ALTÉRRA, the world’s largest private climate investment vehicle, has made its first co-investment, committing $100m to Indian renewable energy firm Evren.

The move, made alongside Brookfield Asset Management and other investors, aims to accelerate clean energy deployment in one of the fastest-growing major economies.

The investment was made through the ALTÉRRA Acceleration Fund and marks the fund’s first direct investment into the Global South.

It will support the development of approximately 11 gigawatts (GW) of solar, wind, and battery storage projects across the Indian states of Rajasthan and Andhra Pradesh.

The projects are expected to contribute significantly to India’s national target of achieving 500GW of renewable energy capacity by 2030.

Evren: A key company supporting India’s energy transition

Evren, a key player in India’s energy transition, is focusing on strengthening the country’s clean energy ecosystem. The company works with domestic manufacturers for wind turbines and solar modules, supporting supply chain resilience and local economic development.

India, projected to grow at around 6.5 per cent GDP in 2024, is pushing to meet its surging energy demand through clean sources.

The transition is expected to require as much as $300bn in investment by 2030, driven by economic expansion, technological advancements in energy storage, and favorable regulatory reforms aimed at improving the renewable energy investment climate.

“ALTÉRRA’s investment in Evren is a powerful demonstration of our mission in action — catalysing capital into tangible, scalable, and economically compelling climate initiatives,” said Majid Al Suwaidi, CEO of ALTÉRRA. “By deploying capital into India’s fast-growing economy, we are supporting reliable and affordable energy generation and unlocking investable opportunities. ALTÉRRA’s mission is not just to finance projects but help reshape how and where the world invests through solutions that drive impact and build resiliency.”

Connor Teskey, president of Brookfield Asset Management, welcomed the co-investment: “ALTÉRRA’s investment in Evren is a significant milestone in our ongoing commitment to accelerating the global energy transition. By combining Evren’s robust development pipeline and Brookfield’s extensive operational expertise, we are not only supporting India’s ambitious renewable energy targets but also fostering economic growth and energy security.”

ALTÉRRA, Brookfield investments

Evren is among the latest investments from Brookfield’s Global Transition Fund II (BGTF II), which is still raising capital following a record $15bn in its first vintage. ALTÉRRA committed $2bn to BGTF II during COP28, becoming its largest third-party investor.

The Evren transaction reflects ALTÉRRA’s strategy of mobilising institutional capital into both developed and emerging markets and underscores its expanding role in the global clean energy landscape.

The investment highlights ALTÉRRA’s progress since its launch and signals its ambition to scale up impact in 2025.

Arada has officially launched Nest Hotel, its first homegrown hospitality brand, during Arabian Travel Market (ATM) 2025.

Operated by Arada Hospitality, the debut Nest Hotel will open this October in Aljada, Sharjah’s Dhs35bn lifestyle megaproject.

The 431-key property is the first completed hotel in Arada’s 1,031-key hospitality and serviced apartment portfolio at Aljada.

Nest Hotel Aljada: Central location, amenities

Nest Hotel Aljada spans two smart buildings and is strategically positioned near Sharjah International Airport, University City, and directly adjacent to Nest Campus, Arada’s student housing cluster.

It also sits opposite the Arada Central Business District and within walking distance of Madar Mall, a popular family entertainment destination.

“Nest Hotel embodies Arada’s dedication to creating quality and value-driven destinations that put people first,” said Ahmed Alkhoshaibi, Group CEO of Arada. “We’re launching this hospitality brand to ensure a guest experience that fosters a sense of community and wellbeing, starting with Aljada, Sharjah’s most exciting urban destination.”

Designed with insights from residents and travellers, Nest Hotel features a next-generation hospitality model. Rooms are equipped with smart tech such as mobile check-in, digital room access, and energy-efficient systems. Guests will also enjoy access to coworking lounges, a swimming pool, and an all-day dining venue.

“Nest Hotel is designed for travellers and visitors who expect more from their stay — more convenience, more energy and more connection to the surrounding districts,” said Amit Arora, COO of Arada. “It’s a next-generation hotel that offers both comfort and relevance to the modern guest, right in the heart of a thriving community.”

Meets growing demand

The hotel is poised to meet rising demand from both leisure and business travellers, particularly in the MICE sector.

In 2024, Sharjah International Airport handled 17 million passengers, an 11 per cent year-on-year increase. Nest Hotel Aljada also caters to internal demand from within the Aljada community itself, which welcomed 8 million visitors last year.

Its proximity to major institutions such as Sharjah Research Technology and Innovation Park (SRTIP) and Sharjah Airport International Free Zone (SAIF Zone), along with quick access to E311 and Al Dhaid Road, makes it a convenient choice for both regional and international guests.

Read: How Arada is expanding its presence in UAE’s luxury property market

Expanding the Arada hospitality portfolio

Nest Hotel complements Arada’s expanding portfolio of lifestyle and hospitality brands. Aljada already features upcoming hotels including Vida Aljada and The Address Aljada (operated by Emaar Hospitality), and Rove Aljada, jointly operated by Emaar Properties and Meraas.

The Nest brand also builds on Arada Hospitality’s existing offerings, including the Nest Campus student housing community, and a network of wellness and F&B ventures such as Wellfit, FitnGlam, FITCODE, The Platform Studios, Boost Juice, The Reformatory Lab, Hungry Wolves, and the popular Zad food truck destination.

Emirates has expanded its global network through the activation of a reciprocal codeshare partnership with German leisure carrier Condor and a newly established codeshare agreement with Air Seychelles, enhancing connectivity for travellers ahead of the 2025 summer season.

Under the reciprocal agreement with Condor, Emirates customers will be able to access 11 additional destinations across Europe and the Caribbean via Frankfurt, Dusseldorf, and Hamburg.

These include holiday hotspots such as Palma de Mallorca, Ibiza, Gran Canaria, Fuerteventura, Tenerife, Cancun, and Montego Bay.

In return, Condor passengers will gain access to 13 destinations on the Emirates network via Dubai, including Bali, the Maldives, Sri Lanka, Bangkok, Phuket, Hanoi, and Cape Town.

Bookings under the codeshare are now available through the airlines’ respective websites, global distribution systems, and travel agents, with travel commencing from May 10.

Emirates Skywards members can earn and redeem miles on codeshare flights operated by both carriers.

Emirates-Air Seychelles partnership

In a separate announcement, the airline confirmed a new partnership with Air Seychelles. The codeshare agreement will allow Emirates to place its code on Air Seychelles-operated flights between Mahe and Praslin Island, streamlining travel to one of the Indian Ocean’s most visited islands.

Passengers will benefit from single-ticket itineraries, competitive fares, and through-checked baggage from Dubai to Praslin.

“Our codeshare partnership with Air Seychelles will provide customers with seamless connections to Praslin Island, and complements our existing services between Dubai and Mahe,” said Adnan Kazim, deputy president and CCO, Emirates. “We look forward to developing the relationship further and introducing more added-value benefits.”

The Dubai-based carrier currently operates 14 weekly flights between Dubai and Mahe, serving travellers predominantly from France, Italy, Germany, Switzerland, and the UK.

Sandy Benoiton, CEO of Air Seychelles, added, “This agreement not only simplifies travel for our customers but also showcases our commitment to making the Seychelles more accessible to travellers from around the world.”

With these new tie-ups, Emirates now maintains commercial cooperation agreements with 164 partners across interline, codeshare, and intermodal formats, extending its reach to nearly 1,800 cities.

Over the past year alone, the airline has launched 11 new partnerships.

New MoUs signed at ATM 2025

As part of its ongoing commitment to global tourism, the airline has strengthened its collaboration with seven tourism boards — Malaysia, Sri Lanka, Morocco, Seychelles, The Bahamas, Warsaw, and Nigeria — by signing new memoranda of understanding (MoUs) during ATM 2025.

Read: Emirates strikes 8 deals to power global tourism growth

These agreements are designed to boost inbound travel from across Emirates’ vast global network, positioning each destination as a premier choice for international visitors.

The renewed and new partnerships will see Emirates and its tourism partners co-develop targeted marketing campaigns, organise familiarisation trips for media and travel agents, and launch joint promotional initiatives across key source markets.

From showcasing Malaysia’s lush landscapes and Sri Lanka’s island allure, to supporting Morocco’s goal of attracting 17.5 million visitors annually, and enhancing Nigeria’s positioning as a vibrant African destination, Emirates is playing a pivotal role in unlocking tourism potential and supporting national growth strategies.

Miral, the developer behind Abu Dhabi’s popular leisure destinations, announced record-breaking visitation numbers across Yas Island and Saadiyat Island in 2024, driven by surging demand from regional and international markets.

Unveiled during the Arabian Travel Market 2025, Yas Island welcomed over 38 million visits, marking a ten per cent year-on-year increase and its strongest performance since 2019. Saadiyat Island also recorded a 10 per cent rise in visitors, underscoring its appeal as a luxury cultural and beach destination.

“These exceptional results are a testament to our commitment to contributing to Abu Dhabi’s vision of becoming a leading global destination,” said Dr Mohamed Abdalla Al Zaabi, Group CEO of Miral. “We’re not only attracting visitors, but also creating joyful moments that leave a lasting impact.”

Hospitality numbers up across

Yas Island’s hospitality sector hit 82 per cent occupancy, peaking at 90 per cent in August, alongside a 17 per cent increase in average daily rate (ADR).

Theme parks and CLYMB Abu Dhabi saw a 20 per cent jump in attendance, with GCC visitation up 56 per cent and international visits surging 40 per cent, led by India (44 per cent), China (81 per cent), UK (40 per cent) and Russia (29 per cent).

The destination’s growing status as an events powerhouse was underscored by a ten per cent rise in consumer event attendance in 2024. Major highlights included concerts by Diljit Dosanjh and the Backstreet Boys, the Wireless Festival, NBA, UFC, and Formula 1, as well as regional premieres of hit musicals like Hamilton and Life of Pi.

Business tourism also surged, with a seventeen per cent increase in conferences and a seven per cent rise in room nights. Miral revealed its latest digital initiative — a Yas Island Metaverse developed with e& enterprise — aiming to elevate corporate engagement through immersive virtual experiences.

Hotel occupancy grew on Saadiyat Island, reports Miral

On Saadiyat Island, hotel occupancy hit 74 per cent in 2024, with ADR growing 14 per cent.

The island saw significant inbound growth from China (58 per cent), India (30 per cent) and the UK (11 per cent), cementing its appeal as a nature and culture-focused destination.

Yas Waterworld expansion announced

Looking ahead, Miral is set to unveil a host of new attractions in 2025, further enhancing Abu Dhabi’s position as a global leisure and cultural hub. A major expansion of Yas Waterworld is slated for summer 2025, featuring 12 new rides, including the world’s first blaster ride designed for kids.

At Yas Bay, a 560-metre beachfront development will add to the lifestyle offerings along Yas Bay Waterfront, complementing the area’s vibrant leisure scene. Warner Bros. World Yas Island, Abu Dhabi will also see a significant footprint expansion, with new DC attractions, the highly anticipated Wizarding World of Harry Potter, and two additional rides, building on the theme park’s immersive experiences.

Meanwhile, on Saadiyat Island, the Natural History Museum Abu Dhabi — expected to be the largest of its kind in the region—is on track for completion by the end of 2025. The museum will offer visitors a captivating journey through the history of the natural world and the diversity of life on Earth.

Adding to the cultural landscape, teamLab Phenomena Abu Dhabi opened its doors on April 18 at the Saadiyat Cultural District. Spanning 17,000 square metres, the multi-sensory art experience was developed in collaboration with the Department of Culture and Tourism – Abu Dhabi (DCT Abu Dhabi) and Japanese art collective teamLab, and is operated by Miral Experiences.

These milestones reflect Abu Dhabi’s broader Tourism Strategy 2030, which targets 39.3 million visitors annually, Dhs90bn in GDP contribution, and 178,000 new tourism jobs.

Read: The wait is over: teamLab Phenomena Abu Dhabi opens to public

The Ministry of Interior in Saudi Arabia has announced penalties for individuals who violate regulations requiring a permit to perform Hajj, as well as for those who facilitate such violations.

The following penalties will be applicable to the violators during the period starting from Dhul Qada 1, corresponding to April 29, until the end of Dhul Hijjah 14 (June 10).

Performing Hajj without a permit

According to an SPA report, firstly, a fine of SR20,000 will be imposed on individuals caught performing or attempting to perform Hajj without a permit. This includes holders of all types of visit visas who attempt to enter or stay in Makkah and the holy sites during the specified period.

Read- Hajj 2025: Saudi Council reiterates permit requirement for pilgrimage

Facilitating Hajj without a permit

Secondly, a fine of SR100,000 will be imposed on individuals who apply for a visit visa on behalf of someone who has performed or attempted to perform Hajj without a permit. The same fine will also apply to those who have entered or stayed in Makkah and the holy sites during the restricted period.

The fine will multiply for each individual involved.

Transporting or sheltering visit visa holders

Thirdly, a fine of SR100,000 will also be imposed on individuals who transport or attempt to transport visit visa holders to Makkah and the holy sites during the specified period. This applies equally to those who shelter or attempt to shelter these individuals in any accommodation, including hotels, apartments, private residences, shelters, or pilgrims’ housing.

This also includes concealing their presence or providing any assistance that enables their stay. The fine will multiply for each individual sheltered, concealed, or assisted.

Illegal infiltration to perform Hajj

In addition, illegal infiltrators attempting to perform Hajj—whether residents or overstayers—will be deported to their home countries and banned from entering Saudi Arabia for ten years.

Confiscation of vehicles

Finally, the relevant court may order the confiscation of any land vehicle used to transport visit visa holders to Makkah or the holy sites during the specified period, if owned by the transporter, facilitator, or any accomplice.