{"id":18684,"date":"2016-07-05T16:06:57","date_gmt":"2016-07-05T09:06:57","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/?p=18684"},"modified":"2016-07-05T14:21:42","modified_gmt":"2016-07-05T07:21:42","slug":"six-biggest-uae-business-stories-of-2016-so-far","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/six-biggest-uae-business-stories-of-2016-so-far\/","title":{"rendered":"Six biggest UAE business stories of 2016 so far"},"content":{"rendered":"


\nIt’s been a busy six months with massive stories breaking across many sectors in the UAE. newslideSultan Al Jaber takes the reins at AdnocThe UAE Minister of State, Sultan Al Jaber, was appointed to the role of chief executive of Abu Dhabi National Oil Company (Adnoc) by Ruler’s decree in February. Dr Al Jaber is also the chairman of the renewable energy firm Masdar and chief executive of energy at Mubadala. In May, he announced a new corporate regime at Adnoc as he moved to transform the culture, with changes at the top including Abdulaziz Abdulla Alhajri being named director of Adnoc’s refining and petrochemicals divi\u00adsion, and Omar Suwaina Al Suwaidi moving to lead the gas divi\u00adsion, having been deputy director of planning and strategy. \u2022 Read the full story here.newslideEmaar to build tower eclipsing Burj KhalifaIn April, the Dubai developer Emaar Properties unveiled plans for a mega-retail district at Dubai Creek which would also include a tower taller than the Burj Khalifa. Mohamed Alabbar, the Emaar chairman, later revealed that the tower would be 100 metres taller than Burj Khalifa, which stands at 828 metres, and work is now underway on the project. The development will have 2 kilometres of creekside waterfront and will house 679 million square metres of residential space, 851,000 sq metres of commercial property, 22 hotels with 4,400 rooms and 11.16 million sq metres of retail. By comparison, The Dubai Mall has an overall footprint of 1.1 million sq metres. The tower is set to be beaten in the height stakes by Saudi Arabia’s 1km Jeddah Tower, however, that has hit delays and is now due to complete at the end of 2019.\u2022 Take a closer look at The Tower at Dubai Creek Harbour here newslideAbu Dhabi expats to pay 3% municipal fee on home rentalsA new fee on expats in the capital was published in February’s Official Gazette. The new fee will be collected with monthly electricity and water bills, and will add about Dh5,000 to the cost of renting an average two-bedroom apartment. UAE nationals are exempt. This is similar to the levy in Dubai, only that is 5 per cent. Details emerged on the opening day of Cityscape Abu Dhabi in April, and NBAD later calculated that it could boost government revenue by as much as Dh612 million a year. \u2022 Read the full story herenewslideDubai breaks solar records Last month, Dubai announced that the third phase of its Mohammed bin Rashid Al Maktoum solar park had set a new benchmark for the industry at 2.99 US cents a kilowatt-hour. A Masdar-led consortium won the contract for the 800 megawatt phase at what will be the largest single-site solar project in the world with a planned capacity of 5,000MW by 2030. This is enough to power 800,000 homes with a total investment of Dh50 billion. The second phase, which totalled 200MW – and also saw a then world record broken at 5.84 cents per kWh from Saudi Arabia’s Acwa Power and its Spanish partner TSK. Dubai is looking to have 7 per cent of its total power output from clean energy sources in the next four years, followed by 25 per cent by 2030 and 75 per cent by 2050.\u2022 Abu Dhabi solar project could match Dubai record-low prices – read herenewslideIpic and Mubadala to mergeWe learnt just last week that the Abu Dhabi Government is to merge the two investment titans International Petroleum Investment Company (Ipic) and Mubadala Development Company. A joint committee headed by the Deputy Prime Minister Sheikh Mansour bin Zayed will be created and given the responsibility of merging the pair, state news agency Wam said. The combined entity will have assets of about US$135 billion, based on the latest financial reports from Mubadala and Ipic. Expect further details to emerge in the coming weeks and months.\u2022 Read the full story here\u2022 Read our analysis of the merger herenewslideNBAD and FGB to create mega bankThe first big merger of the year was also announced in June, when NBAD and FGB said they would join forces to create the biggest banking entity by assets in the Middle East. The past year has been tough for banks with many laying off employees because of a decline in business. More than 50 banks and financial institutions serve 9 million customers in the UAE, making it one of the most crowded banking markets in the region. A combination of NBAD and FGB will be the biggest banking merger in the UAE since Emirates Bank International and the National Bank of Dubai joined in 2007 to create Emirates NBD. The two banks unanimously voted to recommend to their shareholders the merger, it was said on Monday.\u2022 Read the full story here\u2022 Listen to our podcast on the merger herebusiness@thenational.aeFollow The National’s Business section on Twitter
\n
\nSource : thenational.ae
\nRead more…Six biggest UAE business stories of 2016 so far<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

It’s been a busy six months with massive stories breaking across many sectors in the...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-18684","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-4Rm","jetpack-related-posts":[{"id":92440,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/adnoc-saudi-aramco-to-partner-on-development-of-44bn-indian-mega-refinery\/","url_meta":{"origin":18684,"position":0},"title":"ADNOC, Saudi Aramco to partner on development of $44bn Indian mega refinery","date":"June 25, 2018","format":false,"excerpt":"\r First overseas refinery investment represents a key step in ADNOC's new international downstream strategy, said Dr Sultan Ahmed Al Jaber, UAE Minister of State and ADNOC Group CEO\r \r Source : arabianbusiness.com\r Read more...ADNOC, Saudi Aramco to partner on development of bn Indian mega refinery","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":160408,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/uaes-dr-al-jaber-voted-ceo-of-the-year-by-global-chemical-industry-peers\/","url_meta":{"origin":18684,"position":1},"title":"UAE\u2019s Dr Al Jaber voted CEO of the Year by global chemical industry peers","date":"September 3, 2025","format":false,"excerpt":"\r Dr Al Jaber is the UAE\u00a0Minister of Industry and Advanced Technology, and his leadership as President was critical in the country\u2019s successful hosting of the COP28\r \r Source : arabianbusiness.com\r Read more...UAE\u2019s Dr Al Jaber voted CEO of the Year by global chemical industry peers","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i2.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2025\/09\/His-Excellency-Dr.-Sultan-Ahmed-Al-Jaber-Minister-of-Industry-and-Advanced-Technology-and-Chairman-of-Emirates-Development-Bank-917x750-1.jpg?fit=917%2C750&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":132361,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/mubadala-uae-investments-chief-exits-to-join-adnoc\/","url_meta":{"origin":18684,"position":2},"title":"Mubadala UAE investments chief exits to join ADNOC","date":"December 5, 2022","format":false,"excerpt":"\r The sovereign wealth fund's deputy chief executive officer Waleed Al Mokarrab will replace Musabbeh Al Kaabi\r \r Source : arabianbusiness.com\r Read more...Mubadala UAE investments chief exits to join ADNOC","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i2.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2022\/12\/Musabbeh-Al-Kaabi-1000x667-1.jpg?fit=1000%2C667&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":156494,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/uae-and-china-deepen-100bn-trade-ties\/","url_meta":{"origin":18684,"position":3},"title":"UAE and China deepen $100bn trade ties","date":"June 26, 2025","format":false,"excerpt":"\r Dr. Sultan Al Jaber leads UAE delegation to China as $100bn trade partnership expands\r \r Source : arabianbusiness.com\r Read more...UAE and China deepen 0bn trade ties","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i2.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2025\/06\/UAE-China-trade-1000x682-1.jpg?fit=1000%2C682&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":153615,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/adnoc-announces-deals-to-unlock-60bn-of-us-investment-in-uae-energy-projects\/","url_meta":{"origin":18684,"position":4},"title":"ADNOC announces deals to unlock $60bn of US investment in UAE energy projects","date":"May 16, 2025","format":false,"excerpt":"\r The enterprise value of UAE energy investments into the US is set to reach $440bn by 2035\r \r Source : arabianbusiness.com\r Read more...ADNOC announces deals to unlock bn of US investment in UAE energy projects","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2025\/05\/ADNOC-1000x667-1.jpg?fit=1000%2C667&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":164717,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/adnoc-launches-autonomous-drone-project-to-cut-emergency-response-times-across-uae-energy-sites\/","url_meta":{"origin":18684,"position":5},"title":"ADNOC launches autonomous drone project to cut emergency response times across UAE energy sites","date":"November 13, 2025","format":false,"excerpt":"\r In a first for the region\u2019s energy sector, ADNOC teams up with Abu Dhabi\u2019s Technology Innovation Institute and ASPIRE to pilot swarm-based drones that deliver real-time crisis intelligence The post ADNOC launches autonomous drone project to cut emergency response times across UAE energy sites appeared first on Arabian Business:\u2026","rel":"","context":"In "Property 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