Saudi Central Bank’s balance sheet expanded to roughly SAR 2 trillion by the end of May 2025, marking an advance of around 5 percent from the prior year. This milestone reflects substantial accumulation in reserve assets, reinforcing the kingdom’…
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Aldar Properties has acquired warehousing and light industrial assets in Al Dhafra’s ALMARKAZ Industrial Park from Waha Capital for AED 530 million, adding 182,500 m² of net leasable area to its logistics platform.
The assets, comprising 17 bu…
UAE’s National Central Cooling Co and CVC’s infrastructure arm, CVC DIF, have agreed to acquire Abu Dhabi-based PAL Cooling Holding from Multiply Group in a deal worth AED 3.8 billion, the firms announced. The transaction, currently awaiting regu…
Dubai’s Roads and Transport Authority, working with US-based Joby Aviation, has achieved a milestone by completing the first piloted test flights of its electric air taxi in the emirate. The eVTOL aircraft—designed to carry a pilot and four passen…
Mercedes‑Benz Cars Middle East has appointed Michael Stroband as its new President and Chief Executive Officer, underlining the region’s growing strategic significance within the global luxury carmaker. Stroband assumes leadership from Martin Schu…
A groundbreaking development is changing the face of Sheikh Zayed Road as Omniyat unveils the 48‑storey Lumena tower, a visionary commercial workspace. Scheduled for handover in Q3 2029, the project — with a gross development value of AED 3.6 bill…
Al Ain Farms Group, the UAE’s foremost provider of protein and beverages, has entered into a joint development agreement with Finland‑based FoodIQ to bring its Multi‑Layer Cooker system to the Middle East and North Africa. AAFG will be the first …
A residential land plot on Palm Jumeirah has been sold for Dhs365 million, marking the island’s most expensive land-only transaction to date and underscoring renewed appetite for ultra-prime real estate in Dubai. The deal, brokered by Dubai Sotheb…
Riyadh Air has secured a landmark deal for 50 Airbus A350‑1000 aircraft—25 firm with options on 25 more—announced during the 55th Paris Air Show at Le Bourget Airport. The signing brought together top officials from the Public Investment Fund, Riy…
Sobha Realty has upended conventional UAE property development with its fully Backward-Integrated model, spanning design, manufacturing and on‑site assembly, driven by its modular arm, Sobha Modular Industries. The developer’s integrated strategy,…
Dubai South Properties has introduced South Square, a premium residential community positioned along Sheikh Mohamed bin Zayed Road, mere minutes from the upcoming terminal at Al Maktoum International Airport. The project offers more than 550 apart…
Abu Dhabi’s International Resources Holding , part of the International Holding Company , has agreed to acquire a controlling 56 per cent stake in Alphamin Resources, a key tin producer based in the Democratic Republic of Congo , for $367 million.…
Saudi Arabia is set to issue $12.6 billion in bonds by the end of 2025, as the kingdom intensifies efforts to finance its ambitious economic transformation under Vision 2030. This move comes amid a projected budget deficit of $26.9 billion for the…
Dubai Duty Free achieved a new milestone in May, recording sales of Dhs724.7 million , marking the highest monthly revenue for the year and representing a 12.5 per cent increase compared to the same month in 2024. This performance ranks as the sec…
Gulftainer, the Sharjah-based global port and logistics operator, has appointed Farid Belbouab as Group Chief Executive Officer, effective 1 June 2025. Belbouab succeeds Peter Richards, who steps down after a 38-year tenure, including nearly two d…
Park Rotana and Park Arjaan by Rotana, both situated in Abu Dhabi, have garnered significant recognition at the 2025 Haute Grandeur Global Hotel Awards. Park Rotana was named the Premier Corporate City Hotel in the Middle East, while Park Arjaan r…
KeyMavens Real Estate Development, in collaboration with Engel & Völkers Middle East, has reported that 90% of units at Montage, Dubai's inaugural urban residential resort, have been sold. This milestone underscores the project's stron…
Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister, and Minister of Finance of the UAE, has enacted Decision No. of 2025 in his role as Chairman of the Financial Audit Authority . This decision f…
Saudi Arabia has launched TOURISE, a global tourism platform designed to unite public and private sector leaders in tourism, investment, and sustainability. The initiative was officially introduced on May 22 by Minister of Tourism Ahmed Al Khateeb…
HRE Development has unveiled its latest residential project, Celeste, situated in the heart of Al Jaddaf, Dubai. This waterfront development is designed to offer residents a blend of privacy and understated elegance, aligning with HRE's vision…
Hilton and NABNI Developments have unveiled plans for the Waldorf Astoria Residences Dubai Downtown, marking the luxury hospitality brand’s inaugural standalone residential project outside the United States. Scheduled for completion in 2028, the d…
Pantheon Development has announced the launch of VOXA, a 29-storey mixed-use project in Dubai’s Jumeirah Village Triangle , marking its eleventh venture in the city’s real estate market. The development aims to blend contemporary design with welln…
Saudi Arabia’s state-backed real estate developer, ROSHN Group, has intensified its global outreach, showcasing its urban transformation initiatives at prominent international forums. However, the company's leadership dynamics have come under …
Syria's transitional government has annulled a 49-year lease agreement with Russian firm Stroytransgaz for the management of Tartus port, redirecting all revenues to the Syrian state. The decision follows the company's failure to fulfill c…
Emaar Properties PJSC has reported a robust financial performance for the first quarter of 2025, underscoring its dominant position in Dubai’s real estate sector. The company achieved a revenue of AED 10.1 billion , marking a 50% increase compared…
Emaar Properties has posted strong financial results for the first quarter of 2025, driven by a remarkable surge in property sales and increased international demand. The Dubai-based real estate giant recorded a net profit before tax of Dhs 5.4bn …