Category: Sales

ABU DHABI, Etihad Airways has committed to adopting a mangrove tree on behalf of every guest who books an Economy Space seat, ensuring every “space” seat sold is eventually carbon neutral.

The announcement follows the launch of the Etihad Forest, Etihad’s initiative for biodiversity, wildlife and environmental protection through a network of mangrove and other forests being established in Abu Dhabi and worldwide, Launched in February 2022, the Etihad Mangrove Forest aims to plant 182,000 mangroves by the first quarter of 2023 in Abu Dhabi, before the next phase of the programme to plant new forests in international destinations. Mangroves remove up to four times more carbon dioxide from the air than other tropical forests, helping to fight the effects of climate change such as coral bleaching and coastline degradation, and supporting biodiversity and wildlife as an essential habitat for fish, birds and other wildlife.

Through the initiative, Etihad will plant one mangrove tree in locations in Abu Dhabi for each economy space seat purchased on any Etihad Airways flight. Each mangrove planted alone will absorb up to 250kg of CO2 in its lifetime – the same amount produced by an eight-hour flight.

Mariam Al Qubaisi, Head of Sustainability, Etihad Aviation Group, said, “In addition to our sustainability ambitions, we made a commitment to helping our guests and partners travel more sustainably and empower them to make conscious choices. With the latest evolution of our sustainability programme, we’re simplifying the process, so anyone can travel sustainably.”

Every guest who books an Economy Space Seat will receive confirmation of their gifted mangrove in the Etihad Forest within ten days of flying. From the email link, guests can track, virtually visit, and see photos and other details of their tree, confirming the carbon offset for their recent travel.

Guests have the option to register their claimed tree so they can easily revisit their tree at a later day. Through the platform’s app, Etihad guests can “chat” with their chatbot-enabled tree, while also being able to track every tree with satellite maps and access data, including CO2 consumption metrics, which can be tracked.

Economy Space offers generous legroom and more space to relax. It is available only on Etihad-operated flights, and guests can reserve a seat in Economy Space while booking their ticket or at any time until check in.

Economy Space can be booked at etihad.com under “Manage my booking” when checking in online or at the airport. Etihad Guest Platinum members can reserve a seat in Economy Space for free or save 50% as an Etihad Guest Gold member.

Guests in other cabins can also take part in the Etihad Forest initiative using Etihad Guest Miles in the Reward Shop, while a range of additional options are offered to meet corporate partner requirements and provide bundled-offset options through the Corporate Conscious Choices programme.

In line with the Abu Dhabi Mangrove Programme by the Environment Agency Abu Dhabi, the Etihad Mangrove Forest is the culmination of multiple joint programmes between Etihad, Environment Agency Abu Dhabi, Jubail Island, The Storey Group and other partners to support mangrove conservation projects in the nation and develop new carbon sinks and natural resources to remove carbon from the atmosphere following our principle “Abu Dhabi for the World.”

Source: Emirates News Agency

ABU DHABI, ADNOC Drilling Company (ADNOC Drilling) today announced it has signed a sale and purchase agreement (SPA) to acquire an additional premium offshore jack-up drilling unit (rig) for $70 million.

The cost of the acquisition is part of the Company’s three-year guidance on capital expenditure and strategic plans to expand its existing business.

The sale and purchase agreement is the third signed by the Company in recent months, with an agreement for two premium drilling units signed on 30th May, and another for one premium drilling unit signed on 10th June.

All four premium offshore drilling units are expected to join the Company’s fleet by year-end, bringing ADNOC Drilling’s total offshore jack-up fleet to 28 operational units, one of the largest operating fleets in the world. The acquisition further cements ADNOC Drilling’s position as the largest owner and operator of rigs in the Middle East.

ADNOC Drilling’s amplified rig acquisition program is central to its strategic plan to substantially grow its business, significantly enhancing Company revenues and shareholder returns over the coming years.

Abdulrahman Abdullah Al Seiari, Chief Executive Officer of ADNOC Drilling, commented, “The acquisition of this additional premium drilling unit is central to our bold growth strategy and the rig will support us in delivering on our commitments to shareholders.

“Over the past 50 years, ADNOC Drilling has grown in size, stature and capability. Our position today, as owner and operator of one of the largest offshore jack-up fleets in the world is testament to the expertise of our people and the visionary leadership of the UAE.”

Following its initial public offering in October 2021, ADNOC Drilling has demonstrated strong and resilient growth. In the first half of 2022 the Company delivered revenue of $1.27 billion, a 13% increase year-on-year, with $379 million in net income – a 34% increase.

 

Source: Emirates News Agency

SHARJAH, Sharjah Real Estate Registration Department (SRERD) has revealed that total transactions carried out during the past month amounted to 2,417 transactions across 71 different areas distributed over the Emirate of Sharjah.

The transactions are broken down as follows: 588 sales transactions, 338 mortgage transactions, and 1,491 classified as other miscellaneous transactions.

SRERD monthly report showed percentages of real estate transactions; sales transactions were recorded at 24.3 percent, while mortgage and other miscellaneous transactions hit 14 percent and 61.7 percent, respectively.

Abdulaziz Rashid Al Saleh, Director of the Sharjah Real Estate Registration Department, said, “Total trading volume this past July 2022 amounted to AED 1.4 billion; the number of mortgage transactions reached 338 in total, valued at AED 487 million, solidifying that the Department is working consistently on its vision to increase investments in the Emirate of Sharjah. Furthermore, the (SRERD) seeks to be a strong and confident presence in the investment and real estate sector, by implementing its mission through various targeted programmes and strategies, in addition to working diligently to activate various opportunistic channels and mechanisms of communication and interaction with investors. We hope to continue contributing to quality real estate provisions in Sharjah, and are working hard to enhance attracting investment to this sector, to ultimately push the wheel of economic growth to cover wider surrounding areas.”

He added, “The results of July 2022 confirm the accelerated progress, growth, and demand for real estate in the Emirate of Sharjah. The (SRERD) upholds its vision of transparency on all fronts, as it aligns with our institutional volumes. We commit to striving towards excellence in line with Sharjah’s economic vision to witness a remarkable turnout from investors, and to set the stage for showcasing Sharjah as a safe and comfortable locality to thrive and invest in.”

The Department’s statistics indicated that the Muwaileh Commercial area boasted the highest number of sales transactions in the Emirate of Sharjah, amounting to 266 transactions in total. For further breakdown based on highest area in terms of trading volumes per city, the report ranked Muwaileh Commercial as the highest in Sharjah, Al Bardi 2 as the highest in Khorfakkan, Blida in the central region, and Al Baraha in Kalba city.

The report also indicated that the total number of sales transactions executed, categorised by type of property, was 588 sales in total. Among these, vacant lands within the Emirate of Sharjah showed 145 transactions, while 126 transactions took place on built-up land. Additionally, 317 transactions were related to detached towers.

The total traded area amounted to 2.8 million square feet and included residential, commercial, industrial, and agricultural land.

The report confirmed that the top four investment areas in Sharjah were: Muwailih Commercial, Al Khan, Al Sajaa Industrial, and Hoshi. In Khorfakkan, the top areas cited for investment purposes were: Al Zubarah Industrial, Al Bardi 2, Al Harrai industrial area, and Al Zubarah.

In the central region, trades focused on the city of Qasimia, Al Balida, Khedira 2, and Al-Taybeh 2 area, while in Kalba city, Industrial, Al Baraha, Sur Kalba commercial, and Al Bardi took the lead.

Source: Emirates News Agency

VIENNA, The price of OPEC basket of thirteen crudes stood at US$98.72 a barrel on Monday, compared with US$99.66 the previous Friday, according to OPEC Secretariat calculations.

The OPEC Reference Basket of Crudes is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Zafiro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Iran), Basrah Medium (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela).

Source: Emirates News Agency