One of Dubai’s largest off-plan property developers is betting on a revival of The World Islands, unveiling a residential project worth more than Dhs4bn on an offshore archipelago that has struggled to fulfil its original ambitions for more than two decades.

Samana Developers, which has launched 54 projects in Dubai and ranks among the emirate’s top 10 developers by registered sales volume, announced on Thursday plans to build 849 residences at The World Islands, including 840 branded apartments, seven floating villas and two tree villas.

The project, which has a gross development value exceeding Dhs4bn, marks the launch of Samana Collecta, a new premium property brand established by the company as it expands beyond its traditional residential portfolio into larger, lifestyle-focused destinations.

Speaking at the launch in Dubai, Samana CEO Imran Farooq said the development was intended to establish a permanent residential community on The World Islands, rather than another luxury destination catering primarily to tourists and occasional visitors.

“The opportunity now is to make island living work for everyday life — not only as somewhere to visit, but as somewhere people can genuinely call home,” Farooq said.

The company has acquired approximately six island plots at The World Islands, with plans for further developments beyond the initial project.

Farooq said the flagship development would have a contractual delivery period of four years from the start of construction, although Samana is targeting completion in approximately 39 months.

Residences are expected to start at below Dhs2m, with the development offering studios and one-, two-, three- and four-bedroom apartments, alongside the floating and tree villas.

The project will feature multiple beaches, a lagoon, swimming pools, a beach club, restaurants, spas, gyms, co-working facilities and retail outlets. Regular yacht shuttle services are planned to connect the island with mainland Dubai at 30-minute intervals.

Why develop on The World Islands now?

The announcement represents another significant chapter for one of Dubai’s most recognisable, but historically challenging, real estate ventures.

Originally launched by Nakheel in 2003, The World Islands comprise approximately 300 artificial islands arranged in the shape of a world map, several kilometres off Dubai’s coastline.

Much of the land reclamation was completed by early 2008, shortly before the global financial crisis triggered a severe downturn in Dubai’s property market and brought development activity across much of the archipelago to a standstill.

Progress subsequently resumed in stages, most notably through Kleindienst Group’s Heart of Europe development, which has introduced hotels, luxury residences and other hospitality facilities.

However, much of the wider archipelago has yet to fulfil the ambitions associated with its original launch.

Samana’s project represents a different proposition in terms of scale and target market, combining hundreds of residential units with the infrastructure and facilities required to support year-round occupation.

Farooq said the company had purchased its island plots in 2025, recognising that it would need to take responsibility for significant elements of the infrastructure required to make the development viable.

These include electricity, water, sewerage, waste management and marine transportation, with Samana effectively taking on master developer responsibilities for its islands.

The proposed starting price below Dhs2m also represents an attempt to reach buyers beyond the ultra-wealthy clientele traditionally associated with private-island property.

Farooq was bullish about the potential for capital appreciation, although he stressed that Samana did not guarantee investment returns.

“I think this has to become the most expensive real estate of Dubai,” he said, suggesting that island properties could eventually command a premium of 50 to 60 per cent over conventional Dubai homes.

Dubai property sales decline sharply

The investment comes at a challenging time for Dubai’s wider real estate market, with transaction volumes declining amid regional geopolitical uncertainty.

According to an analysis of Dubai Land Department (DLD) data by Argaam, the emirate recorded approximately 122,900 property sales worth Dhs378.6bn during the first nine months of 2026.

That represented a 21.8 per cent decline in the number of sales transactions and a 23.5 per cent fall in their value compared with the corresponding period last year.

September was particularly challenging, with approximately 11,430 sales worth Dhs29.7bn. Transaction volumes fell 43.8 per cent year-on-year, while their total value declined 45.6 per cent.

While the figures point to a slowdown in market activity, falling transaction volumes do not necessarily translate into equivalent declines in property prices.

Against this backdrop, Farooq acknowledged that Samana had experienced a drop in sales following the escalation of regional tensions earlier this year.

He said the company’s sales had fallen by 52 per cent during the disruption, but argued that the continued willingness of buyers to commit to property purchases demonstrated underlying confidence in Dubai.

Farooq also highlighted a significant shift in the profile of buyers supporting the market.

“There is a shift in Dubai,” he said, explaining that approximately 60 per cent of Samana’s business in 2024 came from residents already living in the emirate. By 2025, international buyers accounted for an estimated 65 to 70 per cent of sales.

That trend has since reversed.

Today, he said, close to 90 per cent of the company’s sales are coming from UAE-based residents, with overseas buyers accounting for approximately 10 to 12 per cent.

“When the strait opens up, the situation settles down, and tourists are back, we expect international to get activated also,” he said, referring to the disruption affecting regional shipping and travel.

Construction costs rise 11 per cent

Samana is also navigating higher construction costs, which Farooq said had risen by approximately 11 per cent because of supply-chain disruption and increased material prices.

While some developers had slowed construction activity in response to higher costs, Farooq said Samana was maintaining its delivery programme, viewing the additional expenditure as an investment in its reputation and long-term customer confidence.

“We don’t intend to pass any cost to our customer,” he said, explaining that the company would absorb the additional expenditure on existing projects.

“We are taking it as a goodwill cost and we are comfortable with it,” he added.

He said material availability was not the main problem, but rather the higher prices being charged, particularly for steel and other construction inputs.

Farooq expects some of the cost pressures to ease as regional shipping and supply chains normalise.

Despite the challenging conditions, he said customer instalment collections were running at approximately 97 per cent of their pre-February levels, which he cited as evidence of the company’s financial resilience.

Samana rules out immediate IPO or bond issuance

The developer is also not planning an immediate initial public offering or bond issuance, with Farooq arguing that current capital-market conditions make either option unattractive.

“We don’t feel that this is the time to hit the capital market,” he said.

Farooq argued that borrowing through the bond market could prove expensive, while an IPO could require a substantial discount to the company’s valuation because of the way international investors currently perceive regional risks.

He estimated that an IPO under current conditions could require a valuation discount of approximately 30 to 35 per cent, while bond financing could cost close to 10 per cent.

He put Samana’s debt-to-asset ratio at approximately 9 per cent and said the developer remained comfortable financing its expansion primarily through customer payments and existing cash flows.

“We are a debt shy company. We don’t like to over borrow,” he said.

The company would reconsider capital-market options once conditions improved, he added.

Despite the broader slowdown, Farooq remains confident about Dubai’s long-term property prospects, arguing that a recovery in international buyer demand could create another phase of growth once regional uncertainty eases.

The Consulate General of India in Jeddah has issued an advisory for Indian nationals travelling between India and Saudi Arabia, urging passengers, particularly Umrah pilgrims, to check flight updates and stay in touch with airlines and travel providers amid ongoing flight disruptions.

The consulate has also established a 24-hour control room to assist Indian nationals affected by cancellations, rescheduling and other travel-related difficulties.

Passengers urged to check flight status

The advisory asks travellers flying to and from Jeddah and Madinah to verify their flight status directly with their airlines before heading to the airport.

Passengers have also been advised to contact travel agents, tour operators and Umrah service providers for information on cancellations, revised schedules, alternative travel arrangements and accommodation where necessary.

Read more-Flights still operating, but Umrah enquiries dip: How Riyadh attacks are affecting pilgrim travel

The Consulate said it is in regular contact with airlines and local authorities to help affected Indian nationals. Updates on flight operations, cancellations and rescheduling will be shared through its official social media channels as information becomes available.

24/7 control room for assistance

Indian nationals requiring consular assistance can contact the consulate’s control room, which is operating around the clock.

The contact details are:

• Telephone: +966 12 2614093; +966 556122301
• WhatsApp: +966 536209704
• Email: [email protected]

The advisory urges Indian nationals to remain calm, monitor official updates and contact the Consulate if they encounter difficulties requiring consular support.

The notice, dated October 13, 2026, was issued from Jeddah as flight disruptions continued to affect travel between India and Saudi Arabia.

Sharjah Police, in cooperation with the UAE Ministry of Interior, have dismantled four international cybercrime networks, arrested 33 suspects from 12 nationalities and secured company assets valued at more than Dhs65bn.

The operation, codenamed End of the Battle, targeted organised networks involved in cyberattacks, cryptocurrency-related money laundering, digital wallet theft, online fraud, extortion and trafficking in stolen data, WAM reported.

Authorities said the operation helped protect more than 30 companies and institutions worldwide, while preventing potential economic repercussions for international digital asset markets.

The investigation also uncovered money laundering transactions totalling Dhs8.83bn, according to Sharjah Public Prosecution.

Dhs200m seized in cybercrime investigation

Lieutenant General Abdullah Mubarak bin Amer, Commander-in-Chief of Sharjah Police, announced the results during a media briefing at Sharjah Media City (Shams).

He said the operation resulted in the arrest of network leaders and members, including principal suspects brought back from abroad.

Authorities confiscated more than Dhs200m and subjected over 3,000 digital wallets to auditing and verification.

The investigation also led to the seizure of 17 luxury vehicles, 29 valuable watches, jewellery, a residential villa, two villas under construction and two residential plots of land.

Other items recovered included cold digital wallets, electronic devices, counterfeit currency, counterfeiting equipment and narcotic substances.

Bin Amer said: “What has been achieved in this case is the result of integrated institutional work, continues security efforts, and close cooperation and coordination with federal, local and international authorities. These efforts led to the dismantling of these networks and groups, the arrest of their members, and the thwarting of their plans. This confirms the efficiency of the United Arab Emirates’ national security system and its ability to handle various cases, regardless of their complexity or whether they extend beyond its geographical borders, and to keep pace with security challenges efficiently and competently.”

How the cybercrime networks operated

According to Sharjah Police, the criminal organisation operated through four interconnected networks, each responsible for a different aspect of its activities.

The first network specialised in cyberattacks and data theft, while the second handled money laundering through virtual assets.

The third network carried out social engineering attacks and digital wallet theft, while the fourth allegedly used physical violence, kidnapping and threats against victims and their families to obtain access to cryptocurrency wallets.

Authorities said artificial intelligence tools were also used to support phishing, online fraud and other criminal activities.

Major General Omar Ahmed Bu Al Zoud, Director-General of the General Department of Criminal Security and Ports, said the division of responsibilities allowed the organisation to operate across borders while concealing its leadership and financial activities.

Investigators also uncovered encrypted communication channels, including a concealed hub on a social media platform that used a security code changing every eight hours.

Dhs8.8bn traced through banks and digital wallets

Anwar Al Harmoudi, Attorney General of Sharjah, said investigations revealed that proceeds from fraud and hacking were transferred through bank accounts, digital wallets and international platforms before being converted into property and luxury assets.

The value of funds involved in the money laundering activities reached Dhs8,825,381,741.50.

Authorities examined more than 10,000 documents and reports, conducted 142 investigation sessions and issued 478 judicial orders.

The investigation also involved 103 electronic devices, 12 search warrants and 109 requests coordinated with the Financial Intelligence Unit.

Eight international cooperation requests and procedures were undertaken to trace financial transactions, identify suspects and locate assets.

International cooperation helps dismantle networks

Sharjah Police said the investigation involved coordination with federal, local and international security and judicial authorities.

Brigadier Dr. Khalifa Yousif Belhai, Director of the Criminal Investigation Directorate at Sharjah Police, said investigators identified links between the networks by tracing digital wallets, analysing electronic evidence and monitoring suspects’ activities.

The investigation also uncovered a suspected kidnapping plot targeting individuals holding multiple digital wallets. Police said the plot was disrupted before it could be carried out.

The operation highlights the increasing complexity of cross-border financial crime, particularly where stolen data, cryptocurrency transactions and conventional money laundering techniques are combined.

Sharjah Police said it would continue strengthening its capabilities to investigate cybercrime, trace illicit financial flows and protect individuals and businesses from organised criminal activity.

Abu Dhabi is entering the final 50-day countdown to its Formula 1 season finale, with ticket demand building and preparations advancing for a four-day programme of motor racing, concerts and entertainment across Yas Island.

The 2026 Formula 1 Etihad Airways Abu Dhabi Grand Prix will run from December 3-6 at Yas Marina Circuit, hosting the final round of the Formula One World Championship alongside the Yasalam entertainment festival.

Thursday marked 50 days until the opening track session, as organisers prepared for an expanded racing programme and an influx of visitors from the UAE and overseas, a WAM report said.

Read more: F1 confirms Abu Dhabi finale will go ahead as planned, with 99% of tickets sold

Saif Al Noaimi, CEO of Abu Dhabi-based entertainment, events and venue management company Ethara, said the event brings together international sport and entertainment while drawing attention to the capital as a destination for major events.

“The Abu Dhabi Grand Prix is the UAE’s flagship event, bringing together thousands of fans and showcasing Abu Dhabi as a leading destination for international sport and entertainment. With anticipation building, we look forward to welcoming fans to Yas Island for another memorable edition of the Abu Dhabi Grand Prix,” Al Noaimi said.

Expanded racing programme and new championship

The 2026 edition will feature 11 Formula 1 teams, up from 10 in 2025, while the Formula 2 Championship will also conclude in Abu Dhabi.

The programme will include the debut of AZM GT, a championship owned by Yas Marina Circuit, which will stage a non-championship Trophy Round as a support race.

The additional racing activity will run alongside the main Formula 1 event, adding another series to the weekend schedule as the circuit hosts the final races of the season.

Ticket demand points to a busy race week

Organisers say ticket sales are progressing at a pace similar to last year’s event, with the Main Grandstand, North Grandstand and several other categories already sold out.

Ethara Live, which is overseeing the event programme, said demand for the remaining tickets was increasing and the race weekend was expected to sell out.

The strongest demand has come from the UAE and the wider region, while international sales are gaining momentum ahead of December. Visitors from 106 countries are expected to travel to Abu Dhabi for the season finale.

The Yasalam festival, presented by etisalat, will add concerts and entertainment at venues across Yas Island. Organisers have announced 11 artists for this year’s programme, with further activity expected across the race weekend.

David Powell, Chief Portfolio & Strategy Officer at Ethara Live, said preparations were progressing, with the racing schedule confirmed and work continuing across the island’s venues.

“Preparations for the Abu Dhabi Grand Prix are progressing well, with the racing schedule now confirmed, 11 music acts announced and work advancing across Yas Island venues,” Powell said.

“From the action on track to the concerts, after-parties and fan experiences, we are bringing together an exciting programme and are on course to deliver an unforgettable week of world-class entertainment.”

Visitor spending underlines economic impact

The Grand Prix is also a significant source of business for Abu Dhabi, supporting suppliers, hospitality operators and other companies involved in delivering the event.

According to figures for the 2025 race, visitor spending reached AED 1.3 billion. Around 40,000 people were involved in event delivery, with UAE-based professionals accounting for 90% of accredited staff. A total of 230 local small and medium-sized enterprises were contracted as suppliers.

The figures highlight the event’s reach beyond the circuit, with visitor spending and procurement creating business opportunities across several sectors.

Al Noaimi said the economic contribution extended beyond ticket sales and attendance, pointing to the role of visitor spending in supporting local businesses and generating activity across the emirate.

“The success of the Abu Dhabi Grand Prix is measured by more than ticket sales and attendance. During the event, visitor spending supports local businesses and generates economic activity across the emirate,” he said.

He added that repeat visits, employment and investment opportunities could extend the event’s impact beyond race week.

The 2026 programme will begin during the UAE’s Union Day celebrations, placing the Grand Prix within a wider period of national events and adding to Abu Dhabi’s year-end sporting and cultural calendar.

“As we prepare for the 2026 edition, which begins during the UAE’s National Day celebrations, there is a particular sense of pride in what we achieve together with our partners, suppliers and government agencies, united by a shared ambition to showcase Abu Dhabi at its best,” Al Noaimi said.

Latest update: 16 October 2026, 9.34am UAE time

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Airlines operating between the UAE and Saudi Arabia continue to face widespread flight disruptions on Friday, October 16, with Riyadh’s King Khalid International Airport remaining closed and several carriers extending cancellations into next week.

The airport is currently scheduled to remain closed until 2100 GMT on Saturday, October 17, although Saudi authorities have not confirmed when normal operations will resume.

The disruption follows repeated missile and drone attacks by Yemen’s Houthi movement, with the Saudi-led coalition revealing on Thursday that Riyadh airport had been targeted 20 times this month, killing 17 people and injuring 333.

The continuing security concerns have also forced the postponement of the EU-GCC summit, which had been scheduled to take place in Riyadh on October 24.

According to the latest available aviation data from Cirium, 3,129 of 7,705 scheduled departures from Saudi airports between October 8 and 14 had been cancelled or marked as not operating, representing 40.61 per cent of services.

The figures were compiled as of 8pm Saudi time on October 13 and are not a final tally for the full reporting period.

On October 12, 632 of 1,048 scheduled departures were affected, followed by 556 of 1,058 on October 13.

The disruption has affected both domestic and international airlines, although selected flights to Saudi destinations outside Riyadh continue to appear on published schedules.

Here is the latest airline-by-airline update.

Emirates: Riyadh, Jeddah and Dammam flights affected

Emirates continues to face disruption across its Saudi Arabian network, with services between Dubai and Riyadh, Jeddah and Dammam among those affected.

Dubai-Riyadh flights EK815, EK817 and EK819, alongside return services EK816, EK818 and EK820, were among those listed as cancelled earlier in the week.

Selected Dubai-Jeddah services have also been affected, including flights EK801, EK803 and EK805.

Flight-tracking information for Friday, October 16, shows that EK803 from Dubai to Jeddah is listed as cancelled.

There has also been further disruption on the Dubai-Dammam route.

Flight EK821, which had appeared on published schedules earlier in the week, is now listed as cancelled for October 16 by both FlightStats and Flightradar24.

The change highlights how quickly individual flight statuses are shifting, with passengers advised to confirm their bookings directly with Emirates before travelling.

Not every previously cancelled flight necessarily remains suspended, and some services continue to appear on future schedules.

Etihad Airways: Riyadh and Dammam cancellations through October 18

Etihad Airways continues to suspend services between Abu Dhabi and several Saudi Arabian destinations.

According to the airline’s latest official travel advisory, the following cancellations remain in effect:

• Riyadh: All flights between Abu Dhabi and Riyadh are cancelled through Sunday, October 18.
• Dammam: All flights between Abu Dhabi and Dammam are cancelled through Sunday, October 18.
• Jeddah: EY601 from Abu Dhabi and EY602 from Jeddah are cancelled through October 18.
• Jeddah: EY603 from Abu Dhabi and EY604 from Jeddah are cancelled through Monday, October 19.

The airline said the situation remained dynamic and warned that further schedule changes were possible.

Affected passengers are advised to check their flight status and available rebooking options through Etihad’s official channels.

flydubai: Riyadh, Dammam and Abha suspensions continue

Dubai-based flydubai has extended cancellations affecting Riyadh, Dammam and Abha up to and including Monday, October 19.

The carrier confirmed the extended suspension in a statement reported by ARN News, citing the continuing regional disruption.

Affected services earlier in the week included Dubai-Riyadh flights FZ841, FZ847 and FZ855, along with their corresponding return services.

Other Saudi destinations, including NEOM, Al Jouf, Ha’il and Hofuf, have also appeared in flight cancellation listings during the disruption.

However, the airline has not suspended its entire Saudi Arabian network.

Selected services to Jeddah, Madinah, Tabuk and other destinations continue to appear on published schedules, although the status of individual flights remains subject to change.

flydubai said it was monitoring developments closely and would notify affected passengers of changes to their bookings.

Air Arabia: Sharjah services remain affected

Air Arabia continues to face disruption on several routes connecting Sharjah with Saudi Arabia.

During the week, cancellations have affected services to Riyadh, Abha, Dammam and Taif.

The affected flight numbers have included:

• Riyadh: G9151, G9154, G9152 and G9155.
• Abha: G9195 and G9196.
• Dammam: G9160 and G9161.
• Taif: G9187 and G9188.

These are flights affected during the week and should not all be treated as confirmed cancellations for Friday, October 16.

Some previously cancelled services, including flights to Riyadh and Dammam, are appearing on published schedules for October 16.

However, a scheduled status does not confirm that the aircraft will depart, particularly while the regional security situation remains uncertain.

Passengers should verify their individual flight numbers directly with Air Arabia before heading to the airport.

Qatar Airways: Riyadh and Dammam flights remain suspended

Qatar Airways has temporarily suspended services to and from Riyadh and Dammam because of the regional security situation.

The airline has not announced a confirmed resumption date for the affected routes.

Passengers booked on the services are advised to check for schedule changes and alternative travel arrangements directly with Qatar Airways.

International airlines: Latest Saudi flight suspensions

Several international carriers have also extended cancellations or postponed planned services to Saudi Arabia.

According to the latest published Reuters airline updates:

• Air France-KLM: Riyadh services suspended until the end of October.
• Air India: Flights to and from Riyadh, Dammam and Jeddah suspended until October 17.
• Akasa Air: Riyadh and Jeddah services suspended until October 17.
• IndiGo: Flights to and from Riyadh, Jeddah, Dammam and Madinah cancelled until October 17.
• Gulf Air: Bahrain-Riyadh flights cancelled through October 17.
• Lufthansa Group: Riyadh flights cancelled until October 16, with no subsequent extension confirmed in the latest available information.
• Malaysia Airlines: Jeddah and Madinah flights cancelled until October 17.
• Philippine Airlines: Riyadh services suspended until November 29.
• Cathay Pacific: Hong Kong-Riyadh and Hong Kong-Dubai route resumptions postponed through January 31, 2027.
• Delta Air Lines: Launch of its planned Atlanta-Riyadh service postponed until March 2027.

These dates reflect the latest announcements available at the time of this update and may be revised.

When will Riyadh airport reopen?

Saudi Arabia’s General Authority of Civil Aviation has extended the suspension of operations at King Khalid International Airport while authorities assess the safety and operational readiness of its facilities.

The current Notice to Airmen indicates that the airport will remain closed until 2100 GMT on Saturday, October 17, equivalent to midnight in Saudi Arabia at the start of Sunday, October 18.

However, the deadline is not a confirmed reopening time.

The security threat remains significant. On Thursday, Saudi-led coalition spokesperson Turki Al Maliki said the Houthi movement had carried out 20 attacks on Riyadh airport this month.

The coalition also reported that attacks on Abha airport had killed three people and injured 28.

The governing council of the International Civil Aviation Organization has condemned the recent attacks on Saudi civilian airports, aircraft and aviation infrastructure.

Meanwhile, the Gulf Cooperation Council cited continued Houthi threats and the extended suspension of operations at Riyadh airport when announcing the postponement of the EU-GCC summit.

The developments have heightened uncertainty over when the kingdom’s aviation network will return to normal.

Passengers travelling to Saudi Arabia are advised to check their airline’s official flight-status service before heading to the airport and confirm any connecting flights.

• *Flight information remains subject to change. A flight appearing as scheduled does not guarantee its operation, while a previous cancellation does not necessarily mean subsequent services on the same route remain suspended.