This fully integrated, all-inclusive community spans 2.2 million square metres and features over 4,500 homes

Inspired by Mediterranean Spanish architecture, Bloom Living is a fully integrated and all-inclusive community located in Abu Dhabi, spanning 2.2 million square metres.

Bloom Living will feature over 4,500 homes including villas, townhouses, and apartments that vary in design and type, offered at remarkably attractive and competitive prices to suit the unique needs of residents of all generations.

Bloom Living: Vision behind the community

Bloom Living reflects Bloom Holding’s broader vision to redefine community living. The development aims to exceed homeowners and investors’ expectations through its premium design and best-in-class amenities. The Dhs9bn gated community, with a guard house offering round-the-clock security, is also an investment zone where expats and foreigners from all nationalities can own
a property.

Bloom Living has been thoughtfully designed so that all the facilities, amenities and services are within walking distance for every resident. Residents can explore the beauty of nature at Bloom Living’s multiple uninterrupted, interconnected parks, and they can also enjoy their time at the community’s main Clubhouse which provides easy access to pools, sports, and recreational facilities. Bloom Living also boasts diverse amenities including playgrounds, manicured gardens, and lush green spaces for its residents to enjoy.

Amenities at the heart of the vibrant community

At the heart of Bloom Living lies a Town Center, a vibrant community destination that offers an array of exquisite restaurants and cafés available for both residents and visitors, as well as a variety of retail options and services such as a medical clinic, a wellness center and a supermarket, to ensure that residents can obtain all their daily necessities without the need to leave Bloom Living.

The focal point at Bloom Living will be a large lake around which residents can walk, run, and cycle on designated trails. For gatherings and leisure activities, the community features multi-purpose amphitheaters and Sunset and Sunrise Plazas with spectacular views. Moreover, Bloom Living comprises places of worship and two international schools.

Prime location of Bloom Living: What does it offer the residents

Conveniently located near Zayed International Airport and the Abu Dhabi-Dubai highway, Bloom Living benefits from Abu Dhabi’s fast-developing infrastructure and lifestyle amenities. Its premium facilities and picturesque landscaping draw homeowners and investors seeking peace of mind and genuine human connection.

Developer reputation: What sets Bloom Holding apart

Over the years, Bloom Holding has solidified its position as a pioneer in developing premium integrated communities in prime locations. The company pays close attention to detail, prioritizing excellence as it offers thoughtfully designed homes with high-end finishes. Bloom Living presents multi-generational offerings centered around community living, as well as an abundance of amenities for residents to lead a fulfilling life.

This project reflects Bloom Holding’s commitment to addressing the needs of those looking for a superior lifestyle experience with everything they need at their doorstep.

Bloom Holding has witnessed exceptional sales results with each launch at Bloom Living, which is a testament to Bloom Holding’s dedication to excellence and its proven track record in delivering thoughtfully designed projects.

Notably, in September 2024, Bloom Holding announced it had begun the handover process of units in Cordoba, the first phase of Bloom Living, three months ahead of its scheduled delivery date. This milestone reaffirms Bloom Holding’s ambition to develop premium units on time, and to the highest standard, providing customers with an asset that delivers great lifestyle with long-term value.

Climate change and sustainability have emerged as crucial topics in recent years, reflecting a heightened global consciousness and dedication to tackling environmental issues. In the UAE, the fight against climate change has been listed as a priority target for sustainability and growth, to achieve its Green Agenda 2030.

The ramifications of climate change extend to the financial services sector as well. Financial experts are increasingly focusing on climate scenarios, recognising the impact on the business and reputation of banks that want to adapt to the increasing sustainability requirements of their customers and the wider industry. However, many financial institutions still encounter challenges in effectively integrating climate scenarios into existing risk management structures.

While risk assessment is not a new topic in the financial world, the need to increase awareness of financial impacts due to climate change has never been more pressing.

‘Risk’ often carries negative undertones in everyday language, however, in the context of risk management, it signifies proactive preparation for forthcoming events. This includes all external factors that impact companies, banks and investors, including future implications of climate change.

What are climate scenarios?

In risk management, climate risks are bifurcated into physical and transitional categories. The former encompasses events like intensified heavy rainfall, like we’ve experienced in April last year, while the latter stems from societal shifts toward a low-carbon or carbon-free economy. Physical risks cause repercussions that can range from acute to chronic scenarios. For example, recurring heavy rainfall may trigger localised floods, alongside causing substantial damage.

To provide context, imagine a scenario where a small company builds a production facility that is unexpectedly flooded by heavy rainfall and is rendered inoperable for months. This not only affects its revenue stream and turnover but also presents challenges in meeting financial obligations such as repaying bank loans.

Consequently, the business finds itself vulnerable to immediate physical risks, which cascade into credit and repayment challenges. While factors pertaining to weather remain largely unpredictable, historical data can indicate which regions are more prone to heavy rainfall than others. Although this does not directly disqualify businesses in these areas from loan eligibility, banks can use this insight to proactively identify and mitigate such risk factors.

Chronic risks are also becoming increasingly realistic. The increasing frequency and intensity of heat waves, or the fact that traditional crops in the Middle East such as wheat no longer thrive as well as they used to, have a long-term impact on agriculture. Rising sea levels also fall into this category and affect the value of coastal property.

While it might seem feasible to overlook the financial implications of climate change, disregarding these risks does not erase them. Failing to acknowledge climate risks is akin to navigating the world blindfolded, making it impossible to see challenges or obstacles, let alone overcome them. Effective risk management involves removing this blindfold, enabling us to identify issues, quantify them, and thereby address them. In this light, the establishment of the United Arab Emirates Ministry of Climate Change & Environment, presents a significant opportunity to promote constructive change, catalyse innovative solutions and drive collaborative effort towards a sustainable future.

How can banks prepare to support sustainability

To effectively manage and mitigate risks arising from climate and other factors, it is crucial for banks to modernise their systems, for now and the future. By investing in appropriate technological solutions, financial institutions can, for example, utilise their data more effectively and leverage robust risk analytics and real-time insights to make more informed decisions.

Embracing open finance and ecosystems further enhances the efficiency and impact of managing climate risks. For instance, integrating third-party applications, through open APIs, that offer access to comprehensive climate datasets, enables banks to gain deeper insights into the specific risks affecting their customers. With technologies such as AI and generative AI, institutions can better analyse this data to enhance risk modelling, climate change scenario planning and ultimately decision-making.

Effective risk management involves developing and employing an awareness of the implications of climate change. This entails assessing the impact of climate scenarios on portfolios, estimating potential profits, losses, changes in value, and being attuned to possible developmental trajectories to prepare for the future.

While such risk assessments were not traditionally common when granting loans, given the rapid progression of climate change, banks must effectively equip themselves to both remain competitive and fit for the future, while contributing to a greener society for all.

The writer is a lead solutions consultant, Treasury & Capital Markets at Finastra

Read: The path to sustainable business through ESG compliance

Saudi Arabia is set to add 362,000 new hotel rooms by 2030 as part of a $110bn expansion of its hospitality sector, according to data released ahead of the 2025 edition of the Future Hospitality Summit (FHS) Saudi Arabia.

The event will be held from May 11-15.

The kingdom’s ambitious growth in infrastructure, real estate, tourism, and hospitality is in line with Vision 2030 and is positioning Saudi Arabia as a global leader in the travel and tourism industry.

This expansion is creating substantial investment opportunities and setting new industry benchmarks, allowing investors to actively participate in the country’s long-term economic transformation, according to industry experts.

Strategic growth and investment opportunities in the kingdom

Oussama El Kadiri, partner and head of Hospitality, Tourism, and Leisure at Knight Frank, stated: “Fuelled by ambitious Vision 2030 goals, Saudi Arabia’s tourism sector presents a compelling investment landscape, evidenced by its record-breaking SAR444.3bn GDP contribution in 2023, accounting for 11.5 per cent of the national economy. This growth reflects the kingdom’s strategic initiative to position itself as a leading global tourism destination.”

El Kadiri also highlighted that international arrivals to Saudi Arabia reached 30 million in 2024, up from 27.4 million in 2023, demonstrating a robust upward trajectory.

This growth is expected to continue, with Saudi Arabia aiming to attract 70 million international visitors annually by 2030.

Impact of global events on Saudi’s hospitality, tourism sectors

The kingdom’s economic transformation will be further bolstered by a series of high-profile global events.

The 2029 Asian Winter Games, World Expo 2030, and the FIFA World Cup 2034 are expected to drive further growth in tourism, hospitality, and related industries, not only increasing visitor numbers but also enhancing Saudi Arabia’s global reputation as a premier destination for leisure, business, and mega-events.

Hotel sector performance

According to leading hospitality data provider STR, hotel room revenue in Saudi Arabia reached $5.6bn between January and October 2024, a 3.5 per cent increase from 2023 and 26.5 per cent higher than in 2019.

Key regions such as Riyadh and Medina saw significant growth in both occupancy and average daily rate (ADR) in 2024, with growth expected to continue in the coming years.

In Riyadh, ADR increased by 16 per cent on 2023, while Medina saw a 5 per cent rise.

Market challenges and forecast

“Saudi Arabia is undoubtedly one of the most exciting destinations in the world, undergoing a remarkable transformation into a world-class tourism hub,” said Philip Wooller, senior director, Middle East & Africa at STR.

“The key to sustaining this momentum lies in balancing the influx of new hotel developments with a competitive market edge. While we anticipate tremendous success driven by strong demand generators, STR also forecasts a slight softening in rates as new hotel supply enters the market in the short term. This adjustment will be crucial in attracting fresh demand and ensuring healthy occupancy levels across the kingdom.”

Read: Dubai to add over 11,300 hotel rooms by 2027; nearly 4,620 expected in 2025

Dubai is set to increase its hotel inventory by more than 11,300 rooms by 2027, with nearly 4,620 rooms slated to open this year, according to a report by leading real estate advisory group, Cavendish Maxwell.

In 2024, the emirate added 4,255 rooms across 19 new hotels, marking a 2.9 per cent increase in its hospitality sector.

By December 2024, Dubai had a total of 724 hotels, offering 151,245 keys.

The city’s hotel inventory is expected to grow by 3.1 per cent in 2025, with a further 3.4 per cent growth predicted for 2026.

By the end of 2027, Dubai will boast more than 162,600 hotel rooms spread across 769 properties.

High-end accommodation dominates Dubai’s hotel landscape

Dubai’s luxury segment continues to dominate the market, with nearly 70 per cent of the available rooms in 2024 falling under the high-end categories of luxury, upper upscale, and upscale.

For 2025, this trend is set to continue, with nearly 70 per cent of new hotel rooms falling into the Luxury and Upper Upscale segments, according to the research.

Gergely Balint, associate partner and hospitality expert at Cavendish Maxwell, commented, “Dubai’s hospitality and tourism sectors reached new milestones in 2024, with 18.72 million overnight visitors. The city added 4,255 new hotel rooms, and we anticipate another 20 hotels and resorts to open in 2025. This reinforces Dubai’s position as a global leader in tourism and hospitality, aligned with the strategic goals of the Dubai Economic Agenda, D33, which aims to position Dubai among the world’s top three tourism destinations.”

Tourism growth and economic impact

Tourism played a significant role in the UAE’s economy in 2024, contributing Dhs236bn, or 12 per cent of the nation’s GDP, up from Dhs220bn in 2023.

The total number of overnight visitors to Dubai grew by 9.1 per cent in 2024, reaching a record-breaking 18.72 million, up from 17.15 million the previous year.

Dubai also garnered international recognition, receiving several prestigious awards at the 31st Annual World Travel Awards, including titles for the world’s leading shopping and exhibition destination, and Dubai International Airport as the world’s leading airport.

Hotel rooms, occupancy metrics

Dubai’s hotel occupancy rates remained steady, rising to 78 per cent in 2024, an increase of 1 per cent from the previous year. The luxury and upper mid-scale segments saw the biggest gains in occupancy, with increases of 3 per cent and 2.4 per cent, respectively.

Average daily rates (ADR) in Dubai reached Dhs690, marking a slight increase of 0.2 per cent from 2023, signaling stability in pricing within the hospitality market. While the Luxury segment saw a decrease in ADR by 1.9 per cent, occupancy within this category increased by 3 per cent, suggesting a rise in demand despite a slight dip in pricing.

Revenue per available room (RevPAR) saw a 1.3 per cent increase in 2024 compared to the previous year, driven by higher occupancy levels.

The upper midscale category saw the largest growth in RevPAR at 1.9 per cent.

International visitors and source markets

Dubai’s international appeal continues to thrive, with Western Europe representing the largest source market, accounting for 20 per cent (3.7 million) of total visitors in 2024.

South Asian visitors contributed 17 per cent, while GCC tourists and Eastern Europeans accounted for 15 per cent and 14 per cent, respectively.

Visitors from Northeast and Southeast Asia saw the most significant growth, particularly due to the rebound of outbound tourism from China.

Dubai International Airport (DXB) also achieved a new milestone, welcoming 92.3 million passengers in 2024, a 6.2 per cent increase over the previous year.

December 2024 marked the airport’s busiest month on record, with 8.2 million passengers passing through.

Performance across the UAE

While Dubai remains the main driver of hotel performance, other emirates also saw growth in their tourism sectors. Abu Dhabi led the UAE in ADR growth, with city hotels and resorts experiencing increases of 14.5 per cent and 14.4 per cent, respectively.

Ras Al Khaimah also saw a 14 per cent increase in ADR, partly due to the completion of the Waldorf Astoria renovation. Fujairah recorded a 4 per cent increase in ADR, with new tourism initiatives aimed at boosting visitor numbers.

Ras Al Khaimah recorded 1.28 million visitors in 2024, a 5 per cent increase from the previous year, and the planned Wynn Al Marjan Island resort, set to open in 2027, is expected to further boost tourism in the region.

Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Deputy Prime Minister and Minister of Defence of the UAE, has issued Executive Council Resolution No (11) of 2025, aimed at regulating the operations of free zone businesses in Dubai.

The resolution, which applies to businesses operating outside free zones, marks a key step in further aligning with the goals of the Dubai Economic Agenda, D3.

The new regulation allows companies licensed by free zone authorities to expand their operations into mainland Dubai, provided they obtain the necessary permits from the Dubai Department of Economy and Tourism (DET).

However, the provisions exclude financial institutions licensed within the Dubai International Financial Centre.

This initiative supports Dubai’s ambition to create a more dynamic business ecosystem by facilitating the expansion of free zone businesses beyond their designated areas.

It also seeks to enhance the competitiveness of Dubai’s business environment, ensuring it remains an attractive and accessible destination for both local and international investors.

Dubai is recognised for its pro-business policies

The city has long been recognised for its business-friendly regulations, and now, with the ability for free zone businesses to seamlessly integrate into the mainland, the resolution strengthens Dubai’s position as a hub for investment, entrepreneurship, and sustainable development.

In addition to improving operational flexibility for businesses, the resolution also emphasizes compliance with both federal and local regulations, requiring companies to maintain separate financial records for their free zone and mainland operations.

Companies wishing to operate outside Dubai will need to secure the necessary licenses from the relevant authorities in those areas.

DET to issue licences to free zone establishments to open branches within the emirate

The DET has been granted the authority to issue licenses allowing free zone establishments to operate in mainland Dubai or to open branches within the emirate. These licenses, which are valid for one year, can be renewed. Specific activity permits will also be available for businesses conducting particular operations within Dubai.

To further support businesses, the DET, in collaboration with other licensing authorities, is tasked with providing a list of eligible economic activities within six months of the resolution’s implementation.

All establishments wishing to operate outside the free zone in Dubai must comply with the resolution’s provisions within one year of its effective date, with the possibility of a one-year extension at the discretion of the Director General of the DET.

This resolution replaces any conflicting previous regulations and is now in effect from its publication in the Official Gazette.

The new resolution is expected to foster increased economic activity, job creation, and innovation, while reinforcing Dubai’s reputation as a progressive and forward-thinking business environment on the global stage.

Read: Dubai to get new free zone cluster