Latest news with #D33EconomicAgenda
Dubai Eye
16-05-2025
- Business
- Dubai Eye
H.H. Sheikh Hamdan: Innovation, excellence key to Dubai's future
His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Dubai's Crown Prince and the UAE's Deputy Prime Minister and Defence Minister has met with government leaders, business figures, diplomats and citizens at his majlis in Nad Al Sheba. During the gathering, Sheikh Hamdan highlighted Dubai's long-standing commitment to government excellence and digital transformation, noting the emirate's shift to a digital-first approach and its focus on flexibility, speed and bold decision-making. He also pointed to the UAE's rising global influence in governance and innovation, with many countries now studying its model. The discussion also touched on key initiatives under the Dubai 2030 Plan, the D33 Economic Agenda, and the Social Agenda 33, all aimed at making Dubai one of the best cities in the world to live and work. Today, I met with senior government officials, local dignitaries, and businessmen at Nad Al Sheba Majlis, alongside ambassadors and consuls from several countries. We exchanged ideas to advance the UAE's comprehensive development journey and expand the horizons of our… — Hamdan bin Mohammed (@HamdanMohammed) May 15, 2025
TAG 91.1
15-05-2025
- Business
- TAG 91.1
H.H. Sheikh Hamdan: Innovation, excellence key to Dubai's future
His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Dubai's Crown Prince and the UAE's Deputy Prime Minister and Defence Minister has met with government leaders, business figures, diplomats and citizens at his majlis in Nad Al Sheba. During the gathering, Sheikh Hamdan highlighted Dubai's long-standing commitment to government excellence and digital transformation, noting the emirate's shift to a digital-first approach and its focus on flexibility, speed and bold decision-making. He also pointed to the UAE's rising global influence in governance and innovation, with many countries now studying its model. The discussion also touched on key initiatives under the Dubai 2030 Plan, the D33 Economic Agenda, and the Social Agenda 33, all aimed at making Dubai one of the best cities in the world to live and work. Today, I met with senior government officials, local dignitaries, and businessmen at Nad Al Sheba Majlis, alongside ambassadors and consuls from several countries. We exchanged ideas to advance the UAE's comprehensive development journey and expand the horizons of our… — Hamdan bin Mohammed (@HamdanMohammed) May 15, 2025
Zawya
08-05-2025
- Business
- Zawya
Ascott targets 20% annual growth and 15,000 units in Middle East, Africa, and Turkey by 2030
United Arab Emirates, Dubai – The Ascott Limited (Ascott), a leading global hospitality operator today, today announced plans to achieve a 20% annual growth rate over the next five years in the Middle East, Africa, and Turkey (MEAT) region — setting a bold pace for expansion as the region's hospitality and tourism sectors undergo rapid transformation. Ascott's growth ambitions align with the region's mega-development programs such as Saudi Vision 2030 and the UAE's D33 Economic Agenda. The company aims to steadily grow its regional presence toward 15,000 units in operation or under development by 2030, leveraging its flexible living portfolio and experience-led hospitality models. "We are targeting sustainable, robust growth of 20% year-on-year, guided by a flexible living philosophy and a focus on future-ready cities," said Vincent Miccolis, Managing Director, Middle East, Africa, and Türkiye, The Ascott Limited. "As tourism, urban living, and work patterns evolve, Ascott is uniquely positioned to meet the region's demand for hybrid hospitality solutions that blend living, working, and community experiences." Ascott's expansion plans are anchored by strategic growth in Saudi Arabia and the United Arab Emirates. In Saudi Arabia, the company intends scaling operations across Riyadh, Jeddah, Makkah, Madinah, and key secondary cities, supported by upcoming openings such as Ascott Villas Riyadh, an upper-upscale living concept set to launch in Q3 2025 and the recent signing of a The Crest Collection hotel located on King Fahd Road in Riyadh. In the UAE, Ascott is deepening its presence in Dubai and entering Abu Dhabi, targeting both tourism and business demand. New projects include The Crest Collection Ras Al Khaimah on Marjan Island, bringing bespoke, story-driven hospitality to one of the UAE's fastest-growing leisure destinations. As part of its future-ready strategy, Ascott is also responding to powerful shifts in traveller expectations — particularly among Millennials, Gen Z, and globally mobile citizens — who increasingly seek flexible living environments, community connection, and authentic, locally rooted experiences. Looking ahead, Ascott sees a significant opportunity to introduce its highly successful experience-led social living concept, lyf, to the Middle East for the first time. Currently thriving in global cities like Singapore, Bangkok, London, Tokyo, and soon Paris, lyf properties are purposefully designed to foster organic social interactions through shared spaces, community-driven programming, and a tech-enabled, flexible guest experience. From co-working lounges to communal kitchens and curated local collaborations, lyf creates environments that go beyond traditional accommodation — offering a new way of living, working, and connecting. "The Middle East is undergoing one of the most dynamic urban transformations globally, with young business travelers, digital nomads, and long-stay residents increasingly looking for more than just a place to stay," said Miccolis. "The lyf concept is a perfect fit for the region's future cities — blending social living, flexible design, and operational agility in ways that appeal to next-generation travelers and forward-thinking investors alike. The brand has gained a lot of traction in the co-living space over the past three years. We are targeting to sign 150 lyf properties globally by 2030 and we see great potential for many of these to be in the MEAT region." Bringing lyf to the Middle East would not only diversify the regional hospitality landscape but also offer owners and investors a highly efficient, future-focused model. Designed with compact unit designs, highly activated common spaces, lower development and operational costs, and strong resonance with younger market segments, lyf represents a compelling value proposition for partners seeking to differentiate their hospitality offerings in an increasingly competitive environment. As new giga-projects in Saudi Arabia, and new urban innovation districts in Abu Dhabi and Dubai reshape the tourism and living landscape, Ascott's adaptable hospitality models — from serviced residences to community-driven social living hubs — are primed to meet the needs of future-forward cities. "New cities require new thinking," said Miccolis. "Ascott is building for a future where community, flexibility, and experience are the true currencies of hospitality." About The Ascott Limited The Ascott Limited (Ascott) is driven by a vision to be the preferred hospitality company, enriching global living with heartfelt experiences. With a portfolio of over 980 properties across more than 230 cities in over 40 countries, Ascott's presence spans Asia Pacific, Central Asia, Europe, the Middle East, Africa and the USA. Its diverse collection of award-winning brands includes Ascott, Citadines, lyf, Oakwood, Somerset, The Crest Collection, The Unlimited Collection, Fox, Harris, POP!, Preference, Quest, Vertu and Yello. Ascott specialises in managing and franchising a wide range of lodging options, including serviced residences, hotels, resorts, social living properties and branded residences, catering to the varying needs and preferences of global travellers. Through the Ascott Star Rewards (ASR) loyalty programme, members enjoy exclusive privileges and curated experiences, enhancing every aspect of their travel journey. As a wholly owned business unit of CapitaLand Investment Limited, Ascott generates fee-related earnings by leveraging its expertise in both lodging management and investment management. It also drives the expansion of funds under management by growing its sponsored CapitaLand Ascott Trust and private funds.
Zawya
06-05-2025
- Business
- Zawya
Dubai among top cities; set to become tier-one global city
Dubai is making rapid progress towards becoming a tier-one global city and fully established global hub, according to a new report by Driven | Forbes Global Properties, Dubai's award-winning real estate brokerage. The report, titled 'Dubai on the Verge of Tier-1 City Recognition,' presents the first analytical framework developed by the UAE-based brokerage, Driven, to measure how a city stacks up against the world's most established hubs. Drawing on 28 quantitative indicators, spanning infrastructure, governance, economic depth, safety, quality of life and inter appeal, the new index introduced in the report benchmarks Dubai alongside Singapore, Sydney, London, New York, Hong Kong and Paris to spotlight the city's approach towards recognition as a tier one global city. This is backed by wider visions, including its D33 Economic Agenda and Dubai 2040 Master Plan. The new report, based on rigorous primary and secondary market research, caters to a diverse range of stakeholders—including investors, family offices, developers, and individuals aiming to explore and invest in the city's ever-evolving real estate market from various real-time perspectives. 'We saw a chance to elevate the conversation, beyond headlines and market sentiment, and to ground it in real data, global benchmarks, and long-term vision, and we felt a responsibility to lead that effort,' said Abdullah Alajaji, CEO and Founder at Driven | Forbes Global Properties. Dubai: 5th out of 7 leading global cities Driven | Forbes Global Properties is also the first real estate brokerage in the region to develop and publish its own proprietary Tier-1 City Index, marking a bold move in providing a structured, data-backed lens on Dubai's transformation into a global hub. According to the Index, as outlined in the report, Dubai ranks fifth out of seven leading global cities, with standout performances in infrastructure (2nd), international appeal (3rd), safety and security (4th), and quality of life (4th). Industry sentiment echoes this progress, with most stakeholders believing the emirate will achieve full tier-one status within 5-10 years. Further, the report highlighted how Dubai currently offers higher cap rates than traditional tier-one markets, owing to the emirate's shorter real estate market history and higher historical price volatility, a marginally higher financial risk-free rate, and other factors. Through its gradual maturity, cap rate compression can be expected, aligning Dubai's investment profile with other leading global real estate hubs. Highlighted trends, considerations and opportunities A key pricing trend unveiled that Dubai is entering a more mature pricing phase. Almost half (43%) of surveyed respondents believe Dubai's property prices to be appropriately valued, while 35% see them as somewhat overvalued. Only 11% believe prices are undervalued. The report also stressed several investor considerations, including the need to track, in real time, project pipelines and demographic trends to prevent supply-demand mismatches, and ensure market stability. At the same time, the report spotlighted several strategic investment opportunities, such as limited-supply asset classes including waterfront and coastal properties. These properties are likely to resist price fluctuations and provide stronger long-term value. Affordable and mid-income housing also presents strong development potential, among other similar opportunities. Predicted outcomes The report concluded that Dubai's real estate market is steadily evolving into a mature global hub, on the cusp of full tier-one city recognition. While short-term price fluctuations may persist, Dubai's strong fundamentals and increasing institutional capital inflows position it as a strategic long-term investment destination. As the market continues to mature, it is expected to mirror the stability and investment appeal of established global cities. – TradeArabia News Service Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
Trade Arabia
05-05-2025
- Business
- Trade Arabia
Dubai among top cities; set to become tier-one global city
Dubai is making rapid progress towards becoming a tier-one global city and fully established global hub, according to a new report by Driven | Forbes Global Properties, Dubai's award-winning real estate brokerage. The report, titled 'Dubai on the Verge of Tier-1 City Recognition,' presents the first analytical framework developed by the UAE-based brokerage, Driven, to measure how a city stacks up against the world's most established hubs. Drawing on 28 quantitative indicators, spanning infrastructure, governance, economic depth, safety, quality of life and inter appeal, the new index introduced in the report benchmarks Dubai alongside Singapore, Sydney, London, New York, Hong Kong and Paris to spotlight the city's approach towards recognition as a tier one global city. This is backed by wider visions, including its D33 Economic Agenda and Dubai 2040 Master Plan. The new report, based on rigorous primary and secondary market research, caters to a diverse range of stakeholders—including investors, family offices, developers, and individuals aiming to explore and invest in the city's ever-evolving real estate market from various real-time perspectives. 'We saw a chance to elevate the conversation, beyond headlines and market sentiment, and to ground it in real data, global benchmarks, and long-term vision, and we felt a responsibility to lead that effort,' said Abdullah Alajaji, CEO and Founder at Driven | Forbes Global Properties. Dubai: 5th out of 7 leading global cities Driven | Forbes Global Properties is also the first real estate brokerage in the region to develop and publish its own proprietary Tier-1 City Index, marking a bold move in providing a structured, data-backed lens on Dubai's transformation into a global hub. According to the Index, as outlined in the report, Dubai ranks fifth out of seven leading global cities, with standout performances in infrastructure (2nd), international appeal (3rd), safety and security (4th), and quality of life (4th). Industry sentiment echoes this progress, with most stakeholders believing the emirate will achieve full tier-one status within 5-10 years. Further, the report highlighted how Dubai currently offers higher cap rates than traditional tier-one markets, owing to the emirate's shorter real estate market history and higher historical price volatility, a marginally higher financial risk-free rate, and other factors. Through its gradual maturity, cap rate compression can be expected, aligning Dubai's investment profile with other leading global real estate hubs. Highlighted trends, considerations and opportunities A key pricing trend unveiled that Dubai is entering a more mature pricing phase. Almost half (43%) of surveyed respondents believe Dubai's property prices to be appropriately valued, while 35% see them as somewhat overvalued. Only 11% believe prices are undervalued. The report also stressed several investor considerations, including the need to track, in real time, project pipelines and demographic trends to prevent supply-demand mismatches, and ensure market stability. At the same time, the report spotlighted several strategic investment opportunities, such as limited-supply asset classes including waterfront and coastal properties. These properties are likely to resist price fluctuations and provide stronger long-term value. Affordable and mid-income housing also presents strong development potential, among other similar opportunities. Predicted outcomes The report concluded that Dubai's real estate market is steadily evolving into a mature global hub, on the cusp of full tier-one city recognition. While short-term price fluctuations may persist, Dubai's strong fundamentals and increasing institutional capital inflows position it as a strategic long-term investment destination. As the market continues to mature, it is expected to mirror the stability and investment appeal of established global cities. – TradeArabia News Service
