Real Estate Property Finder ‘likely’ to go public, says CEO Property Finder, a real estate platform in the Middle East and North Africa, is likely to go public, Michael Lahyani, its CEO, said. “It’s not something that we’re actively working on, but Property Finder is likely to be a public company at some point,” he said at Abu Dhabi Finance Week on Monday. “It’s just […] December 9, 2024
Transport Turkish electric vehicle sales up 39% in a year Turkey’s electric vehicle market is expanding rapidly, with sales increasing almost 39 percent year on year as new models become available and supporting infrastructure is put in place. The rise is in contrast to conventional car sales, which are showing modest growth compared to their greener rivals. Turkey is also bucking global trends, which has […] December 9, 2024
Infrastructure Morocco’s rail project secures $14bn funding Morocco’s mega railway expansion plan has attracted more than $14 billion (MAD139.8 billion) in investments from global investors, surpassing its initial funding goal of $8.8 billion, according to media reports. The project, led by the state-run National Railways Office (ONCF), has attracted significant attention due to its strategic importance, local media said citing Akinwumi Adesina, […] December 9, 2024
Construction Dubai unveils master plan for pedestrian-friendly city Dubai has ambitions to transform into a pedestrian-friendly city, including a 6,500 km network of walkways across 160 areas of the emirate. The Dubai Walk master plan, unveiled by Dubai Ruler Sheikh Mohammed bin Rashid Al Maktoum, will feature uninterrupted pathways and expanded green spaces. The plan includes constructing 3,300 km of new walkways and […] December 8, 2024
Real Estate Property app Stake to launch in Saudi Arabia A fractional-ownership platform that enables investors to own parcels of real estate for as little as SAR500 ($134) is to launch in Saudi Arabia on December 9. Based in Dubai, Stake offers investors the opportunity to buy parts of residential and commercial properties. Fractional property ownership is a rising trend in the global real estate market. […] December 6, 2024
Real Estate Abu Dhabi royal family buys £61.5m London mansion Abu Dhabi’s Al Nahyan royal family has purchased a mansion in Holland Park, one of London’s exclusive neighbourhoods. The family paid £61.5 million ($78.1 million) for the property, which includes a swimming pool and cinema room, Bloomberg reported, citing people familiar with the matter. The deal was completed in October before the UK government introduced […] December 6, 2024
Opinion Real Estate Dubai home renovations: enough to drive a man to drink Real estate may be peaking if the work in my apartment block is anything to go by December 6, 2024
Analysis People & Lifestyle Egypt’s historic rent controls are a problem to be solved Ahmed lives in a four-bedroom apartment in a concrete tenement with his ailing mother. The flat has been in the family since his father, who died several years ago, began renting it when he graduated from university in the 1960s. It is in Manial, a bustling, lower-middle-class area of Cairo, the kind of place where […] December 6, 2024
Economy PIF secures $10bn from French export credit agency Saudi Arabia’s Public Investment Fund has signed an agreement with Bpifrance Assurance Export, a French export credit agency, to seek funding for up to $10 billion. The five-year pact will focus on projects supporting Vision 2030 and is aligned with the fund’s strategy to grow build long-term global partnerships. The agreement will unlock new opportunities for French […] December 6, 2024
Tech Damac to spend $3bn on data centres in Southeast Asia Edgnex, the data centre subsidiary of Dubai’s Damac Group, is planning to invest $3 billion in sites across Southeast Asia over the next three to five years. The investment is part of a $7 billion digital infrastructure strategy that aims to meet rising demand for artificial intelligence and cloud computing, Danish Nayar, Damac’s senior vice-president […] December 4, 2024
Real Estate Aldar acquires unfinished commercial tower in DIFC Abu Dhabi’s largest developer, Aldar Properties, has acquired an unfinished commercial tower in the Dubai International Financial Centre (DIFC) for AED2.3 billion ($626 million), as it continues its expansion into its neighbouring emirate. The tower, bought from H&H Development, has 40 floors of commercial and retail space and is due for completion in 2028. It is […] December 4, 2024
Real Estate Abu Dhabi citizens receive $3.6bn in housing benefits To coincide with the UAE’s Eid Al Etihad celebrations, thousands of Abu Dhabi citizens have received housing benefit packages worth a total of AED7.72 billion ($2.1 billion). This package, the third awarded this year, brings the total value of housing benefits disbursed to Emiratis during 2024 to AED13.2 billion ($3.6 billion) This week 5,374 Emirati […] December 3, 2024
Analysis Real Estate Reforms pay off as Sharjah property market surges ahead Successive reforms in Sharjah’s property market and sky-high rental prices in neighbouring Dubai are contributing to a surge in the price and popularity of the emirate’s rental properties. According to a report by property management firm Asteco, rental prices for the third quarter of 2024 in Sharjah increased 16 percent year on year for typical […] December 3, 2024
Trade Oman and Turkish pension fund launches $500m JV A new container port in the southern Turkish city of Iskenderun is to be the first project in a joint venture worth $500 million between one of Turkey’s leading retirement funds and Oman’s sovereign wealth agency. The Oman Investment Authority (OIA) and the Turkish military pension fund Oyak plan to invest in a range of […] December 3, 2024
Business of Sport Fifa praises ‘impressive’ Saudi World Cup 2034 bid The vast construction projects proposed by Saudi Arabia for the 2034 Fifa World Cup are impressive, but present a medium risk of not being completed in time, football’s governing body Fifa has warned. In a 110-page bid evaluation document, Fifa’s inspection team said Saudi Arabia must invest “significant effort and time” to fulfill its ambitious […] December 2, 2024
Opinion Infrastructure Libya prepares final phase for giant man-made river It is hoped that all Libyan villages and cities will gain access to fresh Saharan water December 2, 2024
Opinion Transport Now on platform 1 … a stylish ride for Riyadh commuters Riyadh Metro's bright and spacious trains will have a huge impact on the city’s productivity December 2, 2024
Infrastructure $54bn private investment sought for Abu Dhabi infrastructure Abu Dhabi is overseeing more than 600 infrastructure projects valued at more than AED200 billion ($54 billion), representing an opportunity for the private sector to collaborate on a pipeline of projects that are integral to the emirate’s Economic Vision 2030 plan, a senior official said. The projects, being led by the Abu Dhabi Projects and […] December 2, 2024
Agriculture UAE’s ADQ to explore building land-based fish farm ADQ, an Abu Dhabi-based investment and holding company, has signed an agreement with a Finnish aquaculture technology company to explore the feasibility of developing a land-based fish farming facility. Finnforel will collaborate with ADQ on the fish farm that could have a capacity of producing three thousand tonnes per year. The farm will cultivate rainbow trout, […] December 2, 2024
Giga-projects Riyadh hopes to entice private sector to landmark projects Riyadh is courting private-sector investors to fuel its ambitious development agenda, offering significant opportunities but grappling with resistance from companies citing financial risks, a senior official said. The push to involve private firms highlights Saudi Arabia’s challenges as it transitions from government-led development to growth driven by the private sector, a pillar of its Vision […] November 29, 2024
Finance IHC stands by Adani investments despite US indictment Abu Dhabi’s International Holding Company (IHC) is standing firm on its outlook for investments in the Adani Group despite an indictment against its billionaire owner Gautam Adani and seven others in the US. The conglomerate, led by its chair and the UAE’s national security adviser Sheikh Tahnoon bin Zayed Al Nahyan, has been one of […] November 28, 2024
Real Estate Qatar’s real-estate buyers wait on lower interest rates Consumer expectations that interest rates will continue decreasing in the coming months appear to have dented Qatar’s residential real-estate market growth in the third quarter of this year. Mortgage transactions fell 10 percent in Qatar from July to September over the previous three months, and 8.5 percent over the same period last year, according to […] November 28, 2024
