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UAE hospitality sector sees 24 percent rise in occupancy in first quarter of 2022

Supply is also increasing with Dubai being the largest hospitality contributor across the Emirates The UAE hospitality market saw growth in occupancy in the first quarter of the year of 24 per cent, according to data from commercial real estate experts Colliers. Colliers’ executive director – Head of Hotels for the MENA region, Christopher Lund, said: “All markets in UAE saw an increase in performance levels in comparison to 2021, with Dubai and Sharjah observing the highest growth in occupancies. This can be attributed to increased demand during the winter holidays and last three months …

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Wrap-up: ATM 2022 draws 23,000 visitors as ideas, inclusivity, and tech beckon the future of travel

In addition to doubling visitor numbers, the 29th edition of the Arabian Travel Market (ATM) held at the Dubai World Trade Centre drew 1,500 exhibitors and attendees from 150 countries More than 23,000 visitors attended the 29th edition of Arabian Travel Market (ATM) 2022, as industry leaders gathered at the Dubai World Trade Centre (DWTC) to share insights into the future of international travel and tourism. The four-day live event – which was inaugurated by Sheikh Ahmed bin Saeed Al Maktoum, the president of the Dubai Civil Aviation Authority, chairman of Dubai Airports, chairman and chief …

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Dubai Council takes measures to boost real estate efficiency and transform tourism

The Dubai Council chaired by Sheikh Mohammed bin Rashid has restructured the Land Deparment to raise the real estate sector’s operational efficiency by a minimum of 20 percent The Dubai Council has approved a comprehensive restructuring of the Land Department in a bid to improve real estate and has launched a set of new development projects to transform the emirate’s countryside into a tourism destination. The decision were taken during a meeting of the Dubai Council chaired by Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai in the presence of Sheikh Hamdan bin Mohammed …

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Dubai ranks first in the world in attracting FDI projects in 2021

The emirate experienced significant growth in all key indicators compared to the previous year Dubai topped the global ranking as the most sought-after destination for greenfield foreign direct investment projects in 2021 on the back of “a sustainable economic environment and a vibrant business ecosystem for companies and entrepreneurs.” Dubai emerged as the destination of choice for 418 greenfield FDI projects in 2021, surpassing London and Singapore for the first time with a remarkable lead of over 50 FDI projects as it continued to maintain and improve on its lead position across key FDI attraction …

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What gaps need to be addressed to boost foreign direct investment into Dubai?

Different to investment attraction that thrives in the face of fierce competition, in what is a winner takes all game, investment aftercare nurtures what is based locally and seeks to create additional value for the economy. the lead author of Dubai’s FDI guide said There is a need to review the whole investment life cycle – which includes the post-investment stage – in order for economies to thrive, an expert told Arabian Business. While sufficient attention is given to attract investors into leading economies, quite often, budgets aren’t set aside to retain these foreign investors and …

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FDI into Dubai likely to remain strong in 2022

Dubai’s handling of the pandemic and business reforms has put the emirate in a good position to draw in further foreign direct investment Strong foreign direct investment flows into Dubai are likely to continue throughout 2022 as it continues to manage the Covid-19 pandemic well and on the back of business reforms in the Gulf city, experts told Arabian Business. Dubai, the financial hub of the United Arab Emirates, raked in AED15.9 billion ($4.3bn) in foreign direct investment across 378 projects in the first nine months of 2021, making it the third most popular destination for FDI …

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‘Made in The Emirates’ seal to be launched later on United Arab Emirates” Operation 300 billion ‘: Dr Sultan Al Jaber

Dubai: A special ‘Made in The Emirates’ seal is being launched as part of the United Arab Emirates’ highly ambitious’ Operation 300Bn’ industrial sector reform launched last month “The seal … is one of our most important initiatives that we plan to launch later,” said Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology of the United Arab Emirates, said. ‘It will be a quality brand that supports national products and services. ‘The brand wants to become a symbol for the best in class. The ‘Made in The Emirates’ seal is a …

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GIOVANNI BOZZETTI: NON FACCIAMO CHE EXPO DUBAI DIVENTI UN’OCCASIONE PERSA PER LE IMPRESE ITALIANE

BASTA CON LA LOGICA “AMAZON DEL BUSINESS” CHE CI RIMPROVERANO GLI EMIRATINI E CHE NON APPLICANO I NOSTRI PARTNER EUROPEI Con 24 milioni di visitatori Expo Dubai è stata un successo senza precedenti e un’occasione molto importante per le aziende italiane che vogliono iniziare nuovi business nel Paese. “Possiamo dirlo dopo 2 settimane dalla chiusura dell’Esposizione. Non facciamo che l’Expo diventi un’occasione persa” – sottolinea Giovanni Bozzetti, Presidente di EFG Consulting società di consulenza specializzata nel mercato emiratino, che ha accompagnato ad Expo 150 aziende italiane e autore del libro “Emirati: nulla è impossibile” (edizioni Mondadori) …

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European investors cause surge in demand in Dubai’s secondary property market: report

Properties in Dubai’s mid-to-luxury segment are seeing demand outstrip supply, super-premium properties are being bought quickly, and even the secondary market witnessed a threefold increase in in transactions in Q1 2022 Large numbers of European investors are snapping up ready properties in Dubai, resulting in a surge in demand in the secondary market, according to full-service real estate agency Metropolitan Premium Properties (MPP). The uncertainty in today’s geopolitical climate is driving European investors, business owners, and families to consider Dubai as key business and lifestyle hub, the agency said in a statement. The increased demand has resulted …

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From $15bn to $430bn: UAE diplomat on the secret of the nation’s success

Although a 50-year period is considered relatively short in the life of a country, the UAE proved time is not an important factor in a country’s development: Anwar Gargash With an economy that has grown from $15 billion in 1975 to $430bn at present, the UAE – which recently celebrated its 50th anniversary – proved that time is not a factor in the development of nations, said Anwar Gargash, diplomatic adviser to the UAE President. “A few months ago, we celebrated the 50th National Day of the UAE. It was a celebration of five decades and the achievement of …

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UAE Minister highlights competitive advantages for investors in the industrial sector

Dubai Industrial City is attracting global industrial projects by providing the environment and solutions that support their growth, Dr Sultan Al Jaber said In line with the Ministry of Industry and Advanced Technology’s strategy to grow the country into “a major hub” for advanced industries and to open up new markets for UAE-made products, Dr Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology, visited two factories in Dubai Industrial City (DI) on Wednesday. “Through these visits, we aim to discuss ways to provide a supportive business environment for local and international investors …

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Dubai: Hotel occupancy hit 15-year high in March, thanks to Expo 2020

The mega event expedited the recovery of the local economy after the Covid-19 pandemic Hotel occupancy in Dubai reached a 15-year high last month on the back of Expo 2020. Dubai’s hotel industry reported 90 per cent or better occupancy in any given month for the first time since 2007 in March, driven by the final weeks of Expo 2020, which concluded on March 31. Expo 2020 Dubai recorded over 24 million visits during the six-month-long event and welcomed 192 countries. The mega event expedited the recovery of the local economy after the Covid-19 pandemic. …

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UAE Cabinet approves establishment of Council for Digital Economy

The UAE Digital Economy Strategy aims to double the contribution of the digital economy to the GDP from 9.7 per cent to 19.4 per cent within the next ten years The UAE Cabinet met this week and approved a new Digital Economy Strategy that aims to increase the contribution of this sector to the GDP to 20 percent over the next 10 years. The meeting was chaired by Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai and was held at Qasr Al Watan Abu Dhabi. …

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Why the UAE will remain the best country for startups and entrepreneurs in the years to come

Government-led strategies, enabling policies, a strong regulatory framework, and a supportive local ecosystem have led investors and VCs to tap into a flourishing startup community, experts said The UAE has been ranked first globally as the best ecosystem for startups and entrepreneurs in 2022, ahead of the Netherlands, Finland, Saudi Arabia, and Lithuania, according to the Global Entrepreneurship Monitor’s (GEM) 2022 report, and experts have emphasised that the ranking is well deserved. The GEM report captures the perspectives of more than 2,000 relevant experts – at a minimum of 36 per country – across the 50 participating …

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Best place to start a business: UAE tops global ranking ahead of Netherlands, Finland, and Saudi Arabia

The GEM research reveals that supporting new businesses during hard times – such as during the Covid-19 pandemic – and supporting women entrepreneurs, should be key components in a strategy to promote entrepreneurship The UAE has outperformed the Netherlands and Finland to top the list of best countries for entrepreneurs, according to the Global Entrepreneurship Monitor’s (GEM) 2022 report, which assesses the conditions for entrepreneurs in 50 countries worldwide. Every year, the Global Entrepreneurship Monitor (GEM) presents its comparative assessment of national entrepreneurial conditions. The aim of this is to rank countries in terms of their ability …

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Dubai Ruler says “best is yet to come” as UAE’s GDP soars to $402.9 billion in 2021

The UAE’s real GDP growth rate beats analyst expectations to climb 3.8 percent in 2021, marking the highest growth in the region and surpassing the pre-pandemic growth margins of 2019 The UAE’s gross domestic product (GDP) has exceeded the estimates of analysts and specialised international institutions, rising to $402.9 billion (AED 1.489 trillion) in 2021. The UAE’s Federal Competitiveness and Statistics Centre revealed that the UAE’s real GDP soared 3.8 percent in 2021, claiming the highest GDP growth rate in the region while beating expectations of international institutions, which expected the country’s GDP to rise by a modest 2.1 …

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Shining the spotlight on Saudi Arabia: Improved oil prospects, diversification, and investment opportunities

Saudi Arabia’s economic rebound is drawing attention with an obvious boon from rising oil prices. Outside of hydrocarbons, the country is continuing to diversify and reform in a number of sectors as part of its ambitious Vision 2030 Saudi Arabia is experiencing positive momentum even amid a challenging investment climate and geopolitical tensions that are dampening growth elsewhere, according to Dina Ting, the head of Global Index Portfolio Management at Franklin Templeton ETFs. Reflecting expectations of improving GDP growth and medium-term fiscal dynamics, S&P Global Ratings revised its outlook on Saudi Arabia’s debt from stable to …

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UAE is the travel industry’s most recovered country in the world

The UAE has recovered to 110% of its 2019 levels… The UAE has been recognised as travel’s most recovered country post Covid-19, according to a new report by Travelport. A global technology company that powers travel bookings for thousands of airlines and hotels worldwide, Travelport’s just-released trend data shows that the UAE has recovered to 110% of its 2019 levels.-ADVERTISEMENT- Within that recovery, Dubai dominates, currently operating at 114% of 2019 levels. This makes Dubai not only the second most recovered city in the Middle East, but also the fifth most recovered city in the world. …

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UAE non-oil sector signals strong expansion in March

Employment levels in non-oil businesses picked up, marking the tenth rise in as many months The UAE’s non-oil sector signalled strong expansion in March, but one that was marred by intensifying inflationary pressures linked to rising commodity prices. The headline seasonally adjusted IHS Markit UAE Purchasing Managers’ Index (PMI) – a composite indicator designed to give an accurate overview of operating conditions in the non-oil private sector economy – posted 54.8 for the second month running in March. The reading was well above the 50.0 neutral mark to indicate a further sharp improvement in operating …

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How the UAE plans to become a leading space power in the region

Country’s space agency plans to excel further through public-private partnerships – similar to how Nasa evolved The global rise of the private space sector has helped show how governments cannot go it all alone when reaching for the stars and it is no different for the UAE. Over the next decade, the Emirates plans to invest more than Dh3 billion ($816 million) in the private space sector to grow the country’s capabilities in space. Economic zones dedicated to space activities will be set up across Abu Dhabi, Dubai and Sharjah to allow start-ups and established businesses to set up operations. Officials hope …

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UAE sets out six-month food security action plan to cut waste and prioritise local produce

The Emirates Food Security Council measures are aimed at building a more sustainable future A UAE food security task force has launched an action plan to cut down on waste, prioritise local produce in the marketplace and embrace technology to tackle pressing challenges facing the country and the world. The Emirates Food Security Council, of which Mariam Al Mheiri,Minister of Climate Change and Environment, is chairwoman, set out a list of recommendations at its first meeting of the year. The council called for agriculture and food data to be used at local and federal levels …

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Dubai Ruler Sheikh Mohammed Bin Rashid marks “new beginning for the UAE” as Expo 2020 draws to a close

For those who missed the closing ceremony, here’s a recap of the event, which was capped off with a heart-warming speech by Sheikh Mohammed bin Rashid Al Maktoum and a stunning performance by Christina Aguilera Marking the close of the six-month Expo 2020 Dubai, Sheikh Mohammed bin Rashid Al Maktoum, the Vice President and Prime Minister of the UAE and Ruler of Dubai, said that the end of the World Expo offers the opportunity of “a new beginning” for the UAE and the world. In an audio message delivered at the closing ceremony of the mega …

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Dubai starts on the complex process to create District 2020 out of the Expo site

Dismantling of all non-legacy structures at Expo site will be done in 3-6 months Dubai: Dubai is getting ready to welcome District 2020, a ‘smart city’ that will take shape in and around the Expo venue – and in no time emerge as the next big thing when it comes to choosing an office, a home, or a retail space. For now, however, the attention will be on repurposing the entire Expo site, starting with the dismantling of all non-legacy structures. That transition will be happening immediately, which is where companies like LC&Partners come in. …

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Dubai in the metaverse: Dubai Municipality to create a futuristic, virtual version of the city

The metaverse has become closer to reality than we could have imagined; residents could be joined by friends from other parts of the world in the form of avatars taking a virtual walk through a park in the city, the director-general of Dubai Municipality said Dubai Municipality has revealed plans to work with private sector companies and investors to create a futuristic, human-centred version of the city in the metaverse called One Human Reality. Speaking at a plenary session titled ‘Operating Cities of Tomorrow’ at the World Government Summit 2022 (WGS2022) in Expo 2020 Dubai the director-general of Dubai …

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Super Tuesday for real estate in Dubai sees AED1.9bn worth of property deals in a single day

New figures from the Dubai Land Department detail hundreds of deals as the property market continues to surge. Hundreds of property deals completed in a single day pushed the amount of real estate transactions to nearly touch AED2 billion in Dubai on Tuesday. According to the figures, Dubai’s real estate market recorded 474 sales transactions worth AED1.52 billion and mortgage deals of AED441.56 million, in addition to 11 gift transactions amounting to AED27.4 million on Tuesday, data released by the emirate’s Land Department (DLD) showed. The sales included 376 villas and apartments worth AED849.54 million, and …

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