Category: What’s On

Dubai Residential REIT’s debut on the Dubai Financial Market marked a significant milestone, closing nearly 14% higher at AED 1.25 per unit from its offer price of AED 1.10. The $584 million offering, backed by Dubai Holding, attracted overwhelming demand, with the IPO oversubscribed 26 times, reflecting strong investor confidence in Dubai’s residential real estate sector.The REIT, focusing exclusively on residential leasing, launched with a market capitalisation of AED 14.3 billion and projects a gross dividend yield of

Gulf nations are intensifying their investments in global sports, strategically deploying sovereign wealth funds to diversify economies and enhance international standing.Saudi Arabia, the United Arab Emirates , and Qatar are at the forefront of this movement, each utilising sports as a vehicle for economic diversification and soft power projection. Saudi Arabia's Public Investment Fund , managing assets exceeding $700 billion, has acquired significant stakes in domestic football clubs, including Al Hilal, Al Nassr, Al Ittihad, and Al Ahli. These acquisitions

Mubadala Investment Company has launched Mubadala Bio, a life sciences enterprise aimed at bolstering the United Arab Emirates' pharmaceutical sector, enhancing health outcomes, and propelling economic diversification. The announcement precedes the company's participation in the Make it in the Emirates 2025 initiative.Mubadala Bio is set to concentrate on national drug security, expanding access to essential therapeutics and medical devices, and fostering a knowledge-based economy. This move aligns with the UAE's broader strategy to establish itself as a global leader in

The United Arab Emirates has committed to increasing its energy sector investments in the United States to $440 billion over the next decade, a significant expansion from the current $70 billion. This strategic move was announced by Sultan Al Jaber, chief executive of Abu Dhabi National Oil Company , during a high-profile meeting with US President Donald Trump amid his Gulf tour aimed at fostering major business deals.This ambitious escalation underscores the UAE’s commitment to strengthening economic ties with the

President Donald Trump has announced a series of agreements exceeding $200 billion between the United States and the United Arab Emirates, including a $14.5 billion deal involving Etihad Airways, Boeing, and GE Aerospace. The announcement was made during Trump's visit to the UAE, part of his broader Middle East tour aimed at strengthening economic and diplomatic ties.Etihad Airways confirmed the purchase of 28 wide-body Boeing aircraft equipped with GE engines, scheduled for delivery starting in 2028. The order includes Boeing

Saudi Arabia has launched HUMAIN, a new artificial intelligence company under the Public Investment Fund , aiming to position the kingdom as a global leader in AI innovation. Chaired by Crown Prince Mohammed bin Salman, HUMAIN is set to provide advanced AI services, including next-generation data centres, AI infrastructure, cloud capabilities, and sophisticated AI models. A key focus will be the development of one of the world's most powerful multimodal Arabic large language models , addressing a significant gap in

A high-level delegation from Abu Dhabi has arrived in Tokyo for the inaugural Abu Dhabi Investment Forum, marking a significant step towards deepening the economic ties between the UAE capital and Japan. The four-day visit, running from May 6 to 9, sees top officials and private sector leaders from Abu Dhabi engaging with their Japanese counterparts to explore new areas of collaboration, particularly in advanced industries such as artificial intelligence, space technology, clean energy, and advanced manufacturing.The visit signals a

Dubai's residential property market is grappling with mounting pressure as the city's population swells, leading to an unprecedented demand for housing that outpaces current supply levels.By the end of March 2025, Dubai's population had reached 3.92 million, with an influx of 89,695 new residents in the first quarter alone—averaging nearly 1,000 people per day. This surge follows a net population increase of 170,478 individuals in 2024, marking the highest growth since 2018. The rapid demographic expansion has intensified the strain

Dubai International Airport is expected to cease operations in the near future, with Dubai Airports CEO Paul Griffiths confirming that Al Maktoum International Airport will eventually replace DXB as the city’s primary air travel hub. Griffiths revealed the plan at the Arabian Travel Market this week, indicating that DWC's expansion would pave the way for the closure of DXB.As Dubai continues to experience rapid growth in air travel demand, the strategic move to shift all services to

Dar Global and The Trump Organization have announced the development of Trump International Hotel & Tower in Dubai, marking a significant expansion of the Trump brand in the Middle East. The 80-storey skyscraper is set to become the tallest building on Sheikh Zayed Road, standing at 350 metres. Scheduled for completion in December 2031, the tower will introduce a new level of luxury living to the city.The development will feature a Trump Hotel Dubai, offering five-star accommodations, and branded residential

Emaar Malls Management has announced a four-month rent waiver for over 50 food and beverage tenants with terraces facing the Lake and Fountain areas at Dubai Mall and Souk Al Bahar. The initiative, effective from June to September 2025, aims to mitigate the anticipated decline in footfall resulting from the temporary closure of the Dubai Fountain for upgrades.The Dubai Fountain has been a significant attraction, drawing visitors to the adjacent dining establishments. Its closure is expected to impact

Azizi Developments has announced a $20.4 billion master-planned community named Azizi Milan, set to rise along Sheikh Mohammed Bin Zayed Road in Dubai. This ambitious project aims to blend Italian architectural elegance with Dubai's modern urban landscape, featuring over 30,000 residential units, including 100 mid-rise apartment complexes and more than 400 luxury villas and mansions.Spanning approximately 15 million square feet, Azizi Milan is designed to be a self-sustaining community with a focus on luxury and lifestyle. Central to the development

Dubai’s luxury property market has seen an impressive surge in sales, with 111 homes valued at over $10 million changing hands during the first quarter of 2025. This marks the highest number of sales for the first quarter on record, signalling a robust demand from ultra-wealthy individuals seeking to invest in the emirate’s prime real estate.The sales activity represents a 5.7 per cent increase compared to the same period in 2024, with total transactions amounting to $1.9 billion, according to

Expeditors International of Washington, a Fortune 500 logistics company, has inaugurated a 23,200-square-metre facility within Dubai South’s Logistics District, reinforcing its strategic presence in the Middle East. The facility, which began operations in February 2025, is designed to enhance Expeditors’ warehousing and container freight station capabilities, aligning with the region’s growing demand for advanced logistics solutions.The inauguration ceremony was attended by senior leadership from both organisations, including HE Khalifa Al Zaffin, Executive Chairman of Dubai Aviation City Corporation and Dubai

Dubai is set to commence trials of 50 autonomous taxis in 2025, marking a significant advancement in the city's transportation landscape. The initiative, led by the Roads and Transport Authority , aims for a broader public rollout by 2026, aligning with Dubai's ambition to have 25% of all transport journeys conducted via autonomous means by 2030.The trial phase will involve a fleet of 50 self-driving vehicles, each equipped with advanced sensors and AI-driven navigation systems. These vehicles will operate with

The Dubai Fountain, a prominent attraction in Downtown Dubai, is set to close for five months starting Saturday, April 19, to facilitate a comprehensive upgrade. Emaar Properties, the developer behind the project, has announced that the renovation will commence in May and is expected to be completed by October 2025. The final performance before the closure is scheduled for April 19.The planned enhancements aim to elevate the fountain's performances through the integration of advanced technology, improved choreography, and upgraded sound

Dubai Internet City is set to spotlight its pivotal role in the Middle East's digital economy at GITEX Asia 2025, scheduled from April 23 to 25 at Marina Bay Sands, Singapore. As part of a delegation led by Dubai’s Department of Economy and Tourism, DIC aims to attract global investors and tech enterprises to its expanding innovation ecosystem.Celebrating its 25th anniversary, DIC has evolved into a cornerstone of Dubai's digital transformation. An impact assessment conducted in collaboration with Accenture

Ajman Bank has divested its stake in Gulf Navigation Holding, concluding a series of direct share transactions valued at AED 173.4 million over the past month. Data from the Dubai Financial Market indicates that nine direct deals, each ranging between 2.6 million and 9 million shares, were executed since March 5. This move signifies the bank's complete exit from its investment in the Dubai-based shipping company.Previously, Ajman Bank held a 6.4% stake in Gulf Navigation as of 2024,

A rare 10.03-carat blue diamond, known as "The Mediterranean Blue," is the centrepiece of Sotheby's latest exhibition in Abu Dhabi, showcasing a collection of exceptional diamonds valued at approximately $100 million. The exhibition, which opened on April 8 at the Bassam Freiha Art Foundation on Saadiyat Island, marks Sotheby's first public display in the United Arab Emirates' capital since 2009.The Mediterranean Blue, a cushion-shaped modified brilliant-cut gem, has been graded as Fancy Vivid Blue by the Gemological Institute of

Hotel establishments across the United Arab Emirates reported revenues of approximately AED37.1 billion from January to October 2024, reflecting a 4% increase compared to the same period in 2023. The hotel occupancy rate also experienced growth, reaching nearly 78%, up 2.7% from the corresponding period last year. Abdulla bin Touq Al Marri, Minister of Economy and Chairman of the UAE Tourism Council, highlighted that these figures underscore the expanding growth of Emirati tourism across various sectors, supporting the National Tourism

Oil prices have experienced a significant decline, reaching their lowest levels since April 2021, driven by escalating trade tensions between the United States and China, coupled with strategic decisions by OPEC+ regarding oil production.Brent crude futures dropped by $2.28, settling at $63.30 per barrel, while U.S. West Texas Intermediate crude decreased by $2.20 to $59.79 per barrel. This marks a continuation of a downward trend, with Brent and WTI falling by 10.9% and 10.6% respectively over the past week.The

President Donald Trump has announced a comprehensive tariff strategy, imposing a baseline 10% duty on all imports into the United States, with significantly higher rates targeting approximately 60 countries. This move, declared during a White House event termed "Liberation Day," aims to address trade imbalances and bolster domestic industries.Under the new policy, key trading partners will face steep tariffs: China is subjected to a 34% duty, the European Union 20%, Japan 24%, South Korea 25%, Vietnam 46%, and Taiwan 32%.

In a city like Dubai, it is very important not to forget about achieving personal goals, given how fast life rushes in the vastness of such a metropolis. For many people, this seems impossible, because there are too many distractions that do not even allow you to exercise normally. The solution is very simple and effective, which has already been tested in practice many times - contacting a gym with personal trainers in Dubai will allow you to get help

AD Ports Group and Columbia Group have announced the formation of a joint venture, Noatum – CSM Limited, aimed at optimizing vessel operations through advanced fleet management systems. This collaboration seeks to enhance the management of AD Ports Group's ocean-going fleet and extend services to third-party vessels.The partnership integrates Columbia Group's expertise in fleet management and AI-driven performance analytics with AD Ports Group's diverse fleet and ship management experience. The joint venture will be based in the UAE and will

Abu Dhabi National Energy Company PJSC, known as Taqa, has initiated discussions to acquire a stake in Spain's Naturgy Energy Group SA. Taqa's chairman and UAE Minister of Investment, Mohamed Hassan Alsuwaidi, traveled to Spain to meet with executives from CriteriaCaixa SA, Naturgy's largest shareholder, to explore a potential deal.CriteriaCaixa holds a 26.7% stake in Naturgy and has expressed openness to negotiations under specific conditions: Taqa must not seek a majority stake, and the transaction should not provoke diplomatic tensions

Imagine you're preparing for an important event, let's say a wedding. You have to prepare the location, invitations, menu, dress code, and all sorts of other details. But when you think about this day, there is one thing you can't imagine it without. And, of course, these are flowers.There are many cultures, traditions and ceremonies in the world, but flowers are the main attribute of nearly every celebration, especially when it comes to weddings. They symbolize love, happiness, and new

Hong Kong's tourism sector is actively seeking to attract high-net-worth travelers from the Middle East and Southeast Asia, implementing a series of strategic initiatives to diversify its visitor base and rejuvenate its economy.Recognizing the potential of affluent markets in the Gulf Cooperation Council countries and Southeast Asia, the Hong Kong government has allocated HK$1.2 billion in the 2025 budget to boost tourism. Finance Secretary Paul Chan emphasized the city's commitment to making "extra efforts" to attract high-value visitors

Oil prices have experienced a notable increase, marking the second consecutive weekly gain, as geopolitical developments and strategic decisions by major oil-producing entities influence global supply dynamics. The introduction of new US sanctions targeting Iran's oil sector, coupled with planned output adjustments by the Organization of the Petroleum Exporting Countries and its allies , have been pivotal in this upward trend.Brent crude futures recently rose by 0.3%, reaching $72.21 per barrel, while US West Texas Intermediate crude futures saw

Dubai has embarked on a groundbreaking initiative to revolutionise its real estate sector by launching a pilot project for property tokenization. Spearheaded by the Dubai Land Department , this endeavour positions Dubai as the first property registration authority in the Middle East to integrate blockchain technology into property title deeds, marking a significant milestone in the region's technological advancement.The core objective of this project is to democratise property ownership by allowing multiple investors to co-own a single property through digital

Abu Dhabi's Department of Municipalities and Transport has introduced the Value Housing Programme, a strategic initiative designed to diversify the emirate's real estate market and elevate living standards for both individuals and families. This programme underscores the emirate's commitment to fostering inclusive and sustainable communities, aligning with the broader objectives of the UAE Year of Community.The programme's phased implementation aims to address the increasing demand for housing by offering high-quality, affordable residential units. In collaboration with key industry

Dubai’s real estate sector saw a remarkable surge in February 2025, with property sales volumes hitting Dh41 billion, marking a 17 per cent increase compared to the previous month. This impressive growth underscores the city’s resilience amid global economic challenges and reinforces its standing as a top investment destination.The property market’s robust performance is attributed to a combination of factors, including a booming economy, a steady influx of residents, and targeted government initiatives. Despite the ongoing global uncertainties, Dubai

Dubai-based robotics manufacturer Micropolis Holding has successfully raised $15.5 million through its initial public offering on the NYSE American exchange. The company offered approximately 3.875 million ordinary shares at $4 per share, aligning with the lower end of the anticipated price range. Trading commenced on March 7, 2025, under the ticker symbol "MCRP".Established in 2014 and headquartered in Dubai Production City, Micropolis specializes in developing autonomous mobile robots . These robots utilize wheeled electric vehicle platforms equipped with

Riyadh is set to become the epicenter of artificial intelligence innovation as it prepares to host the Global AI Show on June 23-24, 2025. Organized by VAP Group, the event is expected to attract over 5,000 AI futurists, industry leaders, and innovators from around the world. This gathering underscores Saudi Arabia's commitment to establishing itself as a global hub for artificial intelligence, in line with its Vision 2030 initiative.The Global AI Show aims to foster collaboration among AI experts, policymakers,

Careem Pay, the financial services arm of the Careem app, has introduced a new remittance service enabling United Arab Emirates residents to send funds directly to bank accounts in Egypt. This development aims to provide a swift and cost-effective alternative to traditional banking methods for the substantial Egyptian expatriate community in the UAE.The UAE hosts a significant number of Egyptian expatriates, positioning Egypt among the top five destinations for remittances from the UAE. In recent years, the remittance flow