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Dubai

All the important stories on the emirate, plus exclusive opinion, analysis and interviews

Real estate

Housing programmes for citizens represent a top priority, said Dubai Ruler Sheikh Mohammed bin Rashid Al Maktoum

Dubai launches $1.5bn housing projects

Dubai has launched housing projects worth AED5.4 billion ($1.5 billion) across the emirate. The projects will result in 3,004 new homes being built for Emiratis, the UAE state-run Wam news agency reported. Of these, 1,181 homes will be in Latifa City for beneficiaries under the housing loan category. For beneficiaries in the housing grant category, […]

January 7, 2025
GCC real estate: the expat population of Riyadh grew under Vision 2030 projects but the Saudi government is also targeting domestic home ownership

Pricey homes and packed hotels: the year in GCC real estate

The story of the Gulf property market this year was about decreased housing affordability and a growing gap between top-quality properties and second-tier ones. Meanwhile, surging numbers of international visitors in the UAE, Saudi Arabia and Qatar brought thriving hospitality and retail sectors in the main tourist hotspots. Industry observers expect 2025 to bring more […]

December 27, 2024
A view of Dubai Marina. The overall value of property transactions in Dubai in 2023 reached AED322 billion (nearly $88 billion)

Buoyant property market puts billions in Dubai’s coffers

Dubai authorities have recorded a five-fold surge in the sums they earn from fees related to real estate transactions over the past five years to almost $4 billion, as the emirate’s property market grows stronger and prices rise sharply, AGBI has calculated. The transfer fee, payable to the Dubai Land Department (DLD) upon a sale, […]

November 8, 2024
Dubai developers can achieve better returns on mid-high-end properties rather than more affordable housing

Mid-range housing leapfrogs affordable competition in Dubai

Sales of affordable housing in Dubai declined over the past six years as a share of total transactions amid changing developers’ preferences and broader cost-of-living increases, industry professionals say. Properties below AED1 million ($272,000) peaked at 46 percent of all residential deals in the emirate in the third quarter of 2018. That figure has steadily […]

October 16, 2024

Latest Dubai News

Sheikh Ahmed bin Saeed Al Maktoum at Airbus headquarters. Emirates has 240 Boeing passenger planes and 61 Airbus A350-900s on order

Sheikh Ahmed: China’s Boeing rejects won’t fly for Emirates

Emirates Airline’s chairman Sheikh Ahmed bin Saeed Al Maktoum has downplayed speculation that the carrier could buy Boeing planes originally destined for China. Speaking at the Arabian Travel Market in Dubai on Tuesday, Sheikh Ahmed said Emirates was actively exploring options to expand its fleet, but the Boeing aircraft – ordered by Chinese carriers but […]

Flydubai operates a fleet of 88 Boeing 737s but wants to expand into longer-haul routes with 787 aircraft

Boeing delays are hampering Flydubai expansion, says CEO

Delays in the delivery of Flydubai’s first wide-body aircraft from Boeing are hampering the carrier’s expansion into long-haul routes and it may seek compensation, its CEO has told AGBI. The low-cost carrier is waiting for 30 Boeing 787-9 twin-aisle planes, part of an $11 billion deal announced at the 2023 Dubai Airshow.  The first deliveries […]

Binance Blockchain Week 2024 in Dubai 'proved how the right setting can turn an audience into a real community'

Binance powers crypto dialogue with community events 

Binance, the world’s largest cryptocurrency exchange by volume, is helping to unite the industry, facilitate connections and drive conversation through its calendar of live and online events. Kim Murphy, its head of global event marketing, gives us the lowdown Why are events so important to Binance and the industry?  Events bring crypto to life. They […]

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Dubai property prices have increased by approximately 70 percent in the last four years

Dubai ad portals exploring IPOs as real estate rises

Dubai-based classified ad portals Dubizzle and Property Finder are both said to be exploring the idea of selling shares to the public in an initial public offering, Bloomberg reported, citing people familiar with the matter. Dubizzle is preparing to meet with potential investors and could raise at least $500 million in a possible IPO, the […]

Travellers from Western Europe made up the bulk of international visitors to Dubai

International visitors to Dubai rise 3%

Dubai welcomed 3 percent more international visitors in the first quarter of this year compared with the same period last year, with the largest single group coming from Western Europe. More than 5.3 million people visited the emirate – the most populous of the seven-member UAE federation – with those from Western Europe accounting for […]

Regional investors may favour investments such as utilities and telecom companies with domestic operations

Market volatility adds allure to utilities and telecoms

In a month of wild market swings, Gulf equity investors have felt panic, trepidation, bewilderment and more. With further volatility probable, experts say a prudent strategy is to focus on defensive sectors less exposed to the global economy. Gulf bourses tumbled in early April, along with the US dollar and oil prices, after President Donald […]

Dubai Islamic Bank's net profit rose 8 percent in the first quarter

Dubai Islamic Bank reports first quarter profit increase

Dubai Islamic Bank’s profits rose in the first quarter of this year, as deposits increased by more than a third and the non-performing financing ratio improved. Net profit after taxes rose 8 percent annually to AED1.8 billion ($490 million) in the first three months of 2025, driven by quality growth in earning assets. Pre-tax profit […]

Aramex vehicle for shipment and delivery, Aramex co is logistics company delivering to any destination worldwide, internat

CEO of Dubai’s logistics company Aramex resigns

Othman Al-Jeda, group CEO of Dubai-listed logistics company Aramex, has resigned, the company said in a filing to the Dubai Financial Market on Thursday. Othman resigned “for personal reasons”, the company said, adding that the board of directors has appointed current chief financial officer Nicolas Sibuet as acting group CEO effective April 24.  Nicolas joined […]

The latest payment brings DAE's total insurance recovery to $601m

Dubai jet leaser wins $282m settlement in Russian case

Dubai Aerospace Enterprise (DAE), the Middle East’s largest aviation leasing company, has received a $282 million cash settlement from unnamed insurers for aircraft leased to Russian Federation carriers. This latest payment brings DAE’s total insurance recovery to $601 million.  With this settlement DAE and its partners have resolved all claims against the involved insurance and […]

A shop in the Gold Souk in Deira, Dubai. Sellers are suffering as the price of gold continues to soar

Gold’s record run brings little joy for Dubai jewellers

In the bustling Gold Souk in Dubai, dubbed the “City of Gold”, 22-karat gold jewellery is a traditional favourite for weddings, religious celebrations, and as a family investment. Yet with bullion prices hitting record highs above $3,400 an ounce, there are signs of change, as buyers opt for diamonds and lighter gold jewellery instead. While […]

Ramadan food discounting and lower transport costs contributed to inflation hitting a five-month low in March in Dubai, though housing costs persist

Dubai inflation falls to its lowest in five months

Dubai’s annual consumer price inflation fell in March to its lowest in five months, driven by lower transport and food costs, according to official data from Dubai Statistics Centre. The headline CPI inflation rate declined to 2.8 percent on an annual basis, from 3.2 percent in each of January and February. That is the lowest […]

Total income at Emirates NBD jumped 11 percent year on year to AED12 billion

Emirates NBD profit slips despite strong loan growth

Net profit at Emirates NBD, Dubai’s biggest bank by assets, fell in the first quarter of 2025 compared to a year ago despite growth in loans and interest income. Tax paid caused the bottom line to decline more than 7 percent to AED6.2 billion ($1.7 billion) for the first three months, from AED6.7 billion a […]

Khalid bin Kalban, vice chairman and CEO of Dubai Investments, said 'the year ahead is very positive'

Dubai Investments plans IPO before year end, says CEO

Dubai Investments is preparing to sell shares in four subsidiaries to the public and may list one of them before the year end, its CEO Khalid bin Kalban has told AGBI. The government-backed company manages AED22.1 billion ($6 billion) of assets in the UAE and beyond, in sectors including real estate, construction and building materials […]

The influencer academy course set up by Dubai’s tourism authority and content agency Beautiful Destinations will last 3 months

Dubai doubles down on social media with ‘influencer academy’

Sunsets, skyscrapers, shopping sprees. Type #Dubai into any social media platform and you will find thousands of them. Whether they’re promotional films or holiday snaps, the quality and reach of these images can vary widely. Now Dubai’s tourism authority is setting up an “influencer academy” to teach aspiring digital creators how to make the most […]

Dubai's growing population is aiding the growth of the emirate's banking, real estate and telecom sectors

Population burst bolsters Dubai’s listed companies

Listed companies in Dubai were on average the most profitable last year among the Gulf exchanges as the emirate’s banking, real estate and telecom sectors benefited from its expanding population. Net profit at Dubai’s listed companies totalled $25.4 billion, up 16 percent compared with the year before, according to a report by Kuwaiti asset manager […]