The changing face of real estate in the GCC

After a challenging decade for the GCC’s real estate industry, we look at what investors can expect from the market over the next 12 months

Understanding Saudi’s new tenders and procurement law: What are the main changes?

The law will regulate procedures of tenders and procurements carried out by government entities to ensure they are not influenced by personal interest

Dubai developer Emaar to build 3D printed home in Arabian Ranches III

The move is part of efforts to “build faster and at a lower cost”

Sheikh Mohamed bin Zayed to visit China next week

The visit comes a year after Chinese President Xi Jinping travelled to the UAE

Abu Dhabi shares surge on FAB’s strong earnings

First Abu Dhabi Bank reported a 5 per cent increase in net profit for the second quarter

Janet Jackson, 50 Cent to perform in Jeddah after Nicki Minaj pulls out

It is the first time Janet Jackson and 50 Cent will be performing in the kingdom

Amazon reveals best-selling products in the UAE on Prime Day

Prime members in the UAE purchased more than 21,000 litres of bottled water and over 8,500 kg of powder detergent

UAE’s largest lender First Abu Dhabi Bank posts 5% rise in Q2 profit

The lender said it expects mid-single digit profit growth and high-single digit growth in loans for 2019

Saudi eases restrictions on Umrah pilgrims traveling across the kingdom

Previously, visitors with Umrah visas were restricted to Makkah, Madinah and Jeddah

Dubai-based GEMS hires banks for $800m dual-currency bond

It has hired a group of banks to arrange fixed income investor meetings in London, the UAE and the US

Dubai lender Emirates NBD allowed to open 20 more branches in Saudi

Currently the bank has four branches in Saudi – two in Riyadh, one in Jeddah and one in Khobar

Saudi forces intercept another drone headed toward Jizan

On Tuesday, the Saudi-led coalition said it intercepted and downed three Houthi drones targeting two airports

Dubai court sentences British woman to 10 years in jail for drug smuggling

The 31-year-old was reportedly carrying e-cigarettes filled with cannabidiol (CBD) oil

Saudi approves new tendering and procurement law

The law introduces flexibility in the price of contracts and compensations in the case of increases in raw material prices, custom duties and taxes

Dubai’s Emirates NBD’s Q2 profit surges on asset sale, forex gains

Second-quarter net profit jumped 80 per cent to Dhs4.74bn

Saudi businesses can remain open 24 hours a day under new Cabinet decision

The new decision is hoped to help create thousands of jobs and stimulate the kingdom’s economy

Saudi King heads to $500bn mega city NEOM for holiday

Construction work on the $500bn NEOM project is slated to begin this year

Saudi forces intercept Houthi drones targeting two airports

The drones targeted civilians and civilian airports in Abha, Jizan and Najran, officials said

Pics: Masterplan approved for first phase of Oman’s mega economic city Khazaen

The 52 million sqm city is Oman’s largest public-private partnership project

Oman’s National Gas Company terminates CEO

Omani plastics packaging manufacturer OCTAL secures $625m in loans

OCTAL will use part of the bank financing to refinance some of its existing debt and to fund expansion

Bus carrying 52 pilgrims from Makkah crashes in the UAE

The accident took place on Abu Dhabi’s Sheikh Khalifa Bin Zayed Road

Saudi’s deputy minister of defence meets UN envoy to Yemen

Yemen’s warring parties agreed on Monday on new measures to enforce a ceasefire

Saudi forces destroy two Houthi drones, shrapnel damages vehicles, building

The drones targeted civilians and civilian targets in Khamis Mushait city

Emirates to launch daily services to Mexico City via Barcelona this year

The new route, which will begin in December, will mark the airline’s first service to Mexico

Emaar accounted for largest share of all property sales in Dubai in H1 – report

The developer recorded 4,756 transactions cumulatively worth Dhs13.1bn in the first half of the year

Abu Dhabi’s ADNOC hires BAML, Mizuho for natural gas pipelines deal

Sources estimated the value of the gas pipeline assets at around $12 to $15bn

Dubai International airport hit by brief power cut

The outage lasted for half an hour on Monday morning

PE firm Actis takes on management of two Abraaj funds

The transaction includes investments in 14 portfolio companies across the two funds

Saudi will support indebted Lebanon, say ex-PMs after meeting King

Soon there will be Saudi steps towards the Lebanese state, Najib Mikati said

New toll for trucks using Kuwait’s new Sheikh Jaber Causeway

The charge will be KD1 per tonne of the truck’s total weight