Sankey Prasad appointed Chairman and Managing Director for India & CMD for Colliers Project Leaders Middle East

Expanded leadership role for Sankey Prasad to capitalise on the growing potential of the real estate market in the Middle East.

Dubai, 24 Jan 2024– Global diversified professional services and investment management company, Colliers (NASDAQ, TSX: CIGI), announced today that Sankey Prasad will expand his leadership role to include Project Leaders in the Middle East.

Effective immediately, Mr Prasad becomes Chairman and Managing Director (CMD) for India & CMD for the Middle East Engineering business which is under the name of Colliers Project Leaders Middle East. He will also take a significant stake in Colliers’ rapidly growing Project Management business in the Middle East, supporting the region’s flourishing real estate market in collaboration with Colliers’ exisiting real estate services business in the Middle East and North Africa (MENA) region. 

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Business & Investments

PAYMOB AND MASTERCARD PARTNER TO ACCELERATE DIGITAL PAYMENT ACCEPTANCE IN MENA

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PAYMOB AND MASTERCARD PARTNER TO ACCELERATE DIGITAL PAYMENT ACCEPTANCE IN MENA

Dubai, United Arab Emirates, January 24, 2024 – Paymob, the leading financial services enabler in the Middle East, North Africa and Pakistan (MENA-P), has announced a partnership with Mastercard to accelerate digital payment acceptance across the MENA region.

 The strategic omnichannel partnership will leverage Paymob’s payments infrastructure and Mastercard’s payments technology to scale the adoption of low-cost solutions among micro, small and medium-sized businesses (MSMEs) in key markets. The agreement includes the acceleration and enablement of Tap on Phone, e-commerce gateway and payment links solutions. The collaboration’s focus on low-cost solutions will fast-track mass adoption of digital acceptance among smaller businesses while addressing use cases previously not served by existing solutions.

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