Fancy a serving of fresh, informative ‘real estate insights’ for breakfast?

Look no further than the GB Business Breakfast Briefing: Real Estate Edition, happening on February 20, 2025.

Register for the event at the earliest here

For more information about the event, be sure to read here

Taking place at The Westin Mina Seyahi Dubai, this event will gather industry leaders, investors, and stakeholders to share valuable insights into the UAE’s real estate landscape. The panel discussion, themed “Breaking Ground: The UAE Real Estate Outlook,” will provide attendees with in-depth knowledge on:

• The forces shaping the real estate industry in the UAE
• Insights into current trends
• An overview of future developments and opportunities
• Key drivers of the industry across Dubai, Abu Dhabi, and Ras Al Khaimah

The panel features some of the most prominent names in UAE real estate, carefully selected to provide attendees with thought-provoking and valuable insights into the industry.

Speakers Include:

• Daniel Hadi, CEO Middle East, Engel & Völkers
• Firas Al Msaddi, CEO and Founder, fäm Properties
• Taimur Khan, Head of Research & Development, JLL
• Fibha Ahmed, Vice President of Property Sales, Bayut
• Tatiana Veller, Managing Director, Stirling Hospitality Advisors

Representatives from Grohe and Anax Developments will also be present at the event.

In collaboration with the Game Changers Awards, the panel discussions will not only provide attendees with a comprehensive understanding of the UAE real estate sector but also serve as a networking and collaboration platform.

This is an event no industry professional in the region should miss!

When: 20/02/2025, 8:00 AM
Where: The Westin Mina Seyahi, Dubai

AGENDA

08:00 AM: Registration & Breakfast
09:00 AM: Welcome Speech by Manish Chopra, Publisher, Gulf Business
09:05 AM: Chair’s Opening Remarks by Gareth van Zyl, Editor, Gulf Business
09:20 AM: Keynote Speech

09:30 AM: Panel Discussion 1 – Will Dubai’s Property Boom Continue?

– An in-depth analysis of Dubai’s real estate surge. What’s fueling the boom, and what are the potential challenges and opportunities for investors and developers over the next 5 to 10 years?

10:00 AM: Q&A
10:15 AM: Keynote Speech

10:20 AM: Panel Discussion 2 – Spotlight on Ras Al Khaimah: The New Frontier

– Exploring how gaming and tourism are catalyzing Ras Al Khaimah’s real estate growth. A focus on untapped investment opportunities, emerging hotspots, and how the emirate is differentiating itself from the broader UAE market.

10:50 AM: Q&A
11:05 AM: Keynote Speech

11:15 AM: Panel Discussion 3 – Focus on Abu Dhabi’s Real Estate Opportunities

– An analytical exploration of the factors driving Abu Dhabi’s property market in 2025. This discussion will cover the uptick in foreign investments, government policies enhancing transparency, and the rise of sustainable developments in the emirate.

11:45 AM: Q&A
11:55 AM: Game Changers Awards Ceremony
12:15 PM: Audience Q&A and Closing Remarks

Saudi Arabia’s consumer market is defying global economic trends, showing resilience in the face of rising costs and shifting patterns in discretionary spending, according to the latest 2025 Global Consumer Outlook report by AlixPartners, the global consulting firm.

Despite broader global trends of reduced consumer spending in regions like the US and Europe, Saudi Arabia’s consumer sentiment remains strong, with robust spending projections for 2025.

The report, which surveyed over 15,000 consumers across nine countries, highlights a six-percentage-point net positive shift in Saudi spending intentions, positioning the kingdom as a notable outlier in global consumer behaviour.

“Saudi Arabia’s retail landscape is undergoing a profound transformation,” said Karl Nader, partner and MD at AlixPartners. “While consumer confidence remains evident in categories like dining out and entertainment, rising costs are reshaping shopping behaviours. Consumers are prioritising value, exploring discount options, and balancing essentials with discretionary spending. This evolution will compel operators to rethink their engagement strategies and innovate to meet the changing expectations of the Saudi shopper.”

The findings underscore Saudi consumers’ commitment to both value and experiences, even as they adopt more cost-efficient purchasing strategies.

Spending on essential categories, including groceries and clothing, remains consistent while spending in discretionary sectors shows notable growth — particularly among younger demographics.

Key findings in Saudi consumer spending

Grocery and clothing categories: Spending on groceries (56 per cent, up from 54 per cent last year) and clothing (43 per cent, up from 40 per cent last year) shows a clear trend toward value-driven consumption. Consumers are increasingly opting for entry-price ranges and private-label products as they seek affordability in response to rising costs.

Dining out and entertainment: Dining out remains a polarising category. One-third of Saudi consumers plan to spend more on dining out, while globally, 34 per cent of consumers plan to spend less.

Additionally, 33 per cent of Saudi consumers intend to increase their spending on entertainment outside the home, compared to just 19 per cent globally. This reflects the kingdom’s robust appetite for new experiences, with younger shoppers (18-34 years) driving growth in these areas.

Rise of discounters: Discount-driven retailers are gaining ground, challenging established players in both the grocery and fashion retail sectors.

These retailers are reshaping consumer expectations and shopping behaviour, particularly among value-seeking consumers.

Shift toward local experiences: Saudi consumers remain eager to travel, but affordability and the growth of domestic tourism offerings have led to a surge in staycations and local experiences. The desire for international travel is strong, yet many are now opting for more budget-friendly, local alternatives.

Digital integration in shopping: Digital technologies such as AI-driven product recommendations, mobile payment solutions, and delivery services are increasingly integrated into Saudi consumer shopping experiences, reflecting the growing demand for convenience and seamless digital interactions.

Contrasting global trends

The report notes that, while Saudi Arabia and other emerging markets such as the UAE and China show resilience, spending in the US and Europe continues to decline.

Consumers in these regions are grappling with inflation and economic uncertainty, with spending projections for 2025 expected to be even more restrained than this year.

“Consumers now have more choices than ever before,” Karl Nader concluded. “Established operators will need to innovate and reimagine their approach to thrive in this dynamic environment. Success will come to those who prioritise value-driven offerings, leverage digital tools, and adapt swiftly to meet the changing demands of Saudi shoppers.”

Saudi Arabia’s consumer market is expected to maintain its growth trajectory into 2025, with a clear shift towards value-driven consumption, growing demand for experiences, and the continued adoption of digital shopping conveniences.

With younger consumers leading the charge, businesses will need to adapt to a rapidly changing landscape, balancing the demands for both affordability and enhanced experiences.

Häcker Kitchens by Innerspace: Redefining High-end Kitchens in the UAE: Häcker Kitchens celebrates 15 years in the UAE, marking a decade and a half of excellence in high-end kitchen design. Dubai’s high-end kitchen industry has undergone a remarkable transformation during this time, with Häcker Kitchens by Innerspace leading the way. As Innerspace commemorates this milestone, the company continues to shape the future of kitchen design with innovation, precision, and excellence. Founded in Germany in 1898, Häcker Kitchens has built a legacy of quality and craftsmanship, and since entering the UAE market, the brand has consistently set new benchmarks. Samir Ranavaya, the founder & CEO of Innerspace, has been instrumental in this journey, ensuring that every innovation aligns with his vision for perfection.

How it all began: Visionary journey to the UAE

The decision to bring Häcker Kitchens to Dubai was driven by Ranavaya’s deep appreciation for art, architecture, and design. Samir Ranavaya gauged an opportunity to elevate the high-end kitchen industry by introducing a showroom experience unlike any other. Inspired by the immersive kitchen retail concepts in the UK, the Dubai flagship store on Sheikh Zayed Road became a pioneering space where clients could engage with expert designers, explore 3D presentations, and immerse themselves in a curated selection of materials. This innovative approach quickly set a new benchmark in the industry, thanks to Samir’s relentless pursuit of perfection.

Excellence in high-end kitchen design

Innerspace has distinguished itself through an unwavering commitment to quality and perfection. Samir Ranavaya has instilled a meticulous approach that oversees every detail across more than 1,000 steps, from design and procurement to manufacturing and installation. This dedication to refinement and continuous improvement has cemented Innerspace’s reputation as a market leader within just two years of its inception, a testament to Samir’s vision for uncompromising excellence.

Culture of Integrity, Discipline, and Knowledge

At the heart of Innerspace’s success lies a high-performance culture built on integrity, discipline, and a commitment to continuous learning. Samir Ranavaya’s leadership is defined by honouring commitments, fostering transparency, and making decisions that benefit all stakeholders. Striving for perfection is not just an aspiration but a disciplined practice, reinforced by his relentless pursuit of knowledge and an openness to learning from every experience. His ability to lead by example has shaped a company culture that values continuous growth and refinement.

Blending German Engineering with Nature-Inspired Design

Häcker Kitchens expertly combines German precision with nature-inspired aesthetics, redefining kitchen spaces with the perfect balance of functionality and timeless beauty. Rooted in meticulous craftsmanship, every design seamlessly integrates cutting-edge technology with organic textures, ensuring an effortless fusion of innovation and natural elegance.

Samir Ranavaya’s vision has played a pivotal role in transforming the kitchen from a purely utilitarian space into the heart of the home—a place where warmth, sophistication, and tranquillity come together. By incorporating elements such as sustainable wood finishes, stone worktops, and ambient lighting, Häcker Kitchens creates an inviting atmosphere that reflects both modern sensibilities and nature’s harmony.

Beyond aesthetics, each kitchen is engineered for superior performance, featuring intelligent storage solutions, ergonomic designs, and state-of-the-art appliances that enhance the cooking experience. This commitment to blending precision with artistry ensures that every Häcker Kitchen is not just a statement of refined taste but a seamless extension of contemporary living.

Two Decades of Experience-Shaping the Future

With nearly 20 years in the high-end kitchen industry, Ranavaya continues to innovate and inspire. Samir Ranavaya’s journey has been one of continuous growth, fuelled by a philosophy of always seeking better solutions, questioning the status quo, and embracing new possibilities. His ethos is centered on the belief that nothing is impossible — it is simply a matter of discovering how to achieve it.

Philosophy Rooted in Perfection and Innovation

Drawing inspiration from ancient wisdom and a blend of modern and traditional principles, Innerspace operates with a philosophy of striving for the greater good. Samir Ranavaya has cultivated an environment of relentless improvement, where every process, design, and service is fine-tuned to deliver the highest standards of quality. His dedication to perfection has become the foundation upon which the company thrives.

A Day in the Life of a Visionary Leader

For Samir Ranavaya, the driving force behind Häcker Kitchens by Innerspace, each day is a carefully balanced blend of strategy, communication, and personal well-being. Adhering to the 8:8:8 rule—eight hours of sleep, eight hours of work, and eight hours dedicated to family, friends, and personal growth—ensures a structured and fulfilling lifestyle. Conversations with teams, vendors, and clients revolve around innovation and continuous progress, reinforcing Ranavaya’s mission to redefine excellence in high-end kitchens.

Vision for the Future of High-End Kitchens in the Middle East

Häcker Kitchens celebrates 15 years in the UAE, a milestone that reflects its enduring commitment to excellence in high-end kitchen design. As Innerspace marks this achievement, Samir Ranavaya remains dedicated to pushing the limits of design, functionality, and craftsmanship. By embracing the latest innovations while staying true to its core values, Häcker Kitchens by Innerspace is poised to continue shaping the future of high-end kitchens in the UAE for years to come.

Asian stock markets slumped on Monday, February 3, and European and US equity futures pointed sharply lower after President Donald Trump’s tariffs on Canada, Mexico and China triggered fears of a broad trade war and a hit to global growth.

The US dollar shot to a record peak against the Chinese yuan in offshore trading, its highest against Canada’s currency since 2003 and the strongest against the Mexican peso since 2022.

Trump administration: How has it affected crypto markets

Stocks in Hong Kong, which include listings of Chinese companies, fell 1.1 per cent upon reopening from Lunar New Year holidays. Mainland Chinese markets resume trading following the holidays on Wednesday.

Duties imposed on Canada and Mexico

Trump slapped Canada and Mexico with duties of 25 per cent and China with a 10 per cent levy at the weekend, calling them necessary to combat the flow of migrants and fentanyl into the US.

Read: Dollar gains as Trump floats tariffs, threatens ‘taking back’ Panama Canal

Canada and Mexico immediately vowed retaliatory measures, and China said it would challenge Trump’s levies at the World Trade Organization.

The tariffs, outlined in three executive orders, are due to take effect at 12:01 am ET (0501 GMT) on Tuesday.

Ushering of a global trade war

Trump’s move was the first strike in what could usher in a destructive global trade war and drive a surge in US inflation that would “come even faster and be larger than we initially expected,” said Paul Ashworth of Capital Economics.

Important: Trump calls for $1tn Saudi investment, lower oil prices

A model gauging the economic impact of Trump’s tariff plan from EY chief economist Greg Daco suggests it would reduce US economic growth by 1.5 percentage points this year, throw Canada and Mexico into recession and usher in “stagflation” at home.

Barclays strategists previously estimated that the tariffs could create a 2.8 per cent drag on S&P 500 company earnings, including the projected fallout from retaliatory measures from the targeted countries.

Fluctuations in currencies

The US currency climbed as much as 2.8 per cent to 21.2547 Mexican pesos, the highest since March 2022, and rose 1.4 per cent to a level not seen since 2003.

The euro dropped as much as 2.3 per cent to $1.0125 – the lowest level since November 2022. At the weekend, Trump said tariffs on Europe will “definitely happen”.

US two-year Treasury yields rose as much as 3.6 basis points to 4.274 per cent, a one-week high, on concerns tariffs will stoke US inflation and delay Federal Reserve interest-rate cuts.

Two-year Japanese government bond yields rose in sympathy, reaching their highest levels since October 2008.

Leading cryptocurrency bitcoin tumbled to as low as $91,439.89, a three-week trough.

Red Sea Global (RSG), the developer behind the regenerative tourism destinations The Red Sea and AMAALA, has introduced its new residential property brand, Red Sea Residences.

This marks a significant step in the luxury living market, offering a select portfolio of exclusive homes in some of Saudi Arabia’s most sought-after coastal locations.

Red Sea Residences is set to redefine ultra-luxury living, providing homes designed by renowned architects and supported by five-star hospitality partnerships. Each property is crafted with a focus on sustainability.

“We’re pioneering the creation of a one-of-a-kind luxury residential market here in Saudi Arabia,” said John Pagano, group CEO of RSG. “Residents will effectively own a piece of the Red Sea while experiencing modern, secluded island and coastal living within the kingdom.

“In line with our regenerative tourism ethos, all Red Sea Residences homes have been designed to enhance the surrounding environment and benefit nearby communities, delivering for people and the planet.”

First Development on Shura Island

The first of Red Sea Residences’ developments is located on Shura Island at The Red Sea destination, with properties set to be ready for handover by the end of 2025.

Shura Island serves as the hub of The Red Sea, featuring 11 resorts, luxury marinas, retail districts, restaurants, and the kingdom’s first 18-hole island golf course, Shura Links.

Homes on Shura Island will offer residents access to pristine beaches, azure waters, and luxury amenities, with easy connectivity to other parts of the broader destination and its iconic resorts.

The initial offerings include two branded communities. The Four Seasons Private Residences will comprise 75 spacious three- to five-bedroom villas ranging from 414 to 534 square metres, offering expansive views of the sea and golf course.

The Ennismore’s SLS Residences will feature 15 sleek one- to four-bedroom residences ranging from 130 to 423 square metres.

Additionally, Shura Marina Residences will offer 36 apartments, with one- to three-bedroom units ranging from 190 to 364 square metres. These homes will boast large balconies and terraces with stunning sea and marina views, as well as direct access to the marina and the island’s high-end retail and dining experiences, including restaurants led by Michelin-starred chefs.

Expanding residential portfolio

RSG’s plans for Red Sea Residences extend beyond Shura Island. The company is working on further developments, including more properties on Shura Island and a range of residences at AMAALA, its wellness-focused destination set to open later this year.

An integrated resort island community is also planned for launch later in 2025, offering a multi-generational lifestyle opportunity.

The Red Sea and AMAALA destinations

The Red Sea welcomed its first guests in 2023 and currently has five hotels open. It is also home to the Red Sea International Airport (RSI), which serves as a key entry point to the destination.

The airport, located within three hours’ flying time of 250 million people, has been operating domestic flights since September 2023, with international flights starting in April 2024.

A twice-weekly route between The Red Sea and Dubai International is now in operation.

RSG is on track to complete Phase One of The Red Sea, which will include 16 hotels, by 2025.

The first phase of AMAALA is expected to open later this year. By the end of 2025, RSG aims to open 25 resorts and deliver close to 450 luxury residences.

Read: Red Sea Global’s CEO shares how the firm is delivering on Saudi’s tourism agenda