News

The UAE is the only country in the MENA region within the top 10 UAE ranks 5th behind Switzerland, Singapore, Denmark and Sweden The UAE is the fifth most change-ready country in the world, according to KPMG’s 2019 Change Readiness Index report, which ranks countries on their preparedness for change and their ability to respond to it. The UAE followed Switzerland, […]

International real estate investors are inadvertent currency speculators, facing currency risk from unhedged investments. As a result, they receive two returns: the performance of the real estate asset  itself, plus the return on the currency used to purchase the security. Currency volatility can be significant, and the return from the currency can sometimes swamp the gain or loss on the […]

Bahrain, Kuwait, Qatar and Iraq are more exposed to potential blockade of Strait of Hormuz UAE and Saudi Arabia have alternative routes for oil transport Oman’s major ports located outside of Gulf Should geopolitical tensions between the US and Iran continue to escalate following oil tanker attacks in Gulf waters, Iran may choose to act on its threat of blocking […]

Real estate data platform Property Monitor has released its Dubai House Price Index for May 2019. The index has been tracking the prices of a selection of properties since September 2015. The Dubai House Price Index revealed that prices declined by 14.5% annually in May 2019, and by 1.5% month-on-month. The average house price in May was AED 2.5 million, […]

His Highness Sheikh Mohammed bin Rashid al Maktoum, Prime Minister of the UAE and Ruler of Dubai, has announced a new permanent residency scheme for residents in the UAE. The new “Golden Card” scheme will initially grant 6,800 select investors whose total investments exceed AED100 billion. In a tweet, Shiekh Mohammed said, “We launched today a permanent resident system named […]

Report gives sector-level analysis across residential, retail, office, industrial and hospitality property Includes pricing research and analysis of real estate trends in Kuwait in 2018 and 2019 Key projects and master developments as part of New Kuwait 2035 Plan Cavendish Maxwell, a leading property consultancy and chartered surveying firm in the Middle East, released its first Kuwait Property Market Report […]

Drop in certificates of deposit in banks to AED 139.2 billion, from AED 146.5 billion in February AED 12.4 billion-worth of excess liquidity withdrawn in December 2018 Analysts said move could generate more business momentum The Central Bank of the United Arab Emirates (CBUAE) pumped AED7.3 billion into the country’s market in March 2019 according to a statement in WAM. […]

BPGIC to develop new refinery providing cleaner fuel for ships First phase to be completed by Q1 2020 Storage capacity to increase to approximately 1 million cubic metres UAE-based terminal operator Brooge Petroleum and Gas Investment Company (BPGIC) is to build a new refinery in Fujairah. The proposed refinery will produce 250,000 barrels/day of bunker fuel, according to a company […]

Positive results for Saudi Arabia’s economic reforms Consumer price index inflation due to VAT introduction and energy prices Increased oil and non-oil revenues despite Q1 2019 budget After the recently concluded article IV consultations with Saudi Arabia, the International Monetary Fund (IMF) has announced that the kingdom’s economic reforms have started to yield positive results. Non-oil growth, a key objective […]

GCC awarded construction contract for Abu Dhabi’s Jubail Island mega-project Jubail Island to feature more than 800 residential properties Arabtec awarded contract for the construction of 322 villas in Dubailand Jubail Island Investment Company (JIIC) has appointed Gulf Contractors Company (GCC) to prepare Jubail Island for construction, according to a recent statement. JIIC are the developers for the proposed mixed-use […]