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Land transport of goods leads Saudi commercial registrations in Q4
Riyadh, Saudi Arabia -- Saudi Arabia witnessed a surge in commercial registrations across various business sectors in the last quarter of 2023, with land transport of goods leading the way, the Kingdom's Ministry of Commerce said Wednesday. Land transport of goods witnessing a remarkable increase. By the end of Q4...
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Dubai hotel occupancy up 3.4% to reach 90.8 percent in Feb
Dubai, UAE -- Dubai hotels achieved a 3.4 percent year-on-year growth in occupancy levels, reaching 90.8 percent, according to preliminary data for February released by CoStar, a provider of global real estate information, analytics, and online marketplaces. Other key metrics also showed positive growth, with the average daily rate (ADR)... -
S&P estimates UAE GDP to grow beyond 5% in 2024
According to Tatiana Leskova, Associate Director of Corporate Ratings at Standard and Poor's Global Ratings that the global economy while remaining subdued, operating at subpar growth levels, S&P estimates that UAE GDP expanded at over 3 percent in 2023, including close to 6 percent growth for the non-oil sector”. -
ADQ, ADNEC Group sign agreements
They will buy 40.5% stake in TMG Holding’s hospitality business. -
Abu Dhabi IPO Fund looks to launch three IPOs by end of 2024
Abu Dhabi, UAE--Abu Dhabi IPO Fund (ADIPOF) is working on three initial offerings in the technology, hospitality, restaurants, and financial sectors, expected toward the end of 2024. It was revealed by Bassel Al Khawaja, Advisory Head at Abu Dhabi IPO Fund (ADIPOF) on the sidelines of the 2nd day of... -
NEOM inks deal with Marriott International
Under the deal, two luxury hotels will be built in Trojena. -
Realty sector’s success hinges on GDP growth
The kingdom’s Minister of Housing, Majid Al-Hogail recently said that Gulf country's residential real estate finance is expected to exceed 1.2 million contracts with a value of SR600 billion ($162 billion) by 2030. -
Hotel revenues in Oman grow 27.8% to $318 million in July
Muscat, Oman -- The revenues of 3-5-star hotels in Oman reached RO 122.5 million ($318 million) at the end of July 2023, up by 27.8 percent over the corresponding period in 2022. Statistics issued by the National Centre for Statistics and Information (NCSI) show that the total number of hotel... -
EIH buys stake in Gewan Holding
Acquisition aims to diversify and expand into several sectors. -
UAE’s real estate market remains strong in the first half of 2023: CBRE
Dubai, UAE--The UAE's real estate market has recorded a strong performance across all sectors in the first half of the year as non-oil economy witnesses strong growth in spite of global macroeconomic headwinds. According to a market report by CBRE, rental performance in Abu Dhabi’s occupier market showed substantial improvement... -
‘God’s guests’: Saudis safeguard hajj hospitality tradition
Luxury accommodations and air-conditioned shopping malls have not replaced the deeply ingrained culture of hospitality in Islam's holiest city. -
‘UAE rising as a key player in global hospitality’
“Cities such as Dubai and Abu Dhabi have rapidly established themselves as the hospitality destination of choice for business and leisure. Emirates such as Ras Al Khaimah are also heavily investing in these sectors, offering international tourists diverse offerings across the leisure and entertainment sectors,” he adds. -
Hyatt to develop tourist destinations in Saudi Arabia
Riyadh, Saudi Arabia - Saudi Arabia’s Tourism Development Fund (TDF) has announced the signing of a Memorandum of Understanding with an affiliate of Hyatt Hotels Corporation to establish luxury hotels across the kingdom. The collaboration aims to develop several hospitality-led destinations which will enhance the tourism sector in the country.... -
Radisson eyes bigger share of Middle East hospitality sector
Dubai, UAE-- Seeking to take advantage of the boom in the Middle East's hospitality sector, Radisson Hotel Group will triple its presence in the region by 2030. The hotel group, running 52 hotels and resorts in the Middle East, is planning to have 150 properties in operation and under development... -
Qatar Tourism head says country expects over 5m visitors in 2023
DOHA, QATAR - Qatar expects more than five million people to visit the Gulf state in 2023 despite a post-World Cup lull, its tourism chief said on Sunday. Akbar Al-Baker, head of Qatar Airways and Qatar Tourism, admitted that hotels had fallen quiet after the World Cup final on December 19.... -
Realty growth in Saudi Arabia, UAE to build on strong private sector and robust spending via govt initiatives
While 2022 saw record levels of demand for commercial office space as a result of ‘Programme HQ’, 2023 looks set to be dominated by the delivery of high quality residential-led mixed use schemes and a continued focus on tourism, leisure and entertainment projects, adds Burch, Partner and Head of Real... -
Increasing pressure from Saudi real estate projects to force Dubai to develop more distinctive offerings
At the moment, the market is solidly Dubai, which is recognised as the world leader in branded residential offerings with all eyes on the city’s upcoming openings. The slower approach of Abu Dhabi will be something to watch as it makes large-scale investments into the luxury sector, he adds. -
Events keep hotel occupancy high in Saudi Arabia
Over the next decade, the Kingdom's tourism industry is projected to develop at an annual rate of 11 percent, making it the region's fastest-growing tourism market. -
US sees surprise hiring surge as unemployment edges down
US job gains surged unexpectedly last month as unemployment slipped to its lowest rate in over five decades, government data showed. The world's biggest economy added 517,000 jobs in January after a five-month slowdown in hiring, as the jobless rate edged down to 3.4 percent, said the Labor Department in... -
Saudi ministry signs hospitality, catering MoUs with 3 firms
Riyadh, UAE---Saudi Arabia's Ministry of Investment has signed MoUs with three companies to develop and market investments in hospitality, tourism, catering services and entertainment activities besides cooperation in operating residential and commercial complexes. The MoUs were signed with Kadana Company, Lifestyle Development Company and Jusoor Al-Khaleej Company at the Hajj... -
CBUAE projects real GDP to grow by 7.6% in 2022
In its Q3 review, the apex bank attributed the upward review to the robust performance of some non-oil sectors, including tourism, hospitality, real estate and manufacturing. -
Sharjah International Travel and Tourism Forum to begin Nov 24
SHARJAH, UAE - The 9th edition of the Sharjah International Travel and Tourism Forum (SITTF) is set to kick off at the Sharjah Expo Centre on November 24, 2022, under the theme 'Building a Resilient Future for Tourism'. The forum will be held under the patronage of Sheikh Sultan bin... -
GCC adopts tourism strategy, launches new platform
The Gulf ministers review projects aimed at strengthening joint Gulf action in tourism as well as strategic partnerships between the GCC and other countries and stakeholders. -
Residential properties in UAE remain key attraction for international real estate investors
Experts attribute the main reasons for the increase in the real estate demand to the UAE government's numerous initiatives and the high income level of investors. -
Sharjah tourism body to highlight AI, technology in tourism
Sharjah Commerce and Tourism Development Authority (SCTDA) has confirmed its participation at the 42nd GITEX Technology Week, to be held from October 10- 14 2022 at the Dubai World Trade Center. -
Middle East plays well to become sports tourism hub
Major events such as Qatar World Cup 2022, Formula 1 Abu Dhabi Grand Prix, etc. will give Gulf tourism a boost in the last quarter of this year, according to a latest report. -
Qatar World Cup opens new room for UAE hospitality
Hotels in Dubai are reporting an increase in room bookings ahead of the Qatar World Cup 2022, with many expecting to be fully booked during the international football event. -
UAE, Serbian Presidents discuss bilateral relations
UAE President Sheikh Mohamed bin Zayed Al Nahyan discussed with Aleksandar Vucic, President of Serbia, cooperation between their countries and prospects for enhancing it to advance their mutual interests. The talks took place during a meeting held between the two leaders at Qasr Al Watan in Abu Dhabi. -
Hotel occupancy rate points to UAE tourism recovery
The total number of hotel guests in the UAE rose to 10.5 million during the first half of 2022, up from 8.3 million during the same period last year, latest research by Colliers suggests. -
GCC hospitality looks at more sustainable practices
'Eco-friendly travelers' are gradually putting pressure on hospitality businesses in the Gulf region to incorporate green concepts and sustainability practices into service delivery. -
Jordan, Morocco to launch hospitality training facility
A Jordanian-Moroccan hospitality and tourism training project will be launched in the Hashemite Kingdom as part of the strategic partnership between the two countries, Moroccan Ambassador Sidi Muhammad Khaled Al-Nasiri announced on Saturday. -
Qatar World Cup will be most luxurious yet, says hospitality firm boss
Jaime Byrom, who has sold millions of hotel rooms over 10 World Cups, said wealthy supporters will be flocking to the tiny Gulf state from around the globe. -
Over 7mn international visitors in Dubai in H1 2022
Dubai attracted 7.12 million international overnight visitors between January and June 2022, recording over 183 growth compared to the 2.52 million tourists who visited during the same period in 2021. -
Hotel construction to see boom in Saudi Arabia: TOPHOTEL Projects
Saudi Arabia will see a boom in construction of hotels in 2023, with some 63,753 to be available for guests next year. -
Aldar acquires Doubletree
DoubleTree by Hilton Resort & Spa Marjan Island is a beachfront resort. -
$399 million hospitality investment fund coming up in Saudi Arabia
A SAR 1.5 billion ($399 million) hospitality investment fund that will advance lifestyle hotels in Saudi Arabia will be set up by the Tourism Development Fund (TDF) in partnership with Ennismore and Al Rajhi Capital. Ennismore is the world’s largest and fastest-growing lifestyle hospitality company and Al Rajhi Capital, an... -
Dubai: Monaco of the region with a difference
The final quarter of 2021 provided a major boost to Dubai hotel results, with properties surpassing even 2019 figures across all major KPIs. Occupied room nights in the quarter hit 10.1 million, up 12 percent from 9 million in 2019. Length of stay increased from 3.5 nights to 4.5, a 20... -
Arabian Travel Market 2022 kicks off in Dubai
The Chairman of Dubai World Sheikh Ahmed bin Saeed Al Maktoum, inaugurated the 29th edition of the Middle East’s largest travel and tourism exhibition Arabian Travel Market (ATM) on 9 May 2022. -
Ras Al Khaimah Tourism Development Authority on Best Workplaces List
Ras Al Khaimah Tourism Development Authority (RAKTDA) has achieved sixth place on the Best Workplaces List of 2022 – Small & Medium Organizations. The ranking is awarded by the Great Place to Work, the global authority that recognizes high-trust, high-performing workplace cultures. RAKTDA is the category’s highest placed government entity... -
Star-studded projects point to Saudi transformation
Some of the iconic real estate holdings developed by Taiba throughout Saudi Arabia suggest that the Kingdom is headed towards an unprecedented economic transformation. -
Emaar plans new Fujairah resort
The Emaar Hospitality Group will open the resort in Q2. -
India’s Taj Group eyes Gulf expansion, to build hotel in Makkah
The luxury hotel chain is planning 15 new hotels in the next 10 years, which include at least 5 new properties in Dubai and a new hotel in Makkah -
Jordan saw its GDP grow 2.2% in 2021 as compared to 2020
The numbers come from a quarterly statistical report released on Sunday by the Department of Statistics. -
GCC eyes floating hotels, eateries to buoy tourism
Floating restaurants and hotels could be a significant supporting player as the GCC region aspires to increase its footprint as a global tourism hub. -
Marriott Autograph Collection in Sharjah
Two of Shurooq projects will operate under Autograph brand. -
Marka: From a star UAE retailer to a bankrupt firm
Flouting norms, massive mismanagement and lack of transparency and corporate governance have potential to take any company the Marka Holding way -
Tech-enabled sustainability can help hospitality
SB Group founder and CEO Sanjeevv Bhatia says the hotel industry can no longer ignore net-zero goals. -
Recovering US economy adds 531,000 jobs in October
The unemployment rate also dropped slightly from 4.8% to 4.6%, the lowest since the pandemic. -
Non-oil sector fuels Bahrain economy growth
The results are said to be showing signs of economic recovery of Bahrain. -
Saudi Arabia reaches out to France for stronger economic ties
The move aims to further enhance bilateral investment relations by making use of the opportunities offered by Saudi Vision 2030. -
Tabreed ups cooling-scheme stake
The exclusive scheme supplies Al Maryah Island in Abu Dhabi.