News

Dubai Unveils Plans For Climate-Controlled Cycling Highway

The city aims to promote walking and cycling as primary modes of transport for residents by 2040.

Published

1 year ago

February 1, 2023

Nour Nasir

dubai unveils plans for climate-controlled cycling highway

URB

When it comes to sustainable modes of transport, countries like the Netherlands have it pretty easy with their temperate climates. On the other hand, the sweltering heat of the Middle East isn’t ideal for cycling or walking to the office.

Arab countries, therefore, need to think outside the box when implementing sustainable (think car-free) forms of transportation, especially if they aim to meet emissions targets as we head toward 2030 and beyond.

A recent announcement by Dubai authorities provides a glimpse into a different green future. City planners have recently unveiled a 93-km climate-controlled cycling highway, named The Loop, with the aim of making cycling and walking to work feasible for up to 80% of residents by the year 2040.

Dubai-based sustainable developer URB is leading the project, and the route will feature a “climate-controlled all-year environment” to make walking and cycling more viable for residents, in line with the Emirate’s 20-minute city initiative.

Also Read: Toothpick Is Aiming To Digitize Dentalcare In The UAE & Beyond

The elaborate cycle track is currently still at the R&D stage but is already set to feature leisure and community spaces along its length, providing “an enjoyable mode of sustainable transport, no matter the weather conditions,” the development team said in a recent statement.

In November 2022, URB won two contracts for cycling paths in Dubai’s Al Khawaneej and Mushrif, which form part of a 278-km cycling masterplan for the region. The team will use their experience to develop the new climate-controlled urban highway.

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.