Category: What’s On

Commercial real estate in the UAE represents a dynamic and rapidly growing market segment, encompassing office buildings, shopping centers, and warehouse facilities. Effective management of these properties is vital for ensuring profitability, tenant satisfaction, and maintaining asset liquidity. This process requires a comprehensive approach, including technical maintenance, marketing, lease optimization, and transaction support.Key Aspects of Commercial Property Management Office Building Management. Managing office buildings demands a professional approach, involving:Organizing the maintenance of engineering systems such as air conditioning, heating, and security

Saudi Crown Prince Mohammed bin Salman has pledged to invest at least $600 billion in the United States over the next four years. This commitment was made during a phone call with President Donald Trump, who had previously suggested that Saudi Arabia could be his first foreign destination if the kingdom agreed to purchase $500 billion worth of U.S. products. The two leaders discussed enhancing bilateral cooperation and regional stability, with a focus on economic and security issues.This substantial investment

Youthful, glowing skin is often associated with health, vitality, and confidence. As we age, however, our skin undergoes changes that can make it appear dull, uneven, and less radiant. While these changes are natural, they can affect how we feel about ourselves. For many, the quest to maintain or restore youthful skin leads to exploring advanced cosmetic treatments.Laser treatments for face have emerged as one of the most effective methods for rejuvenating the skin. These procedures address many concerns, from

Dubai-based developer Sobha Realty is set to unveil a range of new projects in the UAE this year, capitalizing on the nation’s property boom. The company’s founder recently confirmed plans to introduce eight to 10 new ventures, collectively valued in the multibillion-dirham range. These upcoming developments come at a time when the UAE’s real estate market has shown significant signs of resilience and growth, despite global economic pressures.Sobha Realty’s expansion strategy goes beyond the UAE, with the company also

Numou, a subsidiary of Abu Dhabi Global Market (ADGM), has significantly expanded its digital lending marketplace by partnering with prominent institutions, including the Khalifa Fund for Enterprise Development and private credit providers such as Credible-X, Klubworks, and NymCard Payment Technologies. This initiative aims to revolutionize financing for small and medium-sized enterprises (SMEs) in the United Arab Emirates (UAE), offering a seamless, fully digital application process that connects businesses directly with suitable lenders.SMEs constitute approximately 94% of all companies in

Hot weather makes keeping a car looking good very important. The intense sun and high temperatures create problems. These pose important challenges for vehicle owners. UV rays rapidly oxidize paint, causing colors to fade as well as surfaces to dull. Heat, furthermore, can worsen minor imperfections like swirl marks as well as scratches, thus increasing their visibility in addition to making them more difficult to fix later.Car polishing protects against ecological damage. Surface imperfections are removed, as well as a

A Dubai court has ordered the former CEO of Drake & Scull International, Khaldoun Al Tabari, alongside a former employee, to pay a staggering $41.3 million in damages. The court ruling follows the company's involvement in financial mismanagement that led to significant losses. Al Tabari and the ex-employee, identified as an unnamed former senior manager, were found guilty of embezzlement and fraudulent practices during their tenure at the firm.Drake & Scull, once a leader in the regional construction industry, has

Dubai's private education sector has achieved a notable milestone, with student enrolment increasing by 6% in the 2024-25 academic year, reaching a total of 387,441 students across 227 private schools. This growth underscores the city's commitment to providing diverse and high-quality educational options to its expanding and diverse population.In alignment with Dubai's Education Strategy E33, which aims to establish at least 100 new private schools by 2033, ten new private schools opened during the 2024-25 academic year. This

Carrefour has officially exited Oman, marking the conclusion of its collaboration with Majid Al Futtaim. This decision follows years of shared operations within the retail market, as the multinational giant, part of the French conglomerate Groupe Carrefour, faced increasing competition and changing dynamics within the regional landscape.Majid Al Futtaim, the operator of Carrefour in the region, has opted to pivot towards a new retail format called Hypermax. This new direction aligns with their strategy to reposition their retail offerings and

Venture capital funding in Saudi Arabia and the UAE has experienced a notable decline, as shifting investor priorities and regional economic trends impact the growth of startups and early-stage businesses in both countries. The drop reflects broader changes in the global investment landscape, marked by a heightened focus on risk-adjusted returns and increased caution in the face of global economic uncertainty.In the past year, venture capital funding in these two Middle Eastern powerhouses has seen a reduction in the volume

Abu Dhabi has introduced a new initiative aimed at easing business setup procedures, creating a more efficient environment for entrepreneurs and investors. The Abu Dhabi Regulatory Authority (ADRA) has been established to streamline business registration processes, offering faster, more transparent services to individuals and companies looking to establish operations in the emirate.ADRA’s formation marks a significant shift in how businesses interact with regulatory bodies, as it consolidates multiple services previously handled by various departments under one umbrella. This new centralized

These days, laptops are such a part of our lives. It has indeed helped in giving us the lead to keep connected, productive and entertained as well. Amongst best-selling reliable and versatile laptops available in the market is HP, which is marked with performance and durability. Despite always having a price tagged when it comes to buying a brand-new HP laptop. This is where refurbished HP laptops at PC Mart Dubai come to the rescue. They give just the right

A significant rise in criminal activities linked to cryptocurrency has become evident as digital assets continue to attract widespread attention. Fraud, hacking, and illicit transactions are taking advantage of the growing market, drawing the focus of law enforcement agencies worldwide. The allure of cryptocurrencies for both investors and criminals has generated a rapidly expanding industry that remains vulnerable to abuse.In 2024, the global cryptocurrency market's value surged to record levels, reaching over $2 trillion. As its popularity grows, so too

AD Ports Group has refinanced and increased its revolving credit facility (RCF) from $1 billion to $2.125 billion, aiming to optimize financing costs by improving interest margins and extending the facility's maturity from 2026 to 2028, with an option to extend further until 2030.The new facility has garnered significant interest from local, regional, European, Asian, and international banks, leading to an oversubscription of over 2.5 times the facility amount.This strategic move is expected to enhance AD Ports Group's

Central banks across the Gulf Cooperation Council (GCC) have reduced key interest rates, mirroring the U.S. Federal Reserve's decision to lower its benchmark rate by 25 basis points (bps). This synchronized monetary policy adjustment underscores the region's commitment to maintaining currency pegs to the U.S. dollar and supporting economic stability.The Federal Reserve decreased the federal funds target rate range to 4.25%–4.5%, signaling a cautious approach to future rate reductions amid stable unemployment and modest inflation improvements. In response, GCC nations,

The United Arab Emirates has unveiled a pioneering system enabling tourists to obtain Value Added Tax (VAT) refunds on e-commerce purchases made during their stay. This initiative, launched by the Federal Tax Authority (FTA) in collaboration with Planet, the authorized operator of the VAT refund scheme, aims to enhance the UAE's appeal as a premier destination for both tourism and online shopping.Under this new system, tourists can request VAT refunds directly through registered e-commerce platforms by providing their travel document

The UAE property market has experienced a significant surge in demand as a growing number of Europeans relocate to Dubai, seeking a dynamic lifestyle and favorable business environment. According to Ali Sajwani, Managing Director of Damac Properties, a leading real estate developer in the region, the shift has been fueled by a combination of factors that make Dubai an increasingly attractive destination for expatriates. These factors include the city's relatively tax-friendly environment, its strategic location, and a high standard of

Dubai Islamic Bank (DIB) is open to acquiring other banks and financial technology (FinTech) businesses as part of its strategy to expand its market presence and strengthen its service offerings. CEO of DIB, Adnan Chilwan, highlighted the bank's interest in further diversifying its portfolio to meet the evolving needs of customers. This approach is in line with DIB’s broader growth strategy, which has already seen significant investments in the digital space.As one of the largest Islamic banks in the UAE,

The United States government has granted approval for the export of advanced artificial intelligence (AI) chips to the United Arab Emirates (UAE), marking a significant development in the global AI hardware market. This decision, part of a strategic agreement with Microsoft, enables the UAE to enhance its technological infrastructure and further its ambitions in the field of AI and data science. The chips in question are designed to support complex machine learning tasks and are considered essential for the continued

Uber Technologies has officially rolled out autonomous ride-hailing services in Abu Dhabi in collaboration with WeRide, a leading autonomous vehicle technology firm. This strategic partnership marks a significant step forward in integrating autonomous mobility solutions within the region, leveraging WeRide’s advanced autonomous vehicle systems on Uber's platform.WeRide, recognized for operating the largest autonomous fleet in the UAE through its TXAI app, secured national authorization in 2023 to operate self-driving cars on public roads. This regulatory groundwork enabled the

Madinat Jumeirah will host a magical Christmas Market from December 6 to December 31, transforming Fort Island into a picturesque winter wonderland. The iconic Dubai destination will offer a unique festive experience, attracting visitors of all ages. From twinkling lights to festive food stalls, the market promises to deliver an enchanting atmosphere.Visitors can enjoy the market's array of seasonal activities, starting daily from 3 PM on weekdays and noon on weekends. Open until late, the market invites guests to explore

An important component in many industries is stainless steel screws and fasteners. Their advantages include high strength, corrosion resistance and possibility to operate at elevated temperatures. All fasteners, including hex bolts, nuts and other fastening components, have different kinds of threads; fasteners are fitted with threads and the external threading types determine how these fasteners will perform with given bolts or nuts. Therefore, reliability and performance of the fastening system is determined by the type of thread which is chosen.

Saudi Arabia is advancing its healthcare framework through a strategic partnership with China's BGI Genomics, a globally recognized leader in biotechnology. This collaboration is set to focus on transformative healthcare solutions, including advanced genetic research, infectious disease management, and early cancer detection. This development aligns with Saudi Vision 2030, which emphasizes healthcare modernization and increased investment in precision medicine.The agreement between BGI Genomics and Saudi Arabia's Public Health Authority entails leveraging cutting-edge technologies to bolster public health. The collaboration will

Abu Dhabi Investment Group is set to deploy a significant $100 billion in Brazil’s economy, marking a major step in the strengthening of bilateral economic ties between the UAE and Latin America’s largest economy. The announcement, made in late November 2024, highlights the UAE's growing investment interests in Brazil, underscoring the nation’s desire to diversify its portfolio globally.The planned investments span a range of sectors, with the bulk directed towards infrastructure, energy, and technology. This deal signals not only a

Operations at the London office of a hedge fund tied to a prominent figure in Iran's oil sector are set to wind down amid ongoing regulatory scrutiny and shifting geopolitical landscapes. The decision marks a significant development in the financial hub's interactions with entities linked to sanctioned economies, underscoring broader challenges in managing global compliance and transparency in investment sectors.The hedge fund, associated with a businessman known for his influential role in Iran's energy industry, has faced mounting

Emirates REIT, the first Sharia-compliant real estate investment trust in the UAE, is moving toward significant financial restructuring as it evaluates refinancing or issuing new sukuk by the close of 2024. This development comes amidst the company's strategy to optimize its capital structure and strengthen its financial position.The REIT currently has a $380 million secured sukuk, which has been a focus of its ongoing efforts to reduce leverage. The firm has already executed partial redemptions earlier this year, signaling

Dubai's real estate sector has seen a remarkable uptick in both existing and off-plan property transactions during October 2024, showcasing the market's resilience and growing investor confidence. Data reveals that the emirate continues to captivate both local and international buyers, driven by its robust economy, dynamic development projects, and strategic initiatives aimed at diversifying its financial landscape.Figures from the Dubai Land Department (DLD) indicate that property transactions across the emirate soared, with notable activity across both the residential and commercial

Fitch Ratings has placed certain bonds issued by Adani entities under a "negative watch" as scrutiny of the group's governance intensifies following allegations of corruption tied to Sri Lankan projects. This development comes amid renewed focus on a contentious $442 million wind power project in Sri Lanka's Mannar region, which has sparked concerns over environmental compliance and procedural irregularities.The Sri Lankan government had reportedly flagged potential missteps in the Adani Group’s acquisition of the Mannar and Pooneryn wind

The UAE Central Bank has taken decisive action against Al Razouki Exchange, suspending its operations and closing two of its branches. This move follows a series of regulatory concerns surrounding the exchange’s financial practices and its adherence to the country’s monetary regulations. The suspension is part of the UAE's broader efforts to tighten its control over financial institutions, ensuring they comply with established rules to maintain transparency and safeguard the national financial system.The central bank's decision has sent a clear

Lada, the iconic Russian automaker, has made its entry into the UAE market, offering residents the chance to test drive and place orders for its vehicles. Through its official distributor in the UAE, the Russian brand is now showcasing a variety of models, including the Granta Sedan, Vesta SW Cross, Niva Legend, and Niva Travel, which are available for purchase and direct engagement by potential buyers in Dubai.The launch of Lada in the UAE marks a significant expansion of the

The Woofstock Pet Festival, a one-of-a-kind event for dog enthusiasts, is set to take place at Dubai Islands Beach on November 23 and 24, 2024. This two-day celebration will offer an opportunity for pet owners and their furry companions to engage in workshops, enjoy various activities, and participate in educational seminars, all in a family-friendly and dog-friendly environment.Hosted by Doggie Adventures UAE, Woofstock promises to be a vibrant gathering of pet lovers, featuring a mix of entertainment, workshops, and delicious

EFG Hermes has launched a groundbreaking $300 million education fund aimed at reshaping Egypt’s educational landscape. This initiative is part of the company’s broader efforts to significantly boost the education sector, aligning with Egypt's Vision 2030. The fund's primary goal is to generate sustainable returns while expanding access to high-quality education.The fund comes at a time when Egypt’s education system faces growing demands for modernization, especially in the face of increasing population numbers and the limitations of current infrastructure. EFG

The UAE grocery retail market, valued at around $40 billion, is set for significant growth over the next few years. Projections suggest a compound annual growth rate (CAGR) of approximately 6.5%, which is expected to fuel expansion across multiple sectors. This growth trajectory comes despite challenges such as inflationary pressures and shifts in consumer behavior due to economic volatility and changing shopping patterns.Supermarkets and hypermarkets continue to dominate the UAE's grocery landscape, accounting for the largest portion of the market.

Abu Dhabi’s sovereign wealth fund, the Abu Dhabi Investment Authority (ADIA), is significantly increasing its allocations to private equity in a strategic pivot to enhance long-term returns. This move underscores ADIA’s growing interest in high-risk, high-reward investment opportunities as it adapts to global market shifts. The fund’s decision comes at a time when traditional investment avenues are facing unprecedented volatility and when private equity is seen as a promising asset class capable of generating substantial returns despite economic uncertainty.ADIA, one