The Dubai Economic Agenda ‘D33’ has been unveiled by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai. The primary goal of the agenda is to double the size of Dubai’s economy over the next decade, and consolidate its position among the top three global cities.

“In line with our long-standing tradition of launching key new initiatives on 4 January, today we approved the Dubai Economic Agenda ‘D33’ that aims to double the size of Dubai’s economy in the next decade and consolidate its position among the top three global cities. The Dubai Economic Agenda ‘D33’ includes 100 transformative projects, with economic targets of US $8.71tn over the next 10 years, doubling our foreign trade to reach $6.96tn and adding 400 cities as key trading partners over the next decade,” said Sheikh Mohammed.

He continued, “Dubai will rank as one of the top four global financial centres with an increase in FDI to over $176.9bn over the next decade and an annual $27.2bn contribution from digital transformation. Over 300,000 global investors in Dubai today are helping build Dubai into the fastest growing global city.”

“2033 will mark 200 years since the foundation of Dubai: the year in which Dubai will be the most important global business centre, and by then we would have completed the D33 Agenda. We know our economic path over the next decade. The world makes way for those who know what they want,” he stated.

The launch of the ‘D33’ Agenda formed part of Sheikh Mohammed’s annual address on the anniversary of his Accession Day on 4 January. The comprehensive agenda includes the launch of innovative projects that will help achieve Sheikh Mohammed’s vision to make Dubai the world’s best city to live and work in, and will drive sustainable economic growth through innovative approaches.

The agenda outlines growth by investing in human development, skillsets and advanced technology and consolidating Dubai’s global competitiveness, innovation and knowledge-based economy. The agenda will also invest in enhancing the advantages gained from Dubai’s strategic location and its advanced infrastructure to raise the city’s status as a preferred destination for major international companies and investments.

In mid December 2022, the Top City Destinations Index ranked Dubai No.2 globally.

D33 will see a growth in government expenditures from $139bn in the past decade to $190.5bn in the next decade, with increased investment in future growth sectors and further development of traditional trade and economic sectors.

According to the Dubai Media Office, one of the pivotal goals of the agenda is to raise the competitiveness of the city’s business sector, which will enable the increase of private sector investment from $215bn in the past decade to $272.2bn by 2033. It also aims to increase the value of domestic demand of goods and services from $599bn in the past decade to $816.7bn in the coming decade, in line with Dubai’s vision for enhancing its trading sector and diversified economy.

One of the other key objectives of the agenda is generating new economic value from digital transformation. The digital economy is a major pillar in the agenda, with Dubai embarking on a new phase in which it seeks to pioneer and sustain the growth of an economy based on knowledge, innovation and future technologies.

The agenda will also focus on raising the value add of the industrial sector and promoting export growth, contributing to  sustainable economic growth, and achieving self-sufficiency in a number of key sectors and industries, including manufacturing. Other key priorities include making Dubai one of the five leading logistic hubs in the world, and one of the top four global financial centres. The agenda also seeks to increase the productivity of Dubai’s economy by 50% through innovation and digital solutions.

It also aims to integrate Emiratis into the private sector, making Dubai a hub for skilled workers, the fastest growing and most attractive global business centre, and an international hub for global multinational companies (MNCs) and national SMEs. The agenda will also focus on transforming Dubai into one of the top three international destinations for tourism and business by providing a globally competitive environment for business sustainability and driving down the cost of doing business across a number of sectors. In addition, the agenda outlines the bolstering of Dubai’s position as a fast growing and attractive business hub with world-class quality of life and the highest levels of security and safety for Dubai’s citizens and residents.

The agenda’s first set of projects including adding 400 cities as key trade partners and launching the Dubai Economic Corridors 2033 initiative, which will enhance existing foreign trade relations with Africa, Latin America and Southeast Asia.

Late in December 2022, the Dubai Land Department unveiled its new strategic plan for 2023-26.

The agenda is said to comprise a programme to support the growth of 30 companies in new sectors to become global unicorns, and integrate 65,000 young Emiratis into the workforce and the private sector. The Dubai Traders Project (DT33) meanwhile will empower a new generation of Dubai traders in various major growth sectors, driving growth in the city’s vibrant trading hub, the statement from the Dubai Media Office said.

The first set of projects of the agenda also include the Dubai Unified License that will provide a unique commercial identity for all companies across economic zones, and ‘Sandbox Dubai’, which aims to make Dubai a major hub for incubating business innovation by enabling the testing and marketing of new products and technologies.

The agenda also calls for the launch of the ‘Dubai Project’ to attract the world’s best universities, as part of the broader aim of making Dubai a leading global hub for higher education, and a programme to promote the growth of SMEs by identifying 400 high-potential companies and supporting their capacity-building and global expansion.

In early January 2023, Realiste predicted that Dubai’s current real estate boom will continue in 2023.

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Global air and travel services provider dnata has broken ground on a $14mn cargo warehouse at Erbil International Airport (EBL) in Iraq. The firm says the warehouse will support the expansion of its operations at the terminal and will create 50 new direct jobs with dnata in the country.

The cargo warehouse is scheduled for completion in September 2024 and will be capable of processing 100,000t of cargo annually including perishables, pharmaceuticals and dangerous goods. dnata said it will also implement its advanced ‘OneCargo’ system within the facility, digitising processes and maximising efficiencies across its cargo operations in the country.

The foundation stone for the facility was recently revealed by dnata’s Senior Vice President for UAE and Iraq Airport Operations, Jaffar Dawood.

In early November 2021, the Mheila Reverse Osmosis WTP was completed in Iraq’s Basra region.

Dawood said, “We are delighted to expand our operations in response to the growing demand for our reliable and safe cargo services in Erbil. Our new facility will incorporate cutting-edge technologies and the latest carbon reduction initiatives in design and operation, ensuring the highest level of operational and environmental efficiency for our customers. We stay committed to the Iraqi aviation industry and continue to invest in our operations to contribute to the development of Erbil as a regional cargo hub.”

According to dnata, the facility will be equipped with the latest technologies including thermal insulation to reduce the building’s environmental impact by maintaining low CO2 manufacturing emissions and operating costs. In addition, the facility’s environmentally sustainable features include a water harvesting system, which recycles condensed water, low energy skylighting, and an all-electric forklift fleet.

dnata’s latest expansion follows the opening of a new, advanced cool chain facility and a bus maintenance facility in 2022 at the airport. The company said it is currently provides ground handling and cargo services to over 25 airlines with a team of over 400 aviation professionals.

In mid July 2022, Saudi Arabia and Iraq said they were moving forward on an electricity interconnection project.

The air services major said it has, in recent years, made a number of strategic investments in new cargo facilities in London and Manchester (UK), Karachi and Lahore (Pakistan), and additional cargo capacity and infrastructure in Brussels (Belgium), Sydney (Australia) and Toronto (Canada).

Last January, it announced an investment of over US $212mn in one of the world’s largest and most advanced cargo facility, dnata Cargo City Amsterdam, at Schiphol Airport in The Netherlands.

In early November 2022, construction work on Kuwait International Airport achieved significant headway.

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The 2023 edition of the Big Project Middle East Golf Day will take place at the Arabian Ranches Golf Club in Dubai on 31 January, the magazine’s editorial team has revealed. The event, now in its 13^th year, mixes business and pleasure, and enables construction industry stakeholders to network and engage in friendly competition.

Registration is complementary but mandatory for regional consultants and contractors. The event will kick off on the day at 11am with registration and practice, and is scheduled to conclude by 6pm with the announcement of winners, followed by a buffet dinner and beverages. Individuals interested in participating in the event can register here – registrations are expected to close one week prior to the event.

“For the 2023 edition of the Big Project ME Golf Day, I’m pleased to announce that we have a new venue – the prestigious Arabian Ranches Golf Club. We look forward to welcoming old and new faces to this latest edition of our popular golf day as the first of Big Project’s many planned events for the new calendar year,” said Gavin Davids, Head of Editorial and Content at Big Project Middle East.

Previous editions of the industry event took place at a number of prestigious venues in Dubai including the Trump International Golf Club, Montgomerie Golf Club, and Emirates Golf Club.

Davids added that the highly anticipated industry event allows brands to cement existing relationships and generate new business contacts through a variety of exclusive and general sponsorship opportunities.

This year’s event is being supported by Kingspan Insulation and Mirage; commercial inquires around event sponsorship can be addressed to Raed Kaedbey at raed.kaedbey@cpitrademedia.com.

“We’re immensely proud of the ongoing success of the Big Project ME Golf Day – since its inception this event has always enjoyed a strong following and is consistently oversubscribed. It remains an effective and unmatched platform for individuals and brands to connect and network in a fun and relaxed way,” Davids concluded.

To learn more about the Big Project ME Golf Day, click here.

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Dubai Electricity and Water Authority (DEWA) has said that 58.4% of work has been completed on its US$387mn pumped-storage hydroelectric power plant, and that the project is on track for completion in Q4 2024.

In a statement, DEWA said that the 250MW Hatta Hydroelectric Power Plant is the first of its kind in the Gulf region, and that it would have a storage capacity of 1,500MW-hours, with a lifespan of up to 80 years.

Saeed Mohammed Al Tayer, MD & CEO of Dubai Electricity and Water Authority (DEWA) visited the power plant site to check the work progress. During the visit, Al Tayer was accompanied by Nasser Lootah, Executive Vice President of Generation; Mansoor Al Suwaidi, Vice President – Projects and Engineering (Generation); and Khalifa Al Badwawi, Project Manager, along with the project team.

Al Tayer inspected the construction site at the hydroelectric power plant, where he was briefed about the work progress. The visit also included the inspection of the power generator’s site and the upper dam, where the water intake in the Hatta Dam connected to the power generators has been completed.

In late December 2022, DEWA said it had begun construction of the $12.5m Hatta Sustainable Waterfalls project.

Construction of the 72m main Roller Compacted Concrete (RCC) wall of the upper dam has been completed. Al Tayer also inspected the work progress of the water tunnel, which is 1.2km long and connects the two dams. The concrete lining of the water tunnel is complete, DEWA noted.

Al Tayer highlighted the importance of the power plant as part of DEWA’s efforts to achieve the Dubai Clean Energy Strategy 2050 and the Dubai Net Zero Carbon Emissions Strategy 2050, which aims to provide 100% of Dubai’s total power production capacity from clean energy sources by 2050.

The project supports a comprehensive plan to develop Hatta and meet its social, economic, developmental, and environmental needs, in addition to providing innovative job opportunities for citizens in Hatta.

Al Tayer explained that the hydroelectric power plant in Hatta is part of the projects and initiatives launched by DEWA to diversify energy production from renewable and clean sources in Dubai. These include different available technologies such as solar photovoltaic panels, concentrated solar power, and green hydrogen production using renewable energy.

In early January 2023, Digital DEWA launched its first AI-driven cyber security system.

The hydroelectric power plant will be an energy storage facility with a turnaround efficiency of 78.9% that utilises the water stored in the upper dam, which is converted to kinetic energy during the flow of water through the 1.2km subterranean tunnel.

This kinetic energy rotates the turbines and converts mechanical energy to electrical energy which is sent to DEWA’s grid within 90 seconds in response to demand. To store energy, clean energy generated at the Mohammed bin Rashid Al Maktoum Solar Park will be used to pump the water through this tunnel back to the upper dam by converting the electrical power to kinetic energy making the whole project 100% renewable.

Later in January 2023, DEWA said over two million smart metres had been installed across Dubai.

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HASAS Real Estate, the property arm of Sharjah Islamic Bank (SIB), has begun work on its key freehold development, Khorfakkan Resort, and is due for completion by the end of 2025.

Billed as a first-of-its-kind freehold development, it will feature luxury apartments with a private beach on the eastern coast of Sharjah and provides views of the coast, mountain and waterfall in Khorfakkan. The project also includes retail, restaurants, recreational facilities distributed and is said to be coordinated with the highest standards of exterior design, to serve all apartments and provide strong visual aesthetics to the surroundings.

Announcing the sales launch next week, General Manager Ahmed Al Amiri said: “The project is aimed at making Khorfakkan city a popular destination for tourism and investment. Its unique architectural design is consistent with the geographical nature of its prominent strategic location between the beach and mountains on the eastern coast, to be a tourist destination that enriches the cultural and urban dimension of the city.

In late March 2022, Shurooq said that work on the $23mn Al Hira Beach Project was on track and, in July 2022, Shurooq revealed plans for a new adventure project in Khorfakkan.

He added, “Khorfakkan Resort offers an exceptional opportunity to own luxury residential units with a private beach on the beautiful coast of Khorfakkan, and to enjoy a package of entertainment features, which boost tourism and investment opportunities in the city of Khorfakkan and add value for investors.”

The project will include a basement floor, a ground floor, and two upper floors for parking lots, along with nine residential floors, he stated, adding all of the luxury apartments will be available at a special sales event on 9 January.

Al Amiri concluded, “Khorfakkan Resort represents a new addition to our investments. By applying our previous successes and expertise in real estate investment, we strive to continue to play an integral role in the real estate boom that the UAE is witnessing.”

In early September 2022, the University of Khorfakkan said it would develop a new residential complex.

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Dubai-based sustainable facilities management (FM) services group Imdaad has secured a three-year contract from Al Nasr Club Investment Company to provide a variety of solutions and services within its sports club and surrounding facilities.

Under the terms of the contract, Imdaad will deploy a full range of hard and soft services, and security solutions to help ensure efficient operations within Al Nasr Sports Club’s 169,869sqm facility.

Imdaad said the focus will be on providing integrated FM services to three stadiums and public amenities within the club, as well as its investment residential buildings – Al Nasr Plaza; Al Nasr Palace; Al Nasr 01; Al Nasr 02; Al Nasr – Central; Al Nasr – Square & Al Nasr Tagrouda. All these real estate projects are being managed by Harbour Real Estate.

For the project, Imdaad will be deploying a team of 50 soft services supervisors and operators, as well as 32 hard services personnel from its FM, electrical, electromechanical, HVAC, A/C and chiller, plumbing, and civil departments.

In early March 2022, Imdaad said it had secured its third major FM contract with Dubai Municipality.

The project’s scope of work includes seven buildings with a total of 94 shops, 810 apartments, 100 commercial units, as well as the stadiums and facilities within Al Nasr Football Club. In addition, Imdaad will also render various solutions including electrical and plumbing maintenance, A/C and chiller services, HVAC management, and cleaning services throughout the contract’s duration.

The agreement was penned into action during a signing ceremony held recently at Al Nasr Sports Club, in the presence of Mahmood Rasheed, Chief Operating Officer of Imdaad, and Mansoor Rahma Alfalasi, Chairman of Al Nasr Club Investment Company.

On the deal, Mansoor Rahma Al Falasi said that his company’s partnership with Imdaad reflects the group’s commitment to preserving the sustainability of the club’s assets and its facilities.

“We are delighted with this partnership which will provide us with advanced capabilities and distinguished services of high standards and excellent quality,” he noted.

In mid April 2022, the FM firm won a Dubai Municipality contract for the cleaning of the city’s industrial areas.

Imdaad COO Mahmood Rasheed concluded, “Imdaad has been focusing on expanding its presence in the UAE as part of its growth strategy. The new contract agreement with Al Nasr Club Investment Company to provide integrated FM services at Al Nasr Football Club and its surrounding facilities marks a significant step forward in our ongoing expansion journey.”

In late October 2022, Dubal Holding and Imdaad said they were co-investing in sustainable projects.

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Oman-based developer Muriya has unveiled a new waterfront residential resort project. Located within its flagship destination, Hawana Salalah, Amazi will be developed over an area of one million sqm and will feature luxury villas and residences that offer an “exquisite waterfront living proposition”.

According to the developer, which a joint venture between Oman Tourism Development Company (Omran) and Orascom Development Holding (ODH), Amazi will offer spectacular vistas juxtaposing turquoise waters and white sand beaches with breathtaking landscapes.

Each thoughtfully designed residence will capitalise on its prime location with access to an array of hotel resort-like amenities and personalised services that will make future residents feel like they are on a vacation, Muriya noted. The developer said it has appointed SB Architects to design the project.

Oman’s largest and fastest growing tourism destination, Hawana Salalah, boasts freehold homes, marinas, hotels, dining activities and more spread across 7km of beautiful sandy white beaches, it added.

In April 2022, Oman authorities announced $3.8bn worth of investment opportunities.

Tamer Dewidar at Orascom Development Holding pointed out that Amazi at Hawana Salalah was expected to deliver an effortless waterfront lifestyle. He explained, “The residences and villas will be ideal for holiday homeowners who want to celebrate the art of living, as well as visitors from the GCC and Europe looking for amazing curated experiences.”

Inspired by the natural beauty of Wadi Darbat in Salalah, Amazi will be reflective of its unique settings, Dewidar added.

He continued, “As part of our thoughtful, careful and imaginative planning and development, the world-class international architecture, our longstanding partner SB Architects led the conception of the superb collection of Amazi waterfront residences. The resort-style community will constitute multiple residential districts: Amazi Rise, situated on a natural hill; Amazi Cove, with canals surrounding all units; Amazi Islands, allowing for waterfront living on a ribbon of smaller connected islands; and Amazi Beach, offering oceanfront living just steps from the white sand beach,” stated Dewidar.

“In addition, the residences are particularly appealing to investors and buyers expecting long-term and high-yield returns while acquiring Oman’s residency,” he remarked.

In mid July 2022, Muriya launched a residential development in Hawana Salalah.

Seif El Khouly, Chief Development Officer, at Muriya said the developer’s main focus is to develop low density properties and openness for all units, allowing the best experience possible, while keeping an eye out for complete privacy and connectivity.

He concluded, “Our designers used the natural beauty and elements of Oman to blend handcrafted designs that combine both contemporary and traditional architecture into a timeless functional design, integrating indoor and outdoor living using wrap around pools and elegant arches to accentuate that experience.”

In mid August 2022, it was announced that Oman’s $175mn Botanic Garden was on track for completion in 2023.

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Bahrain’s Ministry of Housing and Urban Planning (MoHUP) has invited three tenders from leading developers to provide design and construction services for a total of 771 residential units under the Government Land Development Programme.

In a statement, the ministry said that the majority of the homes – 491 – will be developed under the Madinat Salman Project, with the first tender issued for a set of 360 residential units, and the second for 131 units. Each will be developed on a 25,000sqm area, it added.

The third tender was floated for the construction of a total of 280 housing units under the Madinat Khalifa Project, which will be built on a 50,000sqm area.

In mid November 2022, the Four Seasons and Bayside Developments launched the Four Seasons Private Residences Bahrain Bay.

As per the tender notification, the winning bidders will be responsible for the design, construction, and funding of all residential units, as well as the hard and soft landscaping services within the project and related secondary infrastructure works.

Once the project has been completed, the developer will pay MoHUP an agreed land value, while MoHUP will provide a buy-back arrangement for units unsold after a sale period of 24 months. The project company will sell these units commercially to Mazaya and social housing loan-eligible beneficiaries, the statement continued.

Amna bint Ahmed Al Rumaihi, Minister of Housing and Urban Planning, confirmed that her ministry had allocated three land plots for the development of 771 housing units and apartments in partnership with the private sector.

In late November 2022, Bahrain said it would invest $312mn into new education facilities by 2030.

The minister indicated that last date for submitting the bids for the development of lands allocated for residential apartments will end on 1 March 2023, while the date for submitting bids for the development of lands allocated for residential units ends on 5 March.

“These projects represent the first phase of the government land rights development programme, which includes in its master plan a timetable for the development of 19,000 housing units in partnership with the private sector, at a total investment value of US $2.67bn, noting that all units of these projects will be at competitive prices,” stated Al Rumaihi.

She pointed out that with the launch of the first package of the government land development rights programme projects, the ministry would have started a new phase in the path of strengthening partnership with the private sector to develop social housing projects in the Kingdom.

In late December 2021, it was announced that work on the $185mn expansion of the King Faisal Corniche and The Avenues project in Bahrain set for early 2024 completion.

This is in line with the approach of the Government of the Kingdom of Bahrain and Bahrain’s Economic Vision 2030, she concluded.

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The Saudi Power Procurement Company (SPPC) has said that it plans to re-tender two independent power projects in Saudi Arabia. The state-owned entity is responsible for planning and putting forward projects to generate electricity in the Kingdom.

In a statement, SPPC said that the projects – Taiba and Qassim IPP – will each have a 3.6GW capacity. It added that all previously qualified developers will automatically be included for the new projects, while other interested participants can submit their bids. The requests for proposals (RFPs) will be issued to qualified applicants on January 20, 2023, it noted.

The statement highlighted that both facilities will feature carbon capture and sequestration (CCS) readiness mechanisms, in alignment with KSA’s Saudi Green Initiative and its stated greenhouse gases (GHGs) Net Zero ambition by 2060. This will be achieved through the deployment of technologies for a circular carbon economy approach, it continued.

In early March 2022, Acwa Power and SPPC inked a deal to develop 700MW solar project.

The projects will introduce the developer’s ability to implement CCS or other potential solutions to address GHGs emissions when deemed feasible, allowing for greater participation of developers, EPCs, and Original Equipment Manufacturers (OEMs), and will drive further local content and value-added to the Kingdom, it explained.

As per the deal, SPPC will be re-tendering the two projects into four smaller combined cycle power projects of 1,800MW capacity, each with provision for CCS readiness.

The Saudi Power Procurement Company was fully nationalised in August 2022, by the Saudi Ministries of Finance and Energy, after they bought up shares in one of the firm’s subsidiaries. The Ministries said that the Kingdom’s government had bought up Saudi Electricity Company, which meant that SPPC is now wholly owned by the state.

In early June 2022, Acwa Power inked a PPA with SPPC for a new $107mn solar PV plant.

The move comes as part of the country’s plans to restructure its electricity sector and introduce financial and organisational reforms. SPPC will be responsible for planning and putting forward projects to generate the Kingdom’s required electric power.

It will also be responsible for concluding electric power purchase and wholesale agreements, developing energy trading markets and purchasing fuel for the company. Furthermore, the company will contribute to achieving the objectives of an optimal energy mix, displacement of liquid fuels and raising of the level of environmental compliance.

Finally, it will also encourage internal and external investments, increase the percentage of localisation, and ensure the security and reliability of supplies at lower costs.

In late September 2022, SPPC revealed plans for five renewable energy projects across Saudi Arabia.

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