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Sheikh Hamdan launches landmark Dubai Reef sustainability project

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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.

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DWC expansion remains on track; first phase set to complete in 2032

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Work on the expansion of Al Maktoum International Airport is progressing on schedule, with Phase 1 expected to commence operations in 2032, His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister, Minister of Defence, and Chairman of The Executive Council of Dubai, , has announced.

In a post on social media platform X, Sheikh Hamdan said the project has recorded more than 10 million work hours over the past 15 months, reflecting steady progress across key construction phases.

He noted that contracts worth AED 13 billion are currently under execution, while additional contracts valued at AED 55 billion are expected to be awarded in the coming months as part of the expansion programme.

Once completed, the airport is designed to handle more than 250 million passengers annually, reinforcing Dubai’s long-term strategy to strengthen aviation capacity and support economic growth.

“Under the visionary leadership of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Dubai’s major projects continue to advance with steady progress and confidence,” Sheikh Hamdan added.

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Free Public Parking Announced In Dubai For Hijri New Year

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Dubai’s Road and Transport Authority (RTA) has announced free public parking and a revised public transport schedule for the Hijri New Year 1448 holiday on Monday June 15.

Public parking across Dubai, except for multi-storey parking facilities will be free with parking fees will resume on Tuesday June 16.

All RTA Customer Happiness Centres will be closed on Monday, but customers will still be able to access services through the Customer Happiness Centre in Umm Ramool and Smart Kiosks located in Deira, Al Barsha, Al Tawar, Al Kifaf and the RTA Headquarters.

Dubai Metro services on both the Red and Green Lines will run from 5am until midnight on Monday while Dubai Tram services will operate from 6am until 1am the following day.

Passengers using public buses are advised to check the S’hail app for updated holiday schedules.

The RTA also announced that Bus Route E100, which normally operates between Al Ghubaiba Bus Station and Abu Dhabi, will be suspended from June 13 to 15. Passengers heading to Abu Dhabi during this period can use Route E101 from Ibn Battuta Bus Station instead.

Marine transport services will be unaffected during this period.

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Elon Musk Becomes world’s First Trillionaire Following SpaceX’s historic Listing

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Shares in Elon Musk’s aerospace and technology company SpaceX have surged on their trading debut in New York, in what is being described as the largest initial public offering in history.

The stock climbed as much as 30% in early trading on the Nasdaq, pushing the company’s valuation above $2 trillion and briefly placing it among the most valuable firms in the United States.

The listing, which raised more than $75bn, marks a dramatic milestone for the firm founded in 2002 by Elon Musk, who has become one of the most influential—and divisive—figures in global technology.

Speaking at a launch event in Texas, Mr Musk said the company’s ambitions extended far beyond Earth. “SpaceX wants to be able to take you to the Moon, take you to Mars, and ultimately beyond,” he said, adding that its teams would “make that happen” for customers.

The billionaire entrepreneur—Elon Musk—has reportedly become the world’s first trillionaire following the surge, according to market estimates cited in the offering’s early trading performance.

The IPO priced more than 555 million shares at $135 each, valuing the company at just under $1.8 trillion ahead of its market debut. Within hours of trading, prices peaked at around $175 per share.

The listing also allows for the potential sale of an additional 83 million shares, which could lift total proceeds beyond $86bn.

Investor demand was reported to be heavily oversubscribed, reflecting strong interest in both space exploration and the company’s expanding role in satellite communications and artificial intelligence.

SpaceX has increasingly evolved from a rocket launch provider into a broader technology conglomerate, incorporating satellite operations and artificial intelligence assets linked to Mr Musk’s wider business portfolio.

Market analysts say the listing is being closely watched as a potential benchmark for other high-profile technology firms, including artificial intelligence companies expected to pursue public offerings in the coming months.

The debut also comes against the backdrop of Mr Musk’s increasingly polarising public profile, shaped by his political commentary, business decisions, and ownership of social media platform X.

Despite the controversy, investor appetite for the company appears undiminished, with strong early demand signalling continued enthusiasm for Musk-led ventures.

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