EMSTEEL has announced the launch of its inaugural Green Finance Framework, which aims to align the company’s financial strategy with its long-term sustainability and decarbonisation objectives.

The framework enables EMSTEEL and its subsidiaries to issue a diverse range of green finance instruments, including green bonds, loans, commercial papers, and medium-term notes (MTNs), across multiple currencies. The proceeds generated from these instruments will be exclusively allocated to finance or refinance eligible green projects that follow stringent environmental criteria, said a statement.

These projects encompass different initiatives, such as, production of low carbon steel and cement, installation of renewable energy systems like solar photovoltaic systems, the adoption of energy efficient technologies, and innovative solutions that drive decarbonisation.

Saeed Ghumran Al Remeithi, Group CEO of EMSTEEL said, “Our Green Finance Framework is more than a financial tool,  it is a strategic lever to accelerate our transition towards a low-carbon future. It reflects our commitment to aligning our fund raising activities with internationally recognised market standards for green financing and channeling funds toward environmentally responsible projects. Through this initiative, we aim to support the decarbonisation of our operations, foster innovation in low-carbon steelmaking and create long-term value for our shareholders, society, and the planet.”

Mark Tonkens, Group Chief Financial Officer added, “The launch of our Green Finance Framework marks a pivotal step in reinforcing EMSTEEL’s commitment to sustainability. Aligning our financial strategy with global green finance standards enables us to secure funding for high-impact projects and positions us as a leader in the region’s transition to a low-carbon economy.”

Developed in accordance with internationally recognised best practices, the framework ensures transparent approach to the issuance, management, and reporting of green finance instruments. Moody’s Ratings has provided a Second Party Opinion (SPO), awarding the Framework a Sustainability Quality Score of SQS2 (Very Good), enhancing investor confidence in EMSTEEL’s sustainability-focused capital strategy.

The framework’s development was supported by key partners, including ING as the Lead Sustainability Structuring Bank and First Abu Dhabi Bank (FAB) as the Sustainability Structuring Bank. This collaboration underscores the regional commitment to advancing sustainable finance. The Green Finance Framework is an important component of EMSTEEL’s Environmental, Social, and Governance (ESG) strategy. It supports ambitious targets aimed at reducing greenhouse gas emissions by 40% in steel production and 30% in cement production by 2030.

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DAMAC Properties has unveiled Chelsea Residences, a residential development that has emerged from its global partnership with Chelsea F.C.

Situated in Dubai Maritime City, Chelsea Residences boasts a prime location on one of the last remaining waterfront corner plots. This location offers residents 270-degree views of the Arabian Gulf and the Dubai skyline, the developer explained.

The development comprises six towering structures, each reaching a height of 130m, and boasts over 1,400 designed apartments. Each apartment is inspired by the tranquility of the sea and the passion of Chelsea F.C. The launch of this project in Dubai was attended by Amira Sajwani, Managing Director of DAMAC, and Todd Kline, President, Commercial, Chelsea F.C.

“This is more than a residence – it’s the beginning of something extraordinary. Chelsea Residences by DAMAC represents a convergence of two global powerhouses, redefining what it means to live like a champion,” said Amira Sajwani. “Every detail of this development embodies the spirit, discipline and pride of Chelsea F.C., from its design language to its world-class facilities.”

The project includes Chelsea F.C. branded fitness and wellness facilities, an outdoor rooftop football pitch, while an Aquarium Lounge in Chelsea blue offers opportunities for entertainment and relaxation. Whether enjoying a game in the private Cinema, training in the Chelsea Athlete Performance Centre or relaxing in the Rain Therapy Room, residents can live with the rhythm of champions, the statement explained.

Chelsea Residences also offers health and fitness experiences. These include a cryotherapy centre, forest relaxation pods, a kneipp parkour therapy path, and a starlit wellness centre. The project also features an infinity pool, aerial yoga studio, Chelsea Sports Bar, powerhouse lounge, a resort style mancave with live football screenings, boxing, darts and more.

Dining takes a wellness first and experience rich approach. Highlights include Dubai’s first healthy mono-diet café, a private chef’s table experience, and the show stopping Captain’s Table, a resident exclusive event series hosted by Chelsea F.C., the statement outlined.

The development’s one-, two-, and three-bedroom apartments are designed with biophilic principles in mind. They feature floor-to-ceiling windows that offer views of the sea, interiors inspired by London’s cool elegance and Dubai’s modern vibrancy, and sustainable water filtration systems throughout.

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Arada has launched Nest Hotel, the master developer’s first homegrown hospitality brand. Nest Hotel will be managed by Arada Hospitality, with the first hotel taking shape in the Aljada megaproject in Sharjah. It is to be the first completed property in Arada’s 1,031 key hotel and serviced apartment district.

Nest Hotel Aljada serves the demand from MICE and the leisure tourism sectors in Sharjah, the hotel also meets demand from within the Aljada community itself. It will provide rooms for guests from Sharjah’s events and academic sectors, and offer accommodation for visiting faculty, parents and professionals attending functions at the nearby Al Jawaher Reception and Convention Centre.

Ahmed Alkhoshaibi, Group CEO of Arada said, “Nest Hotel embodies Arada’s dedication to creating quality and value-driven destinations that put people first. 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.”

Amit Arora, Chief Operating Officer of Arada, said, “Designed with insights from Nest Campus residents and the wider Aljada community, Nest Hotel is designed for travellers and visitors who expect more from their stay, more convenience, energy and connection to the surrounding districts. It’s a next-generation hotel that offers both comfort and relevance to the modern guest, right in the heart of a thriving community. Smart hospitality is at the core of the Nest Hotel experience, encompassing features such as mobile check-in, digital room access, energy-efficient systems, co-working lounges, a guest pool, and all-day dining.”

Set to open in October, Nest Hotel Aljada will welcome guests to 431 rooms across two buildings, and is located adjacent to the Nest Campus student housing cluster, opposite Arada Central Business District. Sharjah’s new commercial hub, and five minutes’ walk from the Madar Mall.

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OMNIYAT has awarded the main construction contract for its landmark properties, VELA and VELA Viento, to Arabian Construction Company (ACC Group).

The two projects are said to be key developments within OMNIYAT’s vision of transforming Marasi Bay into Dubai’s most prestigious waterfront destination, blending residential, commercial, and leisure experiences across a walkable, ultra-luxury district, the developer said.

Once completed, the destination will feature high-end hotels, signature residences, retail experiences, premium workspaces, and wellness-centric public spaces, all connected by a landscaped promenade and marina. Further landmark properties to be delivered in the district are ENARA by OMNIYAT, a prestigious commercial development designed to redefine the corporate environment with world-class amenities, sustainable design, and an exclusive lifestyle experience, set for completion in Q4 2027, it added.

“We are excited to work with one of the best-in-class contractors in the region on VELA and VELA Viento in Marasi Bay.The appointment of ACC Group is a critical milestone on our journey to redefine luxury living and further cement Marasi Bay’s position as the region’s most prestigious address. Aligned with our legacy of collaborating with partners who are committed to our vision, we trust in ACC’s expertise and experience in bringing these exceptional developments to life,” said Peter Stephenson, Co-Managing Director of OMNIYAT.

Main works on both projects are now in full swing, with site mobilisation and early construction milestones completed. The anticipated handover is scheduled for 2027, with VELA set for Q2 and VELA Viento in Q3 – adding to a growing constellation of OMNIYAT’s luxury assets in the district, which also includes The Lana and The Lana Residences, managed by Dorchester Collection, the developer explained.

Designed in collaboration with Foster + Partners and Gilles & Boissier, VELA and VELA Viento aim to offer refined living experiences for the global elite. Managed by Dorchester Collection, the properties boast bespoke residences with expansive terraces, private pools, and floor-to-ceiling windows framing panoramic views of the Dubai Canal, Burj Khalifa, and Downtown skyline. Residents of both projects will enjoy seamless access to The Lana Hotel, and The Lana Residences, the statement explained.

At VELA, the first of the two projects to launch, core structural work is advancing steadily, with nearly 50% of the raft reinforcement complete, and MEP and façade contractors mobilised on-site.

Rasheed Mikati, Executive Director at ACC Group added, “OMNIYAT has always delivered projects that speak to Dubai’s evolution as a global beacon of design and ambition. With nearly six decades of expertise in creating world-class landmarks and critical infrastructure, we are committed to delivering VELA and VELA Viento to the highest global standards.”

VELA Viento is set to push the boundaries of design with architectural features such as three duplex residences featuring ‘hanging’ dining rooms connecting its twin towers – a concept unique to the property. VELA Viento will also feature two crowning penthouses, and lifestyle amenities perched 100m high, including an infinity pool, sun deck, yoga studio, and a double-height gym, the developer explained.

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BurJuman Mall has unveiled its new Smart Parking system, which aims to revolutionise the arrival experience at the mall by providing hassle-free, efficient parking options.

The mall said it is transforming its customer convenience by introducing a new ticketless paid parking system and user-friendly navigation upgrades. These enhancements are now live across the mall’s parking facilities, aiming to decongest parking, improve car flow, and make parking easier for customers. This commitment to customer satisfaction is evident in BurJuman Mall’s efforts to enhance the overall shopping experience, said a statement.

BurJuman’s Smart Parking, enabled by advanced ANPR (Automatic Number Plate Recognition), provides paperless and touchless entry and exit. Guests can enjoy free parking for the first three hours daily, and VOX Cinema guests receive an additional three hour grace period free of charge upon validation. Parking is also free on Sundays and public holidays. Guests can make payments via card or cash at Parking Payment Kiosks, with card only payment available at exit points, the statement outlined.

Enhanced wayfinding signage simplifies navigation within the parking facility, while designated areas ensure accessibility for individuals with disabilities and families. BurJuman Mall prioritises convenience from the very first touchpoint, ensuring visitors have a smoother and smarter shopping, dining, and entertainment experience.

BurJuman Mall said that introducing Smart Parking is part of its ongoing commitment to listening to its community and evolving its offerings to provide a modern and convenient lifestyle destination. This upgrade aligns with Dubai’s efforts to promote smart infrastructure and customer-centric retail innovation.

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Mace has conducted a new worldwide survey that revealed that while 97% of asset managers believe they can keep pace with environmental regulations and reporting requirements, only 20% are actively implementing sustainability strategies and achieving sustainable outcomes.

Mace’s State of Sustainable Assets report was conducted by Censuswide, who surveyed over 4,000 building portfolio and asset managers across the UK, UAE, USA, and Hong Kong. The survey, spanning 14 sectors such as architecture and engineering, residential real estate, retail and leisure, and infrastructure, aimed to gain insights into how asset managers are addressing the global climate challenge. With recent developments almost confirming that the world will surpass the Paris Climate Agreement’s 1.5-degree target and the built environment contributing 40% of global emissions, the study underscores the urgent need for further action.

The report details the broad value creation when it comes to sustainable assets, including strengthened resilience, competitive advantage, reduced operational costs, and increased asset value. But what seems incongruous is that 54% of respondents recognise that more sustainable assets are crucial to unlocking financing for their business and are becoming a standard mandate from outside investors.

In the UAE, finance is a motivator that rises to 58% of asset managers, with the most important areas of investment to deliver sustainable portfolios being data and AI (52%), ahead of green skills and talent (17%), standardisation of reporting frameworks (16%), and decarbonisation technologies (14%). On the reporting side, 69% of UAE asset managers feel ‘very able’ to keep pace with regulations and reporting, compared to 57% globally, the report revealed.

James Low, Global Head of Responsible Business at Mace said, “It is imperative businesses have sustainable assets and with many making Net Zero carbon commitments for 2030 and 2050, asset managers have a crucial role to play in shaping the future of our growing urban environments. This study has found that sustainable solutions can combine environmental and financial advantages, however, most asset managers have only just started their journey when it comes to implementing their strategies. But with asset managers now able to keep pace with current environmental regulations and reporting requirements, it’s time to enact their strategies with tactics that can be implemented and measurement systems needed to get them off the mark.”

Tushant Suri, MEA Responsible Business Lead at Mace added, “As we accelerate towards a Net Zero future, the report shows sustainable assets are no longer a niche – they are the foundation of resilient and future-ready infrastructure. At Mace, we believe the integration of sustainability into every stage of an asset’s lifecycle is essential to unlocking long-term value, creating a positive impact on environmental, societal and financial outcomes.”

To achieve measurable outcomes, the report emphasises that asset managers should prioritise sustainable skills to adopt a digitally enabled approach. By aligning strategic thinking with technology, they can unlock the most impactful outcomes for greener portfolios.

While some strategies may not have been successfully implemented yet, there’s a positive outlook for optimists. Asset managers hold a unique position as intermediaries between tenants and owners, enabling them to advocate for sustainability. Swift and decisive action now can lead to a healthier built environment in the future, the firm noted.

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Modon Holding has announced the launch of the first townhouses in Nawayef Village. Nestled within the Nawayef development on Abu Dhabi’s Hudayriyat Island, Nawayef Village is a gated community situated in the valley between Nawayef West and East Hills.

This integrated development boasts green spaces, community centres, and all the amenities residents need conveniently located at their doorstep. The project offers a range of 378 units, catering to investors with the option of choosing between three- and four-bedroom townhouses or five-bedroom twin villas, the firm said in a statement.

Bill O’Regan, Group CEO of Modon Holding said, “The launch of Nawayef Village, an integral part of the Hudayriyat masterplan, represents yet another key milestone in our efforts to redefine community living. Responding to strong demand for townhouses in Abu Dhabi, Nawayef Village will offer residents lush landscapes and a comprehensive suite of amenities and facilities, perfectly curated to provide an elevated standard of living.”

Ibrahim Al Maghribi, CEO of Modon Real Estate added: “The exclusive townhouses at Nawayef Village are not simply homes but stand as a new benchmark for community living in Abu Dhabi. Residents can expect to find all the amenities and facilities they need within reach, the highest quality of finishes and meticulous attention to detail throughout, ensuring an entirely superior living experience in one of Abu Dhabi’s most desirable locations.”

Nawayef offers community living and convenient access to the city. Comprising distinct neighborhoods, Nawayef boasts views of the Abu Dhabi skyline and the waters surrounding Hudayriyat Island. Each neighborhood caters to a diverse range of preferences and needs, with a variety of home designs available, the developer said.

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Kuwait’s Aventura (J3) urban development project’s construction is progressing with its residential component 82% complete and a year ahead of schedule, its developers have said. Situated in the 12.5sqkm Jaber Al-Ahmad City on the outskirts of Kuwait City’s capital area, the project aims to enhance Kuwait’s residential, commercial, and leisure offerings.

It is being developed by real estate developer and partner Mabanee Company under a public-private partnership (PPP) with the Public Authority for Housing Welfare (PAHW). Mabanee was selected as preferred investor to develop the project, alongside Kuwait-based regional architecture and engineering firm Pace. It includes a trio of interconnected elements – Aventura Mall, retail and entertainment hub. Aventura Residences are designed and furnished apartments catering to modern lifestyles and Townhouses, which introduces upscale, villa-inspired residences, addition to PAHW’s portfolio.

Pace’s CEO Architect Tarek Shuaib said, “Strategically positioned with its innovative design and impressive ahead-of-schedule construction, Aventura joins the major projects redefining Kuwait’s urban identity and setting a new benchmark for modern, integrated living. Pace has designed Aventura with a keen focus on efficiency, sustainability and community integration. Its harmonious mix of residential, commercial, and leisure spaces is redefining city life, setting new standards for what a modern community should be. Every aspect of this project from the residential towers to the mall and public spaces has been carefully designed to foster a sense of belonging, sustainability, and architectural excellence. The collaboration between the public and private sectors has accelerated the project’s progress while maintaining the highest standards of design and environmental responsibility.”

“Aventura is a testament to how cities can evolve when strategic vision and cutting-edge architecture come together. Aventura was on track to achieve LEED Gold certification, highlighting Pace’s commitment to sustainable construction at every stage of development. We have incorporated advanced energy-efficient systems, water conservation technologies and environment-friendly materials. Thoughtfully designed green spaces, optimised natural lighting and state-of-the-art ventilation further contribute to an eco-conscious environment. This milestone aligns with Kuwait’s broader vision for smart urban development and responsible city planning. Kuwait’s construction sector is expanding, driven by new residential and city developments,” he added.

“With project awards increasing in 2024, the country is advancing its urban landscape to meet growing housing and commercial demands. The country is undergoing a transformative era of investment and growth, and Aventura is a key player in this evolution, demonstrating how innovative architecture and strategic urban planning can redefine the way people live, work and interact. By integrating sustainable residential leasing models with a thriving commercial hub, the project fosters long-term economic resilience and a dynamic urban environment,” Shuaib concluded.

Aventura Mall is undergoing its final fit-out phase and will soon unveil 88,400sqm of shopping experiences. It will also offer a range of dining options spanning 15,600sqm, a supermarket, and 14 cinemas. The mall features expansive atriums and an open-air plaza for community and social interaction. Its contemporary façade wraps and folds itself around the mall, transforming into dynamic outdoor spaces that serve as a social and cultural landmark.

Designed with open plazas, atriums, skylights and inviting green spaces, Aventura fosters a sense of connection and community. The mall’s plaza also opens up towards the development’s residential area to connect directly with the residents and also acts as an extension of the neighbourhood park across all of Aventura. The 72 townhouses which are now 60% complete with an emphasis on spacious, villa-style comfort. They offer designed three-storey homes with private terraces, green courtyards, blend of comfort and exclusivity. The townhouses, arranged in clusters of 18 per plot offering neighbourhood living with public amenities.

A collection of 21 residential high-rise buildings, Aventura Residences is nearing completion. The complex shares a unified architectural identity and character while maintaining distinct identities in form, façade and position within the plot to distinguish each type of building. The apartments were crafted for modern urban dwellers, with just two apartments per floor and layouts that maximises space, privacy, natural light, open views and ventilation.

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