A new collaboration at the Digital Assets Lab at Qatar Financial Centre aims to make distributed ledger technologies (DLT) accessible to organisations worldwide. DLT are digital systems (such as blockchain) that record and share data across multiple locations or participants simultaneously, without needing a central authority.
As part of the UAE Energy Strategy 2050, Al Ajban is poised to become one of the world’s largest single-site solar facilities, a major part of the UAE’s push towards zero-emission clean energy.
Dubai’s real estate sector has achieved a historic milestone in 2024, with a record 180,900 transactions totalling $142bn. This marks a 36% increase in transaction volume and a 27% rise in value compared to the previous high of 133,100 sales worth $111bn in 2023.
The Abu Dhabi Global Market (ADGM) has announced a major reduction in commercial license fees effective 1st January 2025. The new fee structure, aimed at enhancing ADGM’s business ecosystem, offers significant savings for non-financial and retail businesses operating within the jurisdiction.
Dubai’s appeal as a hub for regional and global investors continues to grow with a report showing that a total of 51,561 new companies joined the Chamber from January to September 2024, reflecting a 4% year-over-year increase. This aligns with the goal of creating and supporting a favourable business environment set out by the Dubai
Saudi Venture Capital (SVC) has announced its investment in Global Ventures III, an early-stage venture capital fund managed by Dubai-based Global Ventures, with a fund size exceeding $150m.
The drive towards a diversified economy took a new leap last year. A report just published from the UAE Ministry of Economy has revealed that non-oil sectors played a central role in the UAE’s economic growth during the first half of 2024, contributing 75% to the country’s GDP.
Abu Dhabi’s global tech ecosystem Hub71 has signed a Memorandum of Understanding (MoU) with the emirate’s Authority of Social Contribution – Ma’an as a way of helping accelerate social tech entrepreneurship and bringing lasting social impact to the emirate.
Abu Dhabi’s Mubadala Investment Company played a major role in sovereign wealth fund (SWF) activity in 2024, accounting for nearly 20% of the $136.1bn total spent worldwide. Mubadala deployed $29.2bn in 2024, a substantial rise from the $17.5bn invested the previous year. Key focuses included the digital economy, AI and digitisation.
Dubai Land Department (DLD) has unveiled plans to introduce its Smart Rental Index in January 2025, a cutting-edge initiative designed to revolutionise the emirate’s real estate sector.
Sign up for our free newsletter