7th April 2025 - 14th April 2025 | WEEKLY BUSINESS ROUNDUP
April 14, 2025
First flying cars likely to hit UAE skies in 2027
Costing an estimated USD 799,000 per vehicle, first flying cars are likely to hit the UAE skies in 2027. Work is in progress for the world’s first commercially available flying car to debut in the United Arab Emirates by early 2027.
Business travel in the MENA surged by 50% in Q1 2025
Driven by economic growth and increasing corporate mobility, MENA business travel surged by 50% in Q1 2025. Rising demand for corporate travel solutions combined with positive economic sentiment in the region are key contributors to the increase in business travel in the Middle East and North Africa region. By 2030 MENA business travel market is expected to reach a revenue of over USD 270 billion.
Reports reveal UAE bank investments increase to AED 742.9 bn in January 2025
As per Central Bank of UAE’s banking indicators, UAE banks reported a 1% month-on-month increase in total investments, rising by AED7.3 billion to reach AED742.9 billion by January 2025. Other investments totalled AED 55.8 billion, up 13.2% year-on-year and 2.2% month-on-month.
Dubai reported to be home to more than 81000 millionaires
As per the World’s Wealthiest Cities Report 2025, Dubai climbed three positions to rank 18th as one of the world’s most dynamic wealth hub. As per latest reports Dubai is home to 81,200 resident millionaires, including 237 centi-millionaires and 20 billionaires.
In first 100 days of 2025, Dubai real estate achieves AED160 billion in sales
Dubai Land Department statistics revealed sales transactions between January 1 to April 10 stood at 50,853 in total. It is estimated within the first 100 days of 2025, the emirate’s real estate sector hit AED 160 billion in sales. Robust government incentives and supportive regulations are key in driving interest in Dubai’s real estate sector.
Dubai Crown Prince concluded India visit; bolstering bilateral ties
Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister, Minister of Defence, and Chairman of The Executive Council of Dubai concluded his first visit to India paving way for enhanced strategic economic cooperation across key sectors. Progress in the economic relationship marked a 20% increase in bilateral trade in 2024, reaching AED240 billion compared to 2023.
Dubai secures 2nd position globally as food tourism destination
Dubai has established itself as a leading destination for food tourism and one of the world’s fastest-growing gastronomy capitals in 2024. The emirate reportedly issued 1,200 new restaurant licences as the culinary sector gained momentum. Reports reveal customer satisfaction in the emirate reached 62%.
Dubai Duty Free records USD 565mn in Q1 2025 sales
Backed by a record performance in February, contributing AED709 million (USD 194 million) in monthly sales, Dubai Duty Free has reported Q1 2025 sales worth AED2.06 billion (USD 565 million). It is estimated daily sales in the first three months of 2025 reached an average of AED25.3 million (USD6.93 million) matching pace with passenger growth.
Dubai, Abu Dhabi rank in top 5 smart cities in IMD 2025 index
In a ranking of smart cities Dubai and Abu Dhabi ranked in the top 5 smart cities in the IMD 2025 index. Both UAE based cities made it to the top 10 smart city index (SCI) of IMD for the first time this year. The Index, now in its sixth year, is the tool that the World Competitiveness Center (WCC) uses to assess how cities balance various dimensions, ranging from jobs and housing to environmental concerns and inclusiveness.