Dubai has approved a total budget of more than AED11 billion ($3.15 billion) for development of its strategic projects through 2040 - including AED9.59 billion ($2.61 billion) for future-ready infrastructure and AED2 billion ($544 million) for extension of the Dubai Metro to Al Maktoum International Airport City.
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Dubai developer Nakheel has unveiled Palm Springs, a 3.8 million sq m residential masterplan adjacent to Palm Jebel Ali in southern Dubai featuring a mix of villas, townhouses and apartments. Planned for 50,000 residents, it will bring together homes, education, healthcare, sport and leisure facilities across 15 neighbourhoods.
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Dubai master developer Emaar has announced that a new commercial and office district spanning 300,000 sq m is being planned alongside Dubai Square in Dubai Creek Harbour, at a total investment of AED12 billion ($3.27 billion). It will include direct access to two metro stations and Dubai Square, alongside four hotels and three urban parks.
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The GCC countries have signed the landmark General Railway Agreement at a high-profile regional transport ministers' meeting in Bahrain. The Gulf bloc plans to complete a 2,117-km-long railway network connecting all six member states - from Kuwait to Oman - with full operations targeted by 2030-end.
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GCC capital markets have witnessed significant development in recent years, driven by governments’ efforts to diversify funding sources and deepen capital markets, said top rating agency Fitch, adding the combined market capitalisation of listed equity markets across the Gulf region stands at around $4 trillion.
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The National Infrastructure Fund (Infra) and Humain, a Saudi PIF company delivering full-stack AI capabilities globally, have announced the signing of two financing deals worth SAR2.5 billion ($667 million) to support AI computing deployment and the development of critical power infrastructure in the kingdom.
UAE-based Samana Developers said its real estate brand Samana Collecta has joined hands with Maserati for the launch of its flagship destination in The World Islands, Dubai. The Maserati Island features 840 branded residences alongside seven ultra-exclusive water villas and two tree villas.
Egyptian group Madkour Projects said it has secured a key contract from Oman Electricity Transmission Company, a member of Nama Group, to build a 400kV grid station at Sadaf. The contract also covers the associated 400kV loop-in loop-out (LILO) link from the Suwaihat-Duqm Industrial Grid Station line.
The UAE's non-oil foreign trade reached AED2.945 trillion ($800 billion) in the first nine months (9M) of 2026, up 10.1% on the same period last year and approaching the AED3 trillion mark for the first time.
An administrative building belonging to Saudi Aramco in Riyadh was subjected to an attempted attack on Sunday (November 8), an official source at the Ministry of Energy stated.
The Gulf states are studying the possibility of establishing a regional water interconnection network and expanding their existing electricity interconnection system to strengthen resource security and ensure the continuity of essential services, said a top official after a utility committee meeting.
Ardara, a company of Saudi wealth fund PIF, said early construction works have begun on the first cluster of its AlWadi development in Abha. On completion, the 2-million-sq-m development will boast 7,306 apartments, 90 villas and townhouses as well as 2,783 hotel keys.
China’s Jereh Oil & Gas Engineering has secured three major oil and gas development packages from ADNOC Onshore with a combined contract value of $2.7 billion. These packages cover Ruwais Diyab unconventional gas project, Bab/North East Bab facilities and Bu Hasa facilities development.
Abu Dhabi's real estate transactions for the first nine months of 2026 surged by 76.1% to hit AED171.26 billion ($46.6 billion) mainly driven by the mortgage activity and a 32% surge in transactions for the period, said a new report. The foreign investment in Abu Dhabi’s investment zones too grew by 131% year-on-year.
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