Infrastructure Saudi airports operator issues tender for Abha expansion Saudi Arabia’s state-owned airport operator has issued a tender for a new terminal at Abha International Airport in the Aseer region. The Civil Aviation Holding Company, also known as Matarat, has called for expressions of interest by the end of this month. On offer is a 30-year build-operate-transfer deal to develop and run the terminal. […] January 17, 2024
Opinion People & Lifestyle The world is moving to Saudi Arabia The kingdom could supplant the UAE as the GCC destination of choice for both tourists and migrants January 16, 2024
Media & Advertising Saudi media group Tihama to appeal against court ruling The company that operates WH Smith shops in Saudi Arabia is to appeal against a court ruling that blocks its financial rescue plan. The Commercial Court in Riyadh rejected the proposal from media group Tihama on Monday. Shareholders approved the financial restructuring plan recommended by Tihama’s board of directors last month. More than 99 percent […] January 16, 2024
Giga-projects Saudi Arabia plans stadium for holographic concerts Saudi Arabia has announced plans to build a new stadium featuring holographic technology that will be able to stage virtual interactions with celebrities and artists. The Prince Mohammed bin Salman Stadium will be built in Qiddiya City, located 40 minutes from Riyadh and part of the kingdom’s new entertainment city, the state-run Saudi Press Agency […] January 15, 2024
Tourism Oman’s luxury hotel revenue rises 27% to $532m The revenue of Oman’s 3-star to 5-star hotels rose 26.6 percent to OMR204.18 million ($531.77 million) by the end of November 2023, compared to OMR161.26 million in November 2022, according to data issued by the National Centre for Statistics and Information (NCSI). The total number of hotel guests increased by 30.3 percent to 1.88 million […] January 15, 2024
Retail UAE’s LuLu to build India’s largest shopping mall for $483m The UAE retail conglomerate LuLu Group is to develop India’s largest shopping mall, in Ahmedabad, Gujarat, for an estimated cost of 40 billion rupees ($482.67 million). The construction for the proposed shopping mall will start this year, Asian News International (ANI) news agency reported, quoting comments by Yusuff Ali MA, chairman and managing director of […] January 14, 2024
Leisure & Hospitality ADQ and Adnec acquire stake in Egypt luxury hotels Abu Dhabi’s ADQ and Adnec Group have signed agreements to acquire a 40.5 percent stake in Egypt-based Talaat Moustafa Group Holding’s hospitality subsidiary. The two UAE companies will invest through a special purpose vehicle through a capital increase to acquire a stake in Icon Group, the UAE state-run Wam news agency reported. ADQ will own […] January 14, 2024
Giga-projects Neom launches ‘futuristic’ project on Aqaba coast Saudi Arabia’s $500 billion Neom giga-project has launched Aquellum, a “futuristic” mixed-use development on the Gulf of Aqaba coast. The project will be concealed from the outside along the coastline, hidden within a 450-metre-high mountain range. Visitors will access Aquellum through “the world’s first floating marina” in a specially designed vessel, entering through a concealed […] January 11, 2024
Leisure & Hospitality Dubai hospitality thrives despite rising costs Dubai’s hospitality industry reported a strong end to the year despite global economic turbulence and geopolitical concerns in the region. According to the latest headline S&P Global Dubai Purchasing Managers’ Index (PMI), the emirate’s non-oil private sector posted its best performance for 16 months in December, buoyed by strong sales in wholesale and retail and […] January 10, 2024
Retail Retailers point up savings as Dubai bans plastic bags Supermarket operators have told AGBI that Dubai’s ban on single-use plastic bags is an opportunity to cut costs – and pass on savings to customers. The emirate’s prohibition on the import, production and circulation of single-use plastic shopping bags came into force on January 1, in an attempt to reduce waste and pollution. The Gulf […] January 10, 2024
Opinion Retail What shoppers want – and how to make sure they get it Generative AI tools and ‘value hacking’ will influence buying decisions this year January 9, 2024
Video length: 05:17 VIDEO Retail Gulf retailers absorb Red Sea shipping cost rise – for now The Red Sea shipping crisis is only a “hiccup” in the day-to-day operations of UAE retailers, and customers will not experience any price rises or product shortages in the short term, chains are saying. “We wouldn’t call it a crisis. This particular situation isn’t much different to the challenges we had when the Suez Canal […] January 9, 2024
Food & Drink Abu Dhabi plans seat at world’s culinary top table Work has begun on the infrastructure for a huge new food hub in Abu Dhabi, while plans have been revealed for the UAE’s first Le Cordon Bleu Institute. The 3.3sq km Abu Dhabi Food Hub is being developed at Khalifa Economic Zones Abu Dhabi, as the emirate seeks a place at the world’s top table […] January 7, 2024
Food & Drink Vegan meals take off on Emirates Dubai’s Emirates reported a 40 percent increase in demand for vegan meals across its network of 140 routes in 2023, and has plans to add more plant-based catering options in 2024. The airline served 450,000 plant-based meals on board last year, up from 280,000 in 2022. The biggest rise in demand was on routes to […] January 5, 2024
Analysis Construction Bahrain’s consumer spend to rise as destination malls open Consumer spending in Bahrain is forecast to rise this year as its economy grows – with retail confidence reflected by construction starting on a $530 million development. Bahrain Marina will have nearly 200 shops, including international brands, restaurants and cafes, as well as 274 residential units, 182 berths for yachts and boats, and more than […] January 5, 2024
Leisure & Hospitality Gulf hotels under pressure to boost green credentials Hotels in the Gulf region are facing pressure to make their buildings and operations more green or lose out on future investment. Ufi Ibrahim, chief executive of the Energy and Environment Alliance (EEA), a hotel industry network, told AGBI that EU green banking regulations that take effect in January will affect global investors. If hotel […] January 4, 2024
Retail Perfume helps Dubai Duty Free hit record sales in 2023 Dubai Duty Free (DDF) recorded record sales of AED7.885 billion ($2.15 billion) in 2023, a year-on-year increase of 24 percent, and 6 percent above 2019, with perfume retaining its title as the top-selling sector. DDF celebrated its 40th anniversary in December, and the holiday month finished the year with sales of AED807.6 million, an 8 […] January 4, 2024
Retail UAE enforces new rules for buy-now-pay-later operators Updated regulations for buy-now-pay-later service providers and other finance companies providing short-term credit facilities have been introduced by the Central Bank of the UAE. Buy-now-pay-later (BNPL), a business model that allows consumers to make immediate online purchases and spread their payments over interest-free instalments, has grown in popularity in the Gulf post Covid-19. Last month, […] January 2, 2024
Tourism Qatar’s visitor arrivals reach a five-year high in 2023 Qatar received more than four million visitors in 2023, surpassing the annual visitor numbers of the previous five years. The positive momentum follows the success of the Fifa World Cup Qatar 2022 and the government’s efforts to bolster tourism, state-run Qatar Tourism said in a statement. Qatar last year introduced the Hayya platform to streamline […] January 2, 2024
Sustainability Dubai bans single-use plastic bags in new year recycling push A ban on single-use plastic bags has come into force in Dubai. The January 1 ban follows a resolution issued by Dubai Crown Prince Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, reported the UAE state-run news agency Wam. It aims to encourage the private sector to promote the use of recycled products, aligning with […] January 1, 2024
ANALYSIS Economy From sports to oil cuts: Saudi Arabia’s year in review As the curtain comes down on 2023 and Saudi Arabia moves closer to its Vision 2030 deadline, AGBI looks back at the highlights and notable events of the past twelve months in the kingdom. Saudi Arabia wins hosting rights for major events Saudi Arabia’s drive to draw global attention to its development efforts scored important […] January 1, 2024
Business of Sport ADQ signs sponsorship pact with Egyptian football club Abu Dhabi sovereign wealth fund ADQ has signed a multi-year sponsorship agreement with Pyramids Football Club (Pyramids FC), an Egyptian Premier League professional sports club. The fund will be the official partner of Pyramids FC, reinforcing ADQ’s position as a long-term investor in Egypt. The financial details of the deal were not given. Since its establishment and […] December 31, 2023
