Dubai’s Roads and Transport Authority (RTA) has announced the launch of the Al Safa Street Improvement Project, a key infrastructure upgrade aimed at improving traffic flow, supporting urban growth, and enhancing overall quality of life in one of Dubai’s most vibrant districts.

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The project extends over a 1,500-metre stretch of Al Safa Street, from its intersection with Sheikh Zayed Road to its junction with Al Wasl Street. It forms a core part of RTA’s broader master plan to modernise the city’s transport infrastructure in line with Dubai’s rapid population growth and urban expansion, a WAM report said.

Bridges, tunnels, and a traffic revolution

The ambitious development includes the construction of two new bridges and two tunnels, totalling 3,120 metres in combined length. It will also see the widening of surface roads, upgraded intersections, and the installation of advanced traffic signal systems.

Once completed, the improvements will significantly cut travel times on Al Safa Street—from 12 minutes to just 3 minutes—and will double traffic capacity from 6,000 to 12,000 vehicles per hour in both directions.

Mattar Al Tayer, Director General and Chairman of the Board of Executive Directors of RTA, said the project is a key component of a wider strategy to overhaul the surrounding road network.

“Al Safa Street Improvement Project is part of RTA’s master plan to enhance the road network in the area, including the development of Umm Suqeim and Al Wasl Streets,” he said.

Supporting a thriving urban hub

The upgraded route passes through one of Dubai’s busiest districts, home to major destinations such as City Walk, Coca-Cola Arena, top-tier schools, residential communities, and luxury hotels.

Al Tayer noted that the project enhances access to Downtown Dubai and connects with Financial Centre Street, an area inhabited by over one million residents.

“This district hosts a variety of tourism, cultural, and sporting events,” he added. “It’s essential that we support it with infrastructure that enables fluid movement and sustainable growth.”

Design that blends efficiency with aesthetics

Beyond functional upgrades, the project places strong emphasis on aesthetic and community-centric features. Plans include dedicated pedestrian walkways, cycling tracks, and vibrant urban spaces designed to promote interaction and enrich the public realm. Landscaping will also be integrated to soften the urban environment and improve livability.

Key infrastructure features

According to Al Tayer, the development encompasses the following major construction elements:

• Bridge 1: A four-lane bridge measuring 1,005 metres will serve traffic coming from Al Wasl Street toward Sheikh Zayed Road and Financial Centre Street. It will have an estimated capacity of 6,400 vehicles per hour.
• Bridge 2: This two-lane, 360-metre bridge will facilitate traffic from Al Satwa Road to Sheikh Zayed Road and Financial Centre Street. Capacity is estimated at 2,800 vehicles per hour.
• Tunnel 1: Spanning 1,005 metres with two lanes, this tunnel will support traffic moving from Sheikh Zayed Road and Financial Centre Street toward Al Wasl Street. It will handle 3,200 vehicles per hour.
• Tunnel 2: Located at the intersection of Al Wasl and Al Safa Streets, the 750-metre tunnel will feature two lanes in each direction and accommodate a total of 6,400 vehicles per hour.

In addition, Al Safa Street will be widened from three signalized lanes in each direction to four lanes, two of which will allow free-flow traffic and two controlled by signals.

Beyond the asphalt: Lighting, drainage, and utilities

The project also includes:

• Upgraded lighting systems
• Directional signage
• Rainwater drainage infrastructure
• Relocation and protection of utilities

These enhancements will contribute to a safer, more efficient roadway while maintaining service continuity for surrounding developments.

Part of a larger network upgrade

The Al Safa Street project is one piece of a multi-phase plan by RTA to transform Dubai’s arterial corridors.

Al Wasl Street overhaul

Spanning 15 km from Umm Suqeim Street to 2nd December Street, the Al Wasl Street Development Project will include:

• Six upgraded intersections
• Five new tunnels totaling 3,850 metres
• Widening the road from two to three lanes per direction
• Travel time reduction of 50 per cent
• Capacity increase from 8,000 to 12,000 vehicles per hour

Umm Suqeim Street expansion

Stretching 6 km from Jumeirah Street to Al Khail Road, this project will:

• Upgrade six major intersections
• Add four bridges and three tunnels with a total length of 4,100 metres
• Increase road capacity to 16,000 vehicles per hour
• Reduce travel time between Jumeirah and Al Khail Roads from 20 minutes to 6 minutes

Al Tayer emphasised that these interconnected projects will significantly improve connectivity between Sheikh Zayed Road, Al Khail Road, Sheikh Mohammed bin Zayed Road, and Emirates Road.

“This network will meet current and future demands while promoting safety, efficiency, and sustainability across Dubai’s road system,” he said.

UAE-based district cooling company Tabreed and global investment firm CVC’s infrastructure strategy (CVC DIF) have agreed to acquire Abu Dhabi’s PAL Cooling Holding from Multiply Group in a deal valued at approximately Dhs3.8bn, the companies said in a joint statement.

The acquisition includes eight long-term concessions serviced by five district cooling plants in Abu Dhabi, with an expected connected load of around 600,000 refrigeration tons once ongoing and planned plants are completed. The deal remains subject to regulatory approvals.

Founded in 2006, PAL Cooling is a key player in the UAE’s district cooling sector, working with major developers such as Aldar Properties, Modon and Imkan.

Its assets are concentrated in strategic areas like Al Reem Island, now part of the ADGM free zone.

“The acquisition of PAL Cooling with CVC DIF aligns perfectly with our strategic objectives and readiness to adapt to Abu Dhabi’s ambitious real estate projects,” said Dr Bakheet Al Katheeri, chairman of Tabreed. “These steps position us to meet the UAE’s rising demand for sustainable cooling, driven by population growth and decarbonisation targets.”

CVC DIF managing partner Gijs Voskuyl called the acquisition a “high-quality investment” with the potential to deliver long-term growth and returns. “PAL Cooling services its clients under long-term, concession-based contracts, in a fast-growing urban environment,” he added.

Pivotal acquisition for Tabreed’s portfolio

Tabreed CEO Khalid Al Marzooqi described the acquisition as pivotal: “As part of Tabreed’s portfolio, these additional plants will be operated and maintained by the world’s leading experts in sustainable cooling.”

Özgür Önder, head of CVC Middle East, said the partnership with Tabreed reflects CVC’s commitment to investing in sustainable, mission-critical infrastructure across the UAE.

Multiply Group CEO Samia Bouazza said the transaction supports its strategy of portfolio optimisation and liquidity enhancement. “It reflects our ability to realise significant value from our assets while enhancing liquidity to fuel Multiply Group’s next phase of growth,” she said.

The agreement was signed during a ceremony in Abu Dhabi by executives from Multiply, Tabreed, and CVC DIF.

Oil prices fell on Monday as an easing of geopolitical risks in the Middle East and the prospect of another OPEC+ output hike in August improved supply expectations amid persistent uncertainty over the outlook for global demand.

Brent crude futures LCOc1 fell 13 cents, or 0.19 per cent, to $67.64 a barrel by 0344 GMT, ahead of the August contract’s expiry later on Monday. The more active September contract LCOc2 was at $66.62, down 18 cents.

Read-Saudi Arabia ready for multiple oil price scenarios, economy minister says

US West Texas Intermediate crude CLc1 dropped 32 cents, or 0.49 per cent, to $65.2 a barrel.

Last week, both benchmarks posted their biggest weekly decline since March 2023, but they are set to finish higher in June with a second consecutive monthly gain of more than 5 per cent.

A 12-day war that started with Israel targeting Iran’s nuclear facilities on June 13 pushed up Brent prices, which surged above $80 a barrel and then slumped to $67 after President Donald Trump announced an Iran-Israel ceasefire.

The market has stripped out most of the geopolitical risk premium built into the price following the Iran-Israel ceasefire, IG markets analyst Tony Sycamore said in a note.

Further weighing on the market, four delegates from OPEC+, which includes allies of the Organization of the Petroleum Exporting Countries, said the group was set to boost production by 411,000 barrels per day in August, following similar-sized output increases for May, June and July.

OPEC+ is set to meet on July 6 and this would be the fifth monthly increase since the group started unwinding production cuts in April.

However, bearish pressure from concerns over slower global oil demand, particularly from China, is likely to persist.

Uncertainty around global growth continues to cap prices, said Priyanka Sachdeva, senior market analyst at Phillip Nova.

China’s factory activity contracted for a third straight month in June, as weak domestic demand and faltering exports weighed on manufacturers amid US trade uncertainty.

In the US, the number of operating oil rigs, an indicator of future output, fell by six to 432 last week, the lowest level since October 2021, Baker Hughes said.

Saudi engineering and construction firm Red Sea International Co (RSI) announced that its board has agreed to pursue an initial public offering (IPO) for its subsidiary, Fundamental Installation for Electric Work Co (First Fix), subject to shareholder and regulatory approvals.

In a filing last week to Tadawul, RSI said the board approved the “material transaction” on June 23, marking a key milestone in the company’s broader strategy.

While RSI will retain its entire stake in First Fix, the IPO is being pursued due to the subsidiary’s strategic significance and anticipated market impact.

RSI noted that final execution hinges on receiving approval at a general assembly of its shareholders, a mandatory step before seeking the green light from the Capital Market Authority (CMA) and Tadawul. A circular detailing the transaction will follow regulatory clearance.

Earlier this month, on June 3, RSI appointed a special committee of three independent directors — Mohammed Al‑Munajjed, Lama Al‑Sulaiman and Hans‑Martin Stockmeier — to advise shareholders regarding the proposed IPO, the filing added.

“An invitation for a general assembly to vote on the significant transaction will be issued upon obtaining regulatory approval, along with a shareholders’ circular containing more transaction details,” RSI said.

Read: MENA region saw 14 IPOs valued at $2.1bn in Q1; Saudi leads the lot

Red Sea International’s largest operating units

First Fix, established in 2015, is one of RSI’s largest operating subsidiaries, specialising in mechanical, electrical and plumbing (MEP) contracting. It has executed over 190 projects across the Gulf Cooperation Council (GCC), supported by a workforce of more than 8,000.

RSI acquired a 51 per cent stake in the subsidiary in June 2023 for SAR544.2m ($145m), in a move designed to bolster its integrated construction capabilities.

The unit has since contributed substantially to RSI’s performance, delivering consistent financial and operational results, the firm said.

“The transaction is material given First Fix’s importance to RSI’s operations and the anticipated effect of the IPO on the subsidiary,” the company shared.

It added that the IPO process will comply with all regulatory procedures, including approvals from its shareholders, the Capital Market Authority, and Tadawul. “Any material developments will be announced in due course,” the filing said.