< Previous50 INDUSTRY | industry and in partnership with the private sector, the kingdom will become a leading industrial power that contributes to securing global supply chains and exporting high-tech prod- ucts to the world,” he said. The new industrial strategy is expected to drive growth in the sector to take the number of indus- trial facilities to around 36,000 by 2035. It focuses on 12 sub-sectors to diversify the industrial economy in the kingdom. The programme has identified more than 800 investment opportu- nities worth SAR1 trillion. The new strategy initiative – in line with the objectives of the Saudi Vision 2030 – aims to build an indus- trial economy that attracts invest- ment, contributes to achieving economic diversiƅ cation and devel- ops the kingdom’s domestic product and non-oil exports. The latest programme follows the launch of the national industrial development and logistics programme and establishment of an independent ministry to oversee the sector. These programmes have led to an increase in the number of industrial establishments by more than 50 percent since the launch of the Vision, reaching 10,640 industrial facilities in 2022. Through the strategy, the king- dom aspires to empower the private sector and increase the Ɔ exibility and competitiveness of the industrial sector. To achieve these ambitious national objectives, a governance model for the industrial sector has been developed by forming a supreme committee for industry, headed by the Crown Prince to oversee the development of the sector. An industrial council has also been created with the participation of the private sector, to ensure the participation of industrial investors in decision-making and development policies. Currently, Saudi Arabia is the fourth largest manufacturer of petrochemical products in the world, while its indus- trial outputs contribute to supplying global supply and manufacturing chains, across many industries. Modernisation Saudi Arabia’s new industrial strategy aims to empower the private sector and increase the competitiveness of the sector Global player Saudi Arabia is the fourth largest manufacturer of petrochemical products in the world 36,000 The projected number of industrial facilities in Saudi Arabia by 2035 We have all the capabilities we need to enable a competitive and sustainable industrial economy Vol. 23/11/1, November 2022difc.ae DIFC invites you to engage with the community and join the path to COP28. DIFC and the Global Ethical Finance Initiative (GEFI) are pioneering the first finance focused initiative for COP28, a strategic partnership to advance the global finance community’s initiatives to address climate matters and advance ESG. DIFC is proud to partner with GEFI for COP28 A partnership with:52 The Link is also said to feature a glass-walled inƅ nity pool, and will have 229 hotel rooms and suites as well as over 90 residential units. The upcoming building is safely positioned over Dubai’s Happiness Bridge and “under- going its ƅ nal technical preparations for its epic ascent”. 2. Ciel Tower Ciel Hotel is set to be the world’s tallest hotel in 2023. The building, which has a remarkable height of 365 metres, will add to Dubai Marina’s skyline and is managed by Dubai-based property developer The First Group. Designed by London-based archi- tect NORR, the 82-storey hotel will feature a glass observation deck on the 82nd Ɔ oor, o Ƃ ering visitors a 360-degree views across Dubai Marina, The Palm Jumeirah and the Arabian Gulf. The hotel will also feature a sunset lounge on the 74th Ɔ oor. On completion, Ciel will surpass the Gevora Hotel — which is currently the tallest hotel in Dubai. 3. Atlantis The Royal Atlantis The Royal luxury resort is set to open in January 2023. The 43-storey cantilevered resort, will feature 231 luxury apartments, 693 hotel rooms and 102 suites, all of which o Ƃ er views of the Seven upcoming UAE mega projects to watch in 2023 From floating hotels to the world’s largest aquarium, we take a closer look at the upcoming projects next year Building for glory The construction and real estate sectors are vital contributors to the UAE economy $133.53BN The value of the UAE’s construction market by 2027, according to Mordor Intelligence CONSTRUCTION | BY SHARON BENJAMIN T he UAE is home to the world’s tallest tower, the Burj Khalifa, one of the world’s largest malls, the Dubai Mall, and some of the most beautiful buildings in the world, such as the Museum of the Future. However, the nation’s feats are not just stopping there. That being said, here is a closer look at all the upcoming proj- ects set to open in 2023: 1. The Link by One&Only One Zabeel Set to open in 2023, The Link by One & Only One Za’abeel will become part of Dubai’s cityscape. Designed by Japanese architectural ƅ rm, Nikken Sekkei, the building will feature two glass towers that will be connected to one another by the world’s longest cantilevered build- ing, called The Link. The huge mixed-use scheme, called One Za’abeel, will feature at its heart a dramatic protruding steel skybridge called The Linx. Suspended 100 metres above the ground, the panoramic space will house restaurants and bars, an observation deck, a gym, a spa, a pool, a banquet hall and a rooftop terrace. Vol. 23/11/1, November 2022Arabian Sea and Palm Island. French interior design expert Sybille de Margerie has reportedly commissioned a host of talented modern artists to personalise each residence. The resort will also house 90 swim- ming pools, including a rooftop inƅ nity pool on the 22nd Ɔ oor, suspended 90 metres above ground level. Atlantis The Royal will also feature restaurants run by global celebrity chefs, which include Gastón Acurio, Costas Spiliadis, Ariana Bundy, Heston Blumenthal and José Andrés. 4. SeaWorld Abu Dhabi Marine-based theme park SeaWorld Abu Dhabi will be home to the world’s largest aquarium and is set to open to visitors in 2023. With 90 percent of construction completed on the tourist spot, SeaWorld Abu Dhabi will also be a research and rescue centre. The 183,000 sq m venue will be home to over 150 marine species and will be led by marine scientists, veterinarians, animal care professionals, rescue experts and educators. Built on five indoor levels, the venue will also have a rescue team, who will be available to support authorities 24/7. Visitors at SeaWorld Abu Dhabi can take advantage of immersive and inter- active exhibits. “The central ‘One Ocean’ realm of SeaWorld Abu Dhabi links six distinct marine environments throughout the park, all of which tell a unified story based on the interconnectivity of all life on earth and in our ocean,” SeaWorld Abu Dhabi said in a statement. “Within the central hub, guests will encounter fascinating ocean stories presented in an expansive 360-degree fully immersive media experience, transporting them from one fascinating place to another, while they encounter much of the ocean’s diverse marine life, learning how the One Ocean current impacts us all,” the statement said. SeaWorld Abu Dhabi is anticipated to contain more than 58 million litres of water. 5. Kempinski Floating Palace A ƅ ve-star luxury hotel, the Kempinski “Cruising at a maximum speed of 6 nautical miles, the villas are equipped with solar panels and are designed to be environmentally friendly,” Kempinski said in a statement. Guests are brought to the 156-room and suite hotel or their villas via speed boats, or can even opt to arrive in their own boats. The hotel will also feature a “connected Ɔ oating helipad next to an impressive yacht parking deck for up to 16 yachts,” the statement said. Guests at the Kempinski Floating Palace can access gourmet restaurants, bars, spa, pools to boutiques, banquet areas and the possibility for even larger yachts to sail in and out at the centre of the hotel. 6. Jumeirah Marsa Al Arab Set to open in 2023 is the superyacht- shaped hotel Jumeirah Marsa Al Arab. The new resort, which will feature 386 rooms and suites, four penthouses, as well as 83 luxury hotel apartment suites set amid private landscaped gardens. The resort will complete Jumeirah’s “oceanic trilogy,” which already has the wave-shaped Jumeirah Beach Hotel and the sailboat-inspired Burj Al Arab. All rooms at the resort will o Ƃ er guests a panoramic view of the Arabian Sea. 7. Jubail Island Abu Dhabi’s Jubail Islands sits between the emirate’s Saadiyat Island and Yas Island. The upcoming project spans 4,500 hectares and is already home to a massive mangrove park. Managed by the Jubail Island Investment Company (JIIC), the development will accommo- date over 5,000 residents and is also said to build restaurants, a beach club, sports amenities, nurseries, schools, clinics, community centres, and busi- ness centres. The development will also feature spacious and well-appointed outdoor areas, including parks, walking tracks, kayaking stations and cycling routes for nature lovers and water sports enthusiasts. The ƅ rst 300 villas will be built by the Arabian Construction Company and will be ready by the fourth quarter of 2023. Landmark The Link by One & Only One Za’abeel will become part of Dubai’s cityscape Five stars Atlantis The Royal will feature 231 apartments, 693 hotel rooms and 102 suites Adventure Visitors at SeaWorld Abu Dhabi can take advantage of immersive exhibits Nature reserve Jubail Islands spans 4,500 hectares and is home to a mangrove park Floating Palace is exactly what it sounds. The Ɔ oating building, which is expected to open in 2023, will feature a glass pyra- mid-topped main building, which is structured in four parts. Aside from accommodating over 150 guest rooms and suites, the hotel will also be home to 12 luxury villas, connected by pontoons. The two, three and four houseboats are for sale, but can also be rented out by hotel guests. arabianbusiness.com 53 | CONSTRUCTION54 Enter the “experience economy” First coined by Joe Pine and James Gilmore in 1998, the experience econ- omy identiƅ es experience as a power- ful economic output that is able to transform countries. Experiences provide this opportunity as they can not only shift GDP, but also create dialogue, accelerate cultural exchange and add value. The cities and nations that cham- pion this principle will see a multiplier e Ƃ ect. And Saudi Arabia is the nation leading this movement. With Saudi Arabia expected to be the fast-growing economy this year. But how can experiences and the beneƅ ts of embracing this medium act as a force of change? Experiences attract tourism In recent years, Saudi Arabia has begun to recognise the beneƅ ts of the expe- rience economy – and has simpliƅ ed the tourism visa process to increase both interest and access. Considering the World Travel and Tourism Coun- cil’s ƅ ndings that the tourism industry accounts for one in ƅ ve jobs globally, How the experience economy can diversify Saudi Arabia Saudi Arabia’s quest to create new markets, territories and economies to diversify from oil is huge and signiƒ cant Natural beauty Authorities are making steps to elevate AlUla to become a global destination for heritage, culture and natural tourism EVENTS | Immersive entertainment events are more crucial than ever to attract new audiences as people rekindle their social gatherings in a post-Covid landscape BY ADEL NOUEIHED, REGIONAL MANAGING DIRECTOR, IMAGINATION MIDDLE EAST B y the end of this year, the Gulf states will collectively have been at the forefront of the world when it comes to embracing experiences on a global level. Having started the year hosting one of the larg- est World Expos in Dubai, the end of the year will see Qatar be the ƅ rst ever Middle Eastern country to host the FIFA World Cup. This push to welcome large-scale events may seem like grandstanding and an opportunity for countries to showcase their vast oil wealth to the world, but at its heart is the radical realisation that to diversify their econ- omies, the states need to look far beyond oil and fundamentally embrace and accept rapid change. Vol. 23/11/1, November 2022| EVENTS Kingdom rising Saudi Arabia can offer transformative journeys which create memories to last a lifetime in ƅ ve jobs globally, this will be a huge contributor towards achieving some of the country’s Vision 2030 goals to make it a leading job creator in the region. The increase in access to the king- dom will also naturally generate a larger appetite for guest experiences. And an investment in experiences will correct some preconceptions of the nation. For example, the hosting of major sporting events will enable potential visitors to preview the rich offerings of the kingdom, and form new connections with audiences through transformative experiences. And not only for the guests, but also for the hosts. These events allow experiences to be created that will be remembered in ‘where were you’ moments. Memories that can transcend time. By making the most of these opportunities Saudi Arabia will have the platform to diver- sify its economy from a carbon economy to a lucrative experience driven one. But experiences don’t always need to be global displays. In fact, multiple experiential touch points will be needed to truly rival oil’s stake in the economy. The new airport in Riyadh is a prime example of this in action – creating a new gateway experience that will form the ƅ rst impression for all new visitors as well as transit passengers who will be able to connect to the wider experience ecosystem. At Imagination, we call this experience infrastructure. People value experiences over possessions Yet the experience economy is not only beneficial for tourism. Immersive entertainment events are more crucial than ever to attract new audiences as people rekindle their social gatherings in a post-Covid landscape. And as millennials look for experi- ences over possessions, there is a real opportunity for brands to harness this sentiment. FOMO moments, limited editions, pop-ups – where people feel they must attend – or even permanent, bespoke destinations curated around a shared passion for experiences, are all opportunities. experiences can become. Think Neom – an experience reimagined. One that hasn’t even fully begun yet but is already being discussed globally. It promises to be by far the most transformative expe- rience potentially anywhere in the world, helping to put Saudi Arabia on the map rethinking what the future of living will be. Experiences are for the public good What mustn’t be forgotten is the impact experience has on the wellbeing of the public. Recognising this, Saudi Arabia’s Quality of Life programme has dedi- cated a section to explore how the diversity and quality of experiences can contribute to the quality of life of its people. It has also begun to invest in experiential programmes that directly impact the lives of its citizens. Qiddya is a great example of the use of experiences to better the lives of nationals. The entertainment megaproject located on the outskirts of Riyadh will reimagine the future of leisure and entertainment experiences that will create huge domestic and international visitor spend. No longer will Saudi nationals need to travel for world class amusement parks and live entertainment. They will have it on their doorstep. Saudi Arabia’s quest to create new markets, territories and economies to diversify from oil is huge and signiƅ - cant. It will take the kingdom into many new areas that will beneƅ t residents and visitors, as well as introducing some of the most exciting experiences to the rest of the world. Unique destination Noueihed says Qiddya is a great example of the use of experiences to better the lives of Saudis Presented By’s recent Riyadh store launch is a good example of this, with its unique, multisensory retail space. Look at Al Ula too. By unlocking the vast historical heart of Saudi Arabia’s ancient heritage via Ɔ agship cultural experiences, the kingdom can o Ƃ er profound transformative jour- neys which create memories to last a lifetime. Far more than any souvenir could achieve. Experiences and the internet We know that advance technology has transformed the way we interact with each other. And experiences are no di Ƃ erent. Monumental moments can now be recorded, shared and ampliƅ ed globally, almost instantly. And people are much more likely to share or reshare an experience than they are a possession. The ability the Gulf states have to design and deliver best-in-class expe- riences are a huge advantage in this area – creating innovative and ground-breaking experiences that push the boundaries of what connected arabianbusiness.com 5556 control & automation; in a single food ecosystem with an agenda that will shape the future of the manufacturing industry - amplifying the opportunity created by the Fourth Industrial Revo- lution, and building upon and support- ing the transformation of the country’s industrial sector into a global manu- facturing hub, in line with the UAE’s ‘Make it in the Emirates’ vision. Over the three days of the event, Gulfood Manufacturing 2022 will examine themes of sustainability, and advanced technology adoption; nutri- tion and e ƃ ciency evolution, and stim- ulating innovation, in order to help organisations reduce costs, grow and transform. The biggest challenges in global food production will also be addressed, rising food prices principal among them. With food prices having risen by nearly 14 percent this year in emerging markets and by over 7 percent in advanced economies , inƆ a- tion - and the repercussions for the world’s poorest - will be a key focus area for conversations this year. Trixie LohMirmand, Executive Vice President, Dubai World Trade Centre comments: “Through Gulfood Manu- T he time has almost come. The wait is nearly over. Dubai World Trade Centre (DWTC) has confirmed that leading global trade fair, Gulfood Manufacturing, will take place from 8-10 November 2022. Showcasing new global products, solu- tions and technologies across the food and beverage value chain, this year’s edition is set to be 40 percent larger than the previous years’, with 25 percent of exhibitors new to the show. A steep growth trajectory that further demonstrates Dubai’s global market attraction and the overall competitive- ness of the UAE’s industrial sector and its business ecosystem, in line with the National Strategy for Industry and Advanced Technology, Operation 300Bn. The event will bring together the F&B manufacturing industry across sectors in processing, packaging, ingredients, supply chain solutions and The world’s greatest food show comes to Dubai Gulfood Manufacturing 2022 will be the deƒ nitive destination leading the future of food production – from new ingredients and advanced technologies to integrated supply chain solutions and break- through developments driving the industry forward Food prices Inflation will be a key focus area for conversations this year at Gulfood Manufacturing 6.8% The compound annual growth rate of the UAE’s f&b industry during the 2022-2027 period, according to Mordor Intelligence EVENTS| Vol. 23/11/1, November 2022arabianbusiness.com 57 | EVENTS facturing, we will unveil the next era in the evolution of the F&B manufactur- ing industry. From addressing global food challenges, to discussing the ESG wave that is transforming food systems, and together exploring the huge opportunities presented by innovation – particularly in the tech space - our aim is to create lasting positive impact on the industry and take it to new heights, further cementing the UAE’s reputation as a global destination for leading future industries.” Leading the future of food production The event aims to create a more sustainable, resilient, agile and e ƃ - cient industry for the future, bringing global experts, decision-makers and thought leaders together for insightful and inspiring sessions, to share ideas on the advancement of the industry. A key feature this year includes the Food Tech Summit where over 100 of the industry’s most dynamic and engaging speakers will convene to discuss an issue-driven agenda ranging from food engineering innovations, factories of the future, web 3.0 applications in food, emerging markets, food safety, circular ecosystems, sustainability-linked ƅ nance models, and much more. Powerful line-up of global speakers Visitors will have the chance to hear ƅ rst-hand from industry leaders, regu- latory and policy makers, ƅ nancial insti- tutions, geo-political and risk advisors, investors and research and development specialists. Dr Aman Puri, Consulate General of India, Dubai; Ahmad Sultan Al Haddad, Chief Operating Officer, Parks and Zones, DP World, UAE Region; Amadou Diallo, CEO Middle East and Africa, DHL Global Forwarding and Kebour Ghenna, Executive Director of the Pan African Chamber of Commerce and Industry are among the names slated to speak at the Food Tech Summit. A platform to do business and network Gulfood Manufacturing continues to garner interest from top global food production players, with exhibition stand space having sold out for this thrilled to take part in the discussion on what the future of packaging is going to be and how we are shaping it today,” says Abdelghany Eladib, Pres- ident and General Manager, SIG Middle East and Africa. The event will create a platform for the largest companies in the food industry to present their products, services and solutions to inƆ uential buyers from across the globe, creating multiple opportunities to network and do business. This year will be no excep- tion as participants have the opportu- nity to build new professional relation- ships, strengthen existing ones, and execute high-value deals. Global portfolio expansion The overseas events company of Dubai World Trade Centre, Kaoun Interna- tional recently announced, in a JV part- nership with dmg events, the develop- ment of an international portfolio in the food and hospitality sectors outside of the UAE. The collective vision and focus being to develop new markets and providing the global food and beverage community with access to emerging growth markets. In its first international market expansion, the inaugural Saudi Food & Beverage Show and The Saudi Food Manufacturing Show will be held in Riyadh, from 20 - 22 June 2023. The inaugural event will be affiliated to Gulfood Global, the world’s largest go-to event brand trusted by the global F&B industry. Connecting businesses The event will create a platform for the largest companies in the food industry to present their products, services and solutions to influential buyers from across the globe $619M The value of the UAE’s online F&B sales by the year 2025, according to the Dubai Chamber year already. From the ingredients sector alone, 95 percent of the world’s top ingredients brands have conƅ rmed participation for the 2022 edition, including Wilmar (Gulfood Manufac- turing 2022 Platinum Sponsor), Givau- dan, Cargill, and International Ɔ avours & Fragrances. Furthermore, from the processing and packaging sector, Riekermann, Tetrapak, Siemens, GEA, SIG and Krones will also be participat- ing. This year’s edition will see the biggest representation in recent years from Europe, with countries like Swit- zerland and Portugal returning to the event in full force. “Leading our industry in sustain- ability with our people, products and solutions, we are setting new industry standards in packaging. We are very excited to take part in Gulfood Manu- facturing again this year with a stand showcasing our latest innovations and value-added solutions. Gulfood Manufacturing’s exhibition is the most important forum where industry leaders come together to discuss the latest trends and developments in the food and beverage industry and what they mean for the sector. We are 58 W hat is the general perception of sustainability among regional real estate stakeholders? There is no denying that sustainability is being heard within conversations across the real estate industry. A solution however is many times absent from these talks and most are left with a feeling that sustainability is a di ƃ cult, expensive task best left to only the largest property inves- tors. However, real technological magic like The key to sustainable real estate transformation Sanjeevv Bhatia, CEO of Netix.ai, a smart cities solutions provider, sheds light on the business case for sustainable transformation in buildings, incentive programmes, and achievable outcomes, particularly in the context of the Middle East 20,000 The number of villas in Dubai that uses Netix. ai-powered technology Harnessing the power of technology Netix.ai has a solid focus on sustainable smart buildings, smart cities and energy efƒ ciency SPOTLIGHT | artiƅ cial intelligence (AI) and machine learning, working in tandem with the massive amounts of data being achieved by now a Ƃ ordable sensors with easy to deploy IoT networks has completely changed sustainability conversations. And we are witnessing an uptake of IoT and AI-based solutions aimed at integrating building systems, enabling data-driven operations, and deriving insights on energy consumption, building a stronger business case for sustainability. What, according to you, is the single biggest roadblock to large-scale sustainable trans- formation? How to address this challenge? We feel a lack of education and dispelling myths created by the past are the largest barriers to the adoption of technology for sustainable transfor- mation. In a marketplace formerly dominated by OEM’s, property owners have long been promised “savings” while being given tools that required far more cost and internal bandwidth than many were aware of upfront and it resulted in many software technologies remaining underutilised or ine ƃ cient. Further, with real estate being capital-in- tensive, there is a deep-seated aversion to digi- tal transformation based on a perpetuated belief that it is a costly a Ƃ air. Many are not privy to the Vol. 23/11/1, November 2022arabianbusiness.com 59 Smart solutions Netix.ai’s indus- try expertise ranges from design, engineer- ing, integration, connectivity, and upgrades of legacy systems to open source modern technol- ogy ready to be integrated into smart cities. | SPOTLIGHT Tech adoption There is a deep-seated aversion to digital transformation based on a belief that it is a costly affair, Bhatia says We feel a lack of education and dispelling myths created by the past are the largest barriers to the adoption of technology for sustainable transformation manpower, and provide insights pertaining to inefficient processes, faulty equipment, and excessive energy usage. Further, the data-driven AI/ML approach is adaptive; not disruptive. IoT also enhances the systems’ programmability and interoperability, thereby upholding their ‘right to repair’ thereon. Hence we call this the ‘Android Approach’ to buildings. What are the achievable outcomes associated with the adoption of IoT and AI-based solu- tions? How can they rationalise the ROI? Multiple projects of Netix.ai demonstrate ƅ nan- cial ROIs like reduced operating costs around energy, equipment lifetime, and on-premises resources needed. Additionally, one of the less tangible ROI’s that takes a few months to begin experiencing is the reduction in stress and anxi- ety on your buildings operational team. Beyond that there is a social ROI that will allow any user of these technologies to market their deƅ nitive e Ƃ ort towards sustainable operation and even provides businesses with access to the proof around their investments. Netix.ai provides dashboarding that can be in the lobby of any building as a testament to this social awareness as well as providing you with the sensors (data) you need to give real evidence. potential ROI and the multiple other unquanti- ƅ able, positive outcomes they stand to achieve with digital transformation. To address this challenge, we launched the Sustainability Finance Model in partnership with large Euro- pean investment groups, to help fully fund the retroƅ tting and BAS upgrading of existing build- ings. As the upgrades entail zero capital expen- diture (capex), stakeholders will be more incen- tivised to embrace sustainable transformations. Why do old buildings and systems need to be updated/retroƅ tted with IoT and AI-based solutions? What can upgrades achieve that is not achievable already? Legacy building management systems (BMS) were not built to address modern-day occu- pancy levels, indoor environmental quality (IEQ), amenities, etc. Additionally, they require a large number of skilled manpower to operate; func- tion in silos, so owners/operators are without a holistic view of their portfolios; and mostly entail a capex intensive overhaul of the entire hard- ware to address any ine ƃ ciencies Instead, IoT and AI-based smart retroƅ ts can integrate existing systems, centralise the oper- ations, bring greater visibility into electrome- chanical performances, reduce dependencies on Next >