“The various global challenges encountered over time have put our resilience to the test. Nonetheless, our objective is to achieve a 7% economic growth rate in 2024.” The UAE aspires to expand its economy and increase its gross domestic product to AED 3 trillion by 2030. The country experienced an 8% growth in 2022. The minister anticipates that the economy will see a 5% growth in...
With an aim to establish a joint development project at Al Reem Island in Abu Dhabi Dubai, UAE: Deyaar Development PJSC ("Deyaar"), one of the leading real estate developers and service providers in Dubai, the United Arab Emirates (UAE), and Arady Properties – PSC, an Abu Dhabi-based real estate company, have signed a Memorandum of Understanding with an aim to establish a joint development...
The Dubai real estate market has continued to significantly outperform many of its worldwide peers Abu Dhabi: – The Q2 2023 report by Asteco, the UAE’s leading full-service Real Estate company, revealed remarkable trends in the real estate markets of Abu Dhabi and Dubai. Both Emirates demonstrated great resilience in the face of rising interest rates and inflation. The Dubai real estate market has...
For the third consecutive time, Abu Dhabi has been ranked as the smartest city in the Mena region, according to the IMD Smart City Index report 2023. Published by the Switzerland-based International Institute for Management Development (IMD) in collaboration with the Singapore University of Technology and Design (SUTD), the report ranks Abu Dhabi 13th globally out of 141 cities, while Dubai takes the...
Developers say the problem is too many people looking for properties in the same areas. Dubai's population boom, paired with an influx of European property investors, is driving a housing shortage and a rise in rents, real estate experts have said. The city’s popularity has led to new properties selling out almost immediately, while soaring costs mean many current tenants and owners...
Jason Momoa is Yas Island Abu Dhabi’s newest chief island officer. The Hollywood star assumes the role after comedian Kevin Hart announced he was stepping down earlier this year. Hart first took on the role in May last year. “We are pleased to appoint Hollywood sensation Jason Momoa as the new chief island officer for Yas Island Abu Dhabi,” said Liam Findlay, chief executive of...
The total support provided by the scheme for the first group of 65 Emirati families amounts to $8.71mln UAE - Authorities in Dubai have launched a social initiative to support citizens with limited income who have received housing grants, but require additional funds for the construction or completion and furnishing of their homes. The ‘Bayti’ initiative aims to support and assist beneficiaries...
The rising trend of women investors is aided by the emergence of micro-investing apps, making it easy and affordable for individuals to invest small amounts of money regularly. The UAE’s growing women empowerment is helping the fairer sex to break yet another traditional male fiefdom – market investment, with the number of women investors in the country shooting up by a whopping 51...
The UAE Central Bank expects the country's economy to grow by 4.3 percent in 2024 and has maintained its growth forecast of 3.9 percent growth for the current year. The banking regulator projects that the non-oil economy will grow by 4.6 percent and oil gross domestic product by 3.5 percent next year, state news agency Wam reported on Monday. It expects non-oil GDP to rise by 4.2 percent and oil GDP...
Boating along the Corniche in Abu Dhabi. A number of new building projects have been launched in recent months. Khushnum Bhandari / The National Abu Dhabi investment company Q Holding and Egypt's Ora Real Estate Development Group have signed a partnership agreement to develop a smart and sustainable city in the Ghantoot area of the UAE capital. The mixed-use project will span more than 20 million...
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