Latest news with #Dh440
Time Out Abu Dhabi
12 hours ago
- Time Out Abu Dhabi
Here's why flights in the UAE might be more expensive this summer
Jetting off this summer? Brace yourself. Whether it's a quick hop to Mumbai or a long-haul to New York, flight prices from the UAE are soaring. Airspace restrictions across the region have led to ripple effects being felt across the skies, which means airlines are rerouting to avoid the no-fly zones and journeys are getting longer. Ticket prices are also climbing fast. If you've been dreaming of European escapes, African safaris, or simply heading home for the holidays, you might've noticed your usual flight budget isn't cutting it. Fare comparison sites like Skyscanner and Google Flights show prices from Abu Dhabi and Dubai to Asia, Africa, Europe and the Americas have jumped anywhere between 15 and 60 percent – all in less than a week (last week compared to this week). For the UAE's massive Indian expat community, summer trips home are usually routine. This year, they're coming with serious sticker shock. One-way tickets to cities like Mumbai and Delhi, which typically cost between Dh380 and Dh440, are now going for up to Dh800. That's nearly double – and if you're booking for the whole family, the cost hike adds up quickly. If you're heading Stateside, flights to New York are averaging between Dh1,210 and Dh1,325 – a notable jump from the previous prices of around Dh1,030. Round-trip fares to cities like Chicago and Houston are now pushing Dh2,475, with longer flight times and steeper fuel costs behind the spike. Flying to Nairobi? Prices have crept up from around Dh550 to as much as Dh750 for a one-way ticket. Round-trips are now averaging Dh1,195 – about 25 percent more than last week. Some airlines are even adding extra stopovers to reroute safely, increasing both travel time and overall hassle. Even routes that don't directly pass over conflict zones are feeling the squeeze. Fares to destinations like Frankfurt have climbed by 25 percent, with traffic rerouted over more limited air corridors, causing delays and congestion. Why are flight prices more expensive at the moment? While the reason hasn't been confirmed, longer routes mean extra hours in the air, which means more fuel, more staffing and more logistical complexity – and could lead to higher fares. Midweek departures or flying at off-peak times can still offer some relief. And flexible ticket options are your best bet in case plans suddenly shift. If you've got summer travel plans, get ahead of the surge and book wisely. Need some travel inspo? Travelling from Abu Dhabi is about to be so much faster Zayed International Airport is the world's first airport to make this change 18 countries offering visa-on-arrival to UAE residents Here's where to go UAE citizens now get visa-on-arrival for India: a game-changer for travellers That quick trip to India just got even easier
Express Tribune
25-04-2025
- Business
- Express Tribune
UAE gold buyers turn to smart instalment plans amid rising prices
A tourist is looking at the gold items in Dubai shop display. PHOTO: GULF NEWS Listen to article Dubai's gold prices remain locked at glittering highs — with 22K gold hovering at Dh373 per gram and 24K at over Dh440 — yet that hasn't stopped UAE residents from flocking to jewellery stores. Instead of impulse splurges, they're opting for a more calculated route: monthly gold instalment plans. Faced with historic highs — with global prices edging towards $3,500 an ounce — shoppers are donning their investor hats. Leading jewellers across the Emirates have reported a spike in interest for their pay-as-you-go gold schemes. These flexible plans, often starting below Dh1,000 a month, allow buyers to accumulate credit over time, which can later be redeemed in coins, bars, or handcrafted pieces — and often with incentives thrown in. "The monthly instalment schemes have seen a surge in popularity," said one major retailer. "We're even seeing tourists and non-residents enrolling — it's about smarter, long-term accumulation rather than spontaneous purchases." Dubai resident Mandar Khatoo, who's now in his second year of the plan, noted, 'There's no pressure to buy at the end of 12 months. I can extend it, and I even got a one-month bonus added on. It's a win-win while we wait for prices to cool.' What's driving this disciplined approach? According to the World Gold Council, 2024 saw a drop in traditional jewellery sales but a notable uptick in gold bar and coin investments. The trend reflects a wider transformation: UAE consumers are no longer just buyers — they're strategic investors. 'Search trends show that 'Buy Gold' queries from UAE users have hit a five-year high,' said James Campion from eToro. 'This signals rising consumer confidence in gold, even at elevated prices, as a resilient store of value.' Since gold broke the Dh300-per-gram barrier in October 2024, it has climbed over 30%, outshining many traditional investments. Now, rather than gamble on market dips, UAE residents are laying the groundwork for future buys — one monthly payment at a time. With gold's ascent showing few signs of slowing, it seems the UAE's glittering obsession is evolving — from passion to portfolio.
Gulf News
25-04-2025
- Business
- Gulf News
Dubai gold price sticks to Dh370 plus levels - more UAE shoppers opt for 'monthly instalments'
Dubai: The Dubai gold rate continues to stick to over Dh370 for a gram of 22K (and Dh440 plus for 24K) – but that has not prevented UAE's resident-shoppers to see what they can do to make best use of the near-peak prices. In recent days, more of them are signing up for the monthly gold instalment schemes offered by leading jewellers here. The average monthly instalments are in the Dh1,000-Dh2,000 range, but shopper-investors can even go below Dh1,000 to make a start. At the end of a certain period, they can recoup those payments in any form of gold they want – coins, bars or jewellery and with the retailers throwing in some incentives of their own. 'The monthly instalment schemes have been the most popular option with UAE residents, especially after gold hit $3,500 an ounce,' said a jewellery retailer who is giving the instalment option. Essentially, these shoppers are only 'delaying' their next purchase of gold until such time they feel prices have dropped to levels they are comfortable with. 'We even have non-residents who are regular visitors to the UAE opting to sign up for the instalment plans,' said the retailer. 'For many it's a realisation that rather than random gold buys, it makes better sense to build their way to the grams or jewellery they want.' Shoppers turn 'investors' For more than a year now, jewellery retailers and entities such as World Gold Council have been saying that shoppers in the UAE and Gulf have 'refined' their ways in buying the metal. Which explained why gold bars and coin sales did remarkably well even as overall jewellery sales fell during 2024, according to World Gold Council data. And the process only got bigger with gold prices going its merry way towards $3,500 an ounce, which meant that the Dubai gold rate hit a peak of Dh388 a gram for 22K and Dh412 for 24K. "Google search data reveal that 'Buy Gold' search queries have reached a 5-year high from UAE-based searchers," said James Campion of the trading platform eToro. "This surge in online interest reflects growing consumer confidence in gold as a safe-haven asset despite elevated prices. "The Dubai gold rate has experienced an extraordinary journey since breaking through the Dh300 milestone in October 2024. "In less than six months, prices have increased by more than 30% - outperforming most other investment assets during the same period."
Al Etihad
13-03-2025
- Business
- Al Etihad
ADFD launches Dh440 million 'Sofitel Legend Pyramids Giza' project to boost Egypt's tourism sector
ABU DHABI (ALETIHAD) As part of its efforts to support and revitalise Egypt's tourism sector and enhance strategic investments, the Abu Dhabi Fund for Development (ADFD) has announced the launch of the "Sofitel Legend Pyramids Giza" project. This luxury five-star hotel will be a landmark addition to the hospitality and tourism sector in Egypt and the broader Middle East, reinforcing the UAE's commitment to advancing global economic partnerships and supporting sustainable development. Valued at Dh440 million ($120 million), the project will feature 302 rooms equipped with state-of-the-art amenities. The hotel will also house a selection of international restaurants and entertainment facilities, positioning it as a premier destination for luxury hospitality. The project is financed through a strategic partnership between the private sectors of the UAE and Egypt. ADFD is contributing 84.28% of the project's capital through Abu Dhabi Tourism Investment Company (ADTIC). Additionally, Abu Dhabi National Hotels owns 10.22%, Overseas Tourism Investment Company holds 0.4%, Misr Hotels Company owns 2.73%, and the Egyptian General Company for Tourism & Hotels owns 2.37%. The foundation was jointly laid by Mohamed Saif Al Suwaidi, Director General of ADFD, and Engineer Adel Al-Najjar, the Governor of Giza, from the Egyptian government, in the presence of officials from both sides. Blending rich history with modern luxury, the project promises an exceptional hospitality experience that meets the highest international standards. Abu Dhabi Tourism Investment Company is partnering with Accor Group, a globally renowned hospitality brand, to manage the hotel and ensure excellence in service and guest experience. Al Suwaidi said: "Sofitel Legend Pyramids Giza project is a significant step in strengthening Egypt's tourism sector, offering a world-class hotel experience that underscores our commitment to sustainable investments in promising markets. Through our partnership with Accor Group, we aim to elevate the tourism industry while supporting economic and social development in Egypt." He called this investment a reflection of ADFD's commitment to advancing sustainable development projects and driving investment partnerships that fuel economic growth in partner countries." Al-Najjar, expressed gratitude to ADFD for its continued support. "We appreciate Abu Dhabi Fund for Development's commitment to supporting Egypt's development projects, particularly in key economic sectors like tourism. The Sofitel Legend Pyramids Giza project represents a transformative step in strengthening our tourism infrastructure, enabling us to attract visitors from around the world thanks to its strategic location near Egypt's most iconic archaeological sites." He noted that this project is a model for successful investment collaboration between Egypt and the UAE. "We look forward to expanding such partnerships to further our sustainable development goals," he said. By blending luxury hospitality with Egypt's rich cultural heritage, the Sofitel Legend Pyramids Giza project will strengthen the country's position as a premier global tourist destination. Its strategic location near iconic landmarks will attract visitors from around the world, creating new investment opportunities and driving the sustainable growth of Egypt's tourism sector. Through investments in transformative infrastructure projects like this, the UAE reaffirms its commitment to supporting Egypt's national development agenda while advancing the United Nations Sustainable Development Goals (SDGs), particularly Goal 8 (Decent Work and Economic Growth) and Goal 9 (Industry, Innovation, and Infrastructure).
