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Abu Dhabi’s Aldar records best quarter ever on deals, with Dh2.69b in Q3-21

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Occupied offplan dispatch plan is actually benefiting Aldar, and drawing in more youthful purchaser

Dubai: Abu Dhabi ace engineer Aldar is feeling the full advantages from consistent off arrangement dispatches and its expectation on conveying progressing projects. Net benefit for the initial nine months of 2021 are at Dh1.54 billion – and that comes from a 28 percent year-on-year increment.

In the July to end September period, the organization recorded improvement deals of Dh2.69 billion – its most noteworthy ever in any quarter. A “enhancing private purchaser and financial backer profile with expanding number of more youthful and female purchasers” was refered to by the engineer for the business spike.

“Aldar’s solid monetary and working presentation this year proceeded into Q3, mirroring our capacity to support development,” said Talal Al Dhiyebi, Group CEO. “As post-pandemic recuperation built up speed, our enhanced organizations kept on bouncing back at pace, with the second from last quarter conveying Dh2.69 billion being developed deals, supplemented by strong renting movement for our retail and business venture property portfolios.”

Aldar was the main designer in the UAE to get once again into offplan dispatch mode after the COVID-19 made break and it has kept the dispatches coming through occasionally this year too, focussed for the most part on the Yas Island.

“We hope to see working exercises across our business and retail resources keep on developing in accordance with the macroeconomic recuperation that is well in progress,” the CEO added. “Aldar keeps on looking for alluring and worth accretive speculation freedoms to develop our arrangement of working resources and we intend to carry all the more new advancements to the market, driven by our extending customer base, including abroad financial backers.”

Last quarter, the Abu Dhabi organization additionally made a drive into Egypt through a proposal for SODIC, one of the greater players in that market.

Income gains in same direction

With initial nine-month improvement deals at Dh6.14 billion, Aldar’s general incomes for the period was Dh6.32 billion, up 8 percent on 2020. Net benefits were at Dh2.43 billion. (In another enormous silver lining, the income accumulation likewise hit a record Dh5.86 billion, “supporting future income perceivability”.) All of the new deals age is assisting Aldar with hardening its money position, which was parted between Dh3.6 billion of unlimited money and Dh4 billion in undrawn submitted offices. These will assist with ‘feasible long haul development openings,” the designer said.

Obviously, the retail portfolio – with resources like Yas Mall – likewise recorded a ricochet back, with higher footfall and deals coming to up to “close pre-Covid” levels.

Update on Egypt bargain

Aldar is as yet anticipating administrative leeway in Egypt for the SODIC securing. Aldar has lined up with another Abu Dhabi substance – ADQ – in setting up the deal.

It was recently that Aldar talked about a section into new business sectors, mirroring an adjustment of its functional model and a selective spotlight on its headquarters.

SODIC is one of the greater names in the Egypt land space, with a portfolio that ranges for the most part upscale masterplanned networks.

Closer home

Aldar additionally sees openings opening up to gain huge land banks in Abu Dhabi – and somewhere else in the UAE. That would incorporate retail and instructive resources just as private, as per Fewer. Additionally, there will a nearer investigation of potential outcomes in the coordinations and warehousing, which after the pandemic drove interruption has become hot property.

“We think there is opportunities for loads of combination in Abu Dhabi,” said Greg Fewer, Chief Financial and Sustainability Officer. “Aldar has the solid capacity to make groundbreaking acquisitions.”

Obviously, it has the money close by to make those arrangements conceivable, when one appears The close to Dh7 billion has its employments. “Stay fluid when enormous portfolios become accessible out of nowhere,” said Fewer.

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UAE waives Dh834 million in debt interest for low-income retirees

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In a major humanitarian initiative announced ahead of Eid Al Adha, the UAE has approved the cancellation of accumulated interest and profit charges on loans owed by low-income retirees across the country.

The financial relief package, launched under the directives of UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan and closely followed by Sheikh Mansour bin Zayed Al Nahyan, Vice President, Deputy Prime Minister, and Chairman of the Presidential Court, is being implemented by the Defaulted Debts Settlement Fund in partnership with several UAE banks. 

Valued at more than Dh834 million, the initiative is designed to ease financial pressures on 2,339 senior citizens while strengthening social stability and supporting family wellbeing across the country.

The initiative specifically targets Emirati retirees aged 50 and above who fall within limited-income categories.

Under the mechanism announced, participating banks will waive future interest and profit charges on outstanding loans while beneficiaries continue repaying only the original loan amount through flexible payment schedules.

Among the banks contributing to the initiative, Abu Dhabi Commercial Bank Group accounted for the largest share at Dh655 million, followed by First Abu Dhabi Bank with Dh150 million. Abu Dhabi Islamic Bank contributed Dh18.5 million, while Emirates NBD Group and Emirates Islamic Bank jointly provided Dh6.7 million.

Other participating institutions included Dubai Islamic Bank with Dh2.3 million, Commercial Bank of Dubai with Dh792,000, Sharjah Islamic Bank with Dh716,000 and the National Bank of Ras Al Khaimah with Dh566,000.

Officials confirmed that beneficiaries will be contacted directly by participating banks and financial institutions regarding the implementation process and revised repayment arrangements.

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Here’s when Eid Al Adha prayers will begin across the UAE

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Mosques and Eid prayer grounds across the UAE are preparing to welcome thousands of worshippers as expected. Eid Al Adha prayer timings have been revealed across the country.

According to preliminary astronomical calculations, Eid prayers are likely to begin between 5:39am and 5:50am on the first morning of Eid Al Adha, following the traditional Islamic practice of holding prayers shortly after sunrise.

Abu Dhabi is expected to hold Eid prayers at around 5:50am, while worshippers in Dubai and Al Ain are anticipated to gather at 5:45am. Prayer timings in Sharjah and Umm Al Quwain are expected at 5:43am, Fujairah at 5:41am, Ras Al Khaimah at 5:40am and Ajman at approximately 5:39am.

Authorities have completed preparations at hundreds of mosques and open-air prayer grounds across the Emirates to accommodate the large crowds expected during the holiday.

Abu Dhabi timings

In Abu Dhabi, some of the main Eid prayer venues include Musalla Al Mushrif, Bani Yas Musalla, Mohammed bin Zayed City Musalla and the iconic Sheikh Zayed Grand Mosque.

Dubai will also host large congregations at several designated prayer grounds, including Nad Al Hamar Musalla, Al Warqa Musalla, Jumeirah Musalla and Sheikh Rashid bin Saeed Mosque in Zabeel.

Meanwhile, Sharjah authorities have identified major Eid prayer locations such as Al Badee Musalla, Al Gharb district Musalla and Al Khan Musalla, along with prayer sites on Abu Musa Island.

Worshippers observe several Sunnah traditions before attending the Eid prayers. These include bathing, wearing clean or new clothes, reciting takbeer while travelling to prayer grounds and delaying meals until after prayers and sacrificial rituals are completed.

Authorities across the UAE have stepped up preparations for the festive period, increasing services at mosques, public parks, shopping areas and recreational facilities ahead of the holiday rush.

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Inside Dubai’s massive push to plant thousands of vibrant flame trees

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If you’ve driven down Jumeirah Street, Airport Road, or along the Dubai Canal recently, you’ve likely noticed a spectacular change in the landscape. Striking canopies of vibrant orange and scarlet flowers are blanketing the city, signalling the arrival of a beloved local season: the flame tree’s (Delonix regia) bloom.

With more than 50,000 of these iconic trees already lining the emirate’s roads and parks, Dubai is set to grow even greener. A new sustainability initiative will see 1,200 more flame trees planted across the emirate’s streets, public squares, and communities over the coming months.

The green push follows an inspiring vision shared by Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister, Minister of Defence, and Chairman of the Executive Council of Dubai, who described the tree as a symbol of “a city full of life and beauty.” Following his directives to expand the vibrant canopy, Dubai Municipality recently completed the planting of 1,000 flame trees along Amman Street and in Mirdif.

Now, outsourcing visa giant VFS Global has pledged to plant the next batch of 1,200 trees. The initiative is part of a global sustainability drive by the company, which has seen over 650,000 trees planted worldwide over the last four years to combat greenhouse gas emissions.

But why is Dubai investing so heavily in this specific tree? It turns out the flame tree offers far more than just a stunning backdrop for photos.

Nature’s own air conditioning

While many flowering plants struggle as the Arabian summer heat rolls in, the flame tree thrives. Originally native to Madagascar, the species has adapted strongly to the UAE’s climate over several decades, handling hot, humid conditions with ease.

Sourced locally from the Wadi Dafta Plantation, an Emirati-owned agricultural enterprise, these trees can reach towering heights of up to 15 meters. Their expansive, umbrella-like shape creates dense, natural shade that reduces heat exposure and creates cooler microclimates within urban environments, significantly improving pedestrian comfort during the hot summer months.

A boost for urban biodiversity

Beyond providing a natural cooling effect for concrete spaces, the tree plays a vital role in the emirate’s long-term environmental resilience. During its blooming season, the dense scarlet flowers attract a wide variety of birds, butterflies, and local pollinators, giving a much-needed boost to local urban biodiversity.

Growing the green canopy at home

The campaign isn’t just for major highways and public parks. To help the entire community get involved in Dubai’s green future, seedlings are also being made available to residents who wish to plant these beautiful, fiery canopies at home or on their private farms.

Whether it is lining a 10-km stretch on the city’s busy roads or shading a neighbourhood park, the flame tree has firmly cemented itself as a defining feature of the UAE summer, bringing natural comfort and a burst of life exactly when the city needs it most.

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