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The Dubai family office of billionnaire Aliko Dangote will focus on global investments to expand the Dangote Group's’s portfolio beyond industrials

Africa’s richest man to open Dubai family office

Aliko Dangote, Africa’s wealthiest man with a net worth of $13 billion, is the latest high net worth individual to establish a family office in Dubai. The family office will focus on global investments to expand the Dangote Group’s portfolio beyond industrials, Bloomberg reported, quoting Dangote. The office will also explore co-investment opportunities with families, […]

Santander DIFC

Santander is latest heavyweight to open in DIFC

The private banking arm of Santander in Spain has become the latest global financial institution to open an office in the Dubai International Financial Centre. It will be followed into the UAE by the New York private equity firm General Atlantic, which received preliminary approval on Tuesday to set up shop at Abu Dhabi Global […]

Gulf London property Staple Inn

Gulf investors put $100m into London property fund

Gulf investors have given $100 million to a shariah-compliant fund run by the alternative asset manager Rasmala Investment Bank in Dubai to spend on the London residential property market. Adnan Adil, an investment director at the bank, told Citywire that he has seen interest from Gulf investors already well acquainted with real estate in London […]

The DEC expansion aims to triple the economic contribution of Dubai’s Mice sector to AED54 billion annually by 2033

Dubai allocates $2.7bn to expand Exhibition Centre

The Dubai government has approved an AED10 billion ($2.72 billion) expansion of the Dubai Exhibition Centre (DEC) at Expo City to strengthen its position in the multi-billion-dollar regional events and exhibition sector. The expansion, which will take place in three phases, will make DEC the region’s largest indoor exhibition and events destination, the UAE state-run […]

Dnata provides ground handling and cargo services, as well as catering, ramping and more

Dnata is 65, but its globetrotting is just getting started

Dnata began life 65 years ago as a small travel agency in Dubai. Today it is the airport services arm of Emirates Group, operating in over 30 countries and planning to expand to even more. This month, it signed ground handling contracts with Royal Jordanian Airlines at John F Kennedy airport in New York and […]

Emaar Misr's Alamein hotel in Marassi

Dubai’s Emaar pledges Egypt development worth $1 billion

Property developer Emaar plans to invest $1 billion in Egypt in the next 12 months, according to a senior executive. Mohamed Alabbar, the Dubai-based company’s founder, shared the news in an interview with an Arabic-language news outlet, saying the new injection of funds by Egyptian affiliate Emaar Misr Development would build on about $20 billion […]

Ahmed bin Sulayem told AGBI that AI impacts every sector within DMCC Video length: 03:30

Dubai AI leaders call for global regulations

Digital economy leaders in the UAE called for the global unification of artificial intelligence regulations at the launch of DMCC’s AI Centre last week.  Dubai issued a universal blueprint for AI earlier this year, but a unified framework governing the growing AI technology sector is still lacking.  “How can you disregard the artificial intelligence sector […]

Dubai's air taxis will operate from four 'vertiports', carrying a pilot and four passengers at 320km per hour

Dubai to launch air taxi service in 2026

Dubai is planning to launch an air taxi service in 2026, using Joby Aviation’s fully electric vehicles. In February, Joby Aviation, listed on the New York Stock Exchange, announced plans to soft-launch air taxi services in Dubai by early 2025. The air taxis are designed to carry a pilot and four passengers at 320km per […]

Lionel Messi poses for a photo at Dubai Expo 2020. He and his Argentina teammates will soon be appearing on 'giant billboard on Sheikh Zayed Road' to advertise property

Project stardust: why Dubai developers still want celeb tie-ins

Lionel Messi, Rohit Sharma and Chris Hemsworth are just some of the famous faces who have promoted UAE real estate in recent years. Superstar sportsmen and Hollywood heroes do not come cheap, but are they really a good investment for developers or just an excuse for the CEO to get a selfie?  Many industry observers […]

Brands For Less has 117 stores across the GCC and is now targetting Singapore for its next opening

Dubai discount retailer BFL looks east to double store numbers

Retail chain Brands For Less has revealed plans to almost double the number of BFL stores it operates in the next five years as it looks to countries such as Singapore for expansion. The Dubai-based discount retailer is flush with cash from last month’s sale of a $360 million stake to the US giant TJX […]

A water taxi in Dubai's Business Bay, where off-plan real estate prices surged in 2023

Prices stabilise in Dubai’s off-plan market as supply grows

Prices for off-plan real estate in Dubai are stabilising following a spike in 2023 as developers bring more projects to the market. Property prices for off-plan purchases in areas such as Dubai Hills, Business Bay and Jumeirah Village Circle increased by as much as 30 percent in 2023 compared to the previous year. In August, […]

Mashreq Bank sells Neopay

Mashreq sells majority stake in NeoBank in $385m deal

Mashreq Bank has sold a 65 percent stake in its subsidiary IDFAA Payments, more commonly known as NeoPay, in a deal worth $385 million. The Dubai-listed lender sold the stake to Bahrain-headquartered alternative asset manager Arcapita Group Holdings Limited and Turkish fintech company Dgpays SARL, according to a bourse filing. NewsletterGet the Best of AGBI […]

Around 3.5 million bottles of Champagne were shipped to the Gulf states in 2023, an increase of about 40 percent

Champagne shipments to the Gulf slow but still flowing

The growth in champagne shipments to the Gulf has slowed in recent years but the market is still one of the strongest in the world, bucking a global trend for declining sales. Around 3.5 million bottles of champagne were shipped to the Gulf states in 2023, an increase of about 40 percent, according to data […]