Global World Citizen
During the peak of the global pandemic, as Dubai grappled with expatriate departures and rising competition from nearby business centers, the government made pivotal decisions. These choices are currently shielding the city from the commercial real estate downturn sweeping across the world.
The UAE has achieved a monumental milestone in its non-oil foreign trade sector, with the total value of goods and services reaching a historic high of AED 3.5 trillion in 2023.
Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, unveiled the latest figures in a post on X, emphasizing the country’s remarkable economic progress.
Dubai Witnesses Record-Breaking $173 Billion in Real Estate Transactions in 2023.
Dubai experienced a significant surge in real estate transactions, reaching nearly $173 billion in 2023, marking an all-time high for the emirate.
Wedding proposals in Dubai can reach staggering costs of up to AED250,000, shared an event planner with Arabian Business.
The trend leans towards “golden hour” settings along the coastline with views of the Burj Al Arab or rooftop venues overlooking the iconic Burj Khalifa, the world’s tallest building.
Jumeirah Group, a renowned luxury hospitality brand and a part of Dubai Holding, has unveiled its inaugural hotel in Saudi Arabia. Situated at the heart of Jabal Omar and within close proximity to the Great Mosque of Makkah, Jumeirah Jabal Omar Makkah signifies the company’s expansion both regionally and globally.
On Tuesday, February 6, Ghitha Holding PJSC, a subsidiary of Abu Dhabi’s International Holding Company, unveiled its agreement to purchase a 44 percent equity interest in MNG Havayollari ve Tasimacilik A.S. (MNG Airlines), a prominent commercial cargo firm based in Turkey.
Sharjah’s 53rd Watch & Jewellery Middle East Show (WJMES) is currently mesmerizing visitors with a dazzling array of creations, including a gold bike and scooter valued at AED3 million ($817,000), Egyptian artefacts worth AED4 million ($1.1 million), and Emirati clothing valued at AED1.3 million ($354,000).
The Middle East’s expansive $89 billion fashion market is poised for a significant shake-up as OSKELLY, the rapidly emerging East European fashion resale platform, prepares for its entry into the UAE. With ambitious plans to redefine the luxury fashion resale sector in the region, OSKELLY aims to shift perceptions from “pre-used” to “pre-loved” through a strategic partnership with local influencers and a robust public awareness campaign.
If you’ve ever scrolled through TikTok, chances are you’ve come across the Abraham family’s videos featuring luxury, wealth, and prestigious brands. However, Emily, Adam, and their daughter go beyond being mere TikTok content creators. Emily Abraham, a mother and entrepreneur, along with her husband, owns the successful second-hand luxury store, Love Luxury. Following its remarkable success in London, Love Luxury has recently opened its second location in Dubai.
Elie Saab is set to curate an exclusive fashion spectacle for Riyadh Season in Saudi Arabia.
The CEO of the General Entertainment Authority, Faisal Bafarat, joined hands with renowned fashion luminary Elie Saab in London to formalize a memorandum of understanding. This collaboration aims to craft a unique blend of fashion and entertainment for the forthcoming Riyadh Season, enhancing the city’s cultural landscape.
IMF Upgrades Saudi Economic Growth Forecast to 5.5%
Saudi Arabia’s economy is poised to expand by 5.5 percent this year, as per the latest projections from the International Monetary Fund (IMF).
The IMF’s revised outlook reflects a notably positive stance toward the Kingdom’s economic trajectory.
BRICS Nations’ Wealth Hits $45 Trillion, Projects 85% Surge in Millionaires
A recent report unveils that the BRICS member states, now expanded to 10 nations, collectively possess investable wealth amounting to $45 trillion. This economic coalition, which includes Brazil, Russia, India, China, and South Africa, welcomed Saudi Arabia, the UAE, Iran, Egypt, and Ethiopia in January.
Ras Al Khaimah (RAK) aims to enhance collaboration with the UK, as evidenced by the signing of an agreement to facilitate future investments and provide support to existing British investors in the emirate.
This bilateral agreement also seeks to stimulate business activities by fostering international connectivity between Ras Al Khaimah and the UK, thereby benefiting the broader region.
Emirates has unveiled a new hassle-free service for Indian travelers who have booked flights with the Dubai-based airline.
In collaboration with VFS Global, Emirates announced on Thursday a convenient visa-on-arrival service exclusively for Indian passport holders traveling to Dubai.