The full acquisition of Dubai Creek Harbour

The full acquisition of Dubai Creek Harbour

  • AX News
  • The full acquisition of Dubai Creek Harbour, Federal Authority for Identity and net profit in H1 2022

Emaar announced the full acquisition of Dubai Creek Harbour from Dubai Holding for a considerable amount of $2 billion

The amount will be paid equally in cash and shares of Emaar, thus making Dubai Holding the second largest shareholder of Emaar. The deal is expected to be closed on September 27, 2022. Earlier, Emaar announced a 240.7% profit growth for H1 2022.

Federal Authority for Identity, Citizenship, Customs and Ports Security (ICP) announced

From September 1, 2022, the UAE will issue new generation passports. The new passports will use:

  • Laser technologies
  • Polycarbonate instead of paper for the identification page

Dubai Electricity and Water Authority (DEWA) H1 2022 net profit climbed 33% ($898.4 million)

Compared to H1 2021 revenues grown up by 15% to $3.3 billion. Earlier, DEWA began using drones to ensure the quality of desalinated water.

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