Indian Prime Minister Narendra Modi on Sunday urged a spate of measures including fuel conservation, work-from-home practices and limits on travel and imports, as a surge in global energy prices puts pressure on the country’s foreign exchange reserves.

People should prioritise a return to work-from-home and online meetings, widely adopted during the COVID-19 pandemic, saying it would help India use less fuel, Modi said.

“In the current situation, we must place great emphasis on saving foreign exchange,” he said.

Modi also asked people to use public transport such as the metro and to carpool where possible to conserve fuel.

India, the world’s third-biggest oil importer and consumer, late last month said there was no proposal to raise pump prices for diesel and gasoline, leaving it among the countries yet to raise prices despite the global surge.

Modi urged people to avoid buying gold — which India spends on heavily during weddings — and to cut non-essential overseas travel for at least a year to save foreign exchange.

He called on families to reduce cooking oil consumption, describing that move as both healthy and patriotic.

Modi also asked farmers to cut fertilizer use by as much as half.

Dubai’s real estate market has delivered a significant start to 2026, underscoring its resilience and sustained global appeal even amid shifting regional dynamics. According to the Dubai Land Department (DLD), property transactions surged 31 per cent year-on-year in Q1 2026, reaching an unprecedented Dhs252bn in total value.

The performance marks solid quarterly openings on record, providing a base for the market to absorb recent geopolitical developments. Far from disrupting sentiment, the data suggests a maturing ecosystem increasingly driven by data-led decision-making and long-term investor conviction.

Latest analytics from Bayut and dubizzle indicate that international investor confidence has remained largely unchanged, with no significant shift in the balance between local and overseas property seekers.

Read more-Why Dubai’s property market is bruised — but not broken

This stability reinforces Dubai’s position as a global safe-haven for real estate capital. The platforms also report that overall market activity rebounded swiftly, with total active users returning to 99 per cent of baseline levels within just 51 days following recent regional disruptions.

The global appetite for Dubai property remains anchored by a diversified mix of international investors. According to recent traffic and inquiry data, the UK, Germany, and India continue to lead overseas interest in the emirate’s real estate market.

While all major international markets saw moderate declines during early 2026 volatility, India and Germany stood out for their resilience, posting comparatively smaller drops in activity. This sustained engagement, combined with a sharp recovery in local UAE demand, has brought the ecosystem back close to full operational normalcy in under two months.

Quality over quantity: A more mature market emerges

Beyond record transaction volumes, the defining theme of Q1 2026 has been a notable improvement in engagement quality. Buyer sentiment has shifted toward more informed, research-driven decision-making, with 82 per cent of property seekers rating service quality as “Strong” during the recovery period.

“Dubai’s property market is increasingly driven by informed participants who prioritise data over impulse,” said Fibha Ahmed, VP of Property Sales at Bayut and dubizzle. “What we are seeing is a rational market that has just come off its most successful quarter in history. The fact that the local-to-international demand split remained unchanged proves that global investors now use digital transparency to navigate short-term noise. They are taking meaningful next steps, supported by a professionalised workforce and real-time transaction data.”

Community-level performance signals broad-based growth

Demand trends across Dubai’s communities reveal a clear preference for both established ready properties and emerging master-planned developments.

● Ready-sale apartments: Prime communities such as Dubai Hills Estate saw view activity rise to 123 per cent of baseline levels, reflecting sustained end-user and investor appetite.

● Future growth corridors: Emerging hubs including Mohammed Bin Rashid City and Dubai South recorded strong recoveries, with views reaching 92 per cent and 63 per cent of baseline levels respectively.

● Villa segment surge: End-user villa communities have emerged as a key growth driver, with DAMAC Lagoons recording a striking 186 per cent surge in views, highlighting strong demand for lifestyle-led suburban developments.

As the market stabilises at near-full activity levels, the combination of record Q1 performance and rapid post-disruption recovery is increasingly seen as a validation of Dubai’s institutional-grade real estate resilience.

Emaar Properties reports strong Q1 as demand and backlog surge

In parallel with the broader market expansion, Emaar Properties also reported a strong start to 2026, driven by sustained demand across its core development, retail, and recurring-income businesses.

The group’s diversified model, disciplined execution, and strong backlog conversion have reinforced earnings visibility and operational strength across segments.

Revenue rose 23 per cent year-on-year to Dhs12.4bn, while EBITDA increased 34 per cent to Dhs7.2bn, reflecting operating leverage and cost discipline across the portfolio.

Strong sales momentum and expanding backlog

Emaar’s property sales reached approximately Dhs22.4bn in Q1 2026, up 16 per cent year-on-year, supported by strong demand across established communities and new launches.

As of 31 March 2026, the company’s revenue backlog expanded significantly to Dhs163.4bn, up 29 per cent year-on-year, ensuring long-term revenue visibility.

Profitability also strengthened, with net profit before tax rising 33 per cent year-on-year to Dhs7.2bn.

The Group maintained a strong capital return profile, recently distributing a dividend equivalent to 100 per cent of share capital, amounting to Dhs8.9bn for the second consecutive year.

Mohamed Alabbar, founder of Emaar, said: “Our performance in the first quarter of 2026 reflects the strength and resilience of the UAE economy, which continues to provide a stable foundation despite broader regional volatility. Recent geopolitical developments in the region have reinforced the importance of operating in markets defined by safety, institutional continuity, and long-term vision. The UAE’s stability is the result of decades of wise leadership, sustained investment in world-class infrastructure, and a clear, business-friendly policy environment. The sustained trust of our customers and investors enables us to maintain momentum, and we remain focused on delivering high-quality developments, operational discipline, and long-term value through a diversified and resilient business model.”

Segment performance: Diversified strength across businesses

UAE Property Development

Emaar Development continued to lead growth in the UAE build-to-sell segment.

• Property sales: Dhs20.1bn (up 22 per cent year-on-year)
• Revenue: Dhs6.9bn (up 36 per cent)
• Net profit before tax: Dhs4.0bn (up 46 per cent)
• UAE development backlog: Dhs143.3bn

During the quarter, Emaar launched 10 new projects, including The Heights Country Club & Wellness, a wellness-focused master development centred on green living and lifestyle integration.

International operations

International development remained a steady contributor, led primarily by Egypt.

• Property sales: Dhs2.3bn
• Revenue: Dhs0.7bn (up 5 per cent)
• Share of group revenue: 5.3 per cent

Malls, retail, and commercial leasing

The retail and leasing portfolio delivered strong performance supported by high occupancy and rental growth.

• Revenue: Dhs1.8bn (up 15 per cent)
• EBITDA: Dhs1.5bn (up 16 per cent)
• Occupancy: 98 per cent

Hospitality and leisure

The hospitality segment remained stable, though March performance was affected by regional conditions.

• Revenue: Dhs1.0bn
• UAE hotel occupancy: 69 per cent

Recurring income strength

Recurring revenue assets continued to provide stability and cash flow visibility.

• Revenue: Dhs2.8bn (up 7 per cent)
• EBITDA: Dhs2.2bn (up 7 per cent)
• Contribution: 30 per cent of total EBITDA

Despite ongoing global uncertainty, Emaar remains well-positioned for sustained expansion, supported by strong market fundamentals, a record backlog, and a resilient recurring income base.

The Group continues to prioritise disciplined execution, capital efficiency, and long-term value creation while advancing its sustainability and ESG commitments, including progress toward its Net Zero 2050 strategy.

Crypto.com has become the first Virtual Asset Service Provider (VASP) in the UAE to receive a Stored Value Facilities (SVF) licence from the Central Bank of the UAE (CBUAE), marking a significant milestone for the country’s regulated digital assets ecosystem.

The licence, granted to Crypto.com’s UAE entity Foris DAX Middle East FZE, enables the platform to roll out regulated virtual asset payment services across the Emirates, including a previously announced partnership with the Dubai Department of Finance.

Under the arrangement, UAE residents will be able to pay government fees using virtual assets, with all settlements conducted in UAE dirhams or CBUAE-approved dirham-backed stablecoins through the SVF framework. The move supports the emirate’s broader Dubai Cashless Strategy and expands the role of regulated digital payments within public services.

As the only VASP currently holding an SVF licence in the UAE, Crypto.com will exclusively provide these payment services through its VARA-licensed platform.

The approval also paves the way for future crypto payment integrations with Emirates Airlines and Dubai Duty Free, subject to additional approvals from the CBUAE.

“To be the first VASP to receive this license is an incredible achievement and proves our strong commitment to compliance and to advancing the regulated digital assets ecosystem in the UAE,” said Eric Anziani, President and COO of Crypto.com. “We are always developing our presence in this forward-thinking, digital-savvy market and continue to lead the way when it comes to offering innovative products and services that are genuinely convenient and seamless for those who own digital assets.”

Mohammed Al Hakim, President and General Manager for UAE & Bahrain at Crypto.com, added: “We are now able to offer what no other digital asset platform can, by providing exclusive digital asset payment services for Dubai Government fees to residents in the UAE.

“It is such an honour to be able to now launch our Dubai Finance partnership and play our role in not only enabling the cashless strategy, but also advancing the future of digital payments in the UAE.”

The development further strengthens the UAE’s positioning as a global hub for regulated digital assets and financial innovation, as authorities continue to advance frameworks balancing innovation with compliance and consumer protection.

Dubai’s Roads and Transport Authority (RTA) has launched the emirate’s first smart bus station at Mall of the Emirates, introducing an AI-powered public transport hub designed to enhance customer experience, improve operational efficiency, and support Dubai’s wider smart mobility ambitions.

The Mall of the Emirates Smart Bus Station integrates digital technologies, real-time data systems, and sustainability features into a single transport interchange, serving 11 bus routes while connecting directly to the Mall of the Emirates Metro Station.

The launch marks a significant step in RTA’s broader strategy to modernise Dubai’s public transport infrastructure through innovation and digital transformation.

Mattar Al Tayer, Director General and Chairman of the Board of Executive Directors of RTA, said: “At RTA, we are committed to enhancing customer service by harnessing the latest digital technologies and smart solutions to deliver the highest levels of comfort and efficiency for users, while strengthening the appeal of the public transport network. Adopting this integrated digital model raises operational efficiency and delivers higher levels of customer satisfaction.”

He added that the project aligns with Dubai’s vision of becoming one of the world’s best cities to live, work, and visit, while encouraging greater adoption of public transport.

Spanning approximately 147 square metres, the station can accommodate up to 20 passengers at a time and includes a dedicated driver rest area. The facility delivers services through interactive and proactive digital systems operating around the clock.

Among its key features are real-time information displays integrated with Dubai Metro and taxi services, AI-powered crowd monitoring and violation detection systems, smart ticketing and recharge devices, a digital customer service kiosk with a virtual assistant, and occupancy tracking for incoming buses.

The station also incorporates sustainability-focused infrastructure, including solar panels for power generation and smart sensors that monitor air quality.

Al Tayer noted that the AI-enabled systems would support crowd management, operational discipline, and real-time analytics for transport operators, while improving safety and customer flow.

The smart station serves six Dubai Metro feeder routes, three internal routes, and two seasonal routes, connecting major residential, commercial, and tourist areas including Al Barsha, Jumeirah Village Circle, Dubai Science Park, Arabian Ranches, Dubai Miracle Garden, and Global Village.

RTA said the project establishes a future-ready model for public transport infrastructure in Dubai, with plans to scale similar smart station concepts across the wider transport network as part of the emirate’s long-term sustainable mobility strategy.

Dubai Duty Free has announced a wide-ranging promotional campaign for May, offering travellers discounts of up to 50 per cent across several retail categories, while simultaneously celebrating the latest winners of its renowned Millennium Millionaire and Finest Surprise draws.

The retailer’s latest “take-off deals” campaign includes promotional offers on electronics, costume jewellery, watches, perfumes and cosmetics, with discounts ranging between 20 and 50 per cent on selected items. Customers can also benefit from buy-one-get-one-free offers, buy-two-get-one-free deals and a variety of multi-buy promotions available throughout the store.

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“Travelling to Dubai this May? You’ll want to take a little extra time at Dubai Duty Free. Our take-off deals are now on,” the company said in a post published on its official Instagram account.

Read more-Dubai Duty Free sales hit Dhs8.680bn in 2025: See top sellers

“With offers across electronics, costume jewellery, watches, perfumes to cosmetics, you’ll find savings of 20 per cent, 30 per cent, 40 per cent and even up to 50 per cent off on selected items. And it doesn’t stop there. Look out for buy one get one free, buy two get one free and plenty of multi-buy offers across the store. So take your time while you’re here. It’s definitely worth a look this May,” the post added.

The campaign comes as passenger traffic through Dubai International Airport continues to remain strong, reinforcing Dubai’s position as one of the world’s leading aviation and retail hubs.

Indian national from Jeddah wins $1m

In a separate development, Dubai Duty Free announced the latest winners of its Millennium Millionaire and Finest Surprise promotions during a draw held at the company’s head office in Ramool.

Mohammed Saleem, a 61-year-old Indian national residing in Jeddah, Saudi Arabia, won $1m in Millennium Millionaire Series 542 with ticket number 0794, purchased online on April 15.

Saleem, who has been participating in Dubai Duty Free promotions for the past six years, currently works as a mechanical engineer for JTECO and is a father of two.

“Thank you Dubai Duty Free for providing this opportunity, it will help me a lot in my life,” he said following the announcement.

Speaking about his future plans, Saleem added, “I will support my family back home in India, invest in a small business, and save for my children’s education and my retirement.”

Originally from Bangalore, Saleem becomes the 274th Indian national to win the $1m Millennium Millionaire prize since the promotion was launched in 1999. Indian nationals continue to represent the largest group of ticket purchasers in the long-running draw.

The draw was conducted by Dubai Duty Free Deputy Managing Director Salah Tahlak, alongside senior executives including Bernard Creed, senior vice president for Finance; Mona A. Ali, senior vice president for Human Resources; Michael Schmidt, senior vice president for Retail; and Sharon Beecham, senior vice president for Purchasing.

Luxury motorbike winners announced

Following the Millennium Millionaire draw, Dubai Duty Free also announced the winners of two luxury motorbikes as part of its Finest Surprise promotion.

Abdel Khachnaoui, a Tunisian national based in the UAE, won a BMW F 900 GS Adventure motorbike in Finest Surprise Series 664 with ticket number 0502, purchased online on October 22, 2025. Company officials said the winner was unavailable for immediate comment.

Meanwhile, Eid Ali, a 39-year-old Emirati national living in Dubai, won an Aprilia Tuono V4 1100 motorbike in Finest Surprise Series 665 with ticket number 1134, purchased online on April 15.

Ali is already familiar with Dubai Duty Free’s prize promotions, having previously won a Mercedes-Benz SL55 in May 2024.

“Thank you Dubai Duty Free for this second win. Now that I’ve finally won both a car and a motorbike, I’m looking forward to winning the $1m promotion as well,” he said.

A regular participant in the retailer’s promotional draws for more than five years, Mr. Ali currently works for Dubai Police.