Dubai

DIEZ net profit rises 18 percent in H1 2024, further supporting Dubai’s non-oil economy

The total number of DIEZ-registered companies saw a 4 percent rise during the first half of 2024

Dubai South grants $40.83 million construction contract for ‘South Living’ project

The project is set for completion by Q1 2027, with 209 units, including studios and 1- to 3-bedroom apartments 

Electric air taxis in UAE: U.S.-based Joby applies to become certified operator

In February 2024, Joby signed a definitive agreement with Dubai’s RTA to launch air taxi services in the emirate

Dubai, Abu Dhabi top 2024 global real estate transparency index regionally

Dubai has retained its position as the only property market in the MENA region to feature in the 'Transparent' tier

Dubai’s dnata secures multi-year ground handling agreement with EasyJet at Zurich Airport

dnata will provide a full range of safe and reliable passenger, ramp, and baggage services for the low-cost airline

Nasdaq Dubai welcomes $400 million green bond from Bank of China

With the addition of this listing, the total value of bonds listed on Nasdaq Dubai by the Bank of China reaches $1.47 billion

UAE targets $27.2 billion in tourism investments by 2031, increasing GDP contribution to $122.5 billion 

In 2023, tourism accounted for 11.7 percent of the UAE’s GDP, amounting to $59.9 billion

Dubai Metro marks 15 years of success: Over 2.4 billion passengers and 4.3 million trips with 99.7 percent punctuality

Currently, the metro serves around 730,000 passengers daily, making it the preferred transportation choice for many

Dubai Chambers supports expansion of Chinese investors into Dubai with new agreement

Agreement enhances the ability of companies operating in Dubai to enter the Chinese market and build promising business partnerships in Tianjin

Dubai to welcome 22 floors of sustainable luxury living with $54.4 million upcoming residential development

Loutraki International is investing in Dubai’s real estate market through the Santorini Residences project

Softlogic partners with Daikin to advance UAE’s commercial air conditioning industry

The partnership is formed amidst a booming UAE air conditioning market worth over $650 million, driven by real estate growth

Dubai welcomes 10.62 million international tourists in first 7 months of 2024

Western European countries topped the list of tourists to Dubai, with about 2.086 million visitors

Dubai RTA completes 4.6 km Umm Suqeim improvement project, reducing traffic by 40 percent during peak hours

The authority launched 200 new temporary parking slots and a 500-meter roadway

Dubai’s real estate market sees 40.8 percent rise is sales value to $13 billion in August

Apartment sales across Dubai’s real estate market rose 37.6 percent annually to 12,268 with a value of AED23.5 billion

ADNEC’s Tourism 365, Resorts World Cruises partner to boost regional cruise tourism growth

Arabian Gulf deployment to include key locations such as Sir Bani Yas, Abu Dhabi, Dubai, Muscat, Khasab and Doha

flynas launches inaugural flight at Zayed International Airport, linking Saudi Arabia and UAE with affordable travel

This new route will benefit business and leisure travelers, boosting tourism and trade between the two countries

Nasdaq Dubai lists $400 million bonds from Agricultural Bank of China

The $400 million note, issued under the $15 billion medium term note program, is due in 2027

Sharjah Airport welcomes first flights of Saudi Arabia’s flynas, boosting international connectivity in the UAE

flynas will operate seven weekly flights from Jeddah and two from Madinah to Sharjah Airport, using Boeing 737s

UAE approves consolidated financial statistics for 2023 with $39.2 billion government surplus 

Last year, the country attracted a record $30.49 billion in foreign direct investment, ranking second globally

UAE to host major global events in September: All you need to know

The DIFC will host the inaugural Dubai AI & Web3 Festival on September 11-12 at Madinat Jumeirah

UAE oil imports to Japan reach 31.07 million barrels in July 2024, 49.1 percent of total

Arab oil made up 97.8 percent of Japan's imports, totaling 61.92 million barrels

Kuwait Warba Bank’s $500 million sukuk issuance on London Stock Exchange draws $1.8 billion in 3.5x demand

These five-year sukuk support projects advancing ESG goals aligned with sustainability objectives

Abu Dhabi, Dubai launch unified parking permit system for people of determination

Initiative falls in line with ongoing efforts to support the nation's drive toward sustainability and digital transformation

Dubai RTA opens two new major bridges on Al Khail Road, travel time to be cut by 30 percent

These newly completed bridges stretch 1,350 meters and can accommodate approximately 8,000 vehicles per hour