Dubai Holding, through its wholly owned subsidiary DHAM REIT Management (Fund Manager), has announced an increase in the offering size of Dubai Residential REIT’s initial public offering (IPO). The approval was granted by the UAE Securities and Commodities Authority (SCA).

Dubai Residential REIT is a Shariah compliant income-generating closed-ended real estate investment fund that is currently in the establishment phase. It is one of the largest owners and operators of residential real estate in Dubai. The REIT will now float 15.0% of its issued unit capital, instead of the previously announced 12.5%, said a statement.

DHAM REIT Management exercised its right to increase the number of units driven by the strong demand from domestic and international investors and over-subscription across all tranches. Upon listing on the Dubai Financial Market (DFM), DHAM Investments, a subsidiary of Dubai Holding, will continue to own a majority 85% stake in the REIT. Based on the unchanged offer price range per offer unit, the revised offering size is expected to be between US $568mn and $584mn, implying a market capitalisation at listing of between $3.8bn and $3.9bn.

Dubai Residential REIT’s Offering, as previously announced, comprises two tranches. The revised offering size is as follows, First Tranche, the UAE Retail Offer, remains unchanged at 162,500,000 units and is open to retail investors and eligible entities holding a National Investor Number (NIN) with the Dubai Financial Markets (DFM). The Second Tranche, the Institutional Offering, has been increased from 1,462,500,000 units to 1,787,500,000 units. This tranche is open to qualified institutional investors (Professional Investors) outside the United States, subject to Regulation S, applicable UAE laws, and SCA approval.

Each successful subscriber in the First Tranche will be guaranteed a minimum allocation of 2,000 Units, provided that the total number of units issued under the minimum guaranteed allocation does not exceed the Tranche size and remains within the limits and conditions set out in the Prospectus. Investors in both tranches can subscribe to the offering which will close on 20 May 2025. The final offer price will be determined through a book building process conducted in consultation with the Joint Global Coordinators, the Fund Manager and the Selling Unit holder, and is expected to be announced on 21 May 2025.

The completion of the offering and admission of units to trading on the DFM (Admission) is expected to take place on or around 28 May 2025. The units are expected to trade under the symbol ‘DUBAIRESI’. The details of the offering are available in the prospectus and public subscription announcement (Public Announcement), and in an English-language international offering memorandum (International Offering Memorandum).

Dubai Residential REIT, subject to the approval of the REIT Board and other provisions outlined in the UAE prospectus, said that it plans to implement a semi-annual dividend distribution policy, with payments made in April and September of each year, commencing in September 2025. For the financial results of the year ending 31 December 2026, and beyond, Dubai Residential REIT intends to distribute at least 80% of its profit for each accounting period, subject to Board approval. The Offer Price Range suggests a gross dividend yield of 7.9% at the lowest end of the range and 7.7% at the highest end for the year ending 31 December 2025.

Citigroup Global Markets, Emirates NBD Capital PSC, and Morgan Stanley & Co. International have been appointed as Joint Global Coordinators and Joint Bookrunners. Emirates NBD Bank has been appointed as the Lead Receiving Bank. Abu Dhabi Commercial Bank, Arqaam Capital Limited acting in conjunction with Arqaam Securities, and First Abu Dhabi Bank are acting as joint bookrunners (together with the Joint Global Coordinators, Banks) for the offering, Abu Dhabi Islamic Bank, Al Maryah Community Bank, Commercial Bank of Dubai, Emirates Islamic Bank, Mashreq Bank have also been appointed as Receiving Banks.

Pursuant to the Underwriting Agreement, the Selling Unitholder will be subject to a lock-up on the units from the date of the agreement until 180 days after admission, subject to certain customary carveouts and consent from the Joint Global Coordinators. Dubai Residential REIT will also be subject to a lock-up for the same duration.

In connection with the offering, the selling unitholder will allocate proceeds from the sale of up to 243,750,000 offer units to xCube, a DFM-authorised price stabilisation manager appointed by the Fund Manager. These proceeds may be used, in accordance with applicable laws and DFM Trading Rules, to conduct stabilisation transactions on the DFM. The banks and their respective directors, officers, employees, agents, and affiliates will not be involved in, responsible for, or benefit from any such transactions, which will be carried out solely by xCube.

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UAE-based facilities management (FM) company Farnek has launched the Farnek Hybrid Unit (FHU), presenting a transformation in cleaning by integrating human operatives with advanced and intelligent robotic cleaners, the firm said in a statement.

Robots can collaborate with operational staff without traditional physical supervision, carrying out cleaning tasks autonomously. They can recharge themselves, using real time localisation and environmental perception to avoid hazards, and clean up to 5,000sqft per hour. During autonomous cleaning, robots are equipped with sensors and mechanisms that enable obstacle detection, fall prevention, and anomaly impact detection, it added.

“Essentially the model is centered around Hybrid Units (HU), where tasks are completed without distinction between humans and robots, focusing on efficiency and quality of outcome. The robotic units can handle the heavy lifting, repetitive cleaning, and large surface areas, allowing manual operatives to focus on higher value or specialised tasks, such as sanitising sensitive areas, and spot cleaning. This strategic distribution of tasks enhances overall productivity while reducing overlapping and wasteful man hours,” said Julian Khalil, Managing Director, Farnek Services.

Robotic vacuum cleaners are digitally mapped, ensuring precise and 100% area coverage. This eliminates the gaps often left by manual processes, which can occur due to human error or fatigue. Robotic paths are pre-mapped and optimised, guaranteeing complete surface coverage and achieving cleaning standards.

“Unlike human operatives, robots can be deployed in operations 24/7 without fatigue. This multi-shift capability reduces the need for additional manpower, particularly in high-traffic areas and during off-peak hours. The Farnek Hybrid Unit is a transformative step to deliver commercial cleaning services. This is more than just a technology shift it’s a cultural evolution in how we see cleaning, moving forward. Data-driven, performance-oriented, and future ready. The maintenance of intelligent robots is predictable and scheduled, avoiding unexpected maintenance costs typical with manual equipment. With robots handling repetitive tasks, fewer human operatives are required, optimising labour costs,” added Khalil.

Farnek’s CAFMTEK Mobile App, which was designed and developed by its sister company HITEK AI, dynamically schedules and monitors all Hybrid Units. This app provides supervisors with real time visibility, live task updates, and dedicated reports. It also enables instant adjustments to manpower and robotic assignments based on real time demand. Consistent status updates are available via the CAFMTEK app on smartphones or PCs, the statement outlined.

“The unique aspect of Farnek’s hybrid model is our use of AI technology. Our CAFMTEK digital solution, which provides connectivity and technology integration, links the robots to operational management teams, accelerating precise, real-time monitoring, predictive cleaning and manpower requirements, as well as enhancing data-driven decision-making,” explained Javeria Aijaz, Managing Director of HITEK AI.

Optimisation leads to substantial cost savings. Unlike humans, robots don’t take vacations, sick leave, or suffer from fatigue. They operate continuously, eliminating any potential efficiency or cost impact caused by human or cleaning equipment downtime. Human productivity typically declines over an eight-hour shift, while robotic units maintain consistent performance throughout. This minimises the cost of managing shifts, payroll, and compliance through automated scheduling, the statement concluded.

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Sobha Realty has unveiled its latest masterplan development in Dubai. Located on Sheikh Zayed Road, Sobha Central promises to be the next transformative lifestyle hub, rising as a vertical urban sanctuary with six premium residential towers. Backed by Sobha Realty’s Backward Integration Model, the masterplan was unveiled with the first tower slated for delivery December 2029.

Sobha Central is designed as a self contained, future forward address where luxury, lifestyle, and business converge. It offers a mix of amenities, working spaces, entertainment venues, and retail experiences, making it a global hub within itself. The development launches with 1,225 homes, a mix of one- and two-bedroom residences for those seeking accessibility, modern amenities, functional design, and investment.

Ravi Menon, Chairman of Sobha Group said, “Sobha Central is a bold expression of our vision to shape the future of urban living in Dubai. Strategically located on the most powerful corridor of the Middle East Sheikh Zayed Road, this development goes beyond architecture to create a self sustained high living community that blends design, connectivity, and functionality. Every element reflects our ‘Art of The Detail’ philosophy, an uncompromising commitment to quality and precision. With Dubai’s real estate market on an upward trajectory, Sobha Central caters to the evolving aspirations of modern homeowners and investors seeking long-term investment value in a vibrant, central location.”

The six towers are linked by an elevated circulation path that connects residents to indoor amenities including the gym, theatre, clubhouse. This pathway extends to select lift cores, providing direct internal access to shopping mall, restaurants, supermarkets, and a Grand Hall for the convenience of both the residents and the surrounding community. The mixed-use project features residential, retail, healthcare and office offerings. The integrated retail podium also delivers a car free shopping & dining experience right at the residents’ doorsteps.

“Recent industry reports highlight Marina, JLT and surrounding corridors among Dubai’s most resilient sub-markets, recording rental yields of 7–10% and consistent capital appreciation; positioning Sobha Central as a prime asset for both end-users and investors,” added Menon.

Outdoors, private themed courtyards are nestled within a central park, offering moments of calm, community, and recreation. Residents will also enjoy open space, with amenities such as landscaped terraces, infinity pools, wellness lounges, and recreational decks.

In line with Sobha Realty’s commitment to sustainable, forward-thinking development, Sobha Central incorporates eco-smart solutions such as double glazed façades, energy efficient HVAC systems, EV charging stations, and advanced district cooling. The use of locally sourced materials further reduces environmental impact and reinforces the brand’s responsible design ethos.

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Meraas has launched a new residential project in Dubai’s d3. The 45-storey Atélis residential project was designed by SOM and will be located on the Creekside shoreline.

Atélis will feature 280 residences with a range of one-, two-, three-, and four-bedroom apartments. Inspired by the UAE’s desert flower, the tower will boast a distinctive facade defined by curved, petal like balconies. The terraces not only create a distinct appearance but also provide shade, enhancing the building’s environmental performance while offering waterfront views and Dubai’s skyline.

Atélis at d3 includes three exclusive duplex sky villas, each of which features a private terrace overlooking the cityscape along with two penthouses with double height living spaces and a statement staircase, combination of space, design, and views.

Khalid Al Malik, Chief Executive Officer of Dubai Holding Real Estate said, “We are thrilled to unveil an architectural marvel like Atélis at d3, marking a new era for the city’s creative hub. The iconic tower is destined to set new benchmarks for elevated living, further upholding the dynamic urban landscape of Dubai. Its design embodies the innovation and creativity that defines our city, and we are proud to reaffirm our commitment to Dubai’s Economic Agenda D33 and the 2040 Urban Master Plan through this exceptional project.”

Atélis at d3 fosters an experience of tranquillity, wellness, and recreation, by a resort like ambiance. The project offers three floors of amenities, with co working spaces, entertainment room, children’s learning area, and a multi-purpose room that extends to the outdoor gardens on the ground floor. One entire floor features spa and wellness amenities, including a gym, infinity pool with lounges and a reading lawn.

The project forms part of d3’s upcoming expansion, which will play a vital role in meeting the demand from global customers in the design, fashion, and creative industries. The expansion project, which includes the development of six Grade-A office buildings, will add more gross leasable area (GLA) to the district, making d3 the destination of choice for creative minds around the world.

The new development will feature office spaces built in line with LEED certification standards, and is set for completion by H1 2028. The project will also include sports facilities, community spaces, ample parking, fine dining options, all surrounding the residential developments.

Meraas’ projects offer a unique blend of people-centric communities rooted in wellness and sustainability, nestled within planned master communities that are instrumental in realising Dubai’s 2040 Urban Master Plan. Committed to luxury, exclusivity, and privacy, this new address is poised to be part of one of the global creative hubs, d3, which houses creative brands, designers, studios, and entrepreneurs.

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ACCIONA Living & Culture has completed the design and execution of Pathway to Peace, a newly inaugurated exhibition curated by the International Media Office (IMO) of the State of Qatar. This exhibition delves into the crucial role of mediation and peace building in shaping the global stage.

Located in the grand ballroom of the Sheraton Grand Doha Resort & Convention Hotel, the exhibition presents a powerful and captivating journey through Qatar’s dedication to peaceful diplomacy and conflict resolution. Pathway to Peace centre, its focus on mediation as a cornerstone of Qatar’s foreign policy, shedding light on the nation’s role as a neutral facilitator in international negotiations and dialogue, the firm explained.

ACCIONA Living & Culture was the driving force behind the design and execution of this project, overseeing every aspect from spatial adaptation and lighting design to the installation of narrative, audiovisual, and interactive content. The result is an environment that embodies the core values of diplomacy, cultural understanding, and cooperation that underpin Qatar’s global initiatives, it added.

This exhibition marks another milestone in ACCIONA’s presence in the region. It further underscores its expertise in designing innovative cultural spaces that inspire, educate, and foster connections among people through storytelling and thoughtful design. ACCIONA Living & Culture, with its presence in the region, continues to deliver cultural projects that inform, inspire, and foster meaningful public engagement.

The project adds to ACCIONA Living & Culture’s portfolio in Qatar. ACCIONA, in collaboration with UCC, spearheaded the design and museography of the 3-2-1 Qatar Olympic and Sports Museum, the largest museum globally dedicated to Olympic Games and sports. Additionally, ACCIONA led the design and production of 150 media installations for the National Museum of Qatar, played a pivotal role in the development and implementation of Msheireb Museums, and numerous temporary exhibitions for Qatar Museums, including the Al Jazzera Exhibition and Tales of a Connected World: Lusail Museum.

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Umm Al Quwain Free Trade Zone (UAQ FTZ) has signed a Memorandum of Cooperation (MoC) with the Dubai Land Department (DLD), a move that now allows UAQ FTZ-registered companies to legally acquire and register freehold property in Dubai under their business name. This collaboration enables businesses to scale, diversify, and root themselves in the UAE’s real estate market.

“We are proud to lead with purpose and enable our investors to participate in Dubai’s thriving real estate sector with full legal clarity and institutional support,” said Sheikh Mansoor Bin Ibrahim Al Mu’alla,Executive Director of Umm Al Quwain Free Trade Zone Authority.

The agreement establishes a legal and operational framework between the two government entities, eliminating traditional barriers and facilitating the ownership of strategic real estate assets by licensed businesses that align with their growth roadmaps.

“This is a transformative step for the businesses we support. We’ve consistently positioned UAQ FTZ as a strategic gateway to the UAE. This collaboration now gives our license holders the power to secure real estate assets in Dubai, aligning with their growth ambitions and offering long-term operational stability,” added Johnson M. George,General Manager of UAQ FTZ.

“This partnership reflects Dubai Land Department’s commitment to enabling real estate investment across the UAE through collaboration and innovation. We’re proud to work with UAQ FTZ to provide a seamless and legally sound framework that supports business expansion while upholding regulatory excellence,” noted Majid Saqer Almarri, CEO of the Real Estate Registration Sector at Dubai Land Department.

This milestone of inter-governmental cooperation aligns with the UAE’s vision for economic diversification, foreign direct investment growth, and cross-emirate business operations. The resulting benefits span various operational and strategic dimensions. It enables direct freehold ownership under a company name, expedites registrations through integrated digital systems, and ensures transparency in ownership transfers. Both entities have also committed to ongoing regulatory coordination, reinforcing compliance with anti-money laundering and counter-terrorism financing standards.

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BESIX recently secured an award for a marine infrastructure project at SOHAR Port and Freezone in Oman. The project award sees BESIX’s return to the Omani market and marks the expansion of its regional activities beyond the UAE, Saudi Arabia, and Qatar.

The project scope includes constructing a Liquefied Natural Gas (LNG) jetty, implementing shore protection measures, and developing an advanced drainage network.

The contract will be executed by BESIX, leveraging its marine expertise and record in the Sultanate. The firm says it has completed various marine projects in the region, including the marine works at the Duqm refinery and Sultan Qaboos Port, the seawater intake system in Barka, and earlier developments at Sohar Port. Construction is scheduled to commence in summer 2025 and is expected to last 16 months.

The new LNG jetty will be a crucial component of the infrastructure supporting the Marsa LNG project, which aims to be the Middle East’s first fully solar-powered LNG bunkering hub. By facilitating the safe and efficient transfer of cleaner marine fuel, the jetty contributes significantly to the project’s broader sustainability goals.

Emile Hoogsteden, CEO, SOHAR Port said,  “Partnering with BESIX on this strategic development reinforces our commitment to advancing sustainable energy solutions in the region. The new LNG jetty is a cornerstone of the Marsa LNG project, and it exemplifies the kind of forward-thinking infrastructure that positions SOHAR as a leader in green maritime logistics.”

Peter Lembrechts, General Manager, BESIX Middle East added, “This contract represents the trusted collaboration we first established with Sohar Port years ago. We look forward to delivering this project with the same focus, reliability, and excellence that define BESIX across Oman and the Gulf.”

BESIX has been delivering jetties worldwide for several decades. Their portfolio includes jetties such as the South Hook Terminal in the UK, Wheatstone LNG in Australia, LNG Kitimat in Canada, the LNG import terminal in Bahrain, and Ain Sokhna LNG in Egypt.

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Nominations for the 2025 edition of the Digital Construction Awards (DC Awards) will close in less than a week, the Big Project Middle East (BPME) editorial team has confirmed. The BPME team confirmed that nominations will close on 21 May.

Formerly known as the ME Digital Construction Awards, the DC Awards gala event will take place this year at the Ritz Carlton JBR, Dubai on 26 June, where the full shortlist and winners will be revealed in each category.

The awards comprise 15 distinct categories designed to recognise trailblazers and innovation across individuals, companies and projects. The BPME editorial team has confirmed that all categories are open to nominations from government organisations, developers, consultants, contractors, integrators/specialists as well as suppliers.

“I’m looking forward to closing nominations next week and sitting down with the BPME editorial team to kick off the first round of eliminations. Following that process, the remaining nominations will be sent off to our panel of industry judges for deliberation. The BPME team and I will then sit down with the judges at a later date to vote on the strongest nominations for the shortlist. Nominations with the most first-choice votes will be chosen as the winner,” explained Jason Saundalkar, Head of Content at Big Project Middle East.

The 2025 edition of the awards comprises the following categories: Young Technology Champion of the Year; Digital Visionary of the Year; Digital Team of the Year; Construction Software Provider of the Year; Construction Hardware Provider of the Year; Digital Contractor of the Year; Digital Consultant of the Year; Technology SME of the Year; Digital Government Organisation of the Year; Data Champion of the Year; Digital Construction Innovator of the Year; Net-Zero Technology Champion of the Year; Excellence in Collaboration & Productivity; Digital Construction Project of the Year – Building, and Digital Construction Project of the Year – Infrastructure. Nominations will close on 21 May, read the nomination guidelines by clicking here.

Read more about the Digital Construction Awards here.

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Khazna Data Centers (Khazna) has announced its plans to construct an AI-capable data centre in Türkiye. This data centre will have the potential to handle a capacity of up to 100MW, and it has secured a site in Başkent, OIZ, Ankara. This announcement comes after a surge in interest and investment in AI within the country.

Stanford University’s Artificial Intelligence Index for 2025 revealed a remarkable 198% increase in AI talent concentration in Türkiye between 2016 and 2024. Moreover, this development follows the signing of several memoranda of understanding (MOUs) and strategic agreements worth over US $50bn between the UAE and Türkiye in 2023.

With the increasing global expansion of hyperscale data centres, Khazna will serve as the foundation layer for the digital infrastructure by empowering governments, businesses, and societies, Khazna ensures that these entities can thrive in the digital age. Their data centres are designed to handle the high-density computing demands essential for the next-generation AI-powered applications to drive the future economy.

The new data centre in Ankara has been designed with the flexibility to host a variety of workloads, ranging from AI to cloud and other critical applications. While the first phase will constitute a cloud-focused design, the modular facility can be expanded and adapted to meet evolving demands across diverse technological requirements, ensuring robust support for future innovations.

Like Khazna’s other facilities, the new data centre in Ankara will be built to maximise operational efficiency. The design will incorporate features to enhance energy efficiency and minimise environmental impact. These include the use of low Global Warming Potential (GWP) refrigerants that do not contain Hydrofluorocarbons (HFCs), the integration of solar photovoltaic (PV) panels, and the use of low-carbon and recycled materials.

Additionally, the facility will explore the use of solar water heating systems, as well as employ high-efficiency adiabatic chillers that maximise the use of free cooling where possible. The design also incorporates systems for re-using wastewater and generators capable of running on Hydrotreated Vegetable Oil (HVO) fuel, further reducing the facility’s carbon footprint.

Hassan Alnaqbi, CEO of Khazna Data Centers added, “We’re proud to be supporting the efforts being made in Türkiyeto create an advanced economy with AI at its heart, and we hope to be able to provide the foundation layer for this. We believe this data centre will add to the country’s impressive economic growth, encouraging innovation and accelerating digital transformation.”

Saeed Thani Hareb Al Dhaheri, Ambassador of UAE to Türkiye commented, “Khazna Data Centers’ expansion into Türkiye is a testament to the deepening ties between our countries. Relations with Türkiye are of great importance within the UAE’s strategy to strengthen its partnerships, expand its relations and reinforce bridges of cooperation in all fields.”

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