SoftBank-backed Oyo to add 2,000 apartments in Abu Dhabi

SoftBank-backed Indian hotel aggregator Oyo plans to add 2,000 apartments in Abu Dhabi amid the growing demand for accommodation for residents in the emirate.

The fully furnished apartments will be located in areas such as Khalifa City, Al Zeina, Al Raha, Al Reem Island, Al Reef and Al Mushrif, the company said on Wednesday.

These are in addition to the 750 apartments it is currently offering in Khalifa City, Al Zeina and Al Raha.

“We are excited about the opportunity to contribute to Abu Dhabi's thriving start-up ecosystem and expat community,” said Ankit Tandon, Oyo's global chief business officer and chief executive of South-East Asia and the Middle East.

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SoftBank-backed Oyo cuts 600 jobs amid losses

The hotel-booking company, aims to capitalise on a growing demand as more companies move their operations to Abu Dhabi or open branches in the UAE capital, due to government incentives and the business-friendly environment.

Oyo plans to add 2,000 apartments for expat housing as Abu Dhabi’s start-up ecosystem surges. Photo: Oyo

The emirate attracted more than 25 companies, including PolicyBazaar, DealShare, Momos, Raena, Hippo Video, Ultrahuman, India Gold, ClassPlus, Mensa and Expand My Business, Oyo said.

South Korean blockchain company Neoply is also setting up its global headquarters in Abu Dhabi.

Tikehau Capital, a France-based alternative asset management company is also opening an office in the Abu Dhabi Global Market, it said earlier this month.

Oyo, which was launched in 2013 by Ritesh Agarwal, has submitted a confidential “pre-filing” document for what appears to be a slimmed-down initial public offering, Reuters reported in March.

The company initially filed to go public in 2021, aiming for an IPO of 84.3 billion Indian rupees ($1.02 billion) but delayed the share sale.

Oyo is now aiming for an IPO size of $400 million to $600 million, according to the report.

The platform of the global travel technology company has more than 170,000 hotel and home storefronts in more than 35 countries including India, Europe, and South-East Asia.

THE SIXTH SENSE

Starring: Bruce Willis, Toni Collette, Hayley Joel Osment

Director: M. Night Shyamalan

Rating: 5/5

TWISTERS

Director: Lee Isaac Chung

Starring: Glen Powell, Daisy Edgar-Jones, Anthony Ramos

Rating: 2.5/5

match info

Manchester United 3 (Martial 7', 44', 74')

Sheffield United 0

Sole survivors

Cecelia Crocker was on board Northwest Airlines Flight 255 in 1987 when it crashed in Detroit, killing 154 people, including her parents and brother. The plane had hit a light pole on take off
George Lamson Jr, from Minnesota, was on a Galaxy Airlines flight that crashed in Reno in 1985, killing 68 people. His entire seat was launched out of the plane
Bahia Bakari, then 12, survived when a Yemenia Airways flight crashed near the Comoros in 2009, killing 152. She was found clinging to wreckage after floating in the ocean for 13 hours.
Jim Polehinke was the co-pilot and sole survivor of a 2006 Comair flight that crashed in Lexington, Kentucky, killing 49.

Countdown to Zero exhibition will show how disease can be beaten

Countdown to Zero: Defeating Disease, an international multimedia exhibition created by the American Museum of National History in collaboration with The Carter Center, will open in Abu Dhabi a month before Reaching the Last Mile.

Opening on October 15 and running until November 15, the free exhibition opens at The Galleria mall on Al Maryah Island, and has already been seen at the Jimmy Carter Presidential Library and Museum in Atlanta, the American Museum of Natural History in New York, and the London School of Hygiene and Tropical Medicine.

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Real estate tokenisation project

Dubai launched the pilot phase of its real estate tokenisation project last month.

The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.

Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.

MO

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Overall standings

1. Christopher Froome (GBR/Sky) 68hr 18min 36sec,

2. Fabio Aru (ITA/AST) at 0:18.

3. Romain Bardet (FRA/ALM) 0:23.

4. Rigoberto Uran (COL/CAN) 0:29.

5. Mikel Landa (ESP/SKY) 1:17.

On Women's Day

Dr Nawal Al-Hosany: Why more women should be on the frontlines of climate action

Shelina Janmohamed: Why shouldn't a spouse be compensated fairly for housework?

Samar Elmnhrawy: How companies in the Middle East can catch up on gender equality

Justin Thomas: Challenge the notion that 'men are from Mars, women are from Venus'

UAE v Gibraltar

What: International friendly

When: 7pm kick off

Where: Rugby Park, Dubai Sports City

Admission: Free

Online: The match will be broadcast live on Dubai Exiles’ Facebook page

UAE squad: Lucas Waddington (Dubai Exiles), Gio Fourie (Exiles), Craig Nutt (Abu Dhabi Harlequins), Phil Brady (Harlequins), Daniel Perry (Dubai Hurricanes), Esekaia Dranibota (Harlequins), Matt Mills (Exiles), Jaen Botes (Exiles), Kristian Stinson (Exiles), Murray Reason (Abu Dhabi Saracens), Dave Knight (Hurricanes), Ross Samson (Jebel Ali Dragons), DuRandt Gerber (Exiles), Saki Naisau (Dragons), Andrew Powell (Hurricanes), Emosi Vacanau (Harlequins), Niko Volavola (Dragons), Matt Richards (Dragons), Luke Stevenson (Harlequins), Josh Ives (Dubai Sports City Eagles), Sean Stevens (Saracens), Thinus Steyn (Exiles)

Results

6.30pm: Maiden Dh165,000 (Dirt) 1,200m

Winner: Barack Beach, Richard Mullen (jockey), Satish Seemar (trainer).

7.05pm: Handicap Dh170,000 (D) 1,200m

Winner: Way Of Wisdom, Connor Beasley, Satish Seemar.

7.40pm: Maiden Dh165,000 (D) 1,900m

Winner: Woodditton, Connor Beasley, Ahmad bin Harmash.

8.15pm: Handicap Dh185,000 (D) 2,000m

Winner: Secret Trade, Sandro Paiva, Ali Rashid Al Raihe.

8.50pm: Handicap Dh185,000 (D) 1,600m

Winner: Mark Of Approval, Antonio Fresu, Mahmood Hussain.

9.25pm: Handicap Dh165,000 (D) 2,000m

Winner: Tradesman, Pat Dobbs, Doug Watson.

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