Latest news with #ABMajlis
Arabian Business
28-04-2025
- Business
- Arabian Business
AB Majlis podcast: RAKEZ chief reveals Ras Al Khaimah's ambitious growth plans amid Wynn Resort buzz
The upcoming Wynn Resort and Casino is just 'one of maybe 10 mega projects' transforming Ras Al Khaimah, according to RAKEZ Group CEO Ramy Jallad, who offered rare insights into the emirate's development strategy during an interview on the AB Majlis podcast. 'We've been a hidden gem,' Jallad told Arabian Business. 'The only aspect about it is that we are getting better and better at promoting ourselves, and we're out there now.' , establishing itself as the UAE's largest free zone by number of registered companies. 'Last year, we brought in more than 13,000 companies just in one year, and that was a record,' Jallad revealed, adding that the free zone's growth was well underway before the high-profile casino announcement that has recently thrust the emirate into the spotlight. The Wynn development is expected to bring 3 million visitors annually to Ras Al Khaimah, tripling the emirate's previous tourism targets. This surge is driving rapid growth that is outpacing infrastructure development. 'We're a little bit behind in [terms of] real estate, schools, and hospitals,' Jallad acknowledged, comparing the situation to Dubai's earlier growth challenges. 'These are good problems to have.' During the interview, Jallad highlighted that manufacturing, artificial intelligence, high-tech industries, and lifestyle services are seeing the strongest investor interest. India remains RAKEZ's largest source of investment, followed by China and European nations. 'Chinese companies… are thinking about going global and operating from outside of China,' he explained, noting that RAKEZ has opened offices in China and Germany, with plans for a U.S. presence. Among the less publicised developments, Jallad revealed plans for 'Tech Flex,' a specialised zone focused on design and technology industries, and 'RAK Central,' a new business park designed to foster networking and collaboration. 'We are creating those kind of new workspaces that allow people to network, integrate and create new business opportunities all at the same time,' Jallad said in the interview. RAKEZ attributes its success to offering cost-effective solutions, customised approaches for different industries, and comprehensive support services. 'We don't just sell them a package. We advise them on what's the best structure to set up their company,' Jallad explained. Tune in to AB Majlis every Monday To listen to the full episode and gain a comprehensive understanding of doing business in the Gulf region, visit our RSS feed or check out AB Majlis on Spotify, Apple Podcasts, and other platforms. Tune in every Monday for weekly episodes that will help you stay ahead of the curve and enrich your understanding of the Gulf region.
Arabian Business
21-04-2025
- Business
- Arabian Business
AB Majlis: 90% of Dubai property could face job losses in the next year, warns industry veteran
Dubai real estate's 'Blockbuster' moment? Ainsley Duncombe on why 90% of brokers could vanish in 2 years Around 90 per cent of real estate brokers in Dubai will not have jobs 'in their current format' within 12 to 18 months as artificial intelligence reshapes the industry, according to a veteran property broker. Ainsley Duncombe, founder of Off Market Listing Dubai, told Arabian Business' s AB Majlis podcast that technology would transform how agents operate in the emirate's booming property market. 'Tech is going to play a massive role in terms of real estate in the region and in Dubai. I would go as far to say 90 per cent of the real estate brokers will not have a job in its current format over the next 12 to 18 months,' Duncombe said. The property veteran, who has been in Dubai's real estate market for 17 years, compared the coming disruption to how Uber transformed the taxi industry, suggesting only high-end luxury segment agents would be least affected. 'There'll still be the 10 per cent of brokers that will continue to transact in a similar way to what they're doing now. That's more going to be in the luxury segment,' he added. Duncombe, previously international business director for Property Finder where he opened six markets across the Middle East, said AI would dramatically change buyer behaviour and broker operations. 'Moving forward, we're going to see a lot more educated consumer,' he said, explaining that property seekers would use AI to generate highly detailed property requirements rather than general enquiries that brokers typically handle. 'There's not a broker in the country, myself included, that can give you all the stats on 100 units, or 5,000 units or 50,000 units. There isn't anybody that can do it. AI is going to be able to do that,' Duncombe said. Despite predicting technological disruption, Duncombe dismissed claims that broker fees would disappear entirely, saying 'you are always going to need a broker' though their role would change significantly. He noted that Dubai continues to attract unprecedented wealth migration, with more enquiries from people looking to relocate than he has experienced in his 18-year career. Asked about emerging opportunities, Duncombe expressed optimism about Ras Al Khaimah's property market, where he has personally invested, and highlighted the exclusive World Islands development, describing it as 'a gated community in the ocean' just nine minutes by boat from mainland Dubai. Duncombe established Off Market Listing Dubai to specialise in properties not publicly listed on real estate portals, catering to high-net-worth individuals and celebrities seeking privacy in their property transactions. Tune in to AB Majlis every Monday To listen to the full episode and gain a comprehensive understanding of doing business in the Gulf region, visit our RSS feed or check out AB Majlis on Spotify, Apple Podcasts, and other platforms. Episodes are also available on: Tune in every Monday for weekly episodes that will help you stay ahead of the curve and enrich your understanding of the Gulf region.
Arabian Business
31-03-2025
- Business
- Arabian Business
AB Majlis podcast: Google MENA tackles ‘hardest challenge' in AI – Mastering 16 Arabic dialects
Google's Gemini AI has conquered 16 of the region's 25 Arabic dialects, but the tech giant admits the complexity of Arabic language variations remains one of the most formidable challenges in AI development worldwide. In an exclusive interview on the AB Majlis podcast, Anthony Nakache, Managing Director of Google MENA, revealed the company's progress in creating AI that can truly understand the region's linguistic diversity. 'The challenge is, how do you account for the local nuances and the cultural differences,' Nakache explained. 'This is a hard challenge, but this is something that we are committed to do if you want to make it as useful as possible.' While Gemini now understands 16 Arabic dialects, it currently responds only in Modern Standard Arabic — highlighting the ongoing technical hurdle of building AI that not only comprehends regional speech patterns but can authentically replicate them. $15 million initiative targets Arabic AI gap To accelerate progress, Google has announced its largest-ever regional initiative, committing $15 million through to advance AI skills, safety, and adoption across the Middle East and North Africa. 'We'll launch new curriculum for AI in Arabic. We'll also launch new Google-led and partner-led training programs to really train all users in the region,' Nakache said, detailing plans to upskill half a million people in AI over the next two years. This massive training push comes alongside infrastructure investments including operational cloud regions in Qatar and Saudi Arabia, a newly announced region in Kuwait, and expanded AI capabilities in Saudi Arabia. Google's approach to solving the Arabic language challenge involves multidisciplinary teams of 'product experts, engineers, linguists' working together and making direct visits to Saudi Arabia and the UAE to gather user feedback. Young Arabs reveal unexpected AI usage patterns The investment is driven partly by surprising data on how regional users are utilising AI—in ways markedly different from global trends. 'Over the last couple of months, we've seen a massive increase, especially in the young generation, of prompts that are related to productivity,' Nakache revealed. 'These prompts include things like developing a CV, preparing for an interview, writing effective emails, and that's actually not something we see to the same extent in other parts of the world.' This career-focused approach distinguishes MENA users from those in other regions, where generative AI is often used more for entertainment or general information. 'The young generations in MENA are getting ready to enter the workforce, but also getting ready to develop their career and grow their career using AI,' he added. $320 million economic potential drives government support The economic stakes are enormous. Nakache cited analysis from The Economist projecting that 'by 2030 AI in this region could accrue up to $320 billion in economic value.' This potential has catalysed unprecedented government action across the Gulf. 'They're appointing ministers. They are creating AI authorities. They are building progressive regulation. They are investing in infrastructure,' Nakache said, noting that regional governments 'are doing everything they can to really capture this amazing opportunity.' A study by Ipsos found that 'UAE users are among the most optimistic when it comes to AI globally,' creating a uniquely receptive market for advanced AI technologies. Education and healthcare first to transform Looking beyond language capabilities, Nakache identified education and healthcare as the sectors poised for most immediate transformation. In education, he described AI's ability to help teachers 'boost their creativity and improve their productivity,' allowing them to 'save time and reinvest that time working with students.' He shared a personal anecdote of using Gemini with his 7-year-old son, having 'a 10-minute conversation about the solar system' that he called 'a magical experience' that demonstrated how AI is 'totally changing the way we are interacting with information.' For healthcare, Google's efforts include Med LM, a specialised medical language model, and its Alpha Fold project, which recently earned two Google researchers a Nobel Prize in Chemistry for revolutionising how scientists predict protein structures. 'It used to take four to five years for one person to actually predict the 3D shape of a protein,' Nakache explained. 'In one year with Alpha Fold, we've mapped 200 million proteins,' accelerating research in fields from cancer treatment to climate science. After 15 years in the MENA region, Nakache concluded that Google has 'never been more committed to this region than we are today,' with AI representing 'the most profound way we're actually going to fulfill our mission' of organising the world's information. Tune in to AB Majlis every Monday To listen to the full episode and gain a comprehensive understanding of doing business in the Gulf region, visit our RSS feed or check out AB Majlis on Spotify, Apple Podcasts, and other platforms. Episodes are also available on: Tune in every Monday for weekly episodes that will help you stay ahead of the curve and enrich your understanding of the Gulf region.
Arabian Business
26-03-2025
- Business
- Arabian Business
AB Majlis podcast: A deep dive into Arabian Business' Dubai 100 power list – All you need to know
Dubai's most influential figures have been revealed in the highly anticipated 2025 edition of the Dubai 100 power list, with Mohamed Alabbar, founder and managing director of Emaar Properties and claiming the top spot. In a special episode of AB Majlis, Arabian Business' s Chief Reporter Tala Michel Issa and Reporter Nicole Abigael provided exclusive insights into the reimagined ranking system and the diverse leaders shaping Dubai's future. A new approach to measuring influence This year's Dubai 100 represents a significant departure from traditional power lists that focus primarily on wealth or titles. Arabian Business has introduced a sophisticated nine-parameter ranking system that evaluates individuals across multiple dimensions, including economic contribution, governance, environmental impact, and digital presence. View this post on Instagram A post shared by Arabian Business (@arabianbusiness) 'We wanted to create something more robust than traditional power lists that often focus solely on wealth or title,' Issa explained during the podcast. 'Our new nine-parameter ranking system evaluates individuals across multiple dimensions, from economic contribution and governance to environmental impact and digital presence.' 'We're assessing impact, influence, cultural significance, really looking at who's truly shaping Dubai's trajectory as it continues its remarkable ascent as a global powerhouse,' said Abigael. The comprehensive methodology weighs various factors differently, with inspiration carrying the highest weight at 20 per cent, followed by legacy and economic contribution at 15 per cent each. Cultural impact, community engagement, entrepreneurial achievement, and social media presence each contribute 10 per cent, while environmental impact and innovation round out the framework at 5 per cent each. This approach has resulted in greater diversity across industry representation, nationality, and gender, reflecting Dubai's evolution as a global city where power isn't just about money or position anymore. The Dubai 100's top 5 influential leaders The top five positions on the list showcase different facets of Dubai's development. Mohamed Alabbar (Emaar Properties, – His influence spans from building Dubai's skyline with the Burj Khalifa and Dubai Mall to challenging Amazon's digital dominance in the region with Abdul Aziz Al Ghurair (Mashreq Bank, Al Ghurair Investment) – Under his leadership, Mashreq Bank posted a record AED8.6 billion profit in 2023, representing a 130 per cent year-on-year increase. Beyond finance, he also serves as chairman of Dubai Chambers. Dr. Shamsheer Vayalil (Burjeel Holdings) – He has transformed healthcare across the region and positioned the UAE as a medical tourism destination. Burjeel Holdings saw a 16 per cent increase in revenue to around AED4.5 billion last year. Abdullah Al Futtaim (Al-Futtaim Group) – He has led the group's expansion across automotive, retail, real estate and financial services, while making significant investments in EV infrastructure across the UAE. Badr Jafar (Crescent Enterprises, Pearl Initiative) – Operating at the intersection of business, policy, and purpose, he oversees a $15 billion-plus conglomerate while driving real-world impact through the Pearl Initiative and serving as the UAE envoy for business and philanthropy. Featured women in Dubai 100 Notably, the list features a significant increase in female representation, starting with Huda Kattan of Huda Beauty at number six. With over 50 million Instagram followers and recognition as one of America's richest self-made women, Kattan has redefined influencer-led commerce while championing inclusivity and women's entrepreneurship. 'That's another important shift,' Issa noted during the podcast. 'Beyond Huda Kattan at number six, we have impressive leaders like Dr. Mariam Matar, who launched the UAE Genetic Diseases Association and transformed genetics from a niche science into a cornerstone of UAE healthcare policy.' Other prominent women on the list include Renuka Jagtiani, who leads the $9 billion Landmark Group retail empire spanning over 2,200 stores in 21 countries, and Hana Al Rostamani, who shattered the banking sector's glass ceiling as the first woman to lead a UAE-based bank when she became Group CEO of First Abu Dhabi Bank. Emerging trends reshape what influence truly means in Dubai The podcast hosts identified three major trends in this year's rankings. The rise of cultural operators – Individuals like Anas Bukhash, whose ABtalks platform has clocked over 300 million views, and Abdelmonem Bin Eisa Alserkal, who transformed a stretch of warehouses in Al Quoz into the beating heart of Dubai's contemporary art scene. Sustainability champions – Leaders like Habiba Al Mar'ashi, co-founder and chairperson of Emirates Environmental Group, have transformed environmental action from a niche concern into a mainstream priority, especially following COP28. Digital disruptors – Innovators like Haider Ali Khan of Bayut and dubizzle, who revolutionized property transactions in the Middle East, and Mudassir Sheikha and Magnus Olsen of Careem, who created the region's first unicorn startup. What this tells us about Dubai's future As the hosts discussed, the Dubai 100 reflects how influence is evolving from pure commercial success to multi-dimensional impact. The highest-ranked leaders aren't just building businesses—they're shaping entire ecosystems, influencing policy, and driving cultural change. 'I think we've covered a lot of ground today, from the titans of the industry who build Dubai's physical infrastructure to cultural innovators, tech disruptors reshaping its future as well,' Abigael explained. 'The Dubai 100 is not just a snapshot of who matters today,' Issa observed. 'It's actually a window into the future of the city itself. The individuals who make the list are those who understand where Dubai is headed and are helping to steer its course.' The list also points to the increasing importance of 'bridge builders'—people connecting Dubai to global networks—and those driving sustainability and innovation in line with Dubai's ambitious net-zero 2050 strategy. 'I think this diversity reflects Dubai's own evolution into a truly global city, one that values innovation, sustainability and cultural richness alongside economic growth,' Abigael added.
Arabian Business
12-03-2025
- General
- Arabian Business
AB Majlis podcast: AI companionships could lead to social isolation, warns Marisa Peer
The growing prevalence of AI companionships, could lead to profound psychological challenges, particularly for younger generations who may develop unhealthy dependencies on artificial relationships, acclaimed therapist Marisa Peer warned on the latest episode of AB Majlis. With over 30 years of experience working with clients ranging from Hollywood celebrities to royalty, Peer believes our increasing reliance on artificial relationships may be particularly damaging for younger generations. Humans are fundamentally tribal beings with an innate need for connection 'When humans are born on the planet, they have only two drivers: find connection and avoid rejection,' she explained. 'And we think we're so modern, we can get in a taxi without a driver, but we're actually tribal people. And as tribal people, connection is everything. But it's human connection.' The rise of AI-driven companionships often stems from a deep-seated fear of rejection. Many people turn to artificial relationships to avoid the pain of being dismissed or judged. However, Peer warned that this avoidance can create its own challenges. Learning to handle rejection is a crucial part of life, from career setbacks to personal relationships. Without these experiences, people may struggle to build emotional resilience. The decline of social skills The growing reliance on AI and digital interactions is already affecting the way people, especially younger generations, build relationships. Children and teenagers increasingly live through screens, amassing online followers but lacking real-life friendships. 'You could have 500 friends on Instagram, but the day you're sad, no one's knocking on your door with ice cream,' Peer said. This shift raises concerns about declining social and communication skills. As AI handles tasks like research and spelling, people lose the motivation to develop these abilities themselves. AI companionships also lack the complexity of real human interactions. Unlike a human friend or partner, AI does not challenge bad behaviour, offer constructive criticism, or set boundaries. This absence of real feedback prevents emotional growth. Social isolation is a known contributor to depression, and Peer sees a direct connection between the rise of AI interactions and declining mental well-being. Many modern conveniences—from online shopping to remote work—have reduced face-to-face interactions, leading to an increasing sense of loneliness. 'We have more depressed people than ever because they work from home, their groceries get delivered, they never see anyone,' she said. Extreme isolation can be as damaging as physical confinement. Peer draws a parallel between solitary confinement in prisons and the emotional isolation many people experience today. Studies have shown that disconnected individuals suffer from higher rates of mental health issues, underscoring the critical need for human interaction. Social isolation isn't limited to those who interact with AI – it also affects people at the highest levels of success. Peer shared stories of celebrities and executives who, despite immense wealth and influence, struggle to form meaningful connections. Living behind gated compounds and relying on personal assistants for every task, they often find themselves cut off from real relationships. The idea that external validation – whether from humans or AI – defines self-worth is a misconception. Peer believes that true self-esteem isn't built through AI-generated affirmations but through a strong, internal belief in one's value. Striking a balance in digital age While AI has practical benefits, Peer stressed on the importance of setting boundaries. AI can assist in therapy and personal development, but it should not replace human relationships. 'Our job is to empower people. If you're always looking to AI to make you better, you're becoming disempowered,' she warned. For those struggling with loneliness, she advises simple, proactive steps: engaging in small talk, offering compliments, or even adopting a pet to foster real-life interactions. 'If you're not speaking to anyone and staying alone, you're choosing disconnection. But if you can choose disconnection, you can also choose connection.' As AI continues to evolve, the challenge will be maintaining meaningful human connections. In the end, as Peer said, 'People need people. We have to remember that—it is our human relationships that give us the most joy.' Tune in to AB Majlis every Monday To listen to the full episode and gain a comprehensive understanding of doing business in the Gulf region, visit our RSS feed or check out AB Majlis on Spotify, Apple Podcasts, and other platforms. Episodes are also available on: Tune in every Monday for weekly episodes that will help you stay ahead of the curve and enrich your understanding of the Gulf region.
