International Holding Company (IHC) has posted a 41.1 per cent year-on-year jump in revenue to Dhs27.2bn in Q1 2025, driven by strong performance across its core verticals.

The group’s profit after tax reached Dhs4.1 bn, with a net profit margin of 15.2 per cent.

“Our Q1 2025 performance reinforces the strength of IHC’s diversified model and the growing impact of our strategic investments across global markets,” said Syed Basar Shueb, CEO of IHC. “As we expanded our portfolio, we continued to drive improved operational performance and enhance recurring revenue streams, ensuring resilience and stability across our business segments.”

Total assets rose to Dhs416.6bn as of March 31, up from Dhs 401.8 bn at the end of 2024, reflecting IHC’s disciplined capital allocation and strategic expansion.

Return on equity stood at 9.9 per cent, underscoring the company’s sustained value creation.

Real estate and hospitality sectors lead revenue growth for IHC

Revenue growth was led by the real estate segment, which surged 53.3 per cent year-on-year and contributed 42.5 per cent of total revenue.

The growth was driven by robust demand for existing inventory and the successful launch of new projects. The marine and dredging segment delivered an 18.0 per cent rise in revenue, backed by increased project activity and international diversification.

Hospitality and leisure also recorded exceptional performance with a 96.6 per cent rise in revenue, reflecting higher occupancy rates and strong demand across key assets.

Real estate and construction assets grew 4.9 per cent to Dhs170.7bn year-on-year, supporting IHC’s continued expansion strategy in this high-growth sector.

“Beyond delivering strong financial results, we are shaping the industries of tomorrow through dynamic value networks,” Shueb added. “By connecting innovative businesses, strategic partnerships, and operational excellence, we are building a platform designed for sustained global relevance. IHC remains committed to being a catalyst for economic growth and innovation, while delivering long-term value to our shareholders and stakeholders worldwide.”

IHC said it remains well-positioned to seize emerging market opportunities, supported by its dynamic investment strategy, operational resilience, and commitment to sustainable global growth.

Strategic highlights: At a glance

1. Multiply Group acquired a 67.91 per cent stake in Spanish fashion retailer Tendam, strengthening IHC’s global apparel footprint.
2. Gridora Infrastructure Platform, joint venture with ADQ and Modon Holding, launched to drive large-scale infrastructure projects in the UAE and abroad.
3. Alpha Dhabi increased ownership in National Corporation for Tourism & Hotels (NCTH) to 73.7 per cent, consolidating premium hotel assets.
4. IHC, ADQ, and First Abu Dhabi Bank partnered to launch a UAE Dirham-backed stablecoin to promote blockchain innovation and digital payments.
5. Modon Holding entered the UK market through a 50 per cent joint venture in the 2 Finsbury Avenue development.
6. Al Ain Farms sgned a Dhs85m agreement to acquire Al Jazira Poultry Farm, enhancing its market share in the UAE.
7. PureHealth acquired a 60 per cent stake in Hellenic Healthcare Group, Greece’s largest private healthcare provider, for $2.3bn.
8. MoU signed with Lunate to explore enrolling employees in the Ghaf Benefits plan, reflecting IHC’s focus on human capital.
9. IHC led a delegation of subsidiaries at the World Economic Forum to foster strategic international partnerships.

Dubai’s RTA has informed drivers of expected delays on Emirates Road towards Sharjah due to maintenance and rehabilitation works. The affected area is between Dubai-Al Ain Road and the Al Amardhi-Al Awir Road intersection, with disruptions occurring on weekends from 5:00pm to 8:00pm.

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The delays are expected to continue until August 30, 2025. The RTA advises drivers to plan their journeys in advance to ensure timely arrival.

As part of its ongoing efforts to enhance traffic flow across Dubai, the RTA has upgraded the traffic light system at the intersection of Al Doha and Halab Streets. The improvements include the addition of a new lane on Al Doha Street—boosting road capacity and enabling smoother movement through the signal.

The authority has also developed 200 parking spaces to serve the Community Development Authority in Hatta and constructed a temporary gravel road from the Makan district towards the Hatta-Dubai Road. Traffic flow has also been improved at the intersections of King Salman Street with Braih and Al Gharbi Streets in the Jumeirah Beach Residence area, allowing the tram to operate at traffic signals while maintaining smooth vehicle movement.

Additional parking spaces have been provided at Emirates National School, Al Khawaneej. Motorists can also find a new lane on Dubai-Al Ain Road towards Dubai, beneath the Hind City Bridge.

Since its establishment in 2004, the Abu Dhabi Festival has evolved into one of the Arab world’s leading cultural institutions.

Organised by the Abu Dhabi Music & Arts Foundation (ADMAF), the festival is more than an annual event – it is a year-round movement advancing creativity, education, and cultural exchange.

At the heart of the festival is a belief in the transformative power of the arts – to transcend borders, spark dialogue, and inspire future generations. “What drives the Abu Dhabi Festival is the belief that art speaks a universal language. It’s about building bridges and sparking dialogue,” said a representative from ADMAF.

Championing creativity and cultural diplomacy

Over the years, the festival has hosted the world’s most celebrated orchestras, performers, and creators. However, its impact lies not only in memorable world premieres, but also in the way it balances global ambition with local authenticity.

Each edition is curated to blend tradition with innovation, with partnerships that generate cultural, educational, and social impact.

The 2025 edition reinforced the festival’s mission by delivering a rich programme of performances, partnerships, and initiatives that continue to position Abu Dhabi as a global arts capital. While the headline shows ended last week, the festival will continue engaging with the community.

A memorable edition

This year, the 22nd edition of the Abu Dhabi Festival featured exceptional, blending world-class performances with a strong educational and community impact under the inspiring theme ‘Abu Dhabi – A World of Harmony’.

Celebrating over 50 years of friendship and diplomatic relations between the UAE and country of honour Japan, the festival featured a breathtaking performance by Japanese taiko drumming troupe Kodo and the UAE debut of pianist Yunchan Lim, whose rendition of the Goldberg Variations left audiences in awe.

Other highlights included performances by Katia and Marielle Labèque, percussionist Kuniko Kato, and an All-Star Ballet Gala with dancers from the Royal Ballet and Paris Opera Ballet.

Beyond the stage, the festival’s Outreach Programme engaged more than 1,700 students through open rehearsals and school visits by the artists, offering rare, up-close moments where global artistry connected with local youth. It will continue its activities though the year.

These encounters reflected the festival’s enduring commitment to empowering the next generation through direct cultural engagement.

Abroad Programme extends global reach

Among the festival’s flagship initiatives is the Abroad Programme, which builds partnerships with international cultural institutions while promoting Arab creativity on global stages.

Another highlight was the co-production of Pelléas et Mélisande with the Opéra National de Paris – a milestone in cultural diplomacy and the first of its kind between a Middle Eastern entity and the Paris Opera.

Directed by acclaimed playwright Wajdi Mouawad, the production ran from February 28 to March 27 and attracted more than 22,000 attendees. It reflected the festival’s growing influence as a cultural ambassador and bridge-builder between East and West.

Education and empowerment at the core

The Abu Dhabi Festival has also embedded education into its cultural mission, forging long-term partnerships to empower emerging talent.

The Dolce & Gabbana x ADMAF Award offered talented young Emiratis six-month internships at the Italian fashion house’s headquarters, providing hands-on experience in haute couture. “This is about more than exposure. It’s about building skills, confidence, and cultural fluency,” the ADMAF team said.

A separate partnership with TotalEnergies supported sustainability-themed competitions and education initiatives, challenging students to merge environmental awareness with artistic expression – aligning with ADMAF’s commitment to nurturing culturally and socially conscious leaders.

Abu Dhabi Festival: Local talent, global platforms

At home, the festival continues to foster young creatives through initiatives like the Young Media Leaders programme, launched in 2007.

Emirati students and graduates are introduced to journalism, broadcasting, and digital content through immersive workshops and mentorships. “It’s not just a training ground, it’s a launchpad for future storytellers,” ADMAF said.

The programme is closely tied to the Artist’s Studio series, which gives participants the opportunity to interview global artists and share their insights with wider audiences – extending the festival’s reach beyond its performances.

New initiatives aimed at younger audiences have also emerged. My First Concert introduces classical music to children under four, while Symphony Storytelling brings books and narratives to life through orchestral music.

These programmes, ADMAF said, help build empathy, imagination, and language skills, nurturing emotionally intelligent future leaders regardless of whether they pursue careers in the arts.

A hallmark of the Abu Dhabi Festival is its dual focus on showcasing global excellence while championing regional talent.

Programmes like the Composers’ Platform and long-term commissions have provided UAE-based and Arab artists with opportunities to present original work alongside international counterparts. “We’re not just showcasing culture; we’re shaping it,” ADMAF affirmed.

Year-round impact

While the annual festival remains the centrepiece, its influence continues year-round through educational initiatives, international collaborations, and mentorships that advance the UAE’s position as a cultural and creative capital.

As the festival grows, it remains committed to a singular vision: to inspire, connect, and empower through the universal language of the arts.

Kuwait has announced the suspension of work and the declaration of a public holiday across all state bodies and public institutions from June 5 to 9 in observance of the Islamic Eid Al Adha holiday, the cabinet said on April 29.

Government employees will return to work on Tuesday, June 10, a Kuwait News Agency report said.

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However, workplaces of an “unconventional” nature may determine their holiday schedules at their own discretion, the cabinet noted during its weekly session, which was chaired by Acting Prime Minister and Interior Minister Sheikh Fahad Yusuf Al Sabah.

According to the official website of UAE legislation, public holidays in the UAE will be observed on the Day of Arafah (9 Dhul Hijjah) and from 10 to 12 Dhul Hijjah for Eid Al Adha.

WeRide and Uber Technologies announced on Tuesday an expansion of their strategic partnership to deploy autonomous vehicles in 15 additional cities over the next five years, marking one of the largest collaborations of its kind in the sector.

The rollout, which includes cities across multiple continents including Europe, will build on successful pilots in Abu Dhabi and an imminent launch in Dubai. The companies confirmed that all new markets will be outside the US and China.

Under the partnership, WeRide will provide its Robotaxi technology, while Uber will manage fleet operations.

The services will be accessible via the Uber app in each city.

Uber and WeRide eye global expansion

“We are excited to take our partnership with Uber to new heights,” said Tony Han, founder and CEO of WeRide. “This expansion aligns with WeRide’s ambitious strategy for global growth – to make autonomous driving solutions more affordable and accessible to people worldwide.”

Uber CEO Dara Khosrowshahi said the agreement represents “a significant milestone towards realising the promise of autonomous mobility in more places around the world,” and highlighted the role of Uber’s global scale and operational expertise in commercialising autonomous vehicle technology.

The announcement reinforces both companies’ shared vision of accelerating the global adoption of autonomous transportation solutions.