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Dubal Holding posts record Dh2.7b profits

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Dubal Holding (DH) is on an upswing and it has posted record high financial results for FY2021.

The company’s net profit went up to $735 million (Dh2.7 billion) compared to $59 million (Dh217 million) for the prior year.

The 1,145 per cent year-on-year growth in net profit is a huge achievement. It happened due to a combination of good operational performance, as well as record profits made by DUBAL Holding’s 50 per cent subsidiary, Emirates Global Aluminium (EGA), due to soaring global prices of aluminium in 2021, the firm pointed out.

Dubal Holding is the investment arm of Dubai Government in the commodities and mining, power, energy, and industrial sectors.

The company’s results were revealed during its annual general meeting held at the Dubai Electricity and Water Authority (Dewa). The meeting was presided over by Saeed Mohammed Al Tayer, the chairman of Dubal Holding.
He said: “We strive to achieve the directives of our wise leadership to strengthen the UAE and Dubai’s position in the global economy. Our wise leadership, with its vision that shapes the future, made an early investment in the aluminium industry.

“Today, this sector witnesses a strong demand and is powering new emerging industries, and assuming a bigger role in sustainable development. This strategic direction contributes to enhancing the competitiveness of the UAE in the global aluminum markets of the future.”

Vice chairman of Dubal Holding Abdulla Jassem Kalban said: “DUBAL Holding continues to play its vital twofold role by investing in high-yield, long-term projects that serve the national economy, on the one hand, and contribute to the UAE’s sustainability goals.”

Dubal Holding has been entrusted with overseeing a number of projects. One among them is the implementation of the Dubai Waste Management Centre at Warsan – one of the world’s largest waste-to-energy (WtE) plants – which will treat approximately 1.9 million tonnes of solid municipal waste per year and bring electricity to over 100,000 households.

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Sharjah real estate boom: Dh25 billion waterfront project set to transform city

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Sharjah’s property market is witnessing a major transformation with the launch of the massive Ajmal Makan City – Sharjah Waterfront project in Al Hamriyah. The Dh25 billion coastal development spans over 60 million square feet, offering a mix of residential, commercial, and tourism attractions.

According to Sultan Al Shakrah, CEO of Ajmal Makan Real Estate Development, the project will house more than 60,000 residents across eight islands, blending modern urban living with eco-friendly designs. He emphasized that the development will significantly boost Sharjah’s real estate sector, generating thousands of jobs across industries like infrastructure, retail, hospitality, healthcare, and education.

A Hotspot for Investors

This freehold mega-project has already attracted strong interest from local and international investors, playing a crucial role in Sharjah’s economic diversification. As part of its expansion, Ajmal Makan Real Estate Development has launched three new projects:

  • Al Thuraya Island
  • The View Island
  • Blue Beach Residence

Meanwhile, Sun Island’s first two phases have been completed, and the Blue Bay Walk project—developed in three phases — has seen its first phase finished, with the remaining two ahead of schedule.

A City Within a City

Ajmal Makan City isn’t just a real estate project; it’s a fully integrated urban destination. It will feature:

  • 1,500 luxury villas and mid-rise buildings
  • Hotels, retail spaces, and entertainment hubs
  • A university and several schools
  • A massive theme park
  • A 3-million-square-foot shopping mall
  • A marina with 800 yacht berths
  • Waterfront restaurants, cafes, and leisure spots

In addition, 60% of the project is dedicated to green spaces, beaches, and public areas, aligning with Sharjah’s sustainability vision.

With its stunning waterfront setting, modern infrastructure, and eco-friendly design, Ajmal Makan City – Sharjah Waterfront is set to become one of the region’s most sought-after destinations for residents, tourists, and investors alike.

(Source: Wam)

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Dubai opens doors for free zone businesses to expand into mainland

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Dubai has introduced a new rule allowing Free Zone businesses to operate in mainland Dubai, making it easier for companies to grow and expand. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, issued Executive Council Resolution No. (11) of 2025 to regulate Free Zone businesses working outside their zones.

This decision is part of the Dubai Economic Agenda (D33), which aims to double the city’s economy by 2033 and establish Dubai as one of the world’s top three economic cities.

What This Means for Businesses

Under the new rule, any business licensed in a Free Zone can now operate in mainland Dubai, but they must get the proper licences or permits from the Dubai Department of Economy and Tourism (DET). This move is designed to:

  • Boost investment and job creation
  • Help Free Zone businesses expand easily
  • Attract more global businesses to Dubai
  • Strengthen Dubai’s position as a business hub

How Businesses Can Apply

Free Zone companies can now apply for:

  • A branch licence in mainland Dubai
  • A branch license with headquarters in a Free Zone
  • A permit for specific activities

These licences are valid for one year and can be renewed. The DET will also issue a list of economic activities Free Zone businesses can engage in within six months.

Rules & Compliance

To operate in mainland Dubai, businesses must:

  • Follow all local and federal laws
  • Keep separate financial records for mainland and Free Zone operations
  • Get additional approvals if expanding outside Dubai

The DET will also conduct regular inspections to ensure businesses follow the rules. Companies already working outside Free Zones have one year to comply, with a possible one-year extension.

Why This Matters

This game-changing move makes it easier for businesses to grow in Dubai, attracting more investors and entrepreneurs. It also reinforces Dubai’s commitment to innovation, economic growth, and making business easier.

(Source: Wam)

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Dubai eases housing rules to boost family well-being

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Dubai has launched a new initiative called ‘Home First’ to improve housing for Emirati families. This is part of the ‘Year of Community’, announced by President Sheikh Mohamed bin Zayed Al Nahyan.

The initiative aims to strengthen family ties, improve quality of life, and make housing more flexible for Emiratis. It also supports the Sheikha Hind bint Maktoum Family Programme, which promotes family values and sustainable living.

Key Changes in Housing Rules:

  • More Flexible Home Designs – Families can now customise their homes to better suit their needs.
  • Side Family Annex Before Main Villa – Homeowners can build additional spaces like bedrooms, living rooms, and kitchens before completing the main villa.
  • Extra Villa for Sons – A separate villa can be built within the family property to maintain privacy while keeping families close.
  • Bigger Homes – Families can fully extend their villas on the second floor.
    Relaxed Setback Rules – Minimum space between villas has been reduced to 1.5 metres, allowing more efficient use of land.
  • Higher Service Annexes – Annex buildings can now be up to 8 metres high (two floors).
    Townhouse Upgrades – Townhouses can now be built next to each other across two plots.

Why This Matters

Marwan Ahmed bin Ghalita, Acting Director-General of Dubai Municipality, says this plan will make Dubai a better place to live, as part of the Dubai Social Agenda 33. The goal is to boost family well-being, provide better housing, and create strong communities.

Emirati citizens can learn more about ‘Home First’ by visiting Dubai Municipality’s website or calling 800900.

Dubai Municipality continues to improve building rules and support sustainable urban development, making sure Dubai remains a top city for quality living.

(Source: Wam)

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