DUBAI, UAE, Nov. 9, 2024 /PRNewswire/ -- Nakheel, a member of Dubai Holding's pioneering real estate arm Dubai Holding Real Estate, has marked significant progress in the development of Palm Jebel Ali in 2024, with the project progressing at pace to meet 2025 milestones.
The development masterplan was approved by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai in May 2023, who said at the time; "Palm Jebel Ali will further strengthen our urban infrastructure and consolidate the city's emergence as one of the world's leading metropolises. This new groundbreaking project reflects our strategic development plan centred on raising the quality of life and happiness of residents."
The Palm Jebel Ali area received further recognition this year when His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister, Minister of Defence, and Chairman of The Executive Council of Dubai, approved the master plan for the 6.6 kilometre development of Jebel Ali Beach. The project includes a five-kilometre sandy beach, to be developed by Nakheel, as well as a 1.6-kilometre-long Mangrove Beach, to be developed by Dubai Municipality.
Khalid Al Malik, Chief Executive Officer of Dubai Holding Real Estate, said; "At Nakheel we believe in developing dreams, inspired by the vision of our leaders and the hopes of our people. The rapid progress we are currently witnessing on ground at Palm Jebel Ali is testimony to the grand success of our key partnerships and our joint endeavours to ensure we deliver on our commitments."
Several key contracts for the project were awarded throughout 2024, including the construction of a new 6-kilometre road, the contracts for the island's marine works, dredging, land reclamation, beach profiling and sand placement, directly supporting the construction of villas. The first eight fronds of the project are expected to be site-ready for villa infrastructure and civil works by the first quarter of 2025.
Crucially, the contract for the construction of exclusive ultra-luxury villas on the first six fronds of the project has also been awarded and are scheduled for completion by late 2026. Nakheel recently announced their partnership with Dubai Electricity and Water Authority for the development of two substations on Palm Jebel Ali.
Video: Palm Jebel Ali
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Palm Jebel Ali Project Surges Ahead in 2024: Milestones Achieved in Record Time for Dubai's Most Anticipated Development
Palm Jebel Ali Project Surges Ahead in 2024: Milestones Achieved in Record Time for Dubai's Most Anticipated Development
Palm Jebel Ali Project Surges Ahead in 2024: Milestones Achieved in Record Time for Dubai's Most Anticipated Development
SHANGHAI, Nov. 8, 2024 /PRNewswire/ -- On the morning of November 7, at the 7th China International Import Expo (CIIE), Henlius (2696.HK) entered into a strategic collaboration with AL-TIRYAQ AL-KHALAWI Medical Company ("SVAX"), a subsidiary entity of Saudi Arabia's prominent family business group in the healthcare sector, the Fakeeh Family. The two parties will establish joint ventures in Saudi Arabia to integrate Henlius' leading capabilities in the research, development, and manufacturing of biologics with SVAX's local expertise in registration, market access, and commercialization. The collaboration seeks to advance the global registration and commercialization of multiple Henlius products and enhance the accessibility of advanced biologics across the Middle East, North Africa, and Türkiye (MENAT) countries, and benefit more patients.
The signing ceremony was attended by Ms. Weilai Shen, Director of the Foreign Economic Cooperation Department of the Shanghai Municipal Commission of Commerce, Mr. Gang Ling, The Science and Economy Commission of the People's Government of Shanghai Pudong New Area, Mr. Qiyu Chen, Co-CEO of Fosun International, Mr. Yifang Wu, Chairman of Fosun Pharma, Mr. Wenjie Zhang, Executive President of Fosun Pharma and Chairman of Henlius, Mr. Ammar Fakeeh, Chairman of the Family Business, and Prof. Mazen M. Hassanain, Founder and Managing Director of SVAX.
According to the agreement, Henlius and SVAX will establish joint ventures for commercialization and manufacturing in Saudi Arabia and will collaborate on a series of Henlius products in the MENAT region, including HANDAYUAN (adalimumab, HLX03) and HANBEITAI (bevacizumab, HLX04), to conduct local commercial and manufacturing activities. In addition, the two parties will initially focus on jointly investing in the development of Henlius' investigational biosimilar of pembrolizumab, HLX17, to accelerate its global registration and commercialization.
Mr. Wenjie Zhang, Executive President of Fosun Pharma and Chairman of Henlius, stated, "Our collaboration with SVAX is a crucial step in Henlius' global blueprint, strengthening our presence in key markets while enhancing our international competitiveness. Through this partnership, we aim to drive innovation and growth for both parties, advance the research and manufacturing of high-quality biologics, and deliver more affordable therapies to patients in MENAT countries, thereby contributing to the global healthcare initiative. "
Dr. Jason Zhu, CEO of Henlius, said, "We are delighted to collaborate with SVAX. This partnership not only complements our global strategy but also reaffirms our commitment to 'patient-centered' care. SVAX's dedication to innovation and improving regional healthcare closely aligns with Henlius' mission. Together, by combining SVAX's extensive resources and local expertise in MENAT with Henlius' global outlook and innovative capabilities, we are poised to bring more high-quality, innovative biologics to patients across the region and beyond."
Mr. Ammar Fakeeh, Chairman of the Family Business, stated, "We are honored to forge this strategic partnership with Henlius, whose excellence in biopharmaceutical innovation perfectly complements our mission to elevate healthcare in the MENAT region. By joining forces, we are enhancing access to essential, high-quality biologics and strengthening the foundations of a resilient healthcare ecosystem in Saudi Arabia and beyond. This collaboration represents an important step forward in delivering advanced therapies to patients, embodying our commitment to health, innovation, and sustainable impact."
Prof. Mazen Hassanain, Founder and Managing Director of SVAX, stated, "We at SVAX are delighted to enter this strategic partnership with Henlius, a company known for its commitment to high-quality and innovative biologic medicines. Combining our knowledge and experience in regulatory, marketing, sales, and local manufacturing with Henlius' expertise in biopharmaceutical development and global supply, we aim to bring cutting-edge therapies to the MENAT region and impact patients' lives. This partnership aligns with our dedication to advancing healthcare in the Kingdom of Saudi Arabia and beyond, fostering an ecosystem where life-changing therapies are accessible to those who need them. Together with Henlius, we look forward to driving growth, innovation, and healthcare accessibility across the region."
As a global, innovative biopharmaceutical company, Henlius is dedicated to offering high-quality, affordable, and innovative biologic medicines for patients worldwide, focusing on oncology, autoimmune diseases, and ophthalmic diseases. Henlius continuously enhances the development and operational efficiency of its integrated R&D, production, and commercialization platform. Through various measures to improve product accessibility, the company drives the commercial growth of core products and achieves sustained high-quality profitability. Henlius has proactively built a diversified, high-quality product pipeline covering over 50 molecules. Six products have been launched in China, three have been approved for marketing in overseas markets, and 24 indications are approved worldwide, benefiting over 670,000 patients. Specifically, HANQUYOU (trastuzumab, trade name: HERCESSIâ„¢ in the U.S. and Zercepac® in Europe) has been approved in 49 countries and regions globally, making it the China-developed mAb biosimilar with the most marketing approvals and benefiting over 215,000 patients with breast and gastric cancer. Henlius collaborates with international partners to promote China's biopharmaceutical innovation and advance global development, with a presence across Asia, Europe, Latin America, North America, and Oceania.
The MENAT region represents a significant part of the global pharmaceutical market. With growing healthcare needs and supportive government policies, the biopharmaceutical industry in the area is witnessing a rapid transformation. In June 2024, Zercepac® successfully shipped to Saudi Arabia, becoming the first China-developed monoclonal antibody (mAb) to enter the Middle Eastern market. The strong tie between Henlius and SVAX will help achieve joint development for the two parties and foster pharmaceutical innovation in emerging markets. Henlius remains committed to enhancing its global competitiveness, meeting global clinical needs, and spurring biopharmaceutical innovation.
About SVAX
SVAX is a pioneering Saudi company with a mission to localizing biomanufacturing within Saudi Arabia and ensuring a steady, high-quality supply of vaccines and biologics for the region. Established to bolster national health security, SVAX actively supports the region's preparedness for pandemics against infectious diseases. Aligned with Saudi Vision 2030 and the Saudi National Biotechnology Strategy, the company is at the forefront of nationalizing the biomanufacturing sector by employing highly skilled Saudi scientists and professionals.
SVAX is distinguished as a local developer and manufacturer of essential biologics that serves Saudi Arabia and the broader MENAT region. The company operates through three strategic business segments: innovation, manufacturing, and advisory services. Its innovation efforts are focused on advanced R&D in biologics and vaccines, driving forward innovation and collaboration to bring cutting-edge therapies to market. In manufacturing, SVAX is establishing a state-of-the-art technologies and facilities to produce vaccines and biologics that meet global standards. Meanwhile, through its advisory services, SVAX offers expert consulting to support and accelerate the development of a strong biotech industry across the region.
Through these initiatives, SVAX is uniquely positioned to drive transformative change in biomanufacturing, ensuring that the region remains resilient, innovative, and prepared for future healthcare challenges.
About Henlius
Henlius (2696.HK) is a global biopharmaceutical company with the vision to offer high-quality, affordable, and innovative biologic medicines for patients worldwide with a focus on oncology, autoimmune diseases, and ophthalmic diseases. Up to date, 6 products have been launched in China, 3 have been approved for marketing in overseas markets, 24 indications are approved worldwide, and 4 marketing applications have been accepted for review in China, the U.S. and the EU, respectively. Since its inception in 2010, Henlius has built an integrated biopharmaceutical platform with core capabilities of high-efficiency and innovation embedded throughout the whole product life cycle including R&D, manufacturing and commercialization. It has established global innovation centre and Shanghai-based commercial manufacturing facilities certificated by China, the EU and U.S. GMP.
Henlius has pro-actively built a diversified and high-quality product pipeline covering over 50 molecules and has continued to explore immuno-oncology combination therapies with proprietary HANSIZHUANG (anti-PD-1 mAb) as backbone. Apart from the launched products HANLIKANG (rituximab), the first China-developed biosimilar, HANQUYOU (trastuzumab, trade name: HERCESSIâ„¢ in the U.S., Zercepac® in Europe), a China-developed mAb biosimilar approved in China, Europe and U.S., HANDAYUAN (adalimumab), HANBEITAI (bevacizumab) and HANNAIJIA (neratinib), the innovative product HANSIZHUANG has been approved by the NMPA for the treatment of MSI-H solid tumours, squamous non-small cell lung cancer (sqNSCLC) and extensive-stage small cell lung cancer (ES-SCLC), and esophageal squamous cell carcinoma (ESCC), making it the world's first anti-PD-1 mAb for the first-line treatment of SCLC. What's more, Henlius has conducted over 30 clinical studies for 16 products, expanding its presence in major markets as well as emerging markets.
** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **
Henlius and SVAX Forge Strategic Partnership in the MENAT Market
