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Dubai’s tourism sector has shown impressive growth, with 9.88 million international visitors recorded in the first half of 2025, a significant achievement that underscores the city’s growing prominence on the global tourism map. Crown Prince Sheikh Hamdan bin Mohammed highlighted this milestone, attributing the success to the leadership and vision of Vice President and Ruler of Dubai, Sheikh Mohammed bin Rashid.

This surge in visitor numbers aligns with the ambitions outlined in the Dubai Economic Agenda D33, a strategic plan aiming to position the emirate among the world’s top three tourism destinations. Under this agenda, Dubai seeks to expand its appeal, diversify its tourism offerings, and enhance its global standing, with a clear goal of fostering sustained growth in the sector. The half-year figures reflect strong international interest and robust demand for Dubai’s varied tourism attractions, spanning luxury shopping, iconic architecture, and cultural experiences.

The Dubai government’s commitment to the tourism sector has been evident in a series of high-profile initiatives and investments designed to enhance the city’s appeal. From the development of world-class infrastructure to hosting global events such as Expo 2020 and numerous international conferences, Dubai has positioned itself as a key player in the competitive global tourism market. The city’s tourism recovery, which began after the pandemic, has been swift, drawing millions from across the globe, particularly from Asia, Europe, and the Middle East.

A significant driver of Dubai’s tourism growth is its extensive air connectivity, facilitated by Dubai International Airport, one of the busiest airports in the world. DXB has consistently served as a global hub for international travel, with Emirates airline offering seamless connections to key markets. The airport’s strategic location and connectivity have been instrumental in attracting a steady flow of travellers, particularly from Europe and Asia, who increasingly view Dubai as a prime destination for both business and leisure.

Dubai’s luxury sector, including five-star hotels and upscale shopping malls, has continued to thrive, attracting affluent tourists seeking high-end experiences. The city’s offerings have evolved, with a growing emphasis on experiential travel, which includes culinary tourism, wellness retreats, and adventure tourism. The government’s continued investment in cultural infrastructure, including the Louvre Abu Dhabi and Museum of the Future, enhances Dubai’s appeal to cultural tourists, complementing its already robust retail and entertainment scenes.

Dubai’s rise in the global tourism ranks is not merely the result of external factors, but the active cultivation of a highly attractive destination. The city is known for its safety, cleanliness, and well-organised tourism offerings, with services ranging from luxury experiences to budget-friendly options catering to diverse traveller needs. As tourism numbers continue to rise, Dubai is expected to further strengthen its position as a hub for international events, exhibitions, and conferences.

In line with its long-term goals, Dubai has introduced several initiatives aimed at increasing tourism numbers, such as the Dubai Tourism Strategy 2025, which includes a broader approach to tourism marketing. The strategy focuses on creating innovative marketing campaigns, expanding the city’s digital presence, and engaging with emerging travel trends such as eco-tourism and sustainable travel.

The city’s strategic location, combining Eastern and Western influences, has further cemented Dubai’s appeal as a cultural melting pot, drawing people from all corners of the world. Notable growth has been observed from markets in Asia, particularly China and India, with Dubai becoming an increasingly important destination for affluent travellers looking for luxury, leisure, and business opportunities in a safe and accessible environment.

Dubai’s status as a global financial and business centre has also contributed to the rise in international visits, particularly among business executives and entrepreneurs attending conferences and exhibitions. The emirate’s commitment to enhancing its business tourism infrastructure, including the expansion of its conference venues and the hosting of high-profile business events, is expected to contribute further to the sector’s growth.

Union Properties reported a sharp decline in second-quarter net profit, registering AED 8.74 million, a 52% fall from AED 18.3 million for the same quarter last year. The Dubai-listed developer attributed the downturn to heavier upfront investments channelled into development activities and upgrades to infrastructure across its portfolio.

For the first half of 2025, profit stood at AED 14.56 million, significantly lower than the AED 34.77 million reported during the same period in 2024. Despite this decline in bottom-line earnings, the company recorded a notable improvement in revenue. Total income for the six-month period rose to AED 316 million, a 19% year-on-year increase compared to AED 266 million during the first half of 2024.

The company’s performance reflects a strategic pivot toward long-term asset enhancement, which has led to a temporary squeeze on margins. According to statements from company officials, this phase of intensified capital expenditure is aligned with efforts to revitalise core assets and push forward master-planned projects aimed at bolstering future recurring revenue.

Union Properties has been seeking to reposition itself in the competitive Dubai real estate landscape, where both private and publicly traded developers are ramping up efforts to respond to shifting demand patterns in residential, commercial, and mixed-use spaces. The firm’s latest investment push includes modernisation of infrastructure, land parcel optimisation, and enhancements across its flagship MotorCity community, as well as new project launches in high-growth corridors of Dubai.

Market analysts indicate that the firm’s choice to front-load development expenses may place temporary pressure on quarterly earnings but positions the company for stronger medium-term growth, particularly as Dubai’s property sector remains buoyant. Real estate transaction volumes in the emirate have continued to show strength, driven by both domestic end-user demand and international investor interest.

Union Properties has also been undertaking restructuring initiatives since 2022 in a bid to reverse a prolonged downturn marked by legal disputes, operational setbacks, and financial mismanagement. The group’s current leadership has focused on stabilising the balance sheet, improving transparency, and advancing stalled developments. The company’s equity structure has undergone changes, with efforts to attract new institutional investors and offload non-core assets.

During the latest reporting period, the developer recorded a surge in project execution costs, which contributed to the narrowing of margins. Construction and infrastructure spending increased significantly, while administrative expenses remained relatively stable. The higher costs are partly reflective of an accelerated build-out of key developments and a recalibration of timelines to align with updated delivery schedules.

The developer’s revenue boost was attributed largely to stronger unit sales and improved rental income from existing properties. However, the impact of increased capital expenditure overshadowed these gains, resulting in lower profitability. The company’s cash flow remains positive, supported by pre-sales and project advances, although liquidity management remains a focus area amid the ongoing investment cycle.

Union Properties’ board has reiterated its confidence in the current trajectory, describing the strategic investments as necessary for sustainable growth. Internal forecasts suggest that revenue streams will continue to expand into the second half of the year as multiple projects reach key development milestones. Delivery schedules have been tightened and operational efficiencies have been integrated to mitigate further cost overruns.

The wider Dubai property market has shown continued resilience, with price growth moderating but staying positive. Analysts suggest that Union Properties’ recent performance must be viewed in the context of its turnaround efforts and sector-wide transformation. Large-scale developers have increasingly shifted focus towards quality, lifestyle-oriented developments, a segment Union Properties is now actively targeting through its redevelopment strategy.

The Dubai International Financial Centre has posted its best-ever half-year results in 2025, demonstrating strong growth across key sectors, including financial services, innovation, and fintech. The centre reported a remarkable 32 per cent increase in new active registered companies, bringing the total number of active businesses to 7,700 by mid-2025. This surge represents a 25 per cent year-on-year growth. The number of professionals working within DIFC has also experienced a significant rise, up by 9 per cent, reaching 47,901 employees.

DIFC’s expansion highlights the continued success of Dubai’s strategy to position itself as a leading global financial hub, particularly in the fields of fintech and innovation. The increase in registered companies signifies not only the centre’s growing appeal but also its vital role in the UAE’s broader economic vision.

The growing presence of fintech firms, along with traditional financial services companies, underscores DIFC’s evolving landscape. According to the Centre’s CEO, the influx of new businesses reflects Dubai’s robust infrastructure, strategic location, and regulatory environment. “The remarkable performance of DIFC is a testament to Dubai’s attractiveness as a global business hub,” said the CEO. “Our strong sectoral focus on financial services, fintech, and innovation is fostering an environment of growth, which will continue to fuel the region’s economic success.”

DIFC’s strategic emphasis on innovation and fintech has garnered attention from both regional and global investors. The centre’s business-friendly regulatory framework, alongside its collaboration with government-backed initiatives, has allowed fintech startups to thrive. As digital financial services evolve, Dubai’s proactive measures have made DIFC a hub for innovation, with new fintech companies flocking to the area to take advantage of the resources and opportunities available.

DIFC’s integration with the wider Dubai economy has fostered a synergy between financial services and other sectors, such as real estate and technology. This cross-sector collaboration has proven essential for the centre’s resilience during periods of global uncertainty.

The surge in the number of companies and professionals at DIFC comes as Dubai continues to enhance its reputation as a major global economic and business destination. This growth trajectory aligns with Dubai’s long-term strategic objective to diversify its economy, focusing on financial technology, digital innovation, and professional services, which have collectively contributed to DIFC’s increasing role in the regional and global markets.

While DIFC’s record-breaking performance in the first half of 2025 is commendable, industry analysts suggest that the second half of the year could see even more significant growth. The centre’s management has indicated plans to further streamline processes for international companies seeking to establish a presence in Dubai, as well as to continue fostering innovation. With the fintech sector expected to expand globally, DIFC’s evolving ecosystem makes it a key player in the broader financial services landscape.

In addition to fintech, DIFC has shown promising growth in more traditional financial services, including asset management, banking, and insurance. The influx of multinational financial institutions has been notable, with firms attracted by the centre’s sophisticated infrastructure and competitive regulatory environment. DIFC’s broad appeal to companies across various financial sectors has allowed it to remain one of the most diverse financial hubs in the region.

Dubai Land Department has formalised a groundbreaking partnership with Masdar City, paving the way for companies operating within Abu Dhabi’s prominent free zones to acquire land plots and properties under the freehold ownership system in Dubai. This strategic memorandum of understanding aims to provide these companies with a more expansive and regulated pathway to invest in the Dubai real estate market, in line with the emirate’s broader vision to bolster its economic landscape.

The MoU was signed by Majid Al Marri, CEO of the Real Estate Registration Sector at DLD, and Ahmed Baghoum, CEO of Masdar City, during an official event in Dubai. The agreement marks a significant step in enhancing Dubai’s real estate market, which is actively adapting to new investor demands and aims to remain a competitive player on the global stage.

This collaboration is part of a wider effort to increase the attractiveness of the Dubai property market, with a focus on aligning with the Dubai Real Estate Strategy 2033. As part of this strategy, the city aims to enhance its status as a global hub for investment, business, and residential opportunities. By granting companies in Masdar City the ability to own land and property in Dubai, the DLD is encouraging greater foreign investment and further integration of the free zone’s economic sectors with the emirate’s broader financial ecosystem.

The development comes as part of Dubai’s commitment to expanding its investment opportunities across various sectors. This MoU reflects the UAE’s ambition to tap into innovative and sustainable business models, especially in green and technology-driven industries. Masdar City, which has long been recognised as a leader in sustainable urban development, is expected to play a pivotal role in further shaping the region’s real estate future. The partnership also signals a convergence of real estate and green innovation, capitalising on both sectors’ growth trajectories.

Masdar City, known for its focus on sustainability, is home to a growing number of businesses and startups involved in renewable energy, environmental solutions, and green technologies. By facilitating real estate ownership for these companies in Dubai, the DLD is fostering an environment that encourages companies operating in these industries to expand and deepen their investments in the UAE’s economic framework.

For Masdar City, the agreement opens up new opportunities for its tenants, creating a more expansive environment in which businesses can thrive, with the potential for significant capital appreciation as Dubai’s real estate market remains one of the most stable and profitable in the region. This move is also expected to elevate the city’s global competitiveness by promoting a broader base of businesses, both within Masdar and the UAE at large.

The impact of the collaboration extends beyond just Masdar City, as it could set a precedent for similar partnerships with other free zones across the UAE. By allowing companies established in these zones to acquire freehold properties in Dubai, the deal may become a template for expanding the emirate’s real estate portfolio to a wider range of international businesses. This would further diversify Dubai’s economy, making it more resilient to external market fluctuations and better positioned for future growth.

The MoU is also aligned with the Dubai Land Department’s efforts to provide a comprehensive regulatory framework that ensures transparency and ease of investment. By streamlining the process for companies seeking to buy real estate in Dubai, the agreement simplifies procedures that may have previously been perceived as barriers to entry, thereby improving the investment climate in the city.

As global markets continue to shift and adapt to new economic realities, Dubai remains at the forefront of innovation in property ownership models. With its unique approach to offering a blend of residential, commercial, and industrial opportunities, the city continues to cater to a wide range of investors, both local and international.

The collaboration between Dubai Land Department and Masdar City reinforces the UAE’s strategy of creating an attractive and dynamic environment for business, while also ensuring sustainable growth. With the expanding role of free zones in driving the nation’s economy, this move is expected to provide tangible benefits for both Masdar City tenants and the wider Dubai real estate market, positioning the emirate as a leader in global real estate investment.

Dubai’s real estate market achieved a landmark surge during the first half of 2025, with transactions climbing 26 per cent to 125,538 and total value reaching AED 431 billion—an increase of 25 per cent year‑on‑year. The performance underscores the emirate’s growing appeal to both local and international investors.

Investor activity gathered notable momentum, with approximately 94,700 individuals completing transactions worth AED 326 billion—39 per cent more than a year earlier. Of this group, 59,075 were first‑time investors, injecting AED 157 billion and marking both a growth in investor numbers and value. UAE residents constituted 45 per cent of this cohort, signalling effective measures to convert renters into homeowners.

Women also bolstered the market’s resilience, executing nearly 35,000 transactions worth AED 73.2 billion. Meanwhile, foreign investors led contributions at AED 228 billion, with Arab and GCC nationals contributing AED 28.4 billion and AED 22.6 billion respectively.

Residential and luxury segments showed marked performance. Al Barsha South Fourth recorded the highest transaction volume, followed by Al Yalayis 1 and Wadi Al Safa 5. In terms of value, Dubai Marina topped the list with AED 25.1 billion, followed by Business Bay, Burj Khalifa zone, and Palm Jumeirah.

ValuStrat’s H1 property index reported that unbuilt villas now command values 66 per cent above their 2014 peaks and 175 per cent above post‑pandemic levels. Apartment prices rose 1.1 per cent month‑on‑month, translating to annual growth of 20 per cent, notably in The Greens, Dubai Silicon Oasis, Dubailand Residence Complex, Palm Jumeirah, and Town Square—all exhibiting capital gains of over 22 per cent.

Parallel to sales growth, rental price inflation decelerated mid‑year: by May, annual residential rent increase eased to 8.5 per cent from 14.3 per cent in January. Cavendish Maxwell attributed this moderation to the delivery of approximately 9,300 new units in Q1 and the introduction of the “New Smart Rental Index,” which is influencing both landlord expectations and market dynamics.

Mortgage activity reflected evolving buyer preferences. Data from DXB Interact indicates a 38 per cent rise in loan volume, although total mortgage value dipped by 8 per cent—signalling a shift towards cash purchases or smaller financing commitments. Off‑plan sales stood strong at 64,907 transactions, with a total value of AED 209.1 billion. Resale transactions numbered 34,150, valued at AED 119.7 billion.

Amid this buoyancy, caution flags exist. Fitch Ratings warns of potential double‑digit price corrections—up to 15 per cent—in late 2025 and 2026, due to an expected supply surge of around 210,000 units. The agency nevertheless noted that banks and developers have reduced exposure and are poised to manage potential adjustments.

Planning authorities have responded proactively. Dubai intends to add 73,000 homes in 2025, targeting a total of 300,000 new units by 2028—efforts aimed at aligning supply with investor momentum and population growth. Meanwhile, ongoing state‑led consolidation of developers, regulatory improvements under the Economic Agenda D33, and the Dubai Real Estate Strategy 2033 continue to underpin structural confidence.

As forecasted by ValuStrat, property price growth may moderate but remain positive—potentially adding another 10 per cent by the end of 2025 as market dynamics evolve. The challenge now lies in balancing supply expansion, evolving mortgage behaviour, and price stability to sustain long‑term viability for investors and residents alike.

Dubai has introduced the world’s first icon-based system to clearly signal whether content is crafted by humans, artificial intelligence, or a blend of both. Launched by Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, the Human–Machine Collaboration classification marks a shift in content disclosure standards. The initiative requires government entities to adopt the system immediately, marking a drive towards accountability and public trust in an era of rapid AI integration.

The HMC framework comprises five primary icons: All Human, Human-Led, Machine-Assisted, Machine-Led, and All Machine, each reflecting increasing levels of machine involvement. Developers can further specify nine functional icons to indicate AI contribution across tasks such as ideation, data analysis, writing, translation, visuals, and design.

The system, developed by the Dubai Future Foundation and endorsed by Sheikh Hamdan in his capacity as Chairman of its Board of Trustees, is compulsory for all Dubai government research and knowledge publications. Media content, academic papers, technical reports, videos, academic journals and other multimedia outputs must now prominently display the appropriate icons. For non-government creators, the icons are voluntary but available for ethical transparency.

Sheikh Hamdan said transparency is essential for distinguishing human creativity from machine efficacy. He urged global content creators—researchers, publishers, writers, and designers—to adopt the new classification as a norm. On LinkedIn, he stated: “Today, we launch the world’s first Human–Machine Collaboration Icons…a new global benchmark in the age of AI,” inviting worldwide adoption.

The initiative meets growing demands for clarity around AI-generated content in scientific, academic, and creative fields. As AI technologies such as generative models and automation tools proliferate, distinguishing authorship becomes increasingly complex. The HMC system addresses this by offering concise visual indicators of machine involvement throughout a document’s lifecycle.

Beyond classification, the icons offer practical guidelines. Each icon can appear on the cover, footer, or bibliography of a document, with no numerical thresholds assigned. The nine functional icons enable precise reporting by highlighting stages influenced by AI, such as data collection or translation. The system avoids quantification due to challenges in objectively assessing AI contribution levels.

Dubai’s icon strategy is modelled on enhancing trust in public knowledge creation. Government entities in Dubai must adopt the icons; private sector use is labelled “opt-in and voluntary,” encouraging transparency across broader sectors. The icons aim to build credibility in educational materials, annual reports, research briefs, social media content, public-facing campaigns, and design outputs.

Industry experts have broadly welcomed the initiative. Fast Company Middle East noted the dual-layer approach offers transparency without excessive complexity, while Economy Middle East reported Sheikh Hamdan’s emphasis on the blurred lines between human art and machine output. Gulf News cited the icons as a tool for “honest self-assessment,” reinforcing accountability among content creators.

Academics and publishers are now exploring integration possibilities. The system could become a template for journal submission protocols or university publishing frameworks. Concerns persist about compliance monitoring and the potential for misuse—some question whether creators may understate AI contribution or apply icons inconsistently across formats.

Dubai Future Foundation has emphasised that icons are free to use and do not require licensing; they are copyrighted but freely deployable, with no prior permission needed. The foundation’s intention is to encourage natural adoption in scholarly work, media, and social channels, promoting a culture of transparency rather than regulatory enforcement.

Global observers note that while Dubai is first, other cities and institutions are likely to follow. The HMC icons address growing demand from research communities for AI disclosure standards, amid debates over authorship attribution, peer review confidence, and reproducibility.

Dubai’s initiative closes a gap in ethical AI practice by establishing a clear visual code for machine involvement. As AI-generated content becomes ubiquitous, its success will depend on global uptake, consistent application, and alignment with existing ethics and publishing standards. In the meantime, Dubai’s icons offer a blueprint for transparency, setting a new bar for content creation in the AI era.

Ripple has formalised a partnership with UAE-based tokenisation platform Ctrl Alt to deliver institutional-grade digital asset custody services as part of a landmark initiative by the Dubai Land Department to digitise property ownership using blockchain infrastructure.

The agreement will enable Ctrl Alt to leverage Ripple’s custody solution to store and manage tokenised property title deeds on the XRP Ledger, as Dubai intensifies its push to integrate advanced digital frameworks into its real estate sector. The project marks a significant stride in DLD’s broader strategy to streamline property transactions and increase market transparency by replacing conventional title documentation with blockchain-native digital representations.

Ripple’s institutional custody platform, designed for banks and financial institutions, will play a central role in securing and scaling the digital assets underlying Dubai’s real estate tokenisation programme. Ripple’s solution will ensure regulatory compliance, operational efficiency, and asset security as property titles are issued and exchanged through blockchain mechanisms.

The announcement positions Ripple as a key player in the UAE’s drive toward regulated digital asset ecosystems. The partnership also represents Ripple’s first custody deployment in the UAE, expanding its global digital asset custody network into the Middle East and further solidifying its presence across EMEA, Asia Pacific, and Latin America.

Ctrl Alt, which had disclosed its participation in the DLD project earlier, is building tokenisation infrastructure tailored for real-world assets such as real estate. The firm will integrate Ripple’s technology to facilitate the issuance, transfer, and management of tokenised property deeds while ensuring institutional-grade security standards.

The Real Estate Tokenisation Project aims to transform Dubai’s property registry system by offering a fully digital framework that eliminates physical documentation and manual recordkeeping. Through the initiative, the DLD intends to increase efficiency in property ownership transfers, reduce fraud risks, and create a foundation for smart contract-enabled real estate solutions. By leveraging the XRP Ledger’s speed and cost efficiency, the project also seeks to attract global investors and developers to participate in tokenised real estate offerings governed by transparent, immutable ledger protocols.

Ripple’s expansion into the UAE’s digital asset space follows its broader global strategy to deliver enterprise-grade blockchain tools tailored to financial infrastructure, a focus that has intensified as global regulators and institutions begin adopting tokenisation at scale. Ripple’s digital custody division — established through its acquisition of Metaco in 2023 — has emerged as a core offering, providing secure storage infrastructure for tokenised assets in both public and permissioned blockchain environments.

Metaco’s digital asset custody platform, which now underpins Ripple’s institutional offering, was originally designed to meet the requirements of global banks and has been adopted by several financial institutions in Europe and Asia. Its integration with Ripple’s payment and liquidity tools enables a seamless experience for enterprises managing digital asset portfolios alongside tokenisation and cross-border payment rails.

Ripple’s custodial framework offers support for a wide range of tokenised assets, including stablecoins, real-world assets, and CBDCs. It provides multi-tier security, granular permission controls, and compliance features needed for institutional applications. The company’s leadership has highlighted tokenisation as a core theme in the evolution of financial infrastructure, predicting that trillions of dollars worth of real-world assets will migrate to blockchain ecosystems in the coming decade.

Ctrl Alt’s involvement in the DLD-led project comes as Dubai cements its role as a global testbed for blockchain innovation, with a supportive regulatory regime, ambitious smart city initiatives, and a growing appetite for Web3 integration. The company has built its platform to allow regulators, issuers, and investors to interact within a compliant digital asset ecosystem. Its participation in the project is expected to open the door for additional applications of tokenisation beyond real estate, including commodities, equities, and infrastructure.

Dubai’s real estate market, historically characterised by high-value transactions and global investor interest, is seen as an ideal candidate for tokenisation. By converting ownership documents into digital tokens recorded on a blockchain, authorities aim to offer fractional ownership models, enhance liquidity, and enable secondary market trading. The shift could also reduce costs and settlement times, while allowing retail and institutional investors to access real estate markets with lower capital thresholds.

Ripple’s role in the project is expected to be pivotal in meeting security, governance, and compliance requirements for digital custody. The partnership strengthens Ripple’s position as a go-to infrastructure provider for tokenisation use cases and reflects its strategic intent to deepen engagement in jurisdictions with progressive digital asset frameworks.

Dubai Chamber of Digital Economy and Dubai Finance have entered into a strategic partnership to bolster the emirate’s ambitions of becoming a fully cashless economy. A Memorandum of Understanding signed between the two bodies outlines a coordinated framework that targets improved governance, fintech innovation, and wider digital payment adoption, in line with the objectives of the Dubai Cashless Strategy.

The agreement was formalised during a ceremony attended by H. E. Abdulrahman Saleh Al Saleh, Director General of Dubai Finance, and H. E. Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers. Representing the respective institutions, Saeed Al Gergawi, Vice President of Dubai Chamber of Digital Economy, and Ahmad Ali Meftah, Executive Director of the Central Accounts Sector at Dubai Finance, signed the document on behalf of their organisations.

This collaboration underscores Dubai’s growing emphasis on integrating digital solutions across public and private sector transactions, as the emirate positions itself as a global fintech and smart governance hub. The new agreement aims to accelerate digital payments across government services while enhancing efficiency, security, and accessibility.

Under the framework of the MoU, both entities will establish joint task forces, undertake regular progress evaluations, and implement technology-driven initiatives to modernise financial infrastructure. The emphasis will be on enabling end-to-end digital transactions for individuals and businesses interacting with government entities.

Officials involved in the signing highlighted the strategic relevance of the initiative, citing the pivotal role of digital transformation in achieving Dubai’s broader economic diversification goals. Saeed Al Gergawi remarked that this step would unlock new economic potential and reinforce Dubai’s reputation as a leader in digital innovation. He noted that the Chamber aims to promote the use of cashless technologies across all levels of society, particularly among small businesses and startups.

Ahmad Ali Meftah echoed similar sentiments, noting that the DOF views this partnership as an opportunity to develop governance models that leverage real-time payment data and analytics to improve decision-making and transparency. He added that it marks a milestone in the effort to optimise public sector financial management through advanced digital tools.

The Dubai Cashless Strategy, announced previously by the Dubai Government, focuses on transforming the way residents and businesses conduct financial transactions. Its three-pillar approach—governance, innovation, and the shift towards a cashless society—provides the structural foundation for this latest collaboration. The strategy also aligns with the UAE Digital Government Strategy 2025, which aims to foster a holistic digital ecosystem nationwide.

Dubai has already made significant strides towards cashless integration. Key government services, including health, transport, and municipal utilities, have seen widespread uptake of digital payments. A growing number of private sector entities—particularly in retail, hospitality, and real estate—have also moved to offer fully contactless payment options.

Data from payment solutions providers and financial regulators suggest that consumer behaviour in Dubai is increasingly shifting towards digital modes. Contactless transactions, QR-code payments, and mobile wallet usage are seeing double-digit growth, reflecting both convenience and trust in digital platforms. E-commerce platforms and delivery services in the city have reported a significant drop in cash-on-delivery usage, replaced by integrated payment gateways.

Despite the surge in adoption, challenges remain. Concerns over cybersecurity, digital exclusion among certain demographics, and interoperability between platforms continue to demand coordinated attention. Experts believe that public-private partnerships, like the one signed this week, are vital to addressing these gaps. The joint initiative between Dubai Finance and Dubai Chamber of Digital Economy aims to prioritise inclusive design and data security in all future systems.

Digital finance specialists have observed that the commitment from high-level institutions such as DOF and Dubai Chambers is an indication of long-term policy backing. The formalisation of this cooperation may lead to more unified regulatory frameworks, making it easier for startups and global fintech players to operate in Dubai’s ecosystem.

The agreement is also expected to boost investor confidence, particularly among digital-first businesses exploring Middle East expansion. Analysts note that initiatives aimed at institutionalising digital payments often serve as catalysts for broader technology adoption, including AI-driven financial services and decentralised finance platforms.

Dubai has climbed to seventh place worldwide among the most expensive cities for high-net-worth individuals, according to Julius Baer’s Global Wealth and Lifestyle Report 2025, up from 12th last year. This marks the largest ascent within Europe, the Middle East and Africa, even though local currency prices rose by just 1 per cent.

The report evaluates the cost of living for HNWIs using a “Lifestyle Index” that covers 20 goods and services ranging from property and cars to legal services and education. In Dubai, steep increases in big-ticket sectors—13 per cent for car prices and 17 per cent for residential property—have driven the city’s rise in rankings, reinforcing its appeal to affluent migrants.

Regionally, EMEA now accounts for over half of the top ten most expensive cities for HNWIs. London, Monaco and Zurich also climbed the rankings, securing second, fourth and fifth positions globally. Dubai’s dramatic move to seventh place complements these traditional wealth centres, overtaking cities such as Shanghai and New York.

Globally, Singapore remains the costliest city for wealthy lifestyles, with London and Hong Kong following in second and third place. While overall prices in US dollar terms fell by 2 per cent—driven by a 3.4 per cent decline in the cost of goods—Dubai defied this trend with its sharp price hikes in luxury property and automotive sectors.

Dubai’s real estate sector experienced exceptional growth in 2024, with property sales value surging by 27 per cent year-on-year. Concurrently, the number of millionaires in the emirate more than doubled over the past decade, now exceeding 80,000, accompanied by a rise in centi-millionaires and billionaires.

Julius Baer attributes this shift to the emirate’s strategic appeal to mobile elites via residency schemes, minimal personal taxation and a vibrant lifestyle combining beachfront living, upscale services and robust business potential. Luxury dining, designer fashion, fine jewellery and experiential spending remain in high demand, even as global consumption for goods softens.

Beyond wealth rankings, the report highlights evolving HNWI priorities, with growing emphasis on both physical and financial longevity. Across regions, including Asia and North America, wealthy individuals are increasingly investing in wellness, advanced healthcare and long-term wealth preservation.

As Dubai solidifies its position among global wealth hubs, analysts expect its progressive trajectory to continue. Julius Baer suggests that it may soon challenge top-tier cities like Singapore or London if growth in luxury sectors and affluent residency persists.

Despite global economic headwinds—such as trade tensions, slowing consumption and geopolitical uncertainties—the emirate’s ability to attract HNWIs has remained strong, positioning it as a dominant destination for global mobility and wealth settlement.

Abu Dhabi investment giant IHC has finalised the acquisition of eFunder, the digital invoice-financing platform, marking a decisive move into fintech for small and medium enterprises. The platform has been renamed Zelo and is targeting a $250 billion shortfall in SME credit across the Middle East and North Africa. It converts outstanding invoices into cash within 24–48 hours, and has already processed more than 9,000 transactions, deploying over $200 million in funding.

The deal enhances IHC’s strategy to diversify its portfolio into high-growth financial technologies. Zelo will now operate under IHC’s fintech and future-economy division, reinforcing Abu Dhabi’s ambitions as a leading regional hub for digital finance. According to the Abu Dhabi Global Market’s Financial Services Regulatory Authority, Zelo holds a full operating licence, enabling rapid scale across construction, logistics, healthcare, industrial services, and oil and gas industries.

Zelo’s founders, Deepak Sekar and Dhanush Arjun, launched the platform in August 2020 with a mandate to improve access to working capital for SMEs. It gained full FSRA regulatory approval after obtaining in-principle licence in early 2021. The platform achieved more than $100 million in financing across 6,000 transactions during its initial phase, before surpassing $200 million through 9,000-plus deals.

IHC chief executive Syed Basar Shueb emphasised the strategic importance of the acquisition: “SMEs are the backbone of a diversified and future‑ready economy. Through our strategic acquisition of Zelo, we are proud to support a platform that solves one of the most fundamental barriers facing SMEs, access to timely working capital.” He added the rebrand signals “a confident new chapter… aligned with IHC’s long‑term vision of building smart, scalable solutions and dynamic value networks that deliver real and lasting economic impact”.

Dhanush Arjun, CEO of Zelo, reinforced this message, stating: “Zelo exists to eliminate the wait. The wait for payments, the wait for growth, the wait for opportunity. … With IHC’s strategic backing, we’re accelerating that future.” He stressed that converting approved invoices into liquidity within 24–48 hours allows SMEs to avoid the cash flow bottlenecks that often hamper growth.

A study by the World Bank indicates that SMEs in emerging markets often wait between 60 and 120 days to receive invoice payments, inhibiting their capacity to expand or invest in new ventures. IHC’s acquisition directly addresses this challenge by offering digital-first funding with underwriting powered by AI-driven risk scoring and performance analysis.

Regional analysts observe that IHC’s move comes amid intensifying competition in the MENA fintech landscape. State-backed investors and sovereign wealth funds have been increasingly backing financial‑technology startups to accelerate digital transformation. The acquisition strengthens IHC’s position alongside peers in Abu Dhabi and Dubai, including Mubadala’s fintech interests and ADQ-backed projects.

IHC’s publicly listed status on the Abu Dhabi Securities Exchange and its recent earnings report highlighted a strategic pivot towards non‑oil sectors—spanning fintech, AI platforms, decarbonisation, and reinsurance. Zelo’s integration underscores this shift, offering synergies with IHC’s digital economy ambitions.

Within its ADGM base, Zelo plans to roll out new revenue‑based finance products, addressing future receivables in addition to existing invoice financing. The platform aims to expand its geographic footprint beyond the UAE, eyeing expansion into other MENA markets with acute SME credit gaps.

Zelo’s backers include both institutional and private-sector investors. Prior to acquisition, it closed a US$16.5 million Series A round led by IHC in September 2024, secured a multi‑year credit commitment, and earned recognition as a “Future 100 Startup” by the Ministry of Economy and a Deloitte Rising Star.

Market commentators describe this phase as a potential inflection point for fintech in the region. “Invoice finance is one of the fastest routes to unlocking SME potential, and Zelo is well‑positioned,” said a senior analyst. “With IHC’s capital and ecosystem support, rapid scaling is likely.”

Zelo’s existing performance traces a compelling upward curve—it started by funding e-commerce merchants and delivery‑aggregator vendors, then expanded to broader commercial invoices. Its AI‑based underwriting and automated platform enable pre‑approval decisions within 10 minutes and deployment in under 48 hours.

Other regional platforms, such as Dubai’s Beehive and Finvolve, have adopted peer‑to‑peer and supply‑chain financing models. Zelo’s integration through a major listed conglomerate differentiates it through access to IHC’s expansive corporate network and potential for cross‑sector collaboration across its portfolio.

IHC’s LinkedIn statement confirmed completion of the acquisition and rebrand, affirming the company’s commitment to “fintech innovation and SME enablement across the UAE”. The platform’s regulatory credentials, track record and ambition illustrate why it emerged as the firm’s fintech flagship.

Analysts expect Zelo to deepen its product scope in the coming months, potentially introducing dynamic funding and revenue finance solutions. They anticipate that further geographical rollout across GCC and North African markets could begin in early 2026, leveraging ADGM’s regulatory passporting as the platform scales beyond domestic boundaries.