Business & Money | Sunday 4 August, 2024 3:59 pm

AlUla Development Company signs partnership agreement with Live Nation Arabia to operate Maraya

AlUla Development Company, a PIF Company, has signed a three-year partnership agreement with leading live entertainment company, Live Nation Arabia to manage operations at Maraya and transform it into a premier entertainment venue that hosts a wide range of events including concerts, cultural...

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Business & Money | Sunday 4 August, 2024 11:05 am

Abu Dhabi sees 102% growth in documented residential rental contracts in H1-24

Abu Dhabi recorded a significant increase in documented residential rental contracts during the first half of 2024, with 49,135 contracts registered. This marks an increase of 24,811 contracts compared to the same period in 2023, reflecting a 102% year-on-year growth. According to data from...

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Business & Money | Sunday 4 August, 2024 10:42 am

NWC started implementing 17 projects in Eastern Province at SR +2.2B

 The National Water Company (NWC), represented by the Eastern Cluster, announced the start of the implementation of 17 key projects in the region at a cost of more than 2.2 billion Saudi Riyals. The projects target components of the environmental and water services system, including wastewater ...

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Business & Money | Sunday 4 August, 2024 10:33 am

Derayah REIT leases a hotel tower in Riyadh at SAR 6.5M annually

Derayah Financial, the fund manager of Derayah REIT Fund, announced leasing a tower, located in Al-Olaya Main Street in Riyadh, to a master tenant. In a Tadawul filing, the fund manager noted that the annual rent starts at SAR 5.5 million and escalates to SAR 7.5 million over the lease term,...

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Business & Money | Sunday 4 August, 2024 10:13 am

UAE's real estate sector on upward trajectory in H1 2024

The UAE's real estate sector continued to thrive and attract investment during the first half of 2024, supported by the country's economic and financial stability, and the launch of new world-class projects to meet the rising demand for various property units. According to a report by the...

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Business & Money | Saturday 3 August, 2024 1:03 pm

RAKEZ boosts business growth across sectors through targeted networking events

Ras Al Khaimah Economic Zone (RAKEZ) continues to drive business development and industry synergy through its dedicated series of networking events for local and global investors, highlighting its focus on fostering a collaborative business environment. Recognising the importance of collaboration...

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Business & Money | Saturday 3 August, 2024 12:56 pm

Agreement Between Ajman Department of Finance and Ajman Specialty General Hospital to Enhance Government Procurement System in the Emirate

The Ajman Department of Finance continues its efforts to achieve a qualitative shift in providing services related to government procurement in the emirate, having concluded a new service provision agreement with Ajman Specialty General Hospital. Through this agreement, the hospital will benefit...

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Business & Money | Saturday 3 August, 2024 12:47 pm

Dubai property sales rise to AED49.6 billion in July

Dubai’s real estate market has enjoyed another bumper month, with property sales in July reaching a new peak for 2024 at AED 49.6 billion, a 31.63% increase in value on the same month last year. A market update issued today by fäm Properties reveals that last month’s total of 15,994...

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Business & Money | Saturday 3 August, 2024 12:43 pm

GOSI says 124,000 establishments applied for delay penalty waiver

The General Organization for Social Insurance (GOSI) said more than 124,000 establishments applied for the initiative to waive delay and violation penalties just 30 days before the end of deadline.   In a statement, GOSI urged all establishments and employers to take advantage of the ...

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Business & Money | Saturday 3 August, 2024 12:35 pm

CBUAE, Dubai Courts sign MoU to link electronic services

The Central Bank of the UAE (CBUAE) and the Dubai Courts have signed a Memorandum of Understanding (MoU) aimed at linking electronic services related to the execution of judgments, orders, and decisions issued by the Dubai Courts through the Central Bank's court cases management system. The...

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