Industry in United Arab Emirates

  • Damac awards $953m worth of contracts so far in 2017

    CHINA, 2017/09/08 Luxury real estate developer Damac Properties has revealed it awarded over 370 contracts worth $953 million (AED3.5b) since January 2017 for construction, supplier and consultancy services across 20 of its projects. Additional than 50 % of contracts awarded, $490m, has gone towards the firm’s major master golf community, Akoya Oxygen, with major construction ongoing across the 55-million square foot development.

  • Abu Dhabi targets major increase in petrochemical output

    UNITED ARAB EMIRATES, 2017/04/16 The national-owned Abu Dhabi National Oil Company (ADNOC) announced plans in November to additional than double petrochemical production over the next decade as part of its 2030 strategy. Released alongside the company’s five-year plan and operational budget, all three initiatives aim to strengthen ADNOC’s presence in the energy sector and enhance its competitiveness. With high request expected in the coming years, the petrochemical industry presents a strong investment case, and its expansion is being pursued as a critical element of Abu Dhabi’s ongoing economic diversification strategy.

  • Banking With Cultural Protection Emirates NBD, a custodian of UAE’s pearl diving heritage

    UNITED ARAB EMIRATES, 2015/12/14 Created by one of the majority prominent philanthropists in the history of the UAE, the Emirates NBD Pearl Museum houses one of the major and finest collections of pearls in the world, and was gifted to the country as a reminder of its culture and heritage. In 1963, the late Sultan Al Owais founded the National Bank of Dubai. Emirates NBD was formed in 2007 next the merger between Emirates Bank International (EBI) and the National Bank of Dubai (NBD), which combined the second and fourth major banks in the United Arab Emirates (UAE). Today, it is one of the major banks in the region – as of September 30, 2015, total assets were AED 390.4 billion (equivalent to approx. US$106 billion) – and the group has a leading retail banking franchise in the UAE, with additional than 219 branches and over 916 ATMs and CDMs in the UAE and overseas. Furthermore, it is a major player in the UAE corporate and retail banking arena and has strong Islamic banking, world markets and treasury, investment banking, private banking, investment management, and brokerage operations.

  • UAE Establishes Giant Aluminum Company At $15B

    UNITED ARAB EMIRATES, 2013/06/07
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