Strong demand spurs Dubai’s realty growth

• According to a report by Asteco Property Management, 2021 witnessed the delivery of about 17,000 housing units, including 15,000 apartments and 2,000 villas
• Manager Partner of BSA, Jimmy Haoula, explained that the UAE had outshined many of its neighboring jurisdictions with a welcoming economy and a safe place to grow and live

Saudi oil supply to China soars 38% in April, highest since 2020

• Saudi oil supply amounted to 8.93 million tons last month, equivalent to 2.17 million barrels per day
• The hefty purchases, with trades completed mostly in February, compare with 1.61 million bpd in March and 1.57 million bpd a year earlier

Dubai: A Monaco in the making in the Gulf region

EU looks to build a strategic partnership with GCC

• European External Action Service Spokesman Peter Stano said the cooperation is a must due to the current geopolitical developments
• He added, “Together with our partners, we represent 20% of the global economy, and half of the foreign direct investments"

Dubai’s luxury retail on the rebound

• Government initiatives have sped up rebuilding, including making the country a safe refuge for both inhabitants and tourists which has fuelled the consumer activity
• With the introduction of new laws such as 5-year multi-entry tourist visa and a 10 year Golden Visa, the prospects for growth in luxury retail have become bright

Qatar looks to upgrade ties with British Rail, discusses collaboration opportunities

• The discussions involved collaboration across the full spectrum of customer experience, maintenance and operations
• The delegation received a briefing on Qatar Rail projects and shared information with Qatar Rail about its capabilities

Qatar and Germany to boost cooperation in energy sector

• Qatar's Minister of State for Energy Affairs Eng. Saad bin Sherida Al Kaabi and German Minister for Economic Affairs and Climate Action, Dr. Robert Habeck signed the agreement
• Germany aims to diversify its gas supply with the help of liquefied natural gas (LNG) in order to foster energy security during the transition period towards carbon neutrality

DP World exhibits petrochemical hub at Supply Chain Conference

• Valued at AED21.4 billion, DP World UAE’s petrochemical hub accounts for 60 percent of Dubai’s total trade value in the sector
• Jebel Ali Free Zone (Jafza) alone supports 4,100 port customers and is home to 565 companies from the petrochemicals sector

Emirates NBD, RSA sign agreement

• The partnership will help increase insurance penetration in the region by providing customers with accessible general insurance solutions, the two firms said in a statement.
• The partnership will also focus on customer education and building awareness on the importance of insurance and its living benefits in everyday life, the statement added.

Dubai records $1.96 billion in weeklong real estate transactions

• A total of 228 plots were sold for AED1.14 billion, while 1,328 apartments and villas were sold for AED3.58 billion.
• The amount of mortgaged properties for the week was AED2.28 billion, with the highest being a land in Al Muteena, mortgaged for AED 461 million.