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The UAE's real GDP grew by 3.9% in 2024, with projections of 4.7% for 2025, driven by strong oil and non-oil sector performances. Non-oil foreign trade surged by 13.8%, while the banking sector's assets reached Dh4.56 trillion, reflecting a 12% growth. Key initiatives included the launch of the domestic card scheme "Jaywan" and the "Aani" instant payment platform, alongside significant Emiratisation efforts, resulting in over 2,800 UAE nationals employed in financial institutions.
Dubai's real estate market surged to AED 114.08 billion (approximately $31 billion) in Q1 2025, marking a 29.19% annual growth. Total transactions rose by 23.11% to 42,269, driven by strong demand in both off-plan and ready property segments. The rental market also thrived, with average rents increasing by 14%, particularly in Dubai South and Al Furjan, which saw growth rates of 26.37% and 21.56%, respectively.
Telecommunication provider e& UAE is testing the 6 GHz and 600 MHz spectrum bands to achieve ultra-fast 10 Gbps speeds and extend 5G coverage beyond 6 km. These advancements promise enhanced connectivity for homes and businesses, supporting smart city initiatives and contributing to the UAE's digital economy. The initiative positions the UAE as a leader in next-generation wireless technology, paving the way for 5G-Advanced and future 6G developments.
Cairo-based startup Stakpak has secured $500,000 in pre-seed funding to enhance DevOps management through its AI-powered platform, which significantly reduces infrastructure management time. Founded by George Fahmy, Stakpak aims to address the bottlenecks developers face, leveraging AI to automate tasks that typically take hours. The investment will support its growth and product development, positioning it as a key player in the global DevOps automation market.
e& Egypt has launched an instant international money transfer service via its e& Cash wallet, allowing users to receive funds from the UAE and Saudi Arabia with just one click, enhancing financial inclusion. This initiative, part of a partnership with Banque du Caire, aims to simplify cross-border transactions and support Egypt's digital transformation efforts. The service is currently available to e& Egypt's e-wallet customers, with plans for future expansion to more countries.
The UAE has introduced new corporate tax rules for Qualifying Investment Funds (QIFs) and Qualifying Limited Partnerships (QLPs) to enhance investment and economic growth. Income from QIFs is exempt from corporate tax if certain conditions are met, including a 10% real estate asset threshold. The updated regulations also provide flexibility for ownership diversity breaches and simplify compliance for foreign investors in Real Estate Investment Trusts (REITs) and QIFs.
The UAE's hotel sector generated Dh45 billion in 2024, a 3% increase from the previous year, with occupancy rates reaching 78%. The country welcomed approximately 30.8 million guests, achieving 77% of its National Tourism Strategy 2031 target ahead of schedule. In 2025, various events and campaigns will promote Al Ain as the Gulf Tourism Capital.
Mining Grid is set to launch ‘Cores Racing,’ a competitive and community-driven Bitcoin mining model aimed at restoring fairness and engagement in the mining process. This innovative system rewards participants based on each newly mined Bitcoin block, enhancing accessibility and inclusivity in the industry. With over 50,000 app users, the initiative reflects a growing demand for equitable mining solutions amidst rising difficulty levels and institutional dominance.
The UAE's outstanding bonds and sukuk reached $309.4 billion in Q1 2025, marking an 8.3% increase from the previous year. Sukuk accounted for 20.2% of this total, with new issuances hitting $4.9 billion, while bond issuances stood at $24.1 billion. The UAE ranks fourth globally in sukuk market share and second in the GCC for outstanding debt, holding 30% of the region's total.
Investor appetite in the GCC remains robust, particularly in Saudi Arabia and the UAE, with a notable shift towards quality issuers and specific sectors like tech, healthcare, and education. The recent Alpha Data IPO demonstrated strong investor confidence, highlighting a growing interest in profitable tech companies. Looking ahead, EFG Hermes anticipates significant IPO opportunities in consumer, healthcare, and education sectors, emphasizing early engagement with prospective issuers to align strategies effectively.
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