Saadiyat Island Cultural District moves nearer to completion

23 May 2024

Guggenheim Abu Dhabi and Zayed National Museum, two of the most eagerly awaited museums in the United Arab Emirates, are expected to be completed by the following year and open for business.

The Saadiyat Cultural District’s “key assets” are almost all built, according to a statement from the Department of Culture and Tourism – Abu Dhabi. In addition to the two establishments, teamLab Phenomena Abu Dhabi and the Natural History Museum Abu Dhabi are almost finished.

The event venue Manarat Al Saadiyat, … Read more ›

How Al Maktoum Airport is Shaping Real Estate in Abu Dhabi and Sharjah

21 May 2024

Communities and infrastructure that are already in place in the vicinity of Dubai South might also see improvements; better facilities and transit systems should raise real estate costs.

“Infrastructure improvements should drive demand for residential and commercial real estate in Dubai overall, resulting in a significant increase in property values in neighborhoods near the new airport terminals,” states Fibha Ahmed, Vice President of Real Estate Sales at Bayut & Dubizzle. Residential apartment sales in the area have increased by 30% in … Read more ›

Aldar’s first-quarter profit increases by 81% due to increased real estate sales

30 April 2024

“Development sales reached $1.7 billion, driving up the company’s net income to $353 million.”

The largest listed developer in Abu Dhabi, Aldar Properties, announced an increase in first-quarter net profit of more than 81% year over year due to increased sales, indicating that the UAE’s property market is still strong despite the ongoing economic growth.

The business stated in a statement on Monday to the Abu Dhabi Securities Exchange, where its shares are listed, that net profit attributable to the company’s owners … Read more ›

29 April 2024

“The Abu Dhabi Department of Transportation will test using Regent seagliders to link the emirates and islands.”

 

On Thursday, Regent, a US maritime transport business, and the Abu Dhabi Investment Office signed an agreement to build seagliders that fly at high speeds over water in the UAE.

Boston startup Regent has also struck an agreement with Abu Dhabi’s Department of Transport to incorporate its electric-powered seaglider into the UAE’s current transportation network, with a focus on high-impact routes such offshore services to … Read more ›

Microsoft and Abu Dhabi’s G42 have a $1.5 billion partnership.

18 April 2024

“Microsoft has invested $1.5 billion in the artificial intelligence company G42 in Abu Dhabi as part of an expanded collaboration intended to support the business’s expansion goals.”

 

Microsoft has invested $1.5 billion in G42, an artificial intelligence and cloud computing business based in Abu Dhabi. This will support G42’s plans to expand internationally and solidify the UAE’s standing as a major hub for technology worldwide.

The firms said in a joint statement on Tuesday that as part of the extended relationship, a … Read more ›

DCT Abu Dhabi intends to invest $10 billion in infrastructure as part of its tourism strategy.

04 April 2024

By 2030, the UAE’s tourist industry is expected to generate $24.5 billion in revenue annually, with the construction of additional five-star hotels, according to the chairman of DCT Abu Dhabi.

 

As part of its new major tourist strategy, Abu Dhabi’s tourism body intends to invest over $10 billion in infrastructure, according to the chairman of the emirate’s Department of Culture and Tourism.

In line with the Abu Dhabi Tourism Strategy 2030, the emirate also plans to increase the number of hotel rooms … Read more ›