Author: Dr Issac PJ
The UAE has emerged as one of the world’s fastest-growing luxury markets, with Euromonitor International projecting a robust 9 per cent growth rate between 2025 and 2030. The country’s burgeoning affluent population, appetite for experiential luxury, and expanding wellness and lifestyle sectors are turning it into a key driver of global luxury demand.According to Euromonitor’s World Market for Luxury Goods 2025 report, the global luxury industry, now valued at $1.5 trillion, remains resilient despite economic uncertainty and geopolitical tensions. The UAE and wider Middle East are at the forefront of this momentum, joining the ranks of South Africa, Sweden, India, and Indonesia as…
The International Energy Agency (IEA) has significantly raised its projections for global oil supply, warning of a swelling surplus in 2026 as Opec+ and other producers boost output against a tepid demand backdrop.In its October Oil Market Report, the IEA pegged supply growth at 3.0 million barrels per day (bpd) in 2025 — up from its earlier estimate of 2.7 million — and expects a further 2.4 million bpd increase in 2026. Meanwhile, demand is forecast to underperform. The agency trimmed its 2025 demand growth estimate to 710,000 bpd, down by 30,000 bpd, and expects a similar uptick in 2026 of…
Dubai’s iconic Sheikh Zayed Road is set to welcome a new architectural marvel — Sobha SkyParks, a soaring 109-storey tower that will rank among the UAE’s five tallest developments and stand as the tallest creation in Sobha Realty’s portfolio.Rising about 450 metres, the ultra-luxury project promises to blend art, engineering, and lifestyle into a single vertical masterpiece.Sobha Realty said the launch of SkyParks represents a defining moment in its journey to shape Dubai’s next-generation skyline. Designed around the company’s philosophy of “The Art of Detail,” the tower’s striking form features five interlinked sub-towers, creating a sleek, linear silhouette framed by…
In its latest World Economic Outlook, the International Monetary Fund has sharply raised its growth projection for the UAE, underscoring the nation’s increasingly robust footing amid global volatility.The IMF now expects the UAE’s real GDP to expand by 4.8 per cent in 2025, up from its earlier estimate in April — and forecasts even stronger momentum in 2026 with 5.0 per cent growth, a figure unchanged from its spring outlook.This optimism comes against a backdrop of softening global growth. The WEO projects global expansion to ease from 3.3 per cent in 2024 to 3.2 per cent in 2025, then slip…
Comera Pay, part of Abu Dhabi’s Royal Group, has partnered with TAMM — the Emirate’s unified digital platform for government services — to enable seamless digital payments for residents and businesses, marking a major milestone in the capital’s smart government transformation.The partnership was formalised with a memorandum of understanding (MoU) signed during GITEX Global 2025 at the Dubai World Trade Centre, coinciding with the official launch of Comera Pay as a direct payment option within the TAMM ecosystem. The integration allows users with an active Comera Pay Wallet to instantly and securely pay for a wide range of government services directly…
Aldar Properties has once again demonstrated the allure of Yas Island, announcing that its latest project, Yas Living, sold out within days of its launch — generating over Dh1.3 billion in sales. The overwhelming response underscores the island’s growing stature as one of the UAE’s most desirable lifestyle and investment destinations, drawing strong interest from both expatriate residents and international buyers. Situated on the northeast edge of Yas Island with panoramic canal views, Yas Living marks the latest addition to Aldar’s “living collection” — a series of contemporary, community-focused urban developments designed for the next generation of homebuyers. The project’s three residential…
Al Mal Capital REIT (AMCREIT), a subsidiary of Dubai Investments and listed on the Dubai Financial Market, has expanded its healthcare holdings with the acquisition of NMC Royal Hospital in Dubai Investments Park (DIP), reinforcing its position as one of the UAE’s most active real estate investment trusts.Although financial details were not disclosed, the deal brings AMCREIT’s total portfolio value to around Dh1.4 billion across six assets, underlining its strategy of acquiring high-quality, income-generating properties. The transaction follows a Dh210 million capital raise completed in August through a follow-on public offering, with the proceeds directed toward portfolio expansion and diversification.The newly…
The Reserve Bank of India (RBI) is reportedly open to allowing Dubai-based Emirates NBD to acquire a controlling stake in RBL Bank, marking a potential breakthrough in India’s efforts to attract foreign capital into its mid-sized private banking sector.According to multiple media reports, Emirates NBD — the UAE’s largest lender — is in advanced discussions to buy up to a 25 per cent stake in RBL Bank. Under India’s takeover regulations, such a purchase would trigger a mandatory open offer for another 26 per cent from public shareholders, potentially giving Emirates NBD control with a 51 per cent stake.People familiar…
One in four UAE adults planning to live or retire abroad are not confident about their financial plans, while nearly one in ten have no plan at all, a new HSBC-commissioned survey has revealed. The findings underscore a growing need for smarter, more holistic wealth management — a gap the bank hopes to bridge through its revamped HSBC Premier offering, featuring the first-of-its-kind Future Planner tool.The survey, conducted by YouGov for HSBC, highlights that 25 per cent of UAE residents who envision life beyond the Emirates feel financially unprepared, with 28 per cent citing the complexity of managing multi-country finances as…
Dubai’s property market continued its remarkable run through 2025, shrugging off the traditionally slow summer months to post one of its strongest quarters on record.Residential sales rose 22.7 per cent year-on-year, while commercial transaction values surged 31 per cent in the third quarter, according to Engel & Völkers Middle East.The results underline Dubai’s growing reputation as one of the world’s most resilient and mature real estate markets — driven by robust investor confidence, a steady influx of new residents, and deep-rooted end-user demand.”Dubai’s property market has reached a new level of maturity,” said Daniel Hadi, CEO of Engel & Völkers…