Abu Dhabi, UAE: Aldar Properties, the UAE’s leading real estate developer, investor, and manager, has announced a strategic partnership with Carlyle (NASDAQ: CG), a global investment firm, to invest in logistics and self-storage assets in Europe. The partnership is part of Aldar’s international expansion plan, which aims to diversify its portfolio and tap into high-growth…
Category: MENA
Corporate news and announcements from the stock markets of Middle East and North Africa.
Aldar Properties announces new projects worth AED 5 billion to boost recurring income
Abu Dhabi, UAE: Aldar Properties, the leading real estate developer, manager, and investor in Abu Dhabi, has announced a development pipeline of new projects worth AED 5 billion, aimed at increasing its recurring income by 2025. The new projects include residential, retail, hospitality, and education assets across Abu Dhabi’s prime locations, such as Yas Island,…
Palms Sports acquires Learn Education and its outstanding Al Rabeeh Schools
Abu Dhabi, UAE: Palms Sports, the leading sports management company and a subsidiary of International Holding Company (IHC), has completed its acquisition of Learn Education, which owns the outstanding Al Rabeeh Schools in Abu Dhabi. This strategic move marks a significant milestone in Palms Sports’ expansion journey, as it secures its ownership of Al Rabeeh…
AD Ports Group buys 60% stake in Dubai Technologies for AED 28 million
Abu Dhabi, UAE: AD Ports Group, a leading provider of trade digitalisation solutions, has acquired a majority stake in Dubai Technologies, a developer of intelligent ports and transportation platforms. The deal will enhance AD Ports Group’s digital trade portfolio and capabilities, as well as create cost synergies and new opportunities for international expansion. Dubai Technologies’…
Solutions acquires 40% stake in Devoteam Middle East for AED 726.3 million
RIYADH: solutions, the leading provider of internet and communications services in Saudi Arabia, announced on Thursday that it has completed the acquisition of 40% of Devoteam Middle East, a regional leader in digital transformation consulting and solutions. The deal, which was approved by the General Authority for Competition (GAC) in November 2023, was valued at…
Dubai Taxi doubles its airport fleet with 350 new eco-friendly vehicles
Dubai Taxi Company (DTC) has added 350 new environmentally friendly taxis to its airport service, doubling its capacity to meet the growing demand of passengers and visitors in the emirate. The expansion is part of DTC’s strategy to enhance its operational efficiency, market share, and customer satisfaction. The airport taxi service is exclusively for arrivals…
TECOM Group reports record revenue and profit for 2023
TECOM Group, the creator of specialised business districts and vibrant communities in Dubai, reported a record revenue of AED 2.2 billion and a net profit of AED 1.1 billion for 2023, up 10% and 49% respectively from the previous year. The Group attributed its strong performance to robust demand from new and existing customers across…
ADNOC Gas signs 10-year LNG supply deal with GAIL India
ABU DHABI: ADNOC Gas, a world-class integrated gas processing company, has announced a 10-year agreement to supply 0.5 mmtpa of LNG to GAIL India, India’s leading natural gas company. The deal strengthens ADNOC Gas’ global presence, especially in the Asian LNG market, and reinforces the relationship between the UAE and India. The agreement is one…
Dubai Investments acquires 34.3% stake in Global Fertility Partners
DUBAI, UAE: Dubai Investments, the leading investment company listed on the Dubai Financial Market (DFM), has announced its acquisition of a 34.3% equity stake in Global Fertility Partners (GFP), a leading network of fertility and reproductive genetics centers across the Middle East. GFP has secured approximately $60 million in equity financing from prominent institutional investors…
Luberef signs supply deal with SAMREF for Heavy Vacuum Gas Oil
YANBU, KSA: Saudi Aramco Base Oil Company – Luberef has signed a supply agreement with Saudi Aramco Mobil Refinery Company (SAMREF) to receive at least 3000 barrels per day of Heavy Vacuum Gas Oil (HVGO), subject to product availability. The agreement, which is part of Luberef’s business transformation initiative and aligns with Saudi Aramco’s transformation…
Advanced Petrochemical notify Propylene & Polypropylene plants shutdown
RIYADH: Advanced Petrochemical Company announced that its Propylene & Polypropylene plants will undergo a periodic scheduled maintenance from 04/02/2024 to 27/02/2024 by utilizing available Propylene stock, as well as outsourced Propylene. Propylene plant will be restarted from 03/03/2024 after the replacement of catalyst.It may be worth mentioning that such shutdowns for periodic maintenance are in…
Lana Medical Co acquires Saham Environmental Services Company for 5 million riyals
RIYADH, KSA: Lana Medical Company announced the acquisition of 100% of Saham Environmental Services Company, at a value of 5 million riyals. The acquisition is in line with the company’s strategy aimed at expansion and searching for investment opportunities in the environmental sector that benefit the company and its shareholders. Lana Medical aims to acquire…