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Mystery surrounds Dubai’s record Dhs560m land deal as data shows multiple transactions

Sotheby’s International Realty says it brokered a landmark Dhs560m beachfront acquisition on Naïa Island, but Dubai Land Department records suggest the deal may have been structured through four separate land transactions

Gareth van Zyl
Gareth van Zyl

16 June, 2026

Mystery surrounds Dubai’s record Dhs560m land deal as data shows multiple transactions
One of the UAE's biggest land deals in years is said to have taken place on the still-to-be-completed Naïa Island project.

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It’s been billed as one of the UAE’s biggest land deals in years.

When Dubai Sotheby’s International Realty earlier this month announced a Dhs560m beachfront land acquisition on Naïa Island, the transaction quickly attracted attention across the UAE property sector with multiple media outlets republishing the press release.

The timing is notable. The deal comes amid heightened geopolitical uncertainty across the region, with recent tensions weighing on sentiment in parts of the property market. Also, the Naïa Island project is currently under development with completion expected in 2029.

A review of Dubai Land Department (DLD) records by Gulf Business suggests the headline-grabbing acquisition may have been structured through four separate land transactions completed on the same day, with a combined value and land area closely matching the figures disclosed by Sotheby’s.

The brokerage said it had completed what it described as the UAE’s largest land acquisition, involving a European buyer and a beachfront estate spanning more than 80,000 sq ft on Naïa Island.

According to the statement, the acquisition was valued at Dhs560m and represented a new benchmark for Dubai’s ultra-prime property market.

Naturally, a deal of this scale would be expected to appear in DLD records.

But a review of publicly available data by Gulf Business could not identify a single land transaction matching the reported Dhs560m value in 2026. The closest match, however, was a cluster of four transactions recorded in Um Suqaim First on June 5. Naïa Island falls within the wider Um Suqaim First district.

Together, the four transactions total Dhs568.02m and cover 9,098.5 square metres, equivalent to approximately 97,936 sq ft.

The figures align closely with the details disclosed by Sotheby’s. Not only does the combined value slightly exceed the reported Dhs560m acquisition price, but the total land area is “more than 80,000 sq ft” estate, as referenced in the announcement.

When contacted by Gulf Business to clarify the structure of the transaction, and whether the deal involved four plots of land, Sotheby’s declined to comment.

“As is standard practice with most of our super-prime transactions, we’re unable to disclose any details due to strict confidentiality,” a spokesperson said.

While Sotheby’s has neither confirmed nor denied whether the transactions are connected; the timing, location, aggregate value and combined land area closely mirror the details outlined in the release.

Another record deal?

Meanwhile, on Monday, Sotheby’s announced another land transaction worth Dhs167m involving a Middle Eastern buyer this month.

A review of DLD records by Gulf Business identified a land transaction in Um Suqaim First on June 11 this year valued at Dhs167.36m and covering 2,221.12 square metres, or approximately 23,908 sq ft, closely matching the details disclosed in the latest announcement.

The figures also appear to support another claim contained in the original Dhs560m announcement.

Sotheby’s referenced what it described as Dubai’s previous largest beachfront estate transaction, involving approximately 53,000 sq ft of land on Naïa Island earlier this year.

DLD records show a land transaction in Um Suqaim First valued at Dhs377m on April 23, 2026, covering approximately 4,913.3 square metres, or roughly 52,900 sq ft.

If the four June transactions were acquired by the same purchaser and assembled into a single estate, the combined landholding would be around 85 per cent larger by area and 51 per cent larger by value than the April transaction.

Value is in the eye of the beholder

Ali Shahin, founder of The Real Estate Report, an independent platform that analyses data from the UAE property sector, said the significance of the transaction depends less on how it was structured and more on the outcome.

“If these plots were acquired by a single buyer, it would place the transaction among the most substantial private residential land acquisitions recorded in Dubai this year,” Shahin said.

“More importantly, it would reinforce the depth of demand at the very top end of the market, where buyers are not only purchasing completed luxury homes but also securing rare land positions with the intention of creating bespoke trophy estates.”

According to Shahin, whether the acquisition was completed through one transaction or several adjacent plot purchases may be largely irrelevant from a market perspective.

“The key question is whether the buyer has effectively assembled a single beachfront estate,” he said.

“If the end result is one consolidated waterfront estate under one buyer, the transaction should be viewed in terms of its combined value, scale and strategic intent.”

For now, the structure of the deal remains unclear — but the message from the market appears unmistakable: demand for Dubai’s rarest waterfront assets seems to still be strong, despite recent challenges.

Your password is the vulnerability attackers are looking for

As geopolitical tensions increasingly spill into cyberspace, the most dangerous attacks are often launched not with sophisticated malware, but through stolen credentials

Janne Hirvimies
Janne Hirvimies

16 June, 2026

Your password is the vulnerability attackers are looking for

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Geopolitical conflict and cyber warfare have become inseparable. When tensions rise between nations, the digital offensive begins quietly, often weeks before any physical escalation, targeting the institutions that hold economies and governments together. Critical infrastructure, financial systems, public services, and the private sector all become battlegrounds.

What is less often acknowledged is that most of these attacks do not begin with sophisticated exploits. They begin with a stolen identity.

Identity as the primary entry point

The threat environment has shifted structurally, not just in scale. State-aligned actors, criminal groups, and hacktivists increasingly share infrastructure, techniques, and even access, operating in a landscape that is high in volume, difficult to anticipate, and faster than most organizations can respond to.

What cuts across all of them is the entry point. Stolen credentials remain attackers’ preferred method, even as billions have been spent on stronger digital infrastructure. Roughly four in five breaches today are identity-driven, and credential abuse has become the single biggest growth vector across attack types, rising more than 70% year-over-year. Far from opportunistic; this is deliberate. The majority of identity-related incidents trace back to phishing and the use of stolen credentials, which often overlap as one feeds the other. Credential harvesting campaigns are established well in advance of any escalation, ready to activate when conditions shift.

Attackers love your password more than you do

A valid username and password is enough for an attacker to open the door from the inside. Traditional intrusion detection does not flag a successful login. Once inside, an attacker can move laterally, elevate privileges, and either collect intelligence quietly over extended periods or position for disruption. In confirmed incidents, access has been maintained for months before escalation.

The method is consistent across every type of attacker. Large-scale phishing campaigns target employees using lures designed to appear as internal communications, leading to credential harvesting pages indistinguishable from legitimate portals.

AI has removed whatever skill barrier previously existed. Campaigns that once required experienced social engineers now take seconds to generate, with voice cloning and language quality that eliminates the signals users have been trained to look for. More than 3.4 billion phishing messages are sent globally every day, and more than 75% of cyber breaches originate from phishing or fraudulent messages. Human-level defense alone cannot keep pace.

Why MFA is necessary but not sufficient

Multi-factor authentication improves resilience, but it does not remove the underlying exposure.

Adversary-in-the-middle frameworks now proxy authentication in real time, presenting a legitimate login page to the victim while relaying credentials and session tokens to the attacker. The victim completes a genuine MFA challenge. The attacker receives an authenticated session. If MFA can be bypassed at the protocol level without triggering detection, then adding layers to a credential-based architecture does not solve the problem.

Rethinking identity architecture

The problem is structural: passwords are vulnerable. They can be captured in transit, harvested through phishing, cracked offline, or purchased from prior breach datasets. Centralizing them in vaults does not solve this — it concentrates the attack surface, turning a single breach into exposure across every account. Organizations that continue to manage risk at the credential level are managing the symptom, not the cause.

The architectural shift that removes this exposure is the elimination of stored credentials entirely. In a passwordless model, credentials are derived cryptographically at the moment of authentication rather than retrieved from storage so there is no shared secret to intercept, and nothing persists between sessions. Phishing-resistant standards such as FIDO2 and passkeys extend this further by binding authentication to a specific device and origin through cryptographic key pairs. A phishing attempt cannot redirect or replay the authentication because the key pair is tied to the legitimate domain. The attack vector is removed at the architectural level, not mitigated at the behavioral level.

The next step for security is to go further: to architect systems where the credential no longer exists as a target.

The attack is already in progress

The campaigns are active, the techniques are documented, and the infrastructure is in place. The window between the start of a credential harvesting operation and an attacker establishing a persistent foothold is measured in hours, not days.

Continued reliance on credential-based architectures is no longer simply a technical legacy issue, but an active risk decision. The organizations that remain resilient will be those that move beyond credential dependence altogether, rethinking identity not as an authentication mechanism to be better protected, but as a core strategic control to be rearchitected. That work cannot wait for the next incident to make the case.

  • Janne Hirvimies is the chief technology officer for QuantumGate.
Janne Hirvimies, Chief Technology Officer – QuantumGate.

Eight killed after US Air Force B-52 crashes in California

The incident marks the first B-52 crash since 2016

Rajiv Pillai
Rajiv Pillai

16 June, 2026

Eight killed after US Air Force B-52 crashes in California
Image: Getty Images

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Eight people were killed after a US Air Force B-52 Stratofortress bomber crashed shortly after take-off from Edwards Air Force Base in California during a routine test mission, military officials confirmed.

The aircraft went down at approximately 11:20 a.m. local time on June 15, v into flames near the runway at the Mojave Desert base. Air Force officials said the crash was deemed “unsurvivable,” with all eight people on board believed to have died, Reuters reported.

According to officials, the crew included a mix of military personnel, government civilians and contractors. Boeing confirmed that two of its employees were among those killed. The aircraft was reportedly supporting a radar modernisation programme at the time of the accident.

The cause of the crash remains under investigation. Edwards Air Force Base temporarily suspended flight operations following the incident, while emergency responders secured the crash site.

The B-52 Stratofortress, a long-range strategic bomber capable of carrying both conventional and nuclear weapons, remains a cornerstone of the US Air Force’s bomber fleet despite first entering service in the 1950s. The aircraft involved in the crash was one of a small number of B-52s used for testing and evaluation missions.

The incident marks the first B-52 crash since 2016 and is likely to draw renewed scrutiny over the operation and modernisation of ageing military aircraft.

New boost for entrepreneurs in UAE: du brings digital-first connectivity to ‘SME in a Box’

Through its du Business portfolio, du will provide customised connectivity solutions to startups, freelancers, entrepreneurs and small and medium-sized enterprises

Nida Sohail
Nida Sohail

16 June, 2026

New boost for entrepreneurs in UAE: du brings digital-first connectivity to ‘SME in a Box’

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du, the UAE’s leading telecom and digital services provider, has joined ‘SME in a Box’ as its official telecommunications partner, strengthening support for the country’s growing entrepreneurial ecosystem through tailored connectivity and digital solutions.

The flagship initiative, led by the Department of Economy and Tourism (DET) and Dubai SME, brings together more than 17 partners spanning banking, e-commerce, payments and other key business services. The programme is designed to simplify the process of launching and scaling businesses across Dubai and the wider UAE.

Read more-Dhs80,000 in savings? Dubai rolls out new SME launch platform

Through its du Business portfolio, du will provide customised connectivity solutions to startups, freelancers, entrepreneurs and small and medium-sized enterprises (SMEs) that hold a valid trade licence issued by DET or Dubai SME. The offering is aimed at helping businesses establish a strong digital presence while accelerating their growth journeys.

Tailored Connectivity and Digital Services

As the initiative’s telco services partner, du will offer a range of Business Mobile Plans featuring exclusive benefits for ‘SME in a Box’ customers. The company will also provide flexible fixed connectivity solutions designed to help businesses adopt digital tools quickly and cost-effectively.

Participating businesses will receive a premium 5G-enabled router offering high-speed connectivity and unlimited internet usage. The package also includes access to key business services such as Microsoft 365, a .ae domain and enhanced security features, enabling companies to build and manage their digital operations more efficiently.

Commenting on the partnership, Karim Benkirane, Chief Commercial Officer at du, said: “‘SME in a Box’ is a forward-thinking initiative that helps businesses in the UAE scale faster and smarter. As the telco services partner, du ensures seamless connectivity for entrepreneurs and SMEs aiming to establish and grow their presence in Dubai. Our offers are designed to give businesses an immediate digital advantage, with the flexibility to diversify as their needs evolve.”

Supporting Dubai’s D33 Vision

The partnership underscores du’s customer-centric strategy and commitment to supporting SMEs through streamlined onboarding, scalable services and flexible digital solutions.

By providing access to affordable infrastructure, operational tools and a broad partner ecosystem, du aims to help businesses establish a strong digital foundation from day one.

Meanwhile, ‘SME in a Box’ continues to bring together pre-vetted service providers to reduce the complexity, time, cost and friction associated with setting up and operating a business in Dubai. The initiative aligns with Dubai’s D33 economic agenda by lowering barriers to entrepreneurship, reducing the cost of doing business, accelerating scalability and reinforcing the emirate’s position as a global hub for business, investment and innovation.

Strait of Hormuz transit will take ‘weeks’ to resume, says major tanker operator

Shipowners are unlikely to resume normal transit through the Strait of Hormuz for several weeks, with Japan’s Mitsui O.S.K. Lines saying confidence will only return once the US-Iran agreement delivers tangible improvements in security on the ground

Reuters
Reuters

16 June, 2026

Strait of Hormuz transit will take ‘weeks’ to resume, says major tanker operator

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Shipowners will not resume transit through the Strait of Hormuz for weeks until they are confident that the US-Iran deal is “material”, the chief executive of Japan’s Mitsui O.S.K. Lines told the Financial Times in an interview published on Tuesday.

The Iran war that began on February 28 with US-Israeli strikes largely stopped shipping through the transit route for around a fifth of the world’s oil and liquefied natural gas supply, along with products such as aluminium and urea.

Mitsui O.S.K., one of Japan’s big three shipping firms has a fleet of more than 900 vessels, including bulk carriers, tankers and ferries.

“What will have to come in place is not just a simple agreement between the relevant countries, but it has to be material and translated into the real situations in the Strait of Hormuz, so that shipping lines can make themselves comfortable to go through,” Mitsui O.S.K.’s Jotaro Tamura told FT before U.S President Donald Trump announced a deal to end the war in Iran.

“Given the experiences in the last couple of months, I think it’s reasonable to assume that it may take at least a couple of weeks or if not a month,” Tamura told the paper.

The agreement between Washington and Tehran being finalised had not changed Tamura’s view, the FT report said.

President Donald Trump said in a Truth Social post that ships loaded with oil are starting to move out of the strait, “going along the Southern ‘Highway,’ which is totally safe, secure, and pristine”.

31 new pedestrian crossings approved across Dubai: Where are they coming up?

The selected locations were identified following detailed technical and field studies that assessed population density

Nida Sohail
Nida Sohail

16 June, 2026

31 new pedestrian crossings approved across Dubai: Where are they coming up?

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Dubai’s Roads and Transport Authority (RTA) has approved an ambitious five-year plan to construct 31 new pedestrian bridges and tunnels across strategic locations in the emirate between 2026 and 2030, reinforcing the city’s commitment to safer, more sustainable mobility.

The new infrastructure programme forms part of Dubai’s broader efforts to improve pedestrian accessibility, strengthen connections to public transport, and support the growing use of cycling and other soft mobility options. The selected locations were identified following detailed technical and field studies that assessed population density, land-use integration, proximity to economic and tourism hubs, and connectivity with public transport stations.

The initiative is expected to improve traffic flow, enhance pedestrian safety, and provide safer crossings for pedestrians and cyclists throughout the city.

According to the RTA, the upcoming projects will be delivered across several key corridors, including Sheikh Zayed Road, King Salman bin Abdulaziz Al Saud Street, Al Ittihad Road, and Omar bin Al Khattab Street.

Supporting Dubai’s vision for safer and sustainable transport

Mattar Al Tayer, director-general, chairman of the Board of Executive Directors of the Roads and Transport Authority, said the continued expansion of pedestrian infrastructure aligns with Dubai’s long-term vision of creating a safer and more accessible transport network for all road users.

He noted that the programme reflects the leadership’s commitment to enhancing traffic safety while promoting sustainable mobility solutions that contribute to residents’ quality of life and overall wellbeing.

Al Tayer said, “The continued expansion of pedestrian bridge infrastructure reflects the directives of the wise leadership to enhance traffic safety, provide a safe and sustainable mobility environment for all road users, and make Dubai a pedestrian and cyclist-friendly city.”

He added that the initiative also supports Dubai’s broader quality-of-life agenda while contributing to the happiness and wellbeing of residents and visitors alike, according to a WAM report.

Network expansion delivers significant safety improvements

The latest announcement highlights the rapid growth of Dubai’s pedestrian infrastructure over the past two decades.

According to Al Tayer, the number of pedestrian bridges and tunnels across Dubai has increased from just 26 in 2006 to 178 by the end of 2025, representing growth of 585 per cent.

The additional 31 pedestrian bridges and tunnels planned by 2030 are expected to further strengthen the city’s integrated mobility network and support increasing demand for safe pedestrian movement.

Al Tayer said, “Existing and planned pedestrian bridges form an integrated pathway network linking residential communities across Dubai with key destinations and encouraging residents to use sustainable soft mobility modes for first and last-mile journeys.”

The infrastructure has also contributed significantly to improved road safety outcomes across the emirate.

“Pedestrian bridges and tunnels have played a significant role in enhancing traffic safety, with the pedestrian fatality rate falling from 9.5 deaths per 100,000 population in 2007 to 0.22 deaths in 2025, a decline of 98%,” he said.

Rising demand for walking and cycling

Beyond safety improvements, Dubai has recorded notable increases in the use of pedestrian and cycling infrastructure.

Al Tayer pointed to strong growth across several key mobility indicators in recent years.

“They have also contributed to measurable gains across key indicators, with residents’ satisfaction with Dubai’s pedestrian infrastructure reaching 88 per cent, pedestrian trips increasing from 307 million in 2023 to 326 million in 2025, a rise of 6 per cent, and cycling trips increasing from 46.6 million in 2024 to 57.3 million in 2025, a rise of 23 per cent,” he said.

The figures underscore Dubai’s growing focus on active mobility and sustainable transport options as part of its wider urban development strategy.

Three new bridges recently completed

The RTA has already completed three major pedestrian and cycling bridges as part of its ongoing investment in mobility infrastructure.

Two of the newly completed structures are located on Sheikh Zayed Road and Al Khail Road, providing important links for pedestrian, cycling, and e-scooter users across Al Sufouh and Dubai Hills, while extending connectivity through Dubai Internet City, Barsha Heights, and Al Barsha 3.

Both bridges feature distinctive architectural designs inspired by their surrounding environments.

The Sheikh Zayed Road bridge incorporates themes of interconnection and continuity through a series of interwoven lines. Its open structural design also offers users panoramic views of nearby towers and Dubai’s skyline.

Meanwhile, the Al Khail Road bridge draws inspiration from the light patterns created by the sun’s rays, creating a smooth and visually appealing pathway designed to provide pedestrians and cyclists with a quieter, more comfortable experience away from traffic noise.

The Sheikh Zayed Road bridge spans 528 metres, while the Al Khail Road bridge extends 501 metres. Both structures are five metres wide and include a dedicated three-metre lane for bicycles and e-scooters alongside a two-metre pedestrian walkway.

The third completed bridge is located on Al Manara Street within the Al Quoz Creative Zone. Designed to facilitate pedestrian and cyclist movement within the district and to nearby attractions, the bridge incorporates visual elements that complement the creative zone’s identity.

The structure measures 45 metres in length and 5.5 metres in width, with a six-metre clearance above road level. It also includes two access ramps extending 210 metres on either side.

Major projects under construction

The RTA is currently developing three additional pedestrian bridges, including two that rank among the largest pedestrian and cycling bridges in Dubai.

The first is being constructed on Sheikh Mohammed bin Zayed Road at the Tunis Street–Al Nahda intersection. The project will connect Muhaisnah 1 with Al Twar and extend towards Al Mamzar Beach, creating an important link for residents and visitors.

The bridge will span 554 metres, measure 5.6 metres in width, and provide a clearance of 12.5 metres above Sheikh Mohammed bin Zayed Road.

A second major project will cross Dubai–Al Ain Road, linking Wadi Al Safa 4, known as Liwan, with Nad Hessa in Dubai Silicon Oasis. The bridge will extend 730 metres in length and 5.6 metres in width, with a clearance of 7.8 metres above the roadway.

The third structure forms part of the Al Mustaqbal Street Development Project. Located on Al Sukook Street, the bridge has been designed to complement the urban character of Dubai’s Central Business District.

The bridge will measure 44 metres in length, 4.6 metres in width, and 6.5 metres in height. It will also feature lifts, staircases, and a dedicated electromechanical systems room.

All three projects are expected to be completed during the first quarter of 2027.

Zero fatalities goal remains central focus

The RTA said pedestrian safety remains a cornerstone of Dubai’s safe and sustainable transport strategy.

The expansion of the pedestrian and cycling bridge network supports the objectives of the Dubai Traffic Safety Strategy, which aims to achieve Zero Fatalities and position Dubai among the world’s leading cities for traffic safety performance.

As part of that effort, the authority continues to adopt international best practices in bridge design and construction while incorporating creative architectural features.

The bridges are equipped with advanced technologies, including electromechanical systems, alarm and fire-fighting equipment, remote monitoring capabilities, and a range of safety and security features. Selected bridges also include dedicated cycling tracks and bicycle parking facilities, further encouraging the adoption of sustainable transport options.

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