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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 petrol prices rise again: New fuel rates for October revealed

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Filling up in the UAE is about to get more expensive, with petrol and diesel prices rising across all categories from October 1.

UAE motorists are set to feel another pinch at the pump this month after the UAE Fuel Price Committee announced higher petrol and diesel rates for October 2026.

The increase means drivers will pay more per litre across every petrol category, while diesel prices have also moved higher.

Fuel prices for October

The new rates will take effect from Thursday, October 1. Here’s what motorists will pay:

Super 98: Dh4.40 per litre
Special 95: Dh4.28 per litre
E-Plus 91: Dh4.21 per litre
Diesel: Dh4.80 per litre

That means Super 98 rises by 60 fils per litre, while Special 95 and E-Plus 91 increase by 59 and 60 fils respectively. Diesel is up by 50 fils per litre.

How much more will a full tank cost?

For motorists, the increase could quickly add up over the course of a month.

For example, filling a 50-litre tank with Super 98 will cost Dh220 in October, compared with Dh190 in September, a difference of Dh30 per fill-up.

A 50-litre tank of Special 95 will cost Dh214, compared with Dh184.50 previously.

For E-Plus 91, the same tank will cost Dh210.50, up from Dh180.50.

Diesel drivers filling 50 litres will pay Dh240, compared with Dh215 in September.

Why are fuel prices changing?

The UAE Fuel Price Committee reviews retail fuel rates at the end of each month, with prices linked to movements in global energy markets.

UAE fuel prices have experienced notable fluctuations this year. Rates fell in July after several consecutive monthly increases, before moving higher again in August and September.

The latest increase comes amid continued volatility in global and regional energy markets.

What does this increase mean for household budgets?

For people who drive every day, higher fuel prices can have an effect beyond the cost of a single trip to the petrol station.

Commuters, families and businesses that rely heavily on road travel may see their monthly transport expenses rise, particularly if they fill up frequently.

Even a relatively small increase per litre can become more noticeable when multiplied across several refuelling trips over the month.

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Football community mourns ex-Chelsea star’s son after tragic desert hike

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Tributes have poured in after the son of former Chelsea star Eddie Newton was found dead alongside his friend following a hike in the UAE, where temperatures soared to 50C.

Cassius Newton, 34, and his friend Aran Martinson, 33, were found by rescuers on July 18 after setting out on a hike in the mountainous Wadi Naqab region.

The pair, from Dorset and Essex respectively, both lived and worked in the UAE. Their bodies were discovered between 3km and 4km from their vehicle.

According to a report, Chelmsford area coroner Michelle Brown said their provisional causes of death included cardiac and respiratory arrest.

Cassius, a non-league footballer, was the son of former Chelsea midfielder and coach Eddie Newton, who spent more than a decade with the club.

His wife was in the UK when she became concerned after Cassius failed to contact her following the hike and reported him missing.

The two men had been living at a luxury resort in Ras Al Khaimah.

Tributes after desert tragedy

Tributes poured in after the deaths.

Aran’s wife described him as “incredibly driven, hardworking and ambitious”, saying he had recently begun a new chapter in his career and was excited about the future.

Blackfield & Langley Football Club paid tribute to their former player, saying: “It is with heavy hearts that we share the sad news of the passing of former player Cassius Newton; our thoughts and deepest sympathies are with his family and friends during this difficult time.”

National League club Eastleigh, where Cassius had previously played, said it was “deeply saddened” by his death.

Chelsea connection

Cassius’ father Eddie Newton played for Chelsea from 1990 to 2001 and famously scored in the club’s 1997 FA Cup final victory.

The former midfielder also represented Cardiff City, Birmingham City, Oxford United and Barnet.

After retiring as a player, Newton moved into coaching, working as assistant manager at MK Dons and West Brom before returning to Chelsea.

He later served as assistant manager under Roberto Di Matteo and Rafael Benítez.

(With inputs from BBC, The Sun)

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Dubai drivers warned of delays due to Oud Metha Road bridge diversion this weekend

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Dubai motorists face a temporary traffic diversion this weekend as road improvement works get underway on a key route.

Dubai’s Roads and Transport Authority (RTA) has announced a temporary diversion on the slow lane of the bridge connecting Oud Metha Road towards Abu Dhabi and Port Rashid.

The traffic change will begin at 11pm on Friday and remain in effect until 6am on Sunday, allowing development work to be completed in the area.

Drivers urged to allow extra time

Motorists travelling along the affected route are being advised to plan their journeys ahead of time and allow additional time for their trips.

Drivers should also pay close attention to road signs and traffic directions while the diversion is in place to avoid delays and ensure they reach their destinations smoothly.

New tunnel opens to ease congestion

The latest traffic diversion comes as Dubai continues to expand and upgrade its road network.

Earlier, the RTA opened a 260-metre single-lane tunnel linking Dubai–Al Ain Road with Oud Metha Service Road. The tunnel can handle as many as 1,200 vehicles per hour and is designed to improve traffic movement and reduce congestion.

The new link forms part of the broader Oud Metha Road and Al Asayel Street Development Project, a major infrastructure programme aimed at improving connectivity across the area.

According to an RTA update issued in late July, the project had reached 90 per cent completion at that stage.

Once completed, the improvements are expected to increase the traffic-handling capacity of Oud Metha Road by 50 per cent, helping create smoother journeys for motorists and improving connections to major destinations across Dubai.

For drivers using the Oud Metha area this weekend, however, the message is simple: check your route, leave early and follow the temporary traffic signs.

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