Dubai readies for new ‘Nomad’ media and entrepreneur hub

The ‘Nomad’ development will be built close to The Echo Plex, on the Al-Ain Dubai road. (Courtesy Al Ahli Holdings)
Updated 07 May 2018

Dubai readies for new ‘Nomad’ media and entrepreneur hub

  • First phase of project to be launched later this year
  • Members will have access to support and advice from Al Ahli Holding Group’s consultant network.

LONDON: The Dubai-based Al Ahli Holding Group is planning to build a one million square-foot hub for media companies and entrepreneurs to work and even live in as they start to build their businesses. 

The development is the latest in a number of initiatives across the Gulf to drive innovation and entrepreneurship, particularly in the technology sector, as the region tries to diversify its economy away from oil-related industries. 

The ‘Nomad’ development is to be built close to The Echo Plex, off Al Ain Road in Dubai, and will provide affordable co-working space for small and medium-sized businesses (SMEs) and startups, the company said in a statement. The Nomad project aims to attract members from across the region and beyond. 

The hub will also offer studios as well as gaming and technology areas, including one of the largest 3D printing facilities globally, according to the company’s press release. 

Members will be able to benefit from support and advice from Al Ahli Holding Group’s network of consultants.

Subsidized co-living facilities will also be available to help members keep their living costs low as they work on launching or expanding their businesses.

“The sheer size, scope and proposition of Nomad will put the UAE on the map as a global game changer when it comes to the type of creative, disruptive and outstanding entrepreneurship that will guarantee a bright, thriving future for generations to come,” said CEO of Al Ahli Holding Group, Mohammed Khammas.

The project is in line with the UAE’s Vision 2021 which plans to build up a so-called ‘knowledge economy’ by supporting entrepreneurs in the country. 

The hub will take two years to be built — with the first phase including a pilot co-housing community — to be launched at the end of this year, the company said. 

The Nomad project follows previous efforts in Dubai to encourage entrepreneurs, including In5, a platform launched by Tecom Group.

It currently offers facilities to entrepreneurs and start-ups at various locations in the emirate, having launched its innovation center for technology in Dubai Internet City in 2013, followed by design-focused and media centers in 2017. 

Arab News recording exposes Nissan lawyer’s lie on IMF bailout for Lebanon

Updated 01 June 2020

Arab News recording exposes Nissan lawyer’s lie on IMF bailout for Lebanon

LONDON: Arab News has published the recording of an interview with a Nissan lawyer after he denied saying that a bailout of Lebanon by the International Monetary Fund (IMF) was linked to the extradition of fugitive tycoon Carlos Ghosn.

The former Nissan chairman fled to Beirut in December from Japan, where he faced charges of financial wrongdoing.

In a story published in Arab News Japan on Saturday, Sakher El Hachem, Nissan’s legal representative in Lebanon, said the multibillion-dollar IMF bailout was contingent on Ghosn being handed back to Japan. 

The lawyer said IMF support for Lebanon required Japan’s agreement. Lebanese officials had told him: “Japan will assist Lebanon if Ghosn gets extradited,” the lawyer said

“For Japan to agree on that they want the Lebanese authorities to extradite Ghosn, otherwise they won’t provide Lebanon with financial assistance. Japan is one of the IMF’s major contributors … if Japan vetoes Lebanon then the IMF won’t give Lebanon money, except after deporting Ghosn.”

On Sunday, El Hachem denied making the comments. “The only thing I told the newspaper was that there should have been a court hearing on April 30 in Lebanon, but it was postponed because of the pandemic,” he said. In response, Arab News published the recording of the interview, in which he can be clearly heard making the statements attributed to him. 

Japan issued an arrest warrant after Ghosn, 66, escaped house arrest and fled the country.