The facilities management (FM) industry in Dubai has matured rapidly over the past three years, scaling up as owners and developers seek to optimise their real estate assets in an increasingly competitive market. At a total current value of around $1.5bn, the industry is expected to trend positive through 2014 on the back of a slate of new...
Boosting economic integration among the Gulf states has been a central objective of the GCC since the organisation was established in late May 1981. Indeed, while the six countries that make up the GCC – namely Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the UAE – have implemented joint projects in a wide variety of sectors, economic...
Residential real estate prices are rebounding strongly, prompting the IMF to warn in July 2013 that “action will need to be taken to prevent a bubble”. The government has since implemented a series of changes to regulations aimed at cooling the market and dampening the effects of speculation.
Adding to an already impressive list of firsts, Dubai’s neighbouring emirate of Sharjah added its first sovereign ratings at the beginning of 2014. Moody’s and Standard & Poor’s (S&P) both place the UAE’s third-largest emirate well inside investment grade. Away from the glare of publicity, Sharjah was home to the first airport in the Gulf,...
In a speech delivered at a conference in Riyadh in early May 2012, Abdullatif bin Rashid Al Zayani, the secretary-general of the GCC, addressed the numerous changes that have taken place in the region in recent years. “The new political, security and military challenges, at the regional and international levels, as well as insecurity in the Arab...
Supported by increasing tourist arrivals and the opening of several branded hotel chains, Dubai’s serviced apartment segment is poised for solid growth. The depth of demand for serviced apartments – so-called because a hotel operator provides services such as house cleaning, bed-making and Wi-Fi internet access – is closely connected to the...
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