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Tabby CEO says one concern about an IPO is that international investors could get 'a sliver of supply'

Tabby and Kitopi plan IPOs but raise economic concerns

Fintech company Tabby and cloud kitchen operator Kitopi are preparing to go public. However they have warned about potentially limited share allocations to international investors and Gulf economic risks linked to oil prices being at a four-year low. Dubai-based Tabby, a regional buy-now-pay-later platform, said global funds are reluctant to spend the time and energy […]

Ripple CEO Brad Garlinghouse. The company has had an office in Dubai since 2020

Crypto payment provider Ripple plans UAE growth

Cryptocurrency company Ripple Labs has outlined plans to expand in the UAE after winning approval to operate in Dubai. Based in San Francisco, Ripple was the first blockchain payments provider to be licensed by the Dubai Financial Services Authority (DFSA) in March, the company said in a statement. One in five Ripple customers is based […]

Olaia artist's impression

Luxury Olaia Residences launches on Palm Jumeirah

Dubai developer Gulf House Real Estate has launched Olaia Residences, its first luxury development, for sale in the heart of Palm Jumeirah. The upscale residential project is planned to open in 2027 and will consist of one-to-three-bedroom apartments and three-to-five-bedroom duplexes.  State-of-the-art amenities will include indoor and rooftop pools, a wellness centre, a mini-golf course […]

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People walk towards Bluewaters Island, one of the developments in Dubai Residential REIT's $5.7bn portfolio

Dubai Holding to list real estate investment trust

Dubai Holding is to list its residential real estate investment trust (REIT), shrugging off local investor scepticism towards the structures and becoming the first initial public offering (IPO) on the Dubai stock exchange this year. The investment conglomerate owned by Sheikh Muhammed bin Rashid Al Maktoum, the emirate’s ruler, said on Monday that it will […]

A rendering of One at Palm Jumeirah. Omniyat's sukuk will be listed and traded in Dubai and London

Omniyat raises $500m to fund sustainable projects

Dubai real estate developer Omniyat has raised $500 million to fund its sustainable developments. The order book of the inaugural three-year green sukuk was oversubscribed 3.6 times, reaching $1.8 billion. The sukuk will be listed and traded on Nasdaq Dubai and the London Stock Exchange’s international securities market.  The pricing details were not given. Sukuk […]

UAE hotel revenue grew by a modest 3 percent to AED45 billion in 2024, suggesting hoteliers are absorbing increasing operational costs

UAE hotels absorb rising costs at expense of profit

Many UAE hoteliers are reluctant to raise prices to compensate for rising operational costs, even as intensifying global competition and geopolitical volatility tighten profit margins. According to data from CBRE Middle East, growth in UAE hotel revenue per available room (RevPAR) has slowed over the last two years, from 6 percent in 2023 to 3 […]

Adult, Male, Man

Tecom profit rises on higher revenue and demand

Tecom Group, a Dubai-based developer and operator of business parks and free zones, reported an increase in net profit for the first quarter, driven by record demand in the emirate’s commercial property sector. Net profit grew by 23 percent year-on-year to AED361 million ($98 million) during the three months to March led by “improved collections […]

Greece aims to attract more visitors throughout the year, signing a deal with Emirates that includes a codeshare with Aegean Airlines to expand travel options

Emirates signs agreement with Greek air carrier Aegean

Greece has signed an outline deal with Dubai’s Emirates that includes a codeshare agreement with Greek air carrier Aegean, the country’s Tourism Ministry said on Friday, as it seeks to attract more tourists all year round. The codeshare agreement will expand travellers’ access to popular destinations, including the islands of Santorini, Mykonos and Rhodes, the […]

Dubai International Financial Centre, home of Dubai Financial Market

DFM first-quarter profit jumps on higher trading activity

Profit at Dubai Financial Market surged more than 40 percent year on year in the first quarter, driven by the highest trading activity in more than a decade, the company said. Net profit before tax rose to AED135 million ($37 million) in the three months to March 31, compared with AED95.6 million in the same […]

Runway maintenance at DXB. The vast site will be up for redevelopment once Dubai's new airport opens

Dubai’s DXB site to become prime real estate opportunity

Dubai International Airport will become one of the emirate’s most valuable real estate assets once operations shift to the new Dubai World Central airport within the next decade. The DXB site, located in the densely developed Al Garhoud district and spanning 2,900 hectares (7,200 acres), will eventually cease operations as Dubai consolidates air traffic at […]

Amira Sajwani, managing director of sales and development of DAMAC Properties with Jason Gannon, president and COO of Chelsea Football Club

Dubai scores football-themed homes in Chelsea Residences

Chelsea fans finally have something to celebrate: Dubai’s first football-themed development will wear the blue of the famous west London club. As part of a new partnership between Chelsea FC and Damac Properties, the Dubai-based property developer will build a Chelsea-themed real estate project in the emirate. Chelsea Residences “will be built with Chelsea Football […]

Despite a decrease in first-quarter profits, Mashreqbank's shares are up 11% this year, as the UAE lender navigates tighter margins and investment in digital growth

Mashreq Q1 profit down but shares see gains

Tighter net interest margins and increased expenses have hit first quarter profits at Mashreq, the fifth-largest lender in the UAE by assets. The Dubai-listed bank said net profit after tax decreased 12 percent annually in the three months to March to AED1.8 billion ($490 million).  Mashreq’s shares, which closed at AED242 on Wednesday, are nonetheless […]

Eric Trump was in Dubai representing the Trump Organizaton to launch a new luxury tower in partnership with real estate developer Dar Global

Eric Trump: the Gulf is dependent on a strong America

The Gulf region is dependent on a strong United States and wants security so local economies can flourish, the US president’s son Eric Trump said in an interview with Reuters. In Dubai as an executive of the president’s family business, the Trump Organization – which launched a new tower in the city in partnership with […]

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 […]