Dubal Holding and Imdaad co-invest in sustainable projects
Dubal Holding has previously said it is looking for investment opportunities to capitalise on innovative initiatives that encourage the transition of the UAE into a sustainable, green economy
Dubal Holding and Imdaad have signed a a memorandum of understanding (MoU) to explore and invest in projects aimed at fostering recycling and sustainability in the UAE.
The MoU will see the two entities establish a cooperative institutional framework to examine new initiatives for environmentally friendly projects in the UAE, including co-investing and development of projects that will support the Government of Dubai’s Sustainability Initiatives, a statement said, adding that the agreement was signed by Jamal Abdulla Lootah, Group CEO of Imdaad, and Ahmad Hamad Bin Fahad, CEO of Dubal Holding.
Commenting on the partnership, Lootah said, “As a facilities management industry leader setting benchmarks in service excellence, product innovation, and community development, Imdaad has a stellar track record in working toward sustainability through eco-friendly offerings and practices as well as various efforts to raise environmental awareness.”
In March 2022, Imdaad said it had secured its third major FM contract with Dubai Municipality and, in April 2022, it said it won another contract for the cleaning of several of Dubai’s industrial areas.
“We seek to further this commitment through our new partnership with Dubal Holding building on our long-standing relationship. The new wide-ranging waste treatment, recycling, and energy recovery projects planned at our FARZ facility will contribute to the UAE’s sustainability efforts and green development goals in line with the UAE Circular economy Policy, Integrated Waste Management Strategy 2021-2041, and Dubai Clean Energy Strategy 2050.”
Dubal Holding has previously said that it is looking for investment opportunities to capitalise on innovative initiatives that encourage the transition of the UAE into a sustainable, green economy.
The company said that it has undertaken a number of sustainable projects since 2014 to encourage the development of sustainable technology, and aid in the creation of a circular economy, in accordance with the directives of the UAE’s leadership to enhance economic diversification.
In May 2022, DUBAL Holding and Nature Alu said they were collaborating to set up the UAE’s first high purity aluminium facility.
Following the signing of the MoU, Fahad added, “At Dubal Holding, we are always working to foster sustainable technologies in order to facilitate the UAE’s ambition to achieve a circular economy. This MoU is an important step that comes as part of our efforts to explore new avenues which will boost the nation’s economy and overall development in the sustainability sector.”
He concluded, “By partnering with Imdaad, we aim to assist Dubai in its objective of sending zero waste to the landfills by 2030. Furthermore, this collaboration is in line with our commitment to evaluate and fund initiatives and projects that help achieve Dubai Industrial Strategy 2030 and Dubai Energy Strategy 2050, positioning the emirate as one of the leading in this emerging field, globally.”
