Our Country Risk team forecasts UAE's real GDP growth will slow from 7.6% in 2022 to 2.1% in 2023, falling below the 2015-2019 average. A slowdown in the economy over 2023 is also reflected in a 3.2% decline in the UAE's health budget for 2023 estimated at AED5bn (USD1.0bn). In...
In June 2023, The FITOUT, a prominent provider of comprehensive interior solutions in the Middle East and a subsidiary of Union Properties, partnered with Gurian, an Italian furniture manufacturing company. This collaboration aims to diversify product offerings and introduce Italy's finest luxury furni...
The luxury segment maintains its dominance in the UAE hospitality landscape, with a strong pipeline of premium developments reshaping the market. Current development plans include 118 new hotel projects scheduled for completion between 2023 and 2025, with 64% of these projects falling in the five-sta...
Explore business opportunities in rising sectors within the UAE/Dubai such as real estate, e-commerce, and more.
The United Arab Emirates (UAE) and South Korea have signed off on terms for a comprehensive economic partnership agreement (CEPA). Under the UAE-Korea CEPA, the UAE will eliminate 91.2% of tariffs within a decade, while South Korea agrees to abolish 92.8
25th-26th NOVEMBER 2023 DUBAI, UAE REGISTER INTEREST India's real estate sector is experiencing a remarkable growth trajectory, projected to reach a market size of US$ 1 trillion by 2030, constituting 18-20% of the country's GDP. The demand for residential properties is soaring, fueled by in...
The Abu Dhabi Department of Economic Development (ADDED) has launched a new programme giving small and medium enterprises (SMEs) better access to financial services. The SME Finance Facilitator Service can assist SMEs opening bank accounts and accessing
but non-oil gdp surged 6.6% in the same period, led by increases in construction, manufacturing, and finance and insurance activities. competition, however, especially with bigger neighbour saudi arabia that is opening up economically and socially, is growing. other initiatives...
In 2023 alone, the Saudi Port Authority (SPA) invested USD 4.5 billion into maritime logistics and port infrastructure, aimed at establishing new logistics parks equipped with state-of-the-art technologies. The Oxagon, a floating industrial hub located in NEOM, and the King Salman Energy Park ...
The IMF suggests that the UAE central bank’s financial support package amounted to almost 20% of GDP and that real GDP growth will fall to 6.6%. This is in addition to a plethora of other measures to boost economic activity. The net result is that the IMF is also optimistic about the...