The Mohammed bin Rashid Aerospace Hub (MBRAH) in Dubai South has launched its suppliers' complex, the first vertical aerospace complex in the region, as the aviation industry continues to recover from the coronavirus slowdown.
The hub houses 86 leasable units for maintenance services companies, aircraft parts traders and aerospace and drone companies, with plans to expand further.
The first phase of the complex attracted about Dh60 million ($16.33m) in investment, Mohammed bin Rashid Aerospace Hub chief executive Tahnoon Saif told The National on Tuesday at its soft opening.
He said there would be two more phases of the project.
"What we have built in phase one is unique because of the utilisation of land — the small and medium companies in aerospace, they don't necessarily require big hangars, they require easy and affordable access to the industry," Mr Saif said.
"They don't need [a] 1,000-square metre space or [to be] 12 metres high. They need convenience and a place for their aerospace parts, corridors, elevators and doors from which they can access their parts. That is the backbone and key differentiator of this building from other buildings."
The building is already "40 per cent leased" and there is demand for it to be "50 per cent leased by the end of the year", Mr Saif said.
"We are positive that we will need one or two more buildings in the next five years and have reserved the area for similar development."
The overall aerospace complex is about 30 per cent occupied and developed on seven square kilometres of land adjacent to Al Maktoum International Airport, Mr Saif said.
"Imagine when that [Al Maktoum International Airport] is fully operational," he said. "This hub will be 100 per cent occupied, maybe sooner. A lot of the companies now serve DXB clients or some outside the UAE. We are expecting it to run out of space and facilities when Al Maktoum International is fully operational."
Middle East airlines will require almost 3,000 new planes in the next 20 years, US plane maker Boeing says.
This is "very promising for maintenance suppliers", Mr Saif said.
"Things like the coronavirus and Ukraine-Russia war, they have an impact but when they end, things will pick up again," he said.
"Our approach is to be very proactive and prepared for the next growth. We know that with coronavirus, things were paralysed and they picked up slightly, and now the data says things will go back to normal next year in the second half. Whatever has been frozen, there is a time or period where we need those parts delivered and available to the airlines."
Companies setting up at the complex will benefit from an incubator within the development to help them expand.
MBRAH will offer incentives and packages for interested companies to support them, it said in a statement.
Industry segments covered by the complex include maintenance, repair, and operating supplies, aero-logistics, spare parts trading, drones, space sector, software and avionics.
The hub counts among its tenants the likes of Boeing, General Electric and Lufthansa Technik.
The candidates
Dr Ayham Ammora, scientist and business executive
Ali Azeem, business leader
Tony Booth, professor of education
Lord Browne, former BP chief executive
Dr Mohamed El-Erian, economist
Professor Wyn Evans, astrophysicist
Dr Mark Mann, scientist
Gina MIller, anti-Brexit campaigner
Lord Smith, former Cabinet minister
Sandi Toksvig, broadcaster
Real estate tokenisation project
Dubai launched the pilot phase of its real estate tokenisation project last month.
The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.
Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.
Company info
Company name: Entrupy
Co-founders: Vidyuth Srinivasan, co-founder/chief executive, Ashlesh Sharma, co-founder/chief technology officer, Lakshmi Subramanian, co-founder/chief scientist
Based: New York, New York
Sector/About: Entrupy is a hardware-enabled SaaS company whose mission is to protect businesses, borders and consumers from transactions involving counterfeit goods.
Initial investment/Investors: Entrupy secured a $2.6m Series A funding round in 2017. The round was led by Tokyo-based Digital Garage and Daiwa Securities Group's jointly established venture arm, DG Lab Fund I Investment Limited Partnership, along with Zach Coelius.
Total customers: Entrupy’s customers include hundreds of secondary resellers, marketplaces and other retail organisations around the world. They are also testing with shipping companies as well as customs agencies to stop fake items from reaching the market in the first place.
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BULKWHIZ PROFILE
Date started: February 2017
Founders: Amira Rashad (CEO), Yusuf Saber (CTO), Mahmoud Sayedahmed (adviser), Reda Bouraoui (adviser)
Based: Dubai, UAE
Sector: E-commerce
Size: 50 employees
Funding: approximately $6m
Investors: Beco Capital, Enabling Future and Wain in the UAE; China's MSA Capital; 500 Startups; Faith Capital and Savour Ventures in Kuwait
At a glance
Fixtures All matches start at 9.30am, at ICC Academy, Dubai. Admission is free
Thursday UAE v Ireland; Saturday UAE v Ireland; Jan 21 UAE v Scotland; Jan 23 UAE v Scotland
UAE squad Rohan Mustafa (c), Ashfaq Ahmed, Ghulam Shabber, Rameez Shahzad, Mohammed Boota, Mohammed Usman, Adnan Mufti, Shaiman Anwar, Ahmed Raza, Imran Haider, Qadeer Ahmed, Mohammed Naveed, Amir Hayat, Zahoor Khan
How to apply for a drone permit
- Individuals must register on UAE Drone app or website using their UAE Pass
- Add all their personal details, including name, nationality, passport number, Emiratis ID, email and phone number
- Upload the training certificate from a centre accredited by the GCAA
- Submit their request
What are the regulations?
- Fly it within visual line of sight
- Never over populated areas
- Ensure maximum flying height of 400 feet (122 metres) above ground level is not crossed
- Users must avoid flying over restricted areas listed on the UAE Drone app
- Only fly the drone during the day, and never at night
- Should have a live feed of the drone flight
- Drones must weigh 5 kg or less
Avatar: Fire and Ash
Director: James Cameron
Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana
Rating: 4.5/5
The specs
Engine: 4.0-litre flat-six
Torque: 450Nm at 6,100rpm
Transmission: 7-speed PDK auto or 6-speed manual
Fuel economy, combined: 13.8L/100km
On sale: Available to order now
Mubadala World Tennis Championship 2018 schedule
Thursday December 27
Men's quarter-finals
Kevin Anderson v Hyeon Chung 4pm
Dominic Thiem v Karen Khachanov 6pm
Women's exhibition
Serena Williams v Venus Williams 8pm
Friday December 28
5th place play-off 3pm
Men's semi-finals
Rafael Nadal v Anderson/Chung 5pm
Novak Djokovic v Thiem/Khachanov 7pm
Saturday December 29
3rd place play-off 5pm
Men's final 7pm
Groom and Two Brides
Director: Elie Semaan
Starring: Abdullah Boushehri, Laila Abdallah, Lulwa Almulla
Rating: 3/5