Latest news with #SulaimanTM
See - Sada Elbalad
27-03-2025
- Business
- See - Sada Elbalad
Dubai Prepares to Launch New Gold Center to Meet Growing Demand
Waleed Farouk The Emirate of Dubai, which has established itself as a leading global destination for gold, jewelry, and diamond trading, is preparing to launch a new gold center to meet the growing demand from residents and tourists visiting the city to purchase gold and diamond jewelry, especially during social occasions such as holidays and weddings. According to estimates by market research firm Statista, the value of the global jewelry market is expected to rise from $270 billion in 2022 to more than $330 billion by 2026. In 2024, Dubai recorded unprecedented levels of demand for gold, with the total value of gold traded in the fourth quarter reaching $111 billion, and the annual value reaching an all-time high of $382 billion, according to a recent report based on data from the World Gold Council. The report indicated that gold trade flows in Dubai witnessed a 300% increase between 2023 and 2024, reflecting the growing demand for the precious metal. According to the report, the UAE ranked second globally in per capita gold jewelry demand, with an average of 5.07 grams, ahead of Switzerland (4.06 grams) and Kuwait (3.95 grams), while Hong Kong ranked first with an average of 5.12 grams. Despite a slight decline in consumption during the first half of 2024, the UAE remains the fifth-largest global market for gold jewelry, thanks to its high per capita GDP, the cultural significance of gold, tax exemptions, and the strength of the tourism and retail sectors. Amid this rapid growth, Sulaiman TM, Chairman of Unique World Group, emphasized the need to develop a new gold center in Bur Dubai to meet the growing demand. Sulaiman said, "Along with population growth and the increasing purchasing power of consumers, we expect a significant increase in demand for gold and diamond jewelry in the coming years, necessitating the creation of a new center to meet the needs of both resident and tourist shoppers." He noted that extensive discussions with leading jewelers revealed an urgent need for this project, confirming that the new center will be completed soon. For his part, Mohammed Suhaib, General Manager of Unique World Group, said, "With Dubai's population expected to exceed 3.8 million, and the UAE's population expected to exceed 10.8 million, the establishment of a new gold and lifestyle center is a necessary step to support this growing sector." He added, "The annual increase in the number of tourists, for whom gold and diamonds are an essential part of their shopping lists, necessitates the development of a new destination that offers shoppers the latest designs and finest products." read more CBE: Deposits in Local Currency Hit EGP 5.25 Trillion Morocco Plans to Spend $1 Billion to Mitigate Drought Effect Gov't Approves Final Version of State Ownership Policy Document Egypt's Economy Expected to Grow 5% by the end of 2022/23- Minister Qatar Agrees to Supply Germany with LNG for 15 Years Business Oil Prices Descend amid Anticipation of Additional US Strategic Petroleum Reserves Business Suez Canal Records $704 Million, Historically Highest Monthly Revenue Business Egypt's Stock Exchange Earns EGP 4.9 Billion on Tuesday Business Wheat delivery season commences on April 15 News Egypt confirms denial of airspace access to US B-52 bombers News Ayat Khaddoura's Final Video Captures Bombardment of Beit Lahia News Australia Fines Telegram $600,000 Over Terrorism, Child Abuse Content Lifestyle Pistachio and Raspberry Cheesecake Domes Recipe Videos & Features Bouchra Dahlab Crowned Miss Arab World 2025 .. Reem Ganzoury Wins Miss Arab Africa Title (VIDEO) News Ireland Replaces Former Israeli Embassy with Palestinian Museum News Israeli PM Diagnosed with Stage 3 Prostate Cancer Lifestyle Maguy Farah Reveals 2025 Expectations for Pisces News Prime Minister Moustafa Madbouly Inaugurates Two Indian Companies Sports Neymar Announced for Brazil's Preliminary List for 2026 FIFA World Cup Qualifiers
Zawya
27-03-2025
- Business
- Zawya
Dubai set to open a new gold hub that will boost the $382bln annual jewellery sale
Dubai, UAE: Dubai, which has solidified its position as the world's best destination for gold and diamond jewellery as well as bullion trade, is in need of a new gold hub, that could cater to a wider consumer base amongst UAE residents and tourists, many of whom visit Dubai to buy gold and diamond jewellery for social occasions including festive shopping and weddings. The value of the jewellery market is expected to increase from about US$270 billion in 2022 to over US$330 billion by 2026, according to Statista, a global market intelligence provider. In 2024, Dubai's gold demand reached previously unseen levels, with the combination of record gold prices and volumes resulting in a Q4 value of US$111 billion and an annual value of US$382 billion, the highest ever, a recent report said, citing statistics released by World Gold Council. 'There was a 300 percent increase in gold trade flow in Dubai from 2023 to 2024, reflecting the city's growing appetite for gold,' said the report. As of 2024, the UAE ranked second globally in per capita consumer demand for gold jewellery, with 5.07 grams, trailing only Hong Kong's 5.12 grams. Gold prices ranged between $1,812 and $2,142 in 2023, but as of 2024, prices reached as high as $2,700, marking a bullish trend with substantial yearly growth. 'Despite a decline in consumption in the initial two quarters of 2024, the UAE maintains its position as the world's fifth-largest market for gold jewellery. This high demand is attributed to the nation's high GDP per capita, the cultural importance of gold, tax-free shopping, robust tourism and retail sectors, and gold's status as a secure investment,' according to recent research by the World Gold Council. 'These elements, coupled with aggressive marketing and accessibility, significantly boost gold consumption.' The UAE's annual gold jewellery demand stands at nearly 40 tonnes, tying with Russia and followed by Saudi Arabia at the 7th position. Historically, the age-old Dubai Gold Souq has been catering to the growing needs of jewellery and has been serving the residents and tourists very well. However, the increase in demand for gold and diamond jewellery in the Middle East, Africa, South and Central Asia, the City of Gold now needs a new Gold Hub. Mr. Sulaiman TM, Chairman of Unique World Group, says, 'In addition to the increase in population and increased buying power of consumers, we anticipate an increase in demand for gold and diamond jewellery in the coming years that necessitates the development of a second Gold and Lifestyle Hub in Bur Dubai, where residents and tourists could shop jewellery at their convenience. 'Following a series of discussions with the leading gold and diamond jewellery retailers, we have seen the demand for such a new Gold Hub and I am glad to announce that such a new Gold Hub will see the daylight soon.' Gold, with an estimated market cap of $15.8 trillion, has experienced a nearly 20 percent increase in value over the past year. Other nations with high per capita consumer demand for gold include Switzerland (4.06 grams), Kuwait (3.95 grams), Turkey (2.34 grams), Singapore (2.21 grams), Saudi Arabia (1.59 grams), Australia (0.90 grams), Iran (0.83 grams), and the US (0.74 grams). The research also reveals that the United States holds the largest gold reserves globally, amounting to 8,133 tonnes valued at $507 billion. The gold bar and coin sector sees greater demand in China than anywhere else. This strong investment demand naturally propels the popularity of gold bars and coins, reaching 280 tonnes. China surpassed India in 2023 to become the world's top consumer of gold jewellery, with a demand of 630 tonnes, a 10 percent year-on-year increase. India follows with jewellery demand totaling 562 tonnes in 2023. India also ranks among the top ten nations with the highest gold reserves, holding approximately 804 tonnes worth $50 billion. Mr. Mohammed Suhaib, Managing Director of Unique World Group, says, the new Gold Destination will help jewellery sales to accelerate further. 'As the population of Dubai and UAE increases rapidly – to cross 3.8 million in Dubai and 10.8 million in the UAE – we see the creation of a new Gold and Lifestyle Hub an important step in facilitating this industry to grow further,' Mohammed Suhaib said. 'In addition to the population growth, a jump in annual tourist inflow – many of whom have gold and diamond in their shopping list – will require a new Gold and Lifestyle Hub that will help shoppers to hunt for new and trendy collection.' Unique World Group is a Dubai-based diversified business conglomerate with interests in Business Centre, Education and Real Estate sectors, and is currently embarking on a new more diversified growth trajectory. Unique World Group, established by Mr. Sulaiman TM, a non-resident Indian serial entrepreneur from Kerala state, has demonstrated leadership in all the areas that he had ventured in – in the UAE. Over the last 27 years, the group has grown from strength to strength with a vision to continuously grow and expand, leveraging the power of digitalisation and innovation. In more than a quarter of a century, the group helped thousands of new businesses with business advisory services, trade licenses, office facilities and a bouquet of business enabling services to help them establish in the UAE. The company actively seeks new opportunities and partnerships, aiming to improve, evolve, and establish itself as an industry leader in the Business Centre, Education, and Real Estate sectors. He and Muhammed Suhaib, the scion of the family, are now getting ready to embark on a new journey that will add greater value to Dubai's economy. Established in 1998, Unique World Group currently manages a portfolio of five business centres, educational institutions and a number of real estate assets in the UAE with a team of more than 100 professionals working day and night to expand the group's business into new economic sectors. Over the last 27 years, the Group has evolved from a small business into a formidable corporate entity, mirroring Dubai's remarkable economic success. Through its business, the group has impacted more than 500,000 businesses with a substantial number of satisfied clients. About Unique World Group Unique Group is a renowned business conglomerate with a legacy of excellence and strategic expansion. Established in 1998 in the UAE by visionary entrepreneur Sulaiman TM and a team of business enthusiasts, the Group has steadily built a reputation for delivering exceptional customer experiences across multiple industries. Now with Mohammed Suhaib leading at the forefront as the Managing Director and next-gen leader, Unique Group continues to set itself apart through its commitment to quality, integrity, and innovation. As the company grew, it expanded its offerings beyond its initial focus, venturing into key sectors such as real estate, contracting, and business services. With a forward-thinking approach, Unique Group continuously adapts to evolving market trends, ensuring that its services remain relevant, efficient, and impactful. This strategic diversification has allowed the Group to establish itself as a trusted leader in the UAE and beyond. At the core of Unique Group's success is its dedication to customer satisfaction and operational excellence. By fostering a culture of innovation and collaboration, the company has developed solutions that empower businesses, drive economic growth, and enhance the overall business landscape. Its ability to blend expertise with cutting-edge strategies has solidified its position as a trailblazer in the industry. Today, Unique Group continues to push boundaries, embracing new opportunities and setting higher benchmarks in service excellence. With a strong foundation built on trust and strategic vision, the Group remains committed to shaping the future of business in the region, ensuring long-term success for its clients, partners, and stakeholders.
Zawya
24-03-2025
- Business
- Zawya
Unique World Group charts a new chapter in its 27-year journey that will see the creation of a new hub in Dubai
Dubai, UAE: Unique World Group, a Dubai-based diversified business conglomerate with interests in Business Centre, Education and Real Estate sectors, is embarking on a new project that will create a new retail hub in the middle of Dubai's residential communities that is set to widen the choice of shoppers – both domestic and international. Unique World Group, established by Mr. Sulaiman TM, a non-resident Indian serial entrepreneur from Kerala state, has demonstrated leadership in all the areas that he had ventured in – in the UAE. Over the last 27 years, the Group has grown from strength to strength with a vision to continuous grow and expand, leveraging the power of digitalisation and innovation. In more than a quarter of a century, the Group helped thousands of new businesses with business advisory services, trade licenses, office facilities, and a bouquet of business enabling services to help them establish in the UAE. The company actively seeks new opportunities and partnerships, aiming to improve, evolve, and establish itself as an industry leader in the Business Centre, Education, and Real Estate sectors. He and Muhammed Suhaib, the scion of the family, are now getting ready to embark of a new journey that will add greater value to Dubai's economy. Established in 1998, Unique World Group currently manages a portfolio of five business centres, educational institutions, and a number of real estate assets in the UAE with a team of more than 100 professionals working day and night to expand the Group's business into new economic sectors. Over the last 27 years, the Group has evolved from a small business into a formidable corporate entity, mirroring Dubai's remarkable economic success. Through its business, the group has impacted more than 500,000 businesses with more than 2,000 satisfied clients. 'As we embark on a new venture which we will unveil after Eid holidays, we would like to express our deep appreciation to the visionary leadership of the UAE for creating a world-class business environment that has been instrumental in our success, Mr. Sulaiman TM, Chairman of Unique World Group, says. 'The nation's commitment to creating a pro-business enabling environment, coupled with its strategic vision, has allowed companies like ours to thrive. Unique World Group is proud to contribute to this vibrant economy by delivering exceptional services that drive growth and innovation. 'We remain deeply committed in our resolve to support the UAE economy in our own humble way. Our next business venture will create a hub for a particular sector in Dubai. This reflects our long-term commitment to Dubai and our resolve to offer the best for its economy.' Dubai's strategic initiatives have positioned it as a global nexus for business and innovation. The city's economy is expected to grow steadily, with GDP projected to increase by 4.9 percent in 2025. This economic dynamism has fostered an environment ripe with opportunities for enterprises like Unique World Group to flourish. Under the stewardship of Mr. Mohammed Suhaib, Managing Director of Unique World Group, the Group is poised for its next phase of expansion. His strategic focus on digital transformation, operational excellence, and sustainable practices aligns seamlessly with Dubai's forward-thinking agenda. The city's emphasis on technological advancement and smart infrastructure provides a fertile ground for the Group's innovative initiatives. Mr. Mohammed Suhaib has been closely involved in the business alongside his father for over 12 years, gaining extensive expertise in strategic decision-making. His deep understanding of market dynamics and leadership acumen has played a pivotal role in driving the Group's success. With a keen eye on diversification, he envisions entering new markets in a highly creative and strategic manner, leveraging innovation to stay ahead of industry trends. Mr. Mohammed Suhaib, Managing Director of Unique World Group, says, 'Building upon my father's legacy is both an honour and a responsibility. At Unique World Group, we are committed to embracing innovation and sustainability to drive our growth. As Dubai continues its ascent as a global business hub, we aim to contribute by offering cutting-edge solutions that meet the evolving needs of our clients.' Unique World Group has established a strong presence in the business services sector, operating five state-of-the-art business centres across key locations in Dubai, including Al Karama, Al Qusais, and Deira, with a new centre set to launch in Oud Mehta. These centres provide flexible workspace solutions, administrative support, and business setup services, catering to the growing needs of startups, SMEs, and multinational corporations looking to establish a foothold in the UAE's thriving business ecosystem. By offering modern and well-equipped office spaces, Unique World Group continues to support Dubai's position as a global business hub. Beyond business services, Unique World Group has made significant investments in real estate and education, contributing to the city's urban development and knowledge economy. The Group's real estate division focuses on developing premium commercial and residential properties, enhancing Dubai's skyline with modern living and retail spaces that align with the city's ambitious growth plans. In the education sector, the Group is dedicated to establishing innovative educational institutions that emphasize holistic development, integrating advanced technologies, and future-ready curricula to equip students with the skills needed to succeed in a rapidly evolving world. Through these strategic investments, Unique World Group continues to shape industries and drive meaningful progress in the UAE. Dubai's commitment to economic diversification and sustainable development resonates with Unique World Group's core values of integrity, excellence, and innovation. The city's strategic location, coupled with its robust infrastructure and business-friendly policies, continues to attract global investors and entrepreneurs, creating a dynamic ecosystem for businesses to thrive. As Dubai's economy is projected to grow steadily, with GDP projected to increase by 4.9% in 2025, Unique World Group is well-positioned to capitalise on emerging opportunities. The Group's focus on digitalisation, sustainability, and customer-centric solutions ensures its readiness to meet the evolving demands of the market. The success of Unique World Group is underpinned by its dedicated workforce of over 100 professionals. The Group fosters a culture of collaboration, continuous learning, and innovation, empowering employees to excel and contribute to the company's growth. Looking ahead, Unique World Group aims to expand its footprint both locally and internationally. By leveraging Dubai's strategic position as a global trade hub, the Group plans to explore new markets and forge strategic partnerships that align with its vision of sustainable growth and excellence. Unique World Group's journey from a modest enterprise to a leading conglomerate epitomises the spirit of Dubai's entrepreneurial landscape. With a steadfast commitment to innovation, quality, and customer satisfaction, the Group is poised to contribute significantly to Dubai's economic narrative, driving progress and setting new benchmarks in the industries it serves. About Unique World Group Unique Group is a renowned business conglomerate with a legacy of excellence and strategic expansion. Established in 1998 in the UAE by visionary entrepreneur Sulaiman TM and a team of business enthusiasts, the Group has steadily built a reputation for delivering exceptional customer experiences across multiple industries. From its early days, Unique Group set itself apart through its commitment to quality, integrity, and innovation. As the company grew, it expanded its offerings beyond its initial focus, venturing into key sectors such as real estate, contracting, and business services. With a forward-thinking approach, Unique Group continuously adapts to evolving market trends, ensuring that its services remain relevant, efficient, and impactful. This strategic diversification has allowed the Group to establish itself as a trusted leader in the UAE and beyond. At the core of Unique Group's success is its dedication to customer satisfaction and operational excellence. By fostering a culture of innovation and collaboration, the company has developed solutions that empower businesses, drive economic growth, and enhance the overall business landscape. Its ability to blend expertise with cutting-edge strategies has solidified its position as a trailblazer in the industry. Today, Unique Group continues to push boundaries, embracing new opportunities and setting higher benchmarks in service excellence. With a strong foundation built on trust and strategic vision, the Group remains committed to shaping the future of business in the region, ensuring long-term success for its clients, partners, and stakeholders. Web:
