The UAE’s industrial sector has emerged as the most competitive in the Arab world, according to the latest Competitive Industrial Performance Index (CIP). The CIP is a global ranking of 152 countries by the United Nations Industrial Development Organisation (UNIDO).

The CIP ranking measures global industrial competitiveness based on the production and export of manufactured goods, technological depth and upgrading, and global impact.

The UAE’s industrial sector was also placed in the top 20% of countries in the CIP 2021, ranking 30th in the world. Across the Middle East, the UAE’s industrial sector ranked third, after Turkey and Israel.

With this, the country climbs five spots since the 2020 version of the report and nine spots since the 2017 version. 

This indicates growing competitiveness in the UAE’s industrial sector, on par with the National Strategy for Industry and Advanced Technology, Operation 300bn, Gulf News reported.

Meanwhile, Germany, China, the US, Japan, and South Korea formed the top five countries in that order in this year’s CIP.

STEEP PROGRESS IN THE UAE'S INDUSTRIAL SECTOR

The CIP 2021 report highlighted a number of factors as central to the progress of the infrastructure as well as the business ecosystem of UAE’s industrial sector. This includes the country’s adoption of advanced technology, science-based education, sustainability efforts, and attitude towards innovation

"UNIDO’s report reaffirms the UAE’s global reputation for developing an innovative industrial ecosystem underpinned by advanced technologies and Fourth Industrial Revolution solutions,” the UAE’s Minister of Industry and Advanced Technology, Dr. Sultan bin Ahmed Al Jaber said.

Al Jaber added that the progress in the UAE’s industrial sector is a result of its attractive business environment to local and international investors.

The country recently allowed 100% business ownership for foreign investors, and in March this year also launched its 10-year industrial strategy Operation 300bn. Last year also saw Dubai Industrial City complete a major expansion drive to meet growing demand in the country’s manufacturing and logistics sector. Meanwhile, companies in the country are focusing on new opportunities in the UAE’s industrial sector, such as mixed use industrial-retail investment options.

The UAE’s industrial sector performed especially well in four of the CIP’s eight indicators. These were manufacturing exports per capita, where the country moved from 31st place to the 17th, total manufacturing exports, manufacturing value-added per capita, and share of manufactured goods in the total export mix.

_{Photo credit: www.constructionweekonline.com/projects-tenders/}

 

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It’s been said that World Cup and Olympic stadiums are built to bleed, that once the games are finished, host cities are stuck with multibillion-dollar white elephants. Like the Olympic Stadium in Montreal: nicknamed ‘The Big O’ for its doughnut-shaped roof, purpose-built, it’s now called ‘The Big Owe’, ‘The Big Woe’, for what it continues to cost the taxpayer. The stadium now needs its third roof in 45 years, at a cost near USD 300 million, while it generates a modest annual revenue of USD 20 million. But its demolition would cost Quebec’s government upwards of USD 500 million. And so it stands: a white elephant.

Qatar, though, might have something: they’re building a stadium meant to be torn down, the world’s first demountable stadium. Custom-built for the 2022 FIFA World Cup, the Ras Abu Aboud Stadium will be made entirely of recycled shipping containers — 974 containers to be exact, a nod to Qatar’s calling code. And once its seven scheduled matches are played out, it’s 40,000 fans gone, the containers, the stadium seats, and even its roof will be dismantled for use elsewhere, in another event, sporting or otherwise, either inside or outside of Qatar. The legacy opportunities, we are told, are endless.

And the land occupied by the stadium will be translated into a waterfront development — for now, the stadium’s proximity to water equals more efficient cooling, another intended hallmark of Qatar’s 2022 stadiums.

FUTURE-PROOF STADIUMS?

The Ras Abu Aboud Stadium is one in eight. Several others, too, employ a similar modular design — that is, a structure constructed of independent building blocks or modules, which can later be rearranged and reused. After the 2022 World Cup a total 170,000 seats will be removed from across the eight stadiums and donated to countries in need of sporting infrastructure.

And retractable roofs and cooling technology mean what’s left of the stadiums can be used year-round, while some parts will be repurposed into community facilities, such as hospitals and schools and hotels. Other stadium precincts come stitched on with public parks.

It’s not just their post-tournament roles, though, that make Qatar’s stadiums green, it’s also the methods and materials used in their construction. 15 per cent of building supplies used in the stadiums were sourced from recycled materials. 90 per cent of the waste generated at Al Janoub and Al Rayyan stadiums from the demolition of old structures was either reused or recycled.

GREEN STADIUMS, GREE WORLD CUP

The stadiums also consume some 40 per cent lesser energy than standard design — their building envelopes are designed so, to minimise the demands on the building systems, on the cooling systems. And the stadiums use district cooling, a centralised system that translates into a 50 per cent cut in energy consumption.

Then there’s the green landscaping, so the ground will absorb significantly lesser heat than asphalt. The 2022 stadiums and surrounding precincts will add over 850,000 square-metres of new green space, equal to about 121 football pitches, which will then be irrigated with recycled water. Renewable energy solutions are also planned for wherever possible: solar-powered lighting has already been installed in the stadium parking lots. Over 70 per cent of Al Bayt Stadium’s external lighting will be powered by solar energy.

And once it’s all over, says Qatar, it will offset any emissions generated during the event by building two mega solar power plants in the years after. So, if not a carbon-neutral World Cup, then a low-carbon one at the least, with Qatar’s green stadiums front and centre.

_{Photo credit: www.goal.com/en-ae/news/sustainability-at-the-forefront-qatar-world-cup-2022-carbon/b9kyx2gzgbas1wfbzeyn58g5u , www.qatar2022.qa/en/news/qatar-on-track-to-meet-carbon-neutral-commitments-for-fifa-world-cup}

 

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The Mosque of the Late Mohamed Abdulkhaliq Gargash, also known as the Mosque of Light, is one of the first mosques to be designed in the UAE by a woman architect

Designed by Dubai-based Dabbagh Architects, which is led by Sumaya Dabbagh, the Mosque of Light features white stone facades covered in geometric forms and calligraphy. The mosque has been commissioned by the family of the late businessman Mohamed Abdulkhaliq Gargash.

The contemporary Mosque of Light is located in the south of Dubai, at the Al Quoz industrial area. The mosque is designed to be a sanctuary away from the city bustle, bringing “a sense of calm amongst the visual clutter and noise of the industrial Al Quoz district," Dabbagh told Dezeen.

"The design approach is a response to the site, the setting, local materials available and equally importantly the experience created. All of these considerations have created a contemporary design that is of its time and place,” Dabbagh also said.

THE MOSQUE OF LIGHT CAPTURES A "SENSE OF THE SACRED"

Unlike a reflection of opulence and status that religious buildings traditionally use, the mosque takes a minimal design approach, Dabbagh said.

The Mosque of Light has a clean form that eschews the traditional format of using multiple blocks within a mosque. It is divided into two blocks by a linear courtyard. The courtyard features a perforated canopy that creates a visual geometrical play of light in the courtyard.

Dabbagh said that the design of the Mosque of Light seeks to enhance the connection that devotees have with natural day and night patterns, based on the five prayer timings, through natural lighting.

Recessed triangular geometric patterns cover the stone walls of the Mosque of Light, and some also allow natural light into the building. A verse from the Quran is recessed on a band around the walls of the prayer hall. Geometric patterns also cover the mosque’s minaret.

Elements such as these, and the proportion of the main space and the use of natural light in strategic locations, are part of a “deliberate design” for the place of worship, Dabbagh said. The Mosque of Light overall aims to create "a sense of the sacred,” she added.

The dome-covered main prayer area is located in the larger block on the ground floor, while the first floor houses the women's prayer area. Ablution facilities and residences for the Imam and Moazen are located on the other side of the courtyard.

_{Photo credit: www.worldbuildingsdirectory.com/entries/the-mosque-of-light/, www.dabbagharchitects.com/portfolio_page/mosque-of-light/}

 

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Dubai Investments will be handing over AED 3.5 billion, or USD 953 million, in real estate properties in H2 this year, according to a recent statement by the company. The properties are located across Dubai and Fujairah.

The portfolio to be handed over in the second half includes over 240,000 square feet of retail space and 100 retail units, 280,000 square feet of office space, 350 hotel keys and 1,200 residential and serviced apartment units.

These included a mall, retail and office space, and a hotel as well within the AED 3 billion (USD 817 million) mixed use Mirdif Hills project by Dubai Investments. The residential cluster for the project had been handed over in 2020.

Meanwhile, another mixed use project, the Al Taif Business Centre in Fujairah, is also in progress. The AED 470 million (USD 128 million) flagship project consists of a mall, office and residential tower, and a hotel.

“With the real estate sector maintaining stability in Q1 2021, it will continue to be a key vertical for Dubai Investments. We are completing the final phases of the projects at strategic locations, offering a range of investment opportunities, aimed at furthering economic diversification and enhancing the investment environment,” Khalid Bin Kalban, vice chairperson and CEO of Dubai Investments, said.

Dubai Investments expects the two projects to attract investor monies and boost the UAE’s profile as a business destination.

DUBAI INVESTMENTS SAW PROFITS GROW 47% IN H1

The investment company saw profits grow by 47% in H1 this year, reaching AED 302 million (USD 82.2 million) as compared to AED 205 million (USD 55.8 million) for the same period last year.

Similarly, the company’s total income also grew 51%, amounting to AED 1.72 billion (USD 468 million) as compared to AED 1.14 billion (USD 310 million) in the previous period.

Dubai Investments attributed the growth to the improved performance of its manufacturing and contracting, and investment business verticals, and a surge in sales in its property segment.

The company would be focusing on “diversifying into healthcare and education, as well as focus on real estate, including the ongoing development of mixed-use communities in Mirdif Hills and Fujairah. We also continue to explore opportunities for sustainable growth across the sectors that we operate in and look forward to sharing updates on these in due course,” Al Kalban said about the H1 results.

_{Photo credit: https://www.arabnews.com/node/1431916/corporate-news,} 

 

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Abu Dhabi-based conglomerate International Holding Co. (IHC) is looking to make acquisitions for a few billion dollars, Reuters reported. The company is considering several sectors including real estate, the report said.

"All the sectors across the nine verticals we are operating (in), we are looking for an acquisition," CEO Syed Basar Shueb said. "There are a few billion dollars of acquisitions we are looking at.”

The company’s business verticals include capital, ICT, real estate and construction, and food, beverage and distribution. They also involve agriculture, industries, utilities, healthcare, and leisure and retail.

IHC is also looking at potential acquisitions in Turkey’s healthcare, industrial and food processing sectors, amongst others. The company is reportedly looking for mid-size deals and minority stakes in several sectors.

REAL ESTATE IS PART OF ACQUISITION PLANS AT IHC

Amongst its potential acquisitions in the UAE is a second-tier Abu Dhabi property developer, which would join Aldar Properties in IHC’s portfolio. The conglomerate has a minority stake in Aldar. Shueb did not disclose any targets or estimated valuations of the deal.

The company is also looking at three or four possible deals in the food sector, apart from healthcare, and leisure and retail as well, the report said. Bank loans will fund deals for the first time, while the company has plans to issue debut bonds from next year on.

IHC is the most valuable company to be listed on the Abu Dhabi Securities Exchange, with a market cap of USD 72 billion. In June this year, it pulled ahead of Emirati telecom giant Etisalat to become the most valuable company on the bourse. The company has reported a surge in earnings over the past year and a half. As of Tuesday this week, IHC’s shares closed at AED 147 per share. 

The company is considering taking its majority-owned healthcare firm Pure Health public in 2022, the report said.

Meanwhile, IHC has plans to list six of its companies this year as well in the Abu Dhabi bourse. The company has no plans to pay dividends, and aims to grow IHC's operations and investment to increase share prices, Shueb told Reuters. The goal is to “acquire, restructure, consolidate in our businesses, with diversification and then divestment," he said.

IHC is majority owned by Royal Group, which is chaired by the UAE’s national security adviser Sheikh Tahnoun bin Zayed Al Nahyan. Al Nahyan also acts as the chairperson of the company.

 

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Saudi Arabia’s national development agenda Vision 2030 has resulted in real estate and infrastructure projects worth nearly USD 1 trillion, according to Knight Frank. Of these, infrastructure spending accounts for about USD 300 billion, with projects including new passenger rail networks and a USD 147 billion new airport at Riyadh.

Inquiries for development consultancy and management services have seen significant growth over the last 6 to 12 months, Harmen de Jong, Partner – Real Estate Strategy and Consulting, Knight Frank, said.

“The private sector has also now got much more clarity around how the plans for Vision 2030 are to be rolled out, as momentum builds around delivering the new vision for Saudi Arabia.  As a result, we have seen heightened activity in real estate development concepts involving hospitality, retail and entertainment,” de Jong continued. 

“This trend is being further supported by the ease of access to cheap credit provided by government-backed finance agencies such as the Tourism Development Fund,” he also said.

PROJECTS REPRESENT JUST THIRD OF TOTAL PLANNED SPENDS UNDER VISION 2030

The projects represent just a third of the total planned spends, Faisal Durrani, Partner – Head of Middle East Research at Knight Frank, said in the statement.

He further said that initial projects are already in use, such as a new cruise terminal at Jeddah Islamic Port, where the first cruise routes have commenced operations. This, along with other projects in the cruise industry, is expected to create 50,000 jobs in Saudi Arabia, and result in 1.5 million annual cruise visitors by 2028, the statement said.

Elsewhere, real estate will also see growth under Vision 2030, with eight new planned cities in Saudi Arabia. Many of these are located at its western seaboard along the Red Sea coast. With spending of about USD 575 billion, the new cities are expected to result in over 1.3 million new homes, 3 million square metres of offices, and 100,000 hotel keys.

These cities, including the zero-carbon planned mega city NEOM, and entertainment hub Qiddiya, are also expected to have an impact on Saudi Arabia’s tourism, hospitality, construction and energy sectors.

In Riyadh alone, over 100,000 new homes are expected to be delivered by the end of 2023. Further, around 3 million square metres of new office space and over 12,000 hotel rooms are under development, across mega projects in the city, worth about USD 63 billion.

Durrani noted that the rapid development of such sizeable projects comes with challenges, including a regulatory regime for the sale and lease of property asset classes that can attract global blue-chip institutional investors.

“The aggressive targets laid out by the government around attracting 100 million annual visitors to the country by 2030 means both adequate and first-class gateways need to be created,” Durrani added.

_{Photo credit: www.metenders.com/project_cms/project/king-khalid-international-airport-expansion-project, https://qiddiya.com/}

 

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