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The project, which forms part of the Abu Dhabi Road Lighting Programme, includes the finance, supply, installation, operation and maintenance of 135,742 LED energy-efficient luminaires in the Emirate of Abu Dhabi. It will result in significant electricity savings of almost 2,400 million kWh, equivalent to a reduction of approximately 76 percent in power consumption, over the 12-year concession period.
The project is being procured in accordance with the PPP Law, ADIO’s Partnership Projects Guidebook and its Environmental, Social and Governance (ESG) Policy.
ADIO has now concluded its bid evaluation process as part of the Request for Qualification (RfQ) phase and has pre-qualified the following companies: CRCCI (China Railway Construction Corporation International); Dussman Gulf; DUTCO Construction; EDF (Electricite de France); EESL/Hansa Energy Solutions; Orascom; Saif Bin Darwish; Shikun and Binui; and ST Engineering.
The companies hail from eight countries, including the UAE, China, Egypt, France, Germany, India, Israel and Singapore.
Pre-qualified bidders will be invited to participate in the next stage of the procurement process and submit detailed proposals in response to a Request for Proposal (RfP).
ADIO is the central Abu Dhabi government hub managing the facilitation, development and procurement of all infrastructure projects delivered through a PPP framework in Abu Dhabi, in line with its mandate to support private sector investment in the emirate. Find out more about ADIO’s infrastructure projects here: https://www.investinabudhabi.gov.ae/en/Infrastructure-Partnerships
DMT aims to encourage investment in Abu Dhabi through partnerships with the private sector. It facilitates projects related to its expertise in cooperation with strategic partners to ensure integration and knowledge exchange.In collaboration with Department of Municipal and Transport, ADIO has pre-qualified nine companies for Phase 2 of Road Lighting LED PPP project tender.
The project, which forms part of the Abu Dhabi Road Lighting Programme, includes the finance, supply, installation, operation and maintenance of 135,742 LED energy-efficient luminaires in the Emirate of Abu Dhabi. It will result in significant electricity savings of almost 2,400 million kWh, equivalent to a reduction of approximately 76 percent in power consumption, over the 12-year concession period.
The project is being procured in accordance with the PPP Law, ADIO’s Partnership Projects Guidebook and its Environmental, Social and Governance (ESG) Policy.
ADIO has now concluded its bid evaluation process as part of the Request for Qualification (RfQ) phase and has pre-qualified the following companies: CRCCI (China Railway Construction Corporation International); Dussman Gulf; DUTCO Construction; EDF (Electricite de France); EESL/Hansa Energy Solutions; Orascom; Saif Bin Darwish; Shikun and Binui; and ST Engineering.
The companies hail from eight countries, including the UAE, China, Egypt, France, Germany, India, Israel and Singapore.
Pre-qualified bidders will be invited to participate in the next stage of the procurement process and submit detailed proposals in response to a Request for Proposal (RfP).
ADIO is the central Abu Dhabi government hub managing the facilitation, development and procurement of all infrastructure projects delivered through a PPP framework in Abu Dhabi, in line with its mandate to support private sector investment in the emirate. Find out more about ADIO’s infrastructure projects here: https://www.investinabudhabi.gov.ae/en/Infrastructure-Partnerships
DMT aims to encourage investment in Abu Dhabi through partnerships with the private sector. It facilitates projects related to its expertise in cooperation with strategic partners to ensure integration and knowledge exchange.In collaboration with Department of Municipal and Transport, ADIO has pre-qualified nine companies for Phase 2 of Road Lighting LED PPP project tender.
ADIO is casting a wide net in its support for aquaculture and promoting innovation that addresses global food security challenges. Pure Salmon joins other AgTech companies, including FreshToHome, that have partnered with ADIO under the same programme to bring aquaculture expertise to advance food sustainability from Abu Dhabi.
H.E. Dr. Tariq Bin Hendi, Director General of ADIO, said: “Over the last year, Abu Dhabi’s AgTech sector has experienced exponential growth, led by rapid technological developments that are enabling sustainable agriculture and farming practices to take root in arid and desert climates. The introduction of Pure Salmon’s pioneering technology and knowledge to Abu Dhabi’s ecosystem will enhance the emirate’s aquaculture capabilities and create a hub from which new agriculture solutions can proliferate. ADIO is committed to supporting businesses aligned with our mission of advancing regional and global innovation.”
Her Excellency Dr. Shaikha Salem Al Dhaheri, Secretary General of the Environment Agency – Abu Dhabi (EAD), said: “The aquaculture sector has been identified as a priority sector for development by the Government of Abu Dhabi. In alignment with government commitment, EAD launched the sustainable aquaculture policy of Abu Dhabi Emirate in 2019 in collaboration with relevant federal and local entities. One of the key initiatives seeks to encourage economic investment in the sector, thereby reducing pressure on the UAE’s severely overexploited fisheries, providing meaningful employment and generating wealth for citizens by producing safe, wholesome and high-quality seafood products. We are excited to welcome Pure Salmon to Abu Dhabi and look forward to celebrating its sustainable impact on the aquaculture ecosystem.”
The wave of aquaculture development in Abu Dhabi is spearheaded by EAD, which aims to accelerate the growth of a competitive local aquaculture industry that contributes to food security and economic growth. Abu Dhabi’s aquaculture sector seeks to satisfy market demand using sustainable technologies that preserve biodiversity and ensure the protection of healthy, productive and resilient ecosystems.
Pure Salmon is a portfolio company of private equity funds managed by 8F Asset Management. It uses Recirculating Aquaculture System (RAS) technology to sustainably farm clean, fresh, traceable and healthy Atlantic salmon in close proximity to end consumers, which considerably reduces transport and carbon footprint, minimises the negative impact on the oceans’ ecosystems, and significantly lowers resource consumption.
The company’s Abu Dhabi headquarters will manage global production facilities in Poland, Japan, USA and France. ADIO’s partnership enables Pure Salmon to hire world-class talent and expand its operations as it makes headway towards becoming the largest global sustainable salmon producer with its target production of 260,000 tonnes per year. In addition, Pure Salmon will establish academic collaborations based on the proprietary Pure Salmon Academy knowledge base to share its aquaculture know-how and capabilities within the Abu Dhabi ecosystem.
Stephane Farouze, Chairman and Founder of 8F Asset Management and Board Director of Pure Salmon, said, “We are proud and grateful to have ADIO as a strategic partner in the development of Pure Salmon. Setting up Pure Salmon’s global headquarters in Abu Dhabi will enable the growth of a local team that will advance sustainable economic solutions and establish the UAE as an industry leader. With ADIO’s support, Pure Salmon will advance towards its goal of supplying the world with nutritious, healthy and locally produced protein.”Pure Salmon, a global land-based salmon aquaculture company, will strengthen Abu Dhabi’s agriculture technology (AgTech) ecosystem with the establishment of its headquarters in the emirate. A partnership between the Abu Dhabi Investment Office (ADIO) and Pure Salmon will see the company receive financial and non-financial incentives to expand local food sustainability efforts with its proven salmon farming technology. The partnership is part of ADIO’s AED 2 billion Innovation Programme to help innovation-driven companies achieve long-term global success from Abu Dhabi.
ADIO is casting a wide net in its support for aquaculture and promoting innovation that addresses global food security challenges. Pure Salmon joins other AgTech companies, including FreshToHome, that have partnered with ADIO under the same programme to bring aquaculture expertise to advance food sustainability from Abu Dhabi.
H.E. Dr. Tariq Bin Hendi, Director General of ADIO, said: “Over the last year, Abu Dhabi’s AgTech sector has experienced exponential growth, led by rapid technological developments that are enabling sustainable agriculture and farming practices to take root in arid and desert climates. The introduction of Pure Salmon’s pioneering technology and knowledge to Abu Dhabi’s ecosystem will enhance the emirate’s aquaculture capabilities and create a hub from which new agriculture solutions can proliferate. ADIO is committed to supporting businesses aligned with our mission of advancing regional and global innovation.”
Her Excellency Dr. Shaikha Salem Al Dhaheri, Secretary General of the Environment Agency – Abu Dhabi (EAD), said: “The aquaculture sector has been identified as a priority sector for development by the Government of Abu Dhabi. In alignment with government commitment, EAD launched the sustainable aquaculture policy of Abu Dhabi Emirate in 2019 in collaboration with relevant federal and local entities. One of the key initiatives seeks to encourage economic investment in the sector, thereby reducing pressure on the UAE’s severely overexploited fisheries, providing meaningful employment and generating wealth for citizens by producing safe, wholesome and high-quality seafood products. We are excited to welcome Pure Salmon to Abu Dhabi and look forward to celebrating its sustainable impact on the aquaculture ecosystem.”
The wave of aquaculture development in Abu Dhabi is spearheaded by EAD, which aims to accelerate the growth of a competitive local aquaculture industry that contributes to food security and economic growth. Abu Dhabi’s aquaculture sector seeks to satisfy market demand using sustainable technologies that preserve biodiversity and ensure the protection of healthy, productive and resilient ecosystems.
Pure Salmon is a portfolio company of private equity funds managed by 8F Asset Management. It uses Recirculating Aquaculture System (RAS) technology to sustainably farm clean, fresh, traceable and healthy Atlantic salmon in close proximity to end consumers, which considerably reduces transport and carbon footprint, minimises the negative impact on the oceans’ ecosystems, and significantly lowers resource consumption.
The company’s Abu Dhabi headquarters will manage global production facilities in Poland, Japan, USA and France. ADIO’s partnership enables Pure Salmon to hire world-class talent and expand its operations as it makes headway towards becoming the largest global sustainable salmon producer with its target production of 260,000 tonnes per year. In addition, Pure Salmon will establish academic collaborations based on the proprietary Pure Salmon Academy knowledge base to share its aquaculture know-how and capabilities within the Abu Dhabi ecosystem.
Stephane Farouze, Chairman and Founder of 8F Asset Management and Board Director of Pure Salmon, said, “We are proud and grateful to have ADIO as a strategic partner in the development of Pure Salmon. Setting up Pure Salmon’s global headquarters in Abu Dhabi will enable the growth of a local team that will advance sustainable economic solutions and establish the UAE as an industry leader. With ADIO’s support, Pure Salmon will advance towards its goal of supplying the world with nutritious, healthy and locally produced protein.”Pure Salmon, a global land-based salmon aquaculture company, will strengthen Abu Dhabi’s agriculture technology (AgTech) ecosystem with the establishment of its headquarters in the emirate. A partnership between the Abu Dhabi Investment Office (ADIO) and Pure Salmon will see the company receive financial and non-financial incentives to expand local food sustainability efforts with its proven salmon farming technology. The partnership is part of ADIO’s AED 2 billion Innovation Programme to help innovation-driven companies achieve long-term global success from Abu Dhabi.
With the formation of the United Arab Emirates (UAE) in 1971, the first 50 years of Abu Dhabi’s development have been interwoven with the fabric of well-directed sustainability and socially responsible governance.
The emirate’s journey in its first half a century demonstrates the value of strategic, government-directed policies in paving the way for a variety of fields, with the private sector working alongside the government to raise the bar higher.
Today, Abu Dhabi is one of the first cities in the world to incorporate ESG requirements in its governance and business models.
This comes with a deep understanding that integrating ESG considerations helps companies in the emirate identify a broader range of opportunities and risks, drives performance gains and increases competitiveness both locally and globally.
The first 50 years of transformation
The UAE’s 50th anniversary not only commemorates the country’s progression but also speaks to the care that was put into paving the road for the next fifty years.
From its early days, Abu Dhabi has built its outlook on progression through sustainability, care for nature, future-oriented innovation and deep respect for humanity.
The Abu Dhabi government has incorporated long-term impact into its strategic vision, forging a futuristic business ecosystem and an environmentally conscious society.
Responsible investment in technology-led companies, infrastructure and associated procurement have had a positive impact on Abu Dhabi’s progression.
Today, ESG is embedded in the socio-economic fabric of the emirate and the country.
Across Abu Dhabi, various government entities are following up with initiatives that translate overarching policies into corporate action. Its addition to the emirate’s journey has been formalised with the creation of the UAE Vision 2021, the Abu Dhabi Economic Vision 2030, the UAE Securities and Commodities Authority Master Plan for Sustainable Markets, Abu Dhabi Sustainable Finance Declaration and ADIOs ESG policy.
Under the Abu Dhabi Economic Vision 2030, the emirate has deployed extensive efforts towards advancing sustainability in line with the UN Sustainable Development Goals (SDGs):
- ADGM’s Abu Dhabi Sustainable Finance Declaration calls for collective action to create a thriving sustainable finance industry, backed by 40 financial institutions.
- ADX has published a disclosure guidance to support the voluntary disclosure of ESG information by listed companies.
- In 2020, Etihad Airways issued a AED 2.2 billion ‘green’ sukuk focused on carbon neutrality, with the funds allowing the UAE’s flag carrier to make great strides towards its sustainability targets.
ESG as ADIO’s business blueprint
At ADIO, we are providing a boost to companies that have embedded sustainability principles, and inspiring others that have yet to set ESG standards. We aim to foster opportunities for local and international companies with sustainability at the heart of their work.
ADIO recently launched a policy for partners to integrate ESG standards into business decision-making under the new PPP framework and Innovation Programme.
ADIO encourages applicants to its programmes to focus on the potential for innovation, disruption, and value creation posed by ESG activities in the marketplace, such as:
- Technologies that accelerate the sharing economy
- Infrastructure in cities to support increasing levels of urbanisation
- Solutions for a low carbon world including energy storage, energy efficiency and renewable energy generation
- Access to education, affordable housing and financial services to decrease inequality
- Health and well-being, including healthy food consumption, activity services and healthy lifestyle choices
In 2020, ADIO’s Innovation Programme supported seven leading agriculture technology companies pursuing cutting-edge projects to solve global food security challenges. We committed AED 1b to leading AgTech companies, including Madar Farms, Responsive Drip Irrigation (RDI), AeroFarms, FreshtoHome and PureHarvest.
This was followed by ADIO’s further efforts in ‘greening the desert’. By partnering with Nanoracks – the world’s largest provider of commercial access to space stations, we added a realm of new capabilities to Abu Dhabi’s ecosystem across land, sea and space.
These investments are focussed on the future of food and agriculture and aim to turn the desert green while creating a sustainable platform for food production on a local, regional and global level.
Conclusion
Responsible investment in technology-led companies, infrastructure and associated procurement is an opportunity to create a positive impact on the economy, the environment and society.
Looking ahead at the next 50 years, I am confident that Abu Dhabi’s ESG vision will propel regional development across the entire value chain with more companies joining the movement that will result in increased ESG dividends that benefit the people and environment of Abu Dhabi and beyond.
Sources:
ADIO’s ESG value proposition paper (June 2020)
Jamie Levy’s op-ed on ESG
https://corpgov.law.harvard.edu/2020/03/02/top-10-esg-trends-for-the-new-decade/
https://www.gbm.hsbc.com/solutions/sustainable-financing?pid=HBEU:BW:BPFP21:CAM:XAW:CAM:0121:001:INSIGHT:
https://www.gbm.hsbc.com/solutions/sustainable-financing/sfi-survey-middle-east
https://www.investopedia.com/news/history-impact-investing/
https://www.forbes.com/sites/betsyatkins/2020/06/08/demystifying-esgits-history--current-status/?sh=2e33a4282cdd
http://www.gsi-alliance.org/trends-report-2018/
With the formation of the United Arab Emirates (UAE) in 1971, the first 50 years of Abu Dhabi’s development have been interwoven with the fabric of well-directed sustainability and socially responsible governance.
The emirate’s journey in its first half a century demonstrates the value of strategic, government-directed policies in paving the way for a variety of fields, with the private sector working alongside the government to raise the bar higher.
Today, Abu Dhabi is one of the first cities in the world to incorporate ESG requirements in its governance and business models.
This comes with a deep understanding that integrating ESG considerations helps companies in the emirate identify a broader range of opportunities and risks, drives performance gains and increases competitiveness both locally and globally.
The first 50 years of transformation
The UAE’s 50th anniversary not only commemorates the country’s progression but also speaks to the care that was put into paving the road for the next fifty years.
From its early days, Abu Dhabi has built its outlook on progression through sustainability, care for nature, future-oriented innovation and deep respect for humanity.
The Abu Dhabi government has incorporated long-term impact into its strategic vision, forging a futuristic business ecosystem and an environmentally conscious society.
Responsible investment in technology-led companies, infrastructure and associated procurement have had a positive impact on Abu Dhabi’s progression.
Today, ESG is embedded in the socio-economic fabric of the emirate and the country.
Across Abu Dhabi, various government entities are following up with initiatives that translate overarching policies into corporate action. Its addition to the emirate’s journey has been formalised with the creation of the UAE Vision 2021, the Abu Dhabi Economic Vision 2030, the UAE Securities and Commodities Authority Master Plan for Sustainable Markets, Abu Dhabi Sustainable Finance Declaration and ADIOs ESG policy.
Under the Abu Dhabi Economic Vision 2030, the emirate has deployed extensive efforts towards advancing sustainability in line with the UN Sustainable Development Goals (SDGs):
- ADGM’s Abu Dhabi Sustainable Finance Declaration calls for collective action to create a thriving sustainable finance industry, backed by 40 financial institutions.
- ADX has published a disclosure guidance to support the voluntary disclosure of ESG information by listed companies.
- In 2020, Etihad Airways issued a AED 2.2 billion ‘green’ sukuk focused on carbon neutrality, with the funds allowing the UAE’s flag carrier to make great strides towards its sustainability targets.
ESG as ADIO’s business blueprint
At ADIO, we are providing a boost to companies that have embedded sustainability principles, and inspiring others that have yet to set ESG standards. We aim to foster opportunities for local and international companies with sustainability at the heart of their work.
ADIO recently launched a policy for partners to integrate ESG standards into business decision-making under the new PPP framework and Innovation Programme.
ADIO encourages applicants to its programmes to focus on the potential for innovation, disruption, and value creation posed by ESG activities in the marketplace, such as:
- Technologies that accelerate the sharing economy
- Infrastructure in cities to support increasing levels of urbanisation
- Solutions for a low carbon world including energy storage, energy efficiency and renewable energy generation
- Access to education, affordable housing and financial services to decrease inequality
- Health and well-being, including healthy food consumption, activity services and healthy lifestyle choices
In 2020, ADIO’s Innovation Programme supported seven leading agriculture technology companies pursuing cutting-edge projects to solve global food security challenges. We committed AED 1b to leading AgTech companies, including Madar Farms, Responsive Drip Irrigation (RDI), AeroFarms, FreshtoHome and PureHarvest.
This was followed by ADIO’s further efforts in ‘greening the desert’. By partnering with Nanoracks – the world’s largest provider of commercial access to space stations, we added a realm of new capabilities to Abu Dhabi’s ecosystem across land, sea and space.
These investments are focussed on the future of food and agriculture and aim to turn the desert green while creating a sustainable platform for food production on a local, regional and global level.
Conclusion
Responsible investment in technology-led companies, infrastructure and associated procurement is an opportunity to create a positive impact on the economy, the environment and society.
Looking ahead at the next 50 years, I am confident that Abu Dhabi’s ESG vision will propel regional development across the entire value chain with more companies joining the movement that will result in increased ESG dividends that benefit the people and environment of Abu Dhabi and beyond.
Sources:
ADIO’s ESG value proposition paper (June 2020)
Jamie Levy’s op-ed on ESG
https://corpgov.law.harvard.edu/2020/03/02/top-10-esg-trends-for-the-new-decade/
https://www.gbm.hsbc.com/solutions/sustainable-financing?pid=HBEU:BW:BPFP21:CAM:XAW:CAM:0121:001:INSIGHT:
https://www.gbm.hsbc.com/solutions/sustainable-financing/sfi-survey-middle-east
https://www.investopedia.com/news/history-impact-investing/
https://www.forbes.com/sites/betsyatkins/2020/06/08/demystifying-esgits-history--current-status/?sh=2e33a4282cdd
http://www.gsi-alliance.org/trends-report-2018/
ADIO has awarded Florin Court and Tribe competitive financial incentives and will support the companies via its non-financial incentive offering throughout the partnership. The companies will also benefit from Abu Dhabi’s advanced financial services infrastructure, internationally competitive regulatory framework, access to capital and local talent, an extensive R&D support network and a time zone that favourably overlaps with key global markets.
H.E. Dr. Tariq Bin Hendi, Director General of ADIO, said: “The rapid pace of development in Abu Dhabi’s booming financial services sector gives rise to novel opportunities and creates access for existing and new players in the market. The emirate has emerged as a global financial hub, a position that is set to strengthen with the introduction of Florin Court and Tribe’s global expansion. ADIO’s partnerships with the two sector leaders will propel their growth from Abu Dhabi, as they capitalise on the emirate’s enabling business environment to pursue new strategies and expansion.”
Florin Court will establish its new trading, research and operations hub in the Abu Dhabi Global Market (ADGM), the emirate’s international financial centre (IFC). Tribe is pursuing broader global expansion from its headquarters in ADGM. The partnerships strengthen the UAE capital’s status as a financial hub, which is already home to three of the largest sovereign wealth funds in the world, a thriving stock exchange and an award-winning IFC.
Juma Al Hameli, Chief Strategy & Business Development Officer at ADGM said: “ADIO’s partnerships with Florin Court and Tribe is testament to the strength of ADGM’s holistic business ecosystem which enables business to thrive through a collaborative approach. With our progressive regulatory and licensing regime, we are proud to make tangible contributions to the realisation of Abu Dhabi’s great investment potential. We look forward to seeing the new partnerships flourish and will continue to develop pathways for companies and entrepreneurs to achieve their aspirations."
Partnerships with Florin Court and Tribe
Florin Court, a leading hedge fund manager specialising in the quantitative trading of alternative markets, was established in London, as part of Brummer & Partners. Since its inception in 2017, the award-wining Florin Court Capital Programme has returned 44% to institutional investors by using sophisticated mathematical trading systems on 350 markets as diverse as electricity and emissions, emerging market interest rates, Chinese commodities, and emerging market and digital currencies. Under the partnership, Florin Court will set up its trading, research and operations centre at ADGM, from where it will also establish a global internship programme and an academic engagement programme in mathematics, statistics, machine learning and finance.
Dr. Douglas Greenig, CEO and Co-founder of Florin Court, said, “At Florin Court, we strive to innovate - applying the best techniques from data science to alternative markets that are off the beaten path to give our investors better returns and superior risk control. Abu Dhabi was the first choice for our new technology, research and trading centre. It is an outstanding place for innovation and growth. It is a city on the move. We want to be part of Abu Dhabi’s success story as a global financial hub. We are grateful for the strong support of ADIO and look forward to taking the next steps in our growth in one of the world’s most dynamic cities.”
Tribe is an active financial advisor and developer that was founded in the UAE in 2011 and headquartered out of ADGM since 2016. It improves the sustainability of communities by delivering infrastructure project finance solutions for both governments and the private sector. Tribe’s partnership with ADIO builds on its longstanding commitment to Abu Dhabi as a business hub, from which it connects to its key markets in the Middle East, Europe, Asia and Australia. The partnership will enable Tribe to expand its existing financial advisory team and assist with the launch of its recently established funds management offering. In addition, it will engage with Abu Dhabi’s local talent through training courses and overseas secondments, and educate global investors on the progress of the infrastructure and public-private partnership (PPP) project landscape in the emirate.
Peter McCreanor, CEO of Tribe Infrastructure Group, said: “Since our inception, our goal has been to deliver bespoke advisory and development solutions to advance the critical infrastructure needs of government and the private sector in our target markets. Since our launch in the Emirate of Abu Dhabi, from our base at ADGM we have committed to developing sustainable infrastructure and energy security solutions. We continue to support the acceleration of the energy transition in the UAE and abroad through our partnership with ADIO. We see strong long-term growth potential in these markets and believe our bespoke solutions and partnerships will drive growth for the UAE and beyond.”
In addition to the Financial Services sector, ADIO’s AED 2 billion Innovation Programme targets innovation-led companies focused on Information and Communications Technology, Health Services & Biopharma, AgTech, Tourism and more.The Abu Dhabi Investment Office (ADIO) announced today individual partnerships with financial services companies Florin Court Capital (Florin Court) and Tribe Infrastructure Group (Tribe) as part of its AED 2 billion (USD 545 million) Innovation Programme.
ADIO has awarded Florin Court and Tribe competitive financial incentives and will support the companies via its non-financial incentive offering throughout the partnership. The companies will also benefit from Abu Dhabi’s advanced financial services infrastructure, internationally competitive regulatory framework, access to capital and local talent, an extensive R&D support network and a time zone that favourably overlaps with key global markets.
H.E. Dr. Tariq Bin Hendi, Director General of ADIO, said: “The rapid pace of development in Abu Dhabi’s booming financial services sector gives rise to novel opportunities and creates access for existing and new players in the market. The emirate has emerged as a global financial hub, a position that is set to strengthen with the introduction of Florin Court and Tribe’s global expansion. ADIO’s partnerships with the two sector leaders will propel their growth from Abu Dhabi, as they capitalise on the emirate’s enabling business environment to pursue new strategies and expansion.”
Florin Court will establish its new trading, research and operations hub in the Abu Dhabi Global Market (ADGM), the emirate’s international financial centre (IFC). Tribe is pursuing broader global expansion from its headquarters in ADGM. The partnerships strengthen the UAE capital’s status as a financial hub, which is already home to three of the largest sovereign wealth funds in the world, a thriving stock exchange and an award-winning IFC.
Juma Al Hameli, Chief Strategy & Business Development Officer at ADGM said: “ADIO’s partnerships with Florin Court and Tribe is testament to the strength of ADGM’s holistic business ecosystem which enables business to thrive through a collaborative approach. With our progressive regulatory and licensing regime, we are proud to make tangible contributions to the realisation of Abu Dhabi’s great investment potential. We look forward to seeing the new partnerships flourish and will continue to develop pathways for companies and entrepreneurs to achieve their aspirations."
Partnerships with Florin Court and Tribe
Florin Court, a leading hedge fund manager specialising in the quantitative trading of alternative markets, was established in London, as part of Brummer & Partners. Since its inception in 2017, the award-wining Florin Court Capital Programme has returned 44% to institutional investors by using sophisticated mathematical trading systems on 350 markets as diverse as electricity and emissions, emerging market interest rates, Chinese commodities, and emerging market and digital currencies. Under the partnership, Florin Court will set up its trading, research and operations centre at ADGM, from where it will also establish a global internship programme and an academic engagement programme in mathematics, statistics, machine learning and finance.
Dr. Douglas Greenig, CEO and Co-founder of Florin Court, said, “At Florin Court, we strive to innovate - applying the best techniques from data science to alternative markets that are off the beaten path to give our investors better returns and superior risk control. Abu Dhabi was the first choice for our new technology, research and trading centre. It is an outstanding place for innovation and growth. It is a city on the move. We want to be part of Abu Dhabi’s success story as a global financial hub. We are grateful for the strong support of ADIO and look forward to taking the next steps in our growth in one of the world’s most dynamic cities.”
Tribe is an active financial advisor and developer that was founded in the UAE in 2011 and headquartered out of ADGM since 2016. It improves the sustainability of communities by delivering infrastructure project finance solutions for both governments and the private sector. Tribe’s partnership with ADIO builds on its longstanding commitment to Abu Dhabi as a business hub, from which it connects to its key markets in the Middle East, Europe, Asia and Australia. The partnership will enable Tribe to expand its existing financial advisory team and assist with the launch of its recently established funds management offering. In addition, it will engage with Abu Dhabi’s local talent through training courses and overseas secondments, and educate global investors on the progress of the infrastructure and public-private partnership (PPP) project landscape in the emirate.
Peter McCreanor, CEO of Tribe Infrastructure Group, said: “Since our inception, our goal has been to deliver bespoke advisory and development solutions to advance the critical infrastructure needs of government and the private sector in our target markets. Since our launch in the Emirate of Abu Dhabi, from our base at ADGM we have committed to developing sustainable infrastructure and energy security solutions. We continue to support the acceleration of the energy transition in the UAE and abroad through our partnership with ADIO. We see strong long-term growth potential in these markets and believe our bespoke solutions and partnerships will drive growth for the UAE and beyond.”
In addition to the Financial Services sector, ADIO’s AED 2 billion Innovation Programme targets innovation-led companies focused on Information and Communications Technology, Health Services & Biopharma, AgTech, Tourism and more.The Abu Dhabi Investment Office (ADIO) announced today individual partnerships with financial services companies Florin Court Capital (Florin Court) and Tribe Infrastructure Group (Tribe) as part of its AED 2 billion (USD 545 million) Innovation Programme.
The partnerships further expand Abu Dhabi’s thriving information and communications technology (ICT) ecosystem, which has seen a significant boost in 2021, with a raft of new entrants to the emirate. With ADIO’s support, technology leaders Anghami, Bespin Global and STARZPLAY Arabia each established new headquarters in Abu Dhabi, while Amazon Web Services (AWS) will soon launch a cloud infrastructure region in the United Arab Emirates (UAE). In total, ADIO has provided more than AED 865 million (USD 235 million) of support to seven ICT companies this year to help them innovate.
H.E. Dr. Tariq Bin Hendi, Director General of ADIO, said: “Abu Dhabi’s ICT sector is rapidly advancing with the arrival and expansion of ambitious companies like Callsign, Lyve and RIZEK. We are now seeing companies from all over the world pioneering new technologies in Abu Dhabi, as the emirate emerges as a leading advanced technology hub, and the region’s HQ of tech HQs. Abu Dhabi is a long-term partner to businesses aligned with our strategic focus and we are here to help companies fast-track their progress, while ensuring they are suitably equipped to grow sustainably and make a real impact on the global stage.”
As part of the Innovation Programme, ADIO has awarded Callsign, Lyve and RIZEK competitive financial incentives, including rebates on highly skilled payroll and high-tech CAPEX, as well as non-financial incentives, such as support with establishment processes and ecosystem engagement.
Partnerships with Callsign, Lyve and RIZEK
Callsign is a company headquartered in London, that has introduced a pioneering approach to re-establishing digital trust. Callsign’s unique intelligence-driven authentication positively identifies users, delivering safety and minimal friction for genuine users, while ensuring that bad actors are blocked. This is being used to underpin digital trust across financial institutions, governments and commerce globally.
The company has invested in building a world-class centre of technical excellence in Abu Dhabi’s Hub71, the emirate’s global tech ecosystem, to fuel innovation and growth in the digital identity and security industry. Its engineering facility attracts and retains high-skilled talent, having grown its Abu Dhabi team to 45 employees in the last six months, with plans to expand to more than 100 employees by year-end. Callsign’s rapid expansion supports its mission to establish the region as a global hub for digital identity expertise.
Dr. Zia Hayat, CEO and Chairman of Callsign, said: “The leadership of the UAE has shown immense foresight and vision to establish ADIO, and as a result Abu Dhabi as a global technical HQ. This was pivotal in our decision to scale up our primary hub outside of the UK, in the UAE. We are building two centres of excellence here. The centre of technical excellence employs highly skilled local talent utilising machine learning and artificial intelligence to lead innovation in the space of digital trust globally. Our operations centre of excellence, which is spearheaded by our world-class Security Operations Centre, will in combination with our technical centre attract and retain over 1,000 employees in the coming years. To underline our commitment to the ADIO partnership, we are relocating senior management and hiring the best local talent to continue the development and scaling of our operations.”
Lyve is a global logistics solutions and technology company founded in the UAE, with a presence in 12 countries worldwide. It connects businesses with their partners and customers through patented cloud-based logistics platforms and digital transformation innovations, facilitating millions of orders every month. The company will be establishing its headquarters in Abu Dhabi, along with the relocation of various management roles and its technology team. Already one of the fastest growing last-mile delivery platform companies, Lyve will continue to enhance its ecosystem of digital products from Abu Dhabi to be a one-stop shop for businesses, as it seeks to digitise the global last-mile landscape.
Hassan Hallas, CEO and Co-founder of Lyve, said: "We are honoured to have been granted the opportunity to scale our business during the most exciting and promising time in digital transformation. ADIO's investments and faith in our vision will become a landmark on our path to innovation. Through the growth of our R&D department, we look forward to developing new disruptive tech solutions that will have an outsized impact on both the regional and global last-mile delivery and ecommerce industries."
RIZEK is a homegrown online platform that connects users to a variety of service providers, allowing its user base easy access to services in healthcare, beauty, cleaning, maintenance, and many other segments at the time and location of their choosing. The company was the first local platform to introduce home polymerase chain reaction (PCR) testing and the first platform in the world to facilitate COVID-19 vaccines at home. It has experienced exponential growth since its inception just under a year ago, recording an increase of 800% in revenue and a 700% increase in customer base. ADIO’s partnership will aid RIZEK in its continued growth as the company expands into new markets, including Saudi Arabia and Egypt, and develops more segments to broaden its range of services.
Abdallah Abu Sheikh, Founder and CEO of RIZEK, said: “Our partnership with ADIO will aid us in achieving what we promised ourselves and our community to achieve, and will further emphasise the impact our presence has made since our inception, as well as the efforts we will continue to make to elevate on-demand services in the UAE - and the region as a whole - to new heights.”
ADIO’s Innovation Programme was established under Ghadan 21, Abu Dhabi’s three-year accelerator programme, which is concluding at the end of 2021 having made significant progress in driving the development of the emirate’s knowledge economy.Three new tech partnerships bring ADIO’s total support for Abu Dhabi’s fast-growing ICT sector to USD 235m in 2021
The partnerships further expand Abu Dhabi’s thriving information and communications technology (ICT) ecosystem, which has seen a significant boost in 2021, with a raft of new entrants to the emirate. With ADIO’s support, technology leaders Anghami, Bespin Global and STARZPLAY Arabia each established new headquarters in Abu Dhabi, while Amazon Web Services (AWS) will soon launch a cloud infrastructure region in the United Arab Emirates (UAE). In total, ADIO has provided more than AED 865 million (USD 235 million) of support to seven ICT companies this year to help them innovate.
H.E. Dr. Tariq Bin Hendi, Director General of ADIO, said: “Abu Dhabi’s ICT sector is rapidly advancing with the arrival and expansion of ambitious companies like Callsign, Lyve and RIZEK. We are now seeing companies from all over the world pioneering new technologies in Abu Dhabi, as the emirate emerges as a leading advanced technology hub, and the region’s HQ of tech HQs. Abu Dhabi is a long-term partner to businesses aligned with our strategic focus and we are here to help companies fast-track their progress, while ensuring they are suitably equipped to grow sustainably and make a real impact on the global stage.”
As part of the Innovation Programme, ADIO has awarded Callsign, Lyve and RIZEK competitive financial incentives, including rebates on highly skilled payroll and high-tech CAPEX, as well as non-financial incentives, such as support with establishment processes and ecosystem engagement.
Partnerships with Callsign, Lyve and RIZEK
Callsign is a company headquartered in London, that has introduced a pioneering approach to re-establishing digital trust. Callsign’s unique intelligence-driven authentication positively identifies users, delivering safety and minimal friction for genuine users, while ensuring that bad actors are blocked. This is being used to underpin digital trust across financial institutions, governments and commerce globally.
The company has invested in building a world-class centre of technical excellence in Abu Dhabi’s Hub71, the emirate’s global tech ecosystem, to fuel innovation and growth in the digital identity and security industry. Its engineering facility attracts and retains high-skilled talent, having grown its Abu Dhabi team to 45 employees in the last six months, with plans to expand to more than 100 employees by year-end. Callsign’s rapid expansion supports its mission to establish the region as a global hub for digital identity expertise.
Dr. Zia Hayat, CEO and Chairman of Callsign, said: “The leadership of the UAE has shown immense foresight and vision to establish ADIO, and as a result Abu Dhabi as a global technical HQ. This was pivotal in our decision to scale up our primary hub outside of the UK, in the UAE. We are building two centres of excellence here. The centre of technical excellence employs highly skilled local talent utilising machine learning and artificial intelligence to lead innovation in the space of digital trust globally. Our operations centre of excellence, which is spearheaded by our world-class Security Operations Centre, will in combination with our technical centre attract and retain over 1,000 employees in the coming years. To underline our commitment to the ADIO partnership, we are relocating senior management and hiring the best local talent to continue the development and scaling of our operations.”
Lyve is a global logistics solutions and technology company founded in the UAE, with a presence in 12 countries worldwide. It connects businesses with their partners and customers through patented cloud-based logistics platforms and digital transformation innovations, facilitating millions of orders every month. The company will be establishing its headquarters in Abu Dhabi, along with the relocation of various management roles and its technology team. Already one of the fastest growing last-mile delivery platform companies, Lyve will continue to enhance its ecosystem of digital products from Abu Dhabi to be a one-stop shop for businesses, as it seeks to digitise the global last-mile landscape.
Hassan Hallas, CEO and Co-founder of Lyve, said: "We are honoured to have been granted the opportunity to scale our business during the most exciting and promising time in digital transformation. ADIO's investments and faith in our vision will become a landmark on our path to innovation. Through the growth of our R&D department, we look forward to developing new disruptive tech solutions that will have an outsized impact on both the regional and global last-mile delivery and ecommerce industries."
RIZEK is a homegrown online platform that connects users to a variety of service providers, allowing its user base easy access to services in healthcare, beauty, cleaning, maintenance, and many other segments at the time and location of their choosing. The company was the first local platform to introduce home polymerase chain reaction (PCR) testing and the first platform in the world to facilitate COVID-19 vaccines at home. It has experienced exponential growth since its inception just under a year ago, recording an increase of 800% in revenue and a 700% increase in customer base. ADIO’s partnership will aid RIZEK in its continued growth as the company expands into new markets, including Saudi Arabia and Egypt, and develops more segments to broaden its range of services.
Abdallah Abu Sheikh, Founder and CEO of RIZEK, said: “Our partnership with ADIO will aid us in achieving what we promised ourselves and our community to achieve, and will further emphasise the impact our presence has made since our inception, as well as the efforts we will continue to make to elevate on-demand services in the UAE - and the region as a whole - to new heights.”
ADIO’s Innovation Programme was established under Ghadan 21, Abu Dhabi’s three-year accelerator programme, which is concluding at the end of 2021 having made significant progress in driving the development of the emirate’s knowledge economy.Three new tech partnerships bring ADIO’s total support for Abu Dhabi’s fast-growing ICT sector to USD 235m in 2021
The project is for the design, build, finance, maintenance and transfer of three new schools with a capacity of 5,360 students in Abu Dhabi’s Zayed City. It forms part of the Abu Dhabi Future Schools Programme and is being procured in accordance with the PPP Law and corresponding administrative resolution to facilitate the implementation of the PPP Law and Partnership Projects Guidebook issued by ADIO.
ADIO has now concluded its bid evaluation process as part of the Request for Qualification (RfQ) process and has pre-qualified the following companies:
•Concession Infrastructure Investments Manager Limited-VINCI Construction Grands Projets- Archirodon (Consortium)
•International Power S.A. Dubai Branch
•NV Besix SA (Company) (SHJ.BR)
•Plenary Group Holdings Pty Ltd.
•Zublin Construction LLC
Pre-qualified bidders will be invited to participate in the next stage of the procurement process and submit detailed proposals in response to a Request for Proposal (RfP).
ADIO is the central Abu Dhabi government authority with responsibility for the facilitation, development and procurement of all infrastructure projects delivered through a PPP framework in Abu Dhabi, in line with its mandate to support private sector investment in the emirate.In collaboration with Abu Dhabi Department of Education and Knowledge, ADIO has pre-qualified five companies for Zayed City Schools PPP project tender.
The project is for the design, build, finance, maintenance and transfer of three new schools with a capacity of 5,360 students in Abu Dhabi’s Zayed City. It forms part of the Abu Dhabi Future Schools Programme and is being procured in accordance with the PPP Law and corresponding administrative resolution to facilitate the implementation of the PPP Law and Partnership Projects Guidebook issued by ADIO.
ADIO has now concluded its bid evaluation process as part of the Request for Qualification (RfQ) process and has pre-qualified the following companies:
•Concession Infrastructure Investments Manager Limited-VINCI Construction Grands Projets- Archirodon (Consortium)
•International Power S.A. Dubai Branch
•NV Besix SA (Company) (SHJ.BR)
•Plenary Group Holdings Pty Ltd.
•Zublin Construction LLC
Pre-qualified bidders will be invited to participate in the next stage of the procurement process and submit detailed proposals in response to a Request for Proposal (RfP).
ADIO is the central Abu Dhabi government authority with responsibility for the facilitation, development and procurement of all infrastructure projects delivered through a PPP framework in Abu Dhabi, in line with its mandate to support private sector investment in the emirate.In collaboration with Abu Dhabi Department of Education and Knowledge, ADIO has pre-qualified five companies for Zayed City Schools PPP project tender.
