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
Analysis Lifestyle Dubai losing its lustre for squeezed expat middle classes Dubai, renowned for its lavish luxury and five-star everything, could be getting too expensive for expatriate middle-market workers, as costs continue to increase and pay rises become rarer. The emirate’s tax-free status and higher wages have long held a strong appeal for expatriates from all corners of the world. But as the cost of living […] November 28, 2024
EXCLUSIVE Infrastructure Riyadh Metro aims to break Saudi capital’s car gridlock World's longest driverless system City's traffic problems growing Just 1% use public transport The first phase of Saudi Arabia’s $22.5 billion Riyadh Metro is opening on December 1, marking a significant step toward transforming public ... Register now: It’s easy and free This content is available for registered members only. Register for your free account […] November 27, 2024
People & Lifestyle Saudi beauty ecommerce site Nice One announces IPO Nice One Beauty Digital Marketing, the largest beauty and personal care ecommerce platform in Saudi Arabia, has announced plans to launch an initial public offering of 30 percent of its shares on the Saudi market. The announcement comes after approval from the Capital Market Authority to offer 34,650,000 ordinary shares. No further information on share […] November 25, 2024
Economy Billionaires in UAE rise as Saudi numbers drop The number of billionaires in the UAE increased in the last year as the amount of super-wealthy residents in neighbouring Saudi Arabia dropped. Forty-eight billionaires lived in the UAE in 2023, with a combined wealth of $205 billion, a year-on-year increase of 7 percent. Dubai made up 39 of that total and welcomed one extra […] November 24, 2024
Analysis Construction Leaders of The Line share vision of a brave new world Its managers and designers say it is the human society of the future, but others might see in it a dystopian vision of life shielded in a glass box from an uninhabitable world. Leading figures behind the Neom city The Line – the boldest of Saudi Arabia’s $1.25 trillion giga-projects – made a coordinated pitch […] November 15, 2024
Analysis Food & Drink Saudis getting a taste for non-alcoholic drinks The Saudi government’s drive to improve the nation’s health is boosting the food and beverage market in the most unlikely of places – zero-alcohol beer. A report by MarkNtel Advisors shows the Gulf market is growing by 7.7 percent a year. The local and international brands vying for share include Aujan Group Holding, Anheuser-Busch InBev, […] November 15, 2024
Leisure & Hospitality Sotheby’s pins hopes on Saudi auction launch Sotheby’s is to open an office and stage its first auction in Saudi Arabia next year. The new branch will be located in the Faisaliah Tower in the capital Riyadh. The auction will take place on February 8, 2025 in the Unesco World Heritage site of Diriyah. Prior to the auction, an exhibition featuring the […] November 7, 2024
Analysis Lifestyle Christie’s to open new office in Saudi Arabia British auction house Christie’s announced last month that it had received a commercial licence to conduct sales and exhibitions in Saudi Arabia. From its new base in Riyadh it is hoping to tap into a secondary market for luxury goods and state institutions’ growing appetite for art. The company, which has its headquarters in London, […] October 11, 2024
Retail Gaza boycotts fuel sales spike for Gulf beauty brands Homegrown beauty brands in the Middle East are benefiting from boycotts of international companies as a result of the Israel-Gaza conflict. The cosmetics giant L’Oreal said the boycotts had a two-percentage-point drag on its growth in the first half of the year, as consumers turned their backs on the Paris-based company which also owns the […] August 30, 2024
Opinion Manufacturing Tesla “just not cool” anymore in car-crazy California The US state and Elon Musk's pioneering company have fallen out of love August 27, 2024
Analysis Retail Does Dubai need more malls? The people say yes In a city that already has more than 60 million square feet of leasable retail space, one of the highest per capita in the shopping-crazy Gulf, it is perhaps surprising to see more malls being built or added to the pipeline. Yet that is exactly what is happening in Dubai, where this week Sobha Realty […] July 4, 2024
Transport Dubai begins work on ‘20-minute city’ concept Dubai has approved a plan to support the “20-minute city” concept by developing land close to metro stations. The emirate’s executive council gave the green light to a plan to develop areas around metro stations by incentivising developers, UAE state-owned Wam news agency reported. The move will provide additional services, support the 20-minute city concept, […] July 1, 2024
Opinion Lifestyle A tale of two city states The commonality between Singapore and Dubai runs deeper than finance and bricks and mortar June 28, 2024
Giga-projects Futuristic architect lands arts centre in Saudi’s Qiddiya Saudi sports and entertainment city Qiddiya is to build a performing arts centre designed by leading architect Tom Wiscombe, whose futuristic building will straddle rugged mountains outside Riyadh. The centre will include 3,000 seats spread across three theatres including an amphitheatre with views of the capital. Qiddiya, one of the Public Investment Fund’s giga-projects, said […] June 27, 2024
Opinion People & Lifestyle Dollar peg, climate scam and rain in June? ‘Silly season’ is upon us Welcome to the time of year when news outlets serve up their wackiest stories June 21, 2024
Analysis Economy Wealthy migrants to UAE boost luxuries but stir inflation The UAE is likely to attract a new surge of ultra-rich migrants, lured by low tax rates, high-privacy settings and a luxurious lifestyle, at a time of global geopolitical upheaval and heightened anti-money laundering measures in developed countries. But, while the wave of wealth is likely to stimulate specialised sectors of the economy, the arrivals […] June 20, 2024
Economy Cairo and Istanbul feel biggest cost of living squeeze Dubai has become the most expensive city in the Middle East for expatriate workers, while Cairo and Istanbul were among the cities that saw the biggest rise in the cost of living this year, as soaring inflation impacted wages. Dubai, the UAE’s largest city, saw rental prices rise by about a fifth in the last […] June 18, 2024
Analysis Health Wearable tech shoppers track price as well as health Gulf consumers who are interested in wearable tech – smart watches, rings, glasses and implants – are opting for mid-range gadgets rather than premium devices, industry experts have told AGBI. Dubai retailer Jumbo Electronics reported 50 percent year-on-year growth in the AED600-1,000 (about $163-$272) price segment in the first four months of 2024. The AED1,000-1,500 […] June 10, 2024
Lifestyle Russians rush from Turkey as costs and restrictions bite Rising costs, increased difficulties in obtaining residency permits and tighter enforcement of restrictions on the number of foreign nationals who can live in popular regions are prompting an exodus of Russian citizens from Turkey. The number of Russian nationals holding Turkish residence permits has plunged to just over 96,000 as of May 16, down from […] May 24, 2024
Real Estate What billionaires want in their luxury Dubai homes Never mind saunas and double garages, the new must-haves are underwater sound systems and cryogenic rooms May 24, 2024
Video length: 3:39 VIDEO Health UAE diabetics face Ozempic shortage due to weight-loss users The manufacturer of Ozempic is “troubled” by the fact the drug, which was designed to help people with diabetes, is in short supply in the UAE because of the high number of consumers using it for its weight loss side-effects. Danish pharmaceutical company Novo Nordisk introduced Wegovy, a drug meant to specifically tackle obesity, to […] May 24, 2024