Opinion Tourism Mickey Mouse meets the Middle East in Abu Dhabi The UAE's new Disney park will increase consumer spending across the emirate May 15, 2025
Retail Lulu profit and revenue up as online sales grow by quarter Net profit of Lulu Retail, the largest grocery retailer in the GCC, increased in the first quarter of 2025, supported by higher online sales. Net profit grew 16 percent year on year to $70 million, with net profit margin rising to 3 percent, up 25 basis points annually, the retailer said in a statement published […] May 14, 2025
Tourism Turkey could receive 5 million UK tourists this year More visitors from the UK are expected to visit Turkey this year, thanks to the long summer season and the expansion of Antalya airport. British tourists could reach 5 million this year, British envoy to Ankara Jill Morris told the state-run Anadolu Agency. She said the number of UK visitors rose from 3.3 million in […] May 13, 2025
Retail Spinneys targets expansion in UAE and Saudi Arabia Supermarket operator Spinneys plans to expand its network further in the UAE and Saudi Arabia this year as online sales and a bigger spend per customer drove revenue in the first quarter of the year. The top line rose 11.3 percent year on year to AED906 million ($247 million) in the first three months of 2025. Like-for-like […] May 13, 2025
Analysis Retail Dollar rebound offers little relief to UAE retailers The dollar has jumped in the past 24 hours but it is still trading at around an eight-month low, at least against the euro. For Gulf oil producers, most of whose currencies are pegged to the US currency, the weaker dollar poses a challenge. “The dollar has been part of the collateral damage as investors […] May 13, 2025
Tourism Red Sea Global’s airport ‘racing towards completion’ Red Sea International Airport will be “fully operational” within “a couple of months”, according to an executive at Red Sea Global. The airport “is racing towards completion”, said Ben Edwards, group head of cost, commercial and procurement at the Saudi resort developer. “We’re gradually seeing the network of flight operations increasing as the demand in […] May 13, 2025
Tourism Best Western Hotels to increase Saudi footprint Best Western Hotels and Resorts plans to increase more than six-fold the number of hotels it operates in Saudi Arabia to tap a growing market in domestic and international business and leisure travel, the Arizona-based company said. BWH currently runs seven hotels, has 21 under development and is targeting as many as 45 by the […] May 12, 2025
Retail Ramadan sales support Talabat’s top-line growth Talabat, the Dubai-listed online food ordering and delivery company, said its top line rose more than a quarter in the first three months of this year, supported by growth in the grocery and retail segments during the holy month of Ramadan. Net profit nearly tripled to $103 million in January to March period from $24 […] May 12, 2025
Retail Emarat customers can soon use crypto to pay for gas Customers at some of Emarat’s service stations across the UAE will soon have the option to pay for their gas and snacks in cryptocurrencies. Emarat has partnered with UAE crypto trading platform Crypto.com to allow merchants to use cryptocurrencies at their checkouts, the company announced on LinkedIn this week. Initially, 10 service stations will be […] May 9, 2025
Tourism Saudi smaller cities could give best return on investments Growth in the hospitality sector of the Middle East and North Africa has outpaced that of other regions, driven by expansion in Saudi Arabia’s tourism market. The kingdom, which has increased its annual tourism target from 100 million to 150 million visitors by 2030, is undertaking a country-wide $110 billion dollar investment drive. While the […] May 9, 2025
Leisure & Hospitality Wynn says UAE casino on track despite delays to US projects Wynn Resorts has said its $5 billion integrated resort in the UAE is progressing on schedule, even as the Las Vegas casino operator delays hundreds of millions of dollars in other projects due to rising construction costs linked to new Trump tariffs.` While gambling remains prohibited under UAE federal law, the 47-storey resort on Al […] May 9, 2025
Analysis Tourism Riyadh wants the world to visit the ‘Arabian Highlands’ of Aseer The streets of Abha become festooned with lilacs and mauves throughout May, when the city’s 25,000 jacaranda trees come into bloom. Pockets of purple burst throughout the hilltop capital of the southern province of Aseer, bringing an increasing number of tourists. Aseer’s botanical diversity has helped it become the fastest growing tourism prospect in Saudi […] May 8, 2025
Video length: 04:54 Leisure & Hospitality Disney to open theme park in Abu Dhabi The Walt Disney Company has announced that it is partnering with Abu Dhabi’s leisure-focused developer Miral to build a theme park in the UAE capital. The resort, Disney’s first in the Middle East, will be on the waterfront of Yas Island. It will be the US company’s seventh theme park around the world and the […] May 8, 2025
Leisure & Hospitality Uber enters Turkey’s food delivery sector with $700m buyout Uber Technologies will foray into Turkey’s food delivery sector as part of its expansion plans. The company has agreed to acquire an 85 percent stake in Alibaba-backed Trendyol Group’s Go online meal and grocery delivery business in Turkey for $700 million. The acquisition is expected to close in the second half of 2025 following regulatory […] May 7, 2025
Business of Sport Abu Dhabi doubles down on global sports investment Manchester City may have lost its grip on the English Premier League title this season, but Abu Dhabi has no intention of relinquishing its power in the sporting sphere. The emirate has unveiled two major deals this month that underscore a strategic push to remain a dominant player in the fast-evolving sports business, even as […] May 6, 2025
Tax Tax incentives for Morocco stadium construction bids Morocco is offering tax incentives of up to 30 percent, as it looks to attract private sector partners for large scale projects such as the infrastructure needed ahead of its co-hosting of the World Cup in 2030. “Morocco offers incentives that can reach up to 30 percent of the total investment amount,” Karim Zidane, Morocco’s […] May 5, 2025
Analysis Leisure & Hospitality 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 […] May 5, 2025
Video length: 04:55 VIDEO Tourism Miral’s global ambitions for Yas Island entertainments Abu Dhabi leisure and entertainment group Miral believes its pipeline of attractions, including a Harry Potter destination at Yas Island, will increase its contribution to the Abu Dhabi economy to as much as 15 percent. AGBI caught up with Miral CEO Mohamed Al Zaabi at Arabian Travel Market to find out why he believes Yas […] May 2, 2025
Gaming New Jersey and UAE gaming regulators sign agreement The US state of New Jersey, home to Atlantic City’s casino resorts, signed a landmark agreement this week with the UAE’s gaming regulator. The agreement comes as MGM Resorts International, a major Las Vegas casino operator, held meetings about its upcoming projects in the emirates. The memorandum of understanding was signed in Abu Dhabi on […] May 2, 2025
Exclusive Tourism H World International plans Saudi hotels development H World International, a major hotel developer, will open multiple new properties in Saudi Arabia, including a branch of its 95-year-old Steigenberger brand. “We are about to announce much more development in Saudi Arabia, specifically around Riyadh,” said Siegfried Nierhaus, the hotelier’s Dubai-based vice president and head of development for the Middle East, India and […] May 2, 2025
Tourism ‘Tourism is the new oil’, says man trying to bring 150 million people to Saudi Investment in tourism will remain a priority in Saudi Arabia despite falling oil prices and increased budgetary pressures, according to the kingdom’s top industry official. The underserved three-star and four-star hotel sector is a particular focus, Fahd Hamidaddin, CEO of the Saudi Tourism Authority, told AGBI. “The darker it gets, the more reason we should […] May 2, 2025
Real Estate 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 […] May 1, 2025