Page 71 - UNION PROPERTIES PR REPORT- December 2024

12/26/24, 9:14 AM Union Properties breaks ground on its AED 2 bn Dubai-based development

push for green and sustainable mobility solutions. No further details

were provided on the initiatve.

The UAE is on a mission to make e-bikes mainstream, with Enoc
Group tapping Drive Terra earlier this month to roll out a network of

battery-swapping stations for e-bikes across the UAE. The initiative

introduces a Batteries-as-a-Service model to reduce battery costs,
charging times, and range limitations.

INS.-

AM Best maintained Dubai National Ins. & Reins.’s financial
strength rating at A- (Excellent) and its long-term issuer credit rating

at a- (Excellent), with a stable outlook for both ratings, according to a
press release (pdf ). The company's strong balance sheet, characterized

by a strong risk-adjusted capitalization and solid earnings retention
over recent years, underpinned AM Best’s rating.

ENERGY-

Adnoc Drilling received two new jack-up rigs, set to be operational

by 1Q 2025, Wam reports. The addition increases the company's fleet
size to 142 rigs, making it one of the largest rig fleet owners globally.

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