Dubai real estate boom continues, fueled by increase in luxury home sales

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WHAT WE’RE TRACKING TODAY

THIS MORNING: Two new assistance packages for families, elderly, and people with disabilities + former BP CEO eyes UAE support for PE investments

Good morning, friends. It’s another calm newsday here at home as the summer lull continues, with no single big story driving the news. Still, we have fresh real estate data indicating an increase in luxury property prices despite a dip in supply, as well as a slump in Abu Dhabi sales, plus an update on G42’s AI partnership with the US.

PUBLIC SERVICE ANNOUNCEMENT-

Two service packages aimed at helping boost judicial support and marriage in the country were approved yesterday:

#1- Elderly, people with disabilities, and pregnant women get judicial support in new assistance package: Dubai Courts introduced a service package to streamline judicial processes for senior citizens, people with disabilities, and pregnant women and women in their “iddah” period following a divorce or the death of a spouse, according to the Dubai Media Office. They will be entitled to voluntary legal consultations and representation, postponement and exemption of legal fees, financial support for professional services, and debt assistance. Services can be requested by calling 043347777, visiting the nearest Dubai Courts service office, or through the Dubai Courts website.

#2- Longer maternity leave, marriage loans, and rental assistance for newlyweds approved in new scheme: Abu Dhabi Crown Prince Sheikh Khaled bin Mohamed bin Zayed Al Nahyan signed off on the Emirati Family Growth Program during yesterday’s council meeting, the Abu Dhabi Media Office reports. The program’s key initiatives include:

Extending maternity leave for women in the private sector to 90 days, up from 60 days;
Extending marriage loans to couples about to get married;
Annual rental assistance for newlyweds lasting for four years;
Deductions and extensions of loan repayments in the case of the birth of a fourth child.

WEATHER- Temperatures are on the rise, with the mercury hitting 45°C in Dubai today, with an overnight low of 33°C. Abu Dhabi will see the mercury peak at 40°C, with an overnight low of 34°C.

HAPPENING TODAY-

Progress on trade talks with the Philippines: The UAE and Philippines are on the second day of the second round of negotiations on a trade and economic agreement today in Manila, the Manila Times reports. The countries are looking to finalize the agreement by October or November, Assistant Secretary for Industry Development and Trade Policy at the Department of Trade and Industry Allan Gepty said.

Background: The two countries agreed to initiate talks in December in a bid to boost trade and investment by facilitating the export of goods and services between the Philippines, the UAE, and the broader Gulf region.

WATCH THIS SPACE-

#1- Former BP CEO Bernard Looney is seeking UAE support as he mulls tapping into the private equity market, the Financial Times reports, citing unnamed people it says are in the know. Looney has reportedly had discussions about potential UAE-backed investments with National Security Advisor Sheikh Tahnoon bin Zayed Al Nahyan, as well as Industry Minister Sultan Al Jaber, who also serves as CEO of state-owned oil giant Adnoc and chairman of the country’s biggest renewables player Masdar.

Al Jaber and Looney go way back: Looney maintained a close relationship with Al Jaber during his tenure at BP, says FT, and Al Jaber was among industry leaders who privately reached out to Looney to offer support after his abrupt resignation from BP last year.

#2- Demand for Dubai Aerospace Enterprise (DAE) services is surging amid the lag in new jet deliveries by Boeing and Airbus, DAE CEO Firoz Tarapore told Bloomberg in an interview. “Airlines have intense pressure to make sure that every aircraft they own is up flying and making money for them because the supply of new aircraft is constrained,” Tarapore said. DAE’s maintenance facilities, operated by its Jordan-based Joramco unit, are booked solid for 18 months, according to the CEO. The aircraft lessor — the largest in the region — is also facing delays in plane orders and expects to receive around only half of its Boeing 737 aircraft order.

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DATA POINTS-

#1- The UAE led the region in terms of attracting FDI projects in 2023, accounting for over 60% of all new projects, Wam reports citing data from the Arab Investment and Export Credit Guarantee Corporation. The UAE attracted the highest number of foreign direct investment projects in the region (1.2k), and ranked third in generating nearly 45k new jobs. The Emirates also ranked sixth in terms of investment costs, which came in at USD 14.1 bn.

Dubai led the way with 989 projects (49.4% of regional total), followed by Abu Dhabi with 159 projects (7.9%). Sharjah received 19 projects, and Ras Al Khaimah 10.

REMEMBER- The UAE attracted around USD 30.7 bn of FDI inflows for greenfield projects in 2023, representing 45.4% of total foreign direct investment inflows in the region, according to UNCTAD data. It also led with USD USD 225 bn in cumulative FDI balances, comprising 21% of total incoming balances across the region.

#2- The Dubai Mercantile Exchange’s (DME) total energy trading surged 21% to 680 mn barrels in 1H 2024, up from 562 mn barrels in 2H 2023, Al Bayan reports. The DME’s future contract volumes increased 31% to 505 mn barrels in 1H 2024, up from 385 mn barrels in 2H 2023. The DME’s physical deliveries rose by 9% to 113 mn barrels, compared to 104 mn in 2H 2023.

#3- CI Capital predicts a dip in 2Q 2024 UAE bank earnings compared to 2Q of last year, as well as the last quarter, Zawya cites a preview of MENA bank sector performance by Egyptian financial services firm CI Capital as saying. Emirates NBD's Turkish operations and normalized costs are major factors, while Abu Dhabi Islamic Bank is expected to outperform with strong net interest margins and controlled expenses.

THE BIG STORY ABROAD-

It’s a quiet day in the foreign press, as elections in Europe wrap and heads of state head over to Washington for the Nato summit.

Political analysts are saying it’s a “make-or-break” week for Joe Biden’s re-election as Congress returns from its Fourth of July recess, and today could be an inflection point as Democrats in the Senate hold a caucus meeting at which the way forward for Biden will be Topic #1.

“Go ahead. Challenge me at the convention,” Biden thundered on the call with the hosts of his favorite morning show. “Any of these guys don’t think I should, run against me. Announce for president.” The Financial Times has more on what it’s calling his new “offensive” to keep his campaign.

All eyes will now be on Washington, which plays host to the Nato summit. Russia launched its biggest attack in Ukraine in months on the eve of the summit, hitting a children’s hospital and killing at least 36 people, Reuters reports.

And there’s still no word from France, where centrist and left-wing parties are jostling to see how they can put together a government, France24 notes.

AND IN BUSINESS- There are still folks outside the Middle East committing to venture capital as an asset class. HongShan, formerly the China unit of Sequoia Capital, has raised a USD 2.5 bn, RMB-denominated fund to invest in Chinese startups.

CIRCLE YOUR CALENDAR-

The World Food Security Summit is scheduled to take place on 26 and 27 November at the Abu Dhabi Exhibition Centre (Adnec), Wam reports. The event will gather experts and leaders to exchange views on effective approaches to food security and developing a sustainable global food system and eliminating hunger.

Check out our full calendar on the web for a comprehensive listing of upcoming news events, national holidays and news triggers.

Dubai’s property market strides on in 2Q, while Abu Dhabi sales are down

Dubai's real estate market achieved record-breaking sales in 2Q 2024, with a 45% y-o-y increase to over 43k transactions, according to Property Finder’s Market Digest report (pdf), which cites data from Dubai Land Department (DLD). The 43k transactions reeled in AED 124.4 bn for the sector, up 37% y-o-y.

The sector is also seeing q-o-q growth: This robust performance eclipsed the record transaction volumes set in 1Q 2024, which saw the market grow 17% y-o-y in volume and 2% y-o-y in value, according to the real estate platform.

ICYMI- Dubai-based Primo Capital Experts latest report also stated that the sector saw r ecord transaction volumes in 2Q 2024, surpassing 35k transactions, up 20.5% y-o-y on the back of rising demand in off-plan property and a 15% y-o-y jump in secondary market sales.

Dubai’s off-plan market nearly reached its 2009 high in 2Q 2024, surging 80% y-o-y to 26.2k transactions compared to the 26.6k sales of 2009. Off-plan sales accounted for 60.4% of total transactions, compared to 51% in 2Q last year. In terms of value, off-plan transactions drew in AED 53 bn, up 54% y-o-y.

Transactions in existing properties climbed 12% y-o-y to some 17k transactions, with total value increasing 27% y-o-y to AED 71 bn. However, ready properties represented only 39% of total sales, signaling a shift towards off-plan demand.

ABU DHABI-

Property sales down in Abu Dhabi in 2Q: Abu Dhabi’s property sales slumped 19% y-o-y to AED 6.7 bn in 2Q 2024, while total transactions also fell 17.8% y-o-y to 2.5k transactions.

Existing properties > off plan: Ready properties dominated demand, with transactions increasing 41% y-o-y to 1.1k worth AED 3.8 bn, making up 53% of total transactions during the quarter. On the flip side, off-plan sales fell 49% y-o-y in value to AED 2.87 bn on the back of growing demand for move-in ready homes in the emirate.

OTHER REAL ESTATE NEWS-

Dubai’s luxury property prices climbed 7% y-o-y to AED 3.7k per sq-ft across its prime residential neighborhoods, including Palm Jumeirah, Jumeirah Bay Island, Jumeirah Islands, and Emirates Hills, according to recent analysis by consultancy Knight Frank. The emirate saw some 190 homes priced USD 10 mn and above — worth a total of USD 3.2 bn — sold during 1H 2024, cementing its position as the “deepest USD 10+ mn home sales market,” according to the consultancy.

Prime residential real estate supply fell 47% to 2.8k homes over the past year, driven by a robust appetite for luxury properties from international high net worth individuals,

Sales of homes priced above USD 25 mn rose 25% in 2Q 2024 to 15 sales. This growth contrasts with the historical average of fewer than three sales per year between 2015 and 2021.

ICYMI- High net worth individuals are poised to buy USD 4.4 bn worth of luxury residential real estate in Dubai in 2024, the consultancy found in its Destination Dubai report, as international buyer appetite continues to strengthen and developers launch projects to keep up with demand.

UAE’s Electra snaps up 20% of Egypt’s Elsewedy Electric for USD 450 mn

Electra now owns 20% of Egypt’s Elsewedy Electric: Abu Dhabi-based electrical equipment manufacturer Electra Investment Holding acquired 427.7 mn shares — or around a 20% stake — of Egypt’s Elsewedy Electric, according to an EGX bulletin (pdf). Electra paid USD 1.05 per share, putting the transaction’s value at some USD 449.1 mn, according to our math.

The stake is in the mid-range of what Electra was shooting for: The voluntary offer submitted by Electra in May targeted a 15-24.5% stake in Elsewedy Electric, which is over 76% collectively owned by the Elsewedy family.

Remember: Electra has been purchasing shares in Elsewedy Electric since early June after receiving the regulatory greenlight to move forward with its offer.

Advisors: EFG Hermes was Electra’s sole financial advisor, while BDO Keys Financial Consulting was Elsewedy Electric’s financial advisor. MHR & Partners in association with White & Case were Electra’s legal advisors on the transaction.

OTHER M&A NEWS-

The Ras Al Khaimah government raised its stake in RAK Properties to 34%, up from 5%, after receiving final approvals from the Securities and Commodities Authority, according to a press release.

BACKGROUND- Earlier in March, the developer’s board greenlit a capital increase of AED 920 mn through the issuance of 920 mn new shares to up the government’s stake.

Lunate is now in charge of G42’s USD 10 bn investment fund

G42’s China-focused fund is now run by Lunate: Abu Dhabi-based alternative asset manager Lunate has reportedly taken charge of managing IHC-backed AI outfit G42's China-focused fund, 42X Fund, Bloomberg reports, citing people familiar with the matter. A team will be appointed by Lunate to oversee the investment fund, which the business information service says holds stakes in various Chinese firms, such as TikTok parent company ByteDance and Chinese e-commerce giant JD.com.

About 42X: G42 launched the Shanghai-headquartered tech growth fund in 2022 with an investment of USD 10 bn. The Shanghai office was headed by Jason Hu, the former head of strategic investments at JD.com. Prior to Lunate’s management takeover, 42X Fund was managed by a G42 subsidiary.

REFRESHER- In February, G42 was reported to have already sold all its stakes in all its investments in China — including a USD 100 mn stake in ByteDance — in a bid to reportedly appease US partners, culminating in Microsoft investing some USD 1.5 mn in G42. The second phase of the agreement entails Microsoft exporting large-scale AI components to the UAE, which will require licenses from the US government.

Concerns that the US might pull the plug on the partnership have been swirling for weeks now, with Bloomberg recently saying that Pentagon officials are doubting G42’s commitment to fully divest from China, potentially “imperiling national security.”

It’s unclear whether this move helps address the US’ concerns: The move to transfer ownership of the fund to Lunate could raise concerns that the partnership is not meeting US’ strategic goals, people familiar with the matter told Bloomberg.

Lunate and G42 are both under IHC’s wing: Private markets-focused Lunate is owned by International Holding Company (IHC), a USD 239 bn conglomerate headed by National Security Adviser Sheikh Tahnoon bin Zayed Al Nahyan. IHC is majority owned by G42’s parent company, Royal Group, a private investment firm owned by Al Nahyan.

1.5 GW Al Ajban Solar Plant secures USD 150 mn in funding

Korea Eximbank to provide USD 150 mn for Abu Dhabi’s Al Ajban Solar Plant: The Export-Import Bank of Korea (Korea Eximbank) is set to provide a USD 150 mn loan for the 1.5 GW Al Ajban solar power plant in Abu Dhabi, the Korea Herald reports, citing a statement from the bank. The financing marks the first time the bank provides financing for a renewable energy project in the UAE, and accounts for 16.67% of the total costs of the project, estimated at USD 900 mn.

ICYMI- The development of the project had an initial estimated investment ticket of around USD 748 mn. The bank had signed a letter of interest in the initial stages of the bidding process.

Who are the project’s developers? The Emirates Water and Electricity Company (Ewec) signed a power purchase agreement with an international consortium comprising France’s EDF and Korea Western Power (Kowepo) to develop Ewec’s project in April. Ewec selected the consortium in February and awarded it development rights for the project, with Masdar serving as the local shareholder.

PowerChina recently joined the project: PowerChina Huadong Engineering Corporation secured an engineering, procurement, and construction (EPC) contract for the solar power plant last week. The plant is set to be home to three of the world's largest solar sites when it becomes operational in 3Q 2026.

Mashreq taps new India country head + FAB taps chairman for Sharia committee. Plus: Five Holdings appoints new CDO, CFO

Mashreq appointed Tushar Vikram (LinkedIn) as its new country head and CEO of Mashreq India, according to a statement. Before joining Mashreq, Vikram served as the head of investment banking for India’s HDFC Bank. Prior to that, Vikram spent 27 years at Citibank India, where he worked in several departments covering the commercial bank operations, investment and structured finance, digitization, credit processes, and risk management, the statement said.

First Abu Dhabi Bank named Salim Al Ali as chairman of the bank’s internal Shariah supervision committee after receiving regulatory approval from the Central Bank’s Higher Sharia Authority, according to a press release. Al Ali will stay in office for three years, until May 2027, according to the statement. Al Ali, who was a member of the internal committee since 2020, is the first Emirati national to hold this position.

Five Holdings named Jaydeep Anand (LinkedIn) as co-chief development officer, moving him from his earlier role as chief financial officer, according to a Nasdaq Dubai disclosure. He will also continue to serve as chief sustainability officer, while sharing the CDO position with Nabil Akiki (LinkedIn).

Kallol Kundu (LinkedIn) will take on the role of CFO effective October 2024. Kundu has experience serving as group CFO, chief risk officer, and ESG custodian at The Oberoi Group.

ALSO WORTH KNOWING-

Dubai Ruler Sheikh Mohammed bin Rashid Al Maktoum appointed Abdullah Saif Ali Al Sabousi as the secretary-general of the Dubai Judicial Council. (Wam)
Umm Al Qaiwain Ruler Sheikh Saud bin Rashid Al Mu'alla appointed Sheikh Ahmed bin Khalid Al Mu'alla as advisor for urban planning affairs and member of the executive council. (Wam)

**This story was amended to note that Vikram worked at Citibank India, not Citibank US.

Lunate’s global sukuk ETF with JP Morgan is now live on the ADX

CAPITAL MARKETS-

#1- Lunate’s global sukuk ETF with JP Morgan is now live on the ADX, according to a statement (pdf). The Chimera JP Morgan Global Sukuk ETF tracks the JP Morgan Global IG Sukuk Index and offers investors access to some 75 Sukuks from global issuers, each with at least USD 500 mn outstanding. This marks the 14th ETF listing on the ADX.

MANUFACTURING-

#1- Agthia in KSA: ADQ-owned F&B firm Agthia launched its protein manufacturing facility in Saudi Arabia’s Industrial City 1, an ADX filing (pdf) reads. The AED 90 mn facility can produce up to 9k tons of manufactured protein and will export to more than 25 countries, according to the statement.

REMEMBER- Agthia announced the planned KSA expansion in May 2022 in response to strong demand from local customers. The F&B firm is also looking to set up an export facility in Egypt to serve markets in the Gulf and North Africa, according to Mubarak Al Mansoori, head of the company’s snack sector and government relations.

RETAIL-

Abu Dhabi’s quality watchdog to conduct product inspections at ADGM: Abu Dhabi Quality and Conformity Council (ADQCC) will cooperate with Abu Dhabi Global Market’s (ADGM) registration authority to inspect a range of restricted products, including household electrical appliances and chemical cleaners, tobacco and cigarette products, and vehicle tires, according to a statement. ADQCC will also verify the measurements of pre-packaged goods such as jewelry scales, oud, Arabic perfumes, and fuel meters at commercial centers within ADGM.

CUSTOMS-

Dubai Customs launched its blockchain platform, which aims to speed up customs clearance procedures, boost data security, and cut down on paperwork, a statement from the Dubai Media Office said. The platform will also enable real-time tracking of goods.

MARITIME-

Gov’t launches maritime monitoring tool: The Energy and Infrastructure Ministry launched Satgate, a networking tool that uses satellite and AI tech to enhance ship location efficiency, monitor sea conditions, and forecast weather, aiming to strengthen the UAE’s position within the global maritime sector, Wam reports. Launched in partnership with the Mohammed bin Rashid Space Centre, the project aims to establish a ship database for UAE ports to bolster maritime facility security and track ships without tracking devices.

AVIATION-

Zett Fly Aviation approved to launch Air Kerala, plans domestic and Gulf routes: Dubai-based investors of Kerala’s Zett Fly Aviation have received an initial no-objection certificate from India’s civil aviation ministry to launch regional commuter air transport services, Gulf News reports. The airline, to be dubbed Air Kerala, aims to start domestic flights within Kerala using ATR 72-600 aircraft once it secures an air operator’s certificate from the ministry.

Air Kerala plans to raise INR 250 crore (AED 109.9 mn) for the initial phase, which will cover domestic operations, Chairman Afi Ahmed said. The plan is to later expand into an “international airline serving the Gulf-Kerala sector at affordable fares,” he added.

BANKING-

#1- CBD enters exclusive partnership with Visa for payment cards: Commercial Bank of Dubai (CBD) inked an exclusive partnership agreement with Visa for its credit and debit cards, according to a statement from the lender picked up by Zawya. The partnership will also see CBD and Visa establish a center of excellence that will gather data and insights to inform CBD on improving its customer experience and offering tailored business solutions.

#2- Ajman Bank customers will now be able to make transactions using the Aani platform after the bank completed the integration of the central bank-backed instant payment system, according to a statement from the bank.

ICYMI- Ajman integrated the central bank-backed card Jaywan into its ATMs network last month. Both Jaywan and Aani were launched by the central bank’s digital payments arm Al Etihad Payments as it seeks to accelerate digitalization of the payment sector.

INFRASTRUCTURE-

Al Ain kicks off AED 39 mn project to improve road safety, wildlife conservation: The municipality of Al Ain city has broken ground on a AED 39 mn project to upgrade barrier fencing along 11 main roads to prevent animals from crossing and avoid wildlife-vehicle collisions, Wam reports. The project is scheduled to be completed by 1Q 2025.

LOGISTICS-

Sharjah Publishing City Freezone teams up with Aramex to lure investors: Aramex has signed an MoU with the Sharjah Publishing City Freezone (SPCFZ) that will give businesses operating in the zone access to the logistics firm’s global network, in turn offering Aramex’s clients with incentives to set up projects in the SPCFZ, according to an Aramex statement picked up by Zawya.

INVESTMENTS-

Sharjah attracts Japanese tech investment: A Japanese delegation headed by Jun Imanshi, the consul general of Japan in Dubai, met with CEO of Sharjah Research, Technology and Innovation Park Hussain Al Mahmoudi, to discuss cooperation and potential investments in tech, according to a press release.

TELECOMS-

e& to deliver ultra-fast connectivity: Telecoms giant e& deployed 50-gigabit-capable passive optical networks, delivering internet speeds up to 50 gigabits per second, a press release reads. The high-band network connection will enable “faster streaming of high-definition videos and quicker downloads and uploads, [to support] the growing number of smart devices at homes, from smart TVs to connected appliances,” the statement said.

HEALTHCARE-

Three new nursing residency programs coming up: The National Institute for Health Specialties (NIHS) approved three new specialized nursing programs, slated for launch this year, according to a statement from the Health and Prevention Ministry. The residency programs include one for fresh nursing graduates, one in critical care for adults, and another one in nursing care for mental health.

Germany’s BTC sell-off is causing market jitters

A significant sell-down of BTC by the German government has rattled the market for the cryptocurrency, CNBC reports, adding new selling pressure as traders brace for the continued release of even more supply to creditors of defunct crypto exchange Mt. Gox.

What’s happening? Police in the state of Saxony seized nearly 50k BTC (about USD 2.2 bn worth) back in January. Even after a series of recent sales from that position, it still holds nearly 32.5k BTC that’s worth about USD 1.9 bn at current prices. The government looks to be exiting that position in chunks — it’s sold positions worth USD 379 mn or so, with most of that hitting the market in last two weeks.

It’s a crypto bear… The sales and, in parallel, transfer of German state BTC reserves to other exchanges has helped push the price of BTC to below USD 55k on Friday to mark its lowest level since February. Together with the Mt. Gox transfers, which blockchain data suggests began last week, new supply has helped send BTC down 20% from a month ago.

MARKETS THIS MORNING-

Asian markets are mixed in early trading this morning, with the ASX 200 and Nikkei, the Kospi and Hang in the red, and the Shanghai Composite largely unchanged. Nasdaq, Dow, and S&P futures were all up in overnight trading after the S&P 500 and Nasdaq closed at fresh highs again yesterday.

Futures point to a mixed open for major European benchmarks, with the Euro Stoxx 50, Germany’s Dax 30, and France’s CAC 40 all on track to open in the red while the FTSE 100 looking set to start the day in the green.

ADX	9,133	-0.1% (YTD: -4.7%)
DFM	4,082	+0.3% (YTD: +0.6%)
Nasdaq Dubai UAE20	3,501	+0.3% (YTD: -8.9%)
USD : AED CBUAE	Buy 3.67	Sell 3.67
EIBOR	5.0% o/n	5.3% 1 yr
TASI	11,718	+0.3% (YTD: -2.1%)
EGX30	28,412	-0.7% (YTD: +14.1%)
S&P 500	5,573	+0.1% (YTD: +16.8%)
FTSE 100	8,193	-0.1% (YTD: +6.0%)
Euro Stoxx 50	4,970	-0.2% (YTD: +9.9%)
Brent crude	USD 85.75	-0.9%
Natural gas (Nymex)	USD 2.38	+0.5%
Gold	USD 2,363.50	-1.4%
BTC	USD 56,348.50	-1.7% (YTD: +33.3%)

THE CLOSING BELL-

The ADX fell 0.1% yesterday on turnover of AED 824.9 mn. The index is down 4.7% YTD.

In the green: Sharjah Cement and Industrial Development (+10.3%), Agthia Group (+7.1%) and Presight AI Holding (+5.3%).

In the red: National Bank of Umm Al Qaiwain (-9.5%), Rapco Investment (-8.0%) and EasyLease Motorcycle Rental (-5.3%).

Over on the DFM, the index rose 0.3% on turnover of AED 252 mn. Meanwhile Nasdaq Dubai also closed up 0.3%.

CALENDAR

JULY

13-18 July (Saturday-Thursday): Asia-Pacific Accreditation Cooperation, Dubai.

31 July (Wednesday): Deadline for Sidara to submit another takeover bid to Wood Group.

AUGUST

3 August (Saturday): UFC Fight Night, Etihad arena, Abu Dhabi.

20-21 August (Tuesday-Wednesday): The World ESG Summit, Dubai.

21-22 August (Wednesday-Thursday): Rex Fuels Global Expo & Conference 2024- Bitumen, Petrochemicals & Products, Dubai.

21-22 August (Wednesday-Thursday): Dubai Business Forum in Beijing, China.

Signposted to happen sometime in mid-August:

New regulations around telemarketing calls will go into effect

SEPTEMBER

9-11 September (Monday-Wednesday): World Utilities Congress, Abu Dhabi.

10-11 September (Tuesday-Wednesday): MENA PPP forum, Jumeirah Emirates Towers, Dubai.

10-11 September (Tuesday-Wednesday): MENA District Cooling Projects & MENA Cool Forum, Grand Hyatt Dubai, Dubai Healthcare City, Dubai.

11-12 September (Wednesday-Thursday): MENA oil and gas digitization conference, Abu Dhabi.

16-18 September (Monday-Wednesday): World Utilities Congress, Abu Dhabi.

23-25 September (Monday-Wednesday): WorldFreezonesOrganization’s Annual International Conference and Exhibition, Dubai.

25-26 September (Wednesday-Thursday): Green Steel Summit, Dubai, UAE.

28-30 September (Saturday-Monday): World Association of Nuclear Operators (WANO) Biennial General Meeting, Abu Dhabi.

OCTOBER

1-3 October (Tuesday-Thursday): Water, Energy and Environment Technology Exhibition, Dubai.

2-3 October (Wednesday-Thursday): The World Green Economy Summit, World Trade Center Dubai.

7-8 October (Monday-Tuesday): Forex expo, World Trade Center, Dubai.

8-10 October (Tuesday-Thursday): The Global Rail Transport Infrastructure Exhibition and Conference(Global Rail), Abu Dhabi.

15 October (Tuesday): Deadline for the European Commission to make a decision on its probe into e&’s acquisition of PPF’s Eastern European assets.

21-22 October (Monday-Tuesday): Port Development MEA Forum, Dubai.

21-22 October (Monday-Tuesday): Roads, Bridges, Tunnels MENA Conference, Dubai.

21-22 October (Monday-Tuesday): The Alternative Investment Summit, Dubai.

24-27 October (Thursday-Sunday): International Sports Medicine Conference, Dubai.

26-27 October (Saturday-Sunday): International Conference on Tourism, Transport, and Logistics, Dubai.

28-29 October (Monday-Tuesday): MENA Climate Proof Forum, Dubai.

29 October-2 November (Tuesday-Saturday): Abu Dhabi Early Childhood Week, Abu Dhabi.

30 October-1 November (Wednesday-Friday): World Cities Cultural Summit, Dubai.

NOVEMBER

4-7 November (Wednesday-Saturday): ADIPEC, Abu Dhabi.

4-7 November (Wednesday-Saturday): ADIPEC Maritime and Logistics Exhibition and Conference, Abu Dhabi.

4-7 November (Wednesday-Saturday): ADIPEC Decarbonisation Accelerator, Abu Dhabi.

6 November (Friday): World Finance Forum, Dubai.

11 November (Monday): Dubai Diamond Conference, Jafza One Convention Centre, Dubai.

11-12 November (Monday-Tuesday): META Cinema Forum, Dubai.

11-14 November (Monday-Thursday): Abu Dhabi International Petroleum Exhibition & Conference, Abu Dhabi.

11-14 November (Monday-Thursday): ADIPEC Maritime and Logistics Exhibition and Conference, Abu Dhabi.

18-20 November (Monday-Wednesday): Fastmarkets Middle East Iron & Steel 2024, Dubai.

20-22 November (Wednesday-Friday): Xpanse Abu Dhabi, Adnec Centre, Abu Dhabi

22-23 November (Friday-Saturday): Global Meet on Electronics & Electrical Engineering (GMEEE), Dubai.

23 November (Saturday): Wireless Festival Middle East, Etihad Park, Abu Dhabi.

26-27 November (Tuesday-Wednesday) Global Food Security Summit, Adnec Centre Abu Dhabi.

27-28 November (Wednesday-Thursday): RAK Energy Summit, Al Hamra International Exhibition and Conference Centre, Ras Al Khaimah.

Signposted to happen ahead of ADIPEC:

Changemakers Majlis, Abu Dhabi.

DECEMBER

2-3 December (Monday-Tuesday): National Day, public holiday.

5-8 December (Thursday-Sunday): Formula 1 Etihad Airways Abu Dhabi Grand Prix, Yas Marina Circuit.

8-12 December (Sunday-Thursday): International Desalination and Reuse Association World Congress, Adnec Centre Abu Dhabi.

9-10 December (Saturday-Sunday): The Bitcoin Mena Conference, Adnec Centre Abu Dhabi.

9-12 December (Saturday-Thursday): Abu Dhabi Finance Week, Abu Dhabi.

10-12 December (Tuesday-Thursday): Middle East Business Aviation, Dubai World Central.

10-12 December (Tuesday-Thursday): Middle East Investor Relations Association (MEIRA), Conrad Abu Dhabi Etihad Towers Hotel, Abu Dhabi.

JANUARY 2025

14-16 January (Tuesday-Thursday): World Energy Summit, Abu Dhabi.

FEBRUARY 2025

24-25 February (Monday-Tuesday): 3rd World Passenger Experience Forum, Dubai.

24-26 February (Monday-Wednesday): Connecting Hydrogen MENA, Dubai.

APRIL 2025

16-17 April: Global Ports Forum, Dubai.

OCTOBER 2025

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

Signposted to happen sometime before the end of the year:

Spinneys inaugurates three more stores in KSA

Signposted to happen in 2025:

6-11 April (Sunday-Friday): Geo-Spatial Week 2025, Dubai.
3-4 June (Tuesday-Wednesday): Make-A-Wish International’s Global Wish summit, Abu Dhabi.
TBD: The Middle East Electric Vehicle Show, Expo Center Sharjah.
TBD: e& will complete Adnoc’s private 5G network.

Signposted to happen sometime in 2028:

Abu Dhabi to host the 47th Chess Olympiad.

Signposted to happen sometime in 2029:

Dubai to host the International Conference on Computer Vision.

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