As Dubai’s realty sector could be in for a record summer of transactions, that could top US$ 40.0 billion, global luxury agency Whitewill has selected six UAE hotspots as top picks for property investment in 2025, noting that each offered a mix of strong rental yields, long-term appreciation and lifestyle appeal. The agency also noted that the UAE market had climbed 22.0% higher on the year, with Q1 topping US$ 142.7 billion, and that off-plan now accounted for 63% of all transactions. Two of the selections were Al Marjan Island, Ras Al Khaimah, and Yas Island, Abu Dhabi. The other four were all Dubai-based:
Dubai Creek Harbour it has seen a surge in investor interest due to its elegant skyline, green surroundings, and the under-construction Dubai Creek Tower
prices for waterfront apartments begin at US$ 395k, while villas can exceed US$ 1.36 million
average rental yields of 6.0% to 6.8%
Business Bay already known for its premium positioning beside Downtown and the DIFC
Studios and one- to two-bedroom apartments typically trade around US$ 381k
yields of up to 7% – driven largely by short-term rentals
Dubai South aligns with the UAE’s infrastructure vision and logistics future and from proximity to the Al Maktoum International Airport expansion and the Expo 2020 legacy district
Prices remain accessible – starting from US$ 218k
capital growth is projected between 15%–25% by 2030
rental yields of 6% to 8%
Jumeirah Village Circle continues to deliver strong returns for first-time investors and buy-to-let landlords and remains one of the most stable and in-demand affordable districts
apartments start at US$ 177k entry-level villas are available at US$ 436k
yields of 7.0% to 8.6%
Elkhan Salikhov, CEO of Elite Merit Real Estate, notes that “summer 2025 offers a compelling value window that we expect will close quickly by Q4. A convergence of factors – pricing still below peak, soft summer inventory pressure, and upcoming project handovers – is creating an ideal moment for experienced buyers.” In addition, other driving factors include developer incentives and buyer-friendly terms. Many analysts seem to consider that, by the end of the year, market sentiment will turn more competitive, with prices rebounding.
This week saw another major milestone for another Dubai community, with Jumeirah Islands posting its own record price, with a ‘Masterview’ villa being sold for nearly US$ 13 million; this sale enhances Jumeirah Islands as a prime destination for UHNW investors. The villa, which is on a 15.8k sq ft plot, with a built-up area of 7.5k sq ft, has five ensuite bedrooms, an integrated home automation system, and bespoke Italian furnishings.
The World Travel and Tourism Council estimates that the global travel and tourism sector, which accounts for 10% of the world GDP, added US$ 10.9 trillion to the world economy last year. It also noted that the industry accounts for 13.0% of the UAE’s economy, equating to US$ 70.10 billion – up 3.2% on the year and 26.0% higher on 2019 pre-Covid returns. HH Sheikh Mohammed bin Rashid praised the sector’s achievements, as it moved up to seventh in global rankings for international tourist spending. The top five source markets, accounting for 40% of the market, were India, UK, Russia, China and Saudi Arabia bagging 14%, 8%, 8%, 5% and 5% of the total. Last year, tourism spending topped US$ 74.66 billion, split 79.2:20.8 between international and domestic spend. The UAE Tourism Strategy 2031 aims to further boost the sector’s GDP contribution to US$ 122.62 billion and attract forty million hotel guests annually by then.
In the first five months of the year, Dubai witnessed a 6.9% hike in international tourist numbers to 8.68 million. The leading source markets, accounting for 87.5% of the total were:In the first five months of the year, Dubai witnessed a 6.9% hike in international tourist numbers to 8.68 million. The leading source markets, accounting for 87.5% of the total were:·
Western Europe 1.917 million 22.1%. Russia, CIS Countries and E Europe 1.396 million 16.1%. GCC 1.275 million 14.7% SouthAsia 1.240 million 14.3% MENA 0.989 million 11.4% NE & SE Asia 0.771 million 8.9%
Australia 0.141 million 1.6%
Americas 0.601 million 6.9%
Africa 0.346 million 4.0%
By the end of May 2025, Dubai’s hotel sector comprised eight hundred and twenty-five establishments, offering 153.4k rooms, compared to eight hundred and twenty two hotels with 150.2k rooms at the end of May 2024. Average hotel occupancy was up 2.0% to 83.0% during the first five months of 2025. The total number of occupied room nights was 4.1% higher at 19.09 million, with average stays of 3.8 nights. Average daily room rates rose 5.1% to US$ 169, and revenue per available room saw a 7.3% hike, reaching US$ 140.
To strengthen national identity and values, the Ministry of Education has announced that all private schools in the country must teach Arabic language, Islamic Studies and Social Studies. The move applies to all curricula, starting for the first time this August, at the start of the 2025/2026 academic year.
During the month, three credit agencies have assigned sovereign credit ratings for the UAE. All three gave the sovereign rating a stable outlook, with S&P, Moody’s and Firch assigning ‘AA’, ‘Aa2’ and ‘AA’- ratings respectively. Such levels show that international confidence in the UAE economy is high, and that it has enhanced its advanced fiscal standing and strengthened its position among the few countries globally with strong sovereign credit ratings from all three top agencies. HH Sheikh Maktoum bin Mohammed bin Rashid, noted that “the affirmation of the UAE’s strong sovereign rating by the world’s top three international credit rating agencies, and their consensus on a stable outlook, reflects the deep-rooted international confidence in the resilience of our national economy and the efficiency of our fiscal policies”, and that “this strengthens the UAE’s presence on the global economic map and reinforces its ability to confidently navigate regional and international changes and challenges — by expanding the investor base and enhancing the country’s reputation as a reliable and attractive destination in global capital markets”.
Yesterday, the Central Bank of UAE revised its GDP 2025 and 2026 growth forecasts by 0.3%, to 4.7% and 5.4%, due to lower oil prices, slower global economic activity and higher uncertainty. However, it will retain its position as the best-performing economy in the GCC region in 2025, and the second-fastest next year. Yesterday, S&P Global Market Intelligence forecast UAE growth levels to be 5.4% and 6.5% this year and next. The ratings agency is in agreement with the CBUAE that 2025 inflation will be 1.9%. For the non-oil sector, the Central Bank forecasts GDP growth of 4.5% and a steady growth rate in 2026.
The RTA, in collaboration with Emaar Properties, has announced plans to expand capacity at the Burj Khalifa-Dubai Mall Metro Station, by 65% to 220k passengers daily, to accommodate growing demand. The station’s area will be increased by 27% to 8.5k sq mt. There will be enhancements to entrances and pedestrian bridges, expansion of concourse and platform areas, installation of additional escalators and elevators, and separation of entry and exit gates to optimise passenger movement. Last year, it was estimated that 10.57 million passengers used the station, equating to some 58k passengers a day.
Twenty-one people of various nationalities have been convicted and fined almost US$ 7.0 million for a visa fraud. The Dubai Citizenship and Residency Prosecution found them guilty of illegally using three hundred and eighty-five residence visas to exploit people and operating phantom companies that they would abruptly close without regularising the status of the recruited workers.
This week the Central Bank of the UAE posted its figures from March:
- money supply aggregate M1 by 0.4% to US$ 268.72 billion due to a US$ 1.39 billion growth in currency in circulation outside banks, overriding the US$ 381 million decrease in monetary deposits
- money supply aggregate M2 increased by 3.3%, to US$ 664.22 billion, attributable to an elevated M1, and a US$ 20.11 billion increase in Quasi-Monetary Deposits
- money supply aggregate M3 also increased by 2.9%, to US$ 788.47 billion due to the growth in M2, and US$ 1.23 billion increase in government deposits
- monetary base by 2.0%, to US$ 227.00 billion, driven by increases in currency issued by 4.1% and in reserve account by 62.0%, overriding the decrease in banks & OFCs’ current accounts & overnight deposits of banks at CBUAE by 64.2% and in monetary bills & Islamic certificates of deposit by 6.3%
- gross banks’ assets, including bankers’ acceptances, by 1.9% to US$ 1,285.94 billion
- gross credit by 1.6% to US$ 610.35 billion due to the combined growth in domestic credit by US$ 5.31 billion and foreign credit by US$ 4.41 billion
- domestic credit was due to increases in credit to the public sector (government-related entities) by 0.2%, private sector by 1.4% and non-banking financial institutions by 1.9%, while credit to the government sector decreased by 0.3%
- banks’ deposits by 2.3% to US$ 800.11 billion, driven by the shared growth in resident deposits by 2.4%, settling at US$ 732.37 billion and in non-resident deposits by 0.4%, reaching US$ 677.38 billion
Pursuant to Article 137 of the Decretal Federal Law No. 14 of 2018 regarding the Central Bank and Organisation of Financial Institutions and Activities, and its amendments, the Central Bank of the UAE imposed a financial sanction of US$ 545k on an exchange house operating in the country. It was reported that it had failed to comply with AML/CFT policies and procedures.
An unnamed bank has been banned from onboarding new customers, for six months, on its Islamic Window, by the Central Bank of the UAE and imposed a US$ 954k financial sanction; this is in pursuant to Article 137 of the Decretal Federal Law No. (14) of 2018 regarding the Central Bank and Organisation of Financial Institutions and Activities, and its amendments. This resulted from the CBUAE’s Sharia supervision examinations revealed the bank’s non-compliance with the instructions related to Sharia Governance of the Islamic Window.
Founded in 2000, as the region’s pioneer financial services provider, Amlak Finance PJSC has had a chequered life. Four years later, in 2004, it was converted to a Public Joint Stock Company, with the aim of providing its customers with innovative, Sharia-compliant property financing products and solutions designed to meet the rapidly evolving market demands. However, ever since the 2008 GFC, and the collapse of the Dubai property market, Amlak, like other Dubai real estate-related companies, was badly impacted. The company was delisted from the DFM and was involved in various debt restructuring plans, one of which was a move by the government to significantly reduce its debt; it also formed a government-appointed committee to oversee the restructuring process. Despite all these efforts, the company’s debt was heading in the other direction, with the loss widening attributable to fair value losses on its investment properties and impairments on its financing assets. Over the past four years, Amlak has managed to stem the losses so that by Q1 2025, it posted its first quarterly profit. The finance company also announced that it had settled 91% of its Islamic deposits to date, including Mudaraba Instrument obligations related to financiers.
An important shareholders’ meeting, to be held next Monday, 30 June, will decide whether the finance company can exit from the real estate portfolio; if successful, Amlak could sell financial contracts that it currently holds to other institutions, and also exit finance contracts through ‘mutual agreement’ with customers. Shareholders will also get the chance to authorise the Amlak Board of Directors – or any person authorised by the Board – to ‘approve such transaction and offer discounts and waivers as may be deemed necessary to undertake such transactions’. Amlak shareholders will also need to approve the transferring the balance of the legal reserve and special reserve – totalling US$ 83 million and US$ 27 million, respectively – to offset the company’s accumulated losses. It will receive another financial boost, as it is working on a US$ 812 million land deal, with Emaar Properties. It does seem that Monday’s meeting could be make or break for Amlak – and the market seems to agree with its share value over 90% higher over the past month to US$ 0.441, (AED 1.62).
Because of the Hijri New Year falling today, on 27 June, the bourse was closed. Emaar Properties, US$ 0.26 lower the previous fortnight, gained US$ 0.28, closing on US$ 3.66 by the end of the week. DEWA, Emirates NBD, DIB and DFM started the previous week on US$ 0.74 US$ 5.76 US$ 2.28 and US$ 0.41 and closed on US$ 0.75, US$ 6.27, US$ 2.32 and US$ 0.46. On 26 June, trading was at two hundred and eighty-two million shares, with a value of US$ two hundred and forty-six million dollars, compared to two hundred and eighty-two million shares, with a value of US$ two hundred and forty-six million dollars, on 20 June 2025.
By Friday, 27 June 2025, Brent, US$ 13.10 higher (20.6%) the previous three weeks, shed US$ 9.61 (12.5%) to close on US$ 67.07. Gold, US$ 68 (2.0%) lower the previous week, shed a further US$ 68 (2.0%) to end the week’s trading at US$ 3,317, in early Friday morning, trading on 27 June.
Figures from the European Automobile Manufacturers Association indicate that Tesla is still struggling with numbers. May European sales have fallen for the fifth consecutive month, and at 8.7k EVs sold in the month, the figure was some 40.5% lower than the 14.7k sold this time last year. Tesla also saw its share of the European market almost halve from 1.6% to 0.9%. Tesla must be concerned that having relied on the updated Model Y to regain ground in Europe, it has been usurped by cheaper Chinese electric cars, amid controversy around the political views of Elon Musk. Indeed, May saw Skoda, selling more vehicles, overtake Tesla.
In the UK, the Society of Motor Manufacturers and Traders noted that US car exports slumped 55.4% in May, following a 3.0% dip in April. The slowdown was largely down to the 25% Trump tariff – and the uncertainty around it – which led to Jaguar Land Rover, the UK’s biggest exporter of cars to the US, to suspend all shipments temporarily. The latest news is that the 25% tariff has been dropped to 10% for the first 100k vehicles. May production fell by 33.0% to 49.8k vehicles – the worst performance for May, when the COVID years were excluded, since 1949. Meanwhile, the number of vehicles produced for the domestic market fell while shipments to the EU, were down by 22.5%.
Becoming the first GCC country to do so, The Sultanate of Oman has announced that, as from 2028, there will be a 5.0% income tax on those whose annual income exceeds 42k Omani riyals (US$ 109k) from 2028. The twin aims of the Personal Income Tax Law No 56/2025, is to diversify income sources of the government and reduce dependence on oil revenues. To date, the UAE, and the other four countries of the bloc, have introduced VAT and corporate income tax; the UAE also levied tax on tobacco and carbonated drinks in order to encourage healthy lifestyles among the residents. It is expected that about 99% of the population will not be subject to the tax and there will be exemptions; these include deductions and exemptions accounting for social considerations in the Sultanate of Oman, such as education, healthcare, inheritance, zakat, donations, primary housing, and other factors.
In the first five months of 2025, the actual use of foreign direct investment in China’s high-tech industries reached US$ 15.17 billion. Reports indicated that:
- the FDI in the e-commerce services sector by 146.0%
- the aerospace equipment manufacturing sector by 74.9%
- the chemical pharmaceutical manufacturing sector by 59.2%
- the medical instrument and equipment manufacturing sector by 20.0%
So far this year, foreign-funded enterprises have focused on modern service industries and advanced manufacturing, continuously expanding and deepening their investment in China, indicating that country’s potential for foreign investment.
As from 01 June to 19 June, (covering fourteen working days, 0.5 days lower than the same period in 2024), Republic of Korea’s exports were 8.3% higher on the year, driven by solid demand for semiconductors, as outbound shipments reached US$ 38.67 billion, with the daily average volume of exports increasing 12.2%. As imports increased 5.3%, in the period to US$ 36.1 billion, there was a trade surplus of US$ 2.6 billion. Exports of semiconductors surged 21.8% to US$ 8.85 billion, with chip exports, 2.5% higher, accounting for 22.9% of the country’s total exports. Automobile exports were 9.2% higher at US$ 3.65 billion, while shipments of vessels jumped 47.9% to US$ 1.58 billion. Exports to the US and the EU came in 4.3% and 23.5% higher, partly offset by a 1.0% decline in exports to China, the country’s top trading partner.
The Australian Council of Superannuation Investors’ annual review has shown that termination payments for ASX 200 company CEOs have dropped to the lowest level in fifteen years. Total termination payouts have dropped, by 75.0%, to US$ 5.44 million in the fiscal year ending 30 June 2024, down from US$ 21.68 million the previous year. This could be due to fewer CEOs leaving, with the average payout dipping 29.2% to US$ 906k. It is estimated that the average ASX 100 leader “earns” more than fifty-five times the average earnings of an Australian worker, compared to fifty times a year earlier, but a lot less than the seventy-one times posted in 2014.To the casual observer, this difference seems to be obscene but it is nothing compared to the one hundred and six times median salaries in the UK and in the US – that can go as high as three hundred times for the largest companies.
In Australia, top of the charts was US-based Robert Thomson, who runs News Corporation and earns almost US$ 27 million, with the only woman on the list, Shemara Wikramanayaka, CEO of Macquarie Group, making just over US$ 19 million last financial year. The median realised pay for ASX 100 leaders, which includes fixed pay and bonuses received, was 3.5% higher than in 2014, at $4.1 million. Corporate governance expert Helen Bird from Swinburne University said the two-strike rule against remuneration had a dampening effect on pay rises. It is designed to hold directors accountable for executive salaries and bonuses. That is because if shareholders vote against a company’s remuneration report two years in a row, the entire company board can face re-election.
While salaries at the very top end of town have been (relatively) constrained in recent years, the bosses of smaller listed companies have been enjoying increasingly generous paydays. The highest-paid Australian-based chief executive was Lovisa boss Victor Herrero. The jewellery chain has a market capitalisation of US$ 2.4 billion – in comparison, the Commonwealth Bank’s market value is around US$ 207 billion. CEO pay at smaller listed companies has increased over time, with the median climbing 26.4% from US$ 1.14 million in 2014 to US$ 1.74 million in 2024. Most chief executives received a bonus in 2024, with just five of the one hundred and forty-two eligible leaders missing out altogether, with most tied to company performance. The five were Richard White, Tony Lombardo, Tom Beregi, Mark Allsion, Jamie Pherous and Julian Fowles of Lendlease, Credit Corp, Elders, Corporate Travel Management and Karoon Energy. The median CEO bonus was paid at just under 66% of the maximum, which is in line with the long-term trend.
Prior to the events of last week, the ECB reduced its forecast for global growth, by 0.4% to 3.1%, mainly attributable to Trump tariffs and rising uncertainty surrounding international trade policies. The 2026 outlook is even gloomier slumping by 1.4% to 1.7%. However, on the other hand, the central bank did note several positive factors that could support the eurozone economy and enhance its resilience, including increased government spending on defence and infrastructure, rising real household income, a strong labour market, and improving financing conditions. It seems that this forecast is already out of date bearing in mind the events of last weekend and the US attack on Iranian nuclear sites.
Amazon is planning to open four new facilities – two huge fulfilment centres, to be located in the East Midlands, and two others, in Hull and Northampton which had already been announced; the former two will be operational in 2027, (and employ 2k), with the latter two slated to begin next year. These are part of its strategy to expand operations in the UK and to invest up to US$ 55 billion, over the next three years, in the process. Its current workforce is around 75k, making it one of the country’s biggest employers. Apart from two new structures, at its corporate headquarters in east London, other investments include new delivery stations, upgrading its transport network and redeveloping Bray Film Studios in Berkshire – which it acquired in 2025. This investment will make the UK Amazon’s third-biggest market after the US and Germany. Despite this positive press, the US behemoth continues to raise concerns among some regulators, unions and campaigners. The latest reports that the UK grocery regulator launched an investigation into whether it breached rules on supplier payments. This week, it found that almost 34% of Amazon’s UK grocery suppliers say it “rarely” or “never” complies with industry rules governing fair treatment. Meanwhile, its founder Jeff Bezos is in Venice preparing for ‘the wedding of the century’ to Lauren Sánchez.
Following this week’s summit in The Hague, Nato leaders have succumbed to Trump’s demands and have finally agreed to boost defence spending to 5% of their countries’ economic output by 2035; the US President noted that this was a “big win for Europe and… Western civilisation”. Although not including a condemnation of Russia’s invasion of Ukraine, as it had a year ago, the joint statement reaffirmed their “ironclad commitment” to the principle that an attack on one Nato member would lead to a response from the full alliance, and that they were united against “profound” security challenges, singling out the “long-term threat posed by Russia” and terrorism.
The impact of Trump tariffs can be seen looking at the latest April WTO Goods Trade Barometer which rose 0.7 to 103.5, while the forward-looking new export orders index fell to 97.9, pointing to weaker trade growth later in the year. The decline in export orders and the temporary nature of frontloading suggest that trade growth may slow in the months ahead as enterprises import less and start to draw down accumulated inventories. (Barometer values greater than 100 are associated with above-trend trade volumes, while barometer values less than 100 suggest that goods trade has either fallen below trend or will do so in the near future). The new export orders index dipped to 97.9, pointing to possible signalling weaker trade growth later in the year. However, other barometer components have risen above the 100 threshold, including. air freight (104.3), container shipping (107.1), automotive products index (105.), electronic components index (102.0) and, the raw materials index (100.8).
Another Trump tariff trade off given by Keir Starmer, as he negotiated a 25% levy on steel and a 100k car free tariff, was the removal of a 19% tariff on US ethanol. Even before this occurrence, the UK industry was struggling and now its owner says this has put the future of the US$ 618 million loss-making Vivergo plant at risk. Indeed, ABF has already started negotiating with employees to affect an orderly wind-down, with wheat purchases having ceased from 11 June. It has warned that ““unless the government is able to provide both short-term funding of Vivergo’s losses and a longer-term solution, we intend to close the plant once the consultation process has completed, and the business has fulfilled its contractual obligations”. It has been rumoured that the Starmer administration has now committed itself to formal negotiations to secure the future of the group’s Vivergo plant, the UK’s largest bioethanol refinery. (An eco-friendlier fuel E10, (which contains 10% bioethanol and 90% regular unleaded petrol, is retailed in the UK).
Although he was appointed by Donald Trump, as the sixteenth Chairman of the Federal Reserve, in 2018, it is no secret that the US president is keen to see Jerome Powell depart; his term in office ends in May 2026. Trump has called Mr Powell “terrible” and said he was looking at “three or four people” who could replace him. Early favourites are Kevein Warsh, a former Fed governor, and US Treasury Secretary Scott Bessent. It seems likely that Trump is keen to install someone who is sympathetic to his demands The news impacted the greenback, with sterling hitting its highest level in almost four years – at US$ 1.373.
Not many tears will be shed for Jes Staley who lost his bid to negate a Financial Conduct Authority 2023 decision which found that he had “acted with a lack of integrity”, by “recklessly” misleading it about his relationship with Jeffrey Epstein. At the time, he was banned from holding senior positions in financial services. It seems that the high maintenance and highly paid CEO of Barclays had confirmed to the regulator “that he did not have a close relationship” with the sex offender and that his “last contact” with the paedophile was “well before” he joined the lender in December 2015. After over forty years in the banking industry, Jes Staley, who did his utmost to salvage his tarnished reputation, has lost his Walk Of Life!
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