Dubai's tourism sector has recorded a 3% year-on-year increase in overnight visitors during the first quarter of 2025, according to Issam Kazim, CEO of the Dubai Corporation for Tourism and Commerce Marketing . This growth follows a record-bre…
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Abu Dhabi Islamic Bank has posted strong financial results for the first quarter of 2025, with net profits soaring by 18% compared to the same period last year. The bank’s net profit after tax for the first three months of the year reached AED 1.…
Emaar Properties has committed over $1 billion to bolster Dubai's standing on the global stage, further embedding its role as a key player in the international real estate and infrastructure sectors. This significant investment underscores the…
Islamic banks across the Gulf Cooperation Council are intensifying merger and acquisition activities, aiming to bolster competitiveness, enhance profitability, and expand market share in an increasingly saturated financial landscape. Analyst…
The United Arab Emirates recorded a total foreign trade volume of AED5.23 trillion in 2024, marking a 49 percent increase from AED3.5 trillion in 2021, according to the World Trade Organisation’s “World Trade Outlook and Statistics” report. This…
Hotel Local, a 579-room lifestyle property, has opened its doors in Dubai’s Jumeirah Village Triangle , marking a strategic collaboration between UAE-based The First Group and US developer Hoque Global. Positioned as a community-centric hotel, the…
Majid Al Futtaim, a key player in the Middle East's retail and leisure sectors, has unveiled a strategic expansion of its luxury retail portfolio, marking a significant step forward for the company as it prepares for a dynamic 2025. The move i…
Arabian Construction Company has been awarded the main works contract for the Baccarat Hotel and Residences project in Downtown Dubai. This development, owned by Shamal Holding, marks the debut of the esteemed Baccarat brand in the United Arab Em…
Nakheel, a subsidiary of Dubai Holding Real Estate, has unveiled the third phase of Bay Grove Residences on Dubai Islands. This expansion introduces additional luxury waterfront living options, following the successful launch of previous phases.
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The Dubai Land Department has initiated the pilot phase of its 'Real Estate Tokenisation Project,' marking a significant advancement in integrating blockchain technology within the property sector. This initiative positions DLD as the fir…
Marriott International has launched the Four Points by Sheraton Dakar Diamniadio, marking the brand's inaugural presence in Senegal. Situated within the Diamniadio Sports City complex, the hotel is approximately 20 minutes from Blaise Diagne I…
Dubai-based First Group Hospitality has announced the appointment of Onur Avkan as the new General Manager of The First Collection at Jumeirah Village Circle. In this role, Avkan will oversee the 491-room property, focusing on day-to-day opera…
President Donald Trump's administration has unveiled a comprehensive tariff strategy, imposing a baseline 10% tariff on all imports into the United States, with significantly higher rates targeting specific countries. China faces a 34% tariff,…
India is urging the Financial Action Task Force to ease compliance requirements for cross-border transactions conducted through its Unified Payments Interface . This initiative aims to facilitate the use of UPI by Indian travelers abroad and enha…
Abu Dhabi Aviation and Archer Aviation have entered into a strategic partnership to introduce the Midnight electric vertical take-off and landing aircraft to global markets within this year. This collaboration positions ADA as the inaugural cust…
EHC Investment, through its energy subsidiary Emirates International Gas , has fully acquired Al Fanar Gas Group, Abu Dhabi's largest gas distributor and maintenance provider. This move solidifies EHC's position in the United Arab Emirates…
The United Arab Emirates Ministry of Investment has entered into a Memorandum of Understanding with Emirates NBD Capital, the investment banking arm of Emirates NBD, to establish a cooperative framework aimed at facilitating international invest…
Seviora Group, a Singapore-based asset management firm with assets under management totaling $54 billion, has expanded its global presence by inaugurating its first Middle East office within the Abu Dhabi Global Market . This strategic move under…
Moody's Investors Service has reaffirmed the United Arab Emirates' Aa2 long-term local and foreign currency issuer ratings, maintaining a stable outlook. This decision underscores the nation's successful economic diversification and p…
ENOC Group and Dubai's Roads and Transport Authority have embarked on a pioneering collaboration to assess the viability of green hydrogen-powered public transportation in the emirate. This initiative aligns with Dubai's Green Mobility St…
Dubai-based investment bank Shuaa Capital has successfully issued mandatory convertible bonds totaling AED 359 million as part of its comprehensive debt restructuring strategy. This issuance, executed on March 18, 2025, comprises two tranches: A…
Dubai's hospitality industry is set for significant growth, with plans to add more than 11,300 hotel rooms by 2027. This expansion includes approximately 4,620 rooms scheduled to open this year, as reported by real estate advisory firm Cavendi…
Sharjah's real estate landscape is undergoing a significant transformation with the development of Ajmal Makan City – Sharjah Waterfront, a coastal project in Al Hamriyah valued at AED25 billion . Spanning over 60 million square feet, this amb…
Dubai Investments PJSC has announced a net profit before tax attributable to shareholders of AED 1.3 billion for the fiscal year ending December 31, 2024, marking a 21% increase compared to AED 1.07 billion in the previous year. This significant u…
Marriott International achieved a historic milestone in 2024, securing 291 hotel deal signings across Europe, the Middle East, and Africa , encompassing over 34,000 rooms. This remarkable achievement underscores the company's strategic focus o…
The United Arab Emirates' banking sector has experienced a notable increase in employment, with the total number of bank employees surpassing 39,000 by the end of 2024—the highest figure recorded since 2015. This growth reflects the sector'…
Abu Dhabi's real estate sector experienced remarkable growth in 2024, with residential rents increasing by 20% and sales prices rising by 11%, according to a report by Cushman & Wakefield Core. This surge is attributed to heightened demand…
RAK Properties, the prominent real estate developer based in Ras Al Khaimah, has reported a substantial 40% increase in revenue for the fiscal year 2024, reaching AED1.4 billion, up from AED1 billion in 2023. This remarkable growth underscores the…
Metal Park has inaugurated the first phase of its AED 110 million Storage Hub in the Khalifa Economic Zones Abu Dhabi Free Zone, introducing a pioneering pay-as-you-go storage solution tailored exclusively for the metal industry. This facility i…
Dubai's real estate sector has experienced unprecedented growth, with property sales transactions reaching AED 33.9 billion in January 2025, marking an 18% increase compared to the same period in 2024. The Dubai Land Department also reported …