Opinion Retail Twenty years of Souk Madinat Jumeirah: Dubai in microcosm The anniversary of of Dubai's famous souk prompted a trip down memory lane October 4, 2024
Analysis Real Estate Off-plan luxury projects drive real estate risk in Dubai The rapid growth in off-plan development, particularly luxury properties, is injecting vulnerability in Dubai’s otherwise solid real estate market. Developers launched 391 projects in Dubai between January and mid-September, a 43 percent year-on-year increase. Many of the apartment towers in the pipeline are designed as high-end, and often branded, residences. “I feel there’s an oversupply […] October 2, 2024
Employment Saudi unemployment drops again in second quarter The unemployment rate for Saudi nationals fell to 7.1 percent in the second quarter of 2024, government data shows, down from 7.6 percent in the first quarter and 8.5 percent in the same period a year ago. The overall unemployment rate, which includes expatriate workers, dropped to 3.3 percent in Q2, down from 4.1 percent […] September 30, 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
Analysis Employment Oman’s fine line between labour localisation and growth Oman this week tightened restrictions on foreign workers’ ability to take on certain jobs in industries including real estate, construction and hospitality. In another labour law revision of this kind in the past two years authorities banned expatriates from serving in some oil and gas engineering roles, the real estate maintenance space, and as travel […] September 5, 2024
Opinion Employment GCC has an opportunity to change the retirement game Expatriates are concerned that current schemes lack comprehensive benefits September 3, 2024
Analysis Retail Retailers rejoice as shoppers prepare for new school term An estimated 1.5 million students across the UAE are expected to enrol for the new term on Monday – and retailers are welcoming the traditional spending spree for everything from school uniforms to stationery. This year’s back-to-school shopping sales in the UAE are predicted to reach about AED3 billion ($820 million). “Overall, there is expected to […] August 25, 2024
EXCLUSIVE Banking & Finance Fintechs having ‘no impact’, says remittances CEO Fintechs are no threat to the UAE-based remittances company Al Fardan Exchange, its CEO Hasan Al Fardan has declared. Al Fardan said there was no intention to drop fees to compete with finance technology startups. To date, he said, fintechs have had “no material impact on our business or our operations. We are hitting record […] July 16, 2024
Finance Expat remittances from Saudi rise 12% to $3.4bn Expat remittance from Saudi Arabia jumped by 12 percent year on year to SAR12.6 billion ($3.4 billion) in May, according to the Saudi Central Bank (Sama). Remittances rose 11 percent month on month, or SAR1.3 billion, in May, the central bank said. Globally, remittances to low- and middle-income countries grew by an estimated 3.8 percent […] July 10, 2024
Analysis Health Affordable healthcare in the GCC: a prescription for profit The GCC’s affordable healthcare market is ripe for investment, research suggests, as patients are forced to travel to India, Thailand or Egypt to find cheap treatment. Low-income inhabitants make up about 38 percent of the Gulf’s total population, according to Mansoor Ahmed, executive director for healthcare at Colliers Middle East in Dubai. The proportion ranges […] July 10, 2024
Video length: 08:38 Opinion Finance My election forecast: UK nationals in Gulf should brace for tax reforms A new Labour government will need to raise taxes and GCC residents will not be immune July 2, 2024
Real Estate Expats scramble for housing in Riyadh Saudi Arabia’s historic development push – and an influx of foreign professionals looking to play a part in it – is putting the spotlight on a dearth of prime residential properties in the capital Riyadh. High-quality homes are snapped up, often finding tenants before or within days of getting listed, said Sujith Chandar, Saudi-based Emea […] June 21, 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
Analysis Real Estate What Dubai’s united nations of property buyers want When purchasing a property in Dubai amenities are important to Brits, while Indian buyers are all about the return on investment, according to real estate experts. Last year Dubai recorded 1.6 million real estate transactions, a record 17 percent year-on-year increase, according to data from the Dubai Land Department. The demand comes from a largely […] March 25, 2024
People & Lifestyle UK’s non-dom shake-up to attract high earners to Gulf There is likely to be an influx of expats and returning nationals to the Gulf as a result of the UK’s abolition of non-domicile tax status from April 2025, experts told AGBI. ‘Non-doms’ live in the UK but claim to have a permanent residence in another country, so they do not pay tax on overseas […] March 15, 2024
Real Estate Super-rich Muslims seek homes in Saudi holy cities Wealthy Muslims are keen to take advantage of golden residency visas in Saudi Arabia to buy nearly $2 billion of property in Mecca, Medina and Riyadh, according to new research. Just over 500 high-net-worth individuals from nine countries with a sizeable Muslim population – Algeria, India, Indonesia, Iraq, Iran, Malaysia, Pakistan, Singapore and Turkey – […] March 14, 2024
Employment UAE to invest $1.7bn to place more Emiratis in private sector jobs The UAE is aiming to add 36,000 Emiratis to the private sector workforce this year and has approved a $1.7 billion budget to support Emiratisation. The number of UAE nationals working in the private sector was about 92,000 by the end of 2023, according to the Emirati Talent Competitiveness Council. Nearly 42,000 joined private businesses […] March 6, 2024
Real Estate Hope at last for Dubai expats seeking a shared rental home Shared rental accommodation for expats in Dubai, something previously difficult to offer because of rules against subletting, is being developed by a company called Co-Living Legends, working with developers and landlords. Co-Living Legends was set up in 2021 to help female expats find house-share rental options in Dubai. House sharing is well established in markets […] February 9, 2024
Video length: 07:13 Analysis Real Estate Dubai mortgage surge as tenants flee rent rises There was a 40 percent increase in the value of home mortgage approvals in Dubai last year despite climbing interest rates, with tenants seeking to get on the property ladder to dodge rising rents, according to new data. Not since the 1980s, when the US Federal Reserve tried to curb inflation, have interest rates shot […] January 8, 2024
Video length: 07:13 Opinion Real Estate Something has gone wrong in Dubai residential real estate Policymakers must remember what makes the emirate attractive: value for money and quality of life January 5, 2024
Employment Zurich Middle East plots growth on needs of expats Zurich International Life, the Middle East division of Switzerland’s Zurich Insurance Group, is expanding its core business in response to rising demand from expatriates. With expats staying in the region for longer, there is a growing need for products and services such as life insurance, workplace savings plans and critical illness cover. There is also […] November 3, 2023
Employment Saudi Arabia should raise retirement age, study shows Saudi Arabia should raise the retirement age to create a sustainable pension system and institute other much-needed improvements, according to a study released this week. The Global Pension Index by Mercer, a New York professional services company, ranked Saudi Arabia – the leading Arab economy and world’s biggest oil exporter – at 28 out of […] October 20, 2023
