Daily Archives: February 28, 2024

Real Estate

Deloitte reports record real estate transaction levels in Dubai

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Deloitte reports record real estate transaction levels in Dubai: Sales prices up 18% and rents up 26% in 2023

  • The Emirate preserves its status as a safe haven for investors, amidst geopolitical and economic headwinds in other global investment markets
  • The average occupancy rate for Dubai hotels stood at 77% in 2023 and the number of international visitors surpassed pre-pandemic levels

Dubai, United Arab Emirates, February 28, 2024 – Theleading global professional services firm, Deloitte, released its annual Real Estate Report for the year 2023, reflecting on the robust performance of Dubai across all market sectors.

The residential market in Dubai has experienced remarkable growth in 2023, with sales prices increasing by 18% and rental rates soaring by 26% over the previous year. The market continues to be dominated by cash buyers, and demand for affordable villas and townhouses has fueled rental activity in this segment. Villa price growth has outpaced prices for apartments, while rent increase has moved in tandem. This trend is expected to persist in 2024, although the rate of growth may stabilize as new supply enters the market.

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Technologies

Saudi Arabia’s fortifies digital landscape by convening industry masterminds at LEAP 2024

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Saudi Arabia’s fortifies digital landscape by convening industry masterminds at LEAP 2024

By Feras AL Al Shaikh, Regional Director KSA region at Red Hat

The Kingdom of Saudi Arabia is not only witnessing significant changes but also setting stage for a transformation journey. Currently, the nation strides firmly, guided by the ambitious Vision 2030. This development is a testament to the resounding success of the initiatives Saudi Arabia implemented during 2023 as well as the nation’s resolute commitment to ensure continuous economic growth.

Amid this transformative journey stands the digital economy, a towering pillar demonstrating Saudi Arabia’s pursuit of innovation and economic diversification. With strategic investments in cutting-edge technologies such as artificial intelligence (AI), Internet of Things (IoT), cybersecurity and big data analytics, the Kingdom is not only adapting to future changes but is also poised to lead as a global technology hub. 

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Business & Investments

The Ports, Customs, and Free Zone Corporation held an extensive meeting with the Marine Agency for Wooden Dhows company owners’ customers

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During the regular meeting with traders and investors

Bin Sulayem: We innovate the best services that contribute to maintaining Dubai’s economic position on the global trade map

  • The efforts of the Ports, Customs, and Free Zone Corporation align with the objectives of Dubai Economic Agenda D33
  • Bin Sulayem: Through the Marine Agency for Wooden Dhows, we work to enhance Dubai’s position as a strategic center for attracting companies and traders from all around the world
  • Khoory: These efforts affirm our commitment to supporting the local and national economy, and our effective role in enhancing trade and Dubai’s position as a global trade hub

The Ports, Customs, and Free Zone Corporation held an extensive meeting with the Marine Agency for Wooden Dhows company owners’ customers which was held at the Queen Elizabeth 2 Hotel at Port Rashid. The purpose was to discuss fruitful cooperation methods to serve the trade and economic sector in Dubai.

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Travel & Tourism

New data reveals a surge in interest in travel to France ahead of the Olympics

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New data reveals a surge in interest in travel to France ahead of the Olympics taking place in Paris in 2024

Amadeus data reveals winning strategies for French travel companies ahead of the Olympics taking place in Paris in 2024

MENA Region Elevates Interest in Travel to France Ahead of Paris Olympics 2024

Fresh insights unveiled today by Amadeus, a prominent technology ally for the worldwide travel sector, shed light on the escalating traveler interest in anticipation of the Summer Games.

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Technologies

Yango Announces Exclusive Ramadan Offers to Celebrate the Holy Month

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Yango Announces Exclusive Ramadan Offers to Celebrate the Holy Month

Dubai, UAE, 28th, February, 2024 — Yango, an international tech company, is excited to announce its special offers for the holy month of Ramadan in UAE, designed to bring more joy and convenience to its valued customers. As families and friends gather to celebrate this auspicious time, Yango’s aim is to enhance your travel experience and add value to your journeys.

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