Company Insights Emaar Properties Real Estate Emaar Properties News Construction Gulf project contracts to hit $110bn this year A combined $110 billion worth of project contracts are expected to be awarded in the GCC this year, with Saudi Arabia accounting for more than half of the total as it ramps up its Vision 2030 economic diversification plans. Saudi Arabia make up $64 billion of the combined value, followed by the UAE ($23 billion), […] February 1, 2023 Real Estate UAE fund manager raises $212m to target build-to-rent market Global Partners, a Dubai-based institutional fund manager, has raised $212 million from global investors through its debut property fund, and intends to build two residential projects near Dubai Water Canal. Based in the emirate’s financial free zone Dubai International Financial Centre (DIFC), Global Partners specialises in alternative investments and aims to tap the UAE’s growing […] January 26, 2023 Retail Dubai Mall shoppers up 20% on pre-Covid levels, says Alabbar Visitor numbers at the Dubai Mall are a fifth higher than they were before the coronavirus pandemic, said Mohamed Alabbar, founder and chairman of Emaar Properties, the developer of both the Dubai Mall and Burj Khalifa. Alabbar said economic recovery from the pandemic is not only complete, but has exceeded 2019 figures. Footfall at the […] January 17, 2023 Construction Arada awards $129m contract to build Vida Aljada hotel complex UAE real estate developer Arada has awarded an AED475 million ($129.32 million) construction contract for the four buildings in the Vida Aljada hotel complex in its Aljada megaproject in Sharjah. The contract will see the construction of the 175-room Vida Aljada hotel, as well as 255 branded residences and 149 branded serviced apartments, which will […] January 13, 2023 Analysis Banking and Finance Global fintechs target Dubai but Mena expansion still elusive Dubai is seeing elevated levels of interest from fintech companies based in Singapore, southeast Asia and Asia-Pacific as the emirate builds its status as a regional hub. Dubai International Financial Centre said that during the first nine months of 2022, the number of fintech and innovation firms joining DIFC exceeded the total for the whole […] December 8, 2022 Analysis Retail Global luxury fashion brands look to the Gulf for growth in 2023 The Middle East and North America are expected to have the highest growth potential for the fashion industry in 2023, as executives deprioritise countries like China in the short term. The war in Ukraine, rising inflation and supply chain pressures are the biggest threats to the fashion industry in the run-up to a challenging year […] December 2, 2022 Manufacturing Saudi’s Ceer spends $96m on plot for electric car factory Ceer, Saudi Arabia’s first electric vehicle brand, has spent nearly $96 million on an industrial plot at King Abdullah Economic City. In a stock market filing on Saudi’s Tadawul, developer Emaar Economic City said a land sale deal had been signed and KAEC’s Industrial Valley would host a “specialised factory” to manufacture electric vehicles. Ceer […] November 29, 2022 Analysis Banking and Finance Fintech competition means UAE banks must change to survive The banking sector in the UAE could grow faster than the nation’s economy but competition from fintechs poses a threat to the survival of banks unless they restructure their operating models, according to a senior industry official. Abdul Aziz Al Ghurair, chairman of the UAE Banks Federation, warned that banks will have to change the […] November 15, 2022 Analysis Real Estate ‘Jury’s still out’ on hybrid working, says top fund manager “The jury’s still out” on the post-pandemic model of working partly in the office and partly at home, according to a leading UAE real estate investment trust (REIT) manager. Thierry Leleu, CEO of Equitativa, told AGBI that the “office sector is a sector that we are confident in here in the UAE.” Equitativa is manager […] September 21, 2022 Manufacturing Abu Dhabi bids to become electric vehicle manufacturing hub Abu Dhabi today announced plans for its first electric vehicle assembly facility as the emirate looks to join Saudi Arabia and Sharjah in building a regional manufacturing hub for sustainable transport options. KIZAD, part of AD Ports Group’s Economic Cities & Free Zones, has signed a lease agreement with NWTN to establish an assembly plant […] September 6, 2022 Posts navigation Previous 1 … 10 11 12 … 14 Next
Construction Gulf project contracts to hit $110bn this year A combined $110 billion worth of project contracts are expected to be awarded in the GCC this year, with Saudi Arabia accounting for more than half of the total as it ramps up its Vision 2030 economic diversification plans. Saudi Arabia make up $64 billion of the combined value, followed by the UAE ($23 billion), […] February 1, 2023
Real Estate UAE fund manager raises $212m to target build-to-rent market Global Partners, a Dubai-based institutional fund manager, has raised $212 million from global investors through its debut property fund, and intends to build two residential projects near Dubai Water Canal. Based in the emirate’s financial free zone Dubai International Financial Centre (DIFC), Global Partners specialises in alternative investments and aims to tap the UAE’s growing […] January 26, 2023
Retail Dubai Mall shoppers up 20% on pre-Covid levels, says Alabbar Visitor numbers at the Dubai Mall are a fifth higher than they were before the coronavirus pandemic, said Mohamed Alabbar, founder and chairman of Emaar Properties, the developer of both the Dubai Mall and Burj Khalifa. Alabbar said economic recovery from the pandemic is not only complete, but has exceeded 2019 figures. Footfall at the […] January 17, 2023
Construction Arada awards $129m contract to build Vida Aljada hotel complex UAE real estate developer Arada has awarded an AED475 million ($129.32 million) construction contract for the four buildings in the Vida Aljada hotel complex in its Aljada megaproject in Sharjah. The contract will see the construction of the 175-room Vida Aljada hotel, as well as 255 branded residences and 149 branded serviced apartments, which will […] January 13, 2023
Analysis Banking and Finance Global fintechs target Dubai but Mena expansion still elusive Dubai is seeing elevated levels of interest from fintech companies based in Singapore, southeast Asia and Asia-Pacific as the emirate builds its status as a regional hub. Dubai International Financial Centre said that during the first nine months of 2022, the number of fintech and innovation firms joining DIFC exceeded the total for the whole […] December 8, 2022
Analysis Retail Global luxury fashion brands look to the Gulf for growth in 2023 The Middle East and North America are expected to have the highest growth potential for the fashion industry in 2023, as executives deprioritise countries like China in the short term. The war in Ukraine, rising inflation and supply chain pressures are the biggest threats to the fashion industry in the run-up to a challenging year […] December 2, 2022
Manufacturing Saudi’s Ceer spends $96m on plot for electric car factory Ceer, Saudi Arabia’s first electric vehicle brand, has spent nearly $96 million on an industrial plot at King Abdullah Economic City. In a stock market filing on Saudi’s Tadawul, developer Emaar Economic City said a land sale deal had been signed and KAEC’s Industrial Valley would host a “specialised factory” to manufacture electric vehicles. Ceer […] November 29, 2022
Analysis Banking and Finance Fintech competition means UAE banks must change to survive The banking sector in the UAE could grow faster than the nation’s economy but competition from fintechs poses a threat to the survival of banks unless they restructure their operating models, according to a senior industry official. Abdul Aziz Al Ghurair, chairman of the UAE Banks Federation, warned that banks will have to change the […] November 15, 2022
Analysis Real Estate ‘Jury’s still out’ on hybrid working, says top fund manager “The jury’s still out” on the post-pandemic model of working partly in the office and partly at home, according to a leading UAE real estate investment trust (REIT) manager. Thierry Leleu, CEO of Equitativa, told AGBI that the “office sector is a sector that we are confident in here in the UAE.” Equitativa is manager […] September 21, 2022
Manufacturing Abu Dhabi bids to become electric vehicle manufacturing hub Abu Dhabi today announced plans for its first electric vehicle assembly facility as the emirate looks to join Saudi Arabia and Sharjah in building a regional manufacturing hub for sustainable transport options. KIZAD, part of AD Ports Group’s Economic Cities & Free Zones, has signed a lease agreement with NWTN to establish an assembly plant […] September 6, 2022
