Connect with us

Business

Dubai ranks top for cultural and creative projects, says FDI data

Published

on

Dubai has achieved top global ranking in attracting Foreign Direct Investment (FDI) projects in the cultural and creative industries in 2022.

The emirate attracted a record-breaking 451 projects, which represents an increase of 107.7 per cent, and surpasses the likes of London, Singapore, Paris and Berlin.

That’s according to the Department of Economy and Tourism’s (DET) Dubai FDI Monitor report based on data from the Financial Times’ ‘fDi Markets,’ a leading source on Greenfield FDI projects.

Dubai’s total FDI capital flows in the cultural and creative industries surged to AED 7.35 billion in 2022, ranking the city 1st in the MENA region and 12th globally (up from 14th in 2021).

This FDI generated an estimated 12,368 jobs, positioning Dubai 1st in the MENA region and 6th globally (maintaining the same level as 2021) in job creation in FDI.

Sheikha Latifa bint Mohammed bin Rashid Al Maktoum, Chairperson of Dubai Culture and Arts Authority and Member of the Dubai Council, said the latest ranking reflects the emirate’s unique approach and reflects the strength and maturity of its infrastructure and its legal, legislative, creative and digital environment.

The United States, India, the United Kingdom, France and Switzerland emerged as the leading foreign direct investors in Dubai’s cultural and creative industries in terms of FDI projects.

According to the data, Greenfield (wholly-owned) FDI projects accounted for 76 per cent of the total, followed by New Forms of Investments (NFIs), which accounted for 13 per cent, Mergers and Acquisitions and Reinvestment projects making up 5 per cent each, and Greenfield (joint-ventures) at 1 per cent.

Announcements

UP Nawabs Set for Debut in AD T10 League

Published

on

The AD T10 League is proud to introduce its newest franchise, UP Nawabs, owned by philanthropist and venture capitalist Lavish Choudhary. Originally from Uttar Pradesh, Choudhary’s journey from Ghaziabad and Muzaffarnagar reflects his deep connection to his roots and a lifelong passion for cricket. This new venture allows him to combine his love for the sport with his strategic investment approach to create a team that represents the spirit and resilience of Uttar Pradesh.

Lavish Choudhary, an ardent cricket enthusiast, shared his aspirations for the team: “Cricket has been a fundamental part of my life, and owning a franchise in the AD T10 League is a dream realized. With UP Nawabs, I aim to bring the pride of Uttar Pradesh to the global stage and establish our presence as a formidable contender in the league.”

The UP Nawabs are ready to make a strong debut in the upcoming 8th season of the AD T10 League, armed with a talented lineup of players including explosive wicketkeeper-batsman Rahmanullah Gurbaz, dynamic fast-bowler Tymal Mills, power-hitting batsman Andre Fletcher, skilled leg-spinner Adil Rashid, and accomplished top-order batsman Dawid Malan. The blend of international talent positions the team as a competitive force as they prepare to mark their arrival.

The AD T10 League’s 8th season will be hosted at Zayed Cricket Stadium in Abu Dhabi, which has become the new home of T10 cricket, offering a platform for rapid 90-minute matches that captivate audiences with just 120 balls per game. The format’s immense popularity since its inception in 2017 has established it as a fast-paced spectacle, expected to attract over 100,000 fans this season.

With Lavish Choudhary’s commitment to excellence and leadership, the UP Nawabs aim to make a significant impact in the tournament and bring pride and recognition to Uttar Pradesh.

About Lavish Choudhary
Lavish Choudhary is a renowned philanthropist and venture capitalist with a diverse portfolio spanning technology, hospitality, and sports. As a native of Uttar Pradesh, he has dedicated his career to empowering communities and promoting sportsmanship. Through his latest venture, UP Nawabs, he aspires to inspire young cricketers and fans from his home state.

This version focuses on the 8th season of the AD T10 League and aligns with the context of UP Nawabs’ debut.

Continue Reading

Announcements

Colliers Project Leaders, Middle East secures $250-million World Trade Center, Yerevan project

Published

on

Leading diversified project management firm, Colliers Project Leaders – Middle East, has won the mandate to deliver end-to-end project management solutions for Armenia’s new World Trade Center in Yerevan, valued at USD ~250 million. A public-private partnership between the Armenian government and Renshin Ltd., the project is designed to be a state-of-the-art mixed-use development that will be home to commercial spaces, offices, retail outlets, hotels and exhibition halls. Well known for its expertise in the real estate industry and project management, Colliers has a proven track record of delivering large-scale, marquee projects including the World Trade Center in Bengaluru, India.

Colliers Project Leaders has a growing presence in the Middle East and has earned widespread recognition for its delivery of superior projects over the years, across segments like infrastructure, residential, education, healthcare and office. Known for its visionary leadership and the adoption of advanced tools and technologies, the firm has been redefining project management in the Middle East.

“We have always placed a strong emphasis on consistently growing our capabilities to keep up with the needs of the market. Whether it is the adaption of global best practices or the development of pioneering technologies, our end goal has always been to deliver superior outcomes. A project of this scale requires industry-leading strategic and technical expertise, which is our proven capability. We are grateful to Renshin Limited and the Government of Armenia for entrusting us with this marquee assignment and look forward to collaborating with our internal and external stakeholders in Middle East, India and Georgia to bring it to life.”, says Sankey Prasad, Chairman & Managing Director, Middle East & India, Colliers.

“The World Trade Center Yerevan project is a mixed-use, net-zero, landmark real estate development promising to become the new face of Yerevan. To deliver upon this promise, we are engaging the top talent, top expertise, and top global firms. After a rigorous and tough tendering process, we are glad to announce that Colliers Project Leaders were selected to become our trusted partners. We are especially happy and proud that our project has triggered Colliers International Group Inc. – Nasdaq & Toronto listed, Canada-based global professional services and investment management company, specializing in real estate, to enter Armenia and set up a permanent presence. This move is fully aligned with WTCY mission to promote international business relationships and expand Armenia’s participation in the world trade and investment. Looking forward to work with our esteemed Colliers colleagues in this unique endeavour”, says Artashes Tonoyan, CEO & Executive Committee Chair, World Trade Center Yerevan.

Continue Reading

Announcements

World Tennis League announces partnership with sportswear brand XRT

Published

on

The World Tennis League (WTL) has announce their partnership with XRT, the premium British performance and sportswear brand, ahead of its eagerly anticipated third season. This collaboration promises to redefine the synergy between athletic performance and sports fashion, enhancing the experience for players and fans alike.

Set against the backdrop of the iconic Etihad Arena, the World Tennis League Season 3 will take place from December 19 to 22, 2024. The stellar lineup of tennis stars, including Iga Swiatek (Women’s World No. 1), Elena Rybakina (Women’s World No. 5), Daniil Medvedev (Men’s World No. 5), Andrey Rublev (Men’s World No. 7), and Taylor Fritz (Men’s World No. 6), is set to ignite the courts with unparalleled excitement and competitive spirit.

The partnership with XRT marks a significant milestone for both the WTL and the brand. This collaboration will hope to allow the players to perform at their highest level while looking their best, both on and off the court.

“We are delighted to join forces with the WTL, a league that shares our commitment to excellence and innovation. With this partnership, we hope to elevate the performance standards for the players, and also enhance the overall experience for the fans, who can look forward to exclusive XRT merchandise and activations throughout the event,” said Bilal Valli from XRT.

The World Tennis League Season 3 promises to be bigger and more thrilling, with a blend of top-tier tennis action and world-class entertainment. The addition of XRT as a partner enhances the league’s prestige, setting a new benchmark for sports events worldwide. Concert ticket holders can enhance their WTL experience by securing a discounted add-on Tennis ticket for the day’s matches. Tickets are available at etihadarena.ae

Continue Reading

Popular

© Copyright 2024 HEADLINE. All rights reserved

Exit mobile version
https://headline.ae/