分类： business

Mashriq Elite Real Estate Developments has officially commenced construction on its fifth residential project, Floarea Skies, in Jumeirah Village Circle (JVC), a prime location in Dubai’s thriving property market. The 23-floor development, situated in District 10, will offer 192 premium yet affordable apartments, catering to the high demand in JVC, which has consistently led in sales transactions in 2024 and the first three quarters of 2025. The project is set for completion by Q4 2027. Floarea Skies will feature a mix of studio, one-bedroom, and two-bedroom apartments, with prices starting from Dh666,000 for a studio, Dh1,069,000 for a one-bedroom, and Dh1,499,000 for a two-bedroom unit. Strategically located at the entry/exit point of JVC, the development boasts proximity to key landmarks such as Dubai Media City, Dubai Marina, and Mall of Emirates, all within a 10-25 minute travel radius. The project also introduces a range of luxury amenities, including a Rooftop Infinity Pool, Zen Garden, Mini Golf, and a fully equipped Gymnasium, setting a new standard for community living. With Dubai’s property market witnessing a surge in demand driven by population growth and global investor interest, Mashriq Elite plans to add over 1,200 residential units across Dubai in the next two years, including projects in Discovery Gardens, Arjan, and Dubai Land Residential Complex.

In a significant move to bolster bilateral ties, Indian airline IndiGo has officially reinstated its direct passenger service between Delhi and Guangzhou, marking the end of a five-year suspension. The daily flight, operated using the Airbus A320neo aircraft, signifies a renewed commitment to fostering economic and cultural exchanges between India and China. This development follows the successful resumption of the Kolkata-Guangzhou route on October 27, 2025, which had been halted due to the Covid-19 pandemic. IndiGo is now the first Indian carrier to restore direct flights between the two nations. Pieter Elbers, CEO of IndiGo, expressed enthusiasm about the expansion, stating, ‘This new route from Delhi, our largest domestic hub, will enhance travel options and strengthen connections between the two countries. It also provides Chinese travelers access to over 90 domestic destinations across India.’ Elbers extended gratitude to both governments for their support in reestablishing these vital links, which are expected to unlock opportunities in trade, tourism, and collaboration.

Dubai’s real estate market is witnessing a surge in demand for furnished, ready-to-move-in homes, driven by the influx of expatriates and professionals seeking convenience and cost efficiency. According to Bayut, nearly 59,000 property transactions were recorded in the third quarter of 2025, totaling over Dh169 billion. Furnished homes accounted for more than 18,500 deals worth Dh86.4 billion, highlighting their growing popularity. Real estate experts attribute this trend to the city’s expanding population, which recently surpassed four million, and the increasing number of foreign workers and investors arriving post-pandemic. Humaira Vaqqas, a senior consultant at Range International Properties, emphasized that furnished apartments eliminate logistical challenges, allowing newcomers to settle in immediately without the hassle of purchasing furniture or setting up utilities. These units often come equipped with essential items like sofas, beds, and kitchen appliances, and sometimes include pre-configured utilities such as Wi-Fi or gas. Industry analysts also note that short-term professionals, often on two- or three-year contracts, prefer the flexibility of furnished homes to avoid long-term investments in household items. This trend is further supported by the moderation in price and rental growth in the mid-market apartment segment, as reported by Cushman & Wakefield Core. As Dubai continues to attract global talent, the demand for seamless living solutions is expected to remain robust.

A Chinese woman, Zhimin Qian, known as the ‘cryptoqueen,’ has been sentenced to over 11 years in prison by a UK court for orchestrating a massive Bitcoin fraud scheme. The 47-year-old defrauded more than 128,000 people in China through a Ponzi scheme, amassing 5 billion pounds ($6.6 billion) in Bitcoin. The UK police investigation led to the largest cryptocurrency seizure in the country, recovering devices containing 61,000 Bitcoin. Qian, who lived an extravagant lifestyle in Europe, was arrested in April 2024 after years of evading authorities. She had been staying in luxury hotels, purchasing fine jewelry, and attempting to buy multimillion-pound properties in London. Qian fled to the UK under a fake identity after attracting the attention of Chinese authorities. Her accomplice, Seng Hok Ling, a Malaysian national, was also sentenced to four years and 11 months for aiding in the transfer and laundering of the cryptocurrency. Judge Sally-Ann Hales described Qian’s actions as driven by ‘pure greed,’ highlighting her disregard for the victims whose life savings and pensions she had stolen.

The Smart and Autonomous Vehicle Industries (Savi) Cluster, a groundbreaking initiative launched by the Abu Dhabi Department of Economic Development (ADDED) and the Abu Dhabi Investment Office (Adio), is set to revolutionize the UAE’s economic landscape. By 2045, Savi is projected to create 40,000 highly skilled jobs across key sectors such as autonomous vehicles, eVTOL aircraft, maritime systems, and robotics. This ambitious project is expected to contribute approximately Dh44 billion to the emirate’s GDP. Ali Al Musawa AlHashmi, a Savi cluster specialist at Adio, emphasized the cluster’s comprehensive approach, which spans the entire value chain from research and development to manufacturing, deployment, and maintenance. Savi has already secured partnerships to launch 29 commercial projects in Abu Dhabi, with a focus on cargo and logistics. These collaborations aim to transform cutting-edge technologies into practical applications that enhance daily life. The recent Abu Dhabi Autonomous Summit 2025, attended by senior officials and industry leaders, showcased innovative solutions and highlighted the UAE’s commitment to fostering a knowledge-based economy. Savi’s ecosystem supports startups through initiatives like Hub 71 and leverages research institutions such as the Advanced Technology Research Council and Mohammed bin Zayed University for AI. With billions of dirhams invested and a focus on attracting foreign direct investment, Abu Dhabi is positioning itself as a global hub for advanced industries and sustainable economic growth.

Dubai Taxi Company PJSC (DTC) has announced a remarkable 28% year-on-year increase in net profit for the third quarter of 2025, reaching Dh76.4 million. This growth was fueled by heightened trip volumes and sustained demand across its mobility services. The company’s revenue also saw a significant boost, climbing 15% to Dh585.3 million, driven by fleet expansion and a 7% rise in completed trips, totaling 13.1 million across taxi and limousine services. Ebitda surged 23% to Dh151.4 million, with margins improving to 26%, up two percentage points from the previous year. The taxi segment remained the primary revenue generator, contributing Dh506 million, a 12% increase year-on-year, as the operational fleet expanded to 6,215 vehicles, including 401 fully electric units. Limousine revenue saw a modest 1% rise to Dh27.8 million, while the bus segment nearly doubled its revenue to Dh29.8 million, following revised contract terms with a major client. Delivery bike services experienced a 62% surge, reaching Dh18.3 million, reflecting robust growth in the on-demand delivery market. DTC distributed Dh160.7 million in dividends for the first half of the year in August, adhering to its policy of paying out at least 85% of annual net profit. The company concluded the quarter with a net debt-to-Ebitda ratio of 1.5x and a cash balance of Dh68 million. CEO Mansoor Rahma Alfalasi highlighted the company’s disciplined execution and operational excellence, noting a strategic partnership with Kabi as a significant step toward advancing Dubai’s e-hailing ecosystem. This alliance integrates DTC’s 6,215 taxis and Kabi’s 3,680 vehicles into Bolt and Zed platforms, aligning with Dubai’s goal to shift 80% of taxi trips to e-hailing. Looking forward, DTC aims to sustain growth through efficiency gains, digital enablement, and fleet optimization, while progressing toward its target of full electrification by 2040.

Lulu Retail Holdings, the largest full-line retailer in the Gulf Cooperation Council (GCC) region, has unveiled an ambitious expansion strategy to open 50 new stores across the UAE, Saudi Arabia, and other GCC countries over the next three years. This announcement comes on the heels of a robust financial performance in the first nine months of 2025, with the company reporting a 7.5% year-on-year increase in net profit, reaching $163 million.

Gold prices in Dubai experienced a significant uptick on Tuesday, with 24K gold inching closer to the Dh500 per gram mark. According to data from the Dubai Jewellery Group, 24K gold was trading at Dh499.25 per gram at market opening, reflecting a Dh13.5 increase over the past 24 hours. Similarly, 22K, 21K, and 18K gold were priced at Dh462.75, Dh443.25, and Dh379.75 per gram, respectively. This surge follows a period of easing after a strong rally in global precious metals, driven by softer economic data that has reinforced expectations of interest rate cuts by the US Federal Reserve. Spot gold also saw a rise, trading at $4,138.23 per ounce, up 0.59%, with a notable 3% jump late on Monday. Dilin Wu, a research strategist at Pepperstone, highlighted that central bank purchases, particularly by the People’s Bank of China (PBoC), have provided steady support for gold. However, shifting market expectations around a potential December Fed rate cut are limiting further gains. Wu noted that gold has been trading in a range-bound pattern, with bulls maintaining a modest edge. He added that a sustained push above $4,100 could open the door to further gains, while a drop below $4,000 might see support at $3,880–$3,900. Safe haven buying has been a key driver of recent gold support, as concerns over valuations have led to significant pullbacks in global tech stocks and AI-related equities. This has prompted a shift into defensive assets like gold. Additionally, central bank purchases, including those by the PBoC, Poland, Turkey, and other emerging markets, have provided structural support, complementing safe-haven flows and bolstering gold’s position.