Saudi Arabia’s Crown Prince Mohammed bin Salman has launched the first vehicles from CEER, the kingdom’s national automotive company, as Saudi Arabia moves to develop a domestic automotive manufacturing industry under Vision 2030.

The EXOBOT sedan and SUV are the flagship electric vehicles from CEER and form part of a planned portfolio of seven models that the company intends to launch over the next five years.

The future portfolio will include midsize and compact vehicles with different propulsion options aimed at serving a range of customer requirements.

The EXOBOT sedan and SUV have been designed and engineered locally, with their design drawing inspiration from Saudi Arabia’s landscape and culture.

CEER to manufacture EXOBOT in Saudi Arabia

The vehicles will be manufactured at the CEER Manufacturing Complex (CMC), which the company describes as the largest automotive production facility in the Middle East and one of the most technologically advanced globally.

The launch forms part of Saudi Arabia’s broader efforts to establish an integrated domestic automotive ecosystem, attract investment and expand the private sector’s contribution to the economy.

By 2034, CEER is projected to contribute more than SAR30bn ($8bn) to Saudi Arabia’s GDP and more than SAR80bn ($21bn) towards improving the kingdom’s trade balance, while creating direct and indirect jobs.

Crown Prince Mohammed bin Salman said: “The launch of CEER’s first vehicles represents another step forward in Saudi Arabia’s progression to build a sustainable and prosperous industrial ecosystem. It further enables the automotive sector as a key driver of economic growth, through attracting investments, empowering national talent, and expanding the private sector’s role to further position Saudi Arabia to become a leading regional and global hub for this industry.”

PIF’s Saudi automotive push

The Public Investment Fund (PIF) launched CEER in 2022 as Saudi Arabia’s first vehicle brand, with a mandate to support the development of the kingdom’s industrial ecosystem and automotive supply chain.

The company is also intended to attract investment, create opportunities for private-sector businesses and increase the automotive industry’s contribution to Saudi GDP.

The launch of EXOBOT represents the next stage of that strategy, moving CEER towards bringing locally designed and engineered vehicles to market while building domestic automotive manufacturing capabilities.

Ras Al Khaimah’s residential property market continued to record strong year-on-year growth during the first half of 2026, with apartment sales values rising around 18 per cent to Dhs2,298 per square foot, according to new research from CBRE Middle East.

Villa sales values increased 7.3 per cent over the same period, although CBRE said pricing and absorption levels have moderated since the end of February following a period of rapid growth.

Waterfront communities continued to lead the market, with apartment values on Al Marjan Island increasing 23.1 per cent year-on-year and Al Hamra recording growth of 14.7 per cent.

The ready-property market also registered higher prices, with apartment values rising 11 per cent and villa values increasing 10 per cent compared with the same period last year.

Rental demand remained strong, with apartment rents up 14.3 per cent year-on-year, led by Mina Al Arab and Al Marjan Island.

Luxury deals set new records

RAK’s luxury segment recorded several major transactions during the first half, including the $35.4m sale of the Sky Palace at Waldorf Astoria Residences, which CBRE said was the highest-value residential transaction recorded in the emirate.

A penthouse at the same project sold for $15m, while a Sky Mansion at Mondrian Al Marjan Island Beach Residences changed hands for $34.7m.

The emirate is now preparing for a significant increase in residential supply. More than 34,000 units are expected to be delivered between 2026 and 2030, including around 10,000 branded residences.

Projects announced during the period included The Strand and Lunara by RAK Properties, Beyond Developments’ Dhs25bn Evermore masterplan and Karl Lagerfeld Beach Residences on Al Marjan Island.

RAK hotel visitors reach record 670,400

Tourism performance was more mixed during the first half. Ras Al Khaimah welcomed a record 670,400 hotel visitors, up 2.7 per cent year-on-year, supported by stronger domestic and GCC demand.

Domestic visitor numbers and arrivals from GCC markets both increased 47 per cent year-on-year.

Hotel operating performance, however, softened. Average occupancy stood at 49 per cent, while revenue per available room (RevPAR) declined 28.6 per cent to Dhs348 per night.

Average daily rates (ADR) increased 5.2 per cent to Dhs705.6, while hotels generated more than Dhs606m in total revenue during the six-month period, including Dhs385m from rooms and Dhs192m from food and beverage operations.

RAK currently has around 9,000 hotel keys across 60 properties, with another 8,500 keys planned between 2027 and 2030. More than 80 per cent of the future supply is expected to be in the five-star segment, with nearly two-thirds located on Al Marjan Island.

The emirate’s development pipeline also includes the $5.1bn Wynn Al Marjan Island integrated resort, which is expected to open in September 2027.

During H1 2026, the RAK Chamber of Commerce & Industry reported Dhs771.5m in new investment capital across 967 newly registered establishments, involving 1,399 investors from 68 nationalities and an expected 2,449 jobs.

Matthew Green, head of research at CBRE MENA, said: “The pace of change we are witnessing in Ras Al Khaimah continues to impress. Despite a more challenging regional backdrop, investor interest in the emirate remains evident, supported by a growing pipeline of high-profile development and infrastructure projects.”

He added: “While we are beginning to see a moderation in some performance indicators including absorption levels and sales pricing following an exceptional period of growth, overall activity levels remain positive. With major hospitality, residential and tourism projects continuing to progress, Ras Al Khaimah is well positioned to strengthen its role as one of the UAE’s most compelling investment and lifestyle destinations in the coming years.”

QatarEnergy expects the first train of its North Field East (NFE) liquefied natural gas expansion project to start production in the first half of 2027, but additional trains will depend on the Strait of Hormuz crisis.

Disruptions caused by the effective closure of the strait since the US and Israel began their war on Iran threaten to push back part of the world’s largest LNG expansion project at a time when Qatar is trying to replace volumes lost after attacks on its Ras Laffan export hub.

Speaking at the Qatar Economic Forum Special Edition in New York on Sunday, QatarEnergy CEO Saad al-Kaabi, who is also minister of state for energy affairs, said equipment needed for the expansion was still unable to reach the country because of the Strait of Hormuz disruption.

A few LNG trains under the NFE expansion are due to start during 2027 and the North Field South (NFS) expansion is expected to begin production in 2028, he said.

Qatar continues to deal with damage caused by attacks on Ras Laffan, which wiped out 17 per cent of the country’s LNG capacity.

Kaabi said the attacks damaged two LNG trains, where repairs could take three years to complete, and one gas-to-liquids (GTL) plant that will complete repairs in the first quarter of 2027.

Despite the damage, Qatar would be able to resume normal gas operations within weeks once the Strait of Hormuz reopens, Kaabi said, adding that QatarEnergy is producing very little LNG.

Asked about reports that Qatar was buying LNG in the market, Kaabi said QatarEnergy continued to expand its trading business and would become “the largest LNG trader in the world by far” in the near future.

Kaabi said that second and third trains at the Golden Pass LNG project in Texas, a joint venture between QatarEnergy and Exxon Mobil, are expected to be fully operational in 2027.

Golden Pass shipped its first LNG cargo in April after starting production at its first train in March. When fully operational, the project is expected to produce 18 million metric tons per year of LNG.

Kaabi dismissed suggestions that pipelines through neighbouring countries could provide a practical alternative to exports through the Strait of Hormuz. While thanking neighbouring countries for offering access to their territories, he said Qatar had rejected the option on commercial and technical grounds.

Tributes and messages of condolence have poured in following the death of Sheikh Ahmed bin Rashid Al Maktoum, with UAE leaders remembering his decades of public service and contributions to the country’s development. Dubai has declared 10 days of official mourning, with flags to be flown at half-mast across the emirate.

His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, led the tributes to his younger brother, sharing a deeply personal message on X.

“May God have mercy on Sheikh Ahmed bin Rashid Al Maktoum… May God have mercy on you, my brother… You have settled with a Generous and Great Lord… You are absent from our eyes but not from our prayers and hearts, O Ahmed.

“May God make you dwell in the vast expanses of His Paradise… and inspire us and your loved ones with patience and solace… And to God we belong, and to Him we shall return,” Sheikh Mohammed wrote.

Read: Sheikh Ahmed bin Rashid: His life and legacy

UAE President pays tribute

UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan extended his condolences to Sheikh Mohammed and the Al Maktoum family, while highlighting Sheikh Ahmed’s contribution to the UAE since the country’s formation.

In a post on X, Sheikh Mohamed said Sheikh Ahmed’s achievements would remain in the country’s memory and that his national contributions bore testament to a life of giving. He prayed for mercy and forgiveness and for his family to be granted patience and solace.

The UAE Presidential Court also issued a statement mourning Sheikh Ahmed, extending its condolences to Sheikh Mohammed and the Al Maktoum family and praying for mercy and forgiveness for the deceased.

Sheikh Hamdan remembers a ‘dear’ family member

His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister and Minister of Defence, also took to X to mourn his uncle, describing the loss as the passing of a dear member of the family.

Sheikh Hamdan said Sheikh Ahmed would “remain in hearts, memory, and prayers”, while praying for him to be granted mercy and a place in Paradise. He also prayed for patience and solace for the people of Dubai and the wider UAE.

Sheikh Maktoum recalls contribution to UAE Armed Forces

His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance, remembered Sheikh Ahmed’s contribution to both Dubai and the UAE, including his role in the establishment of the UAE Armed Forces.

“The people of Dubai loved him and he loved them,” Sheikh Maktoum said in his tribute on X, adding that Sheikh Ahmed’s memory would remain in the hearts of those who knew him. He said that while Sheikh Ahmed was gone from sight, he would remain in the family’s hearts and prayers.

Sheikh Mansour and Sheikh Ahmed bin Mohammed pay tribute

His Highness Sheikh Mansour bin Mohammed bin Rashid Al Maktoum, President of the UAE National Olympic Committee and Chairman of the Dubai Sports Council, also paid tribute on X, saying Sheikh Ahmed was being bid farewell with prayers and fond remembrance. He prayed for mercy and for patience and solace for his family.

His Highness Sheikh Ahmed bin Mohammed bin Rashid Al Maktoum, Second Deputy Ruler of Dubai and Chairman of the Dubai Media Council, similarly offered prayers for Sheikh Ahmed, asking God to grant him mercy and forgiveness and to reward him for the good and generosity he had shown during his life.

Condolences also came from elsewhere in the UAE and the wider region. The Ruler’s Court in Sharjah extended its condolences to Sheikh Mohammed, the Al Maktoum family and Sheikh Ahmed’s loved ones, while Oman’s Sultan Haitham bin Tarik sent a cable of condolences to the Dubai Ruler following his brother’s death.

Sheikh Ahmed, who died aged 76, served as Deputy Chairman of Dubai Police and Public Security and had longstanding involvement across the UAE’s military, business and sporting sectors. He was particularly closely associated with Al Wasl Sports Club and the development of horse racing in the UAE.

Sheikh Ahmed bin Rashid Al Maktoum, who passed away on Monday, September 21, aged 76, was the younger brother of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai. He was the fourth and youngest son of the late Sheikh Rashid bin Saeed Al Maktoum.

Sheikh Ahmed was Deputy Chairman of Dubai Police and Public Security, while his career also encompassed military service, business, real estate and several of the UAE’s major sporting institutions.

Military and public service career

Sheikh Ahmed graduated from the Royal Military Academy Sandhurst in the UK before joining the Central Military Command in Dubai. He subsequently became its Commander-in-Chief and oversaw the development and modernisation of the facility into one of the UAE’s leading military bases.

He later served as Deputy Chairman of Dubai Police and Public Security, giving him a longstanding role within the emirate’s security establishment.

Business and real estate interests

Beyond his public service responsibilities, Sheikh Ahmed held prominent positions in Dubai’s business and property sectors. He served as group chairman of A.R.M. Holding and chairman of Dubai Real Estate Centre, with his interests spanning real estate and investments.

His business activities formed another dimension of a career that developed alongside Dubai’s transformation into an international business, investment and real estate hub.

Sheikh Ahmed’s longstanding connection with Al Wasl

Sport was a major part of Sheikh Ahmed’s life, with his name particularly closely associated with Al Wasl Sports Club. The club traces its beginnings to 1960, when it was known as Zamalek and operated from a small house in Za’abeel. Sheikh Ahmed became involved with the club during its formative years and formed its first board of directors in 1962.

He maintained his association with Al Wasl for decades, serving as its president and becoming one of the central figures in the club’s development. Under his patronage, Al Wasl developed into one of the UAE’s best-known sporting institutions, building a significant following both domestically and across the Gulf.

Sheikh Ahmed’s sporting interests extended beyond football. He played a major role in establishing Dubai International Marine Club and became its first chairman in 1988. The club subsequently became the first organisation of its kind in the Middle East and Africa to become a member of the Union Internationale Motonautique (UIM).

A major figure in UAE horse racing

Sheikh Ahmed was also one of the most prominent figures in UAE thoroughbred horse racing. In the early 1990s, he established Jebel Ali Racecourse as part of efforts to promote horse racing in the UAE and also launched initiatives including Al Adiyat and the Dubai Horse Racing Centre to support the industry.

His influence extended well beyond the UAE through the international success of horses carrying his colours. Among the best known was Mtoto, whose major victories included the King George VI and Queen Elizabeth Stakes, the Coral-Eclipse and the Prince of Wales’s Stakes. Wassl was another significant horse associated with Sheikh Ahmed, winning the Irish 2,000 Guineas.

The scale of his involvement in racing is reflected in Emirates Racing Authority records. Sheikh Ahmed recorded 614 wins from 4,475 runs as an owner, representing a career strike rate of 13.7 per cent. During the 2025/26 UAE racing season alone, his horses recorded 28 victories from 158 runs.

Dubai declares 10 days of mourning

Sheikh Ahmed passed away on Monday morning, September 21. The Court of Sheikh Mohammed announced 10 days of official mourning in Dubai, with flags to be flown at half-mast across the emirate during the period.

Sheikh Mohammed paid tribute to his younger brother following his death, saying: “You are absent from our eyes but not from our prayers and hearts”. He also prayed for Sheikh Ahmed to be granted a place in Paradise and for patience and solace for his family and loved ones.

Sheikh Ahmed leaves a legacy spanning several areas closely connected with Dubai’s development over more than five decades — from military and public security service to business, real estate, football, marine sport and horse racing.