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ADGM unveils ‘Virtual Sell and Purchase Service’ for property sector

The platform is designed to reduce processing times while ensuring robust security and full regulatory compliance

Gulf Business
Gulf Business

17 April, 2025

ADGM unveils ‘Virtual Sell and Purchase Service’ for property sector
Image: ADGM

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Abu Dhabi Global Market (ADGM), the UAE capital’s international financial centre, has launched an innovative “Virtual Sell and Purchase” service for real estate transactions, aiming to revolutionise the way property is bought and sold in the region.

The digital-first service, a first of its kind in the real estate sector, allows buyers, sellers, and financial institutions to complete multiple steps in property transactions through a single, secure online platform.

What ADGM’s new service offers

By integrating three core procedures — discharge of mortgage, register a transfer, and register a mortgage — into one streamlined digital process, the platform significantly enhances transaction efficiency and user experience.

At the core of the new service is a virtual presence feature, enabling all stakeholders to participate in the transaction remotely, without the need for physical meetings or document exchanges.

The platform is designed to reduce processing times while ensuring robust security and full regulatory compliance.

Service rolled out on AccessRP

The service is being rolled out via ADGM’s digital property platform, AccessRP, developed in collaboration with strategic partner ADRES.

AccessRP supports a wide spectrum of real estate transactions, including buying, selling, off-plan developments, and mortgage management, offering end-to-end digital solutions for developers, property owners, and investors.

“The launch of the Virtual Sell and Purchase service marks a significant milestone in our ongoing efforts to enhance ease of doing business and reinforces customer experience in the real estate sector,” said Hamad Sayah Al Mazrouei, CEO of the Registration Authority at ADGM. “We are not only making services simpler and faster, but we are also redefining what a real estate journey should look like in a modern, digital economy.”

Dubai Marathon opens registration for 25th edition

Dubai Marathon’s 25th edition is set to take place on February 1, 2026.

Gulf Business
Gulf Business

17 April, 2025

Dubai Marathon opens registration for 25th edition
Image: Dubai Media Office

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Dubai Marathon has officially opened registration for the race’s landmark 25th edition, set to take place on February 1, 2026.

Supported by the Dubai Sports Council, the silver jubilee edition of the Middle East’s oldest international road race is expected to attract participants from more than 140 countries.

The 2026 Dubai Marathon will celebrate a quarter-century of elite competition and international participation, with special activities planned in the lead-up to race day.

Held on a flat and fast course known for producing world-class performances, the event remains a prominent fixture in Dubai’s sports calendar and among the top ten marathons globally.

The race was the first in the region to earn the prestigious Gold Label from World Athletics and has hosted several legendary athletes.

In 2008, Haile Gebrselassie ran the second-fastest marathon time in history during his debut appearance in Dubai, helping to elevate the marathon’s global status.

Dubai Marathon’s silver jubilee

Race Director Peter Connerton confirmed that preparations are already underway for the special anniversary. “In coordination with the Dubai Sports Council and other government partners, we are delighted to announce the opening of registration for the 25th Dubai Marathon,” he said. “To mark the silver jubilee, we are preparing a year-long series of special events leading up to race day.”

“Since the inaugural edition, the Dubai Marathon has steadily risen to the top tier of global road racing,” Connerton added. “Highlights such as the 2008 race featuring Haile Gebrselassie and the groundbreaking 2018 edition — where seven runners clocked sub-2:05 times — have cemented its place among the world’s most prestigious marathons.”

The 2026 edition will include a full 42.195 km marathon, a 10 km road race, and a 4km fun run, ensuring accessibility for runners of all levels.

Registration is available through the official website: www.dubaimarathon.org.

Platform for emerging talent

Recent editions have continued to spotlight emerging talent. In 2017, current Olympic champion Tamirat Tola won the men’s race, and in 2019, Ruth Chepngetich claimed victory in her marathon debut. Earlier this year, Ethiopia’s Boti Gelemeshu won the men’s title in 2:04:51, while Berdado Hirpa set a personal best to win the women’s race in 2:18:27 after a close contest with 2023 champion Dera Dida.

Ahmed Al Kamali, general coordinator of the Dubai Marathon, highlighted Dubai’s readiness to host global sporting events. “Dubai offers world-class facilities, a highly advanced transportation network, and diverse accommodation options, making it an ideal destination for international events,” he said. “The marathon plays a major role in promoting Dubai as a leading tourist and sports hub.”

“We look forward to welcoming runners from around the world as we celebrate the silver jubilee of the Dubai Marathon – the first international marathon in the Middle East,” Al Kamali added.

Read: Dubai’s growing role as a global sports, entertainment hub

Electric cab service: Here’s why India’s BluSmart’s has been suspended

With more than 8,000 taxis, it set up charging hubs in cities like New Delhi, Mumbai and Bengaluru to take on Uber and Ola

Reuters
Reuters

17 April, 2025

Electric cab service: Here’s why India’s BluSmart’s has been suspended
Image credit:blu-smart/Website

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Indian electric cab service BluSmart, seen as a rival to Uber, suspended services on Thursday, days after a market regulator’s investigation found a co-founder misused funds at an affiliate company and bought a luxury apartment with money allocated for electric vehicles.

Ride-Uber’s new ‘green’ feature helps riders track emissions

BluSmart rode India’s clean energy boom but its sudden suspension puts the livelihood of thousands of drivers at risk. With more than 8,000 taxis, it set up charging hubs in cities like New Delhi, Mumbai and Bengaluru to take on Uber and Ola, both ride-hailing services that largely use gasoline-powered fleets.

In an e-mail to customers on Thursday, BluSmart said: “We’ve decided to temporarily close bookings on the BluSmart app”, without giving any reasons.

Amid concerns expressed on social media about customer funds blocked in BluSmart wallets, the email said the company will only “initiate a refund within the next 90 days if services do not resume before then.”

BluSmart did not respond to Reuters queries. The company, backed by bp ventures, an arm of British oil giant BP BP.L, told Reuters in 2023 it had a 9 per cent market share in New Delhi.

India’s market regulator this week barred brothers Anmol and Puneet Jaggi from the stock market and ordered a forensic investigation of their listed solar energy company in Mumbai, Gensol, which used to procure electric vehicles and then lease them for the ride-hailing service.

Anmol Jaggi is one of several co-founders of BluSmart, and the managing director of Gensol.

There is “a complete breakdown of internal controls and corporate governance norms in Gensol … the fund diversion primarily occurred in the context of electric vehicle (EV) purchases intended for leasing to a related party,” the market regulator said in its order this week.

“Funds availed by Gensol as loans for procuring EVs were, through layered transactions, partly utilised for buying a high-end apartment in The Camellias, DLF,” it added, referring to one of India’s most expensive luxury apartment complexes.

Gensol has said it will comply with market regulator’s directives.

Abu Dhabi: Sheikh Khaled approves launch of HELM cluster

HELM is the third economic cluster launched by ADIO, following the SAVI and AGWA clusters

Gulf Business
Gulf Business

16 April, 2025

Abu Dhabi: Sheikh Khaled approves launch of HELM cluster
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Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Chairman of the Abu Dhabi Executive Council, launched of the Health, Endurance, Longevity, and Medicine (HELM) cluster, a major new initiative aimed at enhancing Abu Dhabi’s position as a global leader in life sciences and biotechnology.

The HELM cluster, developed by the Abu Dhabi Department of Economic Development, the Abu Dhabi Investment Office (ADIO), and the Department of Health – Abu Dhabi, will advance medical innovation, pharmaceutical manufacturing, and the development of advanced biotechnology.

The announcement was made during Abu Dhabi Global Health Week 2025.

HELM Cluster: An ecosystem for life sciences and biotech sectors

The cluster is intended to serve as an integrated platform for research, development, manufacturing, and commercialisation in biotechnology, new medicines, MedTech, and digital health solutions.

It will also support the creation of an AI ecosystem and attract global healthcare companies focused on medical technologies and genomics.

“Investing in medical innovation remains a national priority that continues to receive full support from the leadership,” said Sheikh Khaled. “This commitment is reflected in advancing healthcare projects that leverage cutting-edge biotechnology and AI solutions to enhance quality of life across society.”

Ahmed Jasim Al Zaabi, chairman of the Abu Dhabi Department of Economic Development, said the HELM cluster marks a transformational step in the emirate’s economic strategy. “The cluster will provide global and local stakeholders with a wide range of solutions, including access to cutting-edge technologies, world-class infrastructure and progressive regulatory frameworks,” he said.

“By creating a globally competitive life sciences hub, we are not only accelerating economic growth, but we are also ensuring that Abu Dhabi remains at the forefront of developing breakthrough technologies that will benefit humanity at large,” Al Zaabi added.

Mansoor Ibrahim Al Mansoori, chairman of the Department of Health – Abu Dhabi, added: “We are not just investing in infrastructure, we’re investing in human potential, in breakthroughs that will redefine longevity, and in solutions that will reach far beyond our borders. This is where innovation meets impact.”

The HELM cluster is projected to contribute more than Dhs94bn to Abu Dhabi’s GDP, attract investments exceeding Dhs42bn, and create approximately 30,000 jobs by 2045.

Badr Al-Olama, director general of ADIO, described the cluster as a game-changer for the life sciences industry. “This cluster is built to remove barriers, accelerate breakthroughs and create a seamless path from discovery to global impact,” he said. “More than an investment in healthcare, our cluster partners are investing in the future, providing innovators with the resources, partnerships and support they need to redefine medicine.”

Third cluster launched by ADIO

HELM is the third economic cluster launched by ADIO, following the Smart and Autonomous Vehicle Industries (SAVI) cluster in 2023 and the AgriFood Growth and Water Abundance (AGWA) cluster in 2024.

These initiatives aim to accelerate Abu Dhabi’s economic diversification and reinforce its role in shaping future industries.

ADQ, IHC and Modon launch Gridora to drive infrastructure projects

Operating under Modon Holding, Gridora will serve as a strategic platform to collaborate with specialist partners and capital providers

Neesha Salian
Neesha Salian

16 April, 2025

ADQ, IHC and Modon launch Gridora to drive infrastructure projects
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Abu Dhabi-based investment entities ADQ, International Holding Company (IHC), and Modon Holding have launched a new joint venture, Gridora, to drive the development and delivery of infrastructure projects across the UAE and beyond.

Operating under Modon Holding, Gridora will serve as a strategic platform to collaborate with specialist partners and capital providers, supporting private and public-private partnerships on large-scale infrastructure developments nationally, regionally and internationally.

The platform aims to accelerate project deployment by leveraging Modon Holding’s expertise in infrastructure and real estate development.

It will also streamline procurement and implementation processes for key infrastructure contracts, enhancing delivery capacity.

Structured around two core business lines — infrastructure projects and infrastructure investments — Gridora reflects the asset management and project origination strengths of its founding partners.

The dual model is designed to generate financial returns while addressing the scale and speed needed for infrastructure transformation.

Gridora is expected to add value throughout the full infrastructure lifecycle, from early planning to operational execution, unlocking opportunities for both fee-based income and long-term investment yields.

Gridora to boost public-private sector collaboration

The venture is strategically positioned to strengthen long-term public-private sector collaboration.

“Abu Dhabi’s thriving economy and growing population demand world-class infrastructure,” said Jassem Mohamed Bu Ataba Al Zaabi, chairman of Modon Holding. “By leveraging the collective expertise and resources of ADQ, IHC and Modon Holding, Gridora will become a local, regional, and international champion for infrastructure development and drive a step change in delivering strategic projects.”

Mohamed Hassan Alsuwaidi, MD and group CEO of ADQ, said the venture aligns with ADQ’s strategy as a long-term investor. “The establishment of Gridora exemplifies our commitment to design and enable transformative development for projects of strategic importance,” he said. “It is a reflection of our growing confidence to drive innovation and efficiency built for long-term impact for the emirate and beyond.”

Syed Basar Shueb, CEO of IHC, said Gridora supports IHC’s focus on scalable, innovative platforms. “We see strong potential in harnessing infrastructure investments to unlock new economic value, deepen private sector participation, and drive infrastructure-led growth across markets,” he said.

Modon Holding CEO Bill O’Regan added that the platform reinforces the company’s goal to create smart, connected cities. “Gridora will harness Modon Holding’s pioneering capabilities to channel expertise and capital into key projects and builds on Abu Dhabi’s proven framework for transformative infrastructure,” he said. “It will also open new revenue streams and long-term opportunities for Modon Holding and our partners.”

Read: IHC reports net profit of Dhs25.7bn in 2024

Dallas meets Dubai: Hoque Global, The First Group unveil Hotel Local

Hotel Local is the latest venture from Dallas-based Hoque Global, a firm known for redevelopment and revitalisation projects

Gulf Business
Gulf Business

16 April, 2025

Dallas meets Dubai: Hoque Global, The First Group unveil Hotel Local
Image: Supplied

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The First Group Hospitality and US-based Hoque Global have unveiled Hotel Local, a new community-centric lifestyle hotel located in Dubai’s Jumeirah Village Triangle (JVT).

The partnership signals the beginning of a broader rollout for Hotel Local, with further openings planned in the US and GCC.

The 579-room property introduces a neighbourhood-driven hospitality concept rooted in inclusivity, experiential living, and community building.

Rob Burns, CEO of The First Group., said: “Hotel Local is more than just a place to stay; it’s a vibrant social hub where guests and locals come together to connect, create, and experience Dubai in an authentic and immersive way.”

Mike Hoque, founder and CEO of Hoque Global, described the launch as the culmination of a vision built around community and education. “Our mission is to train and educate future talents in a world-class facility, cultivating empathetic leaders who will redefine hospitality service for generations to come. I couldn’t be prouder to launch Hotel Local here in Dubai, a city that represents the future of the world.”

Longtime hospitality executive and Hotel Local partner Dave Johnson added: “The JVT location and property are spectacular — a perfect embodiment of our vision for a community-centric lifestyle hotel. This marks just the beginning, and we look forward to expanding the brand worldwide.”

A community-first approach at Hotel Local

Hotel Local’s design and operations reflect its mission to offer guests the experience of the city “like a resident”.

In addition to modern rooms, the hotel features a rooftop pool, gym, spa, and social spaces. It also offers a shuttle to Soluna Restaurants & Beach Club on Palm Jumeirah, giving guests access to beachside dining and recreation.

Culinary offerings play a central role. Farmers Commons delivers a farm-to-table concept focused on local, sustainable produce, while Neighbourhood Brew serves as a multi-functional café and lounge space transitioning from artisanal morning brews to an evening social setting with drinks.

Programming includes pop-up collaborations, themed brunches, and community-driven events designed to foster interaction between locals and travellers.

Strategic expansion in the GCC and US

With six room formats catering to short- and long-term stays, Hotel Local targets business travellers, digital nomads, and families.

The launch aligns with The First Group Hospitality’s strategy to grow its presence in Dubai’s mid-to-upscale segment and Hoque Global’s ambition to build catalytic enterprises in real estate and beyond.

Hotel Local is the latest venture from Dallas-based Hoque Global, a firm known for redevelopment and revitalisation projects, and a commitment to economic impact and education.

The property is managed by The First Group Hospitality, which has built a portfolio of award-winning hotels and dining destinations across the region.

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