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Dh8.2b real estate transactions in Dubai this week 

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A total of 2,135 real estate transactions worth Dh8.2 billion were conducted during the week ending April 1, 2022, according to figures released by the Dubai Land Department.

As many as 247 plots were sold for Dh1.45 billion, and 1,423 apartments and villas were sold for Dh3.09 billion.

The top three transactions were a land in Palm Jumeirah sold for Dh280 million, followed by a land that was sold for Dh30.67 million in Hadaeq Sheikh Mohammed Bin Rashid, and a land sold for Dh30 million in Al Warqaa third in third place.

Al Hebiah Fifth recorded the most transactions for this week by 121 sales transactions worth Dh265.54 million, followed by Al Merkadh with 29 sales transactions worth Dh262.46 million, and Hadaeq Sheikh Mohammed Bin Rashid with 15 sales transactions worth Dh225 million in third place.

The top three transfers for apartments and villas were an apartment was sold for Dh441 million in Marsa Dubai, an apartment was second in the list sold for Dh 306 million in Burj Khalifa, and thirdly it was an apartment sold for Dh276 million in Business Bay.

The sum of the amount of mortgaged properties for the week was Dh3.38 billion, with the highest being a land in Nad Al Shiba First, mortgaged for Dh1 billion.

In all, 79 properties were granted between first-degree relatives worth Dh290 million.

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e& life joins Dubai FinTech Summit as a Powered By sponsor

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: e& life, the business pillar of e& that brings the next-generation digital world to the consumer’s fingertips, has joined theDubai FinTech Summit (DFS), organised by Dubai International Financial Centre (DIFC), the leading global Financial Centre in the MEASA region. As a Powered By sponsor, e& life is dedicated to supporting innovative and future-thinking businesses on a global scale.

e& life leverages cutting-edge technologies to offer fintech, entertainment, retail, and mobility services through its smart platforms and apps.  Their fintech arm, e& money, has become a regional powerhouse, known for its user-friendly mobile financial services and its position as the UAE’s fastest-growing issuer of Mastercard debit cards.

Mohammad Alblooshi, Chief Executive Officer at DIFC Innovation Hub, said, “The path to true innovation lies in collaboration and the Dubai FinTech Summit strives to bring together global leaders, innovators and disruptive start-ups to shape the future of finance. The alliance between the summit and e& life demonstrates our mutual commitment to fostering a dynamic FinTech ecosystem to strengthen Dubai’s existing reputation as a leading business destination. Transforming challenges into opportunities, our goal is to create the most advanced, inclusive and technologically empowered financial community.”

Khalifa Al Shamsi, Chief Executive Officer at e& life, said, “The Middle East is at the forefront of a major transformation in financial services delivery, driven by technology shifting from traditional to innovative solutions. As a pioneer in the region’s flourishing FinTech sector, e& is driven by a bold vision to lead this change.

“Through strategic partnerships, we aim to fast-track progress and take the region’s FinTech potential to new heights. This partnership represents a valuable opportunity for both e& and its FinTech portfolio under the business pillar e& life to collectively imagine new possibilities, inspire breakthrough ideas, and catalyse impactful innovations. By bringing together the talent and resources within our ecosystems, we can accelerate the journey toward a future where financial services truly empower people across societies. We look forward to contributing our expertise to shaping discussions that will steer the direction of the industry and play a role in realising the UAE’s aspiration to become a global hub for financial innovation.”

In line with the Dubai Economic Agenda (D33) to position Dubai as the top four global financial hub by 2033, the 2nd edition of the Dubai FinTech Summit is designed to encourage cross-border collaboration and innovation, pivotal to transforming the global FinTech sector. It presents a unique opportunity to explore emerging FinTech trends and their potential to drive financial progress in the MEASA region.

The Dubai FinTech Summit, scheduled for May 6-7, 2024, at Madinat Jumeirah, Dubai, will see an unprecedented gathering of over 8,000 decision-makers, over 300 thought leaders and over 200 exhibitors showcasing cutting-edge technologies.

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SkyPower and ZETDC Sign landmark power purchase agreements for Zimbabwe’s largest solar project

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In a historic event at the World Future Energy Summit, SkyPower and the Zimbabwe Electricity Transmission and Distribution Company (ZETDC) have signed Power Purchase Agreements (PPAs), marking a significant milestone in the development of the largest solar project in the history of Zimbabwe. The agreements pave the way for the commencement of the Green Giant project, set to deliver 500 MW of solar power, capable of energizing approximately 2 million households.

As previously stated by His Excellency Emmerson Mnangagwa, President of Zimbabwe: “My presidential commitment is to enhance our energy sustainability through renewable energy by collaborating with world-class companies like SkyPower. Today’s signing is a landmark achievement for our nation, setting a robust foundation for our sustainable future.”

The signing ceremony in Abu Dhabi was witnessed by eminent personalities including the Honorable Edgar Moyo, Minister of Energy of Zimbabwe, Lovemore Mazemo, Ambassador of Zimbabwe to the UAE, Eng. Abel Gurupira, Managing Director of the Zimbabwe Electricity Transmission and Distribution Company, Mr. Mazambani Edington Tapera, Chairman of ZERA.

“This is a momentous day for Zimbabwe, demonstrating our commitment to transforming our energy sector and ensuring reliable power for our people”, stated by Eng. Abel Gurupira, Managing Director of the Zimbabwe Electricity Transmission and Distribution Company. Kerry Adler, President & CEO of SkyPower, highlighted the project’s importance, “We are proud to kick off the initial phases of the Green Giant project at this prestigious summit. This partnership exemplifies our dedication to promoting sustainable energy development globally.

Upon completion, this project will stand as a testament to Zimbabwe’s commitment to renewable energy and economic growth.”

“The significance of today’s event cannot be overstated. As we align our efforts with global energy transitions, this project underlines our strategy to integrate renewable energy into our national energy mix significantly,” remarked the Honorable Edgar Moyo.

This accomplishment highlights the country’s favorable environment and underscores the exceptional teamwork and dedicated efforts from both parties.

This initiative is expected to boost Zimbabwe’s economy significantly by creating thousands of jobs and fostering infrastructure development. It is aligned with global efforts towards achieving the UN Sustainable Development Goals and enhancing the quality of life for millions of Zimbabweans.

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UAE announces Eid Al Fitr holidays for private sectorUAE announces

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The UAE government has announced the official holidays for private sector employees across the country on the occasion of Eid Al Fitr.

The break will begin on Monday, April 8 and last till 3 Shawwal (or what is equivalent to it in the Gregorian date). As per the Islamic calendar, Ramadan lasts 29 or 30 days, depending on when the Moon is sighted. Eid Al Fitr is celebrated on the first of Shawwal.

The UAE Cabinet has confirmed a week-long public sector holiday to celebrate Eid Al Fitr. This aligns with the earlier announcement from the UAE Federal Authority for Government Human Resources. Government employees will be on paid leave from Monday, April 8 to Sunday, April 14, returning to work on Monday, April 15.
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