Tag Archives: Featured

Real Estate

One Za’abeel achieves the Guinness World Records™ title for the ‘Longest Cantilevered Building’ in the world.

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One Za’abeel achieves the Guinness World Records™ title for the ‘Longest Cantilevered Building’ in the world.

Dubai, 26 March, 2024: One Za’abeel, the iconic landmark developed by ICD (Investment Corporation of Dubai), proudly announces it has achieved the GUINNESS WORLD RECORDSTM title for the ‘Longest Cantilevered Building’ in the world with its panoramic sky concourse, The Link. The achievement was cemented on 1st March 2024, making One Za’abeel the latest development to add a unique and imaginative first to Dubai’s long list of record-breaking buildings.  

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Education

Canadian University Dubai students develop solution to ease parking across the city

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Innovation wins AED 5K first prize at Brand Me Summit

March 25,2024: Dubai, UAE: A team of students from Canadian University Dubai (CUD) has created an innovative solution that aims to ease parking trouble for motorists across the city. Developed by second-year students, Ramisha Ahmareen Zaman and Fatma Ahmad Alattar, the Rent-a-Parking platform was awarded the first prize of AED 5,000 at the Entrepreneurship Showcase, staged as part of the recent Brand Me Summit. Held at the university’s City Walk campus, the ground-breaking CUD student-led event showcased the power of personal branding, featuring a line-up of distinguished speakers, entrepreneurs and public figures.

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Automibiles & Motoring

NEW ASTON MARTIN VANTAGE LAUNCH IN DUBAI

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NEW ASTON MARTIN VANTAGE LAUNCH IN DUBAI

21 March 2024, Dubai: Following the recent global reveal of Vantage, the all-new model made its Middle East debut during a Suhour event held on 20th March at the Bulgari Hotel Yacht Club in Dubai. The latest in an iconic bloodline, the new Vantage is an authentic, unadulterated celebration of pure performance, engineered to deliver maximum thrills with maximum confidence.

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Business & Investments

Aster’s India and GCC business separation

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Aster’s India and GCC business separation and proposed investment by Fajr Capital-led consortium nearing completion

  • In November 2023, Aster DM Healthcare Limited announced its plan to sell the shares held by Affinity Holdings Pvt Ltd (“Company”), a wholly owned subsidiary of the Company in Aster DM Healthcare FZC to Alpha GCC Holdings Limited (“Transaction”).
  • The plan essentially was to separate Aster’s India and GCC businesses to unlock long-term value, with a Fajr Capital-led consortium to acquire a 65% stake in the Company’s GCC business. The separation plan is now nearing completion, with key regulatory approvals (including approval from Saudi Arabia’s General Authority for Competition) obtained and transaction milestones achieved.
  • Conditions Precedent outlined in the Sale and Purchase Agreement (SPA) are now complete
  • The Company’s business operations in Qatar have been brought under Aster DM Healthcare FZC
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Business & Investments

EFG Hermes Completes Advisory on USD 428.7 Million IPO of Parkin on the DFM

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EFG Hermes Completes Advisory on USD 428.7 Million IPO of Parkin on the DFM

The IPO set a record for the most subscribed offering on the Dubai Financial Market, with an overall subscription of approximately 165 times.

Dubai, March 21, 2024

EFG Hermes, an EFG Holding Company and the leading investment bank in the Middle East and North Africa (MENA), announced today that its investment banking division successfully completed its advisory on the USD 428.7 million initial public offering (IPO) of Parkin, the largest provider of paid parking facilities and services in Dubai, on the Dubai Financial Market (DFM). EFG Hermes acted as a Joint Bookrunner on the transaction.

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