Markets Abu Dhabi National Hotels launches IPO of catering unit Abu Dhabi National Hotels (ADNH) said it will float a 40 percent stake in its catering unit, or 900 million shares, on the local stock exchange. The final offer price, determined through a book-building process, will be announced on October 16. The sharia-compliant ADNH Catering shares sold are owned by ADNH, which trades on […] September 30, 2024
Construction Global investors seek stake in Diriyah projects says CEO The Diriyah Gate Development Authority is holding discussions with foreign investors interested in buying equity stakes in hotels and other real estate developments in the $63 billion Diriyah giga-project. The Public Investment Fund (PIF)-backed developer has secured deals worth $1 billion with an Italian developer and a French company, CEO Jerry Inzerillo told Reuters. The names and specifics of the […] September 30, 2024
Trade Qatar is first Gulf state to join US visa waiver programme Qatar has become the first Gulf state to join the US visa waiver programme, allowing Qatari citizens to visit visa-free for up to 90 days from December 1. The US Department of Homeland Security and the Department of State said in a statement on Tuesday that the move would help to “significantly enhance the security […] September 25, 2024
Tourism Morocco on course for record-breaking tourism year Morocco is on track to break its record for international visitors after reporting a 13 percent increase in the first seven months of the year. Overnight stays in the North African country passed 15.35 million from January through to July, which was up 8 percent year on year. International tourism accounted for 10.9 million of […] September 24, 2024
Opinion Business of Sport Qatar scores Champions League deal in battle for Gulf skies Qatar Airways has added a new trophy to its prestigious sponsorship collection September 23, 2024
Analysis Tourism Arab Disneyland and Da Vinci: Saudi Arabia’s two great hopes Saudi Arabia is spending billions on tourism projects at the heart of its grand plan to transform a once isolated kingdom into a global tourist destination. But a nagging question is haunting policymakers: will the world pay attention? Tourism numbers are rising, hitting 27.4 million in 2023, but half of those were religious visitors. The […] September 23, 2024
Leisure & Hospitality MGM applies for UAE casino licence says CEO US hospitality and entertainment group MGM Resorts has submitted a proposal to the UAE government to secure a casino operating licence, CEO Bill Hornbuckle has confirmed. “The way it will work is the federal government in Abu Dhabi will approve it, we’ve applied for it and hopefully we’ll win the licence there,” Hornbuckle said at […] September 23, 2024
Leisure & Hospitality Jordan tourism down 7% to 4.2m visitors The number of visitors to Jordan fell 7 percent year on year to 4.2 million in the first eight months of 2024, official data reveals. However, Arab visiitors did increase, up 6 percent to 2.3 million tourists over the same period last year, Jordan Times reported, citing data from ministry of tourism and antiquities. Arab […] September 22, 2024
Leisure & Hospitality Arabian nights: what goes on when the sun goes down A jazz festival, desert raves and sports bar are part of the Saudi plan to build a night economy September 19, 2024
Tourism Plan announced to build six new hotels in Egypt Plans to open six new hotels in Egypt in 2025 at a cost of $215 million have been revealed by the CEO of an Egyptian hotel company. Alaa Akel, chief executive of Jaz Hotel Group, a subsidiary of the Egyptian travel and tourism company Travco, said the group will open two new hotels on Egypt’s […] September 18, 2024
Tourism Halo Space to manufacture capsules in Saudi Arabia Spanish company Halo Space plans to localise most manufacturing of its high-altitude balloon capsule to Saudi Arabia, it said this week before its first test launch in the kingdom. The Madrid-based startup is due to stage an unmanned test flight from the Al-Aflaj oasis 330km south of Riyadh within the next two weeks, depending on […] September 18, 2024
Aviation Dubai to launch air taxi service in 2026 Dubai is planning to launch an air taxi service in 2026, using Joby Aviation’s fully electric vehicles. In February, Joby Aviation, listed on the New York Stock Exchange, announced plans to soft-launch air taxi services in Dubai by early 2025. The air taxis are designed to carry a pilot and four passengers at 320km per […] September 18, 2024
Tech Shortage of IT specialists slows Turkish business growth A shortage of trained IT specialists is slowing Turkish companies’ growth and their development of artificial intelligence applications, according to a new report. The report, issued by Turkey’s state statistics agency Turkstat, found some sectors had a strong uptake of ecommerce sales and services. Almost half of all accommodation and food service providers took advantage […] September 17, 2024
Analysis Construction GCC stadium projects have multifaceted impact on real estate Entertainment and sports-focused construction across the Gulf is most likely to push property prices up despite bringing more traffic and noise, according to industry observers. A few of the region’s many projects include the 47,000-spectator Aramco stadium in Saudi Arabia’s Al Khobar, large amusement parks in Qatar and Kuwait, and the region’s inaugural ballpark on […] September 13, 2024
Opinion Food & Drink Dubai deserves its place on the global culinary scene Foodie landscape has had an impressive evolution, characterised by diversity September 12, 2024
Tourism Smoother sailing for cruise market as Oman relaxes visas Oman has relaxed visa regulations for cruise ship passengers visiting the sultanate. Authorities have introduced 10-day and one-month visas aimed at growing the country’s cruise tourism sector. Both visas, which are free of charge, are available from cruise-ship agents and are valid provided entry is made within 30 days of issue. NewsletterGet the Best of […] September 11, 2024
Tourism Saudi Arabia plans refund scheme to cater for tourists Saudi Arabia is planning to introduce a tourist tax refund scheme in an attempt to boost visitor numbers and compete with its Gulf neighbours. The Zakat, Customs and Tax Authority opened a public consultation at the end of August on proposed changes to tax regulations that aim to improve compliance with valued added tax legislation […] September 10, 2024
Opinion Tourism The controversial painting primed to become Riyadh’s crown jewel Leonardo da Vinci's Salvator Mundi is poised to be a cultural anchor for the Saudi capital September 9, 2024
Economy Jordan’s growth to moderate this year but pick up by 2026 Jordan’s economic growth is expected to moderate to 2.3 percent this year due to the indirect impacts of the increase in regional tensions, which have hit investment and tourism numbers. However, the growth is expected to rebound toward 3 percent by 2026-2027 as the economy adapts to the initial shock of regional instability. “Authorities’ efforts […] September 9, 2024
Tourism Saudi Arabia scraps hotel licence fees to draw investment Saudi Arabia has removed licensing fees for hotels and resorts in a further effort to increase tourism and improve the kingdom’s investment environment. The Ministry of Tourism and Ministry of Municipalities and Housing said they would ask hotel establishments to reapply for operating licences online. The decision applies to hotels, hotel apartments and residential resorts. […] September 6, 2024
Real Estate ADQ’s Egypt project lights fire under region’s real estate The $35 billion investment by the Abu Dhabi sovereign wealth fund ADQ in Egypt’s tourism sector appears to have spurred a jump in real estate transactions on the country’s Mediterranean coast. In February ADQ unveiled its plan to build Egypt’s “largest new city” in Ras El-Hekma, and develop the coastal region into a Mediterranean vacation […] September 2, 2024
Leisure & Hospitality Dubai’s Sunset Hospitality expands global portfolio Sunset Hospitality Group (SHG) has acquired a majority stake in Maximal Concepts Holding, a Hong Kong hospitality company, as part of its strategic expansion plan. The acquisition will diversify Dubai-based SHG’s portfolio and facilitate its expansion into key markets such as the US, Canada, Hong Kong, South Korea, Thailand and Vietnam, the company said. SHG, […] August 30, 2024
