Category: Abu Dhabi

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Abu Dhabi unveils UAE’s first operational vertiport

The plans announced are set to bolster Abu Dhabi’s Smart and Autonomous Vehicle Industry (SAVI) cluster, and kickstart the development of required infrastructure to operationalise air taxis…reports Asian Lite News

UAE’s first operational vertiport for vertical take-off and landing aircraft (eVTOLs) was unveiled in Abu Dhabi yesterday.

Abu Dhabi Investment Office (ADIO), in collaboration with the UAE’s General Civil Aviation Authority (GCAA) and The Department of Municipalities and Transport – Abu Dhabi (DMT), represented by Abu Dhabi Mobility (AD Mobility), an affiliate of the Department of Municipalities and Transport – Abu Dhabi (DMT), unveiled the vertiport at DRIFTx, an international event showcasing smart, autonomous, and sustainable urban mobility across air, land, and sea.

The temporary vertiport facility, constructed in line with the latest industry standards and regulations set by the UAE’s General Civil Aviation Authority (GCAA), offers a glimpse into Abu Dhabi’s strategy to deliver one of the world’s most advanced sectors for electric vertical take-off and landing aircraft (eVTOLs) by 2026. AD Mobility will regulate the advanced air mobility sector in Abu Dhabi by working in conjunction with the UAE’s GCAA.

In this context, Saif Mohammed Al Suwaidi, Director General of the General Civil Aviation Authority, remarked: “Our collaboration with ADIO and AD Mobility underscores our commitment to fostering innovation while maintaining the highest levels of safety and regulatory compliance in the rapidly evolving field of advanced air mobility. Events like DRIFTx play a crucial role in accelerating the development of advanced air mobility in the Emirate of Abu Dhabi and the UAE. By bringing together industry experts, innovators, and stakeholders, DRIFTx facilitates invaluable dialogue and collaboration that propels us toward a future where smart and sustainable urban air transportation is a reality.”

The UAE’s GCAA initiative in establishing the world’s first national regulation on vertiports last year paved the way for advanced air mobility in the UAE, ensuring the availability of safe and suitable infrastructure to accommodate eVTOL aircraft. This bespoke regulation covers design, operations, and certification provisions for vertiports on land and in sea, demonstrating commitment to fostering innovation while prioritizing safety and regulatory compliance in the rapidly evolving aviation landscape.”

The temporary vertiport facility unveiled at DRIFTx was approved based on these rigorous standards, ensuring the highest levels of safety for operations. By pioneering this regulatory framework, the UAE’s GCAA sets an example for regulators worldwide, showcasing a proactive approach to facilitating the safe introduction of emerging technologies.

Abdulla Al Marzouqi, Director General of Abu Dhabi Mobility (AD Mobility), added: “The collaboration between ADIO and AD Mobility will see vertiports setup in strategic locations across Abu Dhabi, including major business hubs and tourism destinations. Once complete, the vertiport network will be a key enabler of Abu Dhabi’s SAVI cluster. Centred in Masdar City, Abu Dhabi, it provides state-of-the art facilities and value-add services within an enabling regulatory environment for companies developing advanced technologies across air, land, and sea mobility applications. This is an exciting time for mobility in Abu Dhabi.”

Badr Al-Olama, Director General of ADIO, said: “Abu Dhabi’s vertiport network will mark a significant milestone in transport innovation and the future of mobility. Our partnership with AD Mobility is pivotal for creating robust infrastructure to make smart and autonomous vehicles a reality and part of everyday life, propelling us towards a more connected and efficient future. The network will create extensive commercial opportunities for transport infrastructure companies, creating economic development alongside technological advancement.”

ADIO engaged with experts in the advanced air mobility sector that have gathered in the capital for the inaugural Abu Dhabi Mobily Week and outlined the commercial opportunities available to develop the capital’s vertiport infrastructure network through Abu Dhabi’s public-private partnership (PPP) framework.

The plans announced are set to bolster Abu Dhabi’s Smart and Autonomous Vehicle Industry (SAVI) cluster, and kickstart the development of required infrastructure to operationalise air taxis. SAVI offers access to academia, sandboxes, R&D labs, testing and certification facilities, large scale workshops, hangars, manufacturing facilities, and global logistics integration. This has attracted some of the world’s most innovative eVTOL companies, including Archer Aviation and Joby Aviation.

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Abu Dhabi International Book Fair 2024: A Global Cultural Extravaganza

This year, the ADIBF pays homage to Egyptian novelist Naguib Mahfouz, celebrating Egypt’s profound influence on Arab thought and creativity. As the Focus Personality, Mahfouz’s legacy serves as a testament to the enduring power of literature to transcend borders and unite diverse communities…reports Asian Lite News

The Abu Dhabi International Book Fair (ADIBF), organized by the Abu Dhabi Arabic Language Centre (ALC), is poised to make waves once again as it gears up for its 33rd edition in 2024. Renowned as a pinnacle event for the cultural community and publishing industry worldwide, this year’s fair promises to be bigger and more diverse than ever before.

With over 1,350 exhibitors from an impressive 90 countries, the ADIBF continues to uphold its status as a beacon of cultural exchange and literary exploration. The theme for this edition, “Where the World’s Tales Unfold,” encapsulates the essence of the fair, inviting visitors on a journey through the diverse narratives of global literature.

Taking place at the esteemed Abu Dhabi National Exhibition Centre (ADNEC) from April 29th to May 5th, 2024, the event boasts an impressive lineup of 145 new exhibitors and publishing houses, alongside the participation of 12 additional countries. From Greece to Indonesia, these nations contribute to the rich tapestry of cultures showcased at the fair, reinforcing Abu Dhabi’s reputation as a global cultural hub.

Central to the ADIBF’s success are the initiatives spearheaded by the ALC to support publishers, exhibitors, and authors. By waiving rental fees for participants for the third consecutive year, the ALC demonstrates its commitment to fostering the growth and sustainability of the publishing sector while promoting the prominence of the Arabic language on the world stage.

Dr. Ali bin Tamim, Chairman of the ALC, emphasizes the fair’s pivotal role in facilitating intercultural exchange and promoting global dialogue. He remarks, “The sustained efforts and excellent support that the book fair has received have cemented its reputation as a global cultural center and a beacon of knowledge.”

This year, the ADIBF pays homage to Egyptian novelist Naguib Mahfouz, celebrating Egypt’s profound influence on Arab thought and creativity. As the Focus Personality, Mahfouz’s legacy serves as a testament to the enduring power of literature to transcend borders and unite diverse communities.

In a rapidly evolving world, the ADIBF remains a steadfast advocate for the preservation and promotion of literary heritage, offering strategic opportunities for growth and innovation in the publishing sector. As the fair continues to evolve, it reaffirms the UAE’s commitment to nurturing a vibrant cultural landscape and fostering global connections through the universal language of storytelling.

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AVPN Global Conference 2024 Takes Off in Abu Dhabi

The session will highlight strategies for crisis-driven philanthropy, emphasising enhanced responsiveness, coordination, and impact…reports Asian Lite News

The AVPN Global Conference 2024 opens in Abu Dhabi tomorrow.This premier event is set to gather over 1,500 distinguished attendees, including investors, philanthropists, researchers, policymakers, and impactful professionals. Over the course of three dynamic days, participants will converge to address pressing social and environmental challenges, uniting their expertise and resources for collective action

The Conference, the flagship event of AVPN, Asia’s largest network of social investors, journeys to different locations every year, bringing together the region’s social investing ecosystem to learn, connect, and unite in action for Asia.

This year’s Conference takes place in Abu Dhabi from 23rd to 25th April 2024, under the patronage of H.H. Sheikh Theyab bin Mohamed bin Zayed Al Nahyan, Chairman of the International Humanitarian and Philanthropic Council.

It represents the most inclusive Conference to date, spanning from the GCC to the eastern reaches of Australia and New Zealand, bridging North, South, East, and West Asia and leveraging the UAE’s unique ability to unite diverse partners in the pursuit of shared good.

Conference highlights

The Global Conference includes more than 70 plenaries and breakout sessions, including live impact showcases, highlighting key social impact areas such as climate solutions, scaling health resilience, youth and women empowerment, and technology-driven impact. Additionally, Day 2 is dedicated to impact investing, underscoring the region’s growing emphasis on amplifying impact through targeted funding.

Highlighted features of the three-day agenda include 3 key sessions. The first, “Why We Give: Values, Beliefs, and Motivations that Drive Impact” (23 April), highlights how beliefs can inspire transformative giving practices across diverse communities, and the role of values-aligned giving in addressing Asia’s most pressing social issues. “Forging the Impact Investing Ecosystem and Navigating Emerging Trends” (24 April) provides first-hand accounts from leading investors on building adaptive and resilient social investing strategies to deepen the impact. Meanwhile, “Rapid Response Philanthropy: Accelerated Giving in Times of Crisis” (25 April) recognises the need for strategic fund allocation to ensure needs are met in times of crisis. The session will highlight strategies for crisis-driven philanthropy, emphasising enhanced responsiveness, coordination, and impact.

Sultan Al Shamsi, Assistant Minister of Foreign Affairs for Development and International Organisations Affairs and member of the International Humanitarian and Philanthropic Council, said, “This year’s AVPN’s conference is the first to be held in the Middle East, bringing together diverse stakeholders to mobilise capital, partnerships, and momentum towards social impact across Asia. Its debut in Abu Dhabi reflects the UAE’s legacy and leadership in global development and the country’s unique ability to convene and unite diverse partners in the pursuit of shared prosperity. The UAE has a rich history and culture of giving, rooted in the example of our Founding Father, the late Sheikh Zayed bin Sultan Al Nahyan, whose lifelong commitment to helping those in need shaped the values of our nation – and has served to ensure Emiratis past and present understand their responsibilities as global citizens. Over the coming days, we look forward to dynamic conversations together as we explore opportunities to collaborate, innovate, and forge new alliances in support of humanitarian response as well as sustainable and inclusive development to ensure that no one is left behind.”

Naina Subberwal Batra, CEO of AVPN, said, “Hosting the AVPN Global Conference in Abu Dhabi comes at a crucial moment for the whole of Asia, a region currently navigating through transformative economic shifts with sustainability at their core. This transformation, while ambitious, must also be measured in societal terms. Achieving the targets set by the 2030 Agenda for Sustainable Development Goals (SDGs) demands a significant ramp-up in investments. With a financing gap of US$1.5 trillion urgently needing to be bridged, social investors must collaborate on multiple fronts to address our region’s socio-environmental challenges swiftly, efficiently, and fairly. The AVPN Global Conference continues to serve as a leading platform for facilitating and accelerating these efforts, and we are encouraged to see numerous stakeholders joining our shared mission towards meaningful social impact.”

Host partners such as the Khalifa Bin Zayed Al Nahyan Foundation, Reaching the Last Mile, Zayed Charitable & Humanitarian Foundation, Burjeel Holdings, and Alef Education have also lent their support to the Conference, representing the community and enhancing the region’s collaborative efforts. In addition, core partners lending their support and commitment to advancing social impact at the Conference include Emirates Red Crescent and the Bill & Melinda Gates Foundation; while lead partners include The Hong Kong Jockey Club Charities Trust, Johnson & Johnson Foundation, Visa Worldwide Pte Ltd, Abu Dhabi Investment Office (ADIO), Authority of Social Contribution – Ma’an, the Institute of Philanthropy, Abu Dhabi Early Childhood Authority, and First Abu Dhabi Bank (FAB).

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Abu Dhabi affirms readiness for adverse weather conditions

The Abu Dhabi Police General Command noted they operationalised emergency plans and deployed support patrols, in addition to taking several precautionary measures…reports Asian Lite News

Abu Dhabi Police are fully prepared to handle the challenging weather conditions expected in the emirate until April 17th. They will be working closely with all relevant authorities to ensure public safety.

Abu Dhabi Police and relevant entities, including the Abu Dhabi Civil Defence Authority (ADCDA), Department of Municipalities and Transport (DMT), Al Ain Municipality, Al Dhafra Municipality, and Abu Dhabi Department of Energy (DoE), will ensure to maintain the safety of the community and protect lives and property, Abu Dhabi Police General Command said in a statement today.

The Abu Dhabi Police General Command noted they operationalised emergency plans and deployed support patrols, in addition to taking several precautionary measures, including strengthening the manpower in the operations rooms.

The Abu Dhabi Police Command and Abu Dhabi Civil Defence Authority are urging the public to take all necessary precautions and follow the updates from the National Center of Meteorology and other official sources.

The two entities are also emphasising the importance of safe driving and following safety measures, including avoiding distractions while driving, adhering to speed limits during the implementation of the speed reduction system on the roads, maintaining a safe distance between vehicles, avoiding sudden braking, and slowing down when turning to prevent the vehicle from skidding.

The Department of Energy and energy sector companies have likewise raised their readiness of emergency and instructed urgent maintenance teams to respond quickly to all reports related to power outages resulting from weather fluctuations.

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World Future Energy Summit opens in Abu Dhabi today

The Summit will host its most comprehensive knowledge-sharing programme to date, featuring more than 350 of the energy sector’s leading international experts…reports Asian Lite News

The World Future Energy Summit 2024, hosted by Masdar, opens today at the Abu Dhabi National Exhibition Centre (ADNEC). Set to begin a three-day run, the 16th edition of the leading event for future energy and sustainability has a strong focus on advancing the change agenda laid down at COP28 in Dubai last November.

The Summit will host its most comprehensive knowledge-sharing programme to date, featuring more than 350 of the energy sector’s leading international experts, policymakers, academics, and future shapers. Each will deliver insights on how to navigate COP 28’s frameworks through five probing conferences and three dynamic forums.

“The combined speaker platform represents a high-density gathering of the industry’s foremost minds, each of whom will discuss and suggest potential pathways to achieving sustainability and renewable energy goals based on technology, changing policies, and evolving economics,” said Leen AlSebai, General Manager of RX Middle East and Head of the World Future Energy Summit.

“With a keen focus on the theme ‘The Energy To Lead’, this year’s Summit has emerged as a global think tank. Empowered by innovation, these experts and sector pioneers will bring to light solutions to our most crucial problems and cutting-edge solutions, which will inform the blueprints for a sustainable future. It will also firmly underline the UAE’s robust commitment to global sustainability and environmental cooperation.”

The Summit will feature six conferences focussing on Solar, EcoWaste, Water, Clean Energy, Smart Cities, and Climate & Environment, as well as a dedicated “Pathway to 1.5C” forum focused on outcomes from COP28 and two forums addressing Green Finance and e-Mobility.

The speaker platform reads like an almanac of the energy, commercial, and industrial sectors, featuring ministerial policymakers, scientists, financiers, business titans, digital disruptors, and agenda-setting climate change advocates. Together they will probe ways to unlock investment and find innovative instruments to close the climate finance gap, how to further private sector engagement with regulators and governments, integrate carbon into decision-making and asset valuation, and increase adaptation and resilience financing. They will also dig deep into various ways certain industries and sectors can contribute to tripling renewable power generation capacity to 11,000 GW, tripling nuclear energy by 2050, doubling energy efficiency this decade, reaching near zero-methane emissions by 2030, as well as cutting fossil fuels from the world’s energy production plans.

Delivering the opening address on guiding nations to a 1.5°C climate pathway will be Sheikha Shamma bint Sultan bin Khalifa Al Nahyan, President & CEO of the UAE Independent Climate Change Accelerators, followed by Francesco La Camera, Director-General of the International Renewable Energy Agency.

A running theme for day one, the Pathways to 1.5°C conference will also see Simon Birkebaek, Partner at BCG, discuss clean energy outcomes from COP28 and the road ahead, alongside a presentation by Mary Burce Warlick, Deputy Executive Director, International Energy Agency on delivering energy commitments and what actions are needed to meet Troika: Mission 1.5.

“To keep the goal of limiting global warming to 1.5 °C within reach, countries must quickly build on the important energy pledges they made at COP28. Now is the time to transform promises into actions,” said Warlick. “With even stronger international cooperation needed through COP29 and COP30, this Summit provides a crucial opportunity to share the latest data, best practices and toolkits to tackle common challenges on the road to a more secure and sustainable energy future.”

Other panel discussions will see speakers such as H.E. Eng. Saeed Ghumran Al Remeithi, Group CEO, Emirates Steel Arkan; Abdulnasser Bin Kalban, CEO, Emirates Global Aluminium; and Eng. Ali Al Dhaheri, MD and CEO, Tadweer Group discuss how to meet a 1.5°C climate threshold.

The Solar & Clean Energy Conference, also opening on day one, will see H.E. Eng Sharif Al Olama, Undersecretary for Energy and Petroleum Affairs at the UAE Ministry of Energy & Infrastructure (MoEI) open proceedings, with H.E. Ahmed Alkaabi, Undersecretary Assistant for Electricity, Water & Future Energy Sector at MoEI delivering the keynote address at the Water Conference.

This year’s knowledge programme also features its largest female participation, with women speakers set to bring a critical perspective to a range of issues from climate change to sustainable tourism, smart city technology to circular economy integration, workplace diversity to learnings from COP28. It will also host a dedicated panel discussion on female entrepreneurs leading decarbonisation innovation, and a dedicated area for its Climate Innovations Exchange (CLIX) initiative – a curated platform where female-led, run, or founded startups, as well as SMEs and innovators, can demonstrate game-changing products and solutions to a global audience.

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Abu Dhabi Crown Prince receives Dubai counterpart

Their Highnesses, joined by sheikhs, guests and the crowd of well-wishers, performed the Maghrib prayer. Following the prayer, they attended the Iftar banquet hosted by H.H. Sheikh Khaled bin Mohamed bin Zayed Al Nahyan…reports Asian Lite News

H.H. Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Chairman of the Abu Dhabi Executive Council, has received H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council of Dubai, today at Al Bateen Palace, where they engaged in warm discussions about the importance of promoting community ties and Emirati values of compassion and generosity during Ramadan.

Their Highnesses and accompanying guests offered prayers for the enduring health and wellness of our leadership on this occasion, and to uphold the blessings of security, stability, and ongoing prosperity of our nation, under the guidance of President His Highness Sheikh Mohamed bin Zayed Al Nahyan.

Their Highnesses, joined by sheikhs, guests and the crowd of well-wishers, performed the Maghrib prayer. Following the prayer, they attended the Iftar banquet hosted by H.H. Sheikh Khaled bin Mohamed bin Zayed Al Nahyan.

Together, they prayed for the continuance of these blessed days for the United Arab Emirates, and for the prosperity and welfare of both its leadership and its people. Their Highnesses also exchanged heartfelt wishes for the long-lasting prosperity and blessings of Arab and Islamic nations worldwide.

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Abu Dhabi to deliver Tourism Strategy 2030

H.E. Mohamed Khalifa Al Mubarak, Chairman of DCT Abu Dhabi, said : “The Tourism Strategy 2030 marks a pivotal moment in Abu Dhabi’s transformative journey, representing a vital lever in our ongoing evolution…reports Asian Lite News

His Highness Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Chairman of the Abu Dhabi Executive Council, has approved the new Tourism Strategy 2030 for the emirate. Spearheaded by the Department of Culture and Tourism – Abu Dhabi (DCT Abu Dhabi), the ambitious blueprint signals a new era of expansion and strategic development in the travel and tourism sector.

The Strategy seeks to boost visitor numbers from nearly 24 million in 2023 to 39.3 million by 2030 (overnight and same-day), with a 7% year-on-year growth. Moreover, it plans to significantly elevate the tourism and travel sector’s contribution to the UAE’s GDP, raising it from approximately AED 49 billion in 2023 to AED 90 billion annually by 2030.

The Strategy will generate an estimated 178,000 new jobs by 2030 as the entire tourism infrastructure develops to meet this demand. It intends to almost double international overnight visitors from 3.8 million in 2023 approximately to 7.2 million in 2030, expand hotel room availability from 34,000 in 2023 to 52,000 by 2030, and further enhance the holiday home segment to diversify accommodation options.

H.E. Mohamed Khalifa Al Mubarak, Chairman of DCT Abu Dhabi, said : “The Tourism Strategy 2030 marks a pivotal moment in Abu Dhabi’s transformative journey, representing a vital lever in our ongoing evolution. Delivered alongside our key partners, the Strategy underscores our steadfast commitment to fostering sustainable growth and strategic development in the travel and tourism sector. Through carefully crafted initiatives that will unlock economic opportunities, amplify our distinctive culture and enhance the emirate’s value proposition, we are laying the foundation for a vibrant and prosperous future that transcends generations.”

Fostering sustainable growth across four strategic pillars

To achieve the Strategy’s goals, 26 key initiatives have been identified across four strategic pillars: Offering and City Activation; Promotion & Marketing; Infrastructure & Mobility; and Visa, Licensing, and Regulations. These pillars form the foundation of Abu Dhabi’s comprehensive approach to realising its ambitious tourism targets and fostering sustainable growth in the sector.

The initiatives will be unlocked through the collective vision of DCT Abu Dhabi, the Abu Dhabi Department of Economic Development (ADDED), the Department of Municipalities and Transport (DMT), Abu Dhabi Airports Company (ADAC), and other key government and private stakeholders, who play a strategic role in bringing Abu Dhabi’s tourism vision to life.

The first pillar, Offering and City Activation, looks to further enhance the overall guest experience by unveiling additional cultural sites, theme parks, retails offerings and new hotel chains. Overall boosting the emirate’s events calendar of year-round concerts, festivals, and family events. The dining landscape will diversify significantly, offering expanded options including the introduction of culinary schools and training programmes.

DCT Abu Dhabi will also more than double its Promotion and Marketing efforts, expanding its international reach from 11 to 26 markets and enhancing synergy within Abu Dhabi’s tourism ecosystem. It will also establish strategic global partnerships with media outlets and well-known brands for high-profile collaborations, creating compelling, market-specific content across various touchpoints.

The Strategy’s Infrastructure and Mobility pillar will increase hotel room availability across various categories, including accessible and luxury options, glamping, and farm stays. Through valued collaborations, the emirate is set to enhance roads, public transport, and infrastructure, simplifying travel within and boosting visitor inflow through increased flight seat capacity with both local and international airlines.

Lastly, both visitor experience and tourism business operations will be greatly enhanced with streamlined Visa, Licensing and Regulation processes. In collaboration with relevant government agencies, enhanced platforms and processes will reduce time frames for all applications and permits, to improve the ease of doing business and attract investment.

Building on the success of 2023

In 2023, Abu Dhabi’s tourism sector saw a remarkable surge, welcoming nearly 24 million visitors. The 27% rise in hotel guests and 54% increase in international guests bolstered the economy with an approximate AED 49 billion contribution to the UAE’s GDP.

Arrivals from key international markets like India, Russia, United Kingdom, China and Kingdom of Saudi Arabia played a pivotal role in 2023, alongside the numbers attracted by the emirate’s vibrant array of over 150 events, its pristine beaches and natural landscapes, as well as its cultural sites such as Qasr Al Hosn, Qasr al Watan and Sheikh Zayed Grand Mosque, which attracted more than 8.7 million visitors. Offerings across museums, cultural festivals and art exhibitions saw record-setting attendance at Louvre Abu Dhabi and the inaugural Manar Abu Dhabi public art exhibition, underscoring the emirate’s diverse appeal.

Visitor numbers were further boosted by a 44% increase in MICE (Meetings, Incentives, Conferences, and Exhibitions) events. With 960,000 delegates across 2,477 events exploring Abu Dhabi’s attractions and dining options, the food and beverage sector saw a resultant 21% revenue increase. In addition, flagship entertainment events like the MOTN Festival and Formula 1 Etihad Airways Abu Dhabi Grand Prix, along with cultural milestones such as the Al Hosn Festival and the Liwa Festival, further solidified Abu Dhabi’s position as a global centre for leisure and tourism.

About the Department of Culture and Tourism – Abu Dhabi:

The Department of Culture and Tourism – Abu Dhabi (DCT Abu Dhabi) drives the sustainable growth of Abu Dhabi’s culture and tourism sectors and its creative industries, fuelling economic progress and helping to achieve Abu Dhabi’s wider global ambitions.

By working in partnership with the organisations that define the emirate’s position as a leading international destination, DCT Abu Dhabi strives to unite the ecosystem around a shared vision of the emirate’s potential, coordinate effort and investment, deliver innovative solutions, and use the best tools, policies and systems to support the culture and tourism industries.

DCT Abu Dhabi’s vision is defined by the emirate’s people, heritage and landscape. We work to enhance Abu Dhabi’s status as a place of authenticity, innovation, and unparalleled experiences, represented by its living traditions of hospitality, pioneering initiatives and creative thought.

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Abu Dhabi Real Estate Market Flourishes in Q1 2024

representative image

In the first quarter of 2024, Abu Dhabi’s real estate market experienced significant activity, totaling AED15.9 billion in transactions with 5,127 sales and mortgage deals. Data from the DARI platform of the Department of Municipalities and Transport (DMT) highlighted 2,919 sales transactions, totaling over AED9.6 billion, with a mix of ready-made and off-plan units…reports Asian Lite News

During the first quarter of 2024, the Emirate of Abu Dhabi saw a robust real estate market, with transactions totaling AED15.9 billion. This figure encompasses 5,127 sales and mortgage transactions involving a variety of property types, indicating significant activity and investment within the sector.

According to data from the DARI platform of the Department of Municipalities and Transport (DMT) in Abu Dhabi, the emirate logged 2,919 sales and purchases transactions in Q1 2024 totalling over AED9.6 billion. This includes 1,167 ready-made real estate units and 1,752 off-plan units.

DARI data showed that the Emirate of Abu Dhabi recorded about 2,208 mortgage deals during Q1, with a total value of AED6.3 billion.
Meanwhile, the top three real estate transactions logged in Abu Dhabi during the past week, with Al Saadiyat Island and Yas Island topping the list of the largest transactions for Aldar Properties projects. The total value of transactions on Yas Island amounted to AED23.5 million, while the one on Al Saadiyat Island totalled AED14.3 million.

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Abu Dhabi’s Industrial Sector Booms

During 2023, the number of new industrial licences issued jumped 51 percent, reaching 363 by year’s end…reports Asian Lite News

New data from the Abu Dhabi Chamber shows a surge in industrial licensing within the emirate (excluding free zones). During 2023, the number of new licences issued jumped 51 percent, reaching 363 by year’s end. This remarkable growth reflects Abu Dhabi’s rise as a regional industrial powerhouse.

The launch of the Abu Dhabi Industrial Strategy, spearheaded by H.H. Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Chairman of Abu Dhabi Executive Council, has further fuelled this transformation. This strategic initiative aims to significantly expand the industrial sector, boosting its contribution to the emirate’s GDP.

The Abu Dhabi Industrial Strategy has ambitious goals. It seeks to double the size of the manufacturing sector to AED172 billion, create 13,600 skilled jobs, and increase Abu Dhabi’s non-oil exports by 143 percent to AED178.8 billion, by 2031. Furthermore, the strategy seeks to improve the UAE’s ranking in global industrial competitiveness indicators, where the country already holds the top spot regionally and sits at 29th globally (according to the UNIDO Competitive Industrial Performance Index).

Statistics from the Abu Dhabi Chamber reveal a growing presence of foreign companies in the emirate’s industrial sector. In 2023, 46 foreign firms participated in 15 diverse industrial activities. The leading area of involvement is mining support services, attracting 13 foreign companies. Manufacturing sectors like chemicals and basic metals also saw significant foreign participation with 5 and 4 companies respectively.

The range of industrial activities in Abu Dhabi is extensive. It encompasses sectors like wood and wood product manufacturing (excluding furniture); paper and paper product manufacturing; rubber and plastic product manufacturing; fabricated metal product manufacturing (excluding machinery and equipment); waste collection, treatment, disposal, and material recovery; beverage manufacturing; machinery and equipment manufacturing; food product manufacturing; other non-metallic mineral product manufacturing; computer, electronic, and optical product manufacturing; electricity, gas, steam, and air conditioning supply; and water collection, treatment, and supply.

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Dubai, Abu Dhabi CPs Receive Ramadan Well-Wishers

During discussions with the guests, Hamdan said that Dubai’s economic achievements across sectors continue to reinforce the business community’s confidence in the economy’s sustained growth potential…reports Asian Lite News

H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of The Executive Council of Dubai, received Ramadan well-wishers at his Majlis in Nad Al Sheba, Dubai.

Sheikh Hamdan, in the presence of H.H. Sheikh Ahmed bin Mohammed bin Rashid Al Maktoum, Second Deputy Ruler of Dubai, and many other officials, accepted the greetings of well-wishers who included ministers, senior officials and directors, businessmen, entrepreneurs, and investors.

During discussions with the guests, Hamdan said that Dubai’s economic achievements across sectors continue to reinforce the business community’s confidence in the economy’s sustained growth potential.

Thanks to the forward-looking vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, Dubai has developed a resilient economic strategy centred around collaboration with the private sector, which promotes mutual success and growth, H.H. Sheikh Hamdan noted.

Emphasising the private sector’s role in supporting Dubai’s development journey, His Highness said that the strong partnerships between Dubai’s public and private sectors support the emirate in realising the objectives outlined in the Dubai Economic Agenda, D33.

The attendees conveyed their gratitude to the leadership for their steadfast commitment to supporting investors across diverse business sectors and their efforts to make Dubai the world’s best city to live, work and visit.

Meanwhile, His Highness Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Chairman of the Abu Dhabi Executive Council, received this evening at Al Bateen Palace a group of well-wishers for the holy month of Ramadan.

He exchanged congratulations and blessings with the group, which included sheikhs and senior officials from various civil, military and security organisations, as well as dignitaries and citizens.

The well-wishers prayed for a bright and prosperous future for the nation under the leadership of President His Highness Sheikh Mohamed bin Zayed Al Nahyan, and extended heartfelt wishes for enduring prosperity and blessings on Arab and Islamic nations worldwide.

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