Markets Dubai shares slide nearly 2% on Israel and Iran tensions Dubai’s benchmark stock index fell sharply on Friday, as heightened geopolitical tensions in the Middle East triggered a sell-off in heavyweight property shares. The DFM General Index dropped 1.87 percent after Israel launched strikes on Iranian military targets. Israel said it had hit nuclear and missile sites as well as targeting senior commanders, calling it […] June 13, 2025
Analysis Construction Slowdown looms for Saudi construction as PIF cuts contracts The number of construction contracts issued by the Saudi government and the Public Investment Fund (PIF) has fallen drastically amid a decline in oil revenues and a realignment of large-scale infrastructure projects. The drop indicates a slowdown in the Saudi construction sector, previously one of the most vibrant in the world. Last year it accounted […] June 12, 2025
Transport Passengers face delays as Etihad Rail tender extended Passengers awaiting the UAE’s high-speed rail link between Abu Dhabi and Dubai may face delays after the submission deadline for key construction tenders was pushed back. Etihad Rail, the state-owned developer behind the project, originally set an early May deadline for bids covering civil works and station design for the passenger line. That date has […] June 12, 2025
Construction Qatar starts work on ‘largest’ 3D-printed schools A Qatari company has commenced work on what it says are two of the world’s largest 3D-printed buildings. The 3D-printed schools project is a venture between Qatar-headquartered UCC Holding and the state-backed Public Works Authority (Ashghal). The project involves the construction of 14 public schools, including two built using 3D printing technology. Each of the 3D […] June 12, 2025
Real Estate Emaar shares rise after upgrade by rating agencies Shares of Emaar Properties, Dubai’s largest listed real estate developer, rose on Wednesday after two global rating agencies upgraded its credit ratings. The stock was trading 1.5 percent higher at AED13.45 at close of trading on the Dubai Financial Market. More than 14.3 million shares had been traded. The stock has jumped nearly 5 percent […] June 12, 2025
Real Estate Branded homes in Abu Dhabi cheaper than Dubai and RAK Prices of luxury branded homes in Abu Dhabi are significantly lower than those in smaller emirates such as Dubai and Ras Al Khaimah (RAK), and below other rival global mature cities, new industry data shows. Branded properties in the UAE’s capital city cost between AED2,500 ($681) and AED4,000 per sq m. In comparison, similar homes […] June 12, 2025
Analysis Manufacturing Cement’s mixed results reflect Saudi outlook In some respects, Saudi cement producers, important constituents of the Tadawul stock exchange and bellwethers of the national economy, have never had it so good. The kingdom has an array of giga-projects underway and is preparing to host a series of high profile international events, from the World Expo in Riyadh in 2030 to the […] June 12, 2025
Construction Omani development secures $160m loan for expansion Al Mouj Muscat, an Omani waterfront community development part owned by the government and Dubai’s Majid Al Futtaim, has finalised a $160 million loan to fund its expansion plans. “The loan will finance our expansion plans to expand our properties to 10,000 units and enlarge our marina and shopping complex,” Saleh Al Siyabi, Al Mouj […] June 11, 2025
Infrastructure Omani shipbuilding facility to serve regional markets A new shipbuilding dry dock in the remote but strategic Omani town of Musandam will serve regional markets and give the Gulf state’s farmers and fishermen a new lease of life. Musandam Global Investment Company (MGIC), a Turkish and Omani joint venture, will build the shipbuilding and marine repair facilities and the project is expected […] June 10, 2025
Infrastructure Emirates NBD and Siemens to finance green infrastructure Emirates NBD (ENBD), Dubai’s largest bank by assets, and German multinational Siemens have signed an agreement to provide finance for green infrastructure projects in the UAE. The agreement aligns with the UAE’s Net Zero by 2050 strategic initiative. Siemens will develop and design the administrative, technical and structural aspects of the agreement, the UAE […] June 10, 2025
Analysis Real Estate Land prices surge as Dubai’s developers scramble for plots A wave of land acquisitions by Dubai developers has driven up prices by more than a third so far this year. Fierce competition for prime plots and off-plan sales is pushing investors into emerging districts, industry professionals say. The land rush, fuelled by constrained supply in central areas and a growing population, has underpinned the […] June 10, 2025
Infrastructure Startups invited to solve Medina’s challenges Saudi Arabia is inviting startups to tackle infrastructure challenges in Medina, one of Islam’s holiest cities, as it ramps up efforts to expand religious tourism. Madinah-Tech, an accelerator backed by the regional municipality and private investors, has opened applications for its first cohort as the city struggles to keep pace with growing visitor numbers. The […] June 5, 2025
Aviation Disputed region to get new airport for Morocco’s World Cup Morocco has unveiled plans to build a new civilian airport in the disputed Western Sahara as part of a massive infrastructure development programme ahead of the 2030 Fifa World Cup which it co-hosts with Spain and Portugal. Transport Minister Abdul Samad Qayouh disclosed the proposed plan for the airport in Boujdour city during a parliament […] June 5, 2025
Infrastructure Dubai Airports targets $6m savings after lighting retrofit Dubai Airports has launched the final phase of its airport-wide lighting retrofit project, which is expected to result in AED20 million ($5.5 million) in cost savings. In the last phase, more than 180,000 conventional lighting fixtures will be replaced with energy-saving alternatives across Dubai International (DXB) and Dubai World Central – Al Maktoum International (DWC), […] June 5, 2025
Analysis Tourism Oman smart city projects face pushback on heritage Oman may be investing more than $15 billion in developing digitally smart urban areas but critics say the ambition could contravene the country’s heritage priorities. The sultanate has mobilised urban plans that could cost more than $15 billion, starting with Sultan Haitham City, work on which is in full swing on the outskirts of the […] June 4, 2025
Real Estate Emaar’s Indian unit expands amid sale talks The Indian subsidiary of Dubai-listed Emaar Properties has launched a new housing project in the state of Uttar Pradesh amid buyout talks with the local business Adani Group. The launch follows reports in March that the Dubai developer was planning to sell its Indian venture for $1.4 billion to a conglomerate led by billionaire Gautam […] June 4, 2025
Analysis Real Estate Medina plays catch-up to Mecca’s expansion Hajj pilgrims arriving at the Grand Mosque in Mecca this week will be the first in more than a decade to see a skyline free of construction cranes. Now that the long-delayed expansion of Islam’s holiest site is complete, the cranes that long dominated the area have been taken down. The renovations have doubled the […] June 4, 2025
Real Estate Aldar says Fahid Island development will cost $11bn Aldar Properties, the largest Abu Dhabi-listed developer by market capitalisation, will build more than 6,000 luxury residences on Fahid Island, one of its largest mixed-use masterplans in the emirate. The gross development value of the project is estimated at more than AED40 billion ($10.89 billion), the developer said in a statement. The company announced […] June 3, 2025
Infrastructure Dubai to build Ghana’s first economic zone The government of Ghana has signed a memorandum of understanding with Dubai state-owned entity Ports, Customs and Free Zone Corporation (PCFC) to establish an economic zone and digital incubator in Ghana’s capital Accra. The move is intended to attract foreign investment to West Africa and accelerate Ghana’s goal of becoming a regional technology powerhouse, the […] June 3, 2025
Energy China to build ‘sub-critical’ nuclear reactor in Iraq China has agreed to build the region’s first nuclear reactor training facility in Iraq, as the Baghdad government increasingly looks to nuclear power to help tackle its persistent power shortages. Iraq’s atomic energy commission said on Monday that it would sign an agreement for the facility with China’s atomic energy authority and that the project […] June 3, 2025
Construction Egypt unveils ‘megacity’ with 35,000 housing units Egypt is building a “megacity” west of Cairo, which will have a man-made channel to divert water from the Nile River to support irrigation. Jirian, meaning “flow” in Arabic, will initially house 35,000 residential units and is expected to create 250,000 jobs in the New Delta region, the official State Information Service reported. Prime Minister […] June 2, 2025
Real Estate Emaar Development buys new land in Dubai for $790m Emaar Development, the UAE development arm of Emaar Properties, has acquired a new land plot in Dubai for the potential expansion of its master communities. The land, the size of which was not disclosed, was acquired for AED2.9 billion ($790 million) from Amlak Property Investment in Ras Al Khor, the developer said in a statement. The […] June 2, 2025
