A fire near Dubai International Airport (DXB) caused temporary flight diversions and road closures, including Airport Road. Dubai Police confirmed traffic has returned to normal on Airport Road after earlier disruptions affecting key routes like Sheikh Mohammed Bin Zayed Road and Al Khawaneej. The fire is under control, with no reported injuries.
Traffic on Dubai’s Airport Road has returned to normal after earlier closures linked to a fire near Dubai International Airport (DXB) temporarily disrupted access to the area, according to an update from Dubai Police.
In a post on the social media platform X, Dubai Police confirmed that traffic had resumed following the earlier shutdown that affected vehicles coming from Sheikh Mohammed Bin Zayed Road and Al Khawaneej, as well as traffic from the Marrakech Street intersection heading toward Sheikh Mohammed Bin Zayed Road.
To facilitate emergency access and manage congestion, Dubai Police temporarily closed several key routes in the airport vicinity, including Airport Road and the Airport Tunnel. Motorists were advised to use alternative routes while traffic restrictions were in place.
Additional closures were implemented at Al Garhoud Bridge leading to Casablanca Street, as well as at the Cargo Village and Marrakech Street intersections toward the airport.
Dubai Civil Defence said its teams responded quickly to the incident and successfully contained the blaze.
Authorities have not reported any major injuries in connection with the incident, and operations in the area have since stabilised, with traffic gradually returning to normal around the airport corridor.
Dubai’s physical real estate market is showing resilience, with transaction volumes rebounding sharply the second week of March, even as listed property stocks continue to reprice risk
Despite regional tensions, Dubai's property market rebounded in March with transaction volumes up, driven mainly by off-plan sales and villa interest. However, the Dubai Financial Market (DFM) saw a significant equity sell-off, particularly in real estate stocks, indicating investors are pricing in higher risk. This highlights a divergence between market sentiment and real-world property activity.
Two weeks after the onset of regional conflict on February 28, a significant divergence has emerged between Dubai’s physical real estate market and its listed equities.
While property transaction volumes staged a sharp recovery in the second week of March, the Dubai Financial Market (DFM) continued to reprice risk, with real estate stocks extending their slide on heavy trading volumes.
Transactional liquidity defies initial shock
Following an initial “risk-off” pause, the physical property market demonstrated a notable bounce-back.
According to Dubai Land Department (DLD) records analysed by The Real Estate Reports, total transaction value on a headline basis, including land transactions, surged to Dhs15.66bn in the week of March 9–15. This represents a 51 per cent increase in value and a 58 per cent jump in transaction counts over the previous week.
However, a closer look at the data suggests this recovery was primarily volume-driven. When excluding land plots to remove the volatility of high-value land deals:
Built Value (Ex-land): Grew 13 per cent to Dhs8.26bn.
Transaction Volume: Rose 56 per cent to 4,327 deals.
The discrepancy between the modest value growth and the surge in volume indicates that while the market remains operational, the average ticket size has softened, a typical signal of a market functioning under a more cautious, broader-based participation.
Off-Plan Remains the Market Anchor
The structural integrity of the market appears to have held. Off-plan sales continued to command the “lion’s share” of activity, accounting for 63 per cent of built property value in Week 2, compared to 66 per cent in the week immediately following the conflict’s start.
The most visible shift within this segment was a rotation toward villas. Off-plan villa sales rose to approximately 23 per cent of the segment’s value (up from 16 per cent), while the ready market similarly saw increased interest in landed homes over commercial assets.
This suggests selective risk-taking by buyers who are prioritising tangible residential assets over more sensitive commercial segments.
The Equity Disconnect: DFM Extends Slide
The resilience in physical transactions stands in stark contrast to the Dubai Financial Market. Since trading resumed on March 4, aided by a temporary 5 per cent limit-down threshold to prevent panic — equities have undergone a sustained de-risking phase.
The DFM General Index (DFMGI) fell 5.7 per cent in the second week of March on a turnover of 1.52 billion shares, nearly double the volume of the prior week. The pain was most acute in the Real Estate Index (DFMREI), which slumped 13.8 per cent last week.
Sentiment vs. The Real Economy
The data highlights a widening gap between sentiment-driven equities and “real economy” property transactions. In the stock market, liquid shares are being sold as investors demand a higher risk premium for regional exposure. In the physical market, the normalisation of mortgage registrations, which nearly doubled to 1,053 in Week 2, suggests that the “plumbing” of the industry remains intact.
While the physical market shows signs of a recovery in activity, the heavy-volume sell-off on the DFM suggests that financial markets may be pricing in a more prolonged period of uncertainty.
For now, Dubai real estate is proving it can operate under pressure, even as its listed counterparts absorb the brunt of the geopolitical shock.
Free Fazaa cards trigger heavy demand as website queues stretch past 1.5 hours
Residents trying to apply for the UAE’s newly announced free Fazaa discount cards are encountering long virtual queues as demand surges across the country
Fazaa Programme's website is overwhelmed after the UAE announced free memberships for resident families for the Year of the Family 2026. Users face long virtual wait times to register. The surge reflects high demand for discounts, mirroring similar initiatives like The ENTERTAINER and free tickets at Atlantis Aquaventure and Miracle Garden.
UPDATE: After a period of downtime over the weekend, the Fazaa website has been back to normal this week. Read more by clicking here.
The website for the Fazaa Programme is experiencing extremely high traffic after the UAE announced free discount memberships for resident families as part of the Year of the Family 2026 initiative.
Visitors attempting to access the registration page on Sunday evening were placed into a virtual waiting line, with estimated wait times exceeding one hour and 30 minutes, according to a message displayed on the website.
“We are experiencing a high volume of traffic and using a virtual queue to limit the amount of users on the website at the same time,” the notice said.
“This will ensure you have the best possible online experience.”
The site also warns users not to close their browser, as the page will automatically refresh once it is their turn to access the platform.
The surge in demand comes after authorities announced that resident families across the UAE will be eligible to receive free Fazaa discount memberships, granting access to deals on travel, dining, shopping and entertainment across the country.
The membership will remain valid throughout 2026, which has been designated by the UAE as the Year of the Family.
Families can register through the official Fazaa website, where applicants must submit personal details and upload Emirates ID copies for all family members.
To qualify, applicants must have at least one child, according to the programme guidelines.
Successful applicants receive a confirmation email and can activate their digital Fazaa membership through the mobile application.
Strong consumer demand
The rush to apply reflects strong demand for discount platforms across the UAE.
Earlier this week, Dubai-based lifestyle platform The ENTERTAINER said its own community initiative saw 250,000 memberships claimed within four hours after launch.
Speaking to Gulf Business, founder and CEO Donna Benton said the campaign exceeded expectations.
“The campaign has been phenomenal and has gone above and beyond. Our aim was to encourage support for our world-class hospitality industry – and our wildest expectations have been surpassed,” Benton said.
Discounts have been offered by other attractions in Dubai in recent days, including the likes of Atlantis Aquaventure and Miracle Garden.
Understanding cloud infrastructure: Where does your financial data live?
The resilience, governance, and location of the infrastructure powering billions of daily transactions in the UAE are emerging as critical questions for banks, regulators, and technology providers
The UAE's financial sector, a key regional hub, faces growing concerns over infrastructure concentration in single cloud environments, creating operational risks. To enhance resilience and sovereignty, regulators urge diversification through hybrid and multi-cloud architectures. Huawei offers distributed computing solutions and secure network infrastructure designed for continuous operation, aligning with local regulations to support the UAE's digital economy goals.
Every financial transaction leaves a trail of data, and that data must exist somewhere. Where it resides, who governs it, and how resilient the infrastructure around it truly is have become some of the most consequential questions facing the UAE’s financial sector today.
The UAE processes billions of dirhams in financial transactions each day, while its banking sector acts as a capital gateway for businesses operating across the Middle East, Africa and South Asia. The Dubai International Financial Centre and Abu Dhabi Global Market together host thousands of regulated financial firms, creating one of the most active financial ecosystems anywhere in the world.
Over the past decade, cloud technology has transformed how this ecosystem operates. Banks introduced digital services at speed, expanded mobile banking platforms and modernised infrastructure that once relied entirely on internal systems. Many institutions moved quickly, concentrating a large share of their operational infrastructure within a single cloud environment because the model appeared efficient and straightforward. That convenience created a new structural exposure.
When a financial institution depends heavily on one provider for critical systems, the organisation effectively introduces a single operational dependency. If the provider experiences disruption through physical damage, a cyber incident or regulatory restrictions, the institution’s ability to serve its customers is affected immediately. In financial services, where trust is the foundation of every transaction, that exposure carries serious implications.
Sovereignty is a strategic priority
The question of digital control has therefore moved to the centre of financial infrastructure planning. Institutions and regulators increasingly recognise that economic resilience depends on infrastructure they can govern directly.
For the UAE, this issue carries national importance. The country’s Digital Economy Strategy aims for digital activity to contribute 19.4 per cent of GDP by 2031, with financial services forming a central pillar of that growth. Achieving that ambition requires infrastructure capable of remaining operational under difficult conditions, because resilience in financial systems means continuing to function through disruption rather than restoring services afterwards.
Why a second cloud pillar matters
The Central Bank of the UAE and the Dubai Financial Services Authority have strengthened guidance around cloud risk management and operational resilience, signalling concern about infrastructure concentration within a single provider. Financial institutions, therefore, face an important architectural decision.
Critical systems require a second infrastructure environment capable of supporting live operations. The environments must remain distinct, with separate infrastructure, locations and governance structures. Diversification reduces operational risk when the environments function independently.
Hybrid cloud architecture enables this structure. Sensitive financial data, including customer records, transaction histories and compliance archives, can remain within controlled environments governed directly by the institution, while cloud platforms support applications and digital services used by customers and employees.
Infrastructure designed for continuous operation
Huawei has focused its financial infrastructure portfolio on distributed computing environments that allow institutions to operate critical workloads across multiple infrastructure layers rather than depending on a single environment. Its banking infrastructure platform supports complex financial processing workloads across distributed systems, enabling institutions to maintain operational continuity even when infrastructure conditions change.
Network architecture also plays a critical role in connecting financial systems across multiple environments. As financial institutions across the UAE deepen their reliance on digital banking platforms, real-time payment systems and automated regulatory reporting, the resilience of the networks connecting these systems becomes as important as the computing infrastructure itself.
Technology providers are increasingly responding by developing infrastructure designed specifically for sectors where downtime carries financial and regulatory consequences. Companies such as Huawei, for example, have focused on building network, storage and cloud platforms intended for industries like banking, where systems must process high volumes of transactions while remaining continuously available.
Such infrastructure allows institutions to operate across distributed computing environments while maintaining stable connectivity, secure data storage and governance over critical financial information, supported by partner ecosystems that help translate global technology platforms into deployments aligned with local regulatory requirements.
For financial institutions in the UAE, this network provides access to expertise that aligns infrastructure deployments with regional regulatory and operational requirements. Jason Cao, CEO of Huawei Digital Finance BU, highlighted at MWC Barcelona 2026 that in today’s world of uncertainty, banks must build resilience across multiple dimensions, ensuring multi-active redundancy to prevent system failures, reinforcing multi-layer security against cyberattacks, and laying a solid foundation for global financial institutions to accelerate into the AI era.
Building the next phase of financial infrastructure
The UAE has spent years building one of the most advanced financial ecosystems in the region, supported by progressive regulation and strong technological ambition. The next phase of that development will depend on infrastructure capable of supporting continuous financial activity without introducing hidden dependencies.
Hybrid and multi-cloud architectures are therefore becoming essential components of financial infrastructure planning. For the UAE’s financial sector, the question is whether that infrastructure is resilient enough to carry the trust that the system now places on it.
How Petrochem is shaping the Middle East’s industrial future
From founder and chairman Yogesh Mehta to managing director Rohan Mehta and CEO Venu Nayar, the region’s biggest petrochemicals distributor sets out how a Dhs300m investment is just the start of the company’s next chapter
Petrochem's new Dhs300m Jebel Ali terminal signifies a transition from trading to asset-backed industrial operations. Founder Yogesh Mehta sees it as a culmination of his work, whilst his son, Rohan, views it as a platform for future growth. The investment reflects the UAE's shift towards manufacturing, capitalising on CEPA agreements and global supply chain disruptions.
Just days after Petrochem officially opened its new Dhs300m terminal in Jebel Ali, a ship carrying cargo worth around $20m (Dhs73m) quietly docked alongside the brand-new facility. There was no ceremony. No ribbon-cutting. Just a vessel easing into berth, product flowing into tanks, and business getting on with itself.
For Yogesh Mehta, founder and chairman of Petrochem Middle East — known to most simply as Yogi — the moment carried more weight than most.
“I’ve been watching ships come into Jebel Ali for over 30 years,” he tells Gulf Business. “But seeing one arrive here, at our own terminal, so soon after opening: that was a full-circle moment.”
That single docking neatly captured what Petrochem’s new terminal represents: not just a symbolic investment, but a fully operational piece of industrial infrastructure designed to work from day one — and for decades to come.
Petrochem’s journey mirrors Dubai’s own industrial rise.
When Mehta arrived in the early 1990s, Jebel Ali was still finding its footing as a regional logistics hub. Petrochem began as a modest chemical trading business, operating from rented offices and learning the trade alongside multinational producers already established in the free zone.
“I used to come here once a week from Al Rashidiya in Dubai,” Mehta recalls. “I would sit with regional directors from companies like Union Carbide, which later became part of Dow Chemical Company, and learn how the chemical business really works — how supply chains move, how value is created.”
Three decades on, Petrochem now shares a boundary wall with Dow Chemical Company at Jebel Ali. Its new terminal, the company’s largest to date, consolidates operations, logistics and corporate headquarters on a single, purpose-built site.
“To build a state-of-the-art terminal next to the company I once learned from is humbling,” Mehta says. “It’s a feeling of pride, but also responsibility.”
“For me, this is a full stop,” he adds. “For Rohan, it’s a comma.”
From founder-led growth to generational scale
If Yogesh Mehta represents Petrochem’s origin story, his son Rohan Mehta, managing director, represents its future — both father and son are Harvard Business School alumni.
“This isn’t just about adding capacity,” Rohan says. “It’s about building the platform for the next 30 years.”
More than a decade into the business, he sees the new terminal as the physical expression of Petrochem’s evolution from an entrepreneurial distributor into a fully asset-backed industrial operator.
“Our foundation is strong,” he says. “The challenge now is how we evolve without losing what made us successful.”
That evolution, Rohan argues, starts with people. Petrochem employs around 250 people globally, with roughly 150 based in Dubai, managing hundreds of container and truck movements every day across the Middle East, Africa and the Indian subcontinent.
“How do we attract talent? How do we give people confidence that this is a place to build a career?” he asks. “Owning infrastructure like this matters. It signals permanence.”
It also enables complexity. The new terminal introduces capabilities that remain rare in the region: stainless steel tanks for acids, temperature-controlled tanks for products such as styrene, and infrastructure that supports more sophisticated chemical handling and blending operations.
Beyond capacity, it also improves speed and control: reducing vessel turnaround times, tightening tank-to-ship connectivity and allowing customers shorter lead times and greater certainty of supply.
“This wasn’t built just for today’s volumes,” Rohan says. “It’s designed for future products, future customers and future markets.”
For him, the generational transition underway at Petrochem is less about handover and more about continuity.
“We’re not changing who we are,” he says. “We’re strengthening it.”
Why the timing matters
That long-term thinking sits at the heart of Petrochem’s Dhs300m investment, particularly at a time when much of the global chemical industry is navigating uncertainty. According to Venu Nayar, Petrochem’s chief executive officer, the timing is deliberate.
“The UAE is transitioning from a trading economy to a manufacturing base,” he says. “CEPA agreements, particularly with India, are accelerating that shift.”
From left to right: Yogesh Mehta, Venu Nayar and Rohan Mehta.
India, Nayar explains, is fundamentally a consumption-driven economy rather than a manufacturing powerhouse like China. With zero customs duties under CEPA and growing trade friction between India and China, manufacturers are increasingly using the UAE as a platform to serve regional markets.
“That increases demand for chemical raw materials,” he says. “By committing Dhs300m now, we’re positioning Petrochem ahead of the cycle, not reacting to it.”
The investment also reflects deeper structural shifts in the global economy. Since the Ukraine war, Europe has faced rising energy costs and declining competitiveness. At the same time, China’s industrial overcapacity, built on years of cheap credit, has pushed excess supply into global markets.
“The Middle East sits at a strategic intersection,” Nayar says. “Manufacturing is moving closer to consumption centres. Supply disruptions are becoming more common. Being close to the market matters more than ever.”
In that context, infrastructure ownership is less about risk-taking and more about risk mitigation. For Petrochem, owning strategic assets provides resilience in an increasingly fragmented global supply chain.
Recent years have reinforced that lesson. From the Suez Canal blockage to constraints at the Panama Canal, resilience increasingly depends on proximity, redundancy and physical control. Petrochem’s new terminal has been designed with that reality in mind.
One of the clearest signals of its strategic role is strategic storage. Kuwaiti petrochemical producer EQUATE has secured around 20,000 tonnes of capacity at the facility, using Jebel Ali as a buffer to serve Indian and regional markets.
“In the event of supply disruption, being two days away from customers makes a real difference,” Nayar says.
Asset-backed confidence in a volatile world
A defining feature of Petrochem’s strategy is its commitment to owning infrastructure rather than operating as a purely transactional trader.
“A trader moves paper from A to B,” Nayar explains. “A distributor invests for the long term.”
By building and owning terminals, while leasing land from DP World, Petrochem sends a clear signal to customers and suppliers that it is anchored in the region.
“When manufacturers see that level of investment, it builds confidence,” Nayar says. “It shows we’re here to stay.”
The terminal is evaluated over a five- to ten-year horizon, with returns driven by utilisation, operating leverage and long-term strategic optionality rather than short-term cycles.
That confidence matters. Petrochem supplies raw materials to almost every major paint and coatings manufacturer in the region. This is a scale that brings both opportunity and responsibility.
“We have significant market share,” Yogesh Mehta says. “That means we cannot afford to break trust.”
The company’s expansion also aligns closely with Dubai’s Economic Agenda D33, which aims to anchor high-value industrial activity and double the emirate’s economy over the next decade.
Looking ahead, Petrochem expects its core identity to remain intact: an emerging-market chemical distributor focused on high-growth regions. But the business is also exploring selective manufacturing partnerships, green and low-VOC chemicals, EV-related chemistries and new verticals such as personal care.
“Distribution will remain the foundation,” Nayar says. “But with more value added.”
For Yogesh Mehta, the quiet arrival of that $20m ship just days after inauguration remains the clearest proof point.
“It showed that everything we built here works,” he says. “And that we’re ready for what comes next.”
From left to right: Suresh Krishnan, Venu Nayar, Yogesh Mehta, Nazan Nobakht and Rohan Mehta
Read the full cover article in the March edition of Gulf Business below:
Free Fazaa cards for UAE families: How to apply for the discount membership
Initiative launched as part of the UAE’s Year of the Family 2026 will give resident households access to lifestyle discounts across travel, dining and entertainment
For the Year of the Family 2026, UAE resident families with children can access free Fazaa memberships. This initiative, in collaboration with the Ministry of Family, offers discounts on travel, dining, shopping, and entertainment. Families can register on the Fazaa website with Emirates ID copies. This aims to support families and boost community engagement.
UPDATE: After a period of downtime over the weekend, the Fazaa website has been back to normal this week. Read more by clicking here.
Resident families in the UAE will be able to access free Fazaa discount memberships as part of a new initiative launched during the Year of the Family 2026.
The programme, rolled out by Fazaa in collaboration with the Ministry of Family, will provide households across the country with access to a range of lifestyle benefits, including discounts on travel, dining, shopping and entertainment.
Authorities said the initiative aims to make it easier for families to spend time together while accessing everyday lifestyle offers across the UAE. The membership will remain valid throughout the Year of the Family 2026 and will expire at the end of the year.
The Fazaa Programme is a UAE government-backed benefits platform that offers exclusive deals across sectors including hospitality, retail, leisure and travel.
In a social media post announcing the initiative, organisers said the move was intended as a gesture of appreciation to families living in the country.
“This initiative is a message of gratitude and appreciation to every family that has chosen the UAE as its home, and a confirmation that your stability and happiness are the foundation of our strong and united community,” the statement said.
How families can register
Families can apply for the free membership through the official Fazaa website, where applicants are required to submit personal details and upload Emirates ID copies for all family members.
Applicants must have at least one child to qualify for the programme.
Once registration is completed, users will receive an email confirmation and can activate their digital membership through the Fazaa mobile application. A contact centre is also available to assist residents with activation issues.
Wider community initiatives
The announcement follows other recent community-focused initiatives aimed at supporting residents and local businesses.
Earlier this week, Dubai-based lifestyle platform The ENTERTAINER said it would distribute 100,000 free memberships across the UAE as part of a community campaign designed to support the hospitality sector.
Donna Benton, founder and CEO of the ENTERTAINER, said the response from residents across the UAE and wider GCC exceeded expectations.
Speaking to Gulf Business, Benton said: “The campaign has been phenomenal and has gone above and beyond. Our aim was to encourage support for our world-class hospitality industry – and our wildest expectations have been surpassed. 250,000 One Heart memberships were claimed in four hours, with over 20,000 offers being redeemed at participating venues across the UAE in just one day.”
The rapid uptake prompted the company to progressively increase the number of memberships available, first doubling the original allocation before ultimately scaling the initiative fivefold to meet demand across the region.
The initial tranche of 50,000 memberships was claimed in less than an hour, highlighting the scale of consumer interest.
Discounts have been offered by other attractions in Dubai in recent days, including the likes of Atlantis Aquaventure and Miracle Garden.
