Danube Properties has announced that it has handed over its Gemz residential project five months ahead of schedule. The US $95.2mn project was launched in June 2022 and Danube says that early handovers have become a tradition for its projects.

On 14 November, a ceremony was held in Al Furjan at Gemz by Danube to start the handover of keys to homeowners. The ceremony was attended by Mohamed Al-Bidwawi, CEO of RERA on behalf of His Excellency Eng. Marwan bin Ghalita, Director General of Dubai Land Department, as well as senior leaders of Danube Group, in addition to industry executives and residents.

“Danube Properties is proud to be a pioneer in a number of initiatives in the Dubai real estate market such as a 1% payment plan, 40-plus amenities and the highest capital appreciation and rental incomes to buyers. We have also set the trend of delivering projects ahead of schedule, a remarkable feat that other industry players also want to emulate,” said Rizwan Sajan, Founder and Chairman of Danube Group, the parent company of Danube Properties.

With a built-up area of 530,000sqft, Gemz is developed on a plot of 101,000 sqft. The G+P+14-storeyed project houses 270 apartments, including 24 Studios, 74 one-, 114 two- and 42 three-bedroom apartments, while 16 apartments are duplexes. The project features over 30 amenities that cater to the wide-ranging needs of residents. Gemz also features unique convertible layouts that allow a one bedroom unit to be made into a two bed-room unit, and a two bedroom unit into a three bedroom unit, said the statement.

Buyers who booked and paid their initial deposit on the day of the launch of Gemz had their homes fully furnished by Danube Home – a one-stop solution for all furniture, home décor, furnishing and sanitaryware. The statement added.

He added, “We consider our commitment with utmost sincerity. Delivering projects ahead of time is fundamental to Danube Properties’ principles and values. Handing over projects well ahead of time saves end-users from monthly rental costs, while investors earn extra income by leasing their properties.”

Danube has successfully delivered numerous projects in Dubai, including Jewelz, Wavez, Elz, Lawnz, Bayz, Miraclz, Glamz, Starz, Glitz 1, Glitz 2, Glitz 3, Dreamz, Resortz, Pearlz and Olivz, the statement concluded.

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Emaar Development says it maintained strong momentum during the third quarter of 2024. Property sales rose by 66% to US $13.1bn during the first nine months of 2024, compared to US $7.9bn for the same period in 2023. The success of 50 projects launches across all the masterplans during first nine months of 2024 underscored Emaar’s market leadership and positions the company for sustained future growth, said a statement from the firm.

During the third quarter of 2024, Emaar introduced ‘Lavita’ at The Oasis, its first community of luxury mansions. Set within a waterfront landscape, the collection of 43 six- and seven-bedroom homes is said to blend modern comfort and elegance. Each mansion reflects one of four architectural styles to the unique character of its residents, said Emaar Development. Part of The Oasis, a 100m sqft master-planned community, Lavita integrates wellness centres, boutique shops, and walking trails, with energy-efficient systems and eco-friendly materials.

In the first nine months of 2024 (January to September), Emaar Development reported revenue of $3.4bn and an EBITDA of $1.6bn, 69% and 35% higher than first nine months of 2023, respectively. With a continued uptrend in sales, Emaar’s sales backlog has reached $22.8bn, 47% higher than December 2023, to be recognised as revenue in the coming years, it said.

Mohamed Alabbar, Founder of Emaar, commented, “Our performance this quarter reflects the confidence and trust that our customers place in Emaar’s vision. By continuing to innovate and stay ahead of market trends, we create experiences that resonate with evolving lifestyles. Our strategy is centred on adding sustainable value for both our customers and shareholders, driving growth that aligns with Dubai’s ambitions.”

With the city’s population nearing 3.8m and continuing to rise, demand for housing, infrastructure, and services is expanding at an unprecedented pace. This growth is also driven by emerging sectors such as technology, renewable energy, healthcare, and education, attracting a diverse community of skilled professionals. Emaar Development’s strong sales in the first nine months of 2024 reflect the region’s ability to accommodate this population surge while sustaining high levels of investment and economic growth.

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Al Seeb Developers has announced the launch of Royal Regency Suites, a residential development in Dubai’s Business Bay area that aims to establish new benchmarks in both residential quality and investor returns.

The developer said that it has collaborated with industry partners to ensure seamless project execution, delivering quality across construction, design, and management. Every detail of Royal Regency Suites has been curated to reflect Al Seeb Developers’ high standards, with Italian-made entrance doors, fully fitted kitchens with premium appliances, and advanced home automation systems available in select units.

The residential project includes a lobby lounge area offering panoramic views, a café on the ground floor and a fine dining restaurant on the first floor. Health and wellness facilities such as a state-of-the-art gym with an acoustic system, a temperature-controlled swimming pool, a Jacuzzi, and gender-specific steam rooms and saunas will be featured, said a statement from the developer.

In addition, it includes sustainable and convenient features like dedicated EV charging stations, a service lift, and access and intercom systems. It will also have landscaped recreational areas that will enhance residents’ lifestyle with serene outdoor spaces and premium interiors with smart home automation options in select units, bifold doors in three bedroom apartments, and Jacuzzis in balcony layouts.

“Royal Regency Suites is an embodiment of our vision to redefine the standards of luxury living in Dubai. This project not only represents a prime investment opportunity but also aligns with our commitment to delivering exceptional value, design, and sustainability to home buyers. We are confident that Royal Regency Suites will set a new benchmark in the vibrant Dubai real estate market offering an equally attractive product to investors as well as end users,” said J P Kalwani, Founder Chairman & CEO, Al Seeb Developers.

Set for completion on 31 March 2027, Royal Regency Suites will offer investors and residents a blend of luxury, convenience, and return on investment. The project will expand Al Seeb Developers’ footprint within Dubai, in delivering value, investor-centric, quality developments that align with the UAE’s progressive real estate vision, the statement concluded.

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HIVE, Rafal Real Estate Development Company and FIM Partners announced their intent to establish a fund of US $150mn. The fund will be managed by FIM Partners, which will support the development of six to eight new co-living projects in Riyadh, aimed at meeting the rising demand for modern, adaptable living and working spaces. The announcement was made at Cityscape Global Riyadh.

The partnership marks an important milestone in Saudi Arabia’s real estate market evolution under Vision 2030. By focusing on innovative co-living developments, it offers investors a valuable entry point into an underserved, high-growth sector while addressing the Kingdom’s growing demand for flexible and affordable housing solutions, said a statement.

“With our first co-living development in Riyadh already announced earlier this year, we are excited to expand our portfolio alongside FIM Partners and Rafal. HIVE’s modern, flexible living solutions will cater to the evolving needs of urban residents, delivering convenience and community in a forward-thinking environment,” said Bass Ackermann, Founder of HIVE.

Elias Abousamra, CEO of Rafal Real Estate Development Company added, “Riyadh is ready for growth in the co-living sector, and this initiative allows us to scale up developments to meet this demand. We are committed to creating communities that offer a combination of modern living solutions and a strong sense of community, aligning with Saudi Arabia’s long-term vision for the housing market.”

The investment strategy aims to create high-quality living environments with long-term value for investors. By capitalising on the demand for modern and affordable co-living spaces, this partnership is well-positioned to offer attractive returns, helping meet both the Kingdom’s housing needs and investor expectations, the statement explained.

Fares Bou Atme, Director of Real Estate at FIM Partners stated, “Saudi Arabia’s real estate sector is undergoing rapid transformation, with co-living playing an essential role, given the substantial need for such an asset class in the market. This partnership will provide investors early access to a promising segment of the market, ensuring substantial returns as the sector matures.”

The co-living strategy targets Riyadh’s growing population of professionals, expatriates, digital nomads, and entrepreneurs, addressing the rising demand for adaptable, community-oriented living and working solutions. With a diverse and mobile workforce driving the demand for such spaces, this initiative offers a unique opportunity for investors to engage with a high-growth market primed for sustained growth, the statement said.

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Abu Dhabi Future Energy Company (Masdar) and Korporata Elektroenergjitike Shqiptare (KESH) – Albania Power Corporation – have signed a joint venture (JV) term sheet agreement to explore the development of gigawatt-scale renewable projects in Albania. The signing ceremony took place in Baku, Azerbaijan on the sidelines of COP29.

The JV term sheet agreement aims to develop, construct, and operate renewable energy projects utilising a range of renewable technologies, including solar PV, wind, and hybrid solutions, with potential integration of battery storage. The energy produced is expected to be supplied to the Albanian market and exported to neighboring countries.

Dr. Sultan Al Jaber, UAE Minister of Industry and Advanced Technology, COP28 President and Chairman of Masdar said, “This agreement is a testament to the UAE’s unwavering commitment to pioneering clean energy solutions on a global scale. By leveraging the UAE’s world-class expertise in renewable energy and Albania’s abundant natural resources, our purpose-built, future-ready infrastructure will deliver more energy with fewer emissions to more people than ever before. Agreements like these will help realise the ambitious goals of the historic UAE Consensus, aimed at tripling renewable energy capacity by 2030, and driving low-carbon socio economic progress.”

Belinda Balluku, Deputy Prime Minister & Minister of infrastructure and Energy, commented, “The partnership between KESH and Masdar is a significant moment not only for Albania’s journey towards a sustainable and secure energy sector, but also embodies the spirit of the strategic partnership between Albania and the United Arab Emirates and underscores the importance of international cooperation in achieving a green, sustainable future. By combining Albania’s rich renewable energy potential with Masdar’s global expertise, we are not only advancing our domestic energy goals but also positioning Albania as a key player in the European energy market, while enhancing our energy security, creating new economic opportunities, and contributing to our efforts to meet global climate goals.”

The partnership aims to leverage KESH’s position as Albania’s energy producer and Masdar’s global expertise in renewable energy development to accelerate Albania’s clean energy transition. A landmark in the development of renewable energy capacity in Albania, the potential joint venture will benefit from Masdar’s relationships with technology providers and financial institutions, as well as its operational expertise, while capitalizing on KESH’s local market knowledge and existing infrastructure. Through this collaboration, Masdar and KESH are advancing Albania’s decarbonisation initiatives and contributing to the broader European energy market, said a statement.

Mohamed Jameel Al Ramahi, Chief Executive Officer of Masdar commented, “The joint venture term sheet with KESH will mark a significant milestone in Masdar’s expansion into the Balkans and Southeast Europe. By combining our expertise in large-scale renewable projects with KESH’s deep understanding of the Albanian energy market, we are poised to make a substantial contribution to Albania’s clean energy transition. As Masdar targets 100GW by 2030, this joint venture with our partner KESH exemplifies the scale and ambition needed to advance the global energy transition and we look forward to further collaborations in Albania and the Eastern Balkans.”

Erald Elezi, Chief Executive Officer of KESH added, “This joint venture with Masdar is a pivotal advancement in Albania’s renewable energy journey, underscoring KESH’s commitment to sustainable development and energy diversification. Although Albania already benefits from a predominantly green energy mix, this partnership will enhance our energy resilience, improve stability, and open avenues for clean energy exports to the region. By working with a global leader like Masdar, we are poised to bring innovative renewable technologies to Albania, supporting our role as a clean energy leader in the Balkans and strengthening the country’s position within the broader European energy landscape.”

The joint venture is a component of the broader strategic partnership between the UAE and Albania. It will play a vital role in increasing Albania’s renewable energy capacity, meeting local demand while supporting its energy export capabilities to neighboring countries, and contributing to the region’s energy security and sustainability goals.

Masdar strengthened its presence in Southeast Europe with its proposed acquisition of TERNA ENERGY, the developer and investor in renewable energy projects in Greece with a target capacity of 6GW by 2029. In addition, Masdar increased its investment in the Balkans with the recently announced financial close on the 154MW Čibuk 2 project in Serbia, adding to its existing 158MW Čibuk 1 wind farm and bringing its total capacity in the country to over 300MW.

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Khalifa Economic Zones Abu Dhabi (KEZAD Group) has announced the signing of a 50-year land lease agreement for the establishment of a plant in ICAD III (KEZAD Musaffah) area to serve the requirements of the oil and gas industry.

To be developed with US $13.5mn in investment by Delmon Industrial Complex, the plant will manufacture and supply products to service the needs of oil and gas companies in the region and beyond. Delmon Industrial Complex is part of Delmon Group and is an established name in mining, oil and gas, chemicals, construction and logistics services sectors. It also offers efficient solar solutions as part of its product portfolio.

The set up of the new Delmon Industrial Complex plant in KEZAD is part of Delmon Group’s strategy to expand into the UAE, and be an integral part of KEZAD’s industrial zone for the oil and gas sector to support their UAE projects. Spanning around 59,000sqm, the proposed plant will undertake exploration, extraction and refining activities to process minerals into specialised products suited to the oil and gas industry.

The entry of Delmon Industrial Complex in ICAD III is a testament to KEZAD’s growing client base of manufacturers servicing the oil and gas industry, and adds impetus to local manufacturing initiatives in KEZAD. Joining hands with AD Ports Group and KEZAD Group is reflective of Delmon Group’s commitment towards industrial development, while upholding the sustainable manufacturing practices and operational standards prevalent in KEZAD.

Abdullah Al Hameli, CEO, Economic Cities & Free Zones, AD Ports Group said, “The agreement with Delmon Industrial Complex opens another new chapter in our history of partnerships with well-established manufacturers expanding into the UAE. We look forward to the beginning of a long and successful journey with them, and hope that this undertaking will support industry requirements adequately. The collaboration is part of our strategy to meet sustainable manufacturing goals in alignment with the wise leadership’s vision and enable further diversification of our economy towards resilient development and growth.”

Ahmed Sulaiman Alghunaim, Founder of Delmon Industrial Complex added, “The establishment of the Delmon Industrial Complex, affiliated with the Delmon Group of Companies, in the Kingdom of Saudi Arabia is an important step towards developing and expanding our business in the oil and gas sector in the United Arab Emirates. Our choice of the Emirates was based on several factors, the most important of which is the importance of this sector in the Emirates, and the good reputation of KEZAD Group in providing the best services to investors.”

Oil and gas manufacturing involve complex processes across upstream, midstream and downstream services and require the support of smart industrial systems that make extraction, production and distribution reliant and seamless. As an experienced and capable industrial solution provider, Delmon Industrial Complex will leverage its world-class facility and KEZAD’s services to provide clients with innovative products, efficiency in services and speed-to-market, the statement said.

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Compass Project Consulting (CPC) has promoted Richard Cushnan to Managing Director of its UAE business. The promotion is said to highlight CPC’s commitment to growth and evolution, and ensure that its leadership matches the standards its clients across the region have come to expect.

Cushnan assumes the role with immediate effect following a transformational tenure as Regional Director of Construction Management, a design and build service line he launched in 2023 that has since become a cornerstone of CPC’s business. His client-centered leadership has redefined CPC’s approach, and delivered seamless, agile solutions that prioritise the needs of project owners and stakeholders across the UAE and KSA, said a statement from the company.

Under Cushnan’s guidance, CPC set new standards for efficiency and value in project delivery. Clients have experienced the direct benefits of Richard’s approach – streamlined processes, proactive management, and a commitment to clear, consistent communication. Driven by his dedication, CPC’s Design & Build offering has evolved into a solution that not only anticipates client needs but also consistently meets them, ensuring projects are delivered on time and within budget, the statement said.

“I am honored to step into this role and continue building on the solid groundwork we’ve laid at Compass, since our inception in 2014. With our talented team continuing to grow, we’ve got the trust of our partners across the UAE and KSA. My goal is to further align our service lines across the business and push forward with practical, effective solutions that tackle our clients’ real needs head-on. The project landscape today isn’t simple but we’re ready to deliver the clarity, flexibility, and results our clients depend on to get their projects completed on time, in budget and to a very high quality,” said Cushnan.

With Cushnan at the helm, Compass’ UAE operations are primed for growth, as the team leverages its expertise and united spirit to elevate every project. His market insight and leadership further reinforce Compass’ reputation as the trusted partner that clients depend on for integrity, insight, and strategic success from start to finish, the statement explained.

Nassib al Sibassi, Group Managing Director concluded, “Richard’s journey with Compass exemplifies his drive and vision. From building a successful service line from the ground up, he has consistently redefined possibilities for our clients. As Managing Director UAE, Richard will undoubtedly extend our reach, working closely with our Saudi board to align strategies and drive value across borders.  Together, we’re bringing our client-centered approach to an even broader array of transformative projects. This marks an exciting new chapter for both Richard and Compass.”

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Procore has appointed Lee Miles as General Manager for the Middle East and North Africa (MENA) region. In his role, he will oversee the company’s growth and expansion efforts to empower construction professionals with innovative tools and solutions that enhance project efficiency, collaboration, and profitability across the region.

With over 25 years of experience in the software industry, Miles brings expertise in revenue growth, high-performance team building, and customer-focused solutions across diverse markets, said a statement from Procore.

As Procore deepens its commitment to supporting the construction industry in MENA, Miles will spearhead its growth strategy in the region. To support this expansion, Procore aims to connect stakeholders across the construction sector through a global platform, enabling construction leaders to deliver projects on time and within budget.

Miles will focus on tailoring Procore’s go-to-market strategies to the unique needs of the MENA region, fostering innovation, and enhancing customer success. He remarked, “Procore has already laid a remarkable foundation for construction technology in this region, and I’m eager to drive the growth plan for the success of our customers.”

Previously, Miles served as Chief Customer Success Officer at Sitecore, where he led sales, customer success, and professional services in a cohesive strategy to drive revenue throughout the customer lifecycle. His leadership played a pivotal role in Sitecore’s transformation, particularly in customer engagement and experience within the dynamic SaaS landscape.

Earlier in his career, Miles helped steer cloud transformations as Vice President for Central Europe, the Middle East, and Africa at Red Hat. He also held senior roles at Infor, overseeing the Middle East, Turkey, and India, and at SAP across EMEA, the statement concluded.

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Emirates Nuclear Energy Corporation (ENEC) and the Arab Youth Center (AYC) signed a Memorandum of Understanding (MoU) to enhance mutual collaboration and provide more opportunities for young people to become involved in the nuclear research and development (R&D) sector. The MoU was signed by Ahmed Al Mazrouei, Nuclear Research and Development Vice President at ENEC, and Sadiq Jarrar, Executive Director of the Arab Youth Centre.

Developing skills, assisting with research projects and helping to develop technological innovations within the nuclear energy sector are some of the opportunities that this MoU provides to young people in the UAE. The MoU also includes a strong focus on sustainability and its pivotal role in new technologies and solutions, said a statement.

“Institutions play an important role in supporting the UAE’s efforts to engage young people with a number of vital sectors, including nuclear research and development, and help to nurture the next generation of innovators. This partnership, which is facilitated by the Emirates Nuclear Energy Corporation, will help to provide vital employment and training opportunities,” said His Excellency Dr. Sultan Alneyadi, Minister of State for Youth and Vice Chairman of the Arab Youth Center.

“It will also provide more investment into youth projects and will support groundbreaking innovations within the nuclear energy sector. “Forward thinking initiatives like these not only benefit the individuals involved, but their countries too and play a vital role in helping to address pressing challenges such as the future of energy supplies and the impact of climate change,” added Alneyadi.

Mohamed Al Hammadi, Managing Director and Chief Executive Officer, ENEC noted, “The Emirates Nuclear Energy Corporation has been committed to providing academic scholarships and training programmes to continue developing Emirati talents in this advanced scientific and technical sector since the launch of the UAE Peaceful Nuclear Energy Program. This new commitment seeks to ensure the sustainability of the program by cultivating and supporting developing the future leaders of the nuclear energy industry in the UAE. This approach is based on the belief that youth must play a leading role in the UAE’s transition journey to clean energy as part of the Nation’s  Net Zero 2050 targets.”

Based on the MoU, ENEC and the AYC will work together to promote and enhance the effective use of facilities, resources, and joint projects to develop collaborative educational programs, training and workshops that are designed to develop knowledge and skills. This will include engaging with members of the Arab Youth Initiative and other experienced Arab youth groups in the region, offering partnership opportunities with the Arab Youth Council for Climate Change and the Barakah Youth Council, established by ENEC.

ENEC and the AYC will further collaborate to launch joint projects that are dedicated to supporting youth communities in the region, fostering constructive discussions, and the provision of specialised training sessions and workshops through the Arab Youth Council for Climate Change.

These measures will be supported by the launch of youth forums to improve understanding and awareness of nuclear energy aspects and the development of a research paper to further raise awareness about civil nuclear energy. Members of the Arab Youth Initiative and the Technical Fellowship Programme for Arab Youth will jointly contribute to this project to attract and empower more young promising talents into this sector.

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