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30 April 2019
The Global Wealth Migration Report for 2019, developed by AfrAsia Bank and New World Wealth, disclosed its wealth migration figures for the UAE recently. The report found that nearly 2,000 high net-worth individuals (HNWIs) – with assets worth at least US$1 million – moved to the UAE in 2018, representing a 2% increase compared to 2017. Dubai alone attracted over […]
29 April 2019
A new report by the Institute of Chartered Accountants in England and Wales (ICAEW) suggested a marginal improvement in GCC GDP growth in 2019. According to the report, the GCC is expected to post an economic growth of 2.3 percent in 2019, up 0.3% from 2018, with the main source of growth coming from the non-oil sector. In spite of […]
28 April 2019
Dubai-based DP World and international partners SMS Group have entered into a joint venture that could revolutionise the way containers are handled in ports. The new intelligent system, called Boxbay, is a high bay storage system that will be piloted for the first time at Jebel Ali Terminal 4 in time for the Dubai Expo 2020. The patented design and […]
25 April 2019
Chinese SMEs in Dubai are primed to expand their presence in Dubai as Singapore-based Samanea joined hands with Hala China in a new initiative according to a statement from the company. Hala China is based in Dubai, which is home to nearly 3,000 Chinese companies, and was jointly launched by property developers Meraas and Dubai Holding in 2018 to enhance […]
24 April 2019
Report suggests Expo 2020 will create nearly 50,000 full-time jobs Event is expected to account for nearly half of 1% of UAE’s total GDP More than 25 million visitors expected in Dubai for Expo 2020 As Expo 2020 approaches, many businesses are hoping to affect a turnaround from the current economic downturn. According to the latest Ernst & Young (EY) […]
23 April 2019
At the recently concluded World Economic Forum held in Jordan, the UAE government announced that it will grant long-term visas for the top 100 start-ups. Currently, the scheme is valid for Arab start-ups, including promising technology ventures in Egypt, Morocco and Palestine, and is expected to be extended to other regions soon. The new five-year visas, announced by Abdulla bin […]
22 April 2019
Property Monitor, the UAE’s leading real estate intelligence platform from Cavendish Maxwell, has released its Dubai House Price Index for March 2019. The index has been tracking the prices of a selection of apartments and villas/townhouses since September 2015. The index indicates that the average annual house price in Dubai decreased by 12% in March 2019, with some communities registering […]
18 April 2019
The next 12-24 months could potentially have adverse effects on the asset quality of GCC banks, according to leading analysts. Loan impairments are likely to go up as a result of less supportive economic environments and mandatory loan classifications under new International Financial Reporting Standards (IFRS) 9, which could result in asset value deterioration in the GCC. According to Mohammad […]
17 April 2019
Soft demand and pressure on prices continue in Q1 2019: Cavendish Maxwell UAE Property Market Report
Cavendish Maxwell, a leading property consultancy and chartered surveying firm in the Middle East, released its UAE Market Report for Q1 2019, containing key property data and trends for Dubai, Abu Dhabi and the northern emirates. The report is the firm’s first comprehensive quarterly report on the health of the UAE’s property market as a whole, covering the residential, commercial, […]
11 April 2019
By: Adam Fitzpatrick, Associate Partner, Cavendish Maxwell Oman The development of Oman’s tourism infrastructure has been a talking point since the Oman Tourism Strategy 2040 (OTS) was announced in 2016. The 24-year plan is central to the country’s economic diversification strategy, particularly with its significant appeal for tourists, from the natural beauty of its mountains, coasts, deserts and wadis, to […]
10 April 2019
By: Adam Fitzpatrick, Associate Partner, Cavendish Maxwell Oman Retail activity has gripped the region in the past 10 years with the construction of more impressive complexes, new grand retail malls, big retail concepts and entertainment centres to create family day experiences. The change in Muscat, and Oman overall, has been no different as the shopping experience has evolved from the […]
7 April 2019
Plans unveiled at 5th Edition of the Retail Leaders Circle MENA Summit AED 4.5 billion mall will integrate a logistics hub with brick-and-mortar stores New infrastructure will make Reem Mall the first fully digitally-enabled smart shopping centre Reem Mall, being developed by Al Farwaniya Property Developments, a partnership between Agility, Agility affiliate United Projects for Aviation Services (UPAC), and National […]
