It’s been a busy year for Dubai’s real estate sector, with the value of transactions exceeding AED 100 billion during the first five months alone.
In fact, the real estate sector contributed to more than 13 per cent of Dubai’s GDP last year.
According to the Land Department's latest report, 48 new projects were launched during the period and they’re expected to add around 8,000 residential units on completion.
These include a mix of apartments, villas, and townhouses spanning a total area of 730,000 square metres.
Meanwhile, in 2018, Dubai witnessed around 53,000 transactions worth AED 223 billion, with the real estate sector contributing to 13.6 per cent of the emirate's GDP.
New investors accounted for the bulk of the deals, with Business Bay being the most active location.
Emiratis and Indians topped the list of investors.
Jaguar Land Rover will pause shipments of its Britain-made cars to the United States for a month, it said on Saturday, as it considers how to mitigate the cost of President Donald Trump's 25% tariff.
U.S. customs agents began collecting President Donald Trump's unilateral 10% tariff on all imports from many countries on Saturday, with higher levies on goods from 57 larger trading partners due to start next week.
The tech-heavy Nasdaq Composite index was set to confirm it was in a bear market on Friday, down more than 20 per cent from a recent record high, as investors fled riskier assets on fears that tariffs imposed by President Donald Trump could spark a trade war and tip the global economy into recession.
UAE-based Dana Gas and Crescent Petroleum, alongside their partners in the Pearl Petroleum consortium, have said the cumulative production from their Khor Mor project, the largest non-associated gas field in Iraq, has exceeded 500 million barrels of oil equivalent (boe).
China has announced a slew of additional tariffs and restrictions against US goods as a countermeasure to sweeping tariffs imposed by US President Donald Trump. The Finance Ministry said it would impose additional tariffs of 34 per cent on all US goods from April 10.
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