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Gargash Group partners with Mashreq for Sustainable Finance

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In a strategic step towards achieving its sustainability goals, Gargash Group, a leading business enterprise in the UAE, has partnered with Mashreq, one of the leading financial institutions in the MENA region. This collaboration, officially inaugurated with an MoU signing ceremony at the Mercedes-Benz Brand Center in Dubai Design District, was crystalized with their debut Green Loan that was extended earlier for a number of projects across Gargash Group. The two institutions are also in discussion on future ESG integration initiatives for the Group, including but not limited to other Sustainability-Linked facilities.

By obtaining its first Green Loan, Gargash Group aligns itself with a prestigious and select group of UAE enterprises that have leveraged impactful and sustainable financing solutions. The partnership aims to promote and advance robust sustainability agendas for both Gargash Group and Mashreq by setting and achieving ambitious sustainability targets.

As a tangible expression of these goals, Gargash Group is planning solar installations across 25 sites in the next three years, with an energy potential totaling over 5 MW. While 5 sites are expected to be completed as early as 2025, plans are also underway to execute energy efficiency projects spanning across 25 of its sites. Finance requirements for these plans are to be covered through the Green Loan facility from Mashreq.


Walid Hizaoui, Group Chief Strategy Officer at Gargash Group shared his insights at the event, stating, “This partnership marks a critical milestone in our sustainability journey. With a reliable and trusted banking partner supporting us, we are wholeheartedly committed to integrating sustainability practices into every aspect of our operations for a greener future. We have meticulously scoped our businesses and implemented the necessary infrastructure to monitor our progress towards decarbonization—our ultimate long-term goal. This initiative not only underscores our unwavering commitment to reducing the nation’s carbon footprint but also aligns with the UAE Green Agenda 2030 and UAE Net Zero Strategy 2050, promoting sustainable practices across the board.”

Thomas Schulz, General Manager Mercedes-Benz Passenger Cars at Gargash Enterprises, added, “This is an important milestone that will help drive the Mercedes-Benz brand forward, a brand long rooted in values of innovation and sustainability. This collaboration is a main catalyst fueling our commitment to achieve net zero carbon emissions by 2030 in the UAE. Our commitment to this objective reflects our dedication to the brand and our responsibility to the UAE, as we push forward in sustainable mobility. With a solid framework in place, we are confident our efforts will drive meaningful progress towards a greener future.”

Karim Amer, Head of Automotive Sector at Mashreq commented, “Mashreq is proud to support Gargash Group’s transition towards a sustainable future through their inaugural Green Loan and other potential Sustainability-Linked facilities. This financing is designed to enable remarkable reductions in emissions and accelerate decarbonization initiatives which we have been actively driving across the Automotive sector, through proactive engagement with our clients on both formulization as well as execution of their Sustainability Strategies. By aligning financial incentives with sustainability objectives, we aim to enhance operational efficiencies for our partners and set a benchmark that encourages other organizations to integrate energy efficiency and sustainability into their core strategies.”

The partnership between Gargash Group and Mashreq is a significant step forward in the collective effort to achieve a sustainable future and it also demonstrates their commitment to a more responsible and environmentally conscious business landscape.

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Inside The Plaza at Uptown Dubai: An open-air venue set to transform the city’s business and events scene

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In a city that thrives on bold ambition and global connection, a new landmark has quietly taken its place at the heart of Dubai’s business future.

DMCC has officially opened The Plaza at Uptown Dubai, a 21,000 square metre open-air destination designed to host everything from high-level corporate summits to large-scale concerts and community gatherings.

For UAE residents and business leaders alike, this isn’t just another development announcement. It’s a signal that Uptown Dubai is stepping into a new era.

A new gathering space in town

Strategically positioned at the centre of Uptown Dubai, The Plaza physically connects the iconic Uptown Tower with the district’s wider commercial and residential community.

Designed to accommodate up to 4,000 guests, the venue features advanced staging, lighting and digital display infrastructure, enabling year-round programming and rapid event turnover.

For Dubai’s fast-moving corporate ecosystem, that means seamless hosting of:

  • Global trade conferences
  • Finance and technology forums
  • Industry expos
  • Cultural performances
  • Community celebrations

In a city known for world-class event venues, The Plaza adds something different: scale, accessibility and integration within a thriving business district.

For UAE residents, the venue offers more opportunities for networking, collaboration and global visibility without leaving the city.

Next business hub taking shape

The Plaza’s launch comes as Uptown Dubai moves into its next development phase.

Currently under construction:

  • Two commercial towers (23 and 17 storeys)
  • 62,000 square metres of additional Grade A commercial and retail space

Once complete, the full district will deliver:

  • 538,000 square metres total gross floor area
  • 232,000 square metres dedicated to Grade A commercial office space

What’s in it for residents

For professionals, it means:

  • More international events are hosted locally
  • Increased networking and industry exposure
  • Expanded commercial opportunities

For residents, it offers:

  • Open-air concerts and cultural events
  • Community experiences within a premium urban setting
  • A new social hub integrated into Dubai’s skyline

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Sheikh Mohammed appoints Abdulla bin Damithan to lead Dubai Ports body as DP World names new CEO

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In his capacity as Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, has issued a decree appointing Abdulla bin Damithan as Chairman of the Ports, Customs and Free Zone Corporation.

The appointment places one of the UAE’s most experienced trade and logistics leaders at the helm of one of Dubai’s most strategically important economic entities.

A Veteran in Ports and Global Trade

Abdulla bin Damithan brings more than two decades of experience in ports, logistics and international trade. He currently oversees DP World’s operations across the Gulf Cooperation Council (GCC) region, managing ports, economic zones, marine services and trade solutions.

He previously served as CEO and Managing Director of DP World UAE, where he led strategic growth across key regional markets. He oversees Jebel Ali Port and Jebel Ali Free Zone (Jafza).

Bin Damithan joined DP World in 2001 and has since held several senior leadership roles, contributing to the company’s transformation into a global provider of smart trade and logistics solutions.

New Leadership Appointments at DP World

Separately, DP World confirmed the appointment of Essa Kazim as Chairman of its Board of Directors, alongside the appointment of Yuvraj Narayan as Group CEO.

Kazim currently serves as Governor of the Dubai International Financial Centre (DIFC) and Chairman of Borse Dubai. He brings extensive expertise in financial and economic affairs, having held senior leadership positions across several national institutions.

Narayan, who joined DP World in 2004, has played a key role in leading strategic and transformational initiatives that strengthened the company’s global footprint.

Serving as Group Chief Financial Officer since 2005, Narayan has been instrumental in enhancing DP World’s financial resilience, operational efficiency and supply chain capabilities worldwide.

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Dubai Loop explained: What Elon Musk’s underground transport project means for city’s residents

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Getting around Dubai could soon become much faster and easier. The city has confirmed that work on the Dubai Loop, an underground high-speed transport system developed by Elon Musk’s Boring Company, is set to begin soon, starting in some of Dubai’s busiest areas.

The announcement was made by Matar Al Tayer, Director General and Chairman of the Board of Executive Directors of the Roads and Transport Authority (RTA), at the World Government Summit.

The project aims to cut travel times, reduce traffic congestion, and make daily commutes smoother, especially in high-density districts.

So, what exactly is the Dubai Loop?

The Dubai Loop is a network of underground tunnels where electric vehicles will transport passengers directly from one station to another, without stopping in between. Think of it as skipping traffic lights, junctions and road congestion altogether.

Once completed, the system will span 24 kilometres and could move up to 20,000 passengers every hour, with plans to expand capacity even further in the future.

Where will it start?

The first phase of the project will launch in key areas that many residents already commute through daily:

  • Dubai International Financial Centre (DIFC)
  • Dubai Mall area

These locations were chosen because they see some of the heaviest traffic in the city, especially during peak hours.

When is it happening?

According to Dubai’s Roads and Transport Authority (RTA), construction on the first phase will start immediately once contracts are finalised.

  • First phase: 6km (costing Dh600 million)
  • Total project: 24km (Dh2.5 billion)
  • Estimated completion: Around two years

How fast will it be?

Very fast. The vehicles inside the Dubai Loop could travel at speeds of up to 160km/h, meaning residents could move between major destinations in just minutes.

Why underground?

By going underground, Dubai avoids:

  • Road closures and surface disruption
  • Weather-related delays
  • Expensive road expansion projects

The tunnelling technology used is also cheaper and faster than traditional road construction, helping the city deliver infrastructure efficiently.

How will this help residents?

For people living and working in Dubai, the Dubai Loop could mean:

  • Shorter commutes in congested areas
  • Less time stuck in traffic
  • Better connections between business districts, malls and transport hubs
  • A smoother “first and last mile” journey to metro stations

The system is expected to serve around 13,000 passengers daily in its early stages, with numbers growing as the network expands.

Has this worked elsewhere?

Yes. A similar underground transport system already operates in Las Vegas, where it has carried more than 2 million passengers since 2021. Dubai’s version will build on that experience, adapted for local needs.

What’s next?

Dubai Loop is part of the emirate’s broader push towards smart, sustainable transport. If successful, the network could expand to more areas of the city, helping residents get from A to B faster, without adding more cars to the roads.

For Dubai residents, this could mark the beginning of a new era of stress-free commuting beneath the city streets.










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