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Learn more about @Verizon's use of Gemini models in app development below.
https://www.tahawultech.com/industry/technology/gemini-ai-to-be-integrated-in-verizons-app/
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Khaleej Times
42 minutes ago
- Khaleej Times
Major UAE developers plan investment in US real estate
Major UAE developers are eyeing the lucrative $110.83 trillion real estate market in the United States, after their successes in the UAE market, which saw real estate transactions exceeded Dh893 billion in Dubai, Abu Dhabi, Sharjah and Ajman last year. Americans are also one of the top ten nationalities to invest in the UAE's real estate market where rental yield ranges between 7 to 9 per cent. The UAE is currently the top export destination for the US in the Middle East and North Africa (Mena) region. In 2023, its exports reached over $24.8 billion, up 19 per cent from the previous year. The UAE trades with all 50 states and supports 166,000 American jobs, according to Martin Kocher, Partner at Alternative Investments. 'For American investors, UAE real estate offers high yields, tax benefits, and diversification in a fast-growing market. Investing in UAE real estate provides capital security, global market access, and an inflation hedge,' Kocher said in his latest article. Abu Dhabi's Mubadala Investment Company has recently injected new capital into the US alternative real estate commercial lender 3650 REIT as part of a recent funding round. Although the financial specifics of Mubadala's investment have not been revealed, its sovereign wealth fund's website indicates that its real estate division has partnered with 3650 REIT and CalSTRS to commit up to $4 billion towards the US real estate credit markets. Several UAE developers have announced major foray in expanding into the US market, with a focus on developing homes, offices, mixed-use communities and data centres. Damac Group is investing heavily in US data centres, while IGO, MAG Group, Mulk Holding, Dar Global and Sobha Realty are targeting the luxury real estate sector, in different parts of the United States, especially in Texas. Sobha Realty has earlier announced developing a number of projects in the United States. 'The total value of the US housing market is approaching $50 trillion, having added $3.1 trillion in value over the past year. This represents a 6.6 per cent rise compared to June 2023 and is more than double the value of a decade ago. Residential real estate is expected to be the dominant segment of the US real estate market, with a projected market volume of $110.83 trillion in 2025,' said a recent report by Statista, a global market intelligence provider. Foreign investment in US real estate surpassed $1.2 trillion in the last 15 years, according to a report published by The Regulatory Review. Foreign buyers purchased 54,300 properties, worth $42 billion from April 2023 through March 2024, according to the US National Association of Realtors (NAR). Foreign buyers who resided in the US as recent immigrants or who were holding visas that allowed them to live in the U.S. purchased $22.6 billion worth of U.S. existing homes, representing 54 per cent of the dollar volume of purchases. Foreign buyers who lived abroad purchased $19.4 billion worth of existing homes, accounting for 46 per cent of the dollar volume. International buyers accounted for 2 per cent of the $2.1 trillion in total annual US existing-home sales during that period. Florida remained the top destination for foreign buyers, accounting for 20 per cent of all international purchases. Texas (13 per cent) and California (11 per cent) were second and third, respectively, followed by Arizona (5 per cent), Georgia, New Jersey, New York and North Carolina (4 per cent each), NAR said. Inventory in Miami-Dade County, which includes one of the most expensive metro markets in Florida and the country, rose by over 43 per cent in April compared to the same month a year earlier, according to data from Miami Realtors. This surge in for-sale homes could be a telltale sign of an impending cooldown in Miami-Dade's housing market, even as prices continue to rise in the county at a rate five times faster than the national level, according to Redfin data. The news comes as more than 100 real estate exhibitors from 15 countries including UAE are going to participate at the 2nd edition of America Property Exhibition, Summit and Gala Awards that will take place at the Miami Convention Centre from September 15-17, 2025. Organised by MIE Events and supported by Dubai Land Department, the 2nd America Property Exhibition (APEX) will see major UAE real estate developers; brokers and investors participate in the three-day event that will also focus on the cross-border investment in real estate and construction sector worldwide. APEX will attract more US investors and property buyers to buy properties in the UAE. The APEX takes place a few months after the UAE's recent announcement of investment outlay of $1.4 trillion in US economy in the next ten years in various sectors like AI infrastructure, semiconductors, energy, housing and American manufacturing. More than 3,000 professional realtors are expected to attend the three-day event in which more than 100 global real estate projects will be showcased where 150 experts and speakers will offer their insights and more than 100 VIP buyers will attend to invest in the projects that will be showcased at the APEX 2025 Exhibition and Conference. 'APEX is designed to be the leading international real estate platform in the US, promoting global investment, innovation, and partnerships in the property sector and we are delighted to announce the dates for the 2nd APEX this September, following our successful first edition held last year,' Zahoor Ahmed, Vice-President for Strategy and Partnerships at MIE Events, says. 'We are also happy to announce our partnership with the Dubai Land Department which has lent its strong support to the event that is expected to attract investment from the North American markets to the UAE's property market in the coming years. This way, APEX is going to play a crucial role in strengthening the US-UAE economic partnership.'
Khaleej Times
2 hours ago
- Khaleej Times
World shares trade near record highs, crude gains nudged by Middle East ceasefire
Global shares traded near record highs on Wednesday while crude oil prices gained and were on track to snap three straight sessions of declines as Middle East tensions eased, allowing markets to focus on U.S. inflation and prospects of interest rate cut. A ceasefire between Israel and Iran appeared to be holding, further reducing the risks of disruptions to the global oil trade. At a NATO summit on Wednesday, President Donald Trump basked in the quick end to the 12-day conflict, saying he now expected a relationship with Iran that would preclude rebuilding its nuclear programme. Federal Reserve Chair Jerome Powell resumes two days of Congressional testimony on Wednesday when he appears before the Senate Banking committee after scrutiny before a House panel on Tuesday. Benchmarks S&P 500 and Nasdaq were hovering near a fresh record high, helped by gains in technology and communication services shares. The Dow was trading lower. The Dow Jones Industrial Average fell 0.10% to 43,045.70, the SP 500 rose 0.17% to 6,102.26 and the Nasdaq Composite rose 0.44% to 19,999.51. European shares turned lower, dropping 0.5%. MSCI's broadest index of Asia-Pacific shares outside Japan finished up 0.8% overnight. MSCI's gauge of stocks across the globe rose 0.05% to 903.46, after hitting a fresh record high earlier in the session. "It looks like we've got a bit of a tug of war as to everything from Middle East tensions to how that's going to impact inflation, and then you've got oil prices firming up a little bit," said Sandy Villere, portfolio manager at Villere Co in New Orleans. "It would be interesting if oil gets weaker and inflation stays at bay and then you wrap all that into what Powell has been saying. It feels like the market is being pretty resilient." Brent crude futures were up 0.94% at $67.80 a barrel, while U.S. West Texas Intermediate (WTI) crude CLc1 was up 1%, to $65.04. Prices had plunged more than 10% over the two sessions after rallying to five-month highs after the U.S. attacked Iran's nuclear facilities over the weekend.
Khaleej Times
2 hours ago
- Khaleej Times
Trump signals US may need to ease Iran oil sanctions to help rebuild country
President Donald Trump said on Wednesday that the US has not given up its maximum pressure on Iran - including restrictions on sales of Iranian oil - but signaled a potential easing in enforcement to help the country rebuild. "They're going to need money to put that country back into shape. We want to see that happen," Trump said at a news conference at the NATO Summit when asked if he was easing oil sanctions on Iran. Trump said a day earlier that China can continue to purchase Iranian oil after Israel and Iran agreed to a ceasefire, but the White House later clarified that his comments did not indicate a relaxation of US sanctions. Trump imposed waves of Iran-related sanctions on several of China's independent "teapot" refineries and port terminal operators for purchases of Iranian oil.
