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RAK has a new real estate investment summit

The summit features a carefully curated agenda, keynote addresses, investment talks, panel discussions, and immersive networking sessions

Gulf Business
Gulf Business

27 March, 2025

RAK has a new real estate investment summit

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Ras Al Khaimah (RAK) will take centre stage at a global real estate event this May when it hosts the inaugural International Real Estate Investment Summit (IREIS).

Set to take place on May 20 and 21, 2025, at the Al Hamra International Exhibition and Conference Centre, IREIS marks a significant milestone in the emirate’s ambitious journey to becoming a premier global investment destination.

What to look forward to at the summit

The summit features a carefully curated agenda, keynote addresses, investment talks, panel discussions, and immersive networking sessions.

Read-Latest pictures: See how RAK’s Wynn Al Marjan is shaping up

Industry heavyweights and policymakers will share insights on market trends, capital flows, and the impact of major projects shaping the region’s future, including the flagship $3.9bn Wynn Al Marjan Island resort, set for completion in 2027. The program explores what the introduction of an integrated resort means for RAK and the wider region, with economic insights from Macau, Singapore, and Las Vegas.

With 500 delegates and investors from the GCC and global markets, and 40 industry speakers, IREIS will provide unique access to networking opportunities and investment showcases.

Attendees can expect roundtable discussions on emerging market opportunities, how RAK is attracting global, deep dives into asset class trends, and insights into tech-driven real estate transformation with a special mini masterclass on the emergence of cryptocurrency in global real estate transactions.

RAK: One of UAE’s most promising real estate hotspots

The International Real Estate Investment Summit comes as RAK is emerging as one of the UAE’s most promising real estate hotspots, driven by government-backed initiatives, visionary developments, and a thriving tourism sector.

Branded residences linked to globally renowned hospitality names – including Nikki Beach, Nobu, Ritz-Carlton, and Waldorf Astoria – are further positioning RAK as a high-yield destination for investors seeking long-term returns.

“Ras Al Khaimah is undergoing an unprecedented evolution, with world-class projects reshaping the tourism and hospitality sectors,” Alison Grinnell, CEO of RAK Hospitality Holding, said.

The inaugural International Real Estate Investment Summit will be a key moment to showcase the vast potential of RAK’s real estate market to international investors.

Ras Al Khaimah’s strategic location: The advantages

RAK’s geographic location, less than an hour from Dubai, combined with its attainable property prices, strong return on investment, and investor-friendly regulations, is attracting a wave of local and international buyers.

According to Stirling Hospitality Advisors, a subsidiary of RAK Hospitality Holding, more than 14,000 new residential units are expected to enter the market between 2026 and 2029, with branded residences accounting for 5,600 of these.

“Marjan’s developments, including Al Marjan Island, are at the forefront of RAK’s growth story,” said Abdulla Al Abdouli, CEO of Marjan. With world-class infrastructure and a commitment to sustainable, high-value investment opportunities, RAK is poised to become the UAE’s next big real estate success story, Al Abdouli added.

Sustainability: A key theme at the event

Sustainability will be a key theme, with sessions dedicated to eco-tourism investments, smart city innovations, and the transition to net-zero developments.

Other notable panels will cover the rise of branded residences, data centre investments, blockchain’s impact on real estate transactions and Artificial Intelligence’s potential for the sector, with panellists including proptech strategist Lynnette Sacchetto.

A dedicated panel will scrutinise cultural identity in architecture, with a restoration case study on RAK’s Al Jazeera Al Hamra Heritage Village and panellists including Sandra Woodall, Design Principal at Tangram Gulf, and Christine Espenosa-Erlanda, Director of Godwin Austen Johnson (GAJ).

UAE real estate industry: A sustained boom

The UAE’s real estate industry is experiencing a sustained boom, driven by multiple factors that have solidified its position as a global investment hub.

Notably, in 2024, the total value of real estate transactions across the UAE reached Dhs893bn. Ras Al Khaimah’s economic blueprint emphasises infrastructure enhancement, economic diversification, and sustainable growth. Investor-friendly initiatives such as long-term residency visas, streamlined property ownership regulations, and the expansion of RAK International Airport further bolster its appeal.

“This surge is fuelled by strong investor confidence, government initiatives to foster a positive investment environment, and an influx of high-net-worth individuals attracted to the UAE’s stability and luxurious offerings. Furthermore, projected growth continues into 2025, supported by ongoing infrastructure developments and the launch of new, high-profile real estate projects. The IREIS Summit by Cityscape is the ideal B2B platform to showcase the best investments”, Alexander Heuff, Cityscape Group Director, noted.

Cityscape: The role it plays in the real estate ecosystem

Organised by Cityscape by Informa Markets, in collaboration with Marjan – the master-developer behind Al Marjan Island – and RAK Hospitality Holding, the leading hospitality group in Ras Al Khaimah, IREIS will bring together elite investors, government officials, and industry leaders.

Cityscape, established over 24 years ago, has been instrumental in launching iconic real estate projects such as the Burj Khalifa and Battersea Power Station.

As the premier real estate platform in the GCC and beyond, Cityscape connects key stakeholders across the real estate ecosystem, adding significant credibility and influence to this inaugural summit. With a focus on unlocking investment potential, the event will spotlight RAK’s rapidly growing real estate market and international markets, providing an exclusive platform for deal-making, networking, and market-shaping discussions.

For further information and to register for the summit, visit here.

5 reasons why Palm Jebel Ali is Dubai’s next big real estate opportunity

The Palm Jebel Ali project has been revived after years of quiet

Nilufer Najeeb
Nilufer Najeeb

27 March, 2025

5 reasons why Palm Jebel Ali is Dubai’s next big real estate opportunity
Image credit: Supplied

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Construction activity on Palm Jebel Ali is picking up dramatically as developers look to make it the next big luxury location.

This is according to real estate agency fäm Properties in a recent report.

The Palm Jebel Ali project has been revived after years of quiet. Construction began on the project back in 2002 and it was originally planned to be completed by mid-2008.
However, the Global Financial Crisis (GFC) stalled the project and it was subsequently relaunched last year.

The revival comes amid a buoyant property sector in Dubai, in which prices, especially in the residential segment, have been on a tear with the emirate experiencing a 36 per cent increase in sales volumes in 2024, according to data from fäm Properties.

Now, the Palm Jebel Ali, which is 50 percent larger than the Palm Jumeirah, is expected to be another bright spot in the market.

Firas Al Msaddi, CEO of fäm Properties, says the palm-shaped island is set to become the next major destination for luxury real estate, offering more spacious and affordable waterfront properties with lower initial costs and price per square foot.

He says there are five key reasons for this:

  • Palm Jebel Ali villa plots are often double the size of those on Palm Jumeirah – 21,000 sqft vs 10,500 sqft – giving buyers more space and exclusivity.
  • Average price per square foot for built villas are around Dhs3,000 compared to Dhs9,000 on Palm Jumeirah.
  • Prime waterfront plots on Palm Jebel Ali average Dhs2,500 per sqft, compared to Palm Jumeirah’s Dhs8,000 per sqft.
  • Entry prices are approximately 50 per cent lower than Palm Jumeirah for comparable ultra-luxury villas.
  • Palm Jebel Ali offers buyers 3 to 4-year payment plans: a key advantage over Palm Jumeirah where only resale transactions are available with full upfront payment.

Palm Jebel Ali growth potential

“This is the last opportunity to acquire six and seven-bedroom waterfront residences directly from the developer,” Al Msaddi said.

He went further to explain the strategic plans:“Once this phase is complete, these villas will be available only on the secondary market, where resale demand is expected to drive prices significantly higher”.

“Major announcements will further drive investor interest and demand, with an influx of global high-net-worth buyers intensifying competition,” said Al Msaddi.

Experts say this will increase demand for Palm Jebel Ali as it nears completion, driven by its lower entry prices.

Comparison of Dubai’s Palm Islands

The key difference between Palm Jebel Ali and Palm Jumeirah is their scale and stage of development.

Palm Jebel Ali boasts a land area of 147 million square feet and a 110 km coastline, which is double the size of Palm Jumeirah’s 61 million square feet and 78 km shoreline, according to the market analysis by Firas Al Msaddi.

Palm Jumeirah is a well-established and residential leisure hub, accommodating around 25,000 people in luxury homes which includes waterfront villas and apartments, comprehensive retail destinations, leisure attractions, and marinas, creating a vibrant lifestyle destination within Dubai.

Rendered image of the Palm Jumeirah. (Supplied)

Emirates Group to co-locate to world’s largest solar-powered data centre

Starting in mid-2026, the Emirates Group will begin relocating its data centre operations to Moro Hub, which will provide comprehensive services

Gulf Business
Gulf Business

27 March, 2025

Emirates Group to co-locate to world’s largest solar-powered data centre
Image: Getty Images/ For illustrative purposes

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The Emirates Group has entered into a strategic partnership with Moro Hub, a subsidiary of Digital DEWA, to provide co-location services at the Mohammad Bin Rashid Al Maktoum Solar Park.

Moro Hub is the world’s largest solar-powered data centre, a distinction certified by Guinness World Records.

Starting in mid-2026, the Emirates Group will begin relocating its data centre operations to Moro Hub, which will provide comprehensive services, including rack space, power, cooling, equipment supply, and other associated services.

With the move, the Emirates Group will transition to clean energy, requiring an annual supply of 3,000 megawatts to power its data centre.

Vision for sustainable digital innovation

Saeed Mohammed Al Tayer, MD and CEO of Dubai Electricity and Water Authority (DEWA), said: “ We are proud to strengthen the Group’s sustainability journey with this strategic move to the world’s largest green solar-powered data centre at the Mohammed Bin Rashid Al Maktoum Solar Park. This strategic alliance with the Emirates Group underscores Dubai’s dedication to accelerating digital transformation and reinforcing its global standing in sustainable aviation.”

He further added, “By joining forces with them, Moro Hub is set to drive sustainable economic growth and ensure a future powered by innovation and sustainability, thus cementing Dubai’s leadership on the world stage.”

Moro Hub Emirates Group
Image: Dubai Media Office

Emirates Group-Moro Hub: A key partnership

Michael Doersam, Emirates Group’s chief financial and group services officer, said, “By transitioning our digital operations to Moro Hub, we are building operational resilience, scalability, and, above all, reducing our environmental footprint. Adopting clean energy solutions underscores our commitment to a greener, tech-driven future.”

New update on Dubai’s variable parking tariff policy; see details

The Variable Parking Tariff Policy will take effect in Dubai starting April 4

Gulf Business
Gulf Business

27 March, 2025

New update on Dubai’s variable parking tariff policy; see details
Image: Supplied

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Parkin Company has shared an update on the upcoming ‘Variable Parking Tariff Policy’, which will take effect in Dubai starting April 4.

The policy, introduced by the Roads and Transport Authority (RTA), will implement peak and off-peak tariffs across both the public parking portfolio and approximately 35 per cent of developer spaces in Dubai.

The new tariff system will categorise parking into two types: Premium Parking and Standard Parking, based on the type of parking facility and whether the service is used during peak or off-peak hours.

Premium Parking facilities will be located in high-demand, densely populated areas, particularly those near public transport infrastructure.

These zones will be marked with dedicated signage, and tariff details will be displayed for the convenience of users.

Peak pricing will apply for six out of the 14 chargeable hours per day (8am–10am and 4pm–8pm), excluding Sundays and public holidays.

Tariffs during off-peak hours (10am–4pm and 8pm–10pm) will remain unchanged, with pricing in line with the existing tariff structure currently in place.

Increase in Premium Parking spaces

Following further discussions between Parkin and the RTA, it was confirmed that approximately 40 per cent of Parkin’s public parking portfolio will be designated as Premium Parking, up from the previously communicated 35 per cent.

The remainder of the public parking portfolio will be classified as Standard Parking.

As of year-end 2024, Parkin Company operated 3,200 parking spaces across six multi-storey car parks (MSCPs).

The tariff for MSCP parking will remain unchanged at Dhs5 per hour, chargeable 24 hours a day, 365 days a year.

However, customers parking for more than eight hours in any 24-hour period will be subject to a maximum fee of Dhs40.

Developer portfolio subject to new tariffs

At year-end 2024, Parkin’s private developer portfolio consisted of 19,200 parking spaces.

Approximately 35 per cent of these developer spaces will now be subject to the new tariff policy, a significant increase from the initial expectation of zero per cent.

The same tariff policy that applies to public parking will also apply to developer spaces starting April 4.

A detailed breakdown of tariffs for developer spaces can be found in the appendix provided by Parkin.

Special event parking tariff

To manage increased vehicle volumes during major events, a special tariff of Dhs25 per hour will be in effect from 8am to 10pm in the area surrounding the Dubai World Trade Centre (DWTC).

This tariff will apply to approximately 200 parking spaces during mega events

Additional information about the policy is available on Parkin’s website, mobile app and social media channels.

Eid holidays in UAE: Dubai airport set to welcome 3.6m guests

Daily traffic is expected to average 276,000 guests, with the sharpest rise projected in the first week of April

Gulf Business
Gulf Business

26 March, 2025

Eid holidays in UAE: Dubai airport set to welcome 3.6m guests
Image credit: WAM

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Dubai International (DXB) is set to welcome more than 3.6 million guests in total, expected to pass through its terminals during the Eid travel peak.

The peak is anticipated to last from 26 March to 7 April 2025, with the busiest day of the period forecast to be April 5, Saturday, when 309,000 guests are expected at the airport.

Read-Eid Al Fitr holiday in Dubai: Here’s what Emirates passengers need to know

Daily traffic is expected to average 276,000 guests, with the sharpest rise projected in the first week of April. Departures during Eid week are also anticipated to increase by 19% compared to the average weekly volumes over the past month. This scenario also reflects a significant seasonal uplift.

Reasons for the surge in passenger numbers

Strong demand is being witnessed in terms of visiting friends and relatives from countries such as India, Pakistan, and the United Kingdom, alongside a notable rise in leisure travel, including increased traffic to Sri Lanka, Turkey, and Italy.

Advice from Dubai Airports

Dubai Airports has urged guests to use the recently introduced DXB Express Maps, a smart wayfinding tool that provides real-time navigation across all terminals. By scanning a QR code displayed on any flight information screen, guests can locate their gate, browse the full range of dining and retail options, or find nearby facilities with ease.

Services provided by the airport

Dubai Airports also offers enhanced services for People of Determination (PoD) through clearly marked accessibility routes, discreet support for guests wearing the Sunflower Lanyard from trained staff wearing Sunflower pins, and a dedicated Assisted Travel Lounge in Terminal 2.

Dubai Airports is taking multiple steps to ensure seamless guest flows across all touch points throughout the holiday period, working in collaboration with airlines, service and commercial partners, and government authorities.

Astra Tech launches Botim AI, 150 million users to benefit from features

The AI currently supports chat-based interactions, with enhancements such as web search capabilities and action-based integration planned for future phases

Gulf Business
Gulf Business

26 March, 2025

Astra Tech launches Botim AI, 150 million users to benefit from features
Image: Supplied

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Astra Tech has integrated Botim AI into its Botim Ultra App, introducing advanced artificial intelligence capabilities to more than 150 million users worldwide.

Botim AI functions as a chat assistant, designed to enhance user interaction by providing free, seamless access to AI-powered features.

The assistant supports a range of functions, including productivity, education, research, and everyday problem-solving, directly within the Ultra App.

Botim: Setting standards for intelligent, seamless interactions

Dr Tariq Bin Hendi, board member and CEO of Astra Tech, described the launch as a major advancement in digital communication for the region.

“The launch of Botim AI marks a significant milestone in our journey to revolutionise digital communication in the MENA region. By integrating advanced AI capabilities, we are enhancing user experiences and setting new standards for intelligent, seamless interactions.

“This innovation underscores our commitment to leveraging cutting-edge technology to meet the evolving needs of our users while advancing our mission to deliver more inclusive solutions that empower individuals from all demographics and enable frictionless engagement with our solutions.”

Currently, Botim AI supports chat-based interactions, with plans to introduce web search capabilities and action-based integrations in future updates.

The company is also working toward executional AI, enabling users to complete tasks in their native language.

This aligns with growing demand for AI solutions that offer inclusive and accessible interactions.

How to access it

Botim AI is accessible from the app’s landing page, Explore, and Search sections.

Users can upgrade to the latest version of the Ultra App to access the new features, with options to securely save chat histories or delete past conversations for privacy.

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