One of the top private developers in the UAE, Damac Properties, will invest $20bn in US data centres. The investment, made through Damac Group’s fully-owned subsidiary EDGNEX, feeds into an existing boom for constructing data centres used in the development of AI and the expansion of cryptocurrency.
The UAE has solidified its position as a leading global passport, ranked among the top 10 most powerful passports in the world, according to the just-released 2025 Henley Passport Index.
The investment bank EFG Hermes has completed its advisory role on the IPO of Nice One, the Saudi Arabia beauty and personal care e-commerce platform. This marks the first e-commerce platform to be listed on the main Saudi Exchange (Tadawul).
Microsoft plans to invest approximately $3bn to enhance its AI and Azure cloud-computing services in India. This move underscores India’s importance as a key growth market for US tech firms, driven by its 1.4 billion population and affordable internet access.
The UAE has set a historic record in its aviation sector, surpassing one million air traffic movements in 2024, according to the General Civil Aviation Authority (GCAA). This achievement was marked on December 22, 2024, with the arrival of Emirates Flight 305 from Shanghai, officially recording the one-millionth movement.
A new collaboration between Zand bank and Klickl International will highlight Zand’s commitment to integrating cutting-edge technology with financial services, addressing the growing demands of the digital economy and supporting the evolution of the Web3 ecosystem.
Dubai Municipality has awarded contracts for the second phase of the Al Mamzar Beach Development Project. Spanning 125,000 sq. metres, it is expected to be completed by the end of 2025 with a total cost of $108m.
Dubai has ranked first in the Middle East and eighth globally in the new 2024 Global Power City Index (GPCI). The index was published by the Mori Memorial Foundation which focuses on conducting research and publishing insights in the fields of urban renewal and development, aiming to design urban environments that support sustainable living.
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.
Sign up for our free newsletter