Skip to content Skip to Search
Skip navigation

Dubai

Union Properties' projects include Dubai MotorCity

Union Properties issues final notice to former chairman

Dubai developer Union Properties has issued a final notice to former chairman Khalifa Al Hammadi, his family members and another unnamed person. It accuses them of defaulting on a multi-million dollar settlement agreement. The settlement deal was announced at the company’s annual general meeting last year and involved payments totalling AED620 million ($163 million). Under […]

Donald Trump draws crowds on the campaign trail in Conway, South Carolina; meanwhile his brand is a bonus in the Gulf

Trump still has ‘big pull’ for $2m branded villas in Oman

Donald Trump may be facing criminal investigations in the US, but the 45th president’s brand continues to wield substantial influence in the Gulf. Last week there were more than 100 expressions of interest in a launch of 20 Trump-branded villas in Oman, within 24 hours, according to the project’s developer. “Trump as a brand still […]

Joby Aviation's electric air taxi is displayed at the World Governments Summit in Dubai

Dubai to have flying taxi services by early 2025

New York Stock Exchange-listed Joby Aviation plans to soft launch air taxi services in Dubai by early 2025. The vertical take-off and landing (VTOL) aircraft maker signed an agreement with Dubai’s Road and Transport Authority (RTA), which gives it the exclusive right to operate air taxis in the emirate for six years The operation of […]

Aldar, which has its headquarters in Abu Dhabi, has expansion plans in Dubai and beyond

Abu Dhabi’s Aldar has big plans for projects in Dubai

Aldar Properties, Abu Dhabi’s largest developer, plans to launch more projects in neighbouring Dubai this year. Speaking at a press conference on Friday, Aldar’s chief finance and sustainability officer Faisal Falaknaz said the Abu Dhabi-listed developer is on track to launch its second master plan in Dubai in the second quarter of this year. The […]

Taking off: Emirates NBD ranked above all other businesses that have declared their 2023 dividends

Emirates NBD tops Gulf dividend yield rankings 

Emirates NBD, Dubai’s largest bank, has so far topped the Gulf list of dividend yield pay-outs awarded to shareholders in 2023, Refinitiv data shows. The government-controlled lender, whose shares are up 27 percent in the past 12 months, provides a dividend yield of 6.9 percent based on its closing stock price of February 8. The […]

The GCC and Menat continued to account for half of Aramex revenue and gross profit in Q4 2023

Aramex Q4 2023 profit more than doubles to $21m

Dubai-listed logistics company Aramex said net profit more than doubled to AED 76.78 million ($20.90 million) in the fourth quarter of 2023 from AED33.86 million a year ago. The company reported a marginal one percent year-on-year decline in Q4 2023 revenue to AED1.52 billion, despite challenging market conditions and currency fluctuations. “Q4 2023 has proven to be exceptional, marked by record […]

shared rental Dubai apartment

Hope at last for Dubai expats seeking a shared rental home

Shared rental accommodation for expats in Dubai, something previously difficult to offer because of rules against subletting, is being developed by a company called Co-Living Legends, working with developers and landlords. Co-Living Legends was set up in 2021 to help female expats find house-share rental options in Dubai.  House sharing is well established in markets […]

Emaar Development waterfront high-rises

Emaar Development profit rises 74% to $1.8bn in 2023

Emaar Development, a wholly owned subsidiary of Dubai’s Emaar Properties, reported that net profit surged 74 percent year on year to AED6.6 billion ($1.8 billion) last year, propelled by 27 new project launches across Dubai. Property sales increased 22 percent year on year to AED37.4 billion. The developer’s sales backlog stands at AED57.1 billion, which […]

Emirates basketball NBA cup

Emirates airline signs big US basketball sponsorship deal

Emirates, the Dubai airline, has signed a sponsorship deal with the National Basketball Association in the United States that will see the NBA’s in-season tournament renamed the Emirates NBA Cup. Emirates will become the association’s official airline partner and referees’ kits will feature the airline’s logo. The airline’s patch will also be featured on the […]

Dubai Aerospace

Dubai Aerospace turns profit after Aeroflot settlement

The aircraft leasing company Dubai Aerospace Enterprise (DAE) turned profitable in 2023, as it received a settlement of $118.3 million for seven aircraft leased to Russia’s Aeroflot airline. The company reported a net profit of $350.6 million for 2023, a turnaround from a loss of $279.3 million a year ago. Revenue rose 16 percent to […]

Total transactions in Dubai reached a new high of 1.6 million, rising 16.9 percent annually, across various real estate activities

Dubai real estate deals rise to $173bn in 2023

Dubai recorded 166,400 real estate transactions valued at AED634 billion ($172.61 billion) in 2023, according to official Dubai Land Department (DLD) data. Real estate investments grew 55 percent year on year to AED412 billion, propelled by 113,655 investors, including 71,002 new entrants, marking a 20 percent rise year on year, the UAE state-run Wam news […]

Dubai Taxi vehicles in front of Dubai Global Village. Taxis and limousines completed 46 million trips, up 8% year on year

Increased staffing drives up Dubai Taxi profits

Profits at Dubai Taxi Corporation rose 54 percent in 2023, which it attributes to an increase in its driving staff. The Dubai Financial Market-listed company reported revenues of AED1.95 billion ($532 million) for the 12-month period, a year-on-year increase of 11 percent. It resulted in a net profit of AED345 million and an 18 percent […]

Dubai real estate bubble

Dubai real estate ‘hot’ but no bubble fears, say experts

Dubai’s real estate market is running “a bit hot”, but it is not heading towards a bubble or another catastrophic crash, experts say. Residential sales prices in the emirate increased 20 percent in 2023, while city-wide rents grew 9 percent higher, according to the latest research from Cushman & Wakefield Core. Although Dubai remains more […]

Healthcare providers are struggling in a crowded market and facing rising costs a concerned doctor looks at a chart hospitals Dubai hospitals

Dubai hospitals are ailing in saturated healthcare market 

The general healthcare sector in Dubai is buckling under saturation, with weaker operators shutting down or battling financial woes, Dr Azad Moopen, the founder and chairman of Aster DM Healthcare, told AGBI. The healthcare sector in the emirate faces a challenging economic climate, marked by stubborn inflation, high interest rates and slow growth. The introduction […]

Arsenal's Declan Rice in action. Dubai real estate developer Sobha Realty has secured the naming rights for Arsenal's training ground

Sobha Realty strikes sponsorship deal with Arsenal

Dubai real estate developer Sobha Realty has secured the naming rights for the training ground of English Premier League football club Arsenal. Arsenal’s facility in Hertfordshire will be known as the Sobha Realty Training Centre. It is the first time the naming rights have been sold. The deal is part of Sobha’s plan to expand […]