Majid Al Futtaim Reports Strong 2022 Financial Results with 12% Revenue Growth Majid Al Futtaim has announced its audited operational and financial results for 2022 , showcasing a 12% increase in revenue to Dhs36.3bn . The company’s EBITDA grew by 4% to Dhs4.1bn , fueled by strong...

Dubai saw 3,397 transactions and $3.1bn change hands this week Dubai recorded real estate and properties transactions valued at AED11.5bn ($3.1bn) this week. According to figures from the city land department. In total there were 3,397 transactions. 228 plots were sold for...

Abu Dhabi saw real estate transactions boom in 2022 Abu Dhabi’s Department of Municipalities and Transport recorded 19,033 transactions, reaching a total value of AED77.6bn ($21bn) in 2022. Abu Dhabi’s real estate sector saw 9,010 sales transactions worth AED23.5bn ($6.4bn) and...

Dubai to Philippines flights boosted by Emirates deal Emirates and Philippine Airlines have signed an interline agreement to boost connectivity for passengers of both air carriers to new points on each other’s networks via Manila and Dubai, using a single ticket and one baggage policy....

The use of hybrid power land drilling rigs is an essential element of ADNOC Drilling’s decarbonisation strategy ADNOC Drilling is set to acquire ten new-build hybrid power land drilling rigs for $252m, with the aim to increase its onshore capacity and meet ADNOC Group’s accelerated...

“The team is in discussion with some operators who are not here,” says Mohamed Al Shehhi Dubai could soon be home to new hospitality projects including hotels and resorts, CEO of A.R.M Holding, Mohamed Al Shehhi. “We are definitely looking to launch our hospitality project...

The investments increased by 3.25 per cent or Dhs16.6bn on a monthly basis The Central Bank of the UAE (CBUAE) has released figures revealing that the total investments of banks operating in the country reached Dhs528bn at the end of December 2022. This represents an 11.5 per cent...

The new rules require Pakistani residents to follow the Wadeema Law, which ensures child rights The UAE has issued a new visa warning for Pakistani nationals residing in the nation. According to UAE Consul General in Karachi Bakheet Ateeq Al-Remeithi, the UAE has warned Pakistani...

The telecom operator, which initially acquired a 9.8 per cent stake in Vodafone for $4.4bn in May 2022, said its investment rationale remains unchanged UAE telecoms operator e& has increased its stake in Vodafone to 14 per cent, as part of the company’s broader strategy to develop...

UAE bank investments reached record highs after 11.5% annual increase UAE banks held $144bn (AED527.7bn) in total investments at the end of last year. The Central Bank of the UAE released figures showing that the total investments of banks operating in the country reached a...