Hotels & Hosppitality

MENA hospitality market value set to top US$487 billion by 2032 amid unprecedented tourism expansion

Hotel construction reaches all-time high; KSA leads project pipeline according to data released ahead of FHS World 2025

Dubai, 22 October 2025.  The value of MENA’s hospitality market is set to grow from US$310 billion in 2025 to more than US$487 billion by 2032, according to data released ahead of the Future Hospitality Summit – FHS World, Madinat Jumeirah Dubai, 27-29 October.

The travel and tourism sector is projected to contribute US$367 billion to the Middle East economy and support 7.7 million jobs this year, says the World Travel and Tourism Council. International visitor spending is expected to reach nearly US$194 billion, up nearly a quarter from 2019, pre-pandemic levels, with domestic spending forecast to hit US$113 billion.

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Business & Investments

Nolte Küchen to invest AED 25 million as part of Middle East growth strategy

22nd October 2025, Dubai, UAE – Nolte Küchen, Germany’s leading premium kitchen brand, is strengthening its presence in the Middle East as part of a renewed global growth strategy rooted in German design excellence and craftsmanship. Having been present in the UAE market since 2007 with Universal Trading Company (UTC), in a mutually agreed step to further ensure market development and expansion. The brand will now transition to a direct-to-consumer model under its new mainland entity, Nolte UAE.

Selva Kumar Rajulu Managing Director at Nolte FZE Dubai

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Business & Investments

Middle East Demand for Wires and Cables Surge, Anticipated to Touch over US$32 billion in Five years

  • Key industry players confirm participation at global twin expos – wire & Tube in Dusseldorf from April 13-17, 2026
  • 16 exhibitors so far from the UAE including Ducab and Konares; Bahra Electric and Elsewedy Steel from KSA at the show
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Featured

Banafsheh Hemmati to Open First UAE Solo Exhibition in DIFC on 9 October

Exhibition showcases Wearable Art and Sculptures, and includes design process 

Ring by Banafsheh Hemmati, part of Body Geometry collection

September 2025 : Dubai, UAE

Independent artist-designer Banafsheh Hemmati will open her first solo exhibition in the UAE on 9 October 2025. Held in collaboration with DIFC, the exhibition, titled Body Geometry, will present a collection of the Tehran-based artist’s wearable jewellery and sculptures, where the two disciplines enter into a living dialogue with one another. The exhibition explores the relationship between body, space, and geometry, and is positioned at the intersection of art, design, and philosophy. Body Geometry invites the viewer to experience the connection between the human body and geometric form in a new way, and also shows the design process that the artist follows. This exhibition follows Hemmati’s participation in Dubai Design Week and two editions of the DIFC Sculpture Park, and will be open to the public from 9-31 October 2025 in Satellite Gallery, DIFC.

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Business & Investments

NBQ’s net profits rise 16% to AED 465 Million in 9 months

Umm Al Qaiwain, UAE – 22 October 2025:

The National Bank of Umm Al Qaiwain (NBQ) has delivered a strong financial performance in the first nine months of 2025, with profits after tax reaching AED 465 Mn, a 16% increase compared to the corresponding period in 2024.

NBQ CEO Mr. Adnan Alawadhi

Total assets reached AED 21.8 Billion as of 30 September 2025, are up 32% compared to AED 16.5 Billion by end of September 2024, with net loans and advances rising 20% to AED 8.7 Billion, and customer deposits growing 45% to AED14.7 Billion over the same period. Shareholders equity grew by 10% to AED 6.4 Billion. 

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