Dubai CommerCity, the first and leading free zone dedicated exclusively to digital commerce, and a joint venture between the Dubai Integrated Economic Zones Authority (DIEZ) and Wasl Properties, has recorded unprecedented growth in its digital trade operations and online portal during 2023, marking a significant increase compared to the previous year. The volume of goods processed through its transit platform, DCC Way, increased by 56% in 2023, while the number of orders fulfilled via its digital trade platform grew by 158%. Additionally, there was a 92% increase in goods shipping operations from distribution centres facilitated by its digital trade platforms. Abdulrahman Shahin,

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. 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)

Sri Kurumba Educational and Charitable Trust, that was established in 1994 by Mr PNC Menon and Mrs Sobha Menon to run various philanthropic projects (including the CSR programs of SOBHA Ltd) has taken a significant stride towards providing secure and safe homes to the rural poor, totally free of charge. This initiative of Sobha Community Home Project – “Griha Sobha 2024”, provides free housing benefit to 220 women-led underprivileged families in Palakkad district, aiming to address the pressing issue of inadequate housing experienced by underprivileged families in India. In the recent inauguration event, the Sri Kurumba Educational and Charitable Trust celebrated

DAMAC Properties, a leading luxury real estate developer in the UAE, announced that the Cavalli Tower, its inaugural branded residential tower project in the UAE is on target for completion. Situated in the vibrant Dubai Marina, adjacent to DAMAC’s Ocean Heights, the 71-storey Cavalli Tower will set a new standard in luxury living for the city, embodying the bold elegance synonymous with the Cavalli brand. The tower is conceptualised by Shaun Killa, award-winning architect, and design partner at Killa Design. Progress on the tower is underway, with 28% completion. External and internal finishings will commence in June 2024. In 2019, DAMAC

Dubai’s emergency response teams demonstrated high levels of preparedness in managing emergency situations caused by adverse weather conditions throughout the emirate. Dubai authorities deployed a total of 2,300 personnel from across various entities including Dubai Municipality, Roads and Transport Authority (RTA), Dubai Police, the Mohammed Bin Rashid Housing Establishment, and Nakheel to respond to emergencies and mitigate the impact of heavy rains that struck the UAE this weekend. The teams were equipped with over 700 units of equipment including 250 tankers, 300 rainwater pumps, over 180 emergency vehicles, field survey vehicles, machinery and other heavy equipment, to deal with water-logged conditions. Dubai Police

As Dubai’s economy continues to expand, mobility and the transport sector are also expected to keep pace. This means more vehicles on the road and correspondingly, an equal demand for more parking spaces across the city. Parkin PJSC – the sole operator of public parking spaces across Dubai – noted when it announced its initial public offering (IPO) on the Dubai Financial Market late last month that demand for parking space in Dubai is expected to grow by 60 per cent by 2033. Developing new paid spaces to meet the demand is among the key growth drivers for Parkin. Another growth opportunity

After living in a rented apartment for 40 years, MK* dreamed of buying a property for his family. After much research and deliberation, the expat (who was born and raised in the UAE) finally chose a property at Falconcity of Wonders - Eastern Residence worth Dh4 million. But after investing Dh1.6 million into the property, he is now unsure if he will get his dream home or his money back. MK is not alone. Hundreds of other individuals in Dubai, who invested in the same project, are currently living in fear of losing their homes and life savings after the plots

Sobha Realty, a global leading real estate company in the region, received the ‘Great Place to Work®’ certification by the renowned Great Place to Work organisation, the global authority on workplace culture, employee experience, and leadership behaviours. The recognition stands as a testament to Sobha Realty's continued commitment to creating a supportive work environment where members can thrive, support the company's success, and achieve professional fulfilment. Ravi Menon, Co-Chairman of Sobha Realty, said, “This certification is evidence of our success in fostering a positive work atmosphere for our team members. We empower our team members to grow in their positions and

Nasdaq Dubai welcomed the inaugural Sukuk listing by Binghatti Holding, a leading Dubai-based property developer on the region’s esteemed international financial exchange. The debut issuance, valued at US$300 million, emphasises the pivotal role of Sukuk financing within the regional financial landscape. The listing further enhances Nasdaq Dubai's position as a premier venue, reinforcing its role in facilitating innovative financial instruments, contributing to the exchange's expanding portfolio of listed debt securities. The issuance holds particular importance in diversifying financing options for the real estate sector. Binghatti's Sukuk listing sets a new standard as the first real estate benchmark USD-denominated Sukuk from MENA in 2024,

UAE real estate developer Binghatti Holding has listed its inaugural $300 million sukuk on Nasdaq Dubai. Binghatti’s listing is the first real estate benchmark US dollar-denominated sukuk from MENA in 2024. With a coupon rate of 9.625% and maturing in 2027, the sukuk issuance was over two times over-subscribed and priced with a 30 basis points tightening resulting from investor demand, a release stated. Fitch Ratings recently awarded Binghatti Holding a B+ credit rating with a positive outlook. The company recently announced its third luxury branded residences project with Mercedes-Benz, following up on previous collaborations with Bugatti and Jacob & Co., with a total