WEEKLY BUSINESS ROUNDUP - 6 January 2025 – 13 January 2025
January 13, 2025
Growth in industrial sector financing drives economic diversification in UAE
Significant increase in financing within the UAE’s industrial sector was driven by robust support from both government and private entities. UAE based banks injected AED5.537 billion in funding for the manufacturing sector between January to September 2024, bringing the total loans to the sector to a historic peak of over AED94.85 billion, as per CBUAE.
UAE ranked as the fastest growing clean energy market in region
It is reported UAE's leading position in clean and renewable energy plays a pivotal role in stabilizing global energy markets. Driven by UAE the Energy Strategy 2050 and the National Hydrogen Strategy 2050, the UAE prioritizes a balanced approach, integrating traditional and clean energy sources.
24000 registered drones reported in UAE
As per the General Civil Aviation Authority (GCAA), there are 23,960 drones registered in the UAE. It is reported 93 companies and 270 individuals have registered their drones via the UAE Drones Unified Platform, a centralized drone registration and regulation hub. GCCA has outlined specific operational requirements for drone users to ensure high levels of safety.
UAE and Mexico set to bolster USD2.6bn trade relations
UAE and Mexico collaborate to strengthen their trade and investment relations; focused on driving partnerships between their private sectors and business communities. In 2023, non-oil trade between the UAE and Mexico increased by 20.8% to USD2.6 billion, compared to USD2.1 billion in 2022. The positive trajectory between January to October 2024 surged to USD2.2 billion marking 1% increase compared to the same period in 2023.
UAE tech services market set to grow by USD3.8bn in 2025
Backed by AI and cloud computing growth the UAE’s tech services market is set to expand by USD 3.8bn. Areas such as artificial intelligence (AI), cloud computing, and emerging technologies like blockchain and the Internet of Things are expected to drive growth in the tech sector.
Remote working in UAE increases productivity by 4.6%
As per reports remote working in the UAE bolstered productivity by 4.6% and the country is keen to make remote working one of the primary ways of working. Further, it is estimated that remote working could bring down traffic congestion and reduce morning peak travel time across Dubai by 30%.
Dubai UAE GDP likely to stay strong in 2025-2027
With momentum of hydrocarbon production being on the rise, real GDP growth is likely to remain strong between 2025 – 2027, driven by robust non-hydrocarbon activity. Within the banking sector it is estimated risks will be in check and UAE banks are expected to maintain stable and strong capital buffers.
Dubai’s private schools record 6% enrolment growth in 2024-25 academic year
As per Dubai’s Knowledge and Human Development Authority (KHDA) the private school sector recorded 6% increase in student enrolment during the 2024-25 academic year, with a total of 387,441 students attending 227 private schools. Further 10 new private schools have been opened aligned to Dubai’s Education Strategy E33.
Ajman real estate transactions report 102% increase to USD 621m in December 2024
Ajman real estate sector reported more than 100% growth in December 2024 compared to December 2023. Real estate transactions in Ajman totaled AED2.28bn ($621m) in December 2024 as per the Department of Land and Real Estate Regulation.
