Dubai’s World Expo 2020 plans to award 47 construction contracts valued at 11 billion dirhams ($3 billion) this year, providing an economic boost for the United Arab Emirates even as oil prices remain low, reports Bloomberg.
Damac Properties Dubai Co. PJSC, the company building Donald Trump-branded homes and a golf course in Dubai, said it may expand developments in London as the weak British currency attracts buyers, reports Bloomberg
Growth in Dubai will accelerate this year even as oil prices remain low and slower trade puts pressure on the emirate, senior government officials told Bloomberg.
Dubai Duty Free cut prices after a weaker pound led to lower airport sales and expects to boost revenue by 5 percent this year, driven by spending by Chinese travelers, say Bloomberg
Dubai home prices are set for another year of decline with supply outstripping demand even as developers delay the completion of properties, according to real estate adviser CBRE Group Inc, reports Bloomberg.
A showdown over shawarma has come to Dubai, reports Bloomberg.
Crude oil at $50 a barrel is too low for most producing countries, according to United Arab Emirates Energy Minister Suhail Al Mazrouei, who was speaking to Bloomberg.
Rome-based utility owner Enel SpA is targeting renewables projects in Saudi Arabia and the United Arab Emirates as oil-rich Gulf countries take advantage of the falling cost of solar power to diversify their energy supplies, reports Bloomberg.
President-elect Donald Trump said on Wednesday that he was offered $2 billion a few days ago to make a deal in Dubai with a major property developer but turned it down because he didn’t want to have a conflict of interest after his election. reports Bloomberg
A change is as good as a rest they say, and often it’s a change of pace that the soul craves most, writes Scott Armstrong.