Home prices in Dubai continue to rise amid soaring demand

1

WHAT WE’RE TRACKING TODAY

THIS MORNING: President Mohamed bin Zayed Al Nahyan kicks off Russia visit + Pakistan Mart is coming

Good morning, lovely people. Things have quieted down slightly on the news front, with the big stories of the day being IHC trimming its stake in Adani Energy further — and Dubai’s home prices showing no signs of cooling down.

Plus: Emaar is out with its 2Q 2025 earnings, along with Adnoc Gas, Dubai Islamic Bank, Agthia, and more.

WEATHER- Today will see mostly cloudy skies with a chance of afternoon showers east and south, according to the National Center of Meteorology (pdf). Expect a high of 42°C in Dubai, with a low of 33°C, while Abu Dhabi will see a high of 45°C, with an overnight low of 35°C.

HAPPENING TODAY-

President Al Nahyan meets Putin in Russia: President Mohamed bin Zayed Al Nahyan is meeting Russian President Vladimir Putin in Moscow today to discuss bilateral cooperation, according to the Kremlin’s website. Talks will focus on expanding economic, trade, and energy ties, along with addressing regional and global issues of mutual concern, state news agency Wam said.

WATCH THIS SPACE-

#1- Standard Chartered is the latest to throw its economic forecast for the UAE in the ring, with the international lender cited as saying the economy could grow by 5% in 2025, before decelerating to 4% over the next two years by Khaleej Times. “We continue to observe that geopolitical risks can lead to short-term sentiment jitters, but they do not appear to influence long-term trends in markets or investment flows,” Khaleej Times quotes Manpreet Gill, chief investment officer of Africa, Middle East and Europe, Standard Chartered as saying. “The long-term focus remains very much on the region being a growth bright spot in a world where headline growth remains tepid in many regions,” he added.

How this compares: This is an optimistic forecast when compared to others like the Central Bank of the UAE, which penciled in 4.4% growth this year and 5.4% growth in 2026. Fitch Solutions’ research unit BMI also recently lowered its GDP growth forecast for the UAE to 4.3% in 2025, while the IMF also recently maintained its UAE-wide growth forecast at 4% for 2025. The World Bank raised its GDP growth forecast for the UAE to 4.6% in 2025, citing increased oil production and non-oil momentum.

On inflation: Standard Chartered sees inflation in the UAE stabilizing at 3% this year and the following two years, while the current account balance is expected to reach 7% of GDP this year, before rising to 8% in 2026 and 10% 2027. This is higher than the Central Bank of the UAE’s forecast, which sees it coming in at 1.9%. Meanwhile, the IMF expects it to come in at 2.1% in 2025.

#2- Abu Dhabi to franchise the US’ Sphere Venues across MENA? Abu Dhabi's Department of Culture and Tourism (DET) obtained exclusive rights to develop and operate venues by NYC-based Sphere Entertainment across MENA for at least 10 years, according to a filing to the US Securities and Exchange Commission. The agreement with Sphere Entertainment Group includes plans for Sphere Abu Dhabi, the second global location after Las Vegas, announced last year.

The details: The agreement requires DET to pay initiation fees and ongoing royalties based on ticket sales. Sphere Entertainment will provide technology licenses and operational support.

#3- We’re getting a Pakistan Mart: State-owned logistics giant DP World is partnering with Pakistan’s government to build a Pakistan Mart near Jebel Ali, Arab News reports, quoting government officials. The facility will come at no cost to the Pakistan government and will showcase Pakistani goods for international buyers, akin to Bharat Mart — which will showcase Indian goods and for which development works are underway — and Turk Mart for Turkish traders. The timeline for the development has not been disclosed.

#4- Infinity Power ink agreements for landmark solar projects in Côte d'Ivoire: Our friends at Infinity Power — a joint venture between renewables giant Masdar and Egypt’s Infinity — have signed two concession agreements with the government of Côte d'Ivoire to build two solar plants with a total capacity of 80 MW in Touba and Laboa, the company said in a press release (pdf). The agreements, part of the World Bank’s Scaling Solar initiative, mark Infinity Power’s first collaboration with Côte d'Ivoire and are set to supply electricity to over 400k people. The projects also include the construction of 17 km of transmission lines to connect the plants to the national grid.

#5- Lukoil shifts Dubai trading ops amid sanctions pressure: Russian oil firm Lukoil is moving its regional trading business from Litasco Middle East DMCC (LME) to a newly formed Dubai entity, Alghaf Marine DMCC, Reuters reports, citing sources familiar with the matter. The transaction follows UK sanctions on LME and EU measures against its shipping arm, Eiger Shipping, in July after it reportedly considered sanctioning LME itself in May.

The new entity: Alghaf Marine was incorporated on 31 December 2024 and received an oil trading license in May. It is already active in fuel shipments, including Russian cargoes. The license allows it to trade crude and refined products abroad, as well as oilfield equipment.

DATA POINTS-

#1- Young people now make up half of the UAE’s workforce, state news agency Wam reports, citing statements from Human Resources and Emiratization Minister Abdulrahman Al Awar at the G20 labor and employment ministers’ meeting in South Africa. Meanwhile, women are now in 66% of roles in UAE government entities — with over 30% in leadership roles — and the share of Emiratis in the workforce has jumped by 325% since the launch of the Nafis employment initiative in 2021, he said.

#2- Dubai construction on the up: Dubai Municipality processed over 30k building permit applications in 1H 2025, up 20% y-o-y, with more than 5.5 mn sqm of licensed built-up area approved for execution, according to Dubai Media Office. Commercial and investment projects made up 45% of total approved space, while residential villas accounted for 40% and the rest went to industrial and public buildings.

THE BIG STORY ABROAD-

Front pages are dominated this morning with major trade shake-ups from the White House, a critical turning point in the Gaza war, and a mixed bag of corporate earnings.

Trump escalates tariff blitz on India and chips: US President Donald Trump raised tariffs on India to 50% to take effect starting 27 August, a punishment for its purchases of Russian oil which the White House says is fueling the war in Ukraine. Trump also said he is planning a potential 100% tariff on semiconductor chips from countries that do not have manufacturing operations in the US, a move seen as targeting China.

Tailored for Apple: The iPhone maker will be exempted from the potentially crippling chip tariff after CEO Tim Cook announced the company would increase its investment in US suppliers and jobs.

MEANWHILE- Earnings season pushes on:

Disney reported a strong 3Q, with net income climbing to USD 5.26 bn, more than doubling from a year earlier. Revenue hit USD 23.65 bn, driven by strength in its domestic theme parks and a growing streaming business.
Uber beat revenue expectations with an 18% y-o-y increase to USD 12.65 bn and announced a major USD 20 bn stock buyback.
McDonald's saw its sales return to growth, with revenue hitting USD 6.8 bn driven by new menu items like the revived Snack Wrap and a focus on its chicken offerings.
Airbnb saw revenue rise 13% to USD 3.1 bn, beating analyst estimates.

ALSO- Israel on the brink of full Gaza occupation: Israeli Prime Minister Benjamin Netanyahu is reportedly pushing his security cabinet to approve a “full conquest” of the Gaza Strip. The push for a full takeover comes as Gazans are increasingly starving to death, and faces significant opposition from Israel’s own military chief Eyal Zamir, who warned that such an operation would put an unbearable weight on the Israeli army and endanger the remaining captives.

Also worth reading this morning:

Italian Prime Minister Giorgia Meloni’s government revived a EUR 13.5 bn project to build the world’s longest suspension bridge linking Sicily to the mainland, framing it as part of the country's defense and NATO spending plans.

***

You’re reading EnterpriseAM UAE, your essential daily roundup of business, economics, and must-read news about the UAE, delivered straight to your inbox. We’re out Monday through Friday by 7am UAE time.

EnterpriseAM UAE is available without charge thanks to the generous support of our friends at Mashreq and Hassan Allam Properties. Tap or click here to get your own copy of EnterpriseAM UAE.

Want to send us a story idea, request coverage, ask for a correction, or otherwise get in touch? Reach out to us on UAE@enterpriseAM.com .

DID YOU KNOW that we also cover Egypt, Saudi Arabia, and the MENA logistics industry?

***

Dubai home sales jump in 1H 2025 as prices continue to rise, but delivery delays raise supply concerns

Dubai’s residential market saw prices rise 7.8% q-o-q in 1H 2025 and 16.6% y-o-y, buoyed by strong local and international demand that saw the market rebound in 2Q, according to Cavendish Maxwell’s latest market report. The residential sector saw some 91.9k transactions worth AED 262.1 bn in 1H 2025, up 22.9% in volume and 36.4% in value y-o-y. Transaction volumes were down 2.4% when compared to 2H 2024, however, after muted activity in 1Q.

Strong demand across both off-plan and ready segments and a surge in project launches helped boost performance, the report said. Communities like Discovery Gardens, Al Furjan, Motor City, and Dubai Marina posted double-digit price growth.

Off-plan still leads, but ready sales rebound: Off-plan sales accounted for 70.2% of all residential transactions in 1H 2025. While off-plan volumes dipped slightly from 2H 2024, they remained dominant, supported by attractive payment plans and ongoing launches. Ready sales picked up as well, particularly in 2Q, driven by demand for immediate occupancy and income-generating assets, especially among buyers wary of project delays.

Villas, while making up just 6.9% of transactions, accounted for nearly 30% of total value, reflecting their premium positioning. The luxury segment (AED 20 mn+) saw 1.4k transactions in 1H, up 82.5% y-o-y, as the emirate continues to attract high-net-worth buyers. Apartments accounted for the lion’s share of activity, making up 80% of total sales.

Residential rents were up 9.9% y-o-y as lower renewal rates and increased supply gave tenants more leverage. Renewals made up nearly 67% of the total rental contracts.

Rental yields soften but remain strong: Gross rental yields edged down to 7.2% for apartments and 5% for villas and townhouses as price growth outpaced rents. Dubai Investments Park, International City, and Dubai Studio City posted the highest apartment yields, while Industrial City and JVC led villa/townhouse returns.

Mortgages were also popular: Despite a dip in 1Q, mortgage activity was up 36.7% y-o-y across different property types during the six-month period, with villa mortgages in particular increasing in value as buyers turn their focus to larger-sized, higher-value villas.

Still short on supply: Developers completed some 17.3k units in 1H and launched around 87.9k new units across roughly 300 projects, equivalent to 490 homes per day. Over 61.8k units are in the pipeline for 2H, but only 21% of these have reached 75% construction progress, signaling potential delays in delivery. Developers are expected to continue ramping up launches, while initiatives like the first-time buyer program could help broaden demand.

The bigger picture: Dubai’s wider real estate market recorded AED 431.2 bn worth of transactions from 123.3k transactions during the first six months of this year. Demand was more tempered for industrial and logistics space in the emirate, however, amid high rents and tight supply.

IHC trims Adani Energy stake in AED 768 mn block sale

Abu Dhabi’s International Holding Company (IHC) offloaded a 1.83% stake in Adani Energy Solutions (AESL), the power distribution arm of Indian conglomerate Adani, for INR 17.37 bn (c. AED 727 mn) via open market transactions, The Economic Times reports, citing Bombay Stock Exchange and National Stock Exchange of India data. The identity of the buyers was not disclosed.

What we know: The block was executed through IHC affiliate Envestcom Holding, which sold nearly 22 mn shares at an average price of INR 790 apiece. Following the sale, Envestcom’s holding in AESL dropped to 0.85% from 2.68%.

Background: IHC originally invested USD 2 bn (c. AED 7.3 bn) across Adani Green Energy, AESL, and Adani Enterprises in 2022. It had announced plans to offload stakes in Adani Green and AESL in September 2023, effectively cutting IHC’s exposure to Adani by 50%. Its subsidiary, Green Energy Investment, sold its 1.26% stake in Adani Green, while Green Transmission sold its 1.41% holding in Adani Energy Solutions. In March, IHC also USD 210 mn worth of shares in Adani Enterprises through two other affiliates, though that stake was later acquired by Envestcom.

REMEMBER- Adani is in hot water: The move comes as Adani Group continues to face scrutiny, following a US court indictment in November of last year alleging bribery to secure electricity contracts — a charge the conglomerate has dismissed. Still, IHC raised its stake in Adani Enterprises to over 5% only a week after it said it would divest its stakes in Adani Energy and Adani Green.

IN OTHER M&A NEWS-

DFM-listed Union Properties’ facilities management subsidiary ServeU acquired HouseKeeping and House Keeping Domestic Workers for AED 100 mn, according to a disclosure (pdf). Around 90% of the purchase was funded through bank financing. House Keeping will maintain its brand under ServeU’s umbrella, it said in a press release.

About the firm: House Keeping is said to be the country’s second-largest provider of outsourced domestic workforce and soft facilities management services, with a network of 8.9k domestic workers.
Upside for shareholders: The acquisition is set to start contributing to ServeU’s bottom line from this month, adding around 23% to revenue and boosting EBITDA by 33%, according to the press release.

REMEMBER- Union Properties has been streamlining its balance sheet: Union Properties is on track to fully repay its debt at the end of the year, after securing a conditional AED 700 mn sale in Motor City. The Motor City developer cut its legacy debt to AED 575 mn by the end of 2024, after repaying AED 850 mn to Emirates NBD under a February settlement and striking a separate agreement with Dubailand.

Emaar, Adnoc Gas, DIB, Agthia, and DAE’s 2Q earnings are in

EMAAR-

Emaar’s net income climbs on strong property sales: Emaar Properties saw its net income after tax rise 35.3% y-o-y to AED 4.2 bn in 2Q 2025, according to its financials (pdf). Revenues climbed 26.7% y-o-y to AED 9.7 bn during the period, driven by solid performance across development, retail, hospitality, and international operations, according to a separate earnings release (pdf).

On a 6M basis, Emaar Properties’ bottom line rose 28.7% y-o-y to AED 8.9 bn in 1H 2025, while revenues increased 37.7% y-o-y to AED 19.8 bn.

Sales and backlog hit record highs: Property sales rose 46% y-o-y to AED 46 bn, pushing Emaar’s backlog to AED 146.3 bn, a 62% jump y-o-y indicating a positive outlook for future revenues. The backlog for developments in the UAE alone reached AED 128.6 bn. Emaar Development accounted for AED 40.6 bn of total sales, up 37% y-o-y, while the unit’s revenues saw yearly growth of 35% to around AED 10 bn. Meanwhile, Emaar’s international property sales more than tripled to AED 5.3 bn, driven by strong demand in India and Egypt.

Recurring revenues hold up: Malls and leasing generated AED 3.2 bn in revenue, up 14% y-o-y, while hospitality and entertainment brought in AED 2.1 bn. Total recurring revenue reached AED 5.3 bn in 1H, a 15% increase.

ADNOC GAS-

Adnoc Gas reported a 16% net income increase to USD 1.4 bn in 2Q 2025, according to the company’s management discussion and analysis report (pdf). The company closed the quarter with USD 6.0 bn in revenues — 2% lower on both a yearly and quarterly basis.

During 1H 2025, the company saw its bottom line rise 12% y-o-y to USD 2.7 bn, as contributions from the firm’s domestic gas segment continued to increase, the report read. Revenues came in flat during the period at USD 12.1 bn revenues amid a mixed pricing environment that saw Brent crude fall 14% y-o-y. On the other hand, LNG prices increased 27% y-o-y.

Behind the results: Adnoc Gas CFO Peter Van Driel also cited stable LPG prices amid oil price fluctuations and an increase in sulfur demand contributing up to AED 730 mn annually to its bottom line as factors driving growth during an earnings call.

Adnoc Gas is also ramping up capex investments to USD 20 bn over the next five years, up from the USD 15 bn it had previously earmarked, as it looks to increase its production capacity by 30% through projects including the Rich Gas Development project, Van Driel added.

Dividends: Adnoc Gas’ board approved distributing AED 6.6 bn (c. USD 1.8 bn) in dividends for 1H 2025, equivalent to 8.57 fils per share, according to a separate disclosure (pdf).

DUBAI ISLAMIC BANK-

Dubai Islamic Bank (DIB) posted a 12.8% y-o-y uptick in its bottom line after tax to AED 1.9 bn in 2Q 2025, according to the bank's financial statements (pdf). The bank saw its revenues rise 5.2% y-o-y to AED 3.2 bn during the quarter.

On 1H basis: The lender saw its net income after tax rise 10.5% y-o-y to AED 3.7 bn, supported by 5% increase in its topline, driven by “strong volumes across all business lines,” according to the bank's management and discussion analysis (pdf). DIB also reported a 5.2% y-o-y increase in its revenues to AED 6.4 bn. The bank’s customer base in the UAE surpassed 1.6 mn, marking a 4% YTD increase, while assets crossed the USD 100 bn mark for the first time.

AGTHIA GROUP-

Aghtia Group reported a 85.8% y-o-y drop in underlying net income to AED 10.2 mn in 2Q 2025, as profitability came under pressure from weaker margins in snacking and protein, according to its management discussion and analysis report (pdf). Revenues rose 5.9% y-o-y to AED 1.1 bn, supported by a 19.8% growth in the water and food segment and 5% growth in snacking.

1H bottom line also down: Underlying net income dropped 51.6% y-o-y to AED 96.3 mn in 1H 2025. Group-wide revenues fell 4% y-o-y to AED 2.4 bn, dragged by last year’s one-off wheat trading and the EGP devaluation.

Dividends: The board recommended an interim cash dividend of 10.31 fils per share.

DUBAI AEROSPACE ENTERPRISE-

Dubai Aerospace Enterprise (DAE) saw its bottom line surge 195.9% y-o-y, reaching USD 440.3 mn in 1H 2025, according to an financial statements (pdf). The firm’s revenues rose 24.2% y-o-y to USD 843.6 mn for the same period, which management attributes to rising maintenance returns and lease revenues from newly acquired aircraft.

The company expanded its fleet and network: The company onboarded 230 owned aircraft, managed six aircraft, and sold 28 owned aircraft and seven managed aircraft during the period, according to the statements. The total fleet size of its aircraft leasing division — DAE Capital — reached 731, with 30% of the fleet concentrated in the Americas, followed by 17% in Europe, and 15% in the Middle East. DAE completed its full acquisition of Ireland-based Nordic Aviation Capital (NAC) last May for an enterprise value of USD 2 bn. NAC’s fleet comprised 252 assets as of last September, leased to roughly 50 airlines in 40 nations.

Bank of Sharjah taps new retail, private banking head + dnata and DET appoint new leads

The Bank of Sharjah appointed Paul Cox (LinkedIn) as its new chief retail banking and private banking officer, it said in a press release. Cox has over 30 years of international and regional experience in retail banking and wealth management, and previously held senior leadership roles at First Abu Dhabi Bank and HSBC. Most recently he served as head of advisory for retail banking and wealth management at AcuityX.

Dnata has appointed Alex Doisneau (LinkedIn) as its regional chief operating officer, overseeing airport operations in the APAC and MENA regions, according to a press release. Doisneau has over 30 years of experience in aviation handling and has worked with dnata since 2012, most recently serving as a managing director of dnata’s airport operations in the UK. She will be based in Dubai, and her appointment has come into effect as of August.

Abu Dhabi appoints new registration authority chief: Abu Dhabi Executive Council appointed Mohamed Munif Al Mansoori (LinkedIn) as director general of the Abu Dhabi Registration and Licensing Authority at the Department of Economic Development, according to the Abu Dhabi Media Office. He was previously executive director of the commercial affairs sector within the department.

Du to roll out first Arabic LLM for telecoms sector

AI-

du to develop AI-powered Arabic large language model: Emirates Integrated Telecommunications Company (du) will develop the first Arabic large language model (LLM) tailored for the telecoms industry, according to a press release. The telecoms giant is partnering with Microsoft, Nokia, the 6G Technology Research Center at Khalifa University, and the International Telecommunication Union for the project. The LLM will be used in du’s internal operations to improve efficiency and customer support in Arabic. .

Du’s not alone: Plenty of UAE-based players are working on Arabic LLMs — from G42 subsidiary Inception to startups like Tarjama& and CNTXTAI.

We recently wrote about the rise of Arabic LLMs against the backdrop of an increasingly English-centric space and amid mounting competition here.

LOGISTICS-

#1- AD Ports, MBME partner on trade and fintech solutions: UAE-based fintech and digital services provider MBME Group and ADQ-owned AD Ports Group inked a framework agreement to develop digital trade and fintech solutions for the ports operator, according to a press release. The tie-up will focus on developing fintech and trade tech tools for domestic and international use, including solutions to improve tracing goods, digital payments, and whistleblowing systems.
#2- AD Ports also opened an office in Islamabad as it continues to ramp up investments in Pakistan, according to a press release. The move is part of the group’s larger strategy to position Pakistan as both a regional trade and logistics hub and an FDI target, the statement read. It has already inked a 25-year concession agreement to upgrade terminals at Karachi Port’s East Wharf, and just last month launched its Central Asian logistics JV, GulfLink, which will offer new cargo routes that pass through Pakistan.

CRYPTO-

#1- Nomura's Laser Digital secures Dubai first ever crypto derivatives license: Japanese investment bank Nomura’s digital asset subsidiary Laser Digital obtained a limited license from Dubai's Virtual Asset Regulatory Authority (Vara), according to a statement. The approval allows it to offer regulated OTC crypto derivatives and makes Laser Digital the first Vara-regulated entity to provide client-facing crypto options services.

The license falls under Vara's pilot framework, allowing Laser Digital to offer medium-dated options on major cryptocurrencies and “vanilla structures,” rather than complex ones, Coin Desk reports, citing chief product officer at Laser Digital Johannes Woolard.

#2- Inveniam to invest USD 20 mn in Mantra to tokenize UAE assets: Digital middle office for private assets Inveniam Capital Partners is investing USD 20 mn in Hong Kong-based blockchain startup Mantra to tokenize real-world assets in the UAE and the US, according to a press release.

The details: Inveniam will offer the private assets to global decentralized financial markets — using Mantra’s layer 1 blockchain technology — and ensure full data sovereignty. Both companies will operate through the regulatory frameworks of Abu Dhabi Global Market and Vara.

Tokenization has been gaining traction in the UAE property market, after Dubai Land Department launched the pilot phase of its real estate tokenization project in March. Damac Group announced plans in January to tokenize at least USD 1 bn worth of assets in partnership with Mantra, while MAG also partnered with Mantra to tokenize USD 500 mn in real estate assets.

INS.-

Howden Re secures full DFSA license, expands in Dubai: London-based ins. group Howden Re secured a full reins. license from the Dubai Financial Services Authority (DFSA) to operate from the Dubai International Financial Center, it said in a press release. The firm recently made market inroads into Saudi Arabia, South Africa, and India, and the new license will allow it to expand on its current offering of brokering services in Dubai.

REAL ESTATE-

Shamal to build private island in Dubai: Dubai-based investment firm Shamal Holding is building Naïa Island Dubai, a private estate of suites and private villas off Jumeirah’s coastline, according to Dubai Media Office. Early works are underway on the private estate — which will feature 30 suites and 40 villas within the region’s first Cheval Blanc maison, with an expected 2029 opening, state news agency Wam reports.

Falling business investment could weigh on global growth, says OECD

Is a drop in business investment across OECD nations signaling a threat for global growth? The Organization for Economic Cooperation and Development released a study looking into Understanding the Weakness in Business Investment (pdf) through a cross-country analysis, revealing that a weak investment trend across the 38 member nations of the OECD is contributing to weak global productivity growth.

After the global financial crisis of 2008, fixed investment fell sharply across many countries, especially those of the more developed OECD nations, with the ensuing recovery proving relatively modest, the report explains. Real business investment remains 23% below its pre-crisis trend, with only Israel and Portugal, out of 34 advanced economies the OECD tracked, having recovered and surpassed their pre-financial crisis net investment trajectories.

Insufficient aggregate demand and increased economic uncertainty appear to be the leading factors behind this shortfall, while more structural factors — most importantly the rising importance of intangible assets — are also linked to this lack of recovery, the OECD study explains. The recovery of the business investment environment was further muted by the COVID-19 pandemic. Shifts in corporate strategies — such as greater financialisation and prioritizing shareholder returns over capital expenditures — have also been linked to falling investment levels, the study shows. Meanwhile, the unpredictable rollout of Trump’s tariffs has further discouraged corporations from committing to significant spending plans.

How is this impacting global growth? If corporate spending on new projects and facilities does not pick up, countries will “not be able to sustain growth,” outgoing chief economist at OECD Álvaro Pereira told the Financial Times.

While no Arab nation is a member of the OECD, a drop in business investment still affects the region given the trade pacts and investment agreements between the two sides, so much of the OECD’s conclusions may impact us as well.

The OECD’s survey recommends a comprehensive set of policies to address the weakness in business investment. Key priorities include “reducing uncertainty through transparent, rules-based trade, tax, and regulatory frameworks, and tackling structural barriers to investment by enhancing competition, reducing regulatory burdens, addressing skills shortages and alleviating financing constraints” the organization said.

MARKETS THIS MORNING-

Asian markets are in the green in early trading this morning — Japan’s Nikkei is leading the gains, up 0.9%. The Shanghai Composite, Hang Seng, and the Kospi also started off the day higher.

ADX	10,330	-0.0% (YTD: +9.7%)
DFM	6,156	-0.2% (YTD: +19.3%)
Nasdaq Dubai UAE20	5,125	+0.5% (YTD: +23.1%)
USD : AED CBUAE	Buy 3.67	Sell 3.67
EIBOR	4.2% o/n	4.2% 1 yr
TASI	10,947	+0.2% (YTD: -9.1%)
EGX30	35,480	+0.6% (YTD: +19.3%)
S&P 500	6,345	+0.7% (YTD: +7.9%)
FTSE 100	9,164	+0.2% (YTD: +12.1%)
Euro Stoxx 50	5,263	+0.3% (YTD: +7.5%)
Brent crude	USD 66.89	-1.1%
Natural gas (Nymex)	USD 3.09	+0.4%
Gold	USD 3,433	0.0%
BTC	USD 115,024	+0.8% (YTD: +22.9%)
Chimera JP Morgan UAE Bond UCITS ETF	AED 3.56	+0.9% (YTD: +2.2%)
S&P MENA Bond & Sukuk	147.82	+0.2% (YTD: +5.6%)
VIX (Volatility Index)	16.77	-6.1% (YTD: -3.3%)

THE CLOSING BELL-

The ADX remained flat yesterday on turnover of AED 1.2 bn. The index is up 9.7% YTD.

In the green: Abu Dhabi National Takaful Co. (+10.8%), Ooredoo (+10.2%) and Sudatel Telecommunications Group Company (+4.7%).

In the red: Commercial Bank International (-6.0%), Multiply Group (-3.7%) and Burjeel Holdings (-2.6%).

Over on the DFM, the index fell 0.2% on turnover of AED 731.7 mn. Meanwhile, Nasdaq Dubai was up 0.5%.

CALENDAR

AUGUST

8-15 August (Friday-Friday): Expected trading window for Al Mal Capital REIT’s new units on the DFM.

SEPTEMBER

1-6 September (Monday-Saturday): Dubai Fashion Week, Dubai Design District.

7 September (Sunday) Opec+ meet to discuss production policy for October.

8-10 September (Monday-Wednesday): DigiHealth exhibition, World Trade Center, Dubai.

8-10 September (Monday-Wednesday): WHX-Tech Expo, Dubai World Trade Center.

8-19 September (Monday-Friday): Universal Postal Congress, Dubai World Trade Center.

8-18 September (Monday-Thursday): BHM Capital Financial Services’s AED 200 mn rights issue will be open for subscriptions.

10-11 September (Wednesday-Thursday): MENA Public-Private Partnership Forum, Dubai.

10-20 September (Wednesday-Saturday): IFMA Youth World Muay Thai Championship, Abu Dhabi.

12-14 September (Friday-Sunday): The International Real Estate and Investment Show, Abu Dhabi.

16-17 September (Tuesday-Wednesday): US Federal Reserve’s Federal Open Market Committee meeting.

23-24 September (Tuesday-Wednesday): MENA EV Show, The Agenda, Dubai Media City.

24-25 September (Wednesday-Thursday): The KT UniExpo, The H Dubai.

24-25 September (Wednesday-Thursday): Mohammed Bin Rashid Leadership Forum, Mohammed Bin Rashid Center for Leadership Development, Dubai.

24-25 September (Wednesday-Thursday): Dubai World Congress for Self-Driving Transport, Dubai.

25-27 September (Thursday-Saturday): International Congress of Medical Excellence in Dermatology and Aesthetic Med, Dubai World Trade Centre.

30 September (Tuesday): Africa Debate Conference, Dubai.

OCTOBER

1-2 October (Thursday-Friday): World Green Economy Summit (WGES), Dubai World Trade Center.

30 September-2 October (Tuesday-Thursday): The Water, Energy, Technology, and Environment Exhibition (WETEX), Dubai World Trade Center.

3-16 October (Friday-Thursday): Dubai Home Festival.

7-9 October (Tuesday-Thursday): The International Symposium on the System of Radiological Protection, the Ritz-Carlton Abu Dhabi, Grand Canal.

9 October (Thursday): Family Office Summit, Park Hyatt, Dubai.

9-15 October (Thursday-Wednesday): IUCN World Conservation Congress, Abu Dhabi.

12–15 October (Sunday-Wednesday): Expand North Star, Dubai Harbor.

14-16 October (Tuesday-Thursday): Global Future Councils, Dubai.

15-18 October (Wednesday-Saturday): Middle East Electric Vehicle Show, Expo Center Sharjah.

20 October (Monday): Reuters NEXT Gulf Summit, The St. Regis Saadiyat Island Resort, Abu Dhabi.

22-24 October (Wednesday-Friday): World Investment Conference, Expo Center Sharjah.

27-29 October (Monday-Wednesday): Future Hospitality Summit, Madinat Jumeirah, Dubai.

27-29 October (Monday-Wednesday): Asia Pacific Cities Summit, Dubai Exhibition Center.

28-29 October (Tuesday-Wednesday): US Federal Reserve’s Federal Open Market Committee meeting.

NOVEMBER

4-9 November (Tuesday-Saturday):Dubai Design Week, Dubai.

11-17 November (Tuesday-Monday): International Council of Museums (ICOM) General Conference, Dubai

12 November (Wednesday): Dubai Business Forum, Cipriani South Street, New York City.

12-17 November (Wednesday-Monday): RoboCup Asia-Pacific, Khalifa University, Abu Dhabi.

13-15 November (Thursday-Saturday): International Financial Markets (ICA) Conference and Exhibition, Conrad Dubai.

15-17 November (Saturday-Monday): Myplant & Garden Middle East Green Expo, Dubai Exhibition Center, Expo City.

17-21 November (Monday-Friday): Dubai Airshow, Al Maktoum International Airport, Dubai.

18-19 November (Tuesday-Wednesday): Dubai Future Forum, Museum of the Future, Dubai.

DECEMBER

1-3 December (Monday-Wednesday): Eid Al Etihad (UAE National Day).

1-5 December (Monday-Friday): The World Congress of Neurosurgery, Dubai World Trade Center.

7-14 December (Sunday-Sunday): Asian Youth Para Games, APC headquarters, Dubai.

8-9 December (Monday-Tuesday): BTC Mena Conference, Adnec, Abu Dhabi.

8-10 December (Monday-Wednesday): Bridge media summit, Abu Dhabi.

8-11 December (Monday-Thursday): Abu Dhabi Finance Week, Abu Dhabi's International Financial Center.

9-10 December (Tuesday-Wednesday): US Federal Reserve’s Federal Open Market Committee meeting.

18-23 December (Thursday-Tuesday): Games of the Future, Adnec, Abu Dhabi.

29-30 December (Monday-Tuesday): World Sports Summit, Dubai.

Signposted to happen sometime in 2025:

e& will complete Adnoc’s private 5G network.
Executive Committee Meeting (EXCOM 2025) conference of the World Smart Sustainable Cities Organisation (WeGO)

Signposted to happen sometime in 2H 2025:

Closing of XRG's acquisition of Covestro

JANUARY 2026

1 January: Client asset regime changes in Dubai International Financial Center take effect.

9-11 January (Friday-Sunday): 1 Bn Followers Summit, UAE.

28-29 January (Wednesday-Thursday): IBA Arbitration Day Conference, Abu Dhabi.

FEBRUARY 2026

3-5 February (Tuesday-Thursday): The World Governments Summit.

12-15 February (Thursday-Sunday): The Society for Incentive Travel Excellence Global Conference, Abu Dhabi.

9-13 February (Monday-Friday): The World Health Expo (WHX), Dubai.

Signposted to happen in 2026:

31 March - 2 April (Tuesday-Thursday): Arab Media Summit, Dubai.
13-15 April ( Monday-Wednesday) : The International Glass Manufacturing Show, Dubai.
14-16 April: (Tuesday-Thursday): the International Property Show, Sheikh Zayed Rd, Dubai.
11-13 May (Monday-Wednesday): AI Everything Global, Adnec Center.
The UAE to host the Arab Competition Forum
Dubai to host the Arab Actuarial Conference
United Nations Water Conference
Dubai Future Finance Week
Investopia Global Talks, Tashkent

Signposted to happen sometime in October 2026:

Abu Dhabi Space Week, Abu Dhabi.

Signposted to happen sometime in 2027:

Abu Dhabi’s solar and battery energy facility, combining 5.2 GW of solar capacity and 19 GWh of battery storage, is set for commissioning.

Signposted to happen sometime between 2027 and 2029:

Sibos 2029 organized by the Society for Worldwide Interbank Financial Telecommunication (SWIFT), Dubai.
The commissioning of the seventh phase of Mohammed bin Rashid Al Maktoum Solar Park.

Sections

About

Privacy & Support

Get EnterpriseAM daily