The UAE's biggest listed property company, Aldar, has joined forces with startAD, an accelerator at NYU Abu Dhabi, to roll out a programme for property technology (PropTech) start-ups.
The initiative, known as Aldar Scale Up, will choose a number of global PropTech companies to get involved in a four-month online programme. Five companies will be chosen at the end of the period to partner with Aldar on pilot projects.
Start-ups will provide ways of addressing challenges in the real estate sector such as effective energy management, the development of smart cities and the protection of biodiverse ecosystems, Aldar said in a statement on Tuesday.
The programme provides an opportunity for promising start-ups to connect with larger businesses and receive help to scale their businesses and grow in Abu Dhabi, Maan Al Awlaqi, executive director of strategy and transformation at Aldar, said.
“The PropTech sector seems to be finally gaining steam globally and is revolutionising the landscape … as this narrative evolves, it is important that companies remain agile by tapping into emerging trends and investing time and resources in property technology,” he added.
Aldar, which has a market capitalisation of almost Dh25.6bn, on Sunday announced a new group operating model that will see a parent company overseeing its two main operating divisions –investment and development. Within the development arm, a new unit known as Adnoc Ventures has been created to "incubate and nurture new business opportunities and innovation areas", the developer said.
Ten companies in total will be given the chance to pitch to a selection committee at the end of the programme. In addition to working on pilot projects with Aldar, PropTech start-ups will be offered the opportunity to work with other UAE companies, Aldar said.
"Infrastructure and construction programmes are known to have a direct link to economic growth, job creation and reduction of poverty," Ramesh Jagannathan, vice-provost for entrepreneurship at NYU Abu Dhabi, and managing director of startAD, said.
Abu Dhabi's Hub71 technology accelerator will also join the programme’s selection committee.
PropTech start-ups selected for Aldar Scale Up will also automatically be shortlisted for Hub71’s incentive programme, which offers more than $400,000 worth of equity-free subsidies including free housing, health insurance and office space for up to three years.
The construction sector needs to spend close to $57 trillion by 2030 to keep pace with global gross domestic product growth, according to the McKinsey Global Institute.
“That is more than 60 per cent of what has been spent in the last two decades. Interestingly, 40 per cent of this spend could be recouped through improved productivity by digitalisation, and embracing currently available technologies,” Mr Jagannathan said.
Company%20profile
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Company%20Profile
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MATCH INFO
Chelsea 4 (Mount 18',Werner 44', Hudson-Odoi 49', Havertz 85')
Morecambe 0
The%20specs
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more from Janine di Giovanni
MANDOOB
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Dust and sand storms compared
Sand storm
- Particle size: Larger, heavier sand grains
- Visibility: Often dramatic with thick "walls" of sand
- Duration: Short-lived, typically localised
- Travel distance: Limited
- Source: Open desert areas with strong winds
Dust storm
- Particle size: Much finer, lightweight particles
- Visibility: Hazy skies but less intense
- Duration: Can linger for days
- Travel distance: Long-range, up to thousands of kilometres
- Source: Can be carried from distant regions
THE SPECS
Engine: 3.6-litre V6
Transmission: eight-speed automatic
Power: 285bhp
Torque: 353Nm
Price: TBA
On sale: Q2, 2020
At a glance
Global events: Much of the UK’s economic woes were blamed on “increased global uncertainty”, which can be interpreted as the economic impact of the Ukraine war and the uncertainty over Donald Trump’s tariffs.
Growth forecasts: Cut for 2025 from 2 per cent to 1 per cent. The OBR watchdog also estimated inflation will average 3.2 per cent this year
Welfare: Universal credit health element cut by 50 per cent and frozen for new claimants, building on cuts to the disability and incapacity bill set out earlier this month
Spending cuts: Overall day-to day-spending across government cut by £6.1bn in 2029-30
Tax evasion: Steps to crack down on tax evasion to raise “£6.5bn per year” for the public purse
Defence: New high-tech weaponry, upgrading HM Naval Base in Portsmouth
Housing: Housebuilding to reach its highest in 40 years, with planning reforms helping generate an extra £3.4bn for public finances
Countries offering golden visas
UK
Innovator Founder Visa is aimed at those who can demonstrate relevant experience in business and sufficient investment funds to set up and scale up a new business in the UK. It offers permanent residence after three years.
Germany
Investing or establishing a business in Germany offers you a residence permit, which eventually leads to citizenship. The investment must meet an economic need and you have to have lived in Germany for five years to become a citizen.
Italy
The scheme is designed for foreign investors committed to making a significant contribution to the economy. Requires a minimum investment of €250,000 which can rise to €2 million.
Switzerland
Residence Programme offers residence to applicants and their families through economic contributions. The applicant must agree to pay an annual lump sum in tax.
Canada
Start-Up Visa Programme allows foreign entrepreneurs the opportunity to create a business in Canada and apply for permanent residence.
Dubai Bling season three
Cast: Loujain Adada, Zeina Khoury, Farhana Bodi, Ebraheem Al Samadi, Mona Kattan, and couples Safa & Fahad Siddiqui and DJ Bliss & Danya Mohammed
Rating: 1/5
The Baghdad Clock
Shahad Al Rawi, Oneworld
Killing of Qassem Suleimani
KILLING OF QASSEM SULEIMANI
Killing of Qassem Suleimani
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
Pakistan Super League
Previous winners
2016 Islamabad United
2017 Peshawar Zalmi
2018 Islamabad United
2019 Quetta Gladiators
Most runs Kamran Akmal – 1,286
Most wickets Wahab Riaz –65
What is Genes in Space?
Genes in Space is an annual competition first launched by the UAE Space Agency, The National and Boeing in 2015.
It challenges school pupils to design experiments to be conducted in space and it aims to encourage future talent for the UAE’s fledgling space industry. It is the first of its kind in the UAE and, as well as encouraging talent, it also aims to raise interest and awareness among the general population about space exploration.
COMPANY%20PROFILE%20
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FA%20Cup%20semi-final%20draw
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COMPANY%20PROFILE
%3Cp%3E%3Cstrong%3ECompany%20name%3A%3C%2Fstrong%3E%20Clinicy%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%202017%3Cbr%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Prince%20Mohammed%20Bin%20Abdulrahman%2C%20Abdullah%20bin%20Sulaiman%20Alobaid%20and%20Saud%20bin%20Sulaiman%20Alobaid%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Riyadh%3Cbr%3E%3Cstrong%3ENumber%20of%20staff%3A%3C%2Fstrong%3E%2025%3Cbr%3E%3Cstrong%3ESector%3A%3C%2Fstrong%3E%20HealthTech%3Cbr%3E%3Cstrong%3ETotal%20funding%20raised%3A%3C%2Fstrong%3E%20More%20than%20%2410%20million%3Cbr%3E%3Cstrong%3EInvestors%3A%3C%2Fstrong%3E%20Middle%20East%20Venture%20Partners%2C%20Gate%20Capital%2C%20Kafou%20Group%20and%20Fadeed%20Investment%3C%2Fp%3E%0A
'Gold'
Director:Anthony Hayes
Stars:Zaf Efron, Anthony Hayes
Rating:3/5
MOUNTAINHEAD REVIEW
Starring: Ramy Youssef, Steve Carell, Jason Schwartzman
Director: Jesse Armstrong
Rating: 3.5/5
UPI facts
More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions
How to wear a kandura
Dos
- Wear the right fabric for the right season and occasion
- Always ask for the dress code if you don’t know
- Wear a white kandura, white ghutra / shemagh (headwear) and black shoes for work
- Wear 100 per cent cotton under the kandura as most fabrics are polyester
Don’ts
- Wear hamdania for work, always wear a ghutra and agal
- Buy a kandura only based on how it feels; ask questions about the fabric and understand what you are buying
CRICKET%20WORLD%20CUP%20LEAGUE%202
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The specs
Engine: 3.0-litre six-cylinder turbo
Power: 398hp from 5,250rpm
Torque: 580Nm at 1,900-4,800rpm
Transmission: Eight-speed auto
Fuel economy, combined: 6.5L/100km
On sale: December
Price: From Dh330,000 (estimate)
Austrian Grand Prix race timings
Weekend schedule for Austrian Grand Prix - all timings UAE
Friday
Noon-1.30pm First practice
4-5.30pm Second practice
Saturday
1-2pm Final practice
4pm Qualifying
Sunday
4pm Austrian Grand Prix (71 laps)