KUWAIT, 28th April, 2024 (WAM) – Abdullah Hamad Abdullah Al-Jouaan, Minister of Commerce and Industry in Kuwait and Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, have affirmed the depth of strategic relations between the UAE and Kuwait, emphasising the importance of developing joint cooperation and integrated relations to ensure thriving and comprehensive economic development for both countries.

Speaking to the Emirates News Agency (WAM) on the sidelines of the first day of the UAE Companies Investment Meet, organised by the UAE Embassy in Kuwait, Al-Jouaan affirmed the growth in trade exchange between the two nations, citing the fact that non-oil foreign trade reached US$12.2 billion during 2023, up 2% from $10.5 billion in 2019.

He pointed out the two countries’ efforts to enhance cooperation and integration in all fields in a way that contributes to strengthening trade and investment relations between the two sides.

The minister stated that the trade growth achieved during the past years confirms the strength of bilateral trade relations, highlighting the leading role played by the private sector in strengthening trade relations, describing the private sector as a fundamental pillar for the growth and development of the businesses and economies of both countries.

For his part, Al Zeyoudi told WAM that the forum is a significant opportunity to continue the momentum of growth in trade and investment relations between the two countries.

He referred to the completion of discussions on a number of tenders and investment opportunities for UAE companies to enter the Kuwaiti market, explaining that the volume of UAE investments in Kuwait amounted to more than AED3.3 billion by the end of 2022, while Kuwaiti investments in the UAE hit AED13.2 billion by the end of 2021.

“UAE maintains its position as the world’s leading recipient of Kuwait’s non-oil exports, capturing 22% of Kuwait’s total global non-oil exports. Simultaneously, the UAE ranks as the third most significant import market for Kuwait, following China and the United States,” Al Zeyoudi explained.

He concluded by saying that the UAE Companies Meet contributes to creating qualitative opportunities for increasing exports from both countries and expanding investments.

DUBAI, 29th April, 2024 (WAM) — Dubai is set to host the ACRES Real Estate Exhibition from 16th to 19th May at the Dubai World Trade Centre.

Launched in strategic partnership with the Sharjah Chamber of Commerce and Industry (SCCI) and Sharjah Real Estate Registration Department (SRERD) and sponsored by the Department of Land and Real Estate Regulation in Ajman, ACRES stands out as an exceptional event in the real estate landscape. It serves as an ideal platform supporting the development and investment endeavours of real estate companies within and beyond the UAE.

The exhibition provides property developers and investors with an opportunity to showcase and promote their projects not only domestically but also internationally. It aligns with the growth and revitalisation underway in Dubai and throughout the UAE, while also highlighting the supportive government policies and initiatives driving increased investment.

ACRES brings together key players and professionals from the real estate sector, including top-tier developers, investors, brokers, project management firms, financial institutions, technology providers, building material suppliers, and contracting companies.

Saeed Ghanem Al Suwaidi, Chairman of the Organising Committee of ACRES Dubai, underscored the committee’s mission to showcase significant real estate opportunities in the UAE on a global stage, allowing investment and development firms to unveil their latest projects. He also highlighted the varied investment opportunities amidst the ongoing growth and success in the UAE’s real estate market.

Thanks to its strategic location, stable economy, advanced infrastructure, and investor-friendly environment, Dubai remains a premier destination for both local and international real estate investors.

Organised by Leader Events Management, the event aims to stimulate growth in the real estate sector and contribute to comprehensive and sustainable development in Dubai and the UAE.

ACRES Dubai aims to gain further momentum in the UAE’s real estate markets, which have witnessed significant leaps, with real estate transactions totalling approximately AED765.1 billion nationwide by the end of 2023.

ACRES Dubai 2024 offers a robust programme of training sessions, workshops, seminars, and panel discussions, available free of charge in Arabic and English languages.

These sessions cover various topics, including the latest property developments, innovations, and cutting-edge real estate technologies that captivate visitors, professionals, and enthusiasts alike.

The exhibition will be open to visitors from 10 am to 8 pm daily, except on Friday, when it will welcome visitors from 3 pm to 9 pm.

DUBAI, 25th April, 2024 (WAM) — DP World Foundation has expended over AED19 million on charity projects during the holy month of Ramadan this year in 10 countries. This was announced at the Dubai International Humanitarian Aid and Development (DIHAD) Exhibition, held under the auspices of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister, and Ruler of Dubai.

The philanthropic arm of DP World reported that the campaign’s outcomes were warmly received by beneficiaries in the UAE and nine other countries in Africa and Asia. Nasser Abdulla Al Neyadi, Vice Chairman of the Board of Directors of DP World Foundation said: “We are planning more campaigns to bolster DP World Foundation’s presence and amplify its charitable impact in the upcoming year”.

Al Neyadi elaborated that a total of AED9.22 million (US$2.51 million) had been allocated for projects in the 10 countries. The largest contribution, totaling AED10 million (US$2.72 million), was allocated to the “Mother’s Endowment” campaign launched by the Mohammed bin Rashid Al Maktoum Global Initiatives. This initiative aims to honor mothers by establishing an AED1 billion endowment fund to support the education of millions worldwide.

Locally in the UAE, DP World Foundation collaborated with partners such as Al Ihsan Charity Association and the Dubai Charity Association to launch the Ramadan Amaan 10 campaign, distributing 500,000 Iftar boxes across the UAE with the help of 18,000 volunteers.

In 2023, DPWF gave an AED10 million contribution to the “1 Billion Meals Endowment” campaign launched by His Highness Sheikh Mohammed, to establish the largest Ramadan sustainable food aid endowment fund, in addition to contributing to other charity projects.

DIHAD 2024 convened key decision-makers from leading NGOs, UN agencies, charity organisations, government bodies, and private sector providers to address the needs of people and countries affected by crises, disasters, and natural calamities. Al Neyadi expressed satisfaction with the significant progress made since the foundation’s inception in April 2022. He underlined DPWF’s focus on supporting health, education, and food-related causes at local, regional, and international levels, in alignment with the UAE’s Fifty-Year Charter for sustainable growth in humanitarian work.

DP World Foundation’s Director General, Latifa AlQemzi, revealed plans for expanding its reach and impact in the upcoming years. She cited the positive outcomes of previous campaigns as motivating factors for this decision.

AlQemzi added: “We are currently planning an exciting array of international and local initiatives and campaigns for 2025, aiming to encapsulate the true essence of Ramadan and promote community spirit, generosity, and giving.” AlQemzi presented at DIHAD 2024’s Humanitarian Diplomacy and Climate Change session, introducing the DPWF’s impactful work and mission.

DP World Foundation remains committed to promoting social responsibility and providing support to those in need, regardless of nationality, race, or religion. Its upcoming initiatives will address various social issues such as poverty, hunger, and education through collaborations with local and international partners.

DUBAI, 25th April, 2024 (WAM) — 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 H.H. 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, Prime Minister 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 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.
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.”
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.