
A sharp decline in tourism in Petra… Al-Buraizat: Hotels closed and hundreds of employees laid off from tourism facilities.
Furthermore, Al-Braizat indicated that the conflict in Gaza has significantly impacted incoming tourism, noting that 87% of Petra's visitors in 2023 were foreigners.
He warned that marketing efforts in Europe and other regions would be ineffective amid regional tensions. Regarding nationalities that visit most, he clarified that Russians rank second after Americans in visiting Petra this year, followed by the French, then Italians, British, and Spaniards, stressing the importance of diversifying targeted global tourism markets to compensate for the current downturn.
Hotel occupancy rates are only at 5%. For his part, the Vice President of the Jordanian Hotels Association, Hussein Hilalat, mentioned that the Ministry of Tourism's claims of growth in the sector 'have not manifested at all in reality,' asserting that Madaba, Petra, and Wadi Rum are the most affected areas by the decline in tourism activity. He noted that the Ministry of Tourism had promised the return of low-cost flights in October, but low bookings might prevent this from happening.
He pointed out that there are countries suffering from regional repercussions, like Egypt, but they still receive tourists, indicating that an alternative plan is needed to rescue the tourism sector.
Hilalat confirmed that hotel prices in Petra are very low, but demand is almost nonexistent, mentioning that the hotel occupancy rate does not exceed 5% in the first half of the current year, a figure which he described as alarming.
The situation in Petra is 'very poor.' In turn, the President of the Petra Hotels Association, Abdullah Al-Hasanat, described the situation in Petra as 'very poor,' explaining that communication with the Ministry of Tourism has reached a 'dead end,' despite the worsening crisis. He criticized the 'Jordan Our Paradise' program, arguing that allocating 20,000 visitors to Petra over just five days is not a sustainable solution for operating hotel establishments. He noted that more than 700 employees were recently laid off from Petra hotels, indicating that the conditions for hotels are 'very difficult,' and that 91 hotels in the city are mostly owned by local residents, which increases the local harm.
Tourism is a victim of regional tensions. The Chairman of the Economic and Investment Committee in Parliament, Khaled Abu Hassan, confirmed that Petra is the primary tourist destination in Jordan, but today it is among the most affected areas by the repercussions of regional conditions. He pointed out that the Ministry of Tourism acknowledges the existence of a 'real problem' in the city, emphasizing that the cessation of low-cost flights due to regional tensions has played a key role in diminishing tourism movement. He indicated that the Israeli-Iranian conflict, which coincided with the start of the tourist season, has significantly affected the tourism sector this year.
الوسوم
نسخ الرابط
تم نسخ الرابط
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Al Bawaba
2 hours ago
- Al Bawaba
Adnoc Distribution Delivers Strong H1 2025 Results With 12% Net Profit Growth
ADNOC Distribution (ISIN: AEA006101017) (Symbol: ADNOCDIST), the UAE's largest fuel and convenience retailer, today reported double-digit growth in its EBITDA and net profit for the first half of 2025, exceeding analyst expectations. The Company achieved its highest-ever first-half EBITDA of $566 million, up 10.0% year-on-year (YoY), driving a 12.2% YoY increase in net profit to $358 million. The Company also achieved record first-half fuel volumes of 7.62 billion liters, up 5.6% strong H1 performance marks a key milestone in ADNOC Distribution's five-year growth strategy, which aims to deliver EBITDA growth through key strategic initiatives and focus areas by 2028, driving long-term value creation and positioning the company for sustained growth. Bader Saeed Al Lamki, CEO of ADNOC Distribution, said: 'Our strong H1 2025 results demonstrate the successful execution of our 2024-28 growth strategy, driven by operational excellence and customer-focused innovation. The sustained growth in EBITDA and net profit highlights our ability to scale effectively, drive value creation, and expand our leadership in mobility and convenience retail. By leveraging advanced technologies, unlocking new operational efficiencies, and bringing our commitment to quality to more communities than ever before, we are well-positioned to deliver sustainable, long-term growth and superior returns for our shareholders.'ADNOC Distribution's non-fuel retail business continues to drive strong growth, with a 14.9% YoY increase in non-fuel retail gross profit and a 10.4% YoY rise in transactions for the first half of 2025. This continued outperformance of non-fuel retail over fuel retail reinforces the Company's strategic focus on diversifying revenue streams and capturing growing demand for convenience services. In addition, ADNOC Rewards, the UAE's leading fuel and convenience loyalty program, grew by 19.5% YoY to nearly 2.5 million Distribution continued its strategic network expansion, adding 47 new service stations in the first half of 2025, bringing its total network to nearly 940. A majority of the new stations are located in Saudi Arabia, where the Company is successfully leveraging its CAPEX-light Dealer Owned-Company Operated (DOCO) business model, which is optimized for sustainable growth. The DOCO model has enabled ADNOC Distribution to double its Saudi network YoY, from 69 to 140 stations. Building on this momentum, the Company has revised its expansion guidance upwards to 60-70 new stations by the end of 2025, with 50-60 of these located in Saudi Arabia. This strategic expansion strengthens ADNOC Distribution's regional footprint, enabling it to capitalize on the growing demand for mobility and convenience retail, fueling its growth trajectory and enhancing shareholder value in line with its strategic May 2025, ADNOC Distribution launched the Voyager lubricant line nationally across Egypt, expanding its distribution to third-party retail stores for the first time. The Company has set a target of 3,000 points of sale in Egypt by the end of 2026, further strengthening its regional presence. Egypt remains a core focus market for ADNOC Distribution, as the Company continues to expand its global footprint. ADNOC Voyager, the UAE's number one lubricant brand by market share, is now exported to more than 47 countries around the ADNOC Distribution's E2GO fast- and super-fast EV charging network reached a significant milestone in H1 2025, with over 300 charging points now installed across the UAE. This underscores the Company's commitment to sustainable mobility and clean energy solutions, aligning with its target of growing the network to 500+ charging points by 2028. The Company is on track to meet its target of adding 100 new charging points in 2025, reinforcing its strategic focus on future-proofing its business and strengthening its position as a leader in sustainable mobility Distribution is harnessing advanced AI technologies to drive strategic growth and operational efficiency. By leveraging innovations such as predictive fuel demand models, intelligent assortment, and hyper-personalized offerings, the Company is transforming its operations while enhancing customer satisfaction across its value chain. These initiatives are integral to ADNOC Distribution's broader strategy of future-proofing its business, supporting sustainability goals and enhancing its competitive edge in an increasingly digital and data-driven part of its digital transformation, ADNOC Distribution deployed MEERAi, ADNOC's AI-powered board advisory tool, at its most recent Board meeting. Designed for executive use, MEERAi delivers real-time insights, enabling faster, data-driven robust net debt to EBITDA ratio of 0.80x at the end of H1 2025, the Company remains committed to its dividend policy, ensuring clear visibility on returns. ADNOC Distribution expects an annual payout of $700 million (at 20.57 fils per share) or a minimum of 75% of net profit, whichever is higher, through 2028. At a share price of 3.70 as of 6 August 2025, this represents an annual yield of nearly 6%. A dividend of $350 million for H1 2025 is expected to be distributed in October 2025, subject to Board approval. In alignment with its five-year growth strategy, ADNOC Distribution is focused on maximizing returns by driving innovation, unlocking incremental value from its assets, meeting growing fuel and non-fuel demand in the UAE, and accelerating disciplined regional and international growth. With an annual CAPEX commitment of $250-$300 million through 2028, the Company's resilient business model and clear growth strategy position it for sustained momentum throughout the second half of 2025 and beyond.


Al Bawaba
2 hours ago
- Al Bawaba
Emaar's H1 2025 Property Sales increased 46% to reach ~AED 46 billion (US$ 12.5 billion); Backlog Increased by 62% to AED 146.3 billion (US$ 39.8 billion)
Emaar Properties PJSC (DFM: EMAAR) has once again delivered a robust quarterly performance. Building on the solid foundation set in Q1 2025, the company reported sustained growth across all core business segments in the second quarter. The continued strength in property sales, a growing revenue backlog, and improved profitability reflect Emaar's focused strategy, strong brand equity, and the enduring demand for its master-planned communities and lifestyle offerings. Key Highlights of the H1 2025 Results: • Sales Growth: Emaar reported property sales of ~AED 46 billion (US$ 12.5 billion) in H1 2025, representing an increase of 46% compared to H1 2024 and surpassing previous sales records. This performance reflects continued investor confidence and demand across our projects. • Backlog Growth: Revenue backlog from property sales grew to AED 146.3 billion (US$ 39.8 billion) as of 30 June 2025, representing a 62% increase year-on-year, further reinforcing the company's future revenue visibility. • Revenue Growth: Revenue increased to AED 19.8 billion (US$ 5.4 billion), marking a growth of 38% over the same period last year, driven by robust performance across development, retail, hospitality, and international operations. • Profitability: Emaar reported an EBITDA of AED 10.4 billion (US$ 2.8 billion), up 30% year-on-year, with a healthy margin of over 52%. Net profit before tax increased to AED 10.4 billion (US$ 2.8 billion), recording a growth of 34% compared to same period last year. • Customer Satisfaction: Emaar continues to lead in customer experience by maintaining excellence in product quality, design, and community living. • Credit Rating: Following the upgrade in Emaar's credit rating by S&P Global to BBB+, in Q2 2025 Moody's has also raised Emaar's credit rating to Baa1, both with stable outlooks. These upgrades reinforce the strength of our strategy, operational excellence, and sustained performance. • Focus on Talent Development: Emaar strengthened its commitment to Emirati talent through the launch of its first Youth Council, the rollout of Focused Mentorship 3.0, and continued sponsorship of professional certifications such as the CFA — all aimed at developing a future-ready workforce. • Cost and Efficiency Focus: The company maintains a strong focus on managing costs efficiently while maximising value and performance across all business lines. • Sustainability Initiatives: The company is advancing its ESG agenda, focusing on energy efficiency, responsible sourcing, and circularity, building on its upgraded ESG rating from MSCI. Mohamed Alabbar, founder of Emaar, commented: "Numbers alone don't tell the full story. Behind every sale, every project, every community, there's intent. There's a team asking: how can we do better? How can we make someone's everyday more meaningful? first half of 2025 reflects that mindset. The focus goes beyond meeting targets to creating lasting impact and fostering stronger connections that inspire continuous growth." UAE Build-To-Sell Property Development Emaar Development PJSC (DFM: EMAARDEV) sustained its strong momentum in the first half of 2025, delivering impressive results in both property sales and construction progress. The UAE development businesses witnessed exceptional growth in H1 2025, with 25 new project launches across prime master communities, property sales reached AED 40.6 billion (US$ 11.1 billion), reflecting a 37% surge over the same period last year. Emaar Development reported revenue of ~AED 10 billion (US$ 2.7 billion), achieving a growth of 35% year-on-year, and a net profit before tax of AED 5.5 billion (US$ 1.5 billion), up by 50% compared to H1 2024. The consolidated revenue of Emaar Properties from its property development business in the UAE during H1 2025 increased to AED 13.5 billion (US$ 3.7 billion), up 50% from same period last year. Revenue backlog from UAE developments reached AED 128.6 billion (US$ 35 billion) as of 30 June 2025, marking a 50% increase over H1 2024 and underscoring sustained market interest in premium lifestyle offerings across Dubai. Shopping Malls, Retail, and Commercial Leasing Emaar's shopping malls and leasing portfolio delivered a strong performance with revenue of AED 3.2 billion (US$ 871 million) in H1 2025, up 14% year-on-year, and EBITDA of AED 2.8 billion (US$ 762 million), an increase of 18% compared to H1 2024. This growth was driven by continued growth in tenant sales and sustained healthy occupancy across key assets resulting in increased rental income. As of 30 June 2025, our mall assets maintained an average occupancy of 98%. International Development Emaar's international operations recorded property sales of AED 5.3 billion (US$ 1.4 billion) in H1 2025, marking an increase of 200% over H1 2024 driven by continued demand across key markets, and revenue reached to AED 1 billion (US$ 272 million), up 26% compared to the same period last year. The performance of international operations was primarily driven by strong demand for real estate assets in India and Egypt. Revenue from International real estate operations contributed approx. 5% of total revenue of Emaar in H1 2025. Hospitality, Leisure, and Entertainment Emaar's hospitality, leisure, and entertainment businesses recorded revenues of AED 2.1 billion (US$ 572 million), supported by strong tourist activity and growing domestic demand. Emaar's UAE hotels achieved an average occupancy rate of 80% in H1 2025, compared to 78% in the first half of 2024. The company added 2 hotels featuring over 600 keys in the first half of 2025, expanding its portfolio and strengthening its presence in the sector. Recurring Revenue Emaar's diverse and sustainable recurring revenue-generating portfolio, encompassing malls, hospitality, leisure, entertainment, and commercial leasing, achieved strong results in H1 2025. The portfolio recorded a revenue increase of 15%, reaching AED 5.3 billion (US$ 1.4 billion) during H1 2025, and an EBITDA of 4.1 billion (US$ 1.1 billion) achieving a growth of 16% compared to the same period last year. This portfolio continues to provide stable income streams and robust cash flows for Emaar. EBITDA from this portfolio constituted 40% of Emaar's total EBITDA in H1 2025.


Al Bawaba
2 hours ago
- Al Bawaba
Graduation of a new cohort from the 'Digital Upskilling and Employment Program'
Orange Jordan, in the presence of H.E. Samira Al-Zoubi, Secretary General of the Ministry of Digital Economy and Entrepreneurship, celebrated the graduation of the sixth cohort from the Coding Academy at the Orange Digital Center in Amman. This also marks the second cohort of the 'Digital Upskilling and Employment Program' scholarship. The program is funded by the Ministry of Digital Economy and Entrepreneurship under the 'Youth, Technology, and Jobs' Project (YTJ), and is implemented by the Digital Skills Association (Digiskills). A total of 49 female and male students completed this cohort, following the graduation of the first cohort earlier this year, bringing the total number of program graduates in Amman to 100 youth, of whom 33% are women. For four months and 640 training hours, the participants were equipped with both technical and life skills to enhance their readiness for the job market. The program has proven its effectiveness, achieving a 100% graduation rate with no dropouts. To date, around 50% of the students have secured employment opportunities, a percentage that is expected to increase in the coming months. Additionally, the graduates supported 25 startups by developing websites for them during their practical training. The Secretary General of the Ministry of Digital Economy and Entrepreneurship, H.E. Samira Al-Zoubi, expressed the Ministry's pride in funding and supporting the 'Digital Upskilling and Employment Program' scholarship under the 'Youth, Technology, and Jobs' Project. She emphasized that this reflects the Ministry's commitment to empowering Jordanian youth with digital skills that enable them to enter the job market with confidence and competence. She added that such programs represent genuine career pathways rather than just training stops, as the Ministry continues to collaborate with its partners to create employment opportunities, support entrepreneurs, and foster innovation that contributes to building a competitive digital economy led by Jordanian youth. From her side, Amira Qarqash, Digital Education and Skills Development Manager at YTJ, emphasized that investing in youth is an investment in Jordan's future, and that empowering them with digital skills is key to unlocking employment opportunities and driving economic growth. This program stands as a living example of effective collaboration between the public and private sectors and civil society institutions to build a capable generation ready to lead change. The Chief Corporate Communication & Sustainability Officer at Orange Jordan, Eng. Rana Al-Dababneh expressed her pride in the partnership with the 'Digital Upskilling and Employment Program' scholarship and its achievements, praising the 'Champions of Change' from this cohort and those before them. She added that Orange Jordan, through the Coding Academy at the Orange Digital Center, continues to empower Jordanian youth with the knowledge and skills necessary to build their future. She highlighted that since its launch, the Coding Academy has graduated over 1,000 students, with more than 80% of them joining the job market, confirming the effectiveness of the training model, which integrates technical skills, projects, language, life skills, and practical training. Concurrently with the graduation ceremony, the second specialized job fair was held to connect graduates with companies and institutions seeking qualified youth talent. This provided real opportunities for them to enter the job market and embodied the integration between training and employment, which is one of the program's key objectives.