Athar – Saudi Festival of Creativity, the Kingdom’s largest gathering of the creative marketing industry, has revealed major highlights for its third edition, including a new venue, expanded programme, and an influential lineup of speakers.

Organised by Motivate Media Group and TRACCS, with the support of partners MBC Media Solutions (MMS) and flynas, the event will take place on 21–22 October 2025 at JAX District – Diriyah Biennale Foundation.

Athar Festival 2025 is expected to attract over 3,000 attendees across two days, featuring more than 150 speakers, 80 activations, and five content stages. The festival reflects Saudi Arabia’s growing role as a regional and global hub for marketing, communications, and creative industries.

“Since its debut in 2023, Athar Festival has grown alongside the Kingdom’s creative marketing landscape in both scale and reach. This journey has led to a third edition that is set to be our biggest, boldest, and most dynamic yet, a testament to how far we’ve come in such a short time and a reflection of the industry’s boundless potential. Today and for years to come, we’re proud to continue building a platform where talents from every background can connect, learn, and thrive,” said Ian Fairservice, chairman of Athar Festival and managing partner of Motivate Media Group.

Mohamed Al Ayed, vice chairman of Athar Festival and CEO of TRACCS, added: “Athar Festival is once more taking shape in Riyadh, and I could not be more excited to welcome local, regional, and international talent to this landmark celebration of creativity. With an exemplary lineup of speakers, industry experts, brands, sponsors, activations, and young talent, this year’s edition is set to ignite fresh ideas, spark greater collaborations that transcend borders, and unlock new opportunities for creative expression. Athar is not just a festival – it is a movement amplifying Saudi Arabia’s creative potential on the global stage and empowering a new generation of local talent to inspire a culture of creativity across the Kingdom.”

The 2025 edition will see participation from more than 80 sponsors and partners, with MMS returning as Growth Partner and flynas as Official Airline Partner. Other key partners include the Saudi Tourism Authority, Amazon Ads, Bloomberg Media, Omnicom Group, WPP, MCN, King Salman Park Foundation, Bassmat, Onsor Mosha, Sadu Media, and Stagwell.

Highlighting the importance of the partnership, Ahmed Al Sahhaf, CEO of MBC Media Solutions, said: “MBC Media Solutions proudly continues its partnership with Athar Festival, building on the success of the past two editions in achieving shared objectives and delivering exceptional creative experiences. This year, as the festival evolves, we are committed to broadening the scope of engagement with attendees, sharing our expertise with them, and presenting diverse media perspectives. We also aim to introduce the creative marketing community to innovative and renewed ways of reaching the right audience at the right time.”

The speaker lineup includes Mo Gawdat, bestselling author and former CBO at Google; Jo Malone, founder and creative director at Jo Loves; Ellie Norman, CMO of Formula E; and Ali Ali, co-founder and film director at Good People Films. Athar Festival 2025 will also introduce four new content streams: Creative Impact, Future Forward, Screen & Influence, and Luxury & Lifestyle.

The expanded 6,000+ sqm festival footprint will include the Activation Hall with 80+ brand activations, a Talent Hub for companies to engage with young professionals, a Ruwad Hub for entrepreneurs and emerging agencies, and a Networking Hub to connect regional and international industry leaders.

Content will run across five stages, including the Strategic and Spotlight Stages for keynotes and panels, the Saudi Gamer Arena focusing on esports, the Community Stage for workshops and community-led sessions, and the Courtyard Stage offering live music, wellness, and entertainment.

Returning initiatives include the Young Talent Academies and Maheerah Programme, both aimed at nurturing young professionals and empowering women in marketing. The Future CMO Academy will also return with an intensive programme for senior leaders.

The festival will conclude with the Athar Awards, celebrating outstanding work across more than 30 categories, including 14 new additions for 2025.

More details are available at atharfestival.com.

The GCC is at the forefront of a transformation unlike anything seen before, where futuristic visions are becoming tangible realities. Across the UAE, Saudi Arabia, and Qatar, governments are pouring billions of dollars into mega projects that promise to redefine economic growth, urban living, and environmental stewardship in the Middle East.

These projects are not mere infrastructural enhancements; they are a part of a broader strategy to diversify economies away from oil dependency, promote sustainability, and create vibrant communities that attract global talent and tourists alike. From a well connected transport systems to regenerative tourism and entertainment hubs, the GCC’s evolving skyline tells a story of innovation, and resilience.

Read more-Asian Paints Global CEO on CureAssure’s role in redefining sustainable construction in GCC

In this article, we explore ten developments driving the GCC’s next chapter, initiatives that showcase the power of planning and technology in building the cities and industries of tomorrow.

1. Etihad Rail: The UAE’s new lifeline for connectivity and growth

Imagine a platform stretching across the entire UAE, connecting bustling ports, industrial zones, and urban centers with efficiency. This is the promise of the Etihad Rail project, an infrastructure set to revolutionise the way people and goods move across the nation.

Spanning all seven emirates, the rail network is poised to become the backbone of the UAE’s logistics ecosystem, cutting transport times, lowering costs, and reducing environmental impact. “Etihad Rail is an economic artery that supports the UAE’s journey to the future,” said a senior official overseeing the project. “It embodies the spirit of the Union, fostering sustainability and seamless connectivity.”

Beyond its economic role, Etihad Rail symbolises national unity, tying together diverse emirates into one integrated transport system. As the trains glide across deserts and cities alike, the project reflects a vision of progress and sustainability, helping to ease road congestion and curb carbon emissions for generations to come.

2. THE LOOP: Dubai’s climate-controlled cycling revolution

Picture a 93-kilometre ribbon of urban paradise where pedestrians and cyclists glide in comfort, shielded from the desert heat by climate control. This is THE LOOP, Dubai’s answer to urban mobility and healthy living.

Designed to connect more than 3 million residents, THE LOOP will transform the city into a “20-minute city” where key services, parks, and neighborhoods are reachable by foot or bike. Its vision is bold: to make walking and cycling the primary mode of daily transport for over 80 per cent of Dubai’s residents by 2040.

In a region known for its car culture and extreme climate, THE LOOP’s temperature-regulated pathways and smart infrastructure represent a paradigm shift. This project is more than just a bike path; it’s a new lifestyle, championing wellness, sustainability, and urban design.

3. Dubai Metro Gold Line: Connecting the old with the new

As Dubai’s population balloons, so too does the demand for efficient public transit. Enter the Dubai Metro Gold Line, a new artery threading through some of the city’s most historic and rapidly developing areas.

Stretching from Al Ghubaiba in Bur Dubai to the communities of Business Bay, Meydan, and Dubailand, the Gold Line will relieve pressure on the busy Red Line while enhancing accessibility. For residents and visitors alike, it will be a sleek, modern corridor bridging the city’s past and future.

This expansion underscores Dubai’s commitment to tackling congestion and enhancing urban livability, while supporting the growth of new economic zones and tourism hotspots.

4. Urban Tech District: Dubai’s green innovation powerhouse

In the Al Jaddaf district, a new address for sustainable innovation is rising, the Urban Tech District. This carbon-neutral development will serve as a crucible for cutting-edge urban technologies aimed at addressing the complex challenges posed by urbanisation.

The district is designed to be a dynamic ecosystem, hosting startups, research centers, and venture capital firms dedicated to breakthroughs in zero-mile food production, renewable energy, water harvesting, and waste-to-energy solutions.

More than a tech park, it’s a living laboratory where the future of urban living will be tested and perfected. With plans to create 4,000 green jobs, the Urban Tech District is central to Dubai’s vision of becoming a global hub for sustainable innovation.

5. The Red Sea Project: A model for regenerative luxury tourism

Off Saudi Arabia’s western coast, a new kind of luxury resort is taking shape, one that celebrates nature while safeguarding it. The Red Sea Project is a solid effort to create a sustainable, regenerative tourism destination.

Phase One has already introduced five resorts alongside an international airport, setting the stage for 16 luxury hotels spread across islands and inland sites. By 2030, the project aims to house 50 hotels with 8,000 rooms, carefully calibrated to welcome no more than 1 million visitors annually, preserving the fragile coral reefs, mangroves, and desert landscapes.

A spokesperson for Red Sea Global summed it up: “The Red Sea will redefine sustainable travel, merging luxury with environmental stewardship.” It’s a blueprint for how tourism can coexist with conservation on a grand scale.

6. Dubai World Central: Building the world’s largest airport hub

Dubai’s ambition to dominate global air travel is embodied in Dubai World Central (DWC), also known as Al Maktoum International Airport.

Originally opened in 2013, DWC has grown from a cargo and charter hub into an aviation gateway.

With a future expansion plan unveiled in 2024, the airport will soon boast five runways and the staggering capacity to handle 150 million passengers annually, triple that of Dubai’s main airport today. Its long-term goal is 260 million passengers per year, supported by cargo capabilities exceeding 12 million tonnes.

This mega-airport will not only serve as a transit hub but also stimulate surrounding economic zones, creating a new ecosystem of commerce, logistics, and tourism.

7. Qiddiya City: Saudi Arabia’s playground for the future

Imagine a city where theme parks, sports arenas, and cultural venues collide. This is Qiddiya City, Saudi Arabia’s bold investment in entertainment and lifestyle as part of its Vision 2030 agenda.

Set against a backdrop of desert and rocky landscapes near Riyadh, Qiddiya aims to become the region’s entertainment capital, attracting millions of visitors and creating thousands of jobs.

More than fun and games, Qiddiya represents economic diversification and social transformation, bringing arts, sports, and leisure together to enhance quality of life and global tourism appeal. “Qiddiya isn’t just a city of attractions, it’s a city of dreams,” a project leader remarked.

8. Palm Jebel Ali: Dubai’s grand island of luxury and nature

Following a significant redesign, Palm Jebel Ali is Dubai’s most significant island development yet. Nearly twice the size of the famed Palm Jumeirah, this man-made development stretches nearly four miles long, with 17 fronds and a protective crescent shoreline that doubles as a vibrant promenade.

Residents will enjoy panoramic beach views, luxury villas with expansive windows, and a lifestyle built around health and wellness, walkable streets shaded by lush greenery, parks for recreation, and direct beach access.

Located near the ecological haven of the Jebel Ali Marine Sanctuary, Palm Jebel Ali embodies a delicate balance between luxury living and environmental mindfulness, making it a testament to Dubai’s evolving vision of sustainable urban growth.

9. Qatar’s North Field expansion: Powering the global energy transition

In the energy-rich Gulf, Qatar is doubling down on its gas production with the North Field East expansion project. Set to increase liquefied natural gas (LNG) output from 77 million to 126 million metric tons per year by 2027, this initiative is critical to meeting rising global energy demands.

The project, with phased production starting mid-2026, has already secured contracts with energy consumers in Europe and Asia, positioning Qatar as a cornerstone of energy security in a volatile world.

“Qatar’s expansion is a for global LNG supply,” said CEO Saad Al Kaabi, highlighting the country’s commitment to energy innovation and economic resilience.

10. Disney Magic on Yas Island: A New Era of Entertainment

The Middle East is about to welcome its first-ever Disney theme park resort on Abu Dhabi’s famed Yas Island, a landmark that signals the region’s rising clout in global entertainment.

Joining an already impressive roster of attractions including Ferrari World, Warner Bros. World, and SeaWorld, the Disney resort promises world-class experiences that will attract families and tourists from across the globe.

Though the opening date remains under wraps, the project symbolises more than fun; it heralds a cultural and economic milestone, further cementing Abu Dhabi as a destination for leisure and tourism.

Forging a future of innovation, sustainability, and growth

The GCC region is undergoing a transformation, driven by a portfolio of mega projects that are redefining the frontiers of urban development, tourism, transportation, and energy.

From the expansive network of Etihad Rail to the reimagined coastline of Palm Jebel Ali, each initiative forms a critical component of a broader strategic vision.

Collectively, these projects represent a decisive shift away from traditional hydrocarbon dependency, signaling a long-term commitment to innovation, environmental stewardship, and global integration.

Apple Inc. surged 12 per cent in August, its strongest monthly performance in over a year, following a robust earnings report that delivered double-digit growth across key segments. The tech giant posted its fastest revenue expansion since 2021, bolstered by a surprising 4 per cent rise in sales in Greater China, a region that has faced increasing scrutiny amid rising competition and regulatory pressure.

The rally brought much-needed relief to shareholders after a challenging period marked by sluggish device demand and intensifying global competition.

“Apple’s August rally is encouraging, but sustained growth will depend on consumer demand for the iPhone 17 lineup,” said Josh Gilbert, Market Analyst at eToro.

Read more-iPhone 17 rumours: What to know about features, possible price, release date

Apple’s next major catalyst is its highly anticipated product launch event in September, themed “Awe Dropping.” The company is expected to unveil the iPhone 17 lineup, which includes the ultra-slim iPhone 17 Air, billed as Apple’s thinnest iPhone to date, alongside the standard and Pro models.

Also on the docket are the Apple Watch Series 11, new AirPods Pro, and potential teasers of a foldable iPhone, a product that could signal Apple’s most significant design evolution in over a decade.

“The iPhone 17 launch will be critical in determining whether Apple can sustain its momentum,” added Gilbert. “AI will be a key theme, and investors will want clearer signs of monetisation as Apple looks to close the gap with rivals.”

Privacy-first AI: Apple’s unique play

While competitors like Google, Microsoft, and Samsung have pushed aggressively into generative AI, Apple has so far taken a more cautious approach. That may be changing.

The iPhone maker is expected to showcase a slate of AI-powered, on-device features across its ecosystem, aiming to differentiate itself through a privacy-first strategy. This approach could prove to be a long-term advantage, particularly as consumer concerns over data privacy continue to mount.

Apple’s AI roadmap has become a point of investor focus, with analysts speculating that the upcoming iPhone 17 could include advanced on-device AI tools for Siri, photo editing, and productivity, features that would help close the gap with more AI-forward rivals.

Apple’s September event comes amid a favorable macroeconomic backdrop. With the US Federal Reserve signaling a potential interest rate cut, consumer sentiment may get an added boost, a critical factor heading into the holiday quarter.

Market analysts point out that Apple shares historically rally ahead of product launches and often retreat afterward. However, a strong iPhone 17 reception, particularly in high-growth regions like India and China, could break the trend and ignite a new upgrade cycle.

Even as device sales fluctuate, Apple continues to benefit from its increasingly sticky services ecosystem, which includes iCloud, Apple Music, and the App Store. This has provided a reliable revenue cushion and reinforces Apple’s broader shift toward becoming more of a services-led tech platform.

Unmatched customer loyalty and consistent hardware-software integration remain core advantages that Apple is likely to lean into during the iPhone 17 rollout.

Apple reportedly eyeing major AI acquisitions

In a significant strategic shift, Apple has reportedly held internal discussions about acquiring French AI startup Mistral as well as Perplexity AI, according to a report by The Information, citing sources familiar with the matter. These potential moves mark a departure from Apple’s historically cautious M&A strategy.

CEO Tim Cook signaled last month that Apple is open to larger AI-related acquisitions to accelerate its product roadmap. The company has faced criticism for trailing rivals in the rollout of generative AI capabilities.

Reuters reported that Apple and Mistral did not immediately respond to requests for comment, and Perplexity, which is backed by Nvidia and Amazon founder Jeff Bezos, claimed it is unaware of any merger conversations involving its company, apart from its own acquisitions.

Mistral, valued at more than $6bn after a Series B round last year, is reportedly in talks to raise $1bn at a $10bn valuation, according to the Financial Times. Bloomberg also reported earlier this year that Apple executives held internal talks about potentially bidding for Perplexity.

(With inputs from Reuters)

The Middle East is accelerating investment in artificial intelligence (AI), hyperscale data centres, and digital megaprojects, creating an unprecedented surge in electricity demand. Khalid Salem, president for the Middle East & North Africa at Mitsubishi Power, spoke with us about how utilities and governments are preparing to meet this growth, the role of gas and hydrogen in the transition, and what a zero-ready energy system could look like.

Meeting exponential demand

“Energy demand is growing everywhere – after all we’re now living through the electrification of everything,” Salem said. “In the Middle East and North Africa (MENA), we are already seeing demand rise faster than ever, driven by growing population, economic boom, and to support the national developments plans drawn by countries, especially in the GCC.”

That baseline challenge has been amplified by a rapid rise in AI adoption and data centre development. “The International Energy Agency says the region’s power demand could double by 2030, which is a huge jump,” he added. “The core challenge in the UAE and the wider region has long been how to secure energy for the needs of today and tomorrow. This means ensuring enough and uninterrupted power supply while also meeting national sustainability targets on carbon emissions.”

IEA projections show global electricity usage from data centres reaching nearly 945 TWh by 2030, and the Middle East is emerging as a hotspot. “The Middle East is steadily positioning itself as a global data centre hub,” Salem noted. “IEA projects the region’s installed data centre capacity to almost triple to around 3.3 GW over the next five years. This will inevitably put greater demands on our power systems.”

Countries such as Saudi Arabia and the UAE are leading the way with large-scale expansion plans in which gas will continue to play a central role in the energy mix. “Our power systems must integrate new, intermittent and distributed sources of supply while balancing this supply with variable demand – it’s no easy task but the entire industry is straining every sinew to make it happen,” Salem said.

GCC grids under transformation

Asked whether national grids are equipped to handle smart city infrastructure, AI workloads, and peak loads, Salem said the sector is undergoing a deep transformation. “Power grids across the GCC are undergoing a transformational shift by unlocking new opportunities while navigating the challenges that come with rapid growth. The focus now is on building infrastructure, technologies, and partnerships necessary to meet soaring demand.”

Gas, he emphasised, remains the bedrock. “Across the GCC, gas provides the baseload, dispatchable power that is needed to respond to this growing but variable demand and will continue to do so for the foreseeable future.”

Reducing emissions without compromising reliability remains a balancing act. “Leaders and policymakers across the region have recognised the need to reduce emissions, evidenced in the national energy strategies in several MENA countries,” Salem explained. “However, this transition must be pragmatic: the black out in Spain this year was a stark reminder of the human and economic cost when power grids fail.”

He added: “Reducing emissions must go hand-in-hand with ensuring reliable power supply. That means taking a balanced approach where all technologies work together with gas playing a key role in ensuring energy security.”

Gas as the bridge fuel

For Mitsubishi Power, advanced gas turbine projects are central to this approach. “Gas is the bridge fuel in the energy transition. It’s more efficient and produces fewer emissions than heavy fuel oil and not only that, it is actually enabling the integration of new renewables by providing the base load, stability and inertia that intermittent renewables cannot.”

He pointed to several examples. In Saudi Arabia, Mitsubishi Power is supplying six state-of-the-art M501JAC gas turbines for the 3.6 GW Rumah-1 and Al-Nairyah-1 power plants. In the UAE, the company is helping power the future with the 2.4 GW Fujairah F3 GTCC plant, which will provide hydrogen-ready electricity to around 380,000 households. And in Bahrain, Mitsubishi Power recently delivered its hydrogen-ready M701JAC gas and steam turbines, producing 680.9 MW of on-site power generation for Aluminium Bahrain (Alba).

Read: Mitsubishi Power, ANRPC complete MENA’s first hydrogen boiler retrofit

Looking ahead, Salem sees hydrogen as critical to the sector’s decarbonisation. “Countries like the UAE, Oman, and Saudi Arabia have developed national hydrogen strategies and are emerging as global leaders in the space. At COP28 in Dubai, over 30 countries joined the Declaration of Intent on Hydrogen, aiming to accelerate hydrogen commercialisation.”

“In the short term, blending hydrogen with gas offers immediate benefits in terms of reducing emissions,” he explained. “All Mitsubishi Power turbines delivering across the region are hydrogen-ready and designed to enhance grid stability with renewables integration.”

Examples are already in play. In Morocco, Mitsubishi Power is supplying two M701JAC gas turbines for the Al Wahda Open Cycle Gas Turbine Power Plant. This peaker facility will help balance the country’s growing renewable energy resources by offering rapid response to grid fluctuations and ensuring a stable power supply.

“Our advanced gas turbines are engineered to co-fire hydrogen today, with a clear roadmap toward 100 per cent hydrogen combustion,” Salem said. “Ultimately, our approach enables a pragmatic pathway to a low carbon world, which leverages new and existing infrastructure to deliver a cleaner, more flexible energy future.”

Trials abroad reinforce this direction. “We recently successfully completed a second trial blending 50 per cent hydrogen and natural gas at Georgia Power’s Plant McDonough-Atkinson in Smyrna, Georgia and have also demonstrated 100 per cent hydrogen firing at our Takasago Hydrogen Park.”

Investment momentum

Salem confirmed that governments and private operators are increasing investment in turbine solutions. “There has indeed been an increased investment in gas turbines across the region, driven by the need for uninterrupted power generation to meet rising electricity demand, while delivering on long-term decarbonisation goals.”

National hydrogen strategies, clean fuel targets, and incentives are all helping accelerate this.

Asked how Saudi Arabia and the UAE can support digital megaprojects without straining sustainability or affordability, Salem pointed to hybrid energy models. “Both countries must continue investing in hybrid energy models that integrate renewables, lower emissions dispatchable power, long-duration storage, and hydrogen infrastructure.”

Localisation is also critical. Mitsubishi Power’s gas turbine assembly facility in Dammam not only supports Saudi Arabia’s localisation drive but also acts as a hub for technical training and workforce development. Today, over half of Mitsubishi Power’s workforce in Saudi Arabia is composed of Saudi nationals, a fact that Salem links to national ambitions in AI and data centre expansion.

Toward a zero-ready system

Finally, Salem described what a zero-ready system could look like: “Countries like the UAE and Saudi Arabia face several challenges as they work to build their net-zero-ready energy systems. These systems must deliver reliable, resilient power with the flexibility to meet fast-growing demand, while also advancing national goals around decarbonisation and energy leadership.”

“Mitsubishi Power is helping bring this vision to life by providing the technologies and partnerships that help meet demand while developing clean, secure, and future-ready energy systems for tomorrow.”

He added: “This direction is aligned with our own goals at Mitsubishi Heavy Industries (MHI) under ‘Mission Net Zero’, through which MHI has committed to cutting CO₂ emissions from its operations by 50 per cent by 2030 (compared to 2014), and to achieve net-zero emissions across its entire value chain, including customer use of our technologies by 2040.”

The UAE’s real estate sector continues to demonstrate robust performance in 2025, driven by the resilience of both oil and non-oil sectors alongside a surge in foreign investment inflows. Growth has been recorded across residential, commercial, and industrial property segments, positioning the market for sustained momentum throughout the year.

Latest reports from global real estate specialists confirm the sustainability of the UAE’s economic momentum in 2025, highlighted by the launch of major real estate projects, record-breaking sales figures, and rising occupancy and rental rates across multiple sectors, a WAM report said.

Read more-Why Abu Dhabi is the new hotspot for homebuyers

Ismail Al Hammadi, Founder and CEO of Al Ruwad Real Estate, highlighted the strength of the market: “Property transactions across all emirates demonstrate significant growth and sustained momentum, underscoring the sector’s strength and investor confidence.”

Al Hammadi pointed to Dubai’s property market as a particular standout. “Dubai’s real estate transactions continue to show remarkable growth, reflecting the emirate’s global appeal to investors. Some projects scheduled for delivery within three years sell out in just one or two weeks, something rarely seen anywhere else in the world.”

Saeed Abdulkareem Al Fahim, CEO of Stratum Owners Association Management, echoed this optimism. “The UAE property market is witnessing remarkable activity and growth, especially in Abu Dhabi and Dubai. Demand continues to increase across a wide range of properties, from luxury units to mid-range housing.”

Market highlights from CBRE and industry reports

According to CBRE’s UAE Real Estate Market Review Q2 2025, the sector’s resilience is supported by the country’s robust economy, an improved growth outlook, a rebound in oil production, and rising foreign investment.

Residential markets in Dubai and Abu Dhabi remain highly active, with strong off-plan launches underpinned by sustained investor demand. Office markets in both cities are also experiencing rising occupancy and robust rental growth. Meanwhile, the industrial sector is attracting increasing international investor and developer interest, particularly in key logistics assets, driving rental growth.

Dubai’s residential market continued its upward trajectory into July 2025, as reported by Betterhomes, which cited data from Property Monitor and client insights. The market is seeing rising transaction volumes and steady demand across both off-plan and secondary sales and rentals.

Supporting these observations, W Capital Real Estate reported that property sales in Dubai reached an unprecedented Dhs100bn from January 1 to March 4, 2025. This milestone was reached earlier than in previous years, March 22 in 2024 and April 11 in 2023, signalling accelerating market activity.

Dubai’s property sales grew by 40 per cent in the first half of 2025, reaching Dhs326.64bn compared to Dhs233bn in the same period last year. Knight Frank, a leading independent real estate consultancy, noted the historic pace with which Dubai surpassed Dhs100bn in sales by early March, emphasizing the emirate’s rising momentum.

Adding to Dubai’s global stature, the city retained its position as the world’s busiest market for homes priced above $10m for the second consecutive year in 2024. The emirate recorded 435 sales in this ultra-luxury bracket, almost equal to the combined total sales in London and New York.

Strategic initiative: First-time home buyer programme

In a move aimed at broadening access to homeownership, Dubai recently launched the First-Time Home Buyer Programme, marking a strategic milestone for the city’s real estate evolution. This initiative complements other innovations such as tokenised real estate and reinforces the government’s commitment to building a sustainable property market.

Led by the Dubai Land Department (DLD) and the Department of Economy and Tourism (DET), the programme is backed by 13 major developers and five banks. It offers first-time buyers priority access to new property launches priced up to Dhs5m, according to CBRE’s market review.

Available to both UAE nationals and residents, the programme is designed to stimulate end-user demand and encourage long-term occupancy. It seeks to rebalance the market, which has seen an increasing share of off-plan buyers who are non-residents in recent years.

Key incentives include preferential pricing, tailored mortgage solutions, and flexible fee payment options. These aim to ease affordability pressures following five consecutive years of solid price gains.

While the full impact is yet to be realised, industry experts expect the programme to encourage more residents to transition from renting to owning. This shift could stimulate demand for home acquisitions and potentially soften current leasing market dynamics, which have contributed to rising living costs across the emirate.

Balanced growth amid emerging challenges

The UAE’s economy continues to show strong momentum, with growth forecasts for 2025 upgraded amid a rebound in oil production, robust non-oil sector performance, and rising foreign investment. However, geopolitical tensions and global trade uncertainties pose potential downside risks.

Residential markets in Dubai and Abu Dhabi remain highly active, with off-plan launches in Q2 2025 backed by sustained investor demand that continues to support price growth. That said, early signs of moderation in sales and rental values are emerging in certain communities, suggesting a potential softening after years of rapid increases.

Office markets in both cities maintain high occupancy and strong rental growth, driven by limited new supply and steady demand from finance, technology, and other key sectors.

Tourism, a vital pillar of the UAE economy, continues to show year-on-year growth in visitor numbers. This supports strong hotel performances nationwide, reinforcing the sector’s role in economic diversification and non-oil growth.

The retail sector, however, is grappling with a shortage of available space across prime malls, resulting in continued rental growth. The limited pipeline for new retail supply suggests a sustained landlord’s market for the foreseeable future.

Meanwhile, the industrial sector remains resilient, with rising interest from international investors and developers. Prime logistics assets continue to experience rental growth, buoyed by the expanding role of the UAE as a regional logistics hub.