UAE’s ADNOC Gas said on Thursday it had awarded three contracts worth about $2.1bn for an LNG pre-conditioning plant (LPP), compression facilities and transmission pipelines to supply feedstock to the Ruwais LNG Project.

The Ruwais LNG plant will more than double ADNOC’s current 6 million tonnes per annum (mtpa) LNG capacity to over 15 mtpa, leveraging artificial intelligence (AI) and other innovative technologies to enhance safety, minimise emissions and drive efficiency.

The contracts were awarded to a consortium consisting of Engineering for the Petroleum and Process Industries (ENPPI) and Petrojet ($1.24bn for the LPP), China Petroleum Pipeline Engineering Company ($514m for transmission pipelines) and Petrofac Emirates ($335m for the development of new compression facilities).

“We are investing in world-class infrastructure and innovative technologies as we expand our capacity in LNG liquefaction and strengthen our position as a global player,” said Fatema Al Nuaimi, the CEO of ADNOC Gas.

The LPP and compression facilities will be located within ADNOC Gas’ Habshan 5 plant. The newly awarded transmission pipelines will connect the Habshan Complex with the Ruwais LNG facility.

ADNOC Gas said that the investments in the LPP, compression facilities, and transmission pipelines are not included in the capital expenditures (CAPEX) previously announced for its planned acquisition of ADNOC’s majority stake in the Ruwais LNG project.

However, the three contracts are part of the $15bn CAPEX that ADNOC Gas plans to invest through 2029.

The Ruwais LNG plant will more than double ADNOC Gas’ LNG production capacity to more than 15 mtpa once operational. The export facility will feature two liquefaction trains, each with a processing capacity of 4.8 mtpa, powered by clean grid electricity – a first in the Middle East region.

To date, more than seven mtpa of Ruwais LNG project’s production capacity has been committed to international customers through long-term agreements. ADNOC Gas has existing LNG supply deals with Germany’s EnBW, Japan Petroleum Exploration Company, TotalEnergies Gas and Power, and India Oil Corporation.

Meanwhile, ADNOC Group said that it sees significant value in a further ADNOC Gas share sale after a media report last November said the UAE energy giant was considering selling an additional 3-5 per cent stake sale in its gas unit.

The state-owned energy major said ADNOC Gas’ value could be enhanced by inclusion in wider market indexes and with a broader shareholder base.

Read: UAE’s ADNOC Gas boosts capex to $15bn on booming LNG market

Longevity has become a 21st-century imperative. Today, few challenges rival the urgency and complexity of ageing populations.

The pursuit of extending healthspan through advancements in biomedicine, technology, and progressive governance, is no longer a niche scientific endeavour but a societal necessity.

As nations grapple with rising healthcare costs, shrinking workforces, and the socioeconomic impacts of ageing, the need to prioritise longevity on a global scale becomes increasingly clear.

Governments that integrate longevity into their national strategies will be able to address these challenges while unlocking unprecedented opportunities for economic growth, innovation, and societal wellbeing.

The ageing crisis: A global challenge

The demographic transformation of the world’s population is unmistakable. In many developed nations, ageing populations now outnumber younger generations, creating an imbalance that threatens economic stability.

Often referred to as the “Silver Tsunami”, this phenomenon is marked by the growing prevalence of age-related chronic diseases, escalating healthcare expenditures, and surging pension obligations.

For countries like Japan, Germany, and Italy, the combination of low birth rates and increased life expectancy has resulted in a shrinking workforce and rising dependency ratios. Without proactive measures, these demographic shifts will strain public finances, limit economic growth, and exacerbate social inequities.

But the ageing crisis is not an insurmountable burden — it is an opportunity. Longevity reframes ageing populations as catalysts for innovation rather than liabilities. With the advent of precision medicine, AI-driven health analytics, and groundbreaking biotechnologies such as gene therapies and senolytics, humanity is now capable of extending healthy, productive years.

The “healthy longevity” vision emphasises prevention over treatment, enabling individuals to contribute to society well into their later years. Adopting an approach of this nature, governments would be able to reduce the economic strain of chronic diseases and transform ageing populations into valuable assets for their economies.

Nations embracing longevity

Leading nations are already demonstrating the potential of longevity-focused governance.

Singapore has emerged as a model, investing in ageing research, health technologies, and community-based care programmes to extend the health span of its citizens.

Switzerland, known for its progressive regulatory frameworks, has established itself as a hub for longevity BioTech innovation.

Israel, with its flourishing tech ecosystem, is advancing precision health solutions that integrate AI and data-driven decision-making.

In the process of addressing the challenges of ageing, these countries are positioning themselves as leaders in what is rapidly becoming the fifth industrial revolution — one centred on health, technology, and sustainability.

The economics of longevity

The economic implications of longevity are profound. Preventive healthcare and early interventions can significantly reduce the financial burden of managing chronic diseases, which account for the majority of healthcare expenditures in ageing societies.

Furthermore, the rise of longevity-related industries — such as agetech, biotech, and longevity fintech — presents a lucrative opportunity for job creation and economic diversification. Governments that invest in these sectors today will reap the benefits of a longevity dividend, as healthier populations remain active in the workforce and contribute to the economy for longer.

Consider Japan, often cited as a cautionary tale of super-ageing societies, yet also a beacon of adaptation.

Facing one of the world’s oldest populations, Japan has embraced innovation to counteract demographic challenges. Robotics and AI are being deployed to fill labour gaps, while community initiatives encourage active lifestyles and preventive healthcare. Japan is turning ageing into a driver of technological advancement, demonstrating how societies can thrive despite demographic pressures.

UAE: Pioneering longevity governance

The UAE is another compelling example of how longevity can become a strategic priority. The Department of Health – Abu Dhabi has recently announced the licensing of the Institute for Healthier Living Abu Dhabi (IHLAD) as the first specialised healthy longevity medicine centre in the world.

As part of its post-oil economic diversification, the UAE has embraced emerging industries such as biomedicine, AI, and longevity fintech. In cities like Dubai, investments in smart healthcare infrastructure and wellness hubs illustrate how longevity technologies are integrated into urban development.

The UAE’s agility in regulatory reform and its commitment to public-private partnerships position it as a global leader in longevity governance. With its focus on innovation and strategic foresight, the UAE is uniquely equipped to host global longevity summits, set international standards, and attract investment in this burgeoning field.

Technology and longevity shaping our future

The convergence of advanced technologies further amplifies the potential of longevity initiatives.

Biomedicine, AI, and blockchain are reshaping how health data is collected, analysed, and used. Predictive analytics enable real-time monitoring of population health, allowing governments to implement adaptive policies.

Blockchain technology ensures transparency and security in healthcare systems, while longevity fintech innovations provide financial products tailored to extended lifespans, such as longevity insurance.

Together, these advancements are building the foundation for integrated longevity ecosystems that optimise both health span and wealth span.

The first true Longevity State will rise when technologies, policies, and ecosystems align to prioritise the extension of productive years.

Such a state would not only lead in health innovation but also redefine governance for the modern era, using data-driven insights to address global challenges.

From policy to practice

Achieving the promise of longevity requires governments to take a proactive approach, and this involves developing comprehensive national longevity development plans that bring together stakeholders from healthcare, technology, and finance.

Funding research and development in ageing biology, regenerative medicine, and AI is essential. Real-time health monitoring systems using biomarkers and predictive analytics can empower governments to make data-driven decisions, while international collaboration can standardise longevity metrics and promote equitable access to advancements.

Longevity for healthier, equitable societies

Longevity initiatives can reduce societal strain, improve quality of life, and foster intergenerational equity.

Policies that promote preventive care, universal access to longevity technologies, and inclusive approaches to ageing will ensure that the benefits of extended lifespans are shared widely. Addressing ethical concerns, such as accessibility and overpopulation fears, requires careful policymaking that balances economic goals with societal needs.

Governments must act as catalysts, fostering innovation ecosystems and adopting bold, forward-thinking policies to position themselves as leaders in this emerging field.

The future of longevity is a collective endeavour, requiring collaboration across borders to ensure that the benefits of extended health spans are accessible to all. With the right investments, governance, and vision, longevity can redefine the 21st century as an era of health, prosperity, and equity.

The time to prioritise longevity is now, for the benefit of current and future generations.

Read: PureHealth’s Shaista Asif on why longevity is the key to the future of healthcare

DAMAC Group has entered into a strategic partnership with blockchain firm MANTRA to tokenise real-world assets (RWAs) in the Middle East.

This alliance marks a significant step in driving the adoption of blockchain technology to enable fractional ownership and tokenised real estate investment opportunities.

With the real estate market in the Middle East continuing to grow, this collaboration aims to open up new avenues for investors to access previously untapped segments of the market, particularly by overcoming traditional barriers in real estate investment.

Key move for the DAMAC Group

The partnership will focus on token-based financing for a range of assets, spanning real estate, hospitality, data centres, and other critical sectors. The initiative targets assets with a minimum value of $1bn, leveraging DAMAC’s broad portfolio of companies.

Amira Sajwani, MD of Sales and Development at DAMAC Group, said, “We are always exploring new technologies to enhance our product offerings. Partnering with MANTRA is a natural extension of our commitment to innovation and forward-thinking solutions.

“Tokenising our assets will provide investors with a secure, transparent, and convenient way to access a wide range of investment opportunities.”

This strategic move aligns with DAMAC’s goal of opening up real estate investment opportunities in the Middle East, making it more accessible to a global pool of investors, and enabling fractional ownership for individuals who may have previously been excluded from high-value assets.

Tokenisation and blockchain technology to enhance investor access

The group’s assets will be available on MANTRA Chain in early 2025, exclusively through the blockchain platform.

This marks a critical development in integrating blockchain technology to enhance the transparency, security, and accessibility of DAMAC Group’s diverse assets.

The partnership is expected to be a game-changer in the way real estate is financed and invested in the region.

John Patrick Mullin, CEO and co-founder of MANTRA, highlighted the significance of the collaboration, stating, “This partnership with DAMAC Group is an endorsement for the RWA industry.

“We’re thrilled to partner with such a prestigious group of leaders that share our ambitions and see the incredible opportunities of bringing traditional financing opportunities onchain.”

The UAE’s real estate market continues to soar as property portal Property Finder reported impressive growth across Dubai and Abu Dhabi in 2024.

Both cities have experienced remarkable momentum, with Dubai achieving record-breaking transaction volumes and values, while Abu Dhabi also demonstrated strong performance despite a more modest market.

Cherif Sleiman, chief revenue officer at Property Finder, noted that 2024 “was a defining year for the UAE’s real estate sector, with record-breaking transactions”.

He added: “The momentum is expected to continue in 2025 as both Dubai’s off-plan market and Abu Dhabi’s property portfolio continue to grow. The launch of the Smart Rental Index by the Dubai Land Department is an example of how the UAE is raising the bar in transparency and trust.”

Here are the key highlights of 2024, as shared by Property Finder:

Dubai: Record-breaking year for real estate transactions

• Total transactions: 180,987, worth Dhs522.5bn.
• 36.5 per cent increase in transaction volume compared to 2023.
• 27.2 per cent increase in transaction value compared to 2023.
• Off-plan sales surged, comprising 60.5 per cent of all transactions, up from 43.6 per cent last year.
• Off-plan transaction volume increased by 60.6 per cent, reaching 109,527 transactions.
• Off-plan transaction value jumped by 43.5 per cent, totaling Dhs228.03 bn, up from Dhs159bn in 2023.

Abu Dhabi: Steady growth amid record performance

• Total transactions: 14,662, valued at Dhs47.92bn.
• 4 per cent increase in transaction volume from 2023.
• Residential properties accounted for 66 per cent of the transaction volume and 53 per cent of the total value.
• Existing property market showed impressive performance, with 53.4 per cent year-on-year growth in transaction volume, reaching 4,320 transactions.
• Existing properties had a total transaction value of Dhs9.27bn, marking a 34.7 per cent YoY increase.

Off-plan market: A dominant driver in Dubai and Abu Dhabi

• Dubai’s off-plan market saw substantial growth, making up 60.5 per cent of total transactions. Off-plan transactions reached 109,527 with a value of Dhs228.03 bn, marking the highest volume and value ever recorded in Dubai.
• Abu Dhabi’s off-plan market also performed well, with 5,385 transactions, accounting for 55.5 per cent of total transactions. The total value of off-plan sales in Abu Dhabi reached Dhs16.34bn, contributing to 63.8 per cent of the total residential sales value.

Existing/ready property market: Solid performance in both cities

• In Dubai, existing property transactions grew by 10.9 per cent, with 71,460 transactions. These transactions accounted for 39 per cent of total transactions, reaching a value of Dhs294.5 bn, a 16.9 per cent increase from 2023.
• Abu Dhabi’s existing property market saw significant growth with 53.4 per cent more transactions year-on-year, reaching 4,320 transactions valued at Dhs9.27 bn, a 34.7 per cent YoY increase.

Expert insights

Mark Richards, CEO of The Network, added that Dubai’s real estate market is poised for another strong year in 2025, driven by sustained demand, limited supply in key segments, and continued population growth.

He estimates that 50,000-60,000 new residents will arrive annually, while 41,000 new residential units are expected in 2025, though only 5,000 of these will be villas and townhouses, creating a notable supply gap in this high-demand segment.

Sam McCone, managing partner of McCone Properties, highlighted that private developers are focusing on high-quality real estate, refining design and craftsmanship to meet the evolving demands of buyers and tenants.

Abdullah Alajaji, MD of Driven Properties, noted the rising demand for affordable housing and smaller units, along with strong interest in luxury properties and off-plan developments, which indicates strong investor confidence moving into 2025.

Lebanese government bonds extended their three-month-long rally on Thursday as the crisis-ravaged country’s parliament voted in a new head of state for the first time since 2022.

Lebanese lawmakers elected army chief Joseph Aoun as president. It came after 12 failed previous attempts to pick a president and boosted hopes that the country might finally be able to start addressing its dire economic woes.

Its battered international bonds have almost trebled in value since September, when the regional conflict with Israel weakened Lebanese armed group Hezbollah, long viewed as an obstacle to overcoming its political paralysis.

Those bonds, which have been in default since 2020, rallied shortly after Aoun’s victory was announced and stood around 1.3 cents higher on the day at just over 16 cents on the dollar as local trading wound down.

One bondholder described Aoun’s election as “a very positive development” in the broader context of the ceasefire with Israel, the downfall of Bashar al-Assad in Syria and strong support for Lebanon both regionally and internationally.

“We expect the government formation to be relatively quick so they can start to work on reforms towards a deal with the IMF and banking sector restructuring,” said Ted Pincus at Switzerland-based fund Mangart.

With economic support from Saudi Arabia, UAE, France, the United States and others also on the table, “Lebanon’s future now looks a lot brighter,” he added.

Road to recovery

Lebanon’s bonds have risen steadily in recent months, although they remain some of the lowest-priced government bonds in the world, reflecting the scale of its difficulties.

With an economy and financial system still reeling from a collapse in 2019, Beirut is in dire need of international support to rebuild from the recent conflict, which the World Bank estimates to have cost the country $8.5bn.

Hasnain Malik, an analyst at financial research firm Tellimer, said Aoun’s victory was “the first necessary step on a very long road to recovery”.

Aoun now needs to appoint a prime minister and assemble a cabinet that can retain the support of parliament, resuscitate long-delayed reforms and help Lebanon secure international financial support.

On the downside, the voting process demonstrated that despite its weakened military capability, Hezbollah remains a key political force.

The 61-year-old Aoun fell short of the required support in Thursday’s first round of parliamentary voting and only succeeded in a second round, reportedly after a meeting with Hezbollah and Amal party MPs.

“That presents significant ongoing risk to any new PM and cabinet, which need to maintain the confidence of a majority of parliament,” Malik said.