Analysis Tourism The small surprising wonders of Ajman and Umm Al Quwain Last December Ajman ruler Sheikh Humaid bin Rashid Al Nuaimi approved the emirate’s budget for 2023. The AED2.92 billion ($795 million) in spending plans marked a 21 percent year-on-year increase, and the largest in the emirate’s history. And on UAE National Day last year, Abdullah Ahmed Al Hamrani, director general of the Ajman Department of […] February 8, 2023
Analysis Real Estate In cultural capital Sharjah, selling homes is an art form Sharjah is investing big in culture, building up its education and arts offerings to tempt Emiratis and others to buy into a lifestyle said to be “unmatched” elsewhere in the UAE. The emirate “is referred to as the cultural capital of the Middle East”, said Professor Peter Barlow, executive director of the Sharjah Performing Arts […] February 8, 2023
Analysis Tourism Ras Al Khaimah: the UAE’s sustainable tourism destination Early in 2022 US hotel operator Wynn Resorts announced it was partnering with the Ras Al Khaimah property developer Marjan and RAK Hospitality Holding to build a multibillion dollar integrated luxury resort in the northern emirate. Critically, this includes a gaming area, a first for the UAE, which inevitably captured the headlines. But RAK isn’t intent […] February 6, 2023
Energy Adnoc Gas IPO tipped to break record for Abu Dhabi exchange Adnoc’s listing of its gas business could take place as soon as this month – and become the largest IPO on the Abu Dhabi Securities Exchange, according to reports. The state-owned oil giant is looking at a valuation of at least $50 billion for Adnoc Gas, two sources close to the matter have told Reuters. […] February 3, 2023
Real Estate Arada completes over 1,600 new homes in Sharjah megaproject UAE-based developer Arada has completed 1,621 apartments across 14 buildings in East Village, the third residential phase in its AED24 billion Sharjah megaproject Aljada. Featuring 2,000 units in total, East Village is targeted at the younger generation and comprises 16 apartment blocks. Home inspections will shortly begin at the 968 homes in the Riff 1-3 […] February 1, 2023
Analysis Mena tech firms can plug skills gap by scooping up global talent Technology companies in the Middle East are in prime position to attract top talent from around the world as some of Silicon Valley’s biggest names make massive job cuts, according to recruitment consultants. Google’s parent company Alphabet, Microsoft and Amazon have all unveiled large-scale redundancy programmes since the start of January. About 40,000 jobs will […] January 24, 2023
Sustainability UAE plans to build its first electric vehicle battery recycling facility Beeah Recycling has signed an agreement with the UAE Ministry of Energy and Infrastructure and the American University of Sharjah with a view to setting up the country’s first recycling plant for end-of-life batteries from electric vehicles (EVs). The facility will be added to Beeah Recycling’s integrated waste management complex, which currently has 10 specialised […] January 20, 2023
Sustainability Adnoc calls on Earthshot Prize winner for decarbonisation pilot Abu Dhabi National Oil Company (Adnoc) announced on Tuesday a partnership to pilot technology that permanently mineralises carbon dioxide within rock formations found in the emirate of Fujairah. Adnoc is partnering with the Fujairah Natural Resources Corporation, Abu Dhabi Future Energy Company (Masdar) and Oman-based 44.01. The project, announced at the Abu Dhabi Sustainability Week, […] January 17, 2023
Analysis Business of Sport Ronaldo’s signing goes beyond money for Saudi Arabia Cristiano Ronaldo’s move to Al Nassr “is less about money and more about the Saudi Arabian geopolitical economy”, says a leading sports academic. The 37-year-old forward agreed to join the Saudi Pro League last week in a deal that will run until 2025 and is expected to earn him over $200 million a year. It […] January 2, 2023
Analysis Tourism Ras Al Khaimah tourism to take off as global investors see promise Ras Al Khaimah (RAK) is learning lessons from the tourism success story of Dubai and financiers are closely watching the market and are keen to support it, according to a senior banker. “I fully expect the growth in Ras Al Khaimah to explode in the coming years,” said Cyril Lincoln, executive vice president, global head […] December 29, 2022
Economy Sharjah approves 2023 budget with expenditure at $8.8bn Sharjah has approved its general budget for 2023 with total expenditures of nearly AED32.2 billion ($8.77 billion), state-run WAM news agency reported. Expenditures decreased by 12 percent from the 2022 budget, but without affecting the most critical areas, such as employment and economic and social development. Some 35 percent of next year’s budget has been […] December 27, 2022
Analysis ‘Primed for growth’: UAE and Indonesia cement trade ties When Kaesang Pangarep, the son of President Joko Widodo of Indonesia, married this month, the guests included Sheikh Khaled Bin Mohamed Al Nahyan, chairman of the Abu Dhabi Executive Office, representing the UAE’s president, his father Sheikh Mohamed. The invitation highlighted the growing relationship between the UAE and Indonesia, just weeks after the two countries […] December 19, 2022
Construction Arada awards $256m contracts to build 986 new homes in Masaar Sharjah-based real estate developer Arada has awarded two contracts worth AED 939 million ($255.66 million) to build 986 new homes across two residential districts in AED 8 billion Masaar mega project. The first contract, valued at AED 401 million, was awarded to Abu Dhabi-based Pivot Engineering & General Contracting to build 421 villas and townhouses […] December 19, 2022
EXCLUSIVE UAE goes vintage with classic car race and centre for collectors The UAE and supercars have been synonymous for decades, with the very latest luxury models frequently spotted on its roads – but a new industry of classic cars is also gaining speed. This weekend the country plays host to 100 classic cars from around the globe in the first ever UAE edition of Italy’s 1,000-mile […] December 2, 2022
Analysis Development UAE developer picks Albania for ‘Monaco of the Adriatic’ project An Abu Dhabi-based developer is playing a major role in the transformation of Albania from one of the poorest countries in Europe to a modern open market economy by creating a $2.5 billion marina. Thirty-two years after mass demonstrations by students led to the fall of communism in Albania, Eagle Hills Properties has announced the […] December 2, 2022
Real Estate Aldar brings Nobu Hospitality brand to Abu Dhabi island Abu Dhabi’s Aldar Properties has partnered with US-based luxury lifestyle brand Nobu Hospitality to launch a new luxury hotel, branded residences, and a fine dining experience at Mamsha Al Saadiyat, the developer said in a statement. The agreement will see Aldar develop a five-star hotel featuring 165 luxurious rooms and suites, including the rooftop Nobu […] November 29, 2022
Real Estate UAE developer adds residences to RAK tourism sector Abu Dhabi’s Aldar Properties has acquired prime beachfront land on Al Marjan Island in Ras Al Khaimah (RAK) to build its first residential development in the northern emirate. Set to launch in 2023, the development will include 2,000 branded and premium homes on a plot of over 40,000 square metres, plus retail spaces and a […] November 22, 2022
Tourism Las Vegas’s Wynn Resorts confirms Gulf’s first casino in RAK Las Vegas’s Wynn Resorts will build a casino within its hotel complex on Ras Al Khaimah’s Marjan Island, the company’s CEO confirmed in an analysts call this week. Wynn announced plans back in January for the multibillion-dollar resort, which it said would be completed by 2026 and feature more than 1,000 rooms, a shopping mall, […] November 10, 2022
Analysis Sustainability 30 of the most sustainable companies in the Middle East With Cop27 beginning today in Egypt, we focus on 30 businesses tackling the social and environmental challenges that threaten the region Middle Eastern companies large and small are going green as they realise the environmental and commercial potential of being socially conscious. Governments are also focusing on sustainability, placing green projects at the heart of […] November 6, 2022
Analysis Retail Lucid opens first Saudi showroom as regional EV rivalry hots up Lucid Group announced the opening of its first showroom in the Middle East, located in Riyadh, Saudi Arabia, as it looks to get ahead of rivals in the regional push for electric vehicles. The Lucid Studio in the heart of the Saudi capital’s Al Nakheel district will offer a “digitally oriented premium experience”, the company […] October 24, 2022
Analysis Real Estate Dubai tenants jump on property ladder as rents soar Dubai has seen an increase in end-user homeowners as its property market matures and begins to move away from the speculators and flippers of the boom days before 2008. Surging rental rates and expats opting to live in the UAE longer have also made the jump from tenant to homeowner increasingly more attractive, industry experts […] October 21, 2022
Transport Etihad Rail finishes laying tracks in Sharjah and Ras Al Khaimah Etihad Rail, the developer and operator of the UAE national rail network, has completed the tracklaying works of the main line in Sharjah and Ras Al Khaimah, according to WAM, the UAE state-owned news agency. The work is part of the last package of stage two of the project. The main line extends from Ghuweifat, […] October 13, 2022
