The World Economic Forum has formalised plans to establish three new Centres for the Fourth Industrial Revolution in 2025. In a major development for the GCC region, two of the cities will be Riyadh and Muscat with the third in Pretoria, South Africa. Each of them will develop innovative, locally relevant strategies to address pressing
With many countries in the West struggling economically, the GCC has seized the moment to position itself as a land of opportunity. From visionary government policies, innovation-friendly initiatives, and a relaxation of immigration laws, the GCC has rapidly transformed into a major destination for businesses and entrepreneurs.
Saudi Arabia has achieved a record-breaking 178 venture capital deals in 2024, solidifying its position as the leading hub for VC funding in the MENA region. The Kingdom accounted for 31% of all deals in the region, according to the newly-released 2024 Saudi Arabia Venture Capital Report.
Etihad Rail has announced a groundbreaking high-speed train project that will connect Abu Dhabi and Dubai. The project further cements the UAE’s status as a global leader in smart transportation, with the high-speed rail system enhancing the nation’s transport infrastructure while also aligning with the UAE Net Zero 2050 Strategy.
Oraseya Capital has been named the most active investor in the UAE for 2024, according to the UAE Venture Investment Report by MAGNiTT. The rankings are measured by number of deals.
Dubai real estate developer Andalusia Group has launched Bottega Nove Premium Residences, an Italian-inspired luxury development valued at $57.2m. The project, located in the Majan area of Dubailand, is set to feature nine floors crafted from Italian materials, blending sophisticated design with luxurious finishes.
Dubai International Airport (DXB) has maintained its position as the world’s busiest international airport for 2024, with 60.2 million available seats. This marks a 7% year-on-year increase in airline capacity and a 12% rise compared to pre-pandemic 2019 levels. OAG calculates the busiest international airports using international airline capacity only, excluding domestic flights.
Dubai Holding Real Estate’s Meydan has awarded a $144m contract to Bhatia General Contracting for the construction of Naya at District One.
The launch of Crypto Tower in Dubai’s Jumeirah Lakes Towers (JLT) marks a significant step in supporting the city’s growing blockchain, DeFi, and Web3 industries.
Chinese officials are reportedly considering involving Elon Musk in negotiations surrounding TikTok’s US operations, just days before the app faces potential prohibition under new legislation. Officials are reportedly brainstorming ways for Musk to help broker a resolution.
Sign up for our free newsletter