UAE Expat Diaries

  Ras Al Khaimah, one of the seven emirates of the United Arab Emirates (UAE), has successfully issued a 10-year senior unsecured sukuk worth US$1 billion at a profit rate of 5.038%. The issuance, completed on March 5, 2025, was conducted through the Investment and Development Office (IDO) of Ras Al Khaimah, marking a significant milestone in the emirate’s economic and financial strategy. A Major Step for Ras Al Khaimah’s Economic Vision The successful issuance of the sukuk underscores Ras Al Khaimah’s strong credit profile and investor confidence in its long-term economic stability. The proceeds from the sukuk are expected to be utilized for strategic investments and infrastructure projects that align with the emirate’s broader development goals. His Highness Sheikh Saud bin Saqr Al Qasimi, Ruler of Ras Al Khaimah, has consistently emphasized the importance of sustainable growth and economic diversification. The sukuk issuance aligns with these objectives, enabling the emirate to ...

  Dubai continues to lead the way in clean energy with the expansion of the Mohammed bin Rashid Al Maktoum Solar Park . Saeed Mohammed Al Tayer , MD & CEO of DEWA , recently visited the site to assess the progress of the massive 1,800MW sixth phase of the project. Developed under the Independent Power Producer (IPP) model , this phase represents a significant investment of AED 5.5 billion , reinforcing Dubai’s commitment to renewable energy and sustainability. The solar park , the largest of its kind globally, is a key pillar of Dubai’s Clean Energy Strategy 2050 , which aims to achieve 100% clean energy by 2050 . With each phase, Dubai is moving closer to its goal of a greener, more sustainable future powered by the sun!

  The push towards sustainable mobility has gained significant momentum in recent years, with electric vehicles (EVs) emerging as a key component of this transformation. Recognizing the need for robust charging infrastructure, new EV charging stations are being strategically placed across prime parking sites managed by Parkin. These stations will operate on alternating current (AC) with a capacity of 22 kilowatts x 2, offering efficient and convenient charging solutions for EV users. The Growing Demand for EV Infrastructure As more people transition to electric mobility, the demand for accessible and fast-charging stations has skyrocketed. EV adoption is accelerating due to factors like environmental awareness, government incentives, and advancements in battery technology. However, one of the biggest challenges remains the availability of well-placed charging infrastructure to support this growing fleet. Strategic Placement for Maximum Convenience The latest initiative by Parkin en...