Arabian Post Staff Master-developer Nakheel announced it has secured AED 17 billion in strategic financing deal to drive its new phase of growth. This includes refinancing of AED 11 billion, and additional funds of AED 6 billion. The finance will be utilised to accelerate the development of its new projects including Dubai Islands and other large waterfront projects. The refinancing of AED 11 billion has been secured […]
Dubai is considered the commercial center and the business capital for the United Arab Emirates, if not the whole Gulf area. Dubai has an inviting business atmosphere due to the diversity of the community of its residents, who share a peaceful, respectful, and secure lifestyle. Dubai’s strategic location encourages investors from around the world, and the international exposure in the city creates a vast and innovative business […]
Reliance Industries Ltd, led by business mogul Mukesh Ambani, is the mystery buyer of the beach-side villa in Dubai worth $80 million, a report quoting sources has said. The deal is the biggest ever in the UAE emiratey, with the sources saying that the villa brought at Dubai’s Palm Jumeirah was purchased earlier this year for Anant Ambani, the youngest son of Mukesh Ambani. Anant is one of […]
Arabian Post Staff Dubai based master developer Nakheel has unveiled a new vision for Dubai Islands which will redefine the concept of waterfront living. Comprised of five islands with a total area of 17 square kilometres, Dubai Islands have been designed to enhance the wellbeing and lifestyles of residents and visitors. Aligning with Dubai 2040 Urban Master Plan, Dubai Islands (formerly known as Deira Islands) will reinforce […]
By James M Dorsey When Russia invaded Ukraine, it took itself off the map of Eurasian transport corridors linking China and Europe. At the same time, it breathed new life into moribund routes that would allow goods to travel across the Eurasian landmass without traversing Russia. It also opened the door to greater Russian […]
The post Heyday For Geopolitics Of Eurasian Transport first appeared on IPA Newspack.
Arabian Post Staff Al Jalila Foundation, a member of the Mohammed bin Rashid Al Maktoum Global Initiatives, has partnered with a leading cryptocurrency platform to expand the foundation’s donation channels. The foundation has thus become the first healthcare charity in the UAE to accept digital money donations. The foundation simultaneously announced that it has been granted approval to receive charitable donations in cryptocurrencies. The unprecedented move in […]
Arabian Post Staff A record price of AED 12,624 per square foot was achieved for a 3- bedroom unit in Bulgari Resort and Residences, making this transaction the highest recorded price per square foot in the history of Dubai. According to Kianoush D. and Lina A., Associate Partners at Driven Properties, the brokers behind the deal, the Bulgari Resort and Residences continues to be the most coveted […]
Arabian Post Staff Crypto firms will flock to Dubai as UAE crypto regulation guides crypto sector rather than curbs it, according to data analyst firm GlobalData. The UAE’s regulation is more about overseeing the development of the crypto sector than curbing it. By accepting the inevitability of mainstream crypto assets and helping the domestic crypto sector grow, the UAE will continue to attract a flock of crypto […]
Arabian Post Staff Dubai International (DXB) continues to be the world’s busiest airport by international passenger numbers for the eighth consecutive year after clocking 29.1 million in annual traffic in 2021. DXB’s annual traffic exceeded forecasts for the year by more than half a million passengers, on the back of a strong last quarter. Paul Griffiths, CEO of Dubai Airports, described an eventful year which, despite the […]
By Suraj Tiwari The pandemic has shifted the travel process, and it’s brought the airport experience to the forefront. With travel restrictions easing globally, border control authorities are likely to spend more time scrutinising travellers’ records, given the added need to review health credentials and vaccination statuses. While biometric identity management systems have helped improve this situation to some extent by enabling officials at border gates to […]
Residential values in the world’s tallest building – The Burj Khalifa, have climbed 23%, according to analysis carried out by global property consultant Knight Frank to mark the 12th anniversary of Dubai’s iconic global landmark. At almost AED 2,100 per square foot, the Burj Khalifa falls squarely into the luxury category. Indeed, prices in the world’s tallest building rose by 23% last year, compared to a more modest […]
Dubai’s general budget for the fiscal cycle of 2022-2024, with a total expenditure of AED181 billion supports Dubai’s efforts to stimulate the macroeconomy and the objectives of the Dubai Strategic Plan 2030. The new general budget reflects the emirate’s determination to accelerate post-pandemic economic recovery and achieve the leadership’s broader goals to stimulate entrepreneurship, enhance society’s happiness and consolidate Dubai’s position as a land of opportunities and […]
Arabian Post Staff CARS24, India’s e-commerce platform for pre-owned vehicles, announced the closing of a $400 million round of funding, including a $300 million Series G equity round alongside $100 million debt from diversified financial institutions. This is CARS24’s third round of fund raising in over a year and values the used cars e-commerce player at $3.3 billion, about double the valuation from its previous round in […]
Arabian Post Staff Pandora Papers have made fresh disclosures about a trove of secret records obtained by the International Consortium of Investigative Journalists, revealing that the UAE is home to a raft of shady players in the offshore world. Among them: A Belgian tycoon accused of profiting from the smuggling of “conflict gold” ripped from violence-torn regions of the Democratic Republic of Congo. An internet mogul from […]
Mashreqbank PSC, Dubai’s third-biggest bank, will pay $100 million to settle allegations that it violated U.S. sanctions by illegally processing more than $4 billion of payments tied to Sudan, Bloomberg reported quoting a New York financial regulator. The oldest privately owned lender in the United Arab Emirates processed the transactions from 2005 to 2014 and instructed employees to leave out key details in messages sent between banks […]
Arabian Post Staff The Dubai World Trade Centre Authority (DWTCA) today announced new regulations to encourage family businesses to establish Single and Multiple Family Office (SFO & MFO) licenses with the free zone. The regulations address the needs of family-run entities and introduce a new platform for wealthy families to set-up offshore holding companies within DWTCA’s designated free zone to manage their private family global wealth, assets […]
Arabian Post Staff Residential property values in the UAE’s two largest cities, Dubai and Abu Dhabi, have expanded at their fastest pace since 2015, according to provisional data for the third quarter from global property consultancy, Knight Frank. According to Faisal Durrani, Partner – Head of Middle East Research, the UAE’s decisive, rapid and world leading response to the pandemic has caught the attention of the world’s […]
Arabian Post Staff Dubai’s non-oil external trade surged 31 percent in the first half of 2021 to reach AED722.3 billion from AED550.6 billion in the corresponding period in 2020. Exports grew 45 percent year on year (YoY) in H1 2021 to AED109.8 billion from AED75.8 billion, which supports the goal of the 10 x 10 programme (one of the nation’s ‘Projects of the 50’ initiatives) to increase […]
More than ever before, Indians are now eyeing properties in Dubai. Investing in real estate has emerged as the quickest way to get a residency permit in UAE, and since 2017, Indians have ranked amongst the top 3 nationalities investing in property in Dubai. In 2019, Indians contributed 16% of the housing sales in Dubai sales by volume – pushing in more than 8 Bn AED into […]
Arabian Post Staff The sale of homes priced at over $10 million has risen sharply in Dubai, according to property consultants Knight Frank. “The uber luxury end of the market is a terrific barometer for general market sentiment. And in Dubai, we appear to be in the midst of a spectacular post-Covid rebound in luxury home sales. There have been 22 sales of homes worth more than […]
