• Luxury markets embrace sustainability

    Environmental, social, and governance (ESG) follow-through serve as the foundation for positive complex luxury sales, with sustainability as a top purchase consideration, reports suggest.
    The luxury markets in the GCC region are experiencing significant growth, driven by an increasing demand for high-end products.

    Despite challenges such as the pandemic, inflation, and banking crises, individuals in the region are investing in luxury items like watches and jewelry due to their potential for future price appreciation.

    This has led to a rise in the number of watch and jewelry collectors, particularly in Saudi Arabia. The GCC region's strong affinity for luxury and renowned appreciation for brands like Rolex, Cartier, and Tiffany & Co. contribute to the flourishing market.

    With rising purchasing power and evolving consumer lifestyles, the market is poised for continued growth in the coming years. Exciting opportunities await in this thriving industry.

  • Luxury tourism in Gulf countries set to reach $11bn this year

    Strategic location, modern attractions and eco-friendly initiatives are driving tourism growth in the GCC region, which is actively developing infrastructure to propel the sector and generate more revenues.
    GCC countries are investing in infrastructure and programs to become leading tourist destinations. With strategic locations, excellent connectivity, iconic attractions like the tallest building, and a commitment to eco-friendly tourism, they are poised for success in attracting visitors from around the world.

  • Dubai real estate sector strengthens on investors' confidence

    Despite global economic crises, the emirate's thriving market, dynamic economy, favorable government policies, and robust infrastructure entice both local and international investors towards real estate investments.
    The present market conditions indicate that investing in real estate assets, especially in beachfront destinations, is opportune. These destinations are expected to significantly contribute to the growth of the UAE's prime real estate sector in 2023 and beyond, with no signs of this trend diminishing.

  • Top car brands adopt sustainable mobility

    Bentley, BMW, Porsche, and Audi lead the way in terms of sustainability by introducing environment-friendly vehicles, aiming to cut CO2 emissions.
    Sustainable mobility necessitates taking into account the entire lifecycle of a vehicle, not just the use phase. This includes sustainable design, end-of-life considerations, and incorporating recyclable materials, say experts.

  • Demand drives up customized car markets

    The affluent population's desire for luxury, distinction and personalized automotive experiences help the sector flourish in the Gulf region.
    Popular car customizations include color changes, custom rims and tires, body kit installations, modified exhaust systems for a more aggressive sound, and upgraded interiors with custom upholstery and audio systems.

  • Luxury car market rides on sustainability

    GCC luxury car market thrives amidst economic challenges, fueled by sustainable models and innovative approaches driving continued growth.
    A shift in consumer preferences -- with a substantial percentage of sales coming from smaller and midsize vehicles -- hasn't dented the appeal of luxury cars, says Peter White, Sales Director at Audi Middle East.

  • Luxury car market navigates challenges

    Developing the necessary infrastructure is the key challenge in achieving sustainable mobility, says Dr. Hamid Haqparwar of BMW Group Middle East.
    In addition to battery electric vehicles, BMW is exploring hydrogen fuel cell technology to harness the potential of clean hydrogen production in the region, adds the managing director of BMW Group Middle East.

  • More females steer toward luxury vehicles

    Stable economy and business activity in the Middle East, including GCC, ensure continued strong demand for luxury cars, says Richard Leopold from Bentley.
    Bentley's Regional Director for the UK, Middle East, Africa, and India also anticipates further growth luxury car market throughout 2023 on the back of economic stability and increased business activity in the Middle East.

  • Recession fails to dent luxury car sector

    Dr Manfred Bräunl from Porsche discusses the evolution of automotive industry, including luxury segment
    Amid rapid tech growth and rising environmental concerns, understanding the current automotive industry trends, especially in luxury, is vital, says Dr Manfred Bräunl of Porsche.