Retail MAF Lifestyle awaits ‘stability’ before entering Egypt The lifestyle arm of the UAE conglomerate Majid Al Futtaim is looking for opportunities to expand into Egypt. However, there must be “stability” in the country before any move is made, MAF Lifestyle’s CEO, Fahed Ghanim, has told AGBI. Majid Al Futtaim as a group already runs operations in Egypt, including the Mall of Egypt […] December 30, 2024
Analysis Real Estate Pricey homes and packed hotels: the year in GCC real estate The story of the Gulf property market this year was about decreased housing affordability and a growing gap between top-quality properties and second-tier ones. Meanwhile, surging numbers of international visitors in the UAE, Saudi Arabia and Qatar brought thriving hospitality and retail sectors in the main tourist hotspots. Industry observers expect 2025 to bring more […] December 27, 2024
Tourism Abu Dhabi records 26% rise in international visitors Abu Dhabi welcomed almost five million guests to its hotels in the year through to October. The latest figures from the Department of Culture and Tourism (DCT) Abu Dhabi show that the number of international guests was up 26 percent year on year over the 10-month period. Visitors mainly came from India, China, Russia, the […] December 27, 2024
Retail Strong demand for discount retail in Saudi Arabia and UAE Experts are predicting significant growth in discount retail stores and private label brands in UAE and Saudi Arabia in the coming years. Cost-conscious consumers in the region are looking for convenience and value in their weekly shop and that extends to buying retailer own-brand products usually cheaper than market leading brands. In a recent survey […] December 27, 2024
Tourism Saudi hotel rates are flat, but tourists are staying longer Room rates in Saudi hotels are flat, but visitors to the kingdom are staying for longer, according to government figures. The average daily room rate was SAR725.50 ($193.50) in the second quarter of 2024, said the General Authority for Statistics. This was a dip of 0.4 percent year on year. Average room occupancy rates in […] December 24, 2024
Opinion Business of Sport Riyadh will take a measured, domestic approach to its World Cup The sense that the 2034 tournament will be ‘by Saudis, for Saudis’ looms large December 24, 2024
Business of Sport Prince sells English football club to US consortium Saudi Arabia’s United World Group, led by Prince Abdullah bin Mosaad bin Abdulaziz Al Saud, has sold its interest in the English Championship side Sheffield United. The club, currently sitting at the top of the table heading into the busy Christmas schedule of fixtures, has been taken over by the American consortium COH Sports for […] December 24, 2024
Retail Mena ecommerce up 44% in November Ecommerce in the Middle East and North Africa enjoyed a prosperous November with sales 44 percent higher than the year’s monthly average. Online transactions in 2024 were healthy as a whole, with 5 percent growth on the previous 12 months. Unsurprisingly Black Friday, the global marketing ploy that businesses use to offer big discounts, was […] December 23, 2024
Analysis Markets Talabat and Lulu post-listing slump dims allure of UAE IPOs Talabat and Lulu Retail Holdings were the UAE’s biggest initial public offerings (IPOs) in 2024, raising $3.75 billion amid huge investor demand. But the stock prices of both companies have slid since listing on the Dubai and Abu Dhabi bourses respectively, threatening investor confidence in future UAE flotations involving privately run companies. It has also […] December 23, 2024
Opinion Finance My humble submission for the 2025 Pulitzer Prize Our editor-at-large reviews his year in columns and finds his triumphs abound December 20, 2024
Opinion Retail An advent calendar for every day in the UAE. Why not? Customers are shifting towards premium experiences, not just for the holidays but all through the year December 20, 2024
Agriculture ADQ plans Abu Dhabi shrimp farm with Korean startup A land-based shrimp farm may be set up in Abu Dhabi, after a deal between the emirate’s sovereign wealth fund, ADQ, and a South Korean aquaculture startup. Aqua Development, based in Seoul, uses a combination of aquatic biology and technology to replicate the shrimp’s natural environment, which it says is more efficient than traditional fish […] December 19, 2024
Construction Underwater marine museum bids sought by Abu Dhabi The Environment Agency Abu Dhabi (EAD) has launched a public tender for the construction of an underwater marine museum. The project scope includes construction, production, transportation, installation and handover of the museum elements, according to the pre-specified design. It will also require the fabrication and transportation of museum components, along with site preparation of the […] December 18, 2024
Analysis Retail UAE retailers face rising costs as shoppers demand more Rising costs for UAE retailers risk hitting marketing budgets in 2025 – even though consumers are spending more cash. Increases in raw material costs and supply chain delays are tightening the margins for companies, experts have pointed out. Still, a sharp increase in the use of artificial intelligence in the retail industry next year is […] December 18, 2024
Banking and Finance Banks strike debt deal to take stake in Istanbul’s cruise port Five banks will take a 49 percent stake in Istanbul’s luxury cruise terminal after striking a debt restructuring deal worth €1.02 billion ($1.1 billion) with Dogus Group, owned by Turkish billionaire Ferit Şahenk. Under the agreement, Yapi Kredi Bankasi AS will acquire up to a 13 percent stake in Galataport Istanbul Liman İşletmeciliği ve Yatırımları […] December 18, 2024
Real Estate Seven awards $346m contract for new entertainment venue Saudi Arabian developer Seven is investing SAR1.3 billion ($346 million) to develop a new entertainment destination in the Jazan region. The development has been awarded to Riyadh-based Alfanar Projects. Located adjacent to the North Corniche Park along Jazan’s waterfront, it will span more than 60,000 sq m, with 73,000 sq m of built-up space. Designed […] December 18, 2024
Retail Abu Dhabi sells 69% stake in Liverpool shopping centre Abu Dhabi Investment Authority (Adia), the UAE’s largest sovereign wealth fund, has sold its 69 percent stake in the Liverpool One shopping centre. As part of the deal with the Land Securities – the largest commercial property development and investment company in the UK, with a portfolio valued at around £10 billion – an unnamed […] December 18, 2024
Opinion People & Lifestyle An Art Basel deal will take UAE culture to the next level The world’s largest arts fair is rumoured to be taking a stake in Abu Dhabi’s local offering December 17, 2024
Tourism Morocco aims for 80m airport capacity by 2030 Morocco aims to double its passenger capacity from 38 million to nearly 80 million by 2030 in a major expansion of the country’s airports. The move is part of a significant tourism drive as Morocco prepares to co-host the 2030 Fifa World Cup, along with with Spain and Portugal, Morocco World News reported, quoting the […] December 17, 2024
People & Lifestyle Global inspirations for Dubai’s ‘walkability’ mission From Singapore to Bologna, Dubai should cast its net wide for examples in its ambitions to transform into a pedestrian-friendly city December 16, 2024
Business of Sport Manchester City reports record revenues Despite a recent slump in form on the pitch, the Abu Dhabi-backed English football team Manchester City is thriving commercially, its annual report revealed this week. The club has announced record-breaking revenues of £715 million ($903 million) for the past year, with profits of £73.8 million. Chairman Khaldoon Al Mubarak said: “Our focus remains on […] December 13, 2024
Opinion Business of Sport Taking Saudi Arabia’s World Cup 2034 from ambition to reality It should focus on multipurpose, practical stadiums that serve communities long after the final whistle December 13, 2024
