Announcements

Sheikh Hamdan launches landmark Dubai Reef sustainability project

Published

2 years ago

April 26, 2024

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His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of The Executive Council of Dubai, has inaugurated the landmark Dubai Reef project with the launch of the pilot reef modules.

A sustainable initiative by Dubai Can, Dubai Reef is the world’s largest marine reef development project and marks a pioneering step in Dubai’s efforts to promote ecological sustainability. Working around a plan to deploy 20,000 purpose-built reef modules of various sizes over a four-year period, Dubai Reef marks a significant endeavour for the city that will span a staggering 600 square kilometres across Dubai’s waters. The meticulously crafted design of the reef units will see them exceed 400,000 cubic metres in volume.

In line with the directives of His Highness Sheikh Hamdan and The Executive Council of Dubai, the Dubai Reef project is a city-wide collaboration uniting key partners to support the wider strategic goals and ambitions of Dubai and the UAE, including the Dubai Economic Agenda (D33), the UAE’s Green Agenda – 2030, and the UAE Net Zero 2050 strategy.

Sheikh Hamdan said: “The landmark Dubai Reef initiative is a testament to the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai. Reef ecosystems are unique life sources and vital components in the protection of marine life. Dubai Can’s Dubai Reef project will inject vitality into our coastal waters and contribute to global conservation efforts. The project’s significant long-term environmental and socio-economic impacts will serve Dubai’s commitment to ensuring a sustainable future for generations to come.”

With an initial proof of concept championed by His Excellency Ahmed Mohammed bin Thani and contractors HaejooX in 2021, the first modules have now been activated as part of the Dubai Reef pilot project. Working alongside the Dubai Department of Economy and Tourism (DET), the newly formed Dubai Environment and Climate Change Authority (DECCA) will be a critical partner in ensuring successful project delivery. As Director General of DECCA, His Excellency Bin Thani will continue to play a key role in supporting the Dubai Reef project and further strengthen the emirate’s advocacy in the realm of environmental protection and climate action. DP World; Dubai Chambers; Nakheel; the Ports, Customs and Free Zone Corporation; and Emirates join DET as strategic partners in the Dubai Reef project.

His Excellency, Helal Saeed Almarri, Director General of DET, said: “Aligned with the visionary leadership of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, and guided by the directives of His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of The Executive Council of Dubai, the Dubai Reef project showcases the emirate’s enduring commitment to sustainability and environmental conservation. This collaboration between public and private sector entities will see each partner bring their expertise to drive Dubai’s sustainable future and contribute towards achieving the ambitious goals set forth in the D33 Agenda.”

His Excellency Ahmed Mohammed bin Thani, Director General of DECCA, said: “The Dubai Reef project will provide diverse environments to attract and stimulate fish and marine life. In 2021, we partnered with leading reef developer HaejooX to launch a two-year proof of concept, analysing the effectiveness of purpose-built reefs in Dubai. The study used advanced technologies and utilised a three-dimensional scanning system to understand the quantities and types of fish present. Preliminary data showed an abundant expansion in marine life.”

The Dubai Reef initiative is a strategic investment set to leave a lasting legacy in terms of protecting marine life and environmental sustainability. The project’s key drivers include enhancing biodiversity, safeguarding Dubai’s coastal and marine habitats, supporting fish populations, and increasing ecosystem resilience. The project will also encourage environmental stewardship, strengthen socio-economic prosperity and ecotourism, and preserve Dubai’s marine heritage.

The project has won over renowned investor Ray Dalio who is involved in various philanthropic initiatives and takes a keen interest in ocean exploration and conservation. “I love this audacious Dubai Reef project because it will be a remarkable contribution to the world’s understanding of the benefits of ocean restoration and as well make the Dubai environment healthier and provide an incredible recreation park. Once again, Dubai is pursuing an ambitiously great project, this time under the visionary guidance of His Highness Sheikh Hamdan. It is an amazing project in an amazing place under amazing leadership,” he said.

Related Topics:#Dubainews #featured #newproject #sheikhhamdan #sustainability reefproject

Staff Reporter

Announcements

Dubai unveils mega Dubai Food District, set to become one of the world’s largest food trade hubs

Published

1 day ago

January 22, 2026

Michael Gomes

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DP World has officially unveiled Dubai Food District, a bold transformation of the Al Aweer Central Fruit and Vegetable Market into one of the largest and most advanced food trade hubs in the world.

Rolling out in phases from 2027, the mega district will more than double the current market’s footprint to 29 million sq ft, bringing trade, storage, processing and distribution together under one roof. Think cold-chain logistics, smart warehousing, food processing, digital solutions, cash-and-carry zones and even a gourmet food hall.

Announced last year by His Highness Sheikh Mohammed bin Rashid, Vice President and Prime Minister of the UAE and Ruler of Dubai, the project expands beyond fruits and vegetables to include dairy, staples, gourmet and specialty foods, positioning Dubai as a global gateway for food trade and food security.

Built on Al Aweer’s strong legacy, serving over 2,500 traders since 2004, the district aims to boost efficiency, cut supply chain risks and help food businesses reach markets faster and smarter. With multimodal connectivity to more than 20 global markets, DP World is betting big on Dubai’s role at the heart of the future food economy.

Announcements

Indian real estate group BCD Global enters Middle East, sets up Dubai headquarters

Published

2 weeks ago

January 8, 2026

Michael Gomes

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BCD Global, the international expansion platform of Indian-founded real estate developer BCD Group, has entered the Middle East, naming Dubai as its regional headquarters as it pursues its next phase of global growth.

The move marks the first Middle East expansion for the 70-year-old group, which has delivered more than 155 million square feet of real estate across over 300 residential, mixed-use and large-scale developments in seven countries.

BCD Global said it chose Dubai due to the emirate’s economic stability, access to global capital, regulatory clarity and long-term urban planning framework.

“Dubai represents the convergence of global capital, governance and long-term urban vision,” Amit Puri, CEO of BCD Global, said in a statement.

Founded in India in 1952, BCD Group has developed projects across infrastructure-led asset classes, including healthcare, senior living, hospitality, co-living and urban infrastructure. BCD Global will spearhead the group’s international expansion from the UAE, with a focus on institutional governance and long-term asset creation.

The expansion follows a strategic restructuring under chairman Angad Singh Bedi, who has overseen the group’s transition to a zero-debt, vertically integrated operating model.

“The Middle East is one of the defining growth corridors of the next decade, and Dubai stands at its centre,” Bedi said, adding that the group’s entry into the region was intended as a long-term expansion rather than a short-term market play.

BCD Global’s entry comes as the UAE’s real estate sector continues to benefit from population growth, infrastructure investment and sustained inflows of international capital. The UAE’s population is projected to reach around 11 million by 2030, supporting demand for large-scale, institutional-quality developments.

From Dubai, BCD Global will oversee its Middle East and Africa operations, with the wider Gulf region, including Saudi Arabia, identified as a key growth market over time.

Announcements

UAE to crack down on businesses not complying with electronic invoicing rules

Published

2 months ago

December 8, 2025

Michael Gomes

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The UAE Ministry of Finance has introduced a Cabinet Resolution imposing administrative fines on businesses that fail to comply with the country’s Electronic Invoicing System (EIS), reinforcing the nation’s drive for digital transformation and stronger tax compliance.

The rules apply to all entities required to adopt EIS under Ministerial Decision No. (243) of 2025. Companies using the system voluntarily are exempt from penalties until compliance becomes mandatory.

Fines include:

Dh5,000 per month for failing to implement EIS or appoint an approved service provider on time.
Dh100 per electronic invoice not issued or sent on time, capped at Dh5,000 per month.
Dh100 per electronic credit note not issued or sent on time, capped at Dh5,000 per month.
Dh1,000 per day for not notifying the Federal Tax Authority of system malfunctions.
Dh1,000 per day for delays in updating approved service providers on registered data changes.

Officials stressed that the resolution underlines the UAE government’s commitment to international best practices and the development of a fully integrated digital economy.