DAMAC Founder and Chairman, Hussain Sajwani to speak on global real estate at WEF DAVOS 2023

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DAMAC Founder and Chairman, Hussain Sajwani to speak on global real estate at WEF DAVOS 2023

 Heads of states and leaders from around the world is set to convene at the World Economic Forum Annual Meeting 2023 from today, January 16 to January 20, 2023 in Davos, Switzerland.

The 2023 edition will host the 20th year of its Open Forum with topics of discussion to include pressing issues on climate, nature and people. 

During the Forum, Hussain Sajwani, Founder and Chairman of DAMAC Group will speak at a panel titled ‘Real Estate at a Turning Point’. The panel will focus on global real estate and how despite disruptions to the industry such as rising interest rates, changing lifestyle demand drivers, and new and innovative ownership structures like fractionalisation, it remains core allocation for most investment portfolios.

“I have had the pleasure to attend the World Economic Forum for over a decade now. The Forum has played a vital role in helping policymakers and change activists to work on movements and concerns that positively benefit global citizens. I am honoured to be here for the 2023 edition to represent DAMAC and Dubai on this prestigious platform, and am confident to once again take back home valuable inputs and ideas from leadership around the world,” says Sajwani.

The session will be divided into three sections – near and medium-term outlooks, opportunities and changes across both the capital markets and the real world/real economy and what those changes imply in terms of broader industry ambitions related to issues like building decarbonisation, housing affordability, technology, equitable urbanisation, etc.

Under the theme, Cooperation in a Fragmented World, WEF 2023 aims to call on world leaders to address immediate economic, energy and food crises while laying the groundwork for a more sustainable, resilient world. 

The 2023 agenda will include five thematic programmes – Addressing the Current Energy and Food Crises in the context of a New System for Energy, Climate and Nature; Addressing the Current High Inflation, Low High Debt Economy in the context of a New System for Investment, Trade and Infrastructure; Addressing the Current Industry Headwinds in the context of a New System for Harnessing Frontier Technologies for Private Sector Innovation and Resilience; Addressing the Current Social Vulnerabilities in the context of a New System for Work, Skills and Care and Addressing the Current Geopolitical Risks in the context of a New System for Dialogue and Cooperation in a Multipolar World.

EMAAR DEVELOPMENT RECORDS HIGHEST-EVER PROPERTY SALES OF AED 23.167 BILLION (US$ 6.307 BILLION) IN THE FIRST NINE MONTHS OF 2022

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EMAAR DEVELOPMENT RECORDS HIGHEST-EVER PROPERTY SALES OF AED 23.167 BILLION (US$ 6.307 BILLION) IN THE FIRST NINE MONTHS OF 2022

• Property sales for Q3 2022 (July to September) have increased by 12% compared to Q3 2021.
• Emaar’s sales backlog has increased to AED 37.186 billion (US$ 10.124 billion), to be recognised as revenue in the coming years.

Dubai, United Arab Emirates; November 14, 2022: Emaar Development PJSC (DFM: EMAARDEV), the UAE build-to-sell property development business, majority-owned by Emaar Properties PJSC (DFM: EMAAR), achieved its highest-ever property sales during the first nine months (January to September) of 2022, maintaining record-breaking momentum built in the first half of the year. Property sales for the first nine months of 2022 is increased by 11% to AED 23.167 billion (US$ 6.307 billion) compared to AED 20.943 billion (US$ 5.702 billion) in the first nine months of 2021 and property sales for Q3 2022 (July to September) increased by 12% to AED 7.951 billion (US$ 2.165 billion) compared to Q3 2021.

During the first nine months of 2022, Emaar Development successfully launched twenty projects in various master plans, such as Talia and Orania in The Valley, Elie Saab II and Bliss 2 in Arabian Ranches III, Rosewater, Lotus, Creek Palace, Orchid, Creek Crescent and Island Park in Dubai Creek Harbour, St. Regis in Downtown Dubai, Address The Bay and Beachgate by Address in Emaar Beachfront, Greenview 3 in Emaar South, Park Field, Lime Garden, Hills Park and Address Hillcrest in Dubai Hills Estate and Seagate in Rashid Yachts & Marina.

Performance Highlights

In the first nine months of 2022 (January to September), Emaar Development reported EBITDA in line with last year and achieved 19% growth in net profit compared to the first nine months of 2021.

Due to this exceptional performance, Emaar now has a robust sales backlog of AED 37.186 billion (US$ 10.124 billion), which will be recognised as revenue in the coming years.

“Following a record-breaking first half of 2022, we have maintained momentum and growth by delivering another excellent set of sales figures in Q3. Across the board in our portfolio of retail, hospitality and entertainment, we are seeing demand for the exceptional communities and amenities we deliver. Strategically, Emaar is attuned to the market and has a reputation for delivering developments of excellent standards which generates exceptional consumer confidence. This, aligned with a strong ongoing project launch list has enabled Emaar to maintain an upward trajectory for sales and growth,” an Emaar spokesperson said.

Dubai continues to lead the way as a business hub for trade, financial services, logistics, travel and hospitality, with emerging sectors witnessing growth, such as technology, green energy, healthcare and education. The region attracts a community of skilled professionals, and investors continue to invest in the region’s steadfast growth potential, reflective of Emaar’s sales records for Q3 2022.

Delivery update

Emaar Development has delivered over 4,700 residential units during the first nine months of 2022 across prime locations, including Dubai Hills Estate, Dubai Creek Harbour, Downtown Dubai, Emaar Beachfront, Arabian Ranches and Emaar South. As of September 2022, Emaar has delivered more than 56,700 residential units, with over 26,200 residences currently under development in the UAE.

NAKHEEL APPOINTS GINCO GENERAL CONTRACTING AND BHATIA GENERAL CONTRACTING FOR TILAL AL FURJAN PROJECT

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<strong>NAKHEEL APPOINTS GINCO GENERAL CONTRACTING AND BHATIA GENERAL CONTRACTING FOR TILAL AL FURJAN PROJECT</strong>

Nakheel, the world-leading master developer, has appointed GINCO General Contracting and Bhatia General Contracting to undertake the construction works of its Tilal Al Furjan project.

GINCO General Contracting will work on the first phase of the project, comprising 235 units, while Bhatia General Contracting will work on second phase, comprising 246 units.

GINCO General Contracting brings to the project over 35 years of experience, specialising in construction, maintenance and rehabilitation of various commercial, industrial, residential and institutional establishments. Bhatia General Contracting has delivered over 250 projects over four decades, earning its reputation as a leading civil contractor since its establishment in 1975.

Located within the Al Furjan master community, Tilal Al Furjan will be a gated community with an ocean of lush, green landscaping and expansive outdoor spaces. A collection of four- and five-bedroom villas, Tilal Al Furjan will offer residents an elevated lifestyle, stylish homes and a host of curated amenities for families.

Homes are connected by cycle paths and walk-ways leading to shared community spaces, encouraging community integration. Residents will benefit from large pools with kids’ pools, tennis and basketball courts, shaded play areas, family picnic areas and outdoor barbeque areas.

The project has sold out, illustrating the strong demand for Nakheel’s developments, and handover of the project is expected by end of 2024.

EMAAR SIGNS A DEAL WITH DUBAI HOLDING TO FULLY ACQUIRE DUBAI CREEK HARBOUR

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EMAAR SIGNS A DEAL WITH DUBAI HOLDING TO FULLY ACQUIRE DUBAI CREEK HARBOUR

Emaar Properties PJSC (DFM: EMAAR) announced today it would fully acquire Dubai Creek Harbour, the major development located along the historic Dubai Creek waterfront, from Dubai Holding for a consideration of AED 7.5 billion to be paid equally in cash and shares of Emaar Properties PJSC, thus making Dubai Holding the second largest shareholder of Emaar.

Emaar recorded sales of AED 4.2 billion in 2021 and AED 3.6 billion sales in Dubai Creek Harbour in the first half of 2022. Dubai Creek Harbour has approximately 100 million sq. ft of future development which will provide future profit potential to Emaar.

A spokesperson of Emaar said: “The purchase agreement with Dubai Holding represents another important achievement in Emaar’s rich history as we continue to expand our strategic land bank and build sustained value for our shareholders. We are determined to support the Government’s vision for sustainable urban development in Dubai while providing a redefined experience for residents and visitors.”

A spokesperson of Dubai Holding said: “We are pleased to announce the sale of Dubai Creek Harbour to Emaar, subject to finalisation. This is a landmark transaction that benefits both parties. As joint venture partners, we have created meaningful value in Dubai Creek Harbour, and the transaction represents a significant monetisation for us. We look forward to our investment in Emaar as a reference shareholder and the diversification benefits it offers, and we are confident that Dubai Creek Harbour will continue to reach greater heights and success.”

Majid Al Futtaim to open Snow Oman, the largest snow park in MENA region, on 24 December

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Majid Al Futtaim to open Snow Oman, the largest snow park in MENA region, on 24 December

Majid Al Futtaim, the leading shopping mall, communities, retail and leisure pioneer across the Middle East, Africa, and Asia, is excited to announce the opening of Snow Oman on 24 December. Be the first to experience the MENA region’s largest indoor snow park by booking your advance tickets from snowoman.com.

Set in the heart of the Mall of Oman, Snow Oman covers a sprawling area of 14,830 square metres with a “Desert Blizzard” theme – a reimagined world where Oman’s cityscapes and sand dunes are covered in real snow. The coolest must-visit destination will feature family-friendly rides such as the Mountain Thriller, Snow Bullet, Slide Winder, Cloud Climber, and Zorb Ball, unique attractions such as Cold Town Muscat, Frozen Shipwreck and Lighthouse, and a 475-square metre ice rink. Like its sister brands Ski Dubai and Ski Egypt, Snow Oman is now home to a colony of king and gentoo penguins who are provided with the best possible care in a custom-built penguinarium. 

In 2005, Majid Al Futtaim pioneered a one-of-a-kind, sub-zero leisure offering in the Mall of the Emirates: Ski Dubai. The award-winning experience has been recognised as the World’s Best Indoor Ski Resort by the prestigious World Ski Awards for seven consecutive years. In 2017, Ski Egypt opened in the Mall of Egypt and set an all-new record for being the first of its kind in the African continent.

Be the first to experience Oman’s first and only indoor snow destination, Snow Oman. Book your tickets now at snowoman.com.

AL GHURAIR INVESTMENT RECOGNISED AS A TOP EMPLOYER IN THE UNITED ARAB EMIRATES FOR 2023

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AL GHURAIR INVESTMENT RECOGNISED AS A TOP EMPLOYER IN THE UNITED ARAB EMIRATES FOR 2023

The achievement amplifies the Group’s ongoing commitment to cultural transformation.

• Al Ghurair Investment reiterates continued alignment with the United Nations’ Sustainable Development Goals (SDGs).

Al Ghurair Investment, one of the largest diversified family business groups in the United Arab Emirates (UAE), has been recognised as a Top Employer in the country by the Top Employers Institute for 2023. The recognition, a first of its kind for Al Ghurair Investment, and for a family business in the region, marks a momentous achievement that amplifies the group’s ongoing commitment to driving cultural transformation.

The certification showcases Al Ghurair Investment’s dedication to transforming the world of work and exhibits this by surpassing traditional human resources practices. As part of the group’s Purpose to facilitate and empower meaningful change, Al Ghurair Investment has continued to ‘Enhance Life’ for the communities it serves and the employees that make it possible. Driven by its vision to deliver better, both outwards and within, the family business has cultivated an environment that encourages innovation, sparks curiosity, and nurtures ideas through mutual collaboration and partnership.

Commenting on the achievement, John Iossifidis, Group CEO, Al Ghurair Investment, said: “We are immensely proud to be recognised for our commitment towards cultural transformation and fostering an environment where people can thrive, and be their best selves, every day. This recognition is a culmination of our ongoing efforts to enhance the regional talent hub through engaging and encouraging our people to perform, learn, and most importantly, grow. Our working environment is people-centric, stable and fosters innovation – where every voice has an equal opportunity to be heard and our people are empowered to be part of the company’s legacy.”

Since beginning the Group-wide transformation journey two years ago, Al Ghurair Investment launched its ‘Fit For Future’ model and incorporated it into the organisation’s ‘Employee Value Proposition’ and talent strategy to engage and empower people along their career pathways. The programme, aligned with the Group’s commitment to supporting Sustainable Development Goals (SDG 8), focuses on nurturing skills and advancing career pathways across its diverse talent base.

Debra Teles, GVP – People and Culture, Al Ghurair Investment comments: “We are honoured to be recognised as a leading company in the UAE and one that our people are proud to work for. Serving our community, valuing our people for their unique skills, and providing a psychologically safe work culture are central to our purpose as an organisation. We owe our gratitude to our people across the business for this achievement, for their continued and passionate commitment to our cultural transformation, as we strive to be better, every day. We are excited to continue to put our people first as we move into the New Year!”

Commenting on the recognition, David Plink, CEO, Top Employers Institute, said: “Exceptional times bring out the best in people and organisations. And we have witnessed this in our Top Employers Certification Programme this year: exceptional performance from the certified Top Employers 2023. These employers have always shown that they care for the development and well-being of their people. By doing so, they collectively enrich the world of work. We are proud to announce and celebrate this year’s group of leading people-oriented employers: the Top Employers 2023.”

The Top Employers Institute programme certifies organisations based on the participation and results of their HR Best Practices Survey. This survey covers six HR domains consisting of 20 topics including People Strategy, Work Environment, Talent Acquisition, Learning, Diversity, Equity & Inclusion, Wellbeing and more.

Top Employers Institute is the global authority on recognising excellence in People Practices. We help accelerate these practices to enrich the world of work. Through the Top Employers Institute Certification Programme, participating companies can be validated, certified, and recognised as an employer of choice. Established over 30 years ago, Top Employers Institute has certified 2 052 organisations in 121 countries/regions. These certified Top Employers positively impact the lives of over 9.5 million employees globally.

Ahmed Galal Ismail appointed Chief Executive Officer of Majid Al Futtaim Holding

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Ahmed Galal Ismail appointed Chief Executive Officer of Majid Al Futtaim Holding

Majid Al Futtaim, the leading shopping malls, communities, retail and leisure pioneer across the Middle East, Africa, and Central Asia, today announced that Ahmed Galal Ismail has been appointed Chief Executive Officer of Majid Al Futtaim Holding.  
  
Ahmed Galal Ismail assumes the position from Alain Bejjani, who served in the role for eight years. As the Chief Executive Officer of Majid Al Futtaim – Properties, Ahmed has been responsible for Majid Al Futtaim’s malls, hotels, communities and project management operations since 2018. He previously served as CEO of Majid Al Futtaim – Ventures and VP Strategy of Majid Al Futtaim – Holding.  
  
Following his appointment today, Ahmed Galal Ismail said: “I am committed to building on our strong, customer-focused strategy that has allowed us to deliver sustained growth. Our prudent financial discipline and strong governance mean that we are well-positioned to remain focused on sustainable value creation and creating great moments for everyone, everyday.” 
  
Following a steady economic recovery in the retail and leisure sectors, Majid Al Futtaim reported revenue of AED18 billion for H1 2022, an increase of 15% compared to H1 2021. EBITDA rose 18% to AED 1.9 billion, a result of the company’s solid operational performance, driven by diversification efforts and a continued focus on cost efficiencies and scale. The Group continues to maintain a strong balance sheet with total assets valued at around AED 62.9 billion. Net borrowings stood at AED 11.2 billion. 

Majid Al Futtaim Launches Inaugural MENAP Economic Integration Barometer at Davos 2023

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Majid Al Futtaim Launches Inaugural MENAP Economic Integration Barometer at Davos 2023

• World’s first MENAP Economic Integration Barometer creates standardised definitions and measurement tools for economic integration
• The Barometer tracks progress on four key integration metrics: trade, intangibles, capital, and people


Dubai, UAE & Davos, Switzerland, January 18, 2023: Majid Al Futtaim, the leading shopping mall, communities, retail and leisure pioneer across the Middle East, Africa, and Asia, has announced the launch of the world’s first MENAP Economic Integration Barometer at Davos 2023, in partnership with the World Economic Forum and McKinsey & Company. 


The Barometer, which has been developed to systematically track progress on an annual basis, will offer a deeper understanding of the status of MENAP economic integration, and the region’s interconnectedness with other world markets. 


Ahmed Galal Ismail, Chief Executive Officer at Majid Al Futtaim – Holding, will discuss the Barometer during a special session on closer economic integration that explores how common standards, selective deregulation, the sharing of data and the free movement of goods and services could catalyse inter- and intraregional trade across the region and help unlock its full economic potential. 


Designed to trigger dialogue and foster collective action by following the region’s progress across four key metrics – trade, intangibles, capital, and people – the Barometer will provide stakeholders with tools to help standardise the interpretation and definition of economic integration. A major insight from developing the Barometer was the scarcity of data available and inconsistency in which the different metrics are measured.


Ahmed Galal Ismail, Chief Executive Officer at Majid Al Futtaim – Holding, said: “Since publishing our inaugural report into the impact greater economic integration could afford the MENAP region, we have seen a number of impressive and important steps taken to foster improved intra-regional prosperity. Whilst extremely encouraging, these efforts have also highlighted the development disparity across the MENAP region. We recognise that now, more than ever in this age of geopolitical instability, economic uncertainty, and climate crisis, that our success hinges on our collective efforts to champion improved economic integration across our region.
The MENAP Economic Integration Barometer presents a baseline from which to assess our progress, providing transparent and systematic tracking to trigger dialogue and initiate action. Our aspiration is to publish an updated barometer, coinciding each year with the World Economic Forum, and engage with key stakeholders at Davos on the results and the key imperatives to drive incremental progress.”


Over several months, Majid Al Futtaim has worked with McKinsey Global Institute to develop a barometer capable of providing real-world insights that demonstrate where the region stands today, how it is evolving and where progress will take it, all based on real-world metrics. Furthermore, with the support of the regional and global community, a repository of clean, granular and consistent data can now be collected, which will allow the MENAP Economic Integration Barometer to evolve over time to play that role.


Highlights from the first MENAP Economic Integration Barometer


• The dearth of trade between countries in the region is laid bare in the inaugural MENAP Economic Integration Barometer, which shows that intraregional exports account for only 2.9% of total MENAP GDP. This compares to a global average of 7.9% and 22% across the European Union (EU), Norway, Switzerland, and the UK. However, when looking at the power of the region to supply goods abroad, MENAP dominates other regions, with global exports valued at 34% of GDP compared to a global average of 25.5%. 


• 22% of MENAPs trade to the world stems from fossil fuels, with an additional 7% from metals and chemicals. As such, MENAP, a cluster of individually resource-rich countries with fewer distinct manufactured goods (non-oil-based) to export, has less trade between regions as a portion of GDP.


• The lack of integration is not confined to physical goods. The intraregional flow of intellectual property (IP) is just 1.4% compared to 62% in the EU, Norway, Switzerland, and the UK with much of the latter being driven by pharmaceutical developments, bio-tech ideation, and aerospace innovation. 


• FDI inflows to MENAP lags top performing regions, and MENAP countries have lower investments in each other relative to other regions. However, this is not uniform across countries in MENAP; Dubai has been ranked the world’s top destination for FDI for 2 consecutive years. 


• The MENAP region does, however, perform better than much of the rest of the world on unemployment numbers, with only 7.4% compared to the global average of 7.6%. However, the barometer also raises concerns about migratory trends in the region. In 2019, nearly 15 million people migrated intra-regionally in MENAP, with approximately 50% of all professionals who moved, leaving the region completely. This compares to only 0.5% of the total population leaving North America in 2021, compared to MENAPs 2%. One can assume that sufficient working, studying, and living opportunities are the key drivers.


Majid Al Futtaim’s work in developing the MENAP Economic Integration Barometer follows several years of leadership in promoting discussion on the importance of economic integration as an enabler of sustainable and inclusive economic development. The company’s first report – A Perspective on the Economic Potential of the MENAP Region was launched in 2020, followed by a revised edition, The Time is Now: Unlocking the Economic Potential of MENAP, which was released at the May 2022 World Economic Forum Annual Meeting.

Toyota showcases pioneering hydrogen FVEV technology at WFES

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Toyota showcases pioneering hydrogen FVEV technology at WFES

Company exhibits the zero-emission Mirai Fuel Cell Electric Vehicle and Fuel Cell Forklift during prestigious annual sustainable energy conference in Abu Dhabi

Dubai, UAE – Toyota’s environmentally friendly mobility solutions are in the spotlight this week during the World Future Energy Summit in Abu Dhabi, where the hydrogen-powered Toyota Mirai Fuel Cell Electric Vehicle (FCEV) and a Fuel Cell Forklift developed by Toyota Industries Corporation will be on display throughout the three-day event. Both products utilize innovative hydrogen FCEV technology to deliver efficient performance with zero emissions, playing an important role in Toyota’s multiple pathway approach toward carbon neutrality.

Toyota began work on its hydrogen FCEV technology in 1992, which converts hydrogen and oxygen into electricity to power an electric motor and produces only water as a by-product. The company’s commitment to continually refining this technology can be seen in the groundbreaking Toyota Mirai, which offers best-in-class efficiency with zero emissions. The pioneering FCEV delivers a class-leading cruising range of 650 km and can be refueled in under five minutes, ensuring drivers enjoy the same levels of performance and convenience associated with a traditionally-powered vehicle.

The versatility of the Toyota Fuel Cell System has enabled a wide range of applications in areas such as trucks, buses, boats, and stationary generators, including the FC Forklift. This innovative solution has a refueling time of just 2 – 3 minutes, helping to ensure around-the-clock availability and making the FC Forklift especially well-suited to multi-shift operations where trucks are constantly in use.

Kei Fujita, Chief Representative, Middle East and Central Asia Representative ‎Office, Toyota Motor Corporation, comments: “We are pleased to showcase two of our hydrogen-powered mobility solutions at the World Future Energy Summit, a highly significant platform that contributes to a more sustainable tomorrow. With a fueling time of less than five minutes, Toyota’s zero-emission hydrogen FCEV technology combines greater convenience with enhanced sustainability and is one of many promising solutions we have been exploring as part of our drive for carbon neutrality. I would like to extend my gratitude to the organizers of this important and timely event, the goals of which align closely with Toyota’s ongoing drive for sustainability.”

Recognized as one of the world’s most influential gatherings for the energy industry, the World Future Energy Summit brings together key stakeholders with the goal of accelerating the transition toward cleaner sources of energy. Toyota’s participation comes as part of its long-term commitment to developing carbon neutral mobility solutions. The company successfully launched the Prius – the world’s first mass-produced Hybrid Electric Vehicle (HEV) – in 1997 and continues to explore diverse technology options to meet the diverse needs of users across the globe. Today, Toyota offers a full lineup of sustainable mobility solutions including HEVs, Plug-in ‎‎Hybrid Electric Vehicles (PHEVs), Battery Electric Vehicles (BEVs), and FCEVs, and has sold more than 22 million electrified vehicles[i] across the globe.

Fujita explained: “At Toyota, we recognize that carbon neutrality is a goal with multiple pathways; there is no single best solution for all use cases in all parts of the world. By focusing on the development of diverse electrified powertrain options, we are contributing to greater choices for drivers that will increase the adoption of eco-friendly vehicles. We will continue to seek out new technologies that can accelerate the journey toward a carbon-neutral society where people can enjoy happier, healthier, and more sustainable lives.”

The hydrogen-powered Toyota Mirai FCEV and Toyota FC Forklift are on display at the World Future Energy Summit 2023, which is taking place at the Abu Dhabi National Exhibition Centre (ADNEC) from 16 – 18 January.

Toyota Launches All-New Prius HEV in Japan

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Toyota Launches All-New Prius HEV in Japan

Stylish design, sporty driving performance, and greater fuel efficiency combine to create a car customers will enjoy and cherish for generations to come

Toyota Motor Corporation (Toyota) announces today that it has commenced sales of all-new Prius Series Parallel Hybrid (HEV) models. It will also launch Plug-in Hybrid (PHEV) models around March this year.Z (2.0-liter HEV 2WD) (Model with options shown)Z (2.0-liter HEV 2WD) (Model with options shown)

Launched in 1997 as the world’s first mass-produced hybrid car, the Prius has driven uptake of HEVs as a new-generation eco-car with outstanding fuel efficiency. These days, hybrid technologies are employed in a wide range of different models that are loved and enjoyed by people all around the world.

With a range of powertrain options being developed to promote carbon neutrality, Toyota wanted to create a new Prius HEV that customers would enjoy and cherish as the car of choice for generations to come. Developed under the “Hybrid Reborn” concept, this new model is an exhilarating package that adds a design inspiring love at first sight and captivating driving performance to its core strength as an environmentally friendly car.

The main features of the new Prius are as follows.

Vehicle outline

A design inspiring love at first sight

  • Inheriting the signature monoform silhouette of the original Prius, the new Prius has been reborn with a lower center of gravity and even more stylish proportions. The simple yet sculpted body expresses exhilaration that appeals to the senses and a universal beauty that will remain popular into the future.
  • The “island architecture” concept achieves a low-stress, spacious interior with a cockpit that makes it easy to concentrate on driving. Altogether, the interior offers intuitive operation and an enjoyable driving experience.
  • A total of eight body colors are available, including two newly developed, solid base colors of Ash and Mustard that create a sporty impression, bringing touches of color to the daily lives of customers to create a stronger sense of attachment.

Z (2.0-liter HEV 2WD) (Model with options shown)Z (2.0-liter HEV 2WD) (Model with options shown)

Captivating driving performance

  • The new Prius is equipped with the latest fifth-generation hybrid system in both the 2.0-liter and 1.8-liter models.
  • Compared to the previous model*1, the 2.0-liter Prius (Z and G grades) achieves improved fuel efficiency of 28.6 km/L*2 and maximum system output of 144 kW (196 PS), which is 1.6 times higher than the previous model*1. This model achieves a high level of balance between the outstanding environmental performance of a Prius and the captivating driving performance of a car that reacts as expected with satisfying acceleration and responsive driving.

2.0-liter Hybrid System2.0-liter Hybrid System

  • With a long list of improvements, including updates to all electric modules, the 1.8-liter Prius (U and X grades) achieves great fuel efficiency of 32.6 km/L*3. The refined driving performance and seamless acceleration of a hybrid provide feelings of agility when starting off and the responsiveness of direct driving power.

1.8-liter Hybrid System1.8-liter Hybrid System

  • The second-generation TNGA platform was developed as part of continuing improvement of the matured TNGA platform to achieve the exhilarating styling and driving performance of the new Prius, allowing for a lower center of gravity and large-diameter tires.
  • This version comes with the latest E-Four system. Employing a high-output motor and other features, it offers improved uphill performance on low-friction road surfaces, like snow-covered roads, and greater stability when turning.

Advanced Safety and Driving Support Systems

  • Toyota Safety Sense, the latest active safety package, is a standard inclusion. Including the Advanced Safety System with an expanded range of detectable objects, the new Prius also comes with the following added features.
    • Rear vehicle proximity notification [first for a Toyota brand vehicle*4]Using the Blind Spot Monitor’s rear millimeter-wave radar, this feature detects vehicles in the rear and, if another vehicle is approaching, it alerts the driver via the Multi-Information Display and buzzer.
    • Approaching vehicle proximity support (recording function and vehicle reporting suggestions) [first for a Toyota brand vehicle*4]If a vehicle approaching from the rear is too close, this system offers the driver suggestions for dealing with the issue, including contacting the police or the HELPNET emergency call service. In vehicles equipped with a drive recorder, in addition to automatically recording the event, the system stores the data in a dedicated area that makes it difficult to record over.
    • Secondary Collision Brake (rear impact mitigation when stopped) [first for a Toyota brand vehicle*4]Using the Blind Spot Monitor’s rear millimeter-wave radar, this system detects vehicles in the rear and, if it determines a very high possibility of a collision while the vehicle is stopped, it applies the brakes to reduce speed if a rear collision occurs. Compared to the previous model, this system enables an earlier reduction in speed by applying the brakes prior to a collision.

Manufacturer’s Suggested Retail Prices

Price range: 2,750,000 yen to 3,920,000 yen

 PowertrainTransmissionDrivelinePrice* (JPY)
XSeries Parallel Hybrid System (2ZR-FXE 1.8-liter in-line four-cylinder engine)Electric continuously variable transmission2WD (FF)2,750,000
E-Four2,970,000
GSeries Parallel Hybrid System (M20A-FXS 2.0-liter in-line four-cylinder engine)2WD (FF)3,200,000
E-Four3,420,000
Z2WD (FF)◎3,700,000
E-Four3,920,000

◎: Models as shown in the photos (excluding options)

*Does not include recycling fees. (Different pricing applies for Hokkaido and Okinawa. Includes consumption tax.)

KINTO Unlimited: New car subscription service launched

  • The new “KINTO Unlimited” car subscription offered by Toyota and KINTO opened for subscribers on January 10. To start, the new Prius U grade will be available on this service, which will be the only service offering it.
  • KINTO is a subscription service*5 which includes insurance, tax and other costs combined into a monthly subscription charge. Using new Toyota technologies, KINTO Unlimited will be provided with two additional values in the form of upgrades that ensure evolution of the vehicle’s software and hardware and connected services that ensure protection of cars and people using the customer’s driving data. These additional values will help maintain the value of the car, which is considered in advance to reduce the monthly subscription charge to start at 16,610 yen per month (including tax)*6.
  • The Prius Z and G grades will be available on the usual KINTO subscription service.
  • More information on KINTO Unlimited and KINTO’s other services is available here (https://kinto-jp.com/lp/prius/).

Manufacturer’s Recommended Prices

Price range: 2,990,000 yen to 3,210,000 yen

Reference vehicle prices for the Prius U grade, which will be offered only through the KINTO Unlimited service, are detailed below.

 PowertrainTransmissionDrivelinePrice* (JPY)
USeries Parallel Hybrid System (2ZR-FXE 1.8-liter in-line four-cylinder engine)Electric continuously variable transmission2WD (FF)2,990,000
E-Four3,210,000
*Does not include recycling fees. (Different pricing applies for Hokkaido and Okinawa. Includes consumption tax.)

Base sales volume for Japan

4,300 units per month

Production Plant

Tsutsumi Plant, Toyota Motor Corporation

*1Comparison with previous model Prius A Touring Selection (1.8-liter HEV 2WD with 17-inch tires), which achieved WLTC mode fuel efficiency of 27.2 km/L.
*228.6 km/L is the WLTC mode fuel efficiency for the Z grade (2.0-liter HEV 2WD with 19-inch tires), as evaluated by the Ministry of Land, Infrastructure, Transport and Tourism.
*332.6 km/L is the WLTC mode fuel efficiency for the U grade (1.8-liter HEV 2WD with 17-inch tires), as evaluated by the Ministry of Land, Infrastructure, Transport and Tourism.
*4As of January 2023. According to Toyota research.
*5A service that packages automobile insurance, automobile taxes, periodic maintenance, repair expenses, registration expenses and taxes, mandatory inspection fees (in cases of the five- and seven-year plans), and other costs for a fixed monthly fee.
*6When selecting the cheapest U grade package (2WD with standard interior specifications), with no additional options, when using the seven-year lease plan with no initial payment and added bonus payments of 165,000 yen (including tax). The total price paid over the seven-year subscription period is 3,705,240 yen (including tax).
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