Efforts to galvanise business tourism by investing in infrastructure look to be paying off for Abu Dhabi, with figures showing that the number of events taking place in the emirate is on the rise.
UAE: Abu Dhabi
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Economic update | Abu Dhabi: Power savings
5 Apr 2012
With demand for electricity and water rising quickly, authorities in Abu Dhabi have taken steps to reduce consumption, including the introduction of a billing system that will indicate usage more clearly to consumers. Meanwhile, a recent study by an international consultancy firm shows that the introduction of some power-saving techniques could reduce electricity demand in the UAE by up to 50%.
Economic update | Abu Dhabi: Infrastructure focus
22 Mar 2012
Abu Dhabi’s construction sector appears set to return to near-full capacity, with the government announcing it is reactivating a number of major development projects and stepping up spending on infrastructure development. In late January, the government unveiled its revised construction programme, putting a number of formerly stalled projects on the top of its investment agenda.
Economic update | Abu Dhabi: Trend to lend
9 Mar 2012
The four largest banks in Abu Dhabi reported an increase in annual profits for 2011 and, in two cases, have substantially exceeded analysts’ expectations. Meanwhile, lending in the UAE overall was up in 2011 and is expected to continue through 2012, with growth being driven in part by retail banking, including loans to small and medium-sized enterprises (SMEs).
Economic update | Abu Dhabi: A measured approach
2 Feb 2012
The real estate market in Abu Dhabi is continuing to undergo a period of correction, with prices flat, slower demand and more supply expected to come to market in 2012. But while the market is expected to remain subdued in the near future, new real estate laws anticipated in 2012 could improve the situation in the longer term.
Economic update | Abu Dhabi: In the pipeline
26 Jan 2012
Abu Dhabi is putting the final touches on an oil pipeline that will allow the emirate to bypass the congested Strait of Hormuz, through which about 40% of all sea-borne crude is currently shipped.
Completion of the project is viewed as increasingly timely, not only in reducing congestion in the Straits but also as geopolitical tensions with Iran have escalated in recent months.