I was recently talking to friends in Beirut and had one of those conversations that stays with you. I was asked, “Why is everyone talking about Dubai? Is it just hype or is there something more?”

It’s a fair question.

Most people notice the headlines, the skyscrapers, the glamour. But they rarely see what lies beneath – the solid business fundamentals driving this momentum. As someone operating in the heart of this market every day, I’d like to offer some perspective for those on the outside looking in.

Dubai is not just expanding; it’s evolving with intent.

In 2025, that story continues to unfold with purpose and precision. Every neighbourhood reflects ambition, innovation, and resilience. This is not hype – it’s trust, earned during one of the world’s biggest stress tests.

After COVID, the UAE didn’t recover – it reset the rules of growth

While much of the world was locked in paralysis during the pandemic, the UAE acted – decisively rolling out mass testing, vaccinations, and policies to support business continuity. That wasn’t just effective crisis management, it was proof of savvy execution – and it transformed how the world sees this place.

The results speak for themselves. In just the first quarter of 2025, Dubai welcomed 89,695 new residents – an average of 1,000 people a day – bringing the population to 3.92 million by the end of March. This is the driving force behind one of the most alluring real estate markets on the planet.

Dubai offers something rare: stability in a volatile world

You can invest here without worrying about currency controls or political uncertainty. No income tax. No capital gains tax. That changes the investment math instantly. Rental yields average between 6 and 8 per cent net – and these returns are backed by real end-user demand. Families are settling here, not just passing through.

Residential capital values rose 5 per cent quarter-on-quarter and 25.9 per cent year-on-year in Q1 2025, according to the ValuStrat Price Index. Apartments posted a 21.4 per cent annual gain, and villas jumped 30.3 per cent – figures that signal confidence, not just movement.

Transaction volumes tell another story. Over Dhs70.8bn in real estate deals were recorded in the first half of 2025, with apartments accounting for nearly 78 per cent of sales. Average ticket sizes for both off-plan and ready homes reached Dhs2.7m, reflecting sustained investor appetite and a growing trend toward ownership.

From velocity to value: a market maturing by design

The market is shifting from velocity to value, focusing on long-term growth, smarter development cycles, and measured delivery. And crucially, this evolution is being guided with intent.

The government’s 2040 Urban Master Plan sets out a vision to double Dubai’s population and create a more inclusive, sustainable urban landscape. That strategy informs how infrastructure, mobility, and housing are planned.

Developers are responding. By the end of Q1, nearly 12,000 new units were handed over – representing 19 percent of the 61,580 homes expected for the year. Areas like JVC, Business Bay, and Dubai South are leading the charge.

Read: Invest in Dubai real estate from just Dhs500: Know how

Looking ahead, more than 170,000 units are currently under construction across the emirate, with completions expected through 2029. The mix – 70 per cent apartments and 30 per cent villas/townhouses – is aligned with demographic shifts and affordability needs.

And affordability itself is evolving. Apartment rents rose 10 percent in Q1, and villa rents 5.1 per cent. The appetite for ownership is growing, especially among first-time buyers and young professionals.

Developers are responding with more innovative, tech-integrated, and community-centric designs. Homes are becoming smarter, more flexible, and more human – not just priced to sell but built to live in.

The Ministry of Hajj and Umrah in Saudi Arabia has introduced a new feature that allows pilgrims to use the Nusuk App without consuming internet data, thanks to a collaboration with major Saudi telecom providers, stc, Mobily, and Zain.

This initiative is part of ongoing efforts to enhance the digital experience for pilgrims during Hajj, Umrah, and visits to Al Rawdah Al Sharifah.

Read-Umrah visas now require approved hotel booking via Nusuk Masar

According to ministry spokesperson Dr Ghassan Al Nuwaimi, the feature is now available to all users with local SIM cards, including citizens, residents, and visitors. It enables them to access all Nusuk services, such as permit issuance, booking, navigation, and inquiries, without requiring an active data plan.

Enhanced services to support pilgrims’ needs

Dr Al Nuwaimi emphasised that this step marks a significant leap in facilitating pilgrim services and ensuring ease of access to essential digital tools. Key features include booking Haramain High Speed Train tickets, navigating through the app’s interactive maps, using the AI assistant, and submitting inquiries or reports, all without using mobile data.

The Saudi Press Agency (SPA) reported that this development will positively impact the pilgrim experience by empowering users to manage their journey with greater ease and convenience.

Nusuk platform CEO Eng. Ahmed Al Maiman highlighted that the partnership with telecom operators strengthens crowd management, streamlines access to real-time information, and helps reduce the number of lost individuals during peak pilgrimage seasons. It also speeds up the permit verification process, ensuring a smoother overall experience.

The move reflects the ministry’s broader commitment to digital transformation, aiming to build an inclusive technical infrastructure that removes both technical and financial barriers. It’s a step toward a smarter, more accessible pilgrimage experience for millions of users worldwide.

Kaspersky has expanded its cybersecurity training portfolio with the launch of a new vishing (voice phishing) module on its Automated Security Awareness Platform (ASAP). The move comes amid a surge in voice-based scams targeting corporate employees, with attackers using increasingly manipulative tactics to gain access to sensitive data and financial assets.

The newly introduced module aims to help organisations strengthen their first line of defence by teaching staff how to recognise and respond to vishing attempts—fraudulent schemes in which attackers use phone calls to extract personal information, banking details, or login credentials.

“As social engineering evolves, so must the way we educate people about it. Vishing is no longer just a threat to individuals – it’s increasingly being used to target organisations, leading to financial losses, data leaks, and reputational damage,” said Tatyana Shumaylova, senior product marketing manager at Kaspersky Security Awareness. “Our new vishing module equips users with the knowledge to defend themselves against voice-based deception – a threat that is becoming increasingly sophisticated and personal. We help companies prepare their employees to recognise and resist this type of attack. Since vishing is often a gateway to more serious breaches, it’s vital to build awareness across a wide range of related topics.”

Read: Crypto scam alert: 5 things to know about the new Google Forms fraud, says Kaspersky

Vishing attacks are often launched through urgent emails asking recipients to call a listed phone number. Unlike email-based phishing, which allows victims time to assess suspicious links or content, vishing relies on high-pressure tactics over the phone. Attackers commonly use fear and urgency to pressure employees into revealing confidential information.

Kaspersky cited recent cases highlighting the scale of the threat. Irish bank AIB reported a 79 per cent year-on-year increase in vishing incidents in early 2025, including one scam in which a business customer nearly lost $47,000. In another high-profile case, attackers identified by Google as group UNC6040 used vishing tactics to target Salesforce users at around 20 organisations. Victims were tricked into installing a malicious application, granting attackers full access to corporate systems.

To counter these evolving threats, the new Kaspersky ASAP module features real-world case studies, interactive lessons, and simulated scenarios. The platform, which now supports over 30 languages, is designed to be accessible and scalable for global enterprises.

Kaspersky’s latest training initiative reflects a broader industry focus on strengthening cyber hygiene through continuous employee education, particularly in response to the growing sophistication of social engineering attacks targeting businesses of all sizes.

UAE-based AI-powered Spacetech company Space42 reported a resilient first-half performance for 2025, maintaining profit levels and improving margins amid continued operational optimisation and strategic expansion.

The company, listed on the Abu Dhabi Securities Exchange under the symbol SPACE42, posted a normalised net profit of $53m, flat compared to the same period last year, but with a higher margin.

Cash and short-term deposits stood at $816m as of June 30, alongside a newly secured $0.7bn ECA-backed funding facility. Space42 also reported contracted future revenues of $6.8bn.

“H1 2025 demonstrates our commitment to operational excellence and capability building. The momentum across our platform shows that our dual-use capabilities deliver both commercial success and strategic value. With Thuraya-4 entering commercial operation and our programmatic approach taking hold, combined with sustained optimization, we’re positioned for growth aligned with market demand,” said MD Karim Sabbagh.

Space Services recorded 2 per cent year-on-year revenue growth in Q2 2025, reaching $100m, led by double-digit growth in the oil and gas sector. Growth was attributed to demand for secure communications and mobile satellite services in the UAE, with this trend expected to continue.

The recent launch of the Thuraya-4 satellite, set to enter commercial service in H2 2025, is expected to accelerate growth with new offerings in defense, security, and commercial applications.

The company also reported progress in its direct-to-device (D2D) system, with further developments anticipated later this year.

Despite underperformance linked to multi-year programme timing, Smart Solutions continued capability development and began seeding key programs set to scale in H2 2025. It is focused on deploying the Foresight system, featuring seven Earth observation satellites, and advancing the GIQ geospatial analytics platform, now available on Microsoft Azure Marketplace.

These efforts were recognised with the Future Fit seal by the UAE government under the UAE Space Agency, underscoring the strategic value of Space42’s dual-use technologies.

Strategic pillars show broad progress

Space42 reported progress in these areas:

• Launched the Middle East’s first SAR satellite manufacturing facility in partnership with ADIO.
• Completed construction of a High-Altitude Platform Systems (HAPS) manufacturing and R&D site, targeting full commercial rollout by 2026.
• Signed MoU with Microsoft and Esri for the Map Africa Initiative, a five-year AI-powered mapping program across all 54 African countries.
• Scaled the GIQ platform ahead of full commercialisation in Q4 2025.
• Received the UAE Government’s Future Fit Seal for innovation.
• Advanced joint venture with FADA and EDGE to develop a national geospatial ecosystem.
• Continued development of AI-integrated command and control systems and sensing technologies.
• Near completion of Thuraya-4 in-orbit testing, with 16 new products rolling out including IP Neo Broadband and Thuraya Broadband Hotspot.
• Ongoing development of D2D space systems with Viasat, establishing a 5G NTN multi-orbit platform.
• Continued progress on the Al Yah 4 and Al Yah 5 satellite programme, with design reviews underway. These assets support a $5.1bn, 17-year government contract generating $300m annual revenues from Q4 2026.

Read: Space42, Microsoft, Esri to expand mapping capabilities across Africa

Financial highlights: At a glance

Saudi Arabia has revised its unemployment target to 5 per cent amid continued improvements in job creation, workforce participation, and private sector employment, according to the final 2025 Article IV Consultation report released by the International Monetary Fund (IMF).

The Ministry of Human Resources and Social Development (HRSD) welcomed the report’s findings, which underline the country’s accelerating labor market transformation under the Vision 2030 reform program. One of the most notable achievements includes a drop in Saudi national unemployment to 7 per cent by Q4 2024, surpassing the original Vision 2030 target ahead of schedule, a Saudi Gazette report conveyed.

Read-Work perks: What employees in Saudi really want in 2025

The new 5 per cent target signals growing confidence in Saudi’s economic outlook and reflects progress in inclusive employment strategies. The IMF report noted that female labor force participation has doubled over the past five years to reach 36 per cent, while both youth and female unemployment rates have halved in a four-year span.

Private sector job growth and higher wages

The labor market is not only becoming more inclusive but also increasingly dynamic. In 2024, private sector employment for Saudi nationals grew by an average of 12 per cent, with momentum continuing into 2025. Wage premiums are rising, especially in higher-skilled sectors, signaling increased returns on education and workforce development initiatives.

An HRSD spokesperson commented: “This report confirms that our Labor Market Strategy is delivering results at scale. Unemployment is falling, private sector opportunities are growing, and female participation in the workforce has reached historic highs. The structural transformation underway is real and it is delivering tangible benefits to citizens across the Kingdom.”

The IMF also praised legislative changes, including the February 2025 amendments to Saudi labor law, and highlighted government investments in workforce training, flexible employment models, and affordable childcare as critical enablers of long-term productivity and labor market inclusivity.

IMF commends broader economic resilience

The Ministry of Finance also welcomed the IMF’s 2025 Article IV Consultation report, which underscores Saudi Arabia’s growing economic resilience in the face of global volatility. The IMF noted the country’s success in mitigating external shocks through strong domestic demand, low inflation, and a robust non-oil sector.

A Saudi Press Agency report said, that the report particularly praised Saudi Arabia’s fiscal transparency and risk analysis efforts, commending the move toward medium-term financial planning and the proactive setting of spending ceilings through 2030. It emphasised that the direct impact of global trade tensions on Saudi Arabia remains limited and that easing OPEC+ production cuts will further support economic stability.

Non-oil growth and Vision 2030 momentum

Non-oil economic activity continues to be a central pillar of Saudi Arabia’s economic expansion. In 2024, real non-oil GDP grew by 4.5 per cent, while non-oil private investment increased by 6.3 per cent year-on-year. The IMF projects real non-oil GDP growth of 3.4 per cent in 2025, driven by ongoing Vision 2030 projects, consumer demand, and strong credit growth.

The IMF report praised Saudi Arabia’s commitment to fiscal sustainability, including scenario planning to address potential economic shocks. It called the country’s prioritisation of high-impact projects a prudent approach to maintaining long-term economic stability.

As Vision 2030 moves closer to its critical phase, Saudi Arabia’s structural reforms appear to be gaining traction across key areas of employment, investment, and fiscal management. Both the HRSD and the Ministry of Finance view the IMF’s endorsement as validation of the Saudi’s ongoing transformation.