Dubal Holding and Imdaad co-invest in sustainable projects

Dubal Holding, the investment arm of Dubai Government with a focus on non-ferrous metals, recycling, energy and industrial sectors – and Imdaad, a Dubai-based group of companies that provide integrated, sustainable facilities management services, have signed a Memorandum of Understanding to explore and invest in projects aimed at fostering recycling and sustainability in the UAE. 

In a statement, the companies said that 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.

The agreement was signed by Jamal Abdulla Lootah, Group CEO of Imdaad, and Ahmad Hamad Bin Fahad, CEO of Dubal Holding, the statement added.

Commenting on the partnership, Jamal Abdulla Lootah, Group CEO of Imdaad, 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. 

“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.”

Furthering the Green Economy

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.

Following the signing of the MoU with Imdaad, Ahmad Hamad Bin Fahad, CEO of Dubal Holding LLC, 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. 

“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,” he concluded.