Construction

The results also reflect the effectiveness of the emirate’s long-term economic strategies, which continue to strengthen competitiveness, attract investment, and support sustainable growth

ALEC, a publicly listed UAE contractor, will be responsible for the full design, procurement and construction of the venue, which will feature advanced immersive technologies and integrated building systems

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Engineer Hamzeh Awwad, CEO of AJi Group, shares how the firm is reshaping the Gulf’s infrastructure landscape through innovation, sustainability, and smart design

Once completed, the venue is expected to host over 200 performances annually, spanning theatre, music, digital art, and international productions

The IPO, priced at Dhs1.40 per share, valued ALEC at Dhs7bn ($1.91bn) and attracted around Dhs30bn ($8.1bn) in orders, more than 21 times oversubscribed

The project signed with Mira Developments will include one of the region’s largest shopping malls, a business complex, hotels, world-class golf courses and educational institutions

Shares are expected to begin trading on the Dubai Financial Market (DFM) on or around October 15 under the symbol “ALEC”

The project builds on the developer’s philosophy of human-centered design, creating homes that promote wellness, community and long-term value

Since its IPO in March, the company has rewarded shareholders with over $300m through dividends and share buybacks, with total dividends increasing 20.7 per cent year-on-year to $51.8m