Latest news with #Dh27
Al Etihad
31-07-2025
- Business
- Al Etihad
Arada sees sales more than triple to Dh9.15 billion in H1 2025
31 July 2025 17:20 SHARJAH (WAM)Arada has reported a tripling of sales during the first half of 2025 to Dh9.15 billion as healthy demand for premium residential property continues to lift markets across the UAE. The master developer saw a 336% increase in the value of property sold at its projects in Dubai and Sharjah, driven by major launches and increasing interest in existing master planned total, Arada sold 2,382 homes during the first six months of the year, a 247% gain on the same period in 2024. Arada's best-performing projects during this period included precision wellness destination Akala, which was launched in Dubai in May, and the 2,000 villa and townhouse community Masaar 2, which was launched in Sharjah in February and sold out in just three Royal Highness Prince Khaled bin Alwaleed bin Talal, Executive Vice Chairman of Arada, said, 'At Arada, we have always believed that when people and spaces connect with purpose, the results can be transformational. That philosophy has guided every community we've built, and the exceptional performance we've seen in the first half of this year proves that a long-term, people-first strategy consistently delivers meaningful value for residents and investors alike.'Group CEO of Arada, Ahmed Alkhoshaibi, said, 'We're looking to build on the excellent sales results from the first six months of the year by launching a further three projects across the UAE in the second half of 2025, which will together total around 5,000 new homes. In addition, as we gear up for the launch of our first projects in Australia, we will continue to identify new opportunities and partnerships not just in the UAE but overseas as well.'Arada's sales figures have been bolstered by the strong performances of property markets in both Sharjah and Dubai. Recent data issued by the Sharjah Real Estate Registration Department showed a 48% rise in the value of property sold in the six months of 2025 to Dh27 billion, compared to the same period a year Dubai continued to cement its position as a global property hotspot, with a 25% increase in the value of real estate sold to Dh431 billion. Since its launch in 2017, Arada has launched nine successful projects in both Sharjah and Dubai, and has a pipeline of existing and future projects in the UAE and Australia valued at over Dh90 billion. In total, Arada has sold over 17,000 units since inception, valued at over Dh29 billion, with over 10,000 units completed.
Al Etihad
24-07-2025
- Business
- Al Etihad
Sharjah real estate transactions surge 48.1% to Dh27 billion in H1 2025
24 July 2025 10:58 SHARJAH (WAM) Sharjah's real estate sector recorded Dh27 billion in transactions during the first half of 2025, a 48.1 percent increase from Dh18.2 billion in the same period last the number of transactions carried out by the Sharjah Real Estate Registration Department reached 48,059, representing a 3.3 percent increase compared to 46,524 transactions during the same period last strong performance reflects growing investor confidence in Sharjah's real estate sector, supported by economic stability, investor-friendly legislation, and modern infrastructure. The diversity of investor nationalities has further reinforced the emirate's position as a competitive and attractive property a statement, Director-General of the Sharjah Real Estate Registration Department, Abdulaziz Ahmed Al-Shamsi, stated that this outstanding performance of Sharjah's real estate sector reflects the vitality of the market and its continuous added, 'This significant increase is a direct translation of the firm confidence in the emirate's real estate sector, both locally and internationally, and the continuous support of His Highness Sheikh Dr. Sultan bin Muhammad Al Qasimi, Supreme Council Member and Ruler of Sharjah, and the keen follow-up of His Highness Sheikh Sultan bin Muhammad bin Sultan Al Qasimi, Crown Prince, Deputy Ruler of Sharjah, and Chairman of Sharjah's Executive Council, which has firmly positioned Sharjah on the regional and international real estate sector.'Al-Shamsi noted that transactions alone reached 15,686 with a value of Dh21.2 billion, as they were distributed across 214 areas and covered a total area of 90 million square feet, which reflects the emirate's geographical diversity in real estate the growth in the number of mortgage transactions, which reached 2,582 with a value of approximately Dh5.7 billion, also reflects the depth of the partnership between the real estate sector and financing institutions in the added that growing interest from foreign investors highlights Sharjah's strong global appeal, with investments coming from 109 nationalities. He said the emirate remains committed to sustaining this momentum by enhancing the real estate ecosystem and maintaining high standards of transparency and integration, in line with its vision for sustainable transactions of various types (sale, usufruct sale, and initial sales contracts) reached 15,686 during the period, valued at Dh21.2 billion—up 45.1 percent from 10,809 sales in H1 2024. These covered 214 areas and a total area of 90 million square 'Muwailih Commercial' area led with 2,898 transactions worth Dh3.5 billion, followed by Al-Belaida (1,593 transactions, Dh1.3 billion), and Al-Metraq (1,387 transactions, Dh430 million).By property type, residential transactions dominated with 11,459 transactions, which represented 74.6 percent of the total, followed by industrial properties with 3,195 transactions (20.8 percent), commercial properties with 603 transactions (4 percent), and agricultural properties with 95 transactions (0.6 percent).During the same period, the number of mortgage transactions has reached 2,582, with a total value of Dh5.7 billion, completed through 24 financing for the areas with the highest number of mortgage transactions, "Tilal" topped with 194 transactions valued at Dh339.2 million, followed by " Muwailih Commercial" with 167 transactions valued at Dh707.3 million, "Um Fanain" with 146 transactions valued at Dh222.6 million, and "Al-Saja'a Industrial" with 71 transactions valued at Dh204.8 new real estate projects were registered, including four residential complexes in Muwailih Commercial, Al-Tay, and Al-Tay West, as well as four new towers—two industrial in Al-Saja'a Industrial, and two residential/commercial towers in Al-Belaida and Al-Waha.A total of 109 nationalities invested in Sharjah's real estate market in H1 2025. UAE nationals accounted for Dh12.2 billion in investments across 14,307 properties (45.2 percent of total). GCC nationals invested Dh1.2 billion across 889 properties (4.6 percent), while other Arab investors contributed Dh5.4 billion through 4,057 properties (20.1 percent).Similarly, investments by other nationalities witnessed record growth, totalling about Dh8.1 billion across 3,878 properties, representing 30.1 percent of the total investment number of foreign investors in Sharjah rose 39.4 percent year-on-year to 6,662, with 7,448 properties traded, up 40.6 percent. By number of properties traded, Emirati investors led with 14,307 properties, followed by investors from India (1,525), Syria (969), Egypt (685), Jordan (678), and Iraq (576).
Al Etihad
25-06-2025
- Business
- Al Etihad
GPSSA board approves final budget for 2024
25 June 2025 21:31 ABU DHABI (WAM)Mubarak Rashed Al Mansoori, Chairman of the Board of Directors of the General Pension and Social Security Authority (GPSSA), chaired the third board meeting on Wednesday June 25, 2025, in the presence of members of the board and subsidiary Mansoori began the meeting by welcoming members of the board who then proceeded to discuss the meeting agenda, approve the minutes of the previous meeting and review GPSSA's leadership decisions and recommendations, as well as those taken by the subsidiary committees, namely: the Higher Committee for Human Resources and Remuneration, the Investment Committee, the Audit and Risk Committee, and the Development and Improvement GPSSA discussed and approved the investment sector's strategy and the final budget for 2024 as recommended and approved by the Council of Ministers. The financial performance report for April 2025 and the developments in GPSSA's Ma'ashi digital platform were also highlighted, alongside other topics on the agenda that required appropriate statistics for May 2025 indicate that the number of contributors has increased to 157,979 in comparison to 130,678 in May of last year, showing a rise of 27,301 contributors. The number of employers registered with the GPSSA increased to 20,288 compared to 16,526 in May of last year, an increase of 3,762 employers. Additionally, the number of pensioners in May 2025 have increased to 21,417 in comparison to 20,516 pensioners for the same period last year and the number of beneficiaries reached 8,408 compared to 8,314 for May of last year, while the value of pensions disbursed for May 2025 amount to Dh478,686,572.69 compared to Dh451,262,595.96 for the same month last year, showing an evident increase of Dh27,423,977.
Khaleej Times
20-05-2025
- Business
- Khaleej Times
UAE's domestic debt market issuance to hit Dh66.1b in 2025
The UAE is accelerating efforts to deepen its domestic debt capital market, with Abu Dhabi and the federal government set to issue over Dh29.4 billion ($8 billion) in local currency debt in 2025, according to S&P Global Ratings. This strategic push aims to build a robust domestic yield curve, reduce reliance on volatile international markets, and foster financial resilience across the emirates. S&P Global Ratings projects that the UAE federal government and individual emirates will collectively issue approximately Dh66.1 billion ($18 billion) in local currency debt this year, a slight dip from Dh69.7 billion ($19 billion) in 2024. 'About 55 per cent of this will refinance or roll over maturing debt,' said S&P analyst Zahabia Gupta. Among the rated emirates — Abu Dhabi, Ras Al Khaimah, and Sharjah — only Sharjah is expected to issue debt to address a fiscal deficit, projected at 6.3 per cent of GDP in 2025. Abu Dhabi and Ras Al Khaimah, bolstered by fiscal surpluses, will focus on issuances based on opportunities. The UAE's domestic debt market, though still nascent, is gaining traction. Since 2021, the federal government has issued Dh27 billion ($7.3 billion) in treasury bonds and sukuk in local currency, accounting for 42 per cent of total issuances. Sharjah has also been active, issuing Dh1 billion in long-term sukuk in July 2024 and reissuing Dh7 billion in short-term sukuk in May 2024. However, most emirate and federal debt remains U.S. dollar-denominated and held externally, exposing issuers to global market volatility. Sharjah's net government debt stood at 50 per cent of GDP and an interest burden consuming 30 per cent of revenues — one of the highest among S&P-rated sovereigns. Despite this, its recent sukuk issuances were well-received, signalling market confidence. The UAE's well-capitalised banking sector, with rising deposits and healthy loan-to-deposit ratios, provides a safety net. A 2025 report from Moody's Analytics notes that UAE banks' liquidity ratios improved by eight per cent in 2024, positioning them to support lending growth. In extreme scenarios, S&P expects Abu Dhabi-backed federal support for struggling emirates. Lower oil prices have not deterred fiscal prudence. Abu Dhabi may repay part of its Dh22 billion ($6 billion) debt maturing in 2025, while Dubai continues deleveraging, repaying Dh4.4 billion ($1.2 billion) in Q1 2025. However, Dubai could ramp up borrowing from 2026 to fund major projects like the Al Maktoum International Airport expansion and rainwater drainage upgrades, according to a Bloomberg report. Ras Al Khaimah, meanwhile, issued a Dh3.7 billion ($1 billion) 10-year sukuk in March 2025 to refinance maturing debt, with tourism projects largely funded by government-related entities to limit fiscal strain. Regular local currency issuances by Abu Dhabi and the federal government are pivotal for establishing a domestic yield curve, which could streamline pricing for bank and corporate issuances and enable smaller issuers to tap capital markets. A 2025 Fitch Ratings report highlights that domestic bond issuances could reduce borrowing costs for UAE corporates by 10–15 per cent over the next five years. However, S&P anticipates that international markets and bank funding will remain dominant for corporates in the near term. The UAE's push to develop its domestic debt market reflects a broader vision of economic diversification and financial stability. By fostering local currency issuances, the emirates are not only shielding themselves from global market volatility but also paving the way for a more inclusive and dynamic capital market ecosystem.
Al Etihad
17-05-2025
- Business
- Al Etihad
UAE to raise over $8 billion in local debt market in 2025 to build yield curve: S&P
17 May 2025 12:31 REDDY (ABU DHABI) The UAE government, including the emirate of Abu Dhabi, is expected to issue more than $8 billion in local currency debt this year as part of a strategic push to develop a domestic yield curve, S&P Global Ratings said in its latest initiative reflects an effort to deepen the UAE's local debt capital markets and reduce reliance on external financing.'Overall, we expect individual emirates and the UAE federal government to issue about $18 billion of total debt in 2025, slightly down from $19 billion in 2024,' the report said, noting that around 55% of the new borrowing will go towards refinancing or rolling over maturing the three emirates rated by S&P — Abu Dhabi, Ras Al Khaimah, and Sharjah — only Sharjah is expected to raise debt to cover a fiscal deficit, estimated at 6.3% of GDP in 2025. Abu Dhabi and Ras Al Khaimah are forecast to maintain fiscal Dhabi's move to issue more local currency bonds builds on the federal government's efforts, which began in 2021 with the launch of dirham-denominated treasury bonds and sukuk totalling Dh27 billion ($7.3 billion). Sharjah followed in 2024 with both long- and short-term sukuk in local currency. Nevertheless, most UAE sovereign debt remains denominated in US dollars and held a domestic yield curve — a representation of borrowing costs across different maturities — is key to fostering a vibrant local debt market. It serves as a pricing benchmark for banks and corporates, enables more efficient capital allocation, and improves funding access for smaller issuers. As Abu Dhabi and the federal government increase dirham-denominated issuances, these instruments can help anchor market-wide to S&P Global Ratings, Abu Dhabi recorded the highest gross borrowing among UAE emirates in 2024 at $12.4 billion, or 4.1% of GDP. This is expected to fall to $8.2 billion in 2025, or 2.7% of GDP. Sharjah's projected borrowing for 2025 stands at $6 billion, representing 13.9% of GDP — the highest relative debt burden among rated emirates. Ras Al Khaimah is expected to raise $1 billion this year, after no issuance in 2024, equating to 7.5% of GDP. The UAE federal government is forecast to issue $2.7 billion in 2025, or 0.5% of GDP, while Dubai is not expected to raise any debt this data point to a pattern: individual emirates — particularly Abu Dhabi, Sharjah, and Ras Al Khaimah — are considerably more active in the debt markets than the federal government. This trend reflects the UAE's decentralised fiscal architecture, with most capital market activity occurring at the emirate capital market conditions become less favourable, the UAE's well-capitalised and liquid banking sector could provide alternative funding. 'Banks have notably increased deposits over the past three years and continue to display comfortable loan-to-deposit ratios that should support strong lending growth in 2025,' the report lower oil prices, most emirates are expected to maintain prudent fiscal management and robust balance sheets. 'Much of the debt issuance is therefore likely to be opportunistic and market dependent,' S&P said. The report cites several examples. Abu Dhabi may choose to repay part of the approximately $6 billion in debt maturing this year. Dubai continues its deleveraging path, having repaid $1.2 billion in the first quarter of the year. 'Dubai could, however, issue more debt from 2026 to fund the expansion of the Al Maktoum International Airport and the renovation of the rainwater drainage network,' the report said. Ras Al Khaimah issued a $1 billion 10-year sukuk in March to refinance maturing obligations. 'There are large upcoming tourism-related projects in the emirate, but we anticipate that these will be mostly funded by government-related entities (GREs), with contingent liabilities of the government remaining manageable,' the S&P report concluded.
