In a significant move to empower domestic industries, the Dubai Department of Economy and Tourism (DET) has teamed up with the Dubai Department of Finance (DOF) to introduce the Dubai In-Country Value (ICV) Program. This strategic initiative is designed to reinforce the local manufacturing ecosystem by directing a larger share of government expenditure towards UAE-based suppliers. Implemented Through...
In 2024, Bollywood icon Shah Rukh Khan graced the stage at the prestigious World Governments Summit, delivering more than just a speech—he shared a moment that sparked global intrigue. Beyond reflecting on his journey and illustrious legacy, the actor casually revealed a fascinating fact: his next-door neighbour in Dubai is none other than Sheikh Mohammed bin Rashid Al Maktoum, the current ruler of...
Dubai, UAE – May 11, 2025 Prospect, a Dubai-based real estate investment and advisory firm, has entered into a strategic partnership with Mulk Properties, a subsidiary of Mulk International, to develop 'The LX'—a premium commercial project valued at AED 350 million in Arjan. This collaboration also includes One Broker Group (OBG), an award-winning real estate agency, as the exclusive sales partner for...
OMNIYAT, a renowned name in Dubai’s ultra-luxury real estate sector, has officially announced the successful listing of its first-ever green sukuk on NASDAQ Dubai. The company raised an impressive $500 million through this three-year Islamic finance instrument. This significant transaction marks OMNIYAT’s debut in international debt capital markets while reinforcing its strategic focus on long-term...
Dubai, UAE – May 2025 — Dubai Investments, a prominent investment company listed on the Dubai Financial Market, has posted a substantial 52% year-on-year growth in profit before tax for the first quarter of 2025. The company reported AED 185 million ($50.37 million) in pre-tax profits, compared to AED 122 million during the same period in 2024. This impressive growth has been attributed mainly to...
Follows group’s first debt issuance and underscores efforts to institutionalise operations Dubai, UAE – May 2025 – OMNIYAT Group, the parent company of the renowned ultra-luxury real estate developer OMNIYAT and its wider-luxury counterpart BEYOND, has announced the formation of a Strategic Advisory Board to spearhead its next era of growth, innovation, and global transformation. This move follows a...
Profit before tax rose to AED74 million, up 64 percent year-on-year RAK Properties has announced a revenue of AED 370 million (USD 100.7 million) for the first quarter of 2025, marking a 28% increase compared to the same period in 2024. 📊 This significant growth was driven by ongoing progress across various residential developments and a strong response to newly launched projects. The Q1 2025 financial...
Emirates Central Cooling Systems Corporation PJSC - Empower, the world's largest district cooling services provider, announced its financial results for the first quarter of 2025. Dubai, UAE – May 9, 2025 – Emirates Central Cooling Systems Corporation PJSC (Empower), the world’s leading provider of district cooling services, has announced its financial performance for the first quarter of 2025,...
Dubai recorded a 22.4 percent rise in average office rents and a sharp 40.8 percent jump in warehouse rates last month Dubai’s real estate sector delivered remarkable performance in April 2025, with residential property transactions surging to 17,447—a staggering 61% increase compared to the same month last year. At the same time, commercial rental activity experienced sharp growth, as average office...
Learn why off-plan sales lead Dubai’s property market. Join the real estate event from May 16–18 to connect with developers and explore new launches Dubai’s dynamic real estate market continues to thrive, with off-plan properties emerging as a key driver of growth. In 2024, off-plan transactions accounted for 60% of all property deals, contributing to a 35.5% year-on-year increase in total...