The merger of Dubai’s top master developers Nakheel and Meydan will diversify offerings for local and foreign investors and also ensure mega projects like Palm Jebel Ali rise to their fullest potential. Merged and brought under the umbrella of Dubai Holding, Dubai could see launches of more iconic, landmark and uber-luxury projects from the entity as the merger is crucial to realise the goals of the Dubai Economic Agenda (D33) and Dubai 2040 Urban Master Plan to place the city at the global map. With hundreds of billions of dirhams worth of assets under their belt, the developers will be key players

Air Arabia (PJSC) (DFM:AIRARABIA) shareholders approved the distribution of 20 percent cash dividend for the financial year ending December 31, 2023 at the company’s Annual General Meeting (AGM). The dividend, which is equivalent to 20 fils per share, underscores another year of record financial performance for the award-winning low-cost carrier. The Board of Directors’ recommendation follows the airline’s robust financial performance in the year ending December 31, 2023, where Air Arabia reported a record net profit of AED 1.5 billion, an increase of 27 percent compared to 2022. During the AGM, the report of Air Arabia’s auditors, balance sheet, as well as

Abu Dhabi–based Etihad Airways has reported a 46% year-on-year (YoY) growth in traveller numbers for the month of February, during which it flew more than 1.4 million passengers. Etihad stated that the passenger load factor for the month averaged at 89%. “Our year-to-date (YTD) passenger figures at 2.9 million are 40% higher than at YTD February 2023,” Antonoaldo Neves, CEO of Etihad Airways stated, adding that the month was a busy one for the airline, which took the delivery of three new 787-9s in a move “which is aligned to our network expansion strategy of adding new destinations and expanding frequencies into key

AG Auto, part of Al Ghurair Investment, one of the leading diversified UAE family businesses, has announced it will become a distributor of the SunTek brand, a renowned American automotive accessories brand owned by Eastman, with the formation of AG Car Care, which will serve as the distributor of SunTek products in the UAE. The distributorship brings together the quality and craftsmanship known for SunTek products with the expertise and market presence of AG Auto, expanding consumer choice to car users across the UAE beginning early 2024. SunTek is globally recognised for innovative technologies with window films and paint protection films backed

Dubai International Financial Centre (DIFC) announced the enactment of the world’s first Digital Assets Law, a new Law of Security and related amendments to select existing legislation to cater for the consequences of the new digital assets regime and revised security regime. The legislative enactments aim to ensure DIFC Laws keep pace with the rapid developments in international trade and financial markets arising from technological developments, and to provide legal certainty for investors in, and users of, Digital Assets. Following extensive review of the legal approaches taken to digital assets in multiple jurisdictions, and a period of public consultation in 2023, DIFC

Majid Al Futtaim (“the Group”), the leading shopping malls, communities, retail, and leisure pioneer across the Middle East, Africa, and Central Asia, today announced its operational and financial results for the full year 2023. The company demonstrated a resilient financial performance, reflecting its strategic approach to its diverse portfolio of businesses and the strength of its core operations. At year-end 2023, Majid Al Futtaim recorded a consolidated revenue increase of 1% to AED 34.5 billion, while EBITDA increased by 12% to AED 4.6 billion. The Group sustained growth across key performance metrics, underscoring its ability to generate healthy cash flows and

Majid Al Futtaim, a leading shopping malls, communities, retail, and leisure pioneer across the Middle East, Africa, and Central Asia, on Thursday announced a consolidated revenue increase of 1% to AED34.5 billion ($9.39 billion) in 2023, while EBITDA increased by 12% to AED4.6 billion. The company achieved a net profit of AED2.7 billion ($735.11 million), an increase of 12% year on year. The company demonstrated a resilient financial performance, reflecting its strategic approach to its diverse portfolio of businesses and the strength of its core operations, it said. The group sustained growth across key performance metrics, underscoring its ability to generate healthy cash

DHG Properties, a renowned Swiss real estate developer with a legacy of over three decades of excellence, cites that the Dubai real estate market noticed a 29.6% year-on-year increase in deal volumes driven by growth in both the off-plan market and secondary deals[1]. This is reinforced by the sales progress of DHG’s first project in the UAE; officially launched in February, Helvetia Residences is a 430-unit project situated in Jumeirah Village Circle (JVC) which entails world-class architecture. Construction has now commenced and the development is on schedule for a 2026 delivery. Dubai has one of the highest returns on investment (ROI)

Dubai International Financial Centre (DIFC), the leading global financial centre in the Middle East, Africa and South Asia (MEASA) region, enacts the world’s first Digital Assets Law, a new Law of Security and related amendments to select existing legislation to cater for the consequences of the new digital assets regime and revised security regime. The legislative enactments aim to ensure DIFC Laws keep pace with the rapid developments in international trade and financial markets arising from technological developments, and to provide legal certainty for investors in, and users of, Digital Assets. Digital Assets Law – DIFC Law No. 2 of 2024 Digital

As off-plan sales continue to dominate the market, Dubai is poised to witness the emergence of three new master communities in 2024, marking a significant phase of expansion for the emirate's real estate sector. Key Points: As off-plan sales continue to dominate the market, Dubai is set to see three new master communities emerge in 2024—no better time than now. Prices rose by 0.83% in February, signaling moderate yet consistent price appreciation. The market witnessed its highest-ever sales transaction volumes for February, up by an impressive 30.4% year-on-year. Mid-tier price points are experiencing notable market share growth, with Dubai Maritime City