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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 approves paid leave for employees with communicable diseases under draft law

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Employees in the UAE who are diagnosed with a communicable disease, suspected of being infected, or identified as close contacts during an epidemic or pandemic could soon receive paid leave without it affecting their annual leave entitlement, under amendments approved by the Federal National Council (FNC).

The amendments form part of a draft federal law on combating communicable diseases, which was approved by the FNC during its session on Wednesday.

What the amendments mean

Under the proposed changes, employers will be required to prevent an employee from attending the workplace if they:

  • Are infected with a communicable disease.
  • Are suspected of having a communicable disease.
  • Have been identified as a close contact during an epidemic or pandemic.

The measure applies if the employee’s presence is likely to pose a health risk to others in the workplace.

Paid leave without affecting annual leave

The amendments also protect employees’ leave entitlements.

If an employee is required to stay away from work for health reasons under the law, the period of absence:

  • Will not be deducted from statutory leave entitlements.
  • Will be fully paid, with the employee continuing to receive their wage or gross salary.

To qualify, the employee must provide a certificate issued by the competent health authority.

FNC approves amendments

The amendments were approved during an FNC session attended by Minister of Health and Prevention Ahmed bin Ali Al Sayegh.

According to the FNC, the draft law was first submitted to the Council in March following approval by the Council of Ministers.

The President of the FNC referred the proposed amendments to the Health and Environmental Affairs Committee, which reviewed the changes during a meeting on July 6.

After examining the proposals and their role in strengthening the implementation of the law, the committee endorsed the amendments before they were approved by the Council.

If the draft law completes the legislative process and comes into force, it will strengthen workplace health protections while ensuring employees do not lose pay or annual leave when required to isolate because of communicable diseases.

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How to pay UAE immigration fines and visa fees in easy instalments

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Paying for UAE visa, residency and identity services has become more flexible, with the Federal Authority for Identity, Citizenship, Customs and Port Security (ICP) introducing a new instalment payment option through Tabby.

The new feature allows customers to split the cost of eligible ICP services into monthly instalments, making it easier to manage payments for applications such as visas, Emirates ID and other government services.

What’s new?

Alongside its existing Easy Payment service, which is offered in partnership with 10 national banks, ICP has added Tabby as a payment option on its electronic payment platform.

Eligible customers can pay service fees in instalments over three, six or 12 months for transactions worth up to Dh20,000, subject to Tabby’s credit assessment.

How it works

When completing an application through ICP’s digital platform, customers simply need to:

  • Proceed to the payment page.
  • Select their preferred payment option, Tabby or Easy Payment.
  • Complete the payment process based on the available instalment plan.

Approval for instalment payments depends on the customer’s credit eligibility.

Improving customer experience

ICP said the initiative is part of its ongoing efforts to improve customer experience by offering more convenient and flexible financial solutions.

By expanding payment options, the authority aims to make government services more accessible while giving citizens and residents greater flexibility in managing service-related expenses.

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Dubai Chambers launches one-stop digital platform to help businesses start, grow and expand

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Starting and growing a business in Dubai is set to become easier with the launch of Business in Dubai, a new digital platform by Dubai Chambers that brings together essential corporate services in one place.

Designed as a single gateway for companies, the platform connects businesses with trusted service providers, helping them access everything from financial solutions to technology, marketing and certification services without having to navigate multiple channels.

The initiative aims to simplify business operations while strengthening Dubai’s position as one of the world’s most competitive destinations for investment and entrepreneurship.

What does the platform offer?

The Business in Dubai platform currently provides 65 corporate services through seven accredited partners, offering companies a wide range of support as they establish or expand their operations in the emirate.

The services are grouped into four key categories:

  • Financial services
  • Marketing and business growth services
  • Technology services
  • Testing, inspection and certification services

The current network of partners includes ZENDATA Cybersecurity, FAST Ventures, Mamo, OCTA, SGS Gulf Limited, Vault, and Pemo.

Helping businesses grow

Dubai Chambers said the platform has been designed to save companies time and resources by bringing multiple business services under one digital roof.

Khalid AlJarwan, Executive Vice President of Commercial and Corporate Services at Dubai Chambers, said the initiative reflects the organisation’s commitment to creating an environment that supports business growth both locally and internationally.

He said the platform will strengthen Dubai’s investment ecosystem by making it easier for companies to access the services they need to scale their operations and contribute to the emirate’s long-term economic development.

Boost for the digital economy

Saeed Al Gergawi, Vice President of Dubai Chamber of Digital Economy, said the platform will particularly benefit businesses operating in the digital economy by simplifying access to trusted service providers.

He added that the initiative creates a more flexible and efficient business environment, enabling entrepreneurs and companies across different sectors to focus on growth rather than administrative processes.

A single digital gateway

By consolidating key business services onto one platform, Dubai Chambers aims to reduce the time and effort companies spend searching for service providers, allowing them to concentrate on innovation, expansion and day-to-day operations.

The launch forms part of Dubai’s wider efforts to strengthen its business ecosystem and reinforce its position as a leading global hub for trade, investment and entrepreneurship.

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