01 June 2020

Sports academy 50pc complete

Abu Dhabi General Services Company (Musanada) has announced that more than 50 per cent of the construction work on the Fatima bint Mubarak Ladies Sports Academy has been completed and the project will be ready by the year-end.

 The scope of work involves construction of the building, including the facilities and administrative offices, design and construction of a football field and games field, in addition to the development of a women’s beach. This is in addition to landscaping works and external walkways.

 Spanning an area of 14,000 sq m, the project is being built for the Abu Dhabi Sports Council at an estimated cost of Dh158 million ($43 million) in cooperation with a number of government entities and strategic partners.

 

Sharjah drive-in cinema to open

UAE developer Arada is preparing to open next month a new drive-in cinema at Madar at the Dh24 billion ($6.5 billion) Aljada, the recently launched family entertainment destination in Sharjah.

 Visitors will also be able to order directly from Zad at Aljada, the new food district featuring 17 different types of cuisine located only a few steps away from the cinema, from the comfort of their car. Meals will then be delivered to cars in a contactless and safe manner.

 The cinema is being launched in collaboration with Dubai-based Urban Entertainment and will strenuously adhere to all current and future guidelines with regard to safety and social distancing.

 

Arkan posts Q1 net profit

UAE-based Arkan Building Materials Company said it had registered a slight decline in its net profit for the first quarter which fell to Dh10.53 million ($2.79 million) from Dh12.21 million ($3.24 million) last year due to lower income recognised from scrap assets sale, from the closed Emirates Cement Factory, than in  2018.

 Arkan said its net profit before sale of scrap assets for Q1 2020 almost doubled to Dh10.01 million from Dh5.25 million in the same period in 2019 as a result of continued cost saving initiatives, a more efficient mix of raw materials used in the cement business and lower electricity costs.  Group revenue too witnessed a decline from Dh234.99 million in Q1 2019 to Dh208.17 million primarily due to intense competition in the cement business, adversely impacting selling prices.  

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• In brief

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