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‘Wadeem’ sold out for $1.49bn

This is the highest Abu Dhabi real-estate release to date.

Tesla Q2 sales down 13.5%

Shares rally after the disclosure, better than some forecasts.

TomTom cuts 300 jobs

The firm said it was realigning its organization as it embraces AI.

Aldar nets $953m in sales at Fahid

Aldar said 42 percent of the buyers are under the age of 45.

Qualcomm to Alphawave for $2.4 bn

The deal makes Alphawave the latest tech company to depart London.

Schneider, ADH sign MoU

The two firms will collaborate on projects in Egypt and beyond.
  • Utilizing and building EcoStruxure platforms will be the cornerstone of these collaborations, said a Schneider executive.
  • He said these platforms are designed to enable the use of innovations like the Internet of Things.

Schneider Electric has signed a Memorandum of Understanding with the real estate developer Arab Developers Holding to collaborate on a number of projects within Egypt and beyond.

“Utilizing and building EcoStruxure platforms will be the cornerstone of these collaborations, enabling our partners to establish and manage different components of the smart infrastructure in an optimal way,” said Fouad Zayed, Vice President of Digital Energy & EcoStruxure for Egypt, North-East Africa and Levant Cluster, Schneider Electric.

He said these platforms are designed to enable the use of innovations like the Internet of Things (IoT), and it is planned to use EcoStruxure platforms in executing and managing electricity, water, and gas networks, as well as ventilation and air conditioning systems.

“Another edge is that they also allow for an easy management of networks and databases and comes fully complete with a fully functional operations control unit,” he said.

Ayman Khalifa, Group Chief Executive Officer of Arab Developers Holding, said the MoU signed with Schneider Electric comes within the framework of the company’s commitment to meet its clients’ expectations by offering smart cities that will be the first of their kind in the local market.