The UAE has assumed the presidency of the Middle East and North Africa Financial Action Task Force (MENAFATF) for 2026, the regional body said on Monday, as it prepares for a new round of assessments aligned with global anti-financial crime standards.

The UAE will be represented by Hamid Saif AlZaabi during its presidency, which comes as MENAFATF readies the launch of the third round of mutual evaluations in line with the Financial Action Task Force’s fifth-round methodology, according to the state news agency, WAM.

MENAFATF said the UAE’s leadership will focus on strengthening member states’ readiness for upcoming evaluations, modernising governance frameworks, deepening international cooperation, and addressing emerging financial crime risks.

The presidency forms part of a coordinated two-year sequence with Bahrain, which will assume leadership of the group in 2027, reflecting an effort to ensure continuity and longer-term capacity building across the region.

“It is a great honour to take on this leadership role,” AlZaabi said, according to WAM.

He added, “The Middle East and North Africa play a vital role in the global financial system today. Our region connects continents, markets and major trade corridors, and what happens here increasingly shapes international financial stability.”

Suliman Al-Jabrin, executive secretary of MENAFATF, said the joint priorities set by the UAE for 2026 and Bahrain for 2027 reflect a forward-looking approach that would strengthen governance and support member states as they prepare for the next round of mutual evaluations.

UAE’s MENAFATF presidency will focus on boosting institutional governance

Under the UAE’s presidency, MENAFATF will prioritise enhancing its institutional governance and internal structures, alongside strengthening the efficiency and resources of its secretariat.

International engagement will also be expanded, including cooperation with FATF, other regional bodies and international observers.

MENAFATF said dedicated workstreams will address risks linked to virtual assets, fintech, artificial intelligence, beneficial ownership transparency and asset recovery, in line with global anti-money laundering and counter-terrorist financing priorities.

The group comprises 21 member states across the Middle East and North Africa, representing a combined gross domestic product estimated at more than $3tn, highlighting the region’s role in global financial stability, WAM reported.

Meraas has unveiled an expanded masterplan for Dubai Design District (d3), repositioning the area as a creative-led waterfront neighbourhood aimed at attracting global talent and investment.

The enhanced plan will introduce canal-front living, cultural quarters, public green spaces and walkable streets, creating an integrated community where residents can live, work and collaborate.

Located between Downtown Dubai and Dubai Creek, the district spans about 18 million square feet and blends residential, cultural, retail and hospitality elements.

Meraas said the expansion supports Dubai’s ambition to strengthen its position as a global centre for design, innovation and culture, in line with the Dubai Economic Agenda D33.

The move also responds to rising demand for design-focused, well-connected waterfront communities, following strong interest in recent launches at d3 from local and international buyers.

Dubai Design District expanded masterplan: Key highlights

A central feature of the new masterplan is the Design Line, a shaded, pedestrian-first spine linking the district end to end.

The corridor will be activated by public art, creative installations, landscaped green spaces and community areas, reinforcing a walkable, human-centric environment.

The master plan targets LEED Silver community certification and includes measures such as sustainable mobility, energy-efficient design, and improved connectivity, alongside visual integration with Dubai Creek and the Ras Al Khor Wildlife Sanctuary.

Five zones to shape the area

Five distinct zones will shape the neighbourhood, including a canal-front area with contemporary residences and boutique hospitality, an urban core combining homes with curated retail and dining, and a cultural hub centred on performance venues overlooking the d3 Bowl.

Additional zones will focus on wellness-oriented living, featuring parks and sports facilities, as well as a creative quarter with galleries, studios, and loft-style spaces.

“Expanding the Dubai Design District masterplan into a fully integrated creative neighbourhood is a significant step in advancing the ambitions of the Dubai Economic Agenda D33,” Khalid Al Malik, chief executive officer of Dubai Holding Real Estate, said in a statement. He added that the development reinforces Dubai’s appeal as a destination for long-term investment, talent and innovation.

Momentum at d3 has accelerated in recent months, with Meraas pointing to strong demand for new projects, including the sell-out of Atelis, a 280-unit waterfront tower, and the launch of The Edit, a three-tower development offering 557 homes.

Dubai World Trade Centre (DWTC) said on Monday it will host 71 international exhibitions and conferences in H1 2026, reinforcing Dubai’s strategy to deepen its role as a global hub for trade, investment and business tourism.

The events calendar spans sectors including security, healthcare, food and beverage, energy, mobility, tourism, technology and culture, with flagship platforms such as Gulfood, World Health Expo (WHX) and Arabian Travel Market expected to draw decision-makers, investors and industry leaders from around the world.

Several mega events will be co-located across DWTC and the expanded Dubai Exhibition Centre (DEC), a move the venue operator said would significantly increase the city’s ability to host large-scale international gatherings and amplify their economic impact.

“DWTC’s H1 2026 events calendar reinforces Dubai’s role as a catalyst for economic growth, business tourism and cross-sector collaboration, in line with Dubai’s Economic Agenda D33,” Mahir Julfar, executive vice president at DWTC, said in a statement.

He added that operating across both venues would support the growth of events and industries while enhancing contributions to the local economy.

DEC’s ongoing Dhs10bn expansion, aligned with the Dubai 2040 Urban Master Plan and Expo City Dubai’s development, is central to that capacity push.

Since its inauguration in 1979, DWTC has hosted nearly 6,400 events, generating an estimated Dhs270bn in economic output and attracting more than 40 million business visitors, according to the venue operator.

Key events that DWTC will host in H1

The calendar opens in January with Intersec, Light + Intelligent Building Middle East and FESPA Middle East, before Gulfood later in the month becomes the first mega event staged at the newly expanded DEC. February will focus on healthcare, aviation and logistics, led by WHX, formerly Arab Health, and WHX Labs.

Events pause during Ramadan, before resuming after Eid with DUPHAT in March and Middle East Energy in April.

May will feature Arabian Travel Market alongside events focused on humanitarian aid, cybersecurity, education, payments and aviation, while June concludes the first half of the year with major hospitality, design, mobility and public safety platforms, including The Hotel Show and the World Police Summit.

Dates for shows

January

• January 12–14: Intersec
• January 12–14: Light + Intelligent Building Middle East
• January 13–15: FESPA Middle East
• January 18–20: World of Coffee Dubai
• January 19–21: UAE International Dental Conference and Arab Dental Exhibition (AEEDC Dubai)
• January 26–30: Gulfood (co-hosted at DWTC and Dubai Exhibition Centre (DEC). Gulfood will be the first mega event hosted in the newly expanded DEC)

February

• February 4–5: Aircraft Interiors Middle East
• February 4–5: MRO Middle East
• February 4–5: Breakbulk Middle East
• February 4–5: World Shisha Show
• February 4–8: Dubai 2026 World Stamp Exhibition
• February 9–12: World Health Expo (WHX)
• February 10–13: WHX Labs
• February 10–12: Dubai Entertainment, Amusement & Leisure Expo
• February 11–12: IFX Expo Dubai

Ramadan

• February 18 – March 19: The Majlis (Iftar programme)

March

• March 24–26: Dubai International Pharmaceuticals and Technologies Conference and Exhibition (DUPHAT)
• March 31 – April 2: Dubai World Dermatology and Laser Conference and Exhibition (Dubai Derma)
• March 31 – April 2: Gulf Print & Gulf Pack

April

• April 7–9: Middle East Energy
• April 7–9: DOMOTEX Middle East
• April 12–13: Petworld Arabia
• April 13–15: International Property Show
• April 14–16: Middle East Coatings Show
• April 21–23: Dubai International Wood and Wood Machinery Show
• April 22–26: World Art Dubai
• April 30 – May 1: The Baby Expo

May

• May 4–7: Arabian Travel Market (ATM)
• May 5–7: Dubai International Humanitarian Aid & Development Conference & Exhibition (DIHAD)
• May 5–7: International Emergency and Catastrophe Management Conference and Exhibition
• May 5–7: GISEC Global
• May 6–8: GETEX Spring
• May 12–14: Seamless Middle East
• May 12–14: Airport Show & Global Airport Leaders Forum
• May 18–20: International Apparel and Textiles Fair

June

• June 2–4: The Hotel Show
• June 2–4: INDEX
• June 2–4: CABSAT
• June 9–10: Middle East Event Show
• June 9–10: Middle East Rail
• June (dates not specified): MOVE Middle East
• June (dates not specified): EV Live
• June (dates not specified): Solar & Storage Live
• June 17–19: China Home Life
• June 17–19: International Appliance and Electronics Show

Read: It’s official: 2025 will be the last year GITEX GLOBAL is hosted at DWTC

Concerns about oversupply and a potential slowdown in Dubai’s real estate market do not appear to be troubling landlords at the ultra-luxury end, where annual rentals are pushing well into multi-million-dirham territory.

Real estate brokerage Exclusive Links says it completed one of Dubai’s highest-value residential rental transactions of 2025 last month, securing a Dhs4.25m annual lease for a mansion in Dubai Hills Estate.

The fully furnished home spans 18,749 square feet and features expansive living areas, a private swimming pool, jacuzzi, landscaped outdoor spaces and six-car underground parking.

The property is close to championship golf courses, premium retail outlets, top-tier schools and business districts.

James Gosling, who handled the transaction for Exclusive Links, said the firm secured a VIP tenant — already residing in Dubai — within just one week of the property being listed.

“Large, well-positioned homes in established master-planned communities are attracting serious enquiries quickly, provided they are priced and marketed correctly,” Gosling told Gulf Business.

“We are also seeing sustained demand for long-term ultra-prime rentals from tenants who value flexibility, capital mobility, or who maintain multiple global residences. Dubai’s depth of luxury stock now supports both paths, which is why the rent-versus-buy decision at this level is increasingly strategic rather than purely financial,” he added.

While Dhs4.25m a year would be considered an exceptional rental by most standards, verified data seen by Gulf Business suggests some tenants are paying even higher rents in the same area.

At least two other properties in Dubai Hills Estate have secured leases worth Dhs25m and Dhs22m respectively over 24-month periods.

In the same neighbourhood, the Dhs4.25m annual rental ranks among the highest recorded recently, with at least ten properties being leased for between Dhs2.2m and Dhs2.75m per year. Several other homes in the area have also fetched rents exceeding Dhs3m annually.

Further afield, current listings on the Palm Jumeirah advertised on property portal Property Finder show some signature villas being marketed for rents above Dhs16m a year.

Asked why tenants capable of affording such rents might opt not to buy, Gosling said the decision often reflects a desire to assess options before committing long term.

“Many ultra-high-net-worth tenants choose to rent initially while they familiarise themselves with Dubai, assess communities, schooling and lifestyle fit,” he said. “After 12–24 months, a significant proportion transition into ownership once they are confident in their long-term plans.”

These ultra-prime rentals also coincide with the UAE attracting the highest number of dollar millionaires globally last year.

Private wealth advisory firm Henley & Partners reported that the UAE was on track for a net inflow of 9,800 millionaires, ahead of the US, which recorded a net inflow of 7,500.

Slowdown? What slowdown?

Multi-million-dirham rentals appear to sit alongside some warnings that oversupply risks may be building in Dubai’s property market.

In May last year, Fitch Ratings cautioned that Dubai property prices could fall by up to 15 per cent in the second half of 2025 and into 2026, amid an estimated 120,000 new units expected to come online in 2026, up from 90,000 in 2025.

Those projections, however, have been widely debated across the industry.

At Gulf Business’ latest real estate panel in November, Lewis Allsopp, chairman of Allsopp & Allsopp, dismissed predictions of an imminent downturn, pointing instead to population growth, infrastructure expansion and more than $700bn in long-term investment commitments.

Read more: Gulf Business Real Estate Summit — Dubai defies gravity with record sales, soaring prices

“Dubai remains highly attractive to high-net-worth individuals, including premier league footballers,” Allsopp said. “Real-world demand contrasts sharply with short-term reports suggesting weakness.”

“In fully developed areas such as the Palm, prices have absolutely skyrocketed over the years,” he added.

“It all depends on location.”

Most major stock markets in the Gulf were mixed in early trade on Monday amid weaker oil prices as investors weighed oversupply concerns against geopolitical risks.

Brent crude futures were down 52 cents, or 0.8 per cent, to $60.23 a barrel, as adequate global supplies offset concerns about supply disruptions after the US captured Venezuelan President Nicolas Maduro in an audacious raid over the weekend.

Read more: Maduro is out but it’s unclear who is running Venezuela

Saudi Arabia’s benchmark index dropped 0.2 per cent, extending losses from the previous session’s 1.8 per cent fall. Oil giant Saudi Aramco slipped 0.6 per cent.

The kingdom’s non-oil private business sector remained in growth territory in December, though expansion slowed to a four-month low and new order growth decelerated, according to a survey released on Monday.

Dubai’s main share index dropped 0.6 per cent, with blue-chip developer Emaar Properties losing 1.4 per cent and toll operator Salik retreating 1.7 per cent.

In Abu Dhabi, the index was down 0.6 per cent.

OPEC+ kept oil output unchanged on Sunday after a quick meeting that avoided discussing the political crises affecting several of the producer group’s members.

Qatar bucked the regional trend, with its index rising 0.8 per cent.

The Gulf’s biggest lender, Qatar National Bank QNBK.QA, advanced 1 per cent.

Egypt and Qatar signed a memorandum of understanding to boost cooperation in LNG sales and imports, including terms for supplying Qatari shipments to Egypt’s Ain Sokhna and Damietta ports, Egypt’s petroleum ministry said on Sunday.