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DUBAL Holding has announced a stake acquisition in BiOD which it claims will propel the UAE’s position in the global green economy, “reinforcing both companies’ dedication to environmental sustainability and innovation in the energy sector.”
BiOD, is the UAE’s and the GCC’s largest biodiesel manufacturer, is renowned for its pioneering work in transforming used cooking oils (UCO) and palm oil mill effluent (POME) into clean biodiesel.
As the operator of the GCC region’s only second-generation biodiesel plant, BiOD stands at the forefront of technological innovation in renewable energy, showcasing its commitment to the circular economy and reducing greenhouse gas emissions by 84 per cent, as verified by its ISCC certification.
DUBAL Holding, a sovereign wealth fund with a focus on sustainable and green investments, recognizes the strategic importance of BiOD’s mission and operations. This investment underscores DUBAL Holding’s commitment to fostering a sustainable future and supports Dubai’s vision for a green economy.
“This partnership with BiOD aligns perfectly with DUBAL Holding’s strategic objectives of investing in environmentally responsible and innovative businesses. We are confident that this collaboration will not only contribute to sustainable development in the UAE but also set a precedent for environmental responsibility worldwide,” said Ahmad bin Fahad, CEO of DUBAL Holding.
Echoing this sentiment, BiOD’s CEO, Shiva Vig, expressed profound gratitude and optimism about the future.
“We are thrilled to welcome DUBAL Holding as a strategic partner. This is not just an investment in our company but a testament to our shared vision for a sustainable future. We are proud to contribute to the UAE’s green economy and look forward to making even greater strides in renewable energy with DUBAL Holding’s support. I also want to acknowledge our advisors at Ideal Capital for their crucial role in facilitating this deal,” Vig stated.
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c, a leading global business conglomerate and master developer behind The Heart of Europe, has launched the Marbella Resort Hotel, Vignette Collection by IHG Hotels and Resorts, on the World Islands, Dubai.
The AED 1 billion five-star hotel draws inspiration from the architectural marvels of the Spanish resort town of Marbella, and is poised to bring the complete Costa Del Sol experience to the UAE with its distinct Andalusian-inspired design.
The hotel is surrounded by half a million square metres of 9 different types of coral reefs that house over 30 types of fish. The kilometre long raining street winds around the hotel, bringing a cooling downpour on the streets every few minutes.
Guests can experience authentic European cuisines at one its 6 restaurants: Descanso, its signature restaurant that offers Live cooking stations, Live entertainment and signature sangrias; Casa Bougainville, that offers small, somewhat delicate appearing tapas that burst with flavours and texture; The Citrus Gem with its unique café experience, offers its guests a selection of light bites, pastries, and authentic Spanish coffee; Arenda Dorada, meaning ‘beautiful sand’ is the hotel’s beach and pool restaurant that transports guests back to the idyllic beach clubs of Marbella; the Challet Sierra, hotel’s Après ski bar is further enhanced by the Snow Plaza experience, adding an extra layer of excitement and authenticity to the après-ski ambiance.
Crowning the gastronomic possibilities, is the Carmen Amaya Bodega bar, named after the famous Spanish Flamenco dancer. This venue is intended to be a hidden gem offering a unique experience as a destination for wine, cheese, and bites, in which the passion behind the Flamenco comes to life and immerses the guests into a true and authentic Spanish Bodega Bar experience. For its guests seeking wellness time out, the hotel also brings an authentic hammam experience at The Arabian spa. There is solace to be found in its cave-like architectural style and a menu of multiple massage treatments.
The property will feature various pricing options, catering to diverse preferences and requirements. Investors into the project will find it highly rewarding as well, with assured and guaranteed returns on investment of 8.33% per annum, for 12 years. With only limited units being released, and the prices on The World Islands on a continuous upward trajectory, this opportunity is likely to be extremely popular with investors from UAE and overseas markets alike.
Josef Kleindienst, Chairman of Kleindienst Group, expressed his enthusiasm about the launch, stating: “We could not be prouder of this new project. The Marbella Resort Hotel, Vignette Collection is a testament to our commitment of delivering exceptional experiences that are also true to our commitment
to sustainability. We envisioned a destination that provides a unique cultural escape with experiences that are authentically Spanish, right here in Dubai. We have been conscious of our commitment to making our projects environment friendly, with employment of solar power and adoption of policies aimed at zero discharge of microplastics. This is just the beginning of our journey to redefine regional hospitality standards.”
The 150-key luxury hotel, will be IHG Hotels and Resorts’ first Vignette Collection on the World Islands, and is set to bring Spanish living with its gardens that provide an oasis of calm for daily meditation, sunken courtyards, citrus and olive groves and the Après Ski bar that bring alive the magic of Andalusia. Guests at The Marbella Resort Hotel will have the option of choosing from any of the suites, chalets or cabanas that face the sea, the snow plaza or the famous raining street.
Guests can experience a distinctive boutique retreat, where beach parties, water sports, open-air sea-breeze restaurants, pristine beaches, mesmerising sunsets, vibrant coral reefs, exhilarating diving adventures, and authentic culinary delights converge seamlessly with signature spa offerings for a truly unforgettable Spanish escape.
Marbella Resort Hotel, Vignette Collection, will have the distinction of being the first hotel with private coral reefs for its guests, allowing them to explore the stunning underwater world in a truly immersive manner. Visitors will also experience snorkelling and diving. These reefs will attract diverse marine species, including angelfish, anemonefish, lionfish, and green turtles, as part of the broader coral reef master plan for The Heart of Europe.
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With demand for both off-plan and ready properties in Dubai at an all-time high, developers are locked in an intense battle to win over real estate investors.
Firas Al Msaddi, CEO of fäm Properties, says more options for buyers in a maturing market means that developers are battling on several fronts to get their attention.
“The abundant supply of residential property is influencing buyers and investors to become more selective when choosing a project, and even an individual unit,” says Al Msaddi.
“This is one of the signs of a maturing market. As a result, the competition between real estate developers is intensifying, and several vital competitive metrics decide who stands out.
“One key is the overall value of each offering, including lifestyle and living experience, location, finishing and overall quality, supported by the developer’s brand and reputation.
“Meanwhile, with property values at an all-time high, the total ticket price per unit is becoming more significant than price per square foot. Payment plans are particularly crucial in the current environment of high borrowing costs.”
Soaring Dubai property demand was highlighted by a record AED124.4bn of transactions in Q2 2024. Meanwhile, growth in supply continues, with 59,000 units registered by developers so far this year, following last year’s total of 101,000, double the figure for 2023.
“While the off-plan property market remains robust, not all developers fully capitalise,” says Al Msaddi. “Projects that stand out have unique selling points – like Verve City Walk, which recently sold 427 units in 45 minutes, with the penthouse fetching AED30 million.”
“The best sales stories come from developers like Meraas devoting time and resources to know the market inside-out, planning carefully, and having experienced brokers on their team.”
Developers, regardless of their size, are also competing for the attention of real estate agents, who account for most sales, and can benefit by avoiding the fast track to commission.
“Smart agents understand that selling the right property to investors to give them the best returns brings continued business and referrals,” says Al Msaddi. “Agents who prioritize higher commissions for themselves over project profitability often miss out in the long run.”
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NMDC Group, an engineering, procurement, construction and marine dredging conglomerate, has been awarded a AED130m ($35.3m) contract by Jubail Island Investment Company for its Abu Dhabi Mangrove Sanctuary.
In its filing to the Abu Dhabi Securities Exchange (ADX), NMDC specified that the project scope includes channel widening works in Areas 2 & 3, within the heart of the mangrove project.
The entire contract work is likely to be completed extremely quickly: slated for 180 days.
A leading provider of dredging, reclamation, and marine construction projects in the Middle East, NMDC has a strong international presence, with a portfolio of upcoming projects in the Middle East, SE Asia and South Asia regions.
This win comes close on the heels of NMDC being awarded a major contract by Abu Dhabi National Oil Company (ADNOC) for the proposed construction of the Al Nouf artificial island. Valued at $137m, this project will see NMDC dredge the surrounding waterways, build the island’s new foundations and create the full infrastructure for an important new energy hub. Al Nouf is strategically located west of Abu Dhabi city.
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