Sobha Realty, the UAE-based luxury property developer, said on Wednesday it has raised $750m through its first green sukuk, the largest ever by a real estate developer globally.
The five-year sukuk, maturing in 2030, was issued under the company’s $1.5bn trust certificate issuance programme.
It will be listed on the London Stock Exchange and Nasdaq Dubai, the company said.
Investor demand reached about $2.1bn, 2.8 times the issue size, allowing Sobha to tighten pricing by 50 basis points from initial price thoughts.
The sukuk was priced at a profit rate of 7.125 per cent per annum with an effective yield of 7.375 per cent.
Regional investors accounted for 56 per cent of allocations and international investors 44 per cent.
Proceeds will be used to finance or refinance projects under Sobha’s Green Financing Framework, which is aligned with the International Capital Market Association’s Green Bond Principles and the Loan Market Association’s Green Loan Principles. The framework received a second-party opinion from DNV.
“The resounding success of our inaugural green sukuk issuance is a powerful testament to the market’s recognition of Sobha Realty’s robust financial standing and our deep, unwavering commitment to sustainable development,” said Ravi Menon, chairman of Sobha Group.
Sobha green sukuk rating
The sukuk is expected to be rated Ba2 (Stable) by Moody’s and BB (Stable) by S&P, consistent with the corporate credit rating of the obligor, PNC Investments.
Dubai Islamic Bank, Emirates NBD Capital, J.P. Morgan, Mashreqbank and Standard Chartered acted as joint global coordinators. Abu Dhabi Commercial Bank, Abu Dhabi Islamic Bank, Ajman Bank, Arab Banking Corporation, Arqaam Capital, Deutsche Bank, First Abu Dhabi Bank, RAKBank, Sharjah Islamic Bank and Warba Bank were joint lead managers and bookrunners.
Deutsche Bank and Emirates NBD Capital were joint ESG structuring coordinators. Clifford Chance and Dentons acted as legal advisers and Grant Thornton was appointed auditor.
Permira and Blackstone are acquiring a $525m minority stake in Dubai-based classifieds firm Property Finder, according to a joint statement on Tuesday, in a sign of continued investor appetite in the emirate’s real estate market.
As part of the transaction, General Atlantic, an early backer of Property Finder since 2018, has partially exited but will remain a significant minority shareholder, the statement said.
The deal will give Property Finder access to the global expertise of all three private equity firms, Permira, Blackstone and General Atlantic, as it expands its platform and targets growth across the Middle East and North Africa real estate market, the companies said in the joint statement.
The companies did not disclose the valuation for the transaction, which is subject to customary regulatory approvals.
This marks Permira’s first investment in the Middle East, and comes just months after the firm opened an office in Dubai’s financial district.
Global private equity firms are increasingly establishing a presence in the Gulf region to be closer to sovereign wealth funds and capitalize on a growing pipeline of regional deals.
Dubai, the Gulf’s business and tourism hub, has experienced a post-pandemic property boom, fuelled by foreign investment and government-led residency reforms.
Residential real estate prices surged almost 70 per cent in the four years to December 2024, according to Knight Frank.
The rally, however, may be cooling. In a May report, Fitch Ratings forecast double-digit price declines in Dubai’s housing market in the second half of 2025 and into 2026.
Apple has once again reshaped the technology landscape in the UAE with the launch of its 2025 product lineup, featuring the next-generation iPhone 17 series, comprising the iPhone 17 Pro, iPhone 17, and the remarkably slim iPhone Air, alongside the innovative AirPods Pro 3 and the newest Apple Watch models.
This latest release reflects Apple’s ongoing commitment to merging stunning design with cutting-edge technology, specifically tailored to meet the evolving needs of UAE consumers who demand high performance, durability, and seamless integration in their devices.
The iPhone 17 series introduces powerful new processors, industry-leading camera systems with 48MP Fusion technology, and Ceramic Shield 2 protections that enhance durability while delivering Apple’s best displays yet. The AirPods Pro 3 provide advanced in-ear Active Noise Cancellation combined with new heart rate sensing capability, while the Apple Watch family delivers enhanced health insights, a larger and brighter display, as well as faster charging and extended battery life.
With pre-orders launching at 4:00pm local time on September 12, 2025, and official availability beginning September 19, customers across the UAE have the opportunity to experience these groundbreaking devices freshly crafted to redefine mobile innovation, audio excellence, and personal health tracking. This launch is not only a celebration of technological advancement but a reflection of Apple’s deep understanding of the UAE digital lifestyle, catering to users who blend productivity, creativity, and wellness with a premium design aesthetic.
iPhone 17 Series: A fusion of power, durability, and beauty
At the pinnacle is the iPhone 17 Pro, featuring the breakthrough A19 Pro chip designed for peak performance, whether running intensive applications or powering creative workflows. The device boasts Apple’s best display ever, protected by Ceramic Shield 2 on the front, which offers improved durability and scratch resistance. The 48MP Fusion rear camera system delivers stunning photographic detail, backed by advanced computational photography powered by the A19 Pro chip.
Apple has included a new Center Stage front camera that enhances video call experiences by automatically adjusting framing to keep users centered. Battery life has seen significant improvement, allowing users extended use without compromise.
Image credit: Reuters/Website
iPhone Air: The thinnest iPhone ever with pro-level power
The new iPhone Air combines the portability of the thinnest and lightest iPhone with professional-grade power inside, thanks to the A19 Pro chip. Featuring an advanced 48MP Fusion dual-camera system and Ceramic Shield 2 protection, the phone offers exceptional durability. The device also includes the new Center Stage front camera, making it ideal for selfie and video call enthusiasts who value both style and substance.
iPhone 17: Delightful durability and advanced features
The iPhone 17 introduces a sophisticated 48MP Dual Fusion camera system, along with a best-ever display supporting ProMotion refresh rates up to 120Hz and Ceramic Shield 2 protection. The enhanced Center Stage front camera further supports creative video calls. This device appeals to a broad audience seeking durability, beautiful design, and high-quality photography without the flagship price tag.
Image credit: AppleTrack/X
AirPods Pro 3: Superior sound meets wellness
The AirPods Pro 3 boast the world’s best in-ear Active Noise Cancellation, offering immersive sound experiences whether working out or relaxing. They introduce a new heart rate sensor that monitors fitness during workouts, combining audio excellence with wellness insights. Improved battery life allows up to 8 hours of listening per charge, and the design maintains comfort for long listening sessions.
Image credit: AppleTrack/X
Apple Watch family: Advanced metrics for health and adventure
The latest Apple Watch models elevate health tracking with new features such as sleep scoring and richer data presented through the updated Vitals app. The watches feature the largest and brightest screens to date, with Always-On functionality for convenient viewing. Fast charging technology delivers up to twice the previous charging speed, and multiday battery life supports active lifestyles.
Sport and adventure enthusiasts in the UAE benefit from enhanced 5G connectivity and dual-frequency GPS for accurate location tracking in diverse environments.
Pricing and availability in the UAE market
Apple’s official UAE website details the pricing for the new devices as follows:
Product
Starting price (Dhs)
Availability
iPhone 17 Pro
Dhs4,699
Pre-order from Sept 12; available Sept 19
iPhone Air
Dhs4,299
Pre-order from Sept 12; available Sept 19
iPhone 17
Dhs3,399
Pre-order from Sept 12; available Sept 19
AirPods Pro 3
Dhs949
Available Sept 19
Apple Watch Series 11
Dhs1,599
Available Sept 19
Apple Watch SE 3
Dhs999
Available Sept 19
Apple Watch Ultra 3
Dhs3,199
Available Sept 19
Apple also offers flexible monthly payment plans and trade-in programs to help customers upgrade with ease.
The 2025 Apple UAE product launch introduces a new era of innovation combining power, cutting-edge technology, and durability across the iPhone, AirPods, and Apple Watch lines. The iPhone 17 Pro leads the lineup with a powerful A19 Pro chip and advanced camera system, while the ultra-thin iPhone Air offers a sleek design paired with performance. The AirPods Pro 3 improve on audio technology with added fitness monitoring, and the new Apple Watch models provide deeper health insights and enhanced outdoor capability.
With official pricing and availability clearly detailed on the Apple UAE website, customers can confidently explore and experience these groundbreaking products beginning September 12 for pre-orders and September 19 for general availability, ensuring Apple maintains its leadership in the UAE’s premium technology market.
Apple launches slim iPhone 17 Air, new AirPods and watch in holiday refresh
The iPhone 17 Air, Apple’s thinnest model yet at 5.6 millimetres, starts at $999 and will be available from 19 September
An attendee inspects a new Apple iPhone Air displayed during an Apple special event at Apple headquarters on September 9, 2025. (Getty Images)
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Apple unveiled a new generation of the iPhone on Tuesday, including a sleek model dubbed iPhone 17 Air, along with several other devices, as it looks to drive upgrades and boost sales ahead of the holiday shopping season.
The Cupertino, California-based company kept device prices largely unchanged from last year but has dropped the 128GB storage option from its iPhone line-up.
iPhone Air
The iPhone 17 Air, Apple’s thinnest model yet at 5.6 millimetres, starts at $999 and will be available from 19 September. Positioned between the standard iPhone 17 and the Pro models, the Air introduces a new premium tier to the company’s product range.
It runs on the same A19 Pro processor as the iPhone 17 Pro, paired with Apple’s N1 networking chip and C1X modem. The model, which supports only eSIM, will be available in Space Black, Cloud White, Light Gold and Sky Blue.
Apple executives described the iPhone Air as offering “MacBook Pro levels of compute in an iPhone”.
Apple CEO Tim Cook holds up a new iPhone 17 Pro during an Apple special event at Apple headquarters on September 09, 2025 in Cupertino, California. Apple unveiled a new generation of iPhones and updated Apple Watches and AirPods during a special event at Apple headquarters. (Photo by Justin Sullivan/Getty Images)
iPhone 17
The iPhone 17 comes in five colours and features a larger 6.3-inch screen. It brings the ProMotion display, with a 120-hertz refresh rate, to a non-Pro iPhone for the first time.
Powered by the latest A19 processor built on 3-nanometre technology, the iPhone 17 is designed to handle more on-device AI tasks. The base configuration now starts at 256GB of storage.
The device also includes a new 48-megapixel rear camera and an upgraded front camera with a wider field of view. Its “Center Stage” feature uses AI to automatically adjust photo orientation.
iPhone 17 Pro
Apple launched the iPhone 17 Pro, starting at $1,099, with the Pro Max version offering up to 2 terabytes of storage for the first time.
The device features a new aluminium unibody, along with a plateau design on the back housing its camera system.
It is powered by the A19 Pro chip and uses a vapour chamber with de-ionised water, making it the first liquid-cooled iPhone designed to sustain performance under heavy workloads.
The Pro also adds a ceramic shield back, longer battery life and an upgraded camera system with a 48-megapixel sensor on all three rear lenses, plus an AI-powered “Center Stage” front camera.
AirPods Pro 3
The new AirPods Pro 3 offer stronger active noise cancellation than previous generations and introduce Apple Intelligence-powered live translation, which can be triggered with a gesture.
The earbuds feature a smaller design and come with new foam ear tips for improved fit and isolation. They also add heart-rate sensing during workouts via Apple’s smallest heart-rate sensor, giving users fitness data without the need for additional accessories.
Battery life is rated at up to eight hours on a single charge with noise cancellation enabled.
Apple has priced its latest wireless earbuds at $249, with sales beginning on 19 September.
Apple Watch
Apple unveiled its new smartwatch line-up, including the Series 11 priced at $399, the lower-cost SE 3 at $249, and the high-end Ultra 3 at $799.
The company showcased new health and safety features, including a hypertension alert on the Series 11 and satellite connectivity on the Ultra 3.
Apple said the hypertension detection feature has not yet received clearance from the US Food and Drug Administration.
The Apple iPhone Air during an event at Apple Park campus in Cupertino, California, US, on Tuesday, Sept. 9, 2025. Apple Inc. introduced its iPhone 17 lineup, adding an all-new skinnier Air design and improving the devices’ durability and camera technology. (Photographer: David Paul Morris/Bloomberg via Getty Images)
Qatari broadcaster Al Jazeera, citing a Hamas source, said the attack specifically targeted members of the group involved in ceasefire negotiations over Gaza.
Images showing the blasts in Doha. (Credit: Getty Images)
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Several explosions hit a residence in the northern suburbs of Qatar’s capital, Doha, on Tuesday, as Israel confirmed attempts to target senior Hamas officials using long-range munitions.
The Wall Street Journal reports that more than 10 Israeli jet fighters fired the missiles from outside of Qatar’s airspace. Israeli prime minister, Benjamin Netanyahu, confirmed the operation in comments on Tuesday.
According to Israeli army radio, the strike was aimed at Hamas leaders, including Khalil al-Hayya, the group’s Gaza chief. Qatari broadcaster Al Jazeera, citing a Hamas source, said the attack specifically targeted members of the group involved in ceasefire negotiations over Gaza.
Witnesses told Reuters they heard multiple blasts in the city.
Hamas political bureau member Suhail al-Hindi, in a televised interview with Al Jazeera TV, said the group’s top leadership had survived the attack on Doha. However, the son of Hamas’s exiled Gaza chief Khalil al-Hayya was killed in the attack, according to al-Hindi. The Wall Street Journal reports that five “lower-ranking members” of Hamas were among the group that died.
Qatar has been a key mediator in ongoing negotiations between Israel and Hamas, playing a central role in efforts to broker a ceasefire and secure the release of hostages.
The incident rippled through global markets. Oil prices extended gains following the news, with Brent crude rising 97 cents, or 1.5 per cent, to $66.99 a barrel by 13:21 GMT, after hitting a session high of $67.27.
US West Texas Intermediate crude climbed 92 cents, also 1.5 per cent, to $63.18 after reaching $63.52. The gains added to earlier upward momentum driven by a smaller-than-expected OPEC+ production increase, China’s continued stockpiling of oil, and concerns over potential new sanctions against Russia.
Dubai’s RTA, DET issue new regulation to strengthen tourist transport sector
The regulation was issued under Administrative Decision No 97 of 2025, which implements Executive Council Resolution No 107 of 2023 governing tourist transport activity in Dubai
Dubai’s Roads and Transport Authority (RTA), in collaboration with the Department of Economy and Tourism (DET), has issued a new executive regulation governing tourist transport activity in the emirate.
The regulation, enacted under Administrative Decision No 97 of 2025 pursuant to Executive Council Resolution No. 107 of 2023, sets out detailed rules for the sector.
Authorities said the initiative is aimed at establishing an integrated tourist transport system that reinforces Dubai’s position as a leading global destination.
Officials noted that the regulation seeks to enhance service quality, improve safety and comfort standards for tourists, and align operations with international best practices.
RTA said its entities are continuing to develop services that deliver effective solutions for the tourist transport sector, supporting Dubai’s wider economic and strategic objectives.
The new framework is expected to generate tangible benefits for companies and institutions operating in the industry.
RTA to now oversee issue, renewal of tourist transport permits
Under the system, RTA will be responsible for issuing and renewing permits for tourist transport establishments, registering and renewing tourist vehicles, and granting professional licences for tourist transport drivers.
Applications will be processed through RTA’s approved service channels and centres to ensure compliance with regulatory and supervisory requirements.
