Eid Al Adha in Oman is expected to fall on May 27 (Wednesday), according to astronomical calculations by Abdulwahab Al Busaidy, Board Member of the Oman Space and Astronomical Society.

The anticipated date has sparked excitement across the Sultanate, as residents look forward to an extended holiday period and festive gatherings with family and friends.

Speaking to the Oman Observer, Al Busaidy explained the scientific basis behind the projection. “On Sunday, May 17, corresponding to the 29th of Dhul Qa’ada, 1447, the moon will set in Muscat at 7.38 pm, while the sun will set at 6.43 pm. The lunar illumination will be 1.1 per cent, and the moon will be elevated 10 degrees above the horizon, remaining visible for approximately 55 minutes,” he said.

“Based on this, we will be able to easily observe the moon, and therefore, Monday, May 18, will mark the first day of Dhul Qa’ada. Consequently, May 27 will be the 10th of Dhul Hijjah, which will be observed as Eid Al Adha across the entire Muslim world,” he added.

Extended break anticipated across sectors

The expected timing places Eid Al Adha midweek, paving the way for a likely five-day holiday. Breaks are anticipated to begin from Tuesday (May 26), with government offices, schools, and most private businesses expected to close during the period.

The holiday marks the culmination of the Hajj season and is traditionally observed with prayers, charitable giving, and family gatherings.

Official confirmation still pending

Despite the strong astronomical indicators, authorities have reiterated that final confirmation will depend on the official moon-sighting process.

Oman’s Council of Ministers approved a policy in December 2025 to announce national and religious holidays at the start of each Gregorian year. However, Eid Al Fitr and Eid Al Adha remain exceptions, with dates confirmed in line with declarations from the Main Committee for the Sighting of the Hijri Month Crescents.

The projected holiday period is already influencing travel and logistics across the country. Many residents are planning trips to interior governorates to participate in traditional celebrations and sacrificial rites.

Travel agencies are also seeing increased interest in international bookings. “We always advise clients to allow for a one-day buffer,” said a travel agent based in Muscat. “Technology gets us 99 per cent of the way there, and the crescent moon does the rest.”

Dubai’s Emirates NBD is preparing a new US dollar bond sale, marking a potential turning point for Gulf debt markets after weeks of disruption.

The bank has launched investor meetings for a benchmark additional tier 1 (AT1) issuance, with a syndicate including Abu Dhabi Commercial Bank, Barclays, Citi, Emirates NBD Capital, First Abu Dhabi Bank, HSBC and JPMorgan appointed to arrange the deal.

This is the first public debt deal from the Gulf since the Iran war began. Markets have been largely paused during the conflict, with investors holding back.

The planned bond is a perpetual non-call six-year (PNC6) AT1 instrument — a type of security banks use to strengthen their capital base. These bonds typically offer higher returns to investors but also carry more risk.

Emirates NBD is entering the market from a position of strength. It holds investment-grade ratings from Moody’s and Fitch Ratings, and is the UAE’s second-largest bank by assets.

The lender has also been active in capital markets this year, issuing a Dhs1bn digital bond and a €500m green bond earlier in 2026.

Investor meetings, which began on April 27, will determine demand and pricing for the bond.

The market will be closely watching this development as it could open the door for other Gulf issuers to return — helping restore momentum to financing across the region.

The GCC’s events and entertainment industry is no stranger to volatility. From pandemic-era shutdowns to shifting geopolitical dynamics, the sector has repeatedly demonstrated its ability to adapt, recalibrate, and rebound.

Today, as uncertainty once again shapes market conditions, the narrative is not one of decline—but of cautious recalibration.

For Tyler Davis-Smith, founder and CEO of Energie Entertainment, the current moment reflects a market that is adjusting its pace rather than losing momentum.

“What we are seeing across the GCC at the moment is not a drop in intent, but more of a shift in timing,” he says. “Projects are still moving forward, just at a significantly slower pace.”

That distinction is critical. While headlines may point to delays and reduced activity, the underlying pipeline remains active—albeit with longer planning cycles and more deliberate decision-making.

“Planning cycles are stretching out and decisions are being made more carefully,” Davis-Smith explains. “Thankfully, as it stands, it’s less about cancellations and more about reshuffling timelines, with around 80 per cent of projects being postponed rather than scrapped altogether.”

A market defined by postponements, not cancellations

Across the GCC, the shift from cancellations to postponements is reshaping how agencies operate. Rather than losing business outright, companies are navigating extended timelines, increased uncertainty, and more complex coordination requirements. For Energie Entertainment, which launched during the Covid-19 pandemic, operating in uncertain conditions is not new.

“We actually launched Energie Entertainment during the Covid-19 pandemic, so working in uncertain conditions is something we are very experienced in, fortunately,” Davis-Smith says.

This early exposure to disruption has shaped the company’s operating model, embedding flexibility into its core processes. “That has helped us stay agile in how we deliver today, we have built flexibility into our processes from the start, which means we can keep things moving even when timelines shift due to last minute changes – It is part of our job really.”

The result is an organisation designed to absorb volatility—whether through modular production planning, adaptable supplier relationships, or dynamic project timelines.

At the same time, activity remains strong in key segments. “There is still strong activity in certain sectors, especially government and real estate, where events remain an important way to keep visibility and momentum going,” he notes.

As projects are pushed back rather than cancelled, the immediate impact is being felt in planning cycles and operational workflows.

“What we are seeing is that this shift towards postponements is naturally stretching out planning cycles,” Davis-Smith explains. “Things just take a little bit longer, there is more scenario planning involved and closer coordination across stakeholders to make sure everything is ready, whatever the timeline ends up being.”

This extended timeline introduces new complexities. Agencies must now plan for multiple potential scenarios, maintain supplier readiness over longer periods, and ensure that quality is preserved regardless of when an event ultimately takes place.

“From an operational point of view, it means building flexibility into every stage, from working with suppliers through to production schedules,” he adds.

On the financial side, the shift is less about cost-cutting and more about disciplined spending.

“On the budget side, it is not so much about cuts, but being more intentional with spend and ensuring that the clients will see a good ROI for their spends,” he says.

This emphasis on return on investment (ROI) is reshaping client expectations—and, in turn, how agencies design and deliver experiences.

A more selective, ROI-driven client

Client behaviour across the GCC events sector is evolving in response to uncertainty. Flexibility, scalability, and measurable impact are now central to every project brief.

“Client expectations have definitely shifted,” Davis-Smith says. “There is a bigger focus now on flexibility, for obvious reasons, but without losing impact.”

This has led to the rise of modular event design—where concepts can scale up or down depending on external conditions without compromising brand presence.

“There’s a clear demand for entertainment concepts that can scale up or down depending on how things evolve, while still showing up strongly from a brand point of view,” he explains. “It has pushed us towards a more modular approach of designing and delivering entertainment proposals.”

At the same time, clients are becoming more selective in how they allocate budgets.

“Clients really want to see value for money on their investment,” he notes. “Clients are being more selective, choosing moments that really deliver in terms of visibility, engagement and overall brand positioning, rather than trying to do everything.”

Another notable shift is the increasing dominance of local clients.

“We are also seeing local clients, especially across government and real estate, playing a bigger role than international ones right now,” Davis-Smith says. “Local events are still very much happening, albeit fewer.”

These clients are using events strategically—to maintain visibility and signal confidence, even in quieter periods.

The ripple effect across hospitality and tourism

The slowdown in event activity is not happening in isolation. Its impact is being felt across the broader ecosystem, particularly in hospitality and tourism.

“The link between events and the wider hospitality and tourism sectors remains strong, but right now we are experiencing a noticeable slowdown,” Davis-Smith explains. “There are significantly fewer events taking place, largely due to reduced tourist activity.”

This has led to a temporary shift in how hotels and venues operate.

“Many hotels have moved into refurbishment mode during this quieter period, which is naturally impacting occupancy and overall demand,” he notes.

The cyclical nature of the ecosystem is becoming increasingly apparent. “Events drive tourism, tourism drives events, and both underpin hospitality performance,” he says. “When one softens, the effects are felt across the board.”

Despite this, key flagship events continue to play a stabilising role.

“Flagship moments like the Dubai World Cup… is a good example of how key events continue to generate movement across sectors, even if overall volumes are down,” he adds.

Looking ahead, the industry is already preparing for a rebound. “The wider market is clearly gearing up for a resurgence from September onwards,” Davis-Smith says.

With major events now pushed into the latter half of the year, agencies are focusing on managing the interim period effectively.

“The immediate focus across the industry has been on cash flow management and reducing outgoings wherever possible,” Davis-Smith says. This has led to a wave of internal restructuring across the sector. “Inevitably, we have seen the impact… with a number of companies implementing pay reductions and redundancies to manage the quieter period,” he notes.

At Energie Entertainment, however, the strategy has been different. “Our priority is to retain our full-time team,” he says. “We see that continuity as critical, particularly, with an expected surge of activity in Q3 and Q4 2026.”

This approach reflects a long-term view—prioritising readiness for the rebound over short-term cost savings.

At the same time, financial discipline within projects has become more critical. “There has also been a stronger emphasis on financial discipline within projects, ensuring advance payments are secured and that balance payments are made on time,” he explains.

Freelancers, however, are feeling the effects more acutely, as agencies rely more heavily on internal teams during quieter periods.

In uncertain times, growth strategies shift from delivery to positioning. For Energie Entertainment, this means focusing on relationships, visibility, and long-term opportunity.

“In periods like this, a lot of the focus shifts towards visibility, relationships, and long-term positioning rather than just immediate delivery,” Davis-Smith says. The company’s growth model has been rooted in organic client relationships from the start.

“We started with one client, then another, then another – and that organic growth has been fundamental to where we are today,” he explains. Maintaining those relationships is now more important than ever. “So maintaining those relationships, staying present, and continuing to add value even in quieter periods is absolutely critical.”

At the same time, the slowdown is being used as an opportunity to invest internally. “This includes upgrading systems and processes to drive better efficiency and output, as well as investing in internal training to strengthen the team,” he says. The results of this approach are reflected in the company’s growth trajectory.

“From a performance perspective, we have seen strong and consistent growth since our launch, with overall growth of approximately 879 per cent from 2021 to 2025, and 62 per cent growth between 2024 and 2025, alone.”

A resilient outlook

Despite short-term disruption, the long-term outlook for the GCC events sector remains robust.

With projections pointing to a $120bn market by 2029, the fundamentals driving growth are firmly in place. “Ongoing investment in tourism, major developments and world-class infrastructure is continuing to drive demand for events across the region,” Davis-Smith says. These investments are part of broader national strategies to position the GCC as a global hub for business and leisure.

“Government support has also played a big role in creating a stable environment for businesses to operate in,” he notes. The interconnected nature of the events ecosystem further reinforces its importance.

“Because events are so closely tied to sectors like tourism, real estate and aviation, there is a real underlying need for the industry to keep growing,” he adds.

With a surge of postponed events expected to return in late 2026, preparation is now the industry’s top priority.

“Preparation is everything right now,” Davis-Smith says. “With a wave of postponed events likely to come back around the same time… it is going to be all about managing capacity, timelines and resources carefully.” This requires proactive planning and strong supplier relationships.

“Planning ahead, keeping strong relationships with suppliers, and having a clear well-structured approach of working so delivery stays seamless, even under pressure,” he explains.

Equally important is how companies use the current period.

“Businesses that use this period as a time to get ahead, rather than hit pause, will be in the strongest positioned when demand picks up again,” he says.

For Energie Entertainment, the focus is clear. “At Energie Entertainment, we are really looking forward to a busy Q3 and Q4 ahead.”

Dubai’s property market is beginning to cool, with early signs now pointing to easing rents, according to the latest ValuStrat Price Index (VPI).

ValuStrat, a UAE-based real estate consultancy, tracks residential values using a data-led index built on comparable sales, asking prices, and agent-led market intelligence across more than 70 locations in Dubai. Its VPI is widely used as a benchmark for capital value movements across the emirate.

Read more: Property experts weigh in as Dubai scraps Dhs750k visa threshold

And for the first time since the post-pandemic recovery began, the index recorded a monthly decline, marking a potential turning point for the market.

The VPI fell to 229.2 points in March 2026, representing a 5.9 per cent monthly drop, although values remain 8.9 per cent higher year-on-year. The correction was broad-based, with villa values down 5.8 per cent and apartments falling 6.3 per cent over the same period.

The downturn is already visible across key communities. Among villas, Arabian Ranches Phase 2 (-11.5 per cent) and Dubai Hills Estate (-10.8 per cent) recorded the steepest monthly declines . Prime areas were not immune, with Emirates Hills (-1.7 per cent), District One (-1.9 per cent), and Palm Jumeirah (-8.4 per cent) all posting losses.

Apartments followed a similar pattern. Jumeirah Village Circle (-10.3 per cent), Burj Khalifa (-10.2 per cent), and Jumeirah Beach Residence (-9.9 per cent) saw the sharpest drops, while areas such as Meydan One (-1.1 per cent) and Al Kifaf (-1.2 per cent) recorded more modest declines . The breadth of the correction suggests the shift is extending across both mid-market and prime segments.

The slowdown is being driven by a combination of external and seasonal factors. ValuStrat points to regional geopolitical tensions, Ramadan and Eid timing, increased remote working, and adverse weather as key contributors to softer activity levels .

That softer sentiment is also reflected in transaction data. Off-plan registrations declined 9.3 per cent month-on-month, while ready home sales dropped 37.8 per cent, although off-plan still accounted for 78 per cent of transactions . At the top end, just 21 ready-property deals above Dhs30m were recorded, including five above Dhs50m.

Lower rentals?

The shift might become significant for tenants. Rental movements typically lag capital values, meaning the current decline could feed through into leasing prices in the coming months. With prices softening, landlords are starting to lose some of the pricing power that has defined the market over the past two years.

Separate data from Property Finder, shared with Gulf Business sister publication What’s On, suggests the rental adjustment is already underway, albeit gradually. Average rents across the UAE declined 5.4 per cent between January–February and April 2026, with Dubai recording a 6.7 per cent drop over the same period.

Cherif Sleiman, chief revenue officer at Property Finder, told What’s On that the shift reflects a “measured phase” rather than a sharp downturn. “What this reflects is a natural rebalancing within a market that continues to operate from a position of grit and buoyancy,” he said.

Notably, some of Dubai’s most sought-after neighbourhoods — including Downtown Dubai, Palm Jumeirah and Jumeirah Lake Towers — have already seen rental declines of around 15 per cent, pointing to a broader adjustment even in prime locations.

For now, the correction remains early. But taken together, the ValuStrat data and Property Finder insights point to a market transitioning away from rapid price growth towards a more balanced phase: one where tenants may increasingly benefit, and landlords may need to adjust expectations.

Read more-Insights: How long can the Dubai real estate market hold?

At least seven ships, mainly dry bulk vessels, have crossed the Strait of Hormuz in the past 24 hours, in line with muted activity in recent days, shipping data showed on Monday, while talks between Iran and the US have stalled.

The vessels included ships leaving from Iraqi ports and one dry bulk vessel from an Iranian port, according to ship tracking data from Kpler and separate satellite analysis from data analytics specialists SynMax.

Shipping traffic passing through the crucial ‌waterway at the entrance to the Gulf during an uneasy ceasefire between Washington and Tehran represents a fraction of the average 140 daily passages before the Iran war began on February 28.

Read more-Strait talk: What the Hormuz crisis means for GCC markets in Q2 2026

The US Central Command has redirected 37 vessels since a blockade was imposed on Iran on April 13, the military said on April 25.

Six Iranian tankers returned to Iranian ports and sailed back through Hormuz in recent days with some 10.5 million barrels of oil, according to satellite analysis from TankerTrackers.com.

Around four million barrels of Iranian oil onboard tankers sailed through the U.S. blockade on April 24, according to separate satellite analysis from TankerTrackers.com.