In the largest public offering on the Dubai Financial Market (DFM) in seven years, Emaar Properties raised Dh5.88bn ($1.6bn) with the initial public offering (IPO) of its malls division, Emaar Malls Group (EMG), operator of The Dubai Mall. Shares were priced at the top of the range at Dh2.90 ($0.79) and oversubscribed by 30% for the institutional segment and by 20% for...
Although Dubai has led the way in the development of the GCC tourism and hospitality industry, it may soon be able to adapt its own offerings, by benefitting from the development of arts and cultural attractions being built in neighbouring Abu Dhabi. The focus of this activity in the capital is on a 25.9-sq-km natural island. Three internationally acclaimed architects...
With decades of experience in hosting international contests, Dubai is looking to increase its repertoire of sporting events by investing in new facilities and expanding existing sites. In 2014, plans were announced for the construction of new stadiums, but Dubai Sports Council is also keen to see smaller sports facilities built to serve new and existing communities....
By some measures the tourism and hospitality sector in Dubai is already in a league of its own internationally. In terms of overnight visitor arrivals’ spend per resident, for example, Dubai stands head and shoulders above every other major destination city in the world. In its relatively short history, Dubai’s hospitality sector has learned how to constantly reinvent...
With tourist numbers growing year-on-year and the prospect of a huge event just five years away, optimism is prevalent in Dubai’s hospitality sector. At the same time, as new hotels, apartments and holiday villas are built, there are fears in some quarters that the emirate may create a glut in supply.
While the regulation of tourism at the local level rests with the Department of Tourism and Commerce Management (DTCM), new federal regulations from the UAE’s Department of Naturalisation, Residency and Ports Affairs in August 2014, could have an impact on visitor numbers to Dubai.
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