September 2, 2022

Aldar fully acquires Spark Security for AED125 million

ABU DHABI, Aldar Properties today announced that it is scaling up its property and integrated facilities management platform through the full acquisition of Spark Security Services, a leading UAE-based manned guarding security services provider. The all-cash AED125 million transaction further strengthens Aldar’s property and integrated facilities management platform to deliver a broader offering to customers, ranging from sales, leasing, property management, consultancy services, valuation advisory, hard and soft real estate maintenance, and energy management. Together, these services will add significant value to Aldar’s AED23 billion (US$6.3 billion) portfolio of prime property across retail, residential, commercial, and logistics segments, in addition to an expanding roster of notable third-party clients across the region. Established in 1974, Spark Security employees over 5,000 security professionals serving major organisations operating in a wide range of sectors, including infrastructure, banking, healthcare and hospitality. Commenting on the transaction, Jassem Saleh Busaibe, Chief Executive Officer at Aldar Investment,

Emirates launches Humanitarian Airbridge to Pakistan, offers free cargo capacity for flood-relief aid

Dubai, UAE, Emirates SkyCargo sets up an airbridge between Dubai and Pakistan to offer cargo capacity free of charge on flights to transport relief aid to people grappling with the damage caused by the devastating floods.   From today, cargo capacity on all Emirates’ passenger flights to Pakistan will be available to organisations based at the world’s largest humanitarian hub, International Humanitarian City (IHC), to transport critical equipment and supplies, food and other emergency relief goods directly to the five airports – Karachi, Islamabad, Lahore, Peshawar, and Sialkot.   HH Sheikh Ahmed bin Saeed Al Maktoum, Emirates Group Chairman and Chief Executive said: “Emirates is deeply connected and committed to Pakistan. From our very first flight in 1985 to Karachi until today, we’ve steadily grown the mutually beneficial air links that facilitate business, tourism and trade between the UAE and Pakistan. HH Sheikh Mohammad bin Zayed al Nahyan, President of

du announces exclusive offer for UAE teachers

DUBAI, du, from Emirates Integrated Telecommunications Company (EITC), has announced an exclusive offer to honour and empower UAE teachers to communicate and educate in their respective institutions. Designed specifically to meet their professional and personal requirements, the plan will offer teachers value for money, flexibility to educate out of class and connectivity in remote areas. du’s Educator’s Offer delivers benefits, including open data on whitelisted educational websites and national, international minutes. du’s exclusive plans are designed for educators with benefits that are tailored to meet all their day-to-day communication needs. All UAE teaching professionals can avail the benefits of Educator’s Offer when subscribing to Business and Government plans through du website or retail stores.   Source: Emirates News Agency

Dubai’s weeklong real estate transactions total AED7.4 billion

DUBAI, Dubai’s real estate and properties transactions were valued at AED7.4 billion in total during the week ending 2nd September 2022, with sum transactions of 2,593, according to statistics from the Dubai Land Department. The statistics showed that 320 plots were sold for AED1.75 billion, and 1,720 apartments and villas were sold for AED3.55 billion. The top three transactions were land in Saih Shuaib 3 sold for AED168 million, land sold for AED115 million in Island 2, and land sold for AED78 million Saih Shuaib 4. Al Hebiah Fifth recorded the highest number of transactions this week with 107 sales transactions worth AED329.68 million, followed by Jabal Ali First with 60 sales transactions worth AED193.85 million, and Nad Al Shiba First with 41 sales transactions worth AED205 million in third place. The top three transfers for apartments and villas were an apartment sold for AED776 million in Marsa Dubai, a

OPEC daily basket price stands at $98.27 a barrel Thursday

VIENNA, The price of the OPEC basket of thirteen crudes stood at US$98.27 a barrel on Thursday, compared with US$101.04 the previous day, according to OPEC Secretariat calculations. The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Zafiro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Iran), Basrah Medium (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela).   Source: Emirates News Agency