Saudi Arabia’s real gross domestic product grew 4.8 per cent year on year in Q3 2025, driven by strong expansion in both oil and non-oil sectors.

Figures from the General Authority for Statistics (GASTAT) showed oil activities rose by 8.3 per cent from a year earlier, while non-oil activities expanded by 4.3 percent. Government activities increased by 1.4 per cent.

On a seasonally adjusted basis, real GDP grew 1.4 per cent compared with Q2 of 2025.

Quarter-on-quarter, oil activities increased by 3.3 per cent, non-oil activities rose by 0.6 per cent, and government activities grew by 1.1 per cent, the data showed.

The latest figures underline continued momentum in the kingdom’s diversification push as non-oil growth remains resilient alongside a rebound in hydrocarbon output.

Saudi GDP shows continuous growth: Q2 2025

The kingdom’s gross domestic product (GDP) grew 3.9 per cent in the second quarter of 2025 driven by the non-oil sectors, according to government data estimates.

Non-oil activity grew by 4.6 per cent compared to the same quarter last year, according to GASTAT.

Sectors like electricity, gas and water showed the highest growth followed by finance, insurance and business activities.

The economy grew across all sectors with oil up 3.8 per cent and government activities growing 0.6 per cent.

Oil activities showed largest growth compared to Q1, rising by 5.6 per cent.

His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister and Minister of Defence of the UAE, and Chairman of The Executive Council of Dubai, has approved a series of policy frameworks designed to strengthen urban planning, citizen housing, and the emirate’s digital resilience.

The decisions were announced during a meeting of The Executive Council held at Emirates Towers, attended by His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance of the UAE.

Aligned with the Year of the Family announced by His Highness Sheikh Mohamed bin Zayed Al Nahyan and Dubai Social Agenda 33 launched by His Highness Sheikh Mohammed bin Rashid Al Maktoum, the newly approved initiatives include a planning model for residential communities, the Digital Resilience Policy, and the general plan for The Executive Council’s 2026 Agenda.

Sheikh Hamdan said the new policies reinforce Dubai’s commitment to development models that centre on citizen welfare, social cohesion, and long-term sustainability.

“Guided by the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, citizen welfare and family empowerment form the foundation of Dubai’s future plans, driving efforts to make it the best, most beautiful, and most advanced city in the world. This model focuses on creating socially interconnected, service-integrated communities that enhance quality of life through homes, neighbourhoods, parks, schools, and their service centres,” he said.

New urban model prioritising family and sustainability

The Executive Council approved a new framework for citizens’ residential areas, designed to align with the Dubai Urban Plan 2040 and strengthen community cohesion. The model reinforces the traditional concept of the Fareej, creating integrated neighbourhoods linked by shaded walkways, dedicated cycling and running tracks, and interconnected green spaces.

It also introduces a major expansion of parks and facilities. Across Madinat Latifa and Al Yalayis, the plans include:

• 152 new parks, with every home located within 150 metres of green space

• Over 33 km of cycling paths and extensive shaded pedestrian corridors

• Community majlis and wedding halls

• Enhanced social infrastructure, including early childhood centres, schools, clinics, and mosques

In Madinat Latifa, 11 per cent of the total area will be dedicated to open and green spaces, supporting 141,000 residents across 18,500 homes. In Al Yalayis, the model includes a connected green corridor and facilities designed for 66,000 residents.

The integrated approach supports Dubai’s 20-Minute City objective, enabling residents to access key services within minutes.

Strengthening digital resilience

Sheikh Hamdan also approved the Digital Resilience Policy, which provides a comprehensive governance structure to safeguard digital infrastructure and ensure the continuity of essential government services.

“We have one of the most advanced digital infrastructures in the world. To fulfil the objectives of the Dubai Digital Strategy launched in 2023 – digitalising life in Dubai, strengthening the digital economy, and empowering society – we continue to develop a robust digital government model and maintain the continuity and efficiency of digital services. The Digital Resilience Policy has been approved as a key tool to enhance digital leadership in a comprehensive and proactive way,” Sheikh Hamdan said.

The policy is built on a methodology that enhances preparedness, response, recovery, and transformation to ensure operational continuity and strengthen protection of critical digital assets. It emphasises coordinated action between the public and private sectors, covering data centres, networks, cloud platforms, and user systems.

2026 agenda approved

The Executive Council also reviewed Dubai’s 2025 agenda achievements and approved the general plan for its 2026 Agenda. The plan supports Dubai Plan 2033 and outlines targets across economic development, infrastructure, social programmes, security and justice, entrepreneurship, and public services.

The approved policy frameworks collectively reinforce Dubai’s long-term ambition to remain a global leader in sustainable urban planning, digital innovation, and family-centric development.

Mubadala Investment Company and Aldar have announced a landmark joint venture to unlock the next phase of development on Al Maryah Island, advancing Abu Dhabi’s position as the region’s leading international financial centre.

With a gross development value exceeding Dhs60bn, the project covers the final major landbank on the island’s north side — almost 500,000 sqm — and will add 1.5 million sqm of new mixed-use space. The expansion will introduce significant office, residential, retail, and hospitality capacity, reinforcing Al Maryah Island’s evolution into a fully integrated global business and lifestyle hub.

At the core of the development is a major enhancement of Abu Dhabi Global Market (ADGM), which has recorded unprecedented growth with more than 11,000 active licences and nearly 40,000 professionals based in the district. The new masterplan will deliver over 450,000 sqm of Grade A office space, effectively doubling the island’s current commercial supply.

Residential demand is also accelerating, driven by an influx of global investors and professionals. The expansion will introduce more than 3,000 new luxury waterfront residences, complementing branded offerings such as the W and St. Regis projects already under development.

The island’s lifestyle and retail ecosystem will also see notable growth. New plans include 40,000 sqm of experiential luxury retail and dining, a world-class marina, and additional hotel developments extending the island’s hospitality offering anchored by the Four Seasons and Rosewood Abu Dhabi.

A centrepiece of the expansion is the Al Maryah Waterfront enhancement project, featuring a new 75-metre-high bay fountain, alongside reimagined leisure, dining, and event spaces.

Dr Bakheet Al Katheeri, chief executive officer of UAE Investments Platform at Mubadala, said: “This landmark joint venture marks a defining moment in realizing the full potential of Al Maryah Island. As Abu Dhabi’s premier business and lifestyle destination, Al Maryah has always embodied Mubadala’s long-term commitment to cultivating globally competitive, future-ready destinations. By unlocking the island’s final major landbank, we are accelerating its evolution into one of the world’s most dynamic financial and lifestyle hubs — expanding its commercial strength, enhancing its residential and retail offering, attracting international investors, and reinforcing its vital role at the heart of Abu Dhabi’s economic diversification journey.”

Talal Al Dhiyebi, group chief executive officer of Aldar, added: “This expansion represents a pivotal milestone for Abu Dhabi’s continued growth as a global financial centre, with ADGM at its heart. With Mubadala and Aldar’s proven track record in master planning and delivering iconic destinations, we are collaborating to create a world-class, mixed-use environment that will attract leading businesses, investors and talent from around the world. It will support the UAE’s vision for a diversified and knowledge-based economy while enhancing the capital’s allure as a place to live, work and invest.”

Salem Al Darei, chief executive officer of ADGM Authority, said: “Today’s landmark expansion of Al Maryah Island marks a pivotal step in strengthening Abu Dhabi’s standing as a global capital for finance. With ADGM at the heart of this transformation, the development reflects our ambition to create one of the world’s most progressive and connected financial districts, an ecosystem where international institutions, investors, and innovators can thrive. This next chapter reinforces Abu Dhabi’s long-term economic vision and accelerates our journey in shaping a dynamic, future-ready hub that sets new global benchmarks for growth, opportunity, and impact.”

Connectivity upgrades form a core part of the masterplan. Proposed infrastructure includes 2.5 km of air-conditioned pedestrian corridors, over 12,000 parking spaces, and 20% dedicated open space. Three new bridges are planned to connect the north side of Al Maryah Island to Reem Island and the Abu Dhabi mainland, ensuring Saadiyat Island is less than a 10-minute drive away. Enabling works are scheduled for 2026.

The joint venture — held 60 per cent by Aldar and 40 per cent by Mubadala — marks the next chapter in a long-standing partnership spanning more than two decades. The two entities have collaborated on multiple real estate projects across Abu Dhabi, including Al Maryah Tower, One Maryah Place and a retail JV covering The Galleria, Yas Mall and the upcoming Saadiyat Grove Mall.

The Al Maryah Island expansion represents a defining step in shaping the future of Abu Dhabi’s most important business and lifestyle district.

Abu Dhabi’s Al Wathba is preparing to host one of the UAE and region’s largest New Year’s Eve celebrations. The higher committee of the Sheikh Zayed Festival is finalising an exceptional program that promises a 62-minute fireworks show, the world’s largest drone performance, and a diverse lineup of cultural and heritage events presented by participating countries, sponsors, and strategic partners.

The annual celebration strengthens the festival’s position as a global platform for culture, entertainment, and community connection. By combining large-scale spectacles with interactive cultural experiences, the Sheikh Zayed Festival continues to attract visitors from across the UAE and beyond, underscoring its importance as a hallmark of innovation and heritage.

Read more-Dubai’s NYE 2026 fireworks: Special ferry, abra and water taxi packages unveiled

The festival will present a landmark fireworks display aiming to break five new Guinness World Records. The show will unfold in five stages throughout New Year’s Eve, beginning at 8pm and culminating at midnight with the main 62-minute display, WAM reported.

Using the latest synchronisation and launch technologies, the fireworks are set to illuminate the Al Wathba skyline on an unprecedented scale. The continuous, high-intensity display promises a visually breathtaking experience, highlighting both the technical sophistication and creative ambition of the festival organisers.

Drone show innovation takes center stage

Complementing the fireworks, visitors will witness a groundbreaking drone performance featuring 6,500 drones in a single 20-minute sortie. The show will present nine giant aerial formations globally for the first time, synchronised with a digital countdown and integrated seamlessly with the fireworks display.

This visually immersive spectacle exemplifies the festival’s innovative approach to entertainment technology. The combination of fireworks and drones offers a multidimensional experience that merges artistry with advanced engineering, positioning the Sheikh Zayed Festival as a pioneer in large-scale public entertainment in the region.

Sponsors, partners, and cultural highlights

Official sponsors and strategic partners play a central role in the festival, contributing unique elements across dedicated spaces within the event grounds. Government partners provide interactive cultural activations that highlight Emirati heritage and identity, while technical partners deliver advanced lighting, laser, and drone support.

Participating countries bring additional artistic, cultural, and musical programs, emphasising the festival’s collaborative nature and global reach. Visitors will also enjoy traditional Emirati performances such as Al Ayala, Al Razfa, and Al Nadooba, featuring hundreds of performers. International groups add carnival-style parades, musical shows, and cultural demonstrations, creating a truly diverse and engaging atmosphere.

Family programming and safety measures

Families can enjoy dedicated programming, including children’s shows at the Kids’ Theatre and activities at the newly opened Wonderland entertainment city, launched in December 2025.

To manage the large crowds, the higher committee has expanded operational preparations, adding more entry and exit gates, wider pedestrian paths, and strengthened safety and medical services. Specialised field teams will guide visitors and ensure smooth movement. Entry will close once the site reaches full capacity, reflecting the festival’s commitment to safety.

The committee encouraged early ticket purchases and following official channels to guarantee access and enjoy all services.

These extensive preparations highlight the Sheikh Zayed Festival’s vision to deliver one of the region’s most remarkable New Year celebrations. By combining tradition, innovation, and global entertainment, the festival offers a unique platform to welcome 2026 in an atmosphere of excitement, cultural pride, and technological spectacle.

US-based Guggenheim Investments, with assets of about $357bn, is actively considering an office in Saudi Arabia and wants to capitalise on investment opportunities in infrastructure and transportation as part of its expansion in the Gulf region.

The firm has an office in Dubai, the region’s top financial and trade hub, and is in the process of getting licensed in Abu Dhabi, the UAE’s oil-rich capital city and home to sovereign wealth funds managing around $2tr.

“We are very, very positive on the region,” Anne Walsh, chief investment officer at Guggenheim Partners Investment Management, told Reuters on the sidelines of the Milken Institute’s Middle East and Africa summit in Abu Dhabi.

“And to be a leader in artificial intelligence and technology investment, which I see amongst the countries in the region, and the ability to harness energy, both fossil fuels and others, here in the region is going to be strong as well to support that technology business. So I see a great deal of opportunity.”

Asked whether Guggenheim was looking at Riyadh, Walsh said the company was in “active due consideration, yes.”

“And, you know, we are looking to deploy capital in Saudi Arabia as well. So not just with an office, but to actually make investments, and particularly from our transportation equipment and infrastructure investing. That makes a lot of sense to us.”

Saudi and US officials touted billions of dollars in new investments and growing financial ties between the two countries in November.

Gulf states have accelerated efforts to diversify their economies away from hydrocarbons for longer-term sustainable growth, investing heavily in non-oil sectors like financial services, tourism, technology and manufacturing.

Earlier this year, Guggenheim Investments became a strategic partner of the Future Investment Initiative Institute, which organises Riyadh’s flagship annual investment conference.