Category: Dubai

H.H. Sheikh Hamdan highlighted Dubai’s robust economy with 3.2% growth in Q1 2024, adding over AED 115 billion to GDP….reports Asian Lite News

Dubai’s economy continues to grow steadily and showcase robust economic indicators, said H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister and Minister of Defence of the UAE, and Chairman of The Executive Council of Dubai.

The strength of Dubai’s economy is amply demonstrated in the 3.2 percent economic growth it achieved in the first quarter of 2024 compared to the same period last year, by adding more than AED 115 billion in GDP terms, Sheikh Hamdan said.

Sheikh Hamdan said it is especially commendable that the emirate’s successes in this regard highlight the combined efforts and teamwork of various stakeholders to realise the objectives of the emirate’s comprehensive development plans for 2033, specially the Dubai economic Agenda (D33) and Dubai Social Agenda 2033, which serve to enhance overall standards of wellbeing and quality of life while consolidating Dubai’s standing as a global economic capital and its attractiveness as a destination for foreign investments.

Sheikh Hamdan said: “Dubai is progressing in accordance with a clear vision whose foundations were laid down and whose goals were defined by His Highness Sheikh Mohammed bin Rashid Al Maktoum. What we witness today is a practical reflection of this vision, which has placed Dubai among the leading economic and commercial centres of the world.”

He added: “Dubai’s ambition is limitless, and its success story will remain a role model for cities wishing to create a promising future for their coming generations. Our goal is to sustain success and establish a culture of excellence and leadership across all sectors in the emirate to preserve these gains and move towards new horizons of excellence.”

The growth in Dubai’s GDP is the result of growth achieved in various vital sectors that constitute the basic pillars of the economic system in the emirate. The transportation and storage sector, and the financial and insurance activities sector achieved identical growth rates of 5.6 percent, the trade sector logged a growth of 3 percent, the information and communications sector posted a growth of 3.9 percent, the accommodation and food services activities sector grew 3.8 percent, and the real estate sector achieved a growth of 3.7 percent.

The economic growth in the first quarter of the year mirrors the success story of 2023, when the GDP reached approximately AED 429 billion, marking an increase of 3.3 percent compared to the 2022 figure of approximately AED 415 billion.

Outstanding display

Helal Saeed Almarri, Director General, Dubai Department of Economy and Tourism, (DET), said: “Dubai’s impressive quarterly growth performance underscores the sustained momentum and confidence within its dynamic business ecosystem, reflecting the robust diversification of our economic foundations. We remain committed to advancing the comprehensive economic framework set forth in Dubai’s Economic Agenda 2033, continuously refining and leveraging various economic instruments to enhance competitiveness, attract substantial investment, and facilitate seamless business operations.”

He added: “This achievement is a testament to the clear, stable, and forward-thinking leadership of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, and with high-impact initiatives such as the Foreign Direct Investment Development Programme to attract selective investments aligned with the D33 Agenda and the implementation of the Dubai Economic Model to monitor the city’s advancement, we are poised to further energise our growth initiatives. These measures will enhance collaboration between public and private sector stakeholders, propelling Dubai towards its goal of achieving top global status for economic growth and becoming a prime destination for business, talent, and investment.”

An upward trajectory

In this context, Hamad Obaid Al Mansoori, Director General of Digital Dubai, said: “The upward trajectory of economic growth indicators across various sectors shows that Dubai, under its wise leadership, is confidently moving towards enhancing its economic leadership and investment attractiveness. This progress is supported by economic diversification and the adoption of the latest technologies and solutions, including digital transformation, which has made the emirate a destination for entrepreneurs and those interested in creating successful experiences. Dubai’s economy has always drawn its strength from flexibility, keeping pace with changes, and proactive thinking that anticipates major economic transformations in the world, most notably the digital economy supported by artificial intelligence and data.”

Data to support decisions

Younus Al Nasser, Chief Executive of the Dubai Data and Statistics Establishment, emphasised the importance of providing accurate data on various economic sectors and their total contribution to the emirate’s growth. This data supports the leadership’s decision-making process and the development of relevant strategies and policies that contribute to achieving the city’s goals in all fields, he said.

“The recent data showing Dubai’s economy has grown by 3.2 percent compared to the same period last year gives us an indication about the future of the emirate’s economy. Dubai has always positioned itself as a leading example in attracting investments mainly in emerging technologies, which represents the backbone that supports the development of all sectors,” he added.

ALSO READ: Bangladeshis to face trial for rioting in UAE

The trials were carried out on a set route in a closed area of the Dubai South Logistics District….reports Asian Lite News

Dubai South, the largest single-urban master development focusing on aviation, logistics, and real estate, announced the successful completion of the first stage of the UAE’s autonomous vehicle trials in partnership with Evocargo.

The trials were carried out on a set route in a closed area of the Dubai South Logistics District.

During the trials, Evocargo checked and validated the hardware, software, and reliability of its unmanned electric truck, the Evocargo N1, for future service in the Logistics District.

Autonomous navigation on a predefined route was tested with special emphasis on safety in mixed traffic scenarios involving interaction with other participants like automobiles, trucks and pedestrians. The tests measured success of the Evocargo N1 in object detection, accident prevention, collision avoidance with moving obstacles and emergency stops.

The truck’s autopilot system was tested in a full range of manoeuvres (parking, reverse parking, turning, and reverse turning). The control centre’s functionality (route management, remote monitoring, and control) was also tested. No failures or potentially hazardous incidents were reported by any parties during the series of tests.

Additionally, Evocargo prepared a comprehensive report of trial results across two stages. In the second, the Evocargo N1 platform carried out freight transportation tasks on a standard route in a closed area.

The platform’s ability to respond to its surrounding environment in mixed traffic was extensively tested and met high validation standards.

In his comments, Mohsen Ahmad, CEO of the Logistics District – Dubai South, said, “We are proud of this groundbreaking milestone, which is a testament to Dubai South’s commitment to aligning with the wise leadership’s vision of establishing Dubai as a global logistics powerhouse. Our collaboration with Evocargo reinforced the UAE’s position in the industry and set a progressive stage for significant advancements within the regional logistics sector.

“As we look to the future, autonomous vehicles will play a pivotal role in revolutionising the industry, enhancing efficiency, and reducing the overall carbon footprint to create a sustainable and technologically advanced logistics infrastructure that will benefit Dubai and the UAE.”

Ahmed Al-Ansi, CEO of Evocargo Autonomous Logistic Services, said, “The trials aim to attract new customers and investments in the GCC countries, which are on track for world leadership in innovative tech. We are proud to be a pioneer and one of the first commercial suppliers of cutting-edge services in cargo transportation based on our own electric unmanned vehicles.”

Dubai South and Evocargo agreed to carry out the UAE’s first autonomous electric vehicle trials in a memorandum of understanding signed in December 2022.

ALSO READ: Indonesian Prez starts state visit to UAE today

DP World has been entrusted with the management, operation, and development of the market, linking it with markets globally….reports Asian Lite News

His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, announced the development of the Logistics Hub for Foodstuffs, Fruit and Vegetable Trade, the largest such facility in the world, serving the world’s largest market for foodstuffs, fruits and vegetables.

This initiative aligns with the emirate’s strategies to enhance investment and economic opportunities, thus contributing to the goals of the Dubai Economic Agenda D33, which aims to double the size of Dubai’s economy and transform it into one of the top three economic cities globally by 2033. The project also aims to improve quality of life for Dubai’s residents and enhance the city’s overall attractiveness and livability.

Sheikh Mohammed bin Rashid said, “Today, we have launched our plan to develop the largest logistics hub in the world for the trade of foodstuffs, fruits and vegetables. This expansion and doubling of the current market area will support our economic agenda and create larger commercial and investment opportunities. We have entrusted DP World with the management, operation, and development of the market, linking it with markets globally.”

His Highness added, “Dubai’s strategic location and advanced facilities make it a commercial and investment hub that attracts major companies. Our efforts will double in the coming period to enhance the emirate’s role in creating investment opportunities for global companies and youth, integrating them into developmental projects. Dubai aims to be a leading destination for markets, export, and re-export operations across various sectors, maximising economic opportunities for investors in this field.”

In line with His Highness’s directives and under the supervision of H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of The Executive Council of Dubai, H.H. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance of the UAE, witnessed the signing of a partnership agreement between Dubai Municipality and DP World.

This agreement marks the creation and management of the ‘Foodstuffs, Fruits and Vegetables Market,’ set to be the largest of its kind globally.

The agreement was signed by Sultan Ahmed bin Sulayem, Group Chairman and CEO of DP World, and Dawood Al Hajri, Director General of Dubai Municipality.

Sheikh Maktoum emphasised that Dubai is advancing under the vision of Sheikh Mohammed bin Rashid, aiming to showcase new successes in achieving the ambitious goals of the economic agenda to be among the top three economic cities globally by 2033. The flexibility, efficiency, and sustainability of Dubai’s economic model enhance its global attractiveness for investment opportunities.

Sheikh Maktoum stated, “The new project will create new economic opportunities and a better investment environment in this crucial food sector, supporting Dubai’s D33 economic vision.”

Sultan Ahmed bin Sulayem, Group Chairman and CEO of DP World, noted that Dubai is a global model for generating investment opportunities and connecting regional and global markets across various sectors of trade.

He highlighted that establishing the world’s largest foodstuffs, fruits and vegetables market will reinforce strong foundations of trade in this sphere across regional and global markets, particularly through novel logistical and financial solutions bound to be offered by the market.

Bin Sulayem added, “Due to its strategic location, Dubai has become a global market for food trade, especially fruits and vegetables. This sector is witnessing increasing growth in both local markets and exports, indicating immense opportunities that can be leveraged through strategic projects that Dubai continues to develop. Establishing and expanding the Foodstuffs, Fruits and Vegetables Market and launching its pioneering solutions will all act as a strong driver to maximise the benefits of this sector’s growth in achieving Dubai’s economic goals.”

Dawood Al Hajri stated that the agreement to establish and manage the Foodstuffs, Fruit and Vegetable Market reflects Dubai’s constant efforts to enhance its competitiveness and its attractiveness as a place to invest, live, and work in.

He added that the agreement is part of Dubai’s vision to develop markets, improve the quality of life for the community, and establish the emirate as an international trade hub by offering innovative solutions to boost investment opportunities and unlock new business horizons.

ALSO READ: UAE outlines sustainability agenda at UN forum

Extending 6.6 kilometres, the beach is poised to become a distinctive recreational destination that places a high priority on environmental preservation and the protection of local ecosystems and wildlife….reports Asian Lite News

In line with the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, to create the world’s best public beaches in the emirate, H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of The Executive Council of Dubai, approved the Master Plan for the Jebel Ali Beach Development Project.

Extending 6.6 kilometres, the beach is poised to become a distinctive recreational destination that places a high priority on environmental preservation and the protection of local ecosystems and wildlife.

Sheikh Hamdan also approved the architectural designs for the project’s buildings and facilities, which feature a unique blend of aesthetics and functionality tailored for various beach activities.

The project features exceptional services, facilities, and public amenities. Offering a new eco-tourism experience, visitors to the beach can enjoy watching turtles in their natural habitat. Various measures and regulations will be put in place to protect turtles and provide them a safe nesting environment. These efforts align with the efforts of relevant bodies in the UAE to rescue, rehabilitate, and return turtles to their natural habitat and preserve the UAE’s rich marine environment.

Urban experiences

Sheikh Hamdan said, “Under the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, we are committed to developing the infrastructure and services needed to offer diverse urban experiences for citizens, residents, and visitors. Our focus is on creating spaces rich in beaches, open areas, and recreational greens. The ultimate goal is to enhance the well-being of the city’s people, create a healthy environment for all and make Dubai the world’s best place to live in.”

He added, “The Jebel Ali Beach Development Project is part of a broader master plan to develop public beaches in the emirate aimed at increasing the total length of beaches by 400%. This involves adding new public beaches, enhancing existing ones, and equipping them with new recreational, sports, aesthetic, and investment facilities as envisioned in the Dubai 2040 Urban Master Plan.”

First project of its kind in the UAE

Mattar Al Tayer, Commissioner-General for Infrastructure, Urban Planning, and Well-Being Pillar, said, “An open beach for the public and a site of global environmental importance, the Jebel Ali Beach Development Project is the first of its kind in the UAE. It is located within the Jebel Ali Wildlife Sanctuary, listed under the Ramsar Convention on Wetlands of International Importance.

“The project aims to create a unique, attractive recreational beachfront with a strong emphasis on protecting the environment and supporting the emirate’s sustainability and eco-tourism goals. The beach’s development will ensure the preservation and enhancement of ecosystems and wildlife at the site, including enhancing turtle habitats and planting mangrove trees, which will contribute to blue carbon footprint growth and provide an open beach with minimal impact on ecological and biological systems.”

Unique ecosystem

Al Tayer added, “Jebel Ali Beach will be the longest public open beach in Dubai, stretching 6.6 km and covering an area of 330 hectares. The plan includes developing two areas: a 5 km sandy beach to be developed by Nakheel and a 1.6 km mangrove beach to be developed by Dubai Municipality. The area features a unique ecosystem due to the presence of mangrove trees, which enhance the sanctuary and provide habitats for many living organisms. The design of the area allows for optimal site utilisation, enabling the preservation of the ecosystem and enrichment of the visitor experience.

“The plan includes a 2 km open swimmable beach, a 2.5 km diving sports area, a walkway with viewing platforms to blend with the surrounding environment, and recreational and service areas for beachgoers of all ages, including kids play zones, sports and marine activity areas. The beach will be connected with integrated infrastructure, including a two-lane road in each direction, parking for 1,000 vehicles, 80 bicycle racks, a cycling track, and a 5 km running track,” Al Tayer said.

Three locations

Al Tayer said, “The beach will be divided into three locations: the Pearl (on the right side near the entrance of Palm Jebel Ali), a centre for beach and recreational activities with options for a lively family beach, sports activities, a swimming pool, kids play zones, a beach club with a pool and private beach for a fee, several restaurants, cafes, shops, and a floating restaurant in a unique location.

“The second site, named the Sanctuary, offers a haven for turtles and natural habitats. This area places the highest priority on environmental conservation and houses recreational and sports activities that enhance safe environmental exploration.

“The third site is the Nest (within the mangrove area), offering a recreational educational destination featuring a mix of educational initiatives and environmental conservation. It includes an environmental centre for studies and awareness of biodiversity, turtle rehabilitation and care programmes, and opportunities for visitors to learn about and help preserve the coastal ecosystem,” Al Tayer noted.

Architectural styles

“The architectural design of the buildings and facilities of the Jebel Ali Beach Development Project is inspired by a mix of natural geometry, drawing from shapes found in marine nature such as coral and turtle shells, as well as the Boho Syle, which uses elements and materials available locally. The buildings resemble the natural dunescape. The project offers several investment opportunities, such as restaurants, leisure centres, and commercial kiosks, to ensure maximum comfort for beachgoers and meet their various needs,” Al Tayer explained.

Al Mamzar and Jumeirah 1 Beaches

The Supreme Committee for Urban Planning and Quality of Life previously awarded contracts for the development of the Al Mamzar and Jumeirah 1 Beaches, extending 5.7 km in total (4.3 km at Al Mamzar Beach and 1.4 km at Jumeirah 1 Beach). The project involves extensive changes encapsulated in an integrated plan aimed at developing beaches and their infrastructure and transforming them into the most advanced and attractive in the world.

The development will add a new recreational tourism destination catering to the increasing number of beachgoers and water sports enthusiasts in the emirate. The project will provide exceptional services for residents, tourists, and visitors alike, making it one of Dubai’s top tourism destinations.

Unique model

A unique global model for beach design, the project will enhance the overall infrastructure capacity for beachgoers, and keep pace with the emirate’s population and tourism growth. The beaches will be equipped with a range of infrastructure and advanced future facilities, including the first 24/7 night-swimmable beach in Deira, a 300-metre pedestrian path along the beaches, 11 km of cycling and jogging tracks surrounded by trees, and a 200-metre floating bridge connecting both sides of Al Mamzar Beach – the first of its kind in the emirate.

Service facilities

The beaches will be fitted with public health and service facilities, such as restrooms, shower areas, and changing rooms along the beaches, designed according to the top global practices, ensuring comfort and privacy. Additionally, the project will feature 10 areas designated for recreational and kids play zone, beach and physical sports, and barbecue areas, along with beach rest areas and spaces for seasonal events with secured entrances and exits.

About 1,400 parking spaces for cars and buses, including dedicated spaces for charging eco-friendly cars, will be provided, as well as drinking water stations, irrigation networks, and sewage disposal systems extending over 5 km, along with modern automatic irrigation systems to increase green spaces.

Advanced technology

The two beaches will be equipped with advanced technology services and systems, such as advanced lockers, Wi-Fi internet services, electronic screens, beach rescue services using the latest artificial intelligence technologies, and enhanced beach monitoring through more than 100 modern cameras connected to central control rooms in Dubai Municipality and Dubai Police to ensure the highest levels of safety for beachgoers.

The plan aims to carry out 100 percent development of beaches, raise service levels on public beaches by 400 percent, and increase the length of night-swimmable beaches by 56 percent (equivalent to 450 metres), extend cycling tracks along the beaches by 285 percent (equivalent to 15.15 km), and increase the length of jogging tracks by 125 percent (equivalent to 11 km). Additionally, services and facilities will be provided to cater to the needs of people of determination compatible with the Dubai Code for an Accessible Environment and global best practices.

Eight beaches

Dubai currently has a total of eight public beaches: Al Mamzar Beach, Al Mamzar Corniche, Jumeirah 1, Jumeirah 2, Jumeirah 3, Umm Suqeim 1, Umm Suqeim 2, and Jebel Ali Beach. All of them have obtained the globally prestigious Blue Flag accreditation awarded to public beaches that meet its criteria including compliance with the programme’s standards such as marine water quality, environmental education, environmental management, public safety, and services for five consecutive years.

ALSO READ:

The project aims to expand the market area from 2.8 million square feet to 20 million square feet, making it eight times its current size…reports Asian Lite News

His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, has directed the development of the ‘Dubai Car Market’, the largest and most advanced car market in the world.

The initiative aims to solidify Dubai’s position as one of the world’s most prominent and rapidly growing cities in the automotive trade sector.

In line with His Highness’s directives and under the supervision of H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, H.H. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance, witnessed the signing of a partnership agreement between Dubai Municipality and DP World for the development of the new car market, spanning 20 million square feet. DP World has been entrusted with the construction and management of the ‘Dubai Car Market’. DP World will leverage its extensive logistical expertise and global network, which includes over 430 business units in 86 countries, to ensure the market’s success.

Sheikh Mohammed said, “Today, we have mandated DP World to develop the ‘Dubai Car Market’, expanding the current market eightfold to create a 20 million square feet facility that will be the largest and most advanced car market globally. The ‘Dubai Car Market’ will be connected with 77 ports managed by DP World around the globe, enhancing its capacity and doubling its current sales of AED6.8 billion.

He added, “The new market will become a global hub that offers commercial services, and logistics and financing solutions for this vital sector. It will also be a premier destination for major conferences and specialised events for car enthusiasts. Dubai will continue to develop new development projects as part of its vision to be one of the largest economic and commercial centres in the world.”

A strategic project that contributes to realising Dubai’s future vision, the ‘Dubai Car Market’ will offer integrated services, including buying, selling, registration, banking, and logistics. The market will have the capacity to host global events, making it a preferred destination for car enthusiasts and investors.

Sheikh Mohammed bin Rashid said, “Through strategic initiatives like the ‘Dubai Car Market’, we aim to provide an integrated investment environment that supports sustainable economic growth.”

“This initiative will accelerate the achievement of the goals of the Dubai Economic Agenda D33 to double the size of the emirate’s economy and transform it into one of the world’s top three urban economies by 2033,” His Highness added.

The agreement between Dubai Municipality and DP World’s Economic Zones Sector aims to enhance Dubai’s position as a global innovation and trade centre for the automotive sector. DP World will leverage its extensive experience in developing and operating integrated economic zones to provide a range of services including advanced systems for businesses and investors, comprehensive logistical solutions, e-commerce, trade finance, and asset development.

Dawood Al Hajri, Director-General of Dubai Municipality, said, “Signing the partnership agreement with DP World represents a major step towards realising Dubai’s vision for developing the largest and most advanced car market in the world. We aim to provide the best services that meet the needs of investors and traders, enhancing Dubai’s position as a premier global investment destination in the automotive sector.”

Al Hajri added, “This project aims to enhance infrastructure and develop integrated services that contribute to supporting the local economy and achieving sustainable growth. Establishing the ‘Dubai Car Market’ will attract foreign investments and strengthen Dubai’s position as a global innovation and trade centre.”

Sultan Ahmed bin Sulayem, Group Chairman and CEO of DP World, said, “We are proud to collaborate with Dubai Municipality on this ambitious project. We aim to leverage our services and expertise in managing economic zones to establish Dubai as a leading destination in the automotive trade sector. We will continue our commitment to providing the best logistical and technological solutions to support this project.”

Bin Sulayem added, “We are committed to providing services and infrastructure that keep pace with global developments and meet investors’ expectations. This project is vital to enhancing the local economy and achieving sustainable growth. We will provide all resources to ensure its success.”

Expansion of market area

The project aims to expand the market area from 2.8 million square feet to 20 million square feet, making it eight times its current size. The market will be a comprehensive global centre offering advanced and innovative automotive services.

Current sales and operations, valued at AED6.8 billion, are expected to double with significant infrastructure and service expansions. The new market will offer innovative government and banking services and will be connected to global markets through DP World’s network, enhancing access and trade.

Destination for specialised automotive events

The market will host major automotive events and conferences, making it a preferred destination for car enthusiasts and investors. It will include areas for exhibitions and events that bring together experts and global companies in the automotive field, as well as recreational, cultural, and commercial zones.

This project, which contributes towards achieving the goals of the Dubai Economic Agenda D33 to enhance innovation and trade, reflects the emirate’s commitment to providing top-tier infrastructure and services to support the local and global economy.

ALSO READ: UPI Payments Now Available in UAE