logo
African Union Commission (AUC) Chairperson met with H.E. Mohamed Salem Al-Rashedi, the United Arab Emirates (UAE) Ambassador to Ethiopia

African Union Commission (AUC) Chairperson met with H.E. Mohamed Salem Al-Rashedi, the United Arab Emirates (UAE) Ambassador to Ethiopia

Zawya10-04-2025

The Chairperson of the African Union Commission, H.E. @ymahmoudali, met with H.E. Mohamed Salem Al-Rashedi, the UAE Ambassador to Ethiopia, to explore ways to further deepen collaboration between the African Union and the United Arab Emirates. They discussed enhancing UAE investments in key sectors across Africa, and the Chairperson requested for the UAE's support for AU-led peace and stabilisation initiatives.
Ambassador Al-Rashedi reaffirmed the UAE's continued commitment to AU-UAE cooperation and conveyed a formal invitation from his government for the Chairperson to visit the UAE.
Distributed by APO Group on behalf of African Union (AU).

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

President Sheikh Mohamed shares Eid greetings in phone call with Syrian President
President Sheikh Mohamed shares Eid greetings in phone call with Syrian President

The National

time9 hours ago

  • The National

President Sheikh Mohamed shares Eid greetings in phone call with Syrian President

President Sheikh Mohamed exchanged Eid Al Adha greetings with Syrian President Ahmad Al Shara during a phone call. Both leaders expressed their wish that the occasion will help bring peace and prosperity to their people and to both countries, the state news agency Wam reported on Sunday. They also spoke of their hopes for continued development and growth, as well as lasting security, stability and well-being across the Muslim world and wider international community.

Hajj 2025: UAE leaders congratulate Saudi King on successful season
Hajj 2025: UAE leaders congratulate Saudi King on successful season

Khaleej Times

time9 hours ago

  • Khaleej Times

Hajj 2025: UAE leaders congratulate Saudi King on successful season

As the wrapping up of Hajj 2025 season nears, UAE leaders have expressed their congratulations to Saudi King Salman bin Abdulaziz on the success of organising the pilgrims' journey to the Muslim holy sites. This year, more than 1.6 million Muslims are performing the sacred pilgrimage, with majority of them from outside Saudi Arabia, according to the Ministry of Hajj and Umrah. UAE President Sheikh Mohamed bin Zayed Al Nahyan has sent a message to the Custodian of the Two Holy Mosques to congratulate him on the successful season. Sheikh Mohamed expressed "his sincere congratulations on the success of the Hajj season this year, which was achieved by the grace of Allah the Almighty, and thanks to the generous care of the Custodian of the Two Holy Mosques, his wise government and its institutions, to ensure that pilgrims can perform their rituals in tranquillity and safety". Similar messages were sent by Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, and Sheikh Mansour bin Zayed Al Nahyan, Vice President, Deputy Prime Minister and Chairman of the Presidential Court. Sheikh Dr Sultan bin Muhammad Al Qasimi, Supreme Council Member and Ruler of Sharjah, Sheikh Humaid bin Rashid Al Nuaimi, Supreme Council Member and Ruler of Ajman, Sheikh Saud bin Saqr Al Qasimi, Supreme Council Member and Ruler of Ras Al Khaimah, Sheikh Hamad bin Mohammed Al Sharqi, Member of the Supreme Council and Ruler of Fujairah, and Sheikh Saud bin Rashid Al Mualla, Supreme Council Member and Ruler of Umm Al Quwain also congratulated the Saudi king on the occasion. After a year that saw fatalities because of heat during Hajj, the kingdom has imposed higher penalties this year for anyone attempting to perform Hajj without a permit, including fines of up to 20,000 Saudi Riyals, arrest, and deportation. The kingdom also suspended short-term visas for 14 countries earlier this year, and security personnel can be seen across holy sites in Makkah.

Rising influx of super-rich spurs Dubai luxury property market surge
Rising influx of super-rich spurs Dubai luxury property market surge

Khaleej Times

time11 hours ago

  • Khaleej Times

Rising influx of super-rich spurs Dubai luxury property market surge

Dubai's luxury real estate sector is enjoying a spectacular boom, turbocharged by a rising influx of global high-net-worth individuals (HNWIs) relocating to the city. Among the most prominent beneficiaries of this surge are Sobha Realty, Emaar, Nakheel, Damac and Condor Developers. This trend underscores Dubai's transformation into a top destination for wealth migration and investment. A combination of tax-friendly policies, political stability, a world-class lifestyle, and high asset yields is attracting record numbers of international investors — particularly from Europe. In May, Dubai's real estate market continued to witness unprecedented growth, smashing records with Dh66.8 billion in sales, a 49.9 per cent surge from the previous year, according to fäm Properties. Despite concerns of a potential price correction, the market's fundamentals remain rock-solid, with an undersupply of office space and a steady influx of high-net-worth individuals driving sustained growth 'European investors are entering the market in large numbers, seeking stability, growth, and a low-tax environment. This has significantly bolstered sales and investment in projects like Golf Links 18,' said Vidhyadharan Sivaprasad, chairman and CEO of Condor Developers, whose flagship project, Golf Links 18 at Dubai Sports City, has already sold nearly 70 per cent of its premium golf-facing residences — even before completion. Set to be completed before Q1 2026, Golf Links 18 is a Dh300 million luxury residential development offering over 250 upscale units across a 47,000 square-foot plot. It boasts an impressive range of 18 premium lifestyle amenities including two infinity pools, a rooftop yoga deck, Sky Retreat, jacuzzi, open-air cinema, and fitness facilities such as a gymnasium, sauna, and steam rooms. The rapid uptake in sales reflects a broader pattern: Dubai's residential property market is seeing unprecedented demand from global elites. According to the Knight Frank Wealth Report, the UAE welcomed 7,200 new millionaires in 2024 alone, building on 4,700 in 2023 and 5,200 in 2022. As of December 2024, the country was home to approximately 130,500 dollar millionaires, ranking it as the 14th-largest wealth hub globally. Most of the inbound HNWIs came from India (31 per cent), followed by the Middle East (20 per cent), Russia and the CIS (14 per cent), and the UK and Europe (12 per cent). The typical non-GCC high-net-worth investor spends Dh134 million ($36.5 million) on Dubai property, either for residence or investment. Henley & Partners' 2024 Wealth Migration Report also names the UAE as the world's top destination for millionaire migration, with 6,700 new millionaires moving to Dubai last year alone. This influx is set to rise, with New World Wealth projecting a 39 per cent increase in the number of HNWIs in the UAE by 2026. Real estate remains the cornerstone of investment strategies for both wealthy individuals and families. 'Real estate continues to be a key asset class for UHNWIs. It provides long-term value, income generation, and capital preservation, especially in markets like Dubai,' notes the Knight Frank report. According to Sivaprasad, these trends have directly contributed to the significant increase in both asset values and rental yields across the emirate. 'We've seen property asset values rise by 20 to 30 per cent in the last year, depending on location. Rental yields are strong, averaging around 10 per cent,' he said. European buyers now form the majority of purchasers at Golf Links 18, led by investors from the UK, Russia, France, Slovakia, and the UAE. Many are relocating from countries with high taxes and cumbersome fiscal regimes, drawn by the UAE's business-friendly ecosystem and simple, low-tax regulations. 'The demographic of our buyers is rapidly diversifying,' Sivaprasad added. 'Dubai's global appeal, combined with strategic government initiatives, has reshaped the real estate landscape. It's no longer just a regional market — it's a global destination for wealth.' Condor Developers is poised to expand aggressively. With a project pipeline worth Dh2.5 billion across Dubai Islands, Al Majan, and Jumeirah Village, the company is gearing up to meet the continued demand from the rising tide of international investors, he said.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store