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OVER 630,000 JOBS CREATED
Aviation sector contributed $37bn to Dubai’s economy in 2023
Dubai’s aviation sector, comprising Emirates Group, Dubai Airports (including DXB and DWC), and other aviation sector entities are set to have contributed AED137 billion ($37 billion) to Dubai’s GDP last year, according to a study by Oxford Economist.
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BIG INFRASTRUCTURE BOOST
SWPC set to launch $12bn new water projects in next three years
Saudi Water Partnership Company plans to launch 18 new water projects worth SAR45 billion ($12 billion) within the next three years. Of these projects, the contracts for eight of them are expected to be awarded in the next 12 months, said a top official.
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LIVESTOCK, MANUFACTURING ON TOP
Saudi Arabia nets $9bn in private funds for sustainable agriculture
Saudi agriculture, food sector has recorded a significant surge in private sector investments with the total hitting SAR37 billion ($9.8 billion). The FDI covers a wide range of projects including livestock, manufacturing and infrastructure development.
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Spanish group RCR to design 73-storey mixed-use project in Dubai
Spanish group RCR Arquitectes has joined hands with Dubai-based Muraba to create a 73-storey sanctuary inspired by centuries old tradition. The Muraba Veil will feature 131 residential units along with a range of curated leisure amenities.
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Bhima Jewellers eyes $272m funding for big GCC expansion
Bhima Jewellers, a leading Indian jewellery group, has unveiled its aggressive expansion plan for GCC region, targeting 15 stores in UAE in the next three years. The group aims to raise AED1 billion ($272.2 million) from HNWIs and FIIs to fund the plan.
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Masdar, EDF consortia in race for $2bn Saudi solar projects
Consortiums of top utility developers including Abu Dhabi's Masdar, French group EDF as well as TotalEnergies have been shortlisted by Saudi Power Procurement Company for development of SAR8 billion ($2 billion) solar projects.
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Former CBB official named Singapore Gulf Bank board member
Singapore Gulf Bank, the digital bank backed by Bahrain wealth fund Mumtalakat and privately-held Singapore-based investment firm Whampoa Group, has announced the appointment of Shaikh Salman Bin Isa Al Khalifa as an independent director on SGB’s board.
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Employee benefits gap poses risks to retaining talent
Over 90% of employees across the GCC region rank employee benefits as a key factor in their job satisfaction, yet a significant number feel their expectations are not being met, according to new research.
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Silver Line Gate breaks ground on its Dubai Industrial City hub
Silver Line Gate, a leading food and beverage (F&B) group, has started work on its integrated hub located within Dubai Industrial City. The key manufacturing, warehousing and office facility, spanning across a 1.37 million sq ft area, opens next year.
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Six Senses to launch four new properties in 2025
Bangkok-based Six Senses Hotels Resorts Spas, renowned for its sustainable luxury and diverse portfolio of properties, has announced the addition of four new properties in London, Saudi Arabia’s Red Sea, Milan and Dubai, to its 2025 collection.
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Batelco to deliver smart building solutions at District Courtyard Mall
Bahrain's leading telecom company Batelco has signed an agreement with Mayflower Investment to deliver a comprehensive suite of smart building solutions, including CCTV, advanced cabling, IBS and Smart TV at its District Courtyard Mall in Hamala.
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Beautyworld Middle East to showcase ‘clean’ and ‘conscious’ brands
The 28th edition of Beautyworld Middle East 2024, one of the region’s largest international trade shows for beauty and wellness, will present brands that are changing the way the sector looks at sustainability, when it gets underway in Dubai from October
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Saudi Arabia launches pilot programme for hydrogen-powered taxi
The Saudi Transport General Authority (TGA) has launched the pilot phase for hydrogen-powered vehicles in the private taxi sector, thus marking a significant milestone for the kingdom. These vehicles have a 350km range and can run for eight hours a day.
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WHO Investment Round wins $1bn in commitments
The World Health Organization (WHO) has received nearly $700 million in new funding commitments from European countries, foundations and others, and another $300 million in reaffirmed commitments.
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Pop legend to perform in Abu Dhabi in April 2025
Sting, a 17-time Grammy Award winner, will perform in Abu Dhabi, on April 3, 2025, as part of his Sting 3.0 World Tour presented by Live Nation Middle East. The band will deliver electrifying hits and rarities from the pop legend’s timeless discography.
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PIF sets up new firm to meet Saudi staff housing demand
Saudi wealth fund PIF has announced the establishment of SARCC (Smart Accommodation for Residential Complexes Company), a new entity that will meet the growing demand for accommodation solutions for both public and private projects across the kingdom.
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One-third of new UAE board members are women: report
Board diversity in the UAE is on a promising rise, with a significant increase in first-time board members and a stronger presence of women, who account for one-third of the new members.
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