{"id":100423,"date":"2025-02-06T00:00:00","date_gmt":"2025-02-06T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/this-morning-eshraq-to-invest-in-shuaas-bond-offering-dubai-to-lead-luxury-real-estate-price-growth-this-year-savills\/"},"modified":"2025-02-06T00:00:00","modified_gmt":"2025-02-06T00:00:00","slug":"this-morning-eshraq-to-invest-in-shuaas-bond-offering-dubai-to-lead-luxury-real-estate-price-growth-this-year-savills","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2025\/02\/06\/this-morning-eshraq-to-invest-in-shuaas-bond-offering-dubai-to-lead-luxury-real-estate-price-growth-this-year-savills\/","title":{"rendered":"THIS MORNING: Eshraq to invest in Shuaa\u2019s bond offering? + Dubai to lead luxury real estate price growth this year -Savills"},"content":{"rendered":"

id: 2025-02-06-03:02:48:699t Good morning, friends. <\/strong>It\u2019s another busy day of news, with fresh data on non-oil sector activity in January and the UAE\u2019s non-oil foreign trade in 2024. Let\u2019s dive in. <\/p>\n

WEATHER-<\/strong> We\u2019re <\/strong>in for another sunny day across the country<\/strong>, according to the National<\/a>Center of Meteorology (pdf)<\/a>. Temperatures today will hit 28\u00b0C in Dubai with an overnight low of 18\u00b0C, and 27\u00b0C in Abu Dhabi before cooling to an overnight low of 18\u00b0C.<\/p>\n

WATCH THIS SPACE- <\/p>\n

<\/a> #1-<\/strong> Eshraq<\/strong> considers stake in Shuaa\u2019s bond offering:<\/strong> Real estate investment firm Eshraq Investments is set to discuss a potential investment in Shuaa Capital\u2019s mandatory convertible bond offering during a board meeting tomorrow, it said in an ADX disclosure (pdf)<\/a>. <\/p>\n

REMEMBER-<\/strong> Investment platform Shuaa Capital plans to issue a total of AED 642.5 mn<\/a> in mandatory convertible bonds for capital optimization. The firm was set to vote<\/a> on the issuance of AED 425.5 mn in convertible bonds and their conversion into shares during a general assembly meeting earlier this week, which was later postponed (pdf)<\/a> to 17 February, following approval<\/a> from its board of directors last year. <\/p>\n

It\u2019s all part of a correction plan:<\/strong> The company went through a restructuring in 2024 after reaching an agreement with bondholders to extend the payment terms for USD 150 mn<\/a> worth of bonds, appointing a new management team<\/a>, and settling around AED 500 mn<\/a> in margin facilities. It also finalized an agreement with its senior creditor to restructure AED 208 mn<\/a> in outstanding facilities and secured a USD 300 mn<\/a> seven-year facility from the National Bank of Fujairah and the Arab Energy Fund just last month.<\/p>\n

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<\/a> #2- <\/strong>Dubai<\/strong> is set to see the fastest growth in luxury real estate prices globally in 2025<\/strong>, with values forecast to climb 8% to 9.9%, according to a Savills report<\/a>. Global luxury property values are expected to grow by 1.6% on average \u2014 down from 2.2% in 2024 \u2014 with cities like Sydney, Madrid, Barcelona, Lisbon, and Cape Town also seeing gains, while London, Singapore, Shenzhen, and San Francisco are expected to face declines due to policy changes and market headwinds.<\/p>\n

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#3- <\/strong>The<\/strong> UAE\u2019s judicial system has begun trialing AI-powered decision-making <\/strong>in <\/strong>select cases<\/strong>, Khaleej Times<\/a> reports, citing Salem Ali Juma Al Zaabi, head of Emergency, Crisis, and Disaster Prosecution. <\/p>\n

The AI is being tested in cases \u201cwhere the outcome is very clear,\u201d <\/strong>Al Zaabi said at AI Everything in Abu Dhabi, stressing that \u201cin the justice sector, it is important not to act slow.\u201d While AI aids in document analysis, translation, and case summaries, he clarified that decision-making remains under human oversight due to ethical considerations.<\/p>\n

DATA POINTS- <\/p>\n

<\/a> #1-<\/strong>Abu <\/strong>Dhabi Airports sees record passenger and cargo growth in 2024:<\/strong> Passenger traffic rose 28.1% at Abu Dhabi Airports in 2024 to 29.4 mn travelers, according to an Abu Dhabi Media Office statement<\/a>. Zayed International Airport was the key growth driver, adding 29 new destinations and welcoming eight new airlines, including British Airways and Air Astana. Aircraft movements increased 10%, to 249k in 2024, with strong demand from the UK, India, Qatar, and Egypt.<\/p>\n

Cargo volumes also saw a major boost<\/strong>, climbing 21% y-o-y to 678.9k tonnes. The surge was supported by infrastructure investments, including a new AED 85 mn storage facility in Al Falah and a AED 320 mn warehouse project with Radius<\/a>Group<\/a>.<\/p>\n

PSAs-<\/p>\n

#1-<\/strong>UAE<\/strong> opens applications for 10-year Blue Residency visa:<\/strong> The UAE has begun accepting applications for its 10-year Blue Residency visa, designed for environmental experts, sustainability advocates, and climate change specialists, Gulf News<\/a> reports. Eligible applicants include scientists, researchers, investors, entrepreneurs, and award-winning environmentalists.<\/p>\n

Applications are processed via the Federal Authority for Identity, Citizenship, Customs, and Port Security<\/strong> through its smart services platform<\/a>. The visa requires proof of contributions to sustainability and climate action, and applicants must first submit a nomination request before proceeding with the visa application.<\/p>\n

REMEMBER-<\/strong>The Blue Residency visa was first approved in May 2024<\/a> by Dubai Ruler Mohammed bin Rashid Al Maktoum as a 10-year residency program for professionals making extraordinary contributions to environmental sustainability.<\/p>\n

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#2- You might now get served for unlawful use of the<\/strong> Emirate of Dubai and Government <\/strong>of Dubai emblems<\/strong>, after Dubai officials enacted a law against their use by unauthorized entities, according to the Dubai Media Office<\/a>. Use is limited to authorized locations, events, documents, and seals, with use now requiring permission from the Chairman of Dubai\u2019s Ruler\u2019s Court. <\/p>\n

Criminal penalties and fines:<\/strong> Violations may result in imprisonment of up to five years or fines between AED 100k and AED 500k, or both. The law takes effect upon publication in the Official Gazette, with implementation resolutions to be issued by the chairman of The Executive Council. <\/p>\n

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HAPPENING TODAY-<\/p>\n

#1- The Mubadala Abu Dhabi Open continues today with the quarter finals at Zayed <\/strong>Sports City<\/strong>. The big games to watch out for today: <\/p>\n