Browsing: Investment

Emaar Development PJSC continued its positive property sales momentum during the third quarter (July to September) of 2023. The company experienced a 25% increase in property sales, amounting to AED 28.9B ($ 7.9B) in the first nine months (January to September) of 2023. This marks a notable rise from AED 23.2B ($ 6.3B) recorded for the same period in 2022. The impressive performance is attributed to the successful launch of 20 new projects across various master plans, laying the groundwork for future revenue generation.

UAE and Saudi Arabia are leading the way in the Middle East, with expectations of 33 million leisure travelers in 2023, as revealed by the WTM Global Travel Report. This impressive growth marks a significant recovery from the pandemic for the Middle East’s tourism industry, surpassing the 2019 figure of 29 million leisure travelers by 13%.

Abu Dhabi Islamic Bank (ADIB) has successfully raised $500M by issuing Sharia-compliant green bonds, marking the largest Islamic bank by assets in the emirate’s effort to diversify its funding sources, promote sustainability, and address climate change concerns.
ADIB priced the senior sukuk with a five-year tenure at a profit rate of 5.695% per annum, payable semi-annually. The sukuk will be listed and traded on the London Stock Exchange’s International Securities Market and Sustainable Bond Market, according to the statement from the Abu Dhabi-based lender.

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The World Blockchain Summit in Dubai saw key industry players come together to discuss the future of blockchain. Cypher Capital and Master Ventures announced strategic investments in Common Wealth, a platform aimed at democratizing early-stage investments. This marked a significant step in shaping the blockchain landscape. Common Wealth’s mission is to make early-stage investments more inclusive, breaking down barriers. The announcement, made at the summit, generated excitement among attendees, underlining the potential for these investments to drive innovation in critical sectors of the global economy. Learn more at Common Wealth’s website.

The Helicopter Company, a wholly-owned subsidiary of the Saudi Public Investment Fund, has recently concluded an SAR 800M Murabaha facility agreement with Gulf International Bank – Saudi Arabia (GIB-Saudi Arabia).

The Ministries of Investment in the UAE and Jordan have inked a Memorandum of Understanding (MoU), establishing a framework for investment collaboration, particularly in critical sectors such as infrastructure and development projects. This agreement further bolsters the enduring strategic partnership between the two nations.

Aldar Properties’ inaugural residential project in Dubai, Haven by Aldar, witnessed both of its phases selling out within hours of their respective launches. Initially, Aldar had slated the release of 468 units in the first phase, but due to an exceptional surge in demand on launch day, they promptly introduced the second phase, comprising an additional 318 units.

Riyadh is emerging as a major global player in real estate, challenging Dubai’s long-held dominance. This transformation is powered by Riyadh’s cost advantage over Dubai and the Saudi government’s initiatives to entice international investors with financial incentives, as revealed in a recent industry report. Additionally, a significant pool of potential domestic investors, estimated at 37 million, and the growing number of international investors are further fuelling Riyadh’s rise in the real estate sector.

Tourism Minister Ahmed bin Aqeel Al Khateeb revealed that Saudi Arabia is investing $800B in the tourism sector, with the goal of attracting 100 million tourists, both local and international, by 2030. He highlighted the Kingdom’s rapid growth in tourism within the G20 nations, having already hosted over 30 million tourists, achieving 40% of the target. This sector plays a vital role in driving economic growth.