Skip to content Skip to Search
Skip navigation

Dubai

A jogger checks his smartwatch. Revibe sells watches, phones and other devices

UAE tech refurb startup raises $7m from investors

A UAE company that specialises in refurbishing electronics is targeting new markets after raising $7 million in Series A funding.  Revibe, which offers refurbished laptops, smartphones and other devices, has now closed its funding round, which was co-led by the French tech venture capital companies ISAI and Resonance.  Also included in the round were the […]

Car park in Dubai. Parkin operates 197,000 spaces in the emirate

Dubai’s Parkin signs tech deal with Saudi group BATIC

Parkin, the largest parking management group in Dubai, aims to expand into Saudi Arabia after signing an agreement with the Riyadh-based conglomerate BATIC. The proposed collaboration with BATIC’s Smart City Solutions subsidiary will focus on technologies to improve traffic flow. It will also enhance the parking experience for Saudi motorists, the companies said in a […]

A taxi park in central Kampala. The Dubai International Chamber arranged 308 meetings in the city for Dubai companies

Dubai companies seek out deals in Uganda

Representatives from 29 Dubai-based private sector companies have been in Uganda on a trade mission to seek investment deals across a range of sectors.  Dubai International Chamber arranged more than 300 business meetings in Kampala between companies from both cities during the first leg of its visit to Uganda and Tanzania. Companies from sectors ranging […]

Modern residential architecture of Dubai Marina, United Arab Emirates

Emaar hikes dividend distribution for 2024

Emaar Properties said on Friday that it would double dividend payouts in 2024 over the previous year. The Dubai-listed property developer will disburse AED 8.8 billion (US$ 2.4 billion), or 100 percent of its share capital, up from AED 4.4 billion (US$ 1.2 billion) in 2023, according to a press release. “At Emaar, our priority […]

Astra Tech managing director Tariq Bin Hendi, right, at Abu Dhabi Finance Week

Astra Tech secures $500m funding for lending platform

Dubai technology company Astra Tech has secured $500 million in financing for its fintech subsidiary, enabling it to further expand its consumer lending platform. Quantix Technology Projects, which in July was the first UAE-based fintech to receive a finance licence from the UAE central bank since 2008, secured the financing from Citi, in what is […]

Renuka Jagtiani, chairperson, Landmark Group, at the launch of the textile recycling facility in Dubai

Landmark Group opens textile recycling unit

Retailer Landmark Group has opened a textile recycling facility at Dubai World Central that will convert clothes into fibre for new garments. The Dubai company launched a takeback programme last year at its Centrepoint and Max Fashion stores, and more recently at Home Centre and Home Box stores.  Clothes are brought to the recycling centre […]

The new brands, including a women's only club called FitnGlam, will be integrated into Arada’s existing wellness division

UAE’s Arada strengthens gym holding

Arada has finalised the purchase of three UAE-based gym brands, bringing its total number of premises operated across the Gulf state to 15. The real estate developer said that the women-only FitnGlam, boutique exercise hub The Platform Studios and recently launched health club Fitcode make its fitness and wellness division, Wellfit, worth more than AED1 […]

Claridge's Hotel. Maybourne also owns the Berkeley, the Connaught and the Emory in London

Qatar-backed owner of Claridge’s to open hotel in Dubai

Maybourne Hotels, the owner of Claridge’s in London, is planning to expand to Dubai, Paris, New York and Miami, its co-chief executive has said.  The company, owned by Qatari royals Sheikh Hamad bin Jassim bin Jaber Al Thani and Sheikh Hamad bin Khalifa Al Thani, owns and operates six hotels – four in London and […]

Drone deliveries have their place but they may not yet be cost effective Video length: 03:19

Drone deliveries all about speed, not profit, says Careem

Drone deliveries across the Middle East are expected to grow significantly over the next decade. However, the commercial viability is up for debate, says a Careem executive. Mohamad Charafeddine, Careem’s vice president of product for data and AI, says that drone deliveries have their value in speed, such as for essential medical products. But the […]

Property app Stake says it is close to acquiring a fully-rented mall and a 140-apartment tower in Riyadh

Property app Stake to launch in Saudi Arabia

A fractional-ownership platform that enables investors to own parcels of real estate for as little as SAR500 ($134) is to launch in Saudi Arabia on December 9.  Based in Dubai, Stake offers investors the opportunity to buy parts of residential and commercial properties.  Fractional property ownership is a rising trend in the global real estate market. […]

A month after floods struck at the end of October, a man walks past damaged cars in Valencia, Spain

Gulf could turn a crisis into opportunity with catastrophe bonds

Torrential rains, flash floods, cars adrift in streets turned into rivers – these are scenes often seen these days, from Malaysia to Valencia. They are also becoming more common in the Gulf. Flooding in April 2024 in the UAE, for example, killed five people and cost $1.8-$2.3 billion in property damage, according to Gallagher Re […]

Alcohol tax in Dubai was suspended in 2023

Dubai to reintroduce 30% alcohol tax

Dubai will reintroduce the 30 percent sales tax on alcohol in January, according to an email sent by a local alcohol distributor to venues in the city.  The correspondence sent by MMI, which also operates off licences in the city, said: “Please note, Dubai Government have informed us the 30 percent municipality tax on alcoholic […]

Dubai Duty Free said that the sales performance was strong in November despite tough trading conditions

Perfume sales propel Dubai Duty Free to $2bn 2024 target

Dubai Duty Free (DDF) recorded sales of AED7.13 billion ($1.94 billion) in the first 11 months of 2024, as it closes in on the $2 billion annual target. The airport retailer reported sales of $205.7 million last month, marking the fifth-best month ever, propelled mainly by perfume sales, the UAE state-run Wam news agency reported. […]

A data centre technician. Amazon, Google and Microsoft are also developing high-tech infrastructure in Southeast Asia

Damac to spend $3bn on data centres in Southeast Asia

Edgnex, the data centre subsidiary of Dubai’s Damac Group, is planning to invest $3 billion in sites across Southeast Asia over the next three to five years.  The investment is part of a $7 billion digital infrastructure strategy that aims to meet rising demand for artificial intelligence and cloud computing, Danish Nayar, Damac’s senior vice-president […]

City, Architecture, Building

Aldar acquires unfinished commercial tower in DIFC

Abu Dhabi’s largest developer, Aldar Properties, has acquired an unfinished commercial tower in the Dubai International Financial Centre (DIFC) for AED2.3 billion ($626 million), as it continues its expansion into its neighbouring emirate.  The tower, bought from H&H Development, has 40 floors of commercial and retail space and is due for completion in 2028.  It is […]

A Talabat courier in Cairo. The Delivery Hero subsidiary also operates in Jordan, Iraq and all six GCC states

Mena delivery app Talabat outperforms its German parent

When Talabat makes its debut on Dubai Financial Market next week, the food delivery app will be worth nearly as much as its parent company despite providing only about a quarter of Delivery Hero’s revenue. This might suggest Talabat’s initial public offering (IPO) was overpriced but a closer look at both companies’ earnings shows otherwise […]