News

Dubai Announces Plans To Become A 20-Minute City

The move aligns with the Dubai Urban Plan 2040, which aims to create the world’s most liveable city.

Published

8 months ago

December 11, 2023

Nour Nasir

dubai announces plans to become a 20-minute city

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Dubai’s Roads and Transport Authority (RTA) has revealed an updated strategic plan for 2024-2030, which will help the emirate reach its goal of becoming the world’s most liveable city.

The Dubai “20-minute city” plan aims to make urban areas easily accessible by ensuring that 80% of regular journeys can be completed in a maximum of 20 minutes on foot or by bicycle.

The Higher Committee for Strategic Planning and Corporate Transformation at #RTA chaired by His Excellency Mattar Al Tayer, Director General, Chairman of the Board of Executive Directors of RTA, endorsed an updated RTA’s Strategic Plan 2024-2030. The plan is aligned with Dubai… pic.twitter.com/6apr3JG3to

— RTA (@rta_dubai) December 10, 2023

On Sunday, December 10, 2023, Dubai’s Higher Committee for Strategic Planning and Corporate Transformation at the Roads and Transport Authority (RTA) announced that it aims to achieve 5 key objectives relevant to “integrated and innovative mobility”. The goals align with the Dubai Urban Plan 2040, which aims to make the UAE the world’s most liveable destination.

The latest plan is designed to facilitate the roads and transport development, creating systems that will support the 20-minute city plan and emphasizing accessibility and “multi-modal transport integration”. Officials also aim to expand smart mobility services.

Also Read: Dubai Startup Creates Iron Man-Style Smart Contact Lens

“RTA’s future entails studying and deploying integrated and soft mobility solutions along with connected and real-time mobility systems and self-driving transport. RTA intends to operate self-driving Chevrolet Bolt autonomous electric vehicles, positioning Dubai as the first city in the world to operate American Cruise self-driving vehicles outside the USA,” said Mattar Al Tayer, Director General Chairman of the Board of Executive Directors of RTA.

Dubai’s latest objectives follow a list of ideas first revealed in 2021. Officials explained that they aimed to have around half of the population living within 800 meters of the nearest public transport hub and that space used for hotels and tourist activities would be increased by 134%. In addition, land designated for educational and health facilities would be increased by 25%.

News

Mamo Completes $3.4M Funding Round To Enhance Fintech Services

The startup will use the influx of cash to expand into Saudi Arabia and across the wider GCC while improving its product offering.

Published

1 day ago

July 25, 2024

Nour Nasir

Mamo

UAE-based fintech Mamo has announced the completion of a $3.4 million funding round that will help the startup extend its market presence and improve its product offering. Investors included 4DX Ventures, the Dubai Future District Fund and Cyfr Capital.

Mamo’s platform offers “payment collection, corporate cards and expense management” to help small and medium-sized businesses consolidate and streamline their operations. With the latest influx of capital, Mamo will further develop its comprehensive suite of services and begin testing its product lines in Saudi Arabia, further extending its footprint across the GCC.

Imad Gharazeddine, co-founder and CEO of Mamo, stated: “We’ve been in the market for a while now and are incredibly proud of what our team has achieved. The holistic and expansive nature of our product offering has helped us continue to grow sustainably. This additional funding will allow us to reach our medium-term goals even faster. The support from new and existing investors is a testament to our strong expertise and the ability to deliver on our customer promise”.

Daniel Marlo, General Partner of lead investor 4DX Ventures, added: “We have immense trust in Imad’s vision, leadership and Mamo’s innovative approach to provide a user-friendly and comprehensive financial solution for SMEs that makes financial management more accessible and efficient. We are proud to partner with them and support their mission”.

Also Read: A Guide To Digital Payment Methods In The Middle East

Amer Fatayer, Managing Director of Dubai Future District Fund’s investment team, also commented: “Mamo’s localized product lines serve as an infrastructure for SME payments and spend management in UAE, a segment that is underserved by the country’s current banking infrastructure. The team has taken a product-first approach to consolidating SMEs’ financial journeys and building a fintech solution deeply embedded in a business’s core operations”.

To date, Mamo has raised around $13 million in investment funding and now boasts a team of 30 people. The company’s intuitive financial services platform has allowed over 1,000 businesses to consolidate their financial operations and significantly reduce payment fees.