Latest Threads

Union Properties has commenced construction on its AED 2 billion "Takaya" project in Dubai Motor City. This mixed-use development spans 436,175 square feet and includes three residential towers with 788 luxury units, ranging from studios to villas, alongside a 500-meter shopping boulevard. The project aims to redefine urban living in the mid-to-high range segment with modern amenities and upscale environments. The ground-breaking ceremony took place on December 20, 2024, attended by key figures from Union Properties, highlighting the company's commitment to supporting the UAE's real estate industry and contributing to Dubai's sustainable growth. The foundational work is expected to be completed in six months.

A Board of Directors meeting for Watania International Holding (PJSC) is scheduled for Thursday, December 26, 2024, at 1:00 PM. The agenda includes reviewing the company's budget for the financial year 2025, considering the procurement of Islamic credit facilities from Emirates NBD Bank, and discussing routine business matters. The notification is issued by Nawal Ma’ally, the Board Secretary, on December 23, 2024.

Al Salam Bank recently organized a workshop at its headquarters in Manama, Bahrain, to celebrate Bahraini Women’s Day under the theme “Partners in Progress.” The event gathered female leaders, entrepreneurs, and professionals from various sectors to highlight women's contributions to Bahrain's development. The workshop included speeches from the “Qaedat” program, panel discussions on empowering women in the workplace, and interactive sessions to enhance skills and confidence. Participants also had networking opportunities. Mrs. Muna Al Balooshi, Head of Human Resources and Administration, emphasized the bank's commitment to supporting female talent and fostering an inclusive environment. The workshop concluded with a pledge to support gender equality and women's empowerment, with Al Salam Bank reaffirming its dedication to an inclusive and prosperous future for Bahrain.

The Dubai Financial Market (DFM) released a weekly summary of regulated short sell transactions for the period from December 16 to December 20, 2024. The report includes details on short sell trade volumes and values for specific securities, including Emirates NBD PJSC, Parkin Company PJSC, and Emaar Properties PJSC. Emirates NBD PJSC had two separate trades with volumes of 150 and 15, valued at AED 3,232.50 and AED 308.25, respectively. Parkin Company PJSC had a trade volume of 4,700 with a value of AED 58,985.00, and Emaar Properties PJSC had a trade volume of 2 with a value of AED 24.70. For more information on regulated short selling, refer to the DFM Market Rules and related documents available on their website. The announcement can be accessed online, and it includes a disclaimer noting that the information is subject to change and the DFM is not liable for any losses incurred from using the data provided.

Sukoon Insurance PJSC has announced the opening of nominations for its Board of Directors from December 23, 2024, at 8 am to January 7, 2025, at 6 pm. Shareholders who meet the eligibility criteria can apply for board membership by submitting an application to the company's main headquarters in Deira, Dubai. The application should include a brief introduction and the type of membership sought (executive, non-executive, or independent). Seven board members will be elected, and nominations will remain open for at least ten days, in line with governance regulations. Candidates must comply with relevant legal and company requirements, and necessary documents will be available on the company's website. Once nominations close, candidates cannot transfer their candidacy to others. The names and details of candidates will be published on the company's bulletin board and website on February 25, 2024, and shared with the Securities & Commodities Authority and the Market.

Shuaa Capital PSC, an investment company licensed and regulated by the Securities and Commodities Authority, has announced that its Board of Directors approved an agreement with the company's main creditor. This agreement involves restructuring a loan of 208 million dirhams, including a temporary 12-month exemption from principal repayments, followed by adjustments and extensions to the existing loan and its associated principal repayments. More details can be found in the press release on the Dubai Financial Market's website.