Analysis Infrastructure Engineers measure up Dubai’s $8bn flood defence plan After April’s once-in-a-century storm that put swaths of Dubai under water, Sheikh Mohammed bin Rashid Al Maktoum has cleared the way for a AED30 billion ($8 billion) stormwater management upgrade. The ambitious expansion of the emirate’s drainage system will provide a sevenfold increase in its capacity to handle rainwater, to more than 20 million cubic […] June 27, 2024
Opinion Tourism How many more hotel rooms can the Gulf take? Plenty, it seems Normal standards do not apply in Dubai, which has one of the most robust hotel markets in the world June 25, 2024
Analysis Construction Construction is ‘cheaper in Dubai than Riyadh or Doha’ Dubai is only the third most expensive construction market in the Middle East after Riyadh and Doha, research has found. A real estate boom led by the leisure, hospitality and sports sectors, combined with a “distinct shortage of skilled labour”, have driven up construction costs in the Saudi capital to an average of $2,593 per […] June 21, 2024
Analysis Economy Wealthy migrants to UAE boost luxuries but stir inflation The UAE is likely to attract a new surge of ultra-rich migrants, lured by low tax rates, high-privacy settings and a luxurious lifestyle, at a time of global geopolitical upheaval and heightened anti-money laundering measures in developed countries. But, while the wave of wealth is likely to stimulate specialised sectors of the economy, the arrivals […] June 20, 2024
Banking and Finance UAE increases gold reserves with growth set to continue The UAE’s gold reserves reached almost AED20 billion ($5.5 billion) at the end of March, rising 12.6 percent year on year, with expectations that the growth will continue into the rest of the year. The Central Bank of the UAE (CBUAE) said the Gulf state’s reserves of the precious metal have risen considerably over the […] June 20, 2024
Economy Cairo and Istanbul feel biggest cost of living squeeze Dubai has become the most expensive city in the Middle East for expatriate workers, while Cairo and Istanbul were among the cities that saw the biggest rise in the cost of living this year, as soaring inflation impacted wages. Dubai, the UAE’s largest city, saw rental prices rise by about a fifth in the last […] June 18, 2024
Real Estate Construction begins at Expo City Dubai site Construction has begun on the first residential properties at Expo City Dubai, part of a mixed-use master plan to repurpose the legacy site after the world fair came to a close two years ago. Master developer Expo City Dubai announced last week that it has awarded four key contracts for its Mangrove Residences. UAE-based USF […] June 17, 2024
Retail Chalhoub Group in venture with Italian luxury brand Luxury distributor Chalhoub Group has entered into a joint venture with Italian fashion conglomerate OTB Group to expand the brand’s footprint in the Gulf. OTB (which stands for Only The Brave) owns the Diesel, Jil Sander, Maison Margiela, Marni and Viktor&Rolf brands, the Staff International and Brave Kid companies, and holds a stake in the […] June 17, 2024
Analysis Infrastructure The future of DXB: airport could be turned into a city The $35 billion plan to turn Al Maktoum International into the busiest airport in the world has everyone talking about the remaking of Dubai South. Perhaps a bigger challenge is the redevelopment of the city’s main airport – Dubai International, or DXB. DXB is near some of the city’s most densely populated neighbourhoods and the […] June 16, 2024
Opinion Transport The Rolls-Royce Spectre: saving the planet, ostentatiously The new elite EV is a jaw-dropping phenomenon even on Dubai's blingy roads June 14, 2024
Aviation US fines Emirates for operating in prohibited airspace Emirates has been fined $1.5 million by the US Transportation Department for operating flights carrying JetBlue Airways’ JBLU.O designator code in prohibited airspace. The transportation department said that between December 2021 and August 2022, Emirates operated a significant number of flights carrying the JetBlue Airways code between the United Arab Emirates and the United States […] June 14, 2024
Media & Advertising Al Habtoor scraps Lebanon TV channel after physical threats Dubai’s Al Habtoor Group has cancelled plans to launch a TV channel from Lebanon after physical threats were made to the founder and staff. Chairman and founder Khalaf Ahmad Al Habtoor said that the “lack of necessary security stability for investment … has left us no choice but to step back from this initiative and […] June 12, 2024
Finance Drake & Scull wins $10m appeal in Dubai court Drake & Scull International (DSI) has won an appeal to receive compensation worth AED36.7 million ($9.99 million) from a major company in Dubai. The compensation includes bank guarantees, the Dubai Financial Market-listed construction company said on Thursday. In addition, it will receive fees, interest and expenses in the case as per the judgement by Dubai […] June 7, 2024
Analysis Construction Gulf construction sector rethinks contract terms as costs rise The Gulf’s construction industry is rethinking the developer-contractor relationship, and procurement and supply chain management, to stay ahead of rising prices of materials and transport bottlenecks as a result of geopolitical volatility. “We are in a part of the world that is very conducive to finding alternatives,” Imad Itani, head of innovation at the Dubai […] June 7, 2024
Aviation Airline passengers to get takeaways delivered onboard Airline passengers will soon be able to pre-order meals for their journey from a delivery app, a leading industry executive has predicted. The Dubai-based global air and travel services provider Dnata launched a trial of a pre-flight order and delivery scheme in the Netherlands four years ago. Robin Padgett, divisional senior vice-president of the company’s […] June 5, 2024
Aviation Boeing delays cost Emirates $3bn Delays in delivering new orders by the US aircraft maker Boeing have cost Emirates $3 billion, the airline’s president Tim Clark has revealed. Emirates has an order for 205 777X jets, which were due to be delivered four years ago. The plane has been delayed by problems including hold-ups in certification. As it waits for […] June 4, 2024
Leisure & Hospitality Dubai hotel developer pins success on green credentials As protests against mass tourism sweep across Europe, the head of a Dubai-based developer with business in Ibiza said he is confident his company’s sustainability credentials can address such concerns. Kabir Mulchandani, founder and chairman of Five Holdings, believes that mounting apprehension around increasing visitor flows to the world’s most sought-after destinations is rooted in […] June 4, 2024
Aviation Sustainability chief calls for tax on oil companies Oil companies should be taxed and renewable alternatives incentivised in order to meet ambitious sustainability targets in the aviation industry, according to the sector’s industry trade body. “It’s too easy today to make money by drilling for oil,” said Dr Marie Owens Thomsen, senior vice president for sustainability and chief economist at the International Air […] June 4, 2024
Aviation Groundwork to begin soon on Dubai’s $35bn airport Work will begin shortly on the world’s largest passenger terminal in Dubai. Major groundwork at Al Maktoum International will start this month, Emirates president Sir Tim Clark said. The first phase of the AED128 billion ($34.85 billion) project, slated to be completed within a decade, will be able to accommodate 150 million passengers annually, the […] June 4, 2024
Retail Emaar starts work on $408m Dubai Mall expansion Emaar Properties, Dubai’s largest developer, has commenced work on expanding Dubai Mall at a cost of AED1.5 billion ($408 million). The expansion will include 240 new luxury stores and food and beverage outlets. The contractor is already mobilising on-site, the Dubai-listed developer said in a statement. However, no details were given on when work would […] June 4, 2024
