Saudi Arabia’s Public Investment Fund agrees $7bn credit facility with 20 international financial institutions
Industries
Dubai
‘Service industry is under threat’ warns Mr. Superprime, urging Dubai real estate agents to ‘protect’ jobs for future
The celebrity broker noted there were “threats to real estate agents across the world”
International Students
Public health, law, accounting and biological sciences emerge among top courses in high demand in 2024: Study
Institutions like Harvard University, Johns Hopkins University and Stanford Law School are leading the way in these emerging fields
Bayut
Dubai real estate: Best returns on investment, biggest price rises and largest rent hikes revealed as 2024 sales hit $133bn
Dubai real estate sector saw massive increases to real estate sales and rents last year
air travel
UAE air navigation centre reaches one million traffic movements in 2024
The milestone arrived on December 22, 2024 with Emirates Flight305 from Shanghai, marking what officials describe as a turning point in the UAE’s aviation sector
Dubai
Massive new RTA project to significantly ease traffic in Al Awir 1 area
The project includes building 16.5kms of internal roads and adding a lane to Emirates Road that extends from the entrance of Al Awir 1 to Sharjah
digital payments
Mashreq finalises $385mn sale of majority stake in NEOPAY
The UAE company retains a significant minority stake in the business after the sale to Arcapita Group and DgPays
Connectivity
Thuraya 4 set to enhance Space42’s capabilities after successful launch
The highly-advanced sixth geostationary satellite will help the UAE-based SpaceTech company’s plans to introduce 15 new products
Dubai
Dubai real estate market ‘fun and ferocious’ with ‘hot market’, says Mr. Superprime
Netflix star Daniel Daggers referred to Dubai’s market as a “sweet shop,” stating there would still be growth “but perhaps not in price values”
London
London’s super-prime home sales above $18mn drop 25% as wealthy buyers pull back
The market is expected to continue being driven by buyers from the United States and GCC, including Saudi Arabia, the UAE and Qatar
Cryptocurrency
New EU law to trigger exodus of crypto ventures flocking to UAE
The EU’s loss could be the UAE’s gain as new crypto regulations are expected to trigger an exodus of virtual asset firms flocking to Dubai and Abu Dhabi
Lebanon
Investors eye Lebanon real estate bargains amid price drop as fragile Israel-Hezbollah ceasefire holds
The current ceasefire has emboldened some investors to begin exploring opportunities in areas where prices have dropped significantly
Abu Dhabi real estate
UAE real estate: Property market transactions hit $243bn in 2024
Dubai led the real estate market with AED760.7 billion in transactions from 226,000 deals
Abu Dhabi
Abu Dhabi opens $85.7 million bridges to cut traffic by 80%
The bridges, developed through collaboration between DMT and the Integrated Transport Centre, will serve commuters travelling to the city, Zayed International Airport, Mussafah, and Hudayriyat Island in Abu Dhabi
Riyadh
Riyadh Metro completes network with Orange Line launch
The Riyadh Metro, which operates from 6:00 am until midnight, comprises six lines covering 176 kilometres with 85 stations, including four main stations, making it the Middle East’s largest metro and the world’s longest driverless train system
Jeddah
Saudi Arabia’s King Abdulaziz International Airport reports record-breaking 49.1 million passengers in 2024
The airport reached its peak on December 31, 2024, processing 174,600 passengers in a single day
Dubai
Emirates launches first A350 service with Dubai-Edinburgh route
The A350 is the first of 65 aircraft set to join Emirates’ fleet