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Dubai Science Park

Dubai Science Park chief reveals ambitious plans for 20% growth

Dubai Science Park is forecasting a 20 percent increase in the number of entities operating in the free zone, according to a senior executive. Innovative Life Sciences Lab announced this week it had opened a genomics testing lab there, with plans to initially create over 100 jobs, increasing its headcount by 200 percent. It joins […]

Dubai Holding will support Abu Dhabi' Aldar Properties as it takes responsibility for residential development

UAE master developers partner for 9,000 Dubai homes

UAE mast developers Aldar Properties and Dubai Holding have formed a partnership to develop 9,000 residential units across prime locations in Dubai, with the first phase of launches planned to start this year. The joint venture will oversee the development of new communities in three locations along the E311 and E611 corridors – in the […]

Blacklane operates in Dubai, Abu Dhabi, Dammam, Doha, Jeddah, Mecca, Muscat and Riyadh

Chauffeur firm gains UAE investor for premium Gulf service

Chauffeur operator Blacklane has attracted investment from Dubai conglomerate Gargash Group, as it aims to offer Gulf passengers a more luxurious alternative to ride-hailing apps such as Uber and Careem. Founded in Berlin in 2011, Blacklane is active in around 50 countries. It launched in the Gulf in 2016 and currently operates in Dubai, Abu […]

Sustainable Dubai

Sustainable towers ready for lift-off with a little help from Nasa

A real estate developer in Dubai is introducing Nasa technology to its latest project as it takes sustainable property to a new dimension. Fakhruddin Properties aims to provide homeowners with the cleanest air in Dubai when it launches the AED700 million ($190.5 million) Maimoon Gardens, a twin-tower development in the Jumeirah Village Circle. Despite completion […]

Ecolodges Saudi

Nature calls as Dubai ecolodge startup spreads its wings

While hospitality businesses were suffering during the coronavirus pandemic, a Dubai-based startup was plotting ambitious expansion. Envi, a luxury experiential ecolodge brand and management company, was launched in 2021, just as the tourism industry had lost $935 billion in revenue, according to figures from the World Travel and Tourism Council. “We saw how many hotels […]

shop, jewellery

Indians buy homemade jewellery for less in Dubai

Indians are travelling to Dubai to purchase jewellery made in their home country as it costs less in the emirates. Import duties, previously at 5 percent, were waived for jewellery exported from India to the UAE under the Comprehensive Economic Partnership Agreement (Cepa) signed between the two nations last year. “The prices are better,” said […]

Global Partners BTR property Dubai

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 […]

HyperSpace

Dubai startup aims to disrupt Mena theme park sector

Traditional, ride-based theme parks are being challenged by Dubai-based startup HyperSpace’s “physical parks for a digital world”, including AYA and House of Hype.  HyperSpace opened the 40,000sq ft AYA, a digitally immersive experience park with interactive gardens, observatories and other spaces in Dubai’s Wafi Mall in December, bringing a metaverse dimension to the emirate’s entertainment […]

UAE capital markets

UAE capital markets set for ‘significant growth’, says regulator

If 2022 was a year of recovery from the economic effects of the coronavirus pandemic, then 2023 will witness “significant growth” in the UAE capital markets. Mohamed Khalifa Al Hadari, deputy CEO of the Emirates Securities and Commodities Authority, told the inaugural Mena IPO Summit in Dubai that there are 11 initial public offerings (IPOs) […]

Swiss UAE exports

Swiss Group opens Zurich office to boost trade with UAE

Swiss Group, the Dubai-based business consultancy, is opening an office in Zurich this month to help Swiss companies and entrepreneurs do business in the UAE.  The UAE’s $8.74 billion of exports to Switzerland in 2021 make it the European country’s ninth largest import partner, according to data from the International Monetary Fund. The UAE is […]

Perihan Abouzeid, founder of PeriCare nursing pods

Perihan Abouzeid set up PeriCare, a Dubai-based company focused on building products that serve the needs of working mothers and mothers on the go. It became a revenue-generating startup within the first month of operations and has featured at major events like Gitex and Dubai Design Week. What does your company do? Our flagship product […]

Glove, Clothing, Portrait

Diamonds (from a lab) are the Gulf’s best friend

Basma Chaieri began her business after watching the season two finale of Netflix’s hit series Explained. The November 2019 episode, which explored the growing popularity of lab-grown diamonds, prompted the Dubai resident to quit her travel job and enrol in gemology school to study the trade. “I thought why would anyone buy a real diamond […]

IPOs, Mena, Stock, Exchange

Rising global interest sets Dubai IPOs on course for strong 2023

Global stock markets may have suffered heavy losses but bourses in the Middle East and North Africa are thriving, recording 42 listings in 2022 and with a healthy pipeline of activity planned for the year ahead.  According to Bloomberg data, Mena initial public offerings (IPOs) raised over $18 billion in 2022. This represents 47 percent […]

Amazon is partnering with Lulu Group to deliver an online grocery offering for customers in the UAE

E-commerce delivers the goods for region’s retailers

A Dubai free zone has set up an e-commerce platform to help drive growth in the Mena market, as new data reveals 91 percent of regional consumers bought products online in the past year. One in five shoppers said they purchased more online in the past 12 months compared to the year before, with fashion […]

Tenants hit Dubai’s suburbs as prime property rents soar

Rising property rents in prime areas of Dubai are increasingly causing tenants to move to more affordable suburban communities, leading to a growing demand in the mid-market residential segment. Dubai rents increased by an average of 36 percent in 2022, according to a new report by real estate firm Betterhomes. Average apartment rents increased by […]

Dubai Mall owner Mohamed Alabbar attended the opening of Peet's Coffee flagship at the mall in his capacity as chairman of Americana, franchisee of the coffee chain

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 […]

Dubai Peal render

Momentum gathers on Dubai mega-projects

Rising property prices and demand from wealthy buyers is encouraging Dubai to accelerate plans for several high profile projects that could represent the biggest real estate investment opportunities in the emirate in years.  Among the key opportunities are fresh plans for a 300-acre plot once intended to house a 22 million square foot mega-project known […]

A new "phygital" store opened in Dubai in September, which is where shoppers get both a physical and virtual experience

Dubai customs law will ‘level playing field’ for local retailers

Dubai’s decision to lower the tax threshold for goods imported from overseas has been hailed by local retailers. Industry insiders see it as a positive step to protect businesses from global ecommerce giants and say it is already having a positive effect. Under Dubai Customs Notice No. 5 of 2022, which was announced in June […]