Artificial intelligence (AI) could unlock more than $1tn in economic and sustainability value across the Middle East and North Africa by 2030, according to a World Economic Forum report developed with Bain & Company.

The estimate spans five areas, including up to $200bn in sustainable financing, $370bn in sustainable investment flows enabled by the public sector and $250bn in long-term asset losses avoided.

It also includes $90bn in increased energy-sector valuations through improved sustainability performance and $100bn in sustainable projects launched through cross-sector partnerships.

The projections cover different forms of potential value, including financing flows, valuation gains and avoided losses, rather than a direct contribution to regional GDP.

The report, Unlocking Value: AI for Resilient Growth in MENA, draws on case studies and prototypes developed with First Abu Dhabi Bank (FAB), Bahrain’s Ministry of Sustainable Development, ADNOC and Saudi Arabia’s Ministry of Economy and Planning.

The World Economic Forum said the work produced five AI prototypes addressing sustainable finance, climate hazards, sustainability performance, SME financing and cross-sector collaboration. Scaling such applications would require overcoming implementation constraints, fragmented efforts and institutional capacity gaps, it said.

“The opportunity for MENA is significant, and the value will come from execution,” said Wissam Yassine, partner and Middle East Sustainability practice leader at Bain.

“Across finance, energy and the public sector, we are seeing AI use cases that can deliver measurable economic and sustainability impact. Leaders should focus on the areas with the clearest value and move quickly from pilots to scale.”

A recent MENA Chief Sustainability Officers Network survey highlighted a gap between expectations and implementation. While 89 per cent of respondents said AI had high or very high potential to advance their organisations’ environmental, social and governance goals, between 40 and 55 per cent, depending on the use case, described adoption as being at the pilot stage or operating at scale.

The report identified barriers including weak decision-making processes, difficulty treating sustainability as a source of economic value and a tendency to apply AI to incremental improvements. Many organisations also struggled to quantify financial or sustainability returns.

In banking, FAB worked with the World Economic Forum and Bain to develop Sustainable Finance Market Pulse, an AI agent that scans thousands of market signals each week to identify potential sustainable finance opportunities.

The report estimated that the tool could generate a return on investment of approximately 50 to 135 times over five years for FAB. Regional deployment of Pulse and the broader Sustainability Intelligence Platform could unlock around $200bn in additional sustainable lending by 2030, it said.

In Bahrain, the partners developed SME SMART, an AI-powered sustainability readiness assessment for small and medium-sized enterprises. The report said the tool’s adoption and implementation of its recommendations could generate $17m in cumulative valuation gains for Bahraini SMEs through 2030.

Work with ADNOC examined tools to translate climate hazard data into insights across assets and value chains, and to assess sustainability disclosures against ESG rating frameworks.

In Saudi Arabia, the collaboration produced SUSTAIN, a platform designed to match verified organisations with partnership opportunities linked to national development priorities.

The report recommended that organisations assess their AI maturity, set clear objectives, prototype priority applications and quantify their impact before determining how widely to deploy them. It also called for stronger governance, public-private partnerships and investment in capabilities.

Gargash Prime and JINGDONG Property, the infrastructure investment and asset management arm of Chinese e-commerce company JD.com, have signed a memorandum of understanding (MoU) to develop a large-scale logistics facility in Dubai.

Under the agreement, the companies plan to establish a joint venture to develop a site spanning approximately 2.5 million square feet (250,000 square metres), which will serve as a regional distribution and fulfilment hub supporting supply chains across the UAE and wider Middle East.

The MoU was signed on October 13 on the sidelines of the Dubai Business Forum – China, organised by Dubai Chambers in Shenzhen, in the presence of Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers.

The partnership forms part of Gargash Prime’s strategy to expand its portfolio of large-scale real estate and logistics infrastructure assets through collaborations with international companies.

It also aligns with the Dubai Economic Agenda, D33, and the UAE’s wider ambitions to strengthen its position as a global trade and logistics hub.

Gargash Prime expands logistics infrastructure portfolio

Shehab Gargash, founder of Gargash Prime, said: “This joint venture with JINGDONG Property will help develop infrastructure that supports the UAE’s goal of further strengthening its position as a global logistics and trade hub. By bringing together our complementary capabilities and shared ambition, we aim to deliver infrastructure at scale that contributes to the next phase of the UAE’s economic growth.”

The planned facility is expected to combine Gargash Prime’s local real estate expertise with JINGDONG Property’s international experience in logistics infrastructure development and management.

Walid Hizaoui, chief strategy officer at Gargash Prime, said: “This facility gives us the scale and the right partner to establish a significant logistics footprint in the region. It demonstrates how we are translating Gargash Prime’s real estate ambitions into high-quality infrastructure that supports the growth of the UAE’s trade and logistics sector.”

JD.com subsidiary strengthens UAE presence

JINGDONG Property currently manages more than 300 infrastructure assets globally, covering over 28 million square metres of gross floor area, with assets under management exceeding $16bn.

The company specialises in developing and managing logistics parks, business parks and data centres, serving businesses across e-commerce, manufacturing, retail and third-party logistics.

Carl Chen, CEO of JINGDONG Property, said: “The partnership with Gargash Prime represents an important step in JINGDONG Property’s long-term development in the UAE. We look forward to supporting the UAE’s ambition to strengthen its position as a leading global logistics and trade hub. The new distribution and fulfilment facility will strengthen our regional capabilities while providing high-quality logistics infrastructure to local and international customers.”

Feng Guo, CEO of JD.com Middle East, said the collaboration would combine JINGDONG Property’s technology and logistics capabilities with local market expertise to develop more efficient and resilient supply chains across the region.

The agreement also highlights growing commercial cooperation between the UAE and China, with Dubai Chambers facilitating cross-border investment and business partnerships through its international engagement initiatives.

For Gargash Prime, the proposed joint venture represents another step in expanding its real estate and logistics portfolio, while supporting Dubai’s position as a regional distribution and fulfilment centre.

A Singapore-flagged container ship has sunk in the Strait of Hormuz after sustaining damage and catching fire, amid escalating attacks on commercial vessels passing through the strategically important waterway.

The vessel, identified as GFS Pride, was struck by an unidentified projectile on October 13, according to Singapore’s Maritime and Port Authority (MPA). All 21 crew members were safely evacuated, with no injuries reported, Reuters reported.

The ship, operated by UAE-based Global Feeder Shipping, had a capacity of 2,824 twenty-foot equivalent units (TEUs).

Iran’s Islamic Revolutionary Guard Corps (IRGC) Navy claimed on Wednesday, October 14, that a vessel carrying more than 2,500 containers had struck a naval mine while attempting to navigate what it described as an unauthorised and dangerous route through the strait.

According to a statement carried by Iranian state broadcaster IRIB, the vessel caught fire following the incident and subsequently sank as the blaze intensified.

However, the Iranian account has not been independently verified, and maritime security sources have reported that the GFS Pride was struck by an unidentified projectile. The actual number of containers aboard the vessel has also not been independently confirmed.

Second Singapore-flagged vessel damaged

The MPA also confirmed that another Singapore-registered container ship, GFS Giselle, sustained hull damage after being struck by an unidentified projectile on October 14.

According to global media reports. the vessel subsequently reached a safe anchorage under its own propulsion, with all 22 crew members reported safe.

Singapore’s maritime authority condemned the incidents, describing the continued attacks on commercial shipping as violations of international law.

The two vessels are part of the fleet of Global Feeder Shipping, a Dubai-based shipping company

Saudi Arabia’s military coalition fighting Yemen’s Houthi group said on Thursday, October 15, that its air defence forces had intercepted and destroyed a cruise missile over the Madinah region in western Saudi Arabia.

Major General Turki Al-Malki, spokesperson for the Coalition to Restore Legitimacy in Yemen, confirmed the interception in a statement published on social media platform X.

“Interception and destruction of a cruise missile in the Medina region,” Al-Malki said, according to reports carried by Saudi state media.

The coalition did not immediately identify the origin of the missile or its intended target. No details were provided regarding potential casualties or damage.

The incident comes amid an escalation in missile and drone attacks attributed to Yemen’s Houthi group, which has targeted airports, energy installations and other infrastructure across Saudi Arabia in recent days.

Umrah travel from the UAE is facing growing uncertainty following reported attacks on Saudi Arabia, with transport concerns beginning to influence booking decisions even as many pilgrims continue with their plans.

Travel agencies in Dubai have reported a decline in enquiries for Umrah packages, particularly among customers planning to travel during national holidays. While some pilgrims are postponing their journeys until the security situation becomes clearer, others are proceeding with their arrangements, favouring flight itineraries that avoid Riyadh.

The impact has been uneven across transport options. Airfares for Umrah travel have reportedly remained broadly stable, but cancellations affecting selected airline services and concerns about possible road closures have prompted travellers to examine their itineraries more closely.

The developments follow escalating hostilities involving Saudi Arabia and Yemen’s Iran-aligned Houthi movement, which has claimed responsibility for attacks targeting Saudi aviation infrastructure.

Read more-Multiple-entry Umrah visa: What pilgrims must do before each Saudi visit

King Khalid International Airport in Riyadh was reportedly targeted repeatedly in October 2026, with an attack on October 10 leading to a suspension of airport operations. Earlier strikes killed three Saudi citizens, including Saudia pilot Captain Hamoud Ali Alkalthami.

The attacks have also affected other locations, including King Fahd International Airport in Dammam, heightening concerns about aviation security and the potential consequences for regional travel.

Jeddah and Madinah remain preferred pilgrimage gateways

Despite the uncertainty, UAE residents continue to travel to Saudi Arabia for Umrah, with Jeddah and Madinah remaining central to their itineraries.

According to several Dubai-based travel agencies, many pilgrims are flying into Jeddah and arranging their return journeys from Madinah. This allows them to avoid routing their trips through Riyadh, which some travellers are steering clear of because of security concerns.

Airlines including flynas, flydubai, Saudia and Air Arabia continue to offer services relevant to UAE travellers. However, the availability of flights varies by route and travel date, making individual flight checks increasingly important.

The continued movement of pilgrims suggests that concerns have not brought Umrah travel to a standstill. Instead, travellers appear to be making more selective decisions about departure airports, routes and transportation methods.

Airline cancellations put the focus on individual bookings

Reported flight cancellations have added to the uncertainty, although disruptions differ between airlines and services.

Emirates cancellations reported for October 15 included EK801, EK803 and EK805 from Dubai to Jeddah, alongside EK802, EK804 and EK806 on the return route. These cancellations apply to the reported date and do not establish that the same services will be cancelled on later dates.

Etihad Airways has also listed cancellations on its Abu Dhabi–Jeddah route. Its published advisory identifies EY601 and EY602 as cancelled through October 18, while EY603 and EY604 are listed as cancelled through October 19. The advisory does not indicate that every Etihad flight to Jeddah has been suspended.

Air Arabia has reported cancellations affecting certain services from Sharjah to Riyadh, Abha, Dammam and Taif. Other flights to Jeddah have continued to appear on published schedules, although scheduled services are not guaranteed to operate.

For pilgrims, these developments underline the importance of checking flight status directly with airlines before departure and confirming return arrangements before committing to a revised itinerary.

Bus travellers weigh delays against convenience

Ground transportation presents a separate challenge for pilgrims travelling from the UAE. Concerns about possible road closures, delays and routes passing through Riyadh have made some passengers more cautious about choosing buses.

Certain itineraries include journeys through the Saudi capital, while some routes involve layovers of three to four hours. The prospect of extended travel times has encouraged some passengers to consider flying instead.

Bus services are nevertheless continuing to operate. On some routes, the number of available services has reportedly fallen by around half, reducing the options available to travellers who prefer road transport.

For other pilgrims, buses remain a practical alternative. Operators have reorganised and streamlined certain routes, making them convenient for passengers whose itineraries suit the available services.

The result is a mixed response rather than a wholesale shift away from buses. Travellers are balancing convenience and cost against concerns about delays, with decisions depending on their destinations and the routes offered by individual operators.

Softer enquiries signal pressure on package demand

The clearest reported effect on the Umrah market has been a slowdown in customer interest.

Dubai-based travel agencies have reported fewer enquiries for Umrah packages, with some prospective pilgrims choosing to wait for more clarity before making bookings. The decline has been particularly noticeable among customers who prefer to travel during national holidays.

For agencies, the change presents a commercial challenge. A reduction in enquiries can affect future bookings even if customers who have already paid for their trips continue to travel.

However, the available information does not point to widespread cancellations among confirmed passengers.

Travellers who have already arranged their flights and other travel requirements are generally proceeding with their journeys, and agencies have not reported significant cancellations for the current travel period.

The current situation differs from disruptions reported in February, when some flights were cancelled and affected passengers had to be transported back by road.