Category Archives: Finance

Don’t Look Back In Anger

Posted on March 23, 2013 by howesdubai

There is no doubt that the local tourism industry is booming and latest figures from the World Travel and Tourism Council just serve to confirm this. The massive impact this sector has on the economy can be gauged from the … Continue reading →

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Help!

Posted on March 16, 2013 by howesdubai

Last year, the UAE economy grew by 6.5% with GDP rising to US$ 375 billion, mainly because of higher oil prices and increasing investment from within the region moving to a comparatively safe zone. Saudi’s GDP accounted for 43.1% of … Continue reading →

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Goodbye Yellow Brick Wall

Posted on March 10, 2013 by howesdubai

There is no doubt that tourism is a major driver for the Dubai economy, epitomised by January’s  hotel occupancy, which rose to a giddy 89.6% –  helped along by the success of the month-long Dubai Shopping Festival which this year … Continue reading →

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Money For Nothing

Posted on March 2, 2013 by howesdubai

Latest reports indicate that the tourism boom continues unabated with Dubai hotels registering an 83.6% occupancy rate last year – with more of the same on the plate in 2013. More impressive was the climb in both RevPAR (revenue per … Continue reading →

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Islands in the Sun

Posted on February 22, 2013 by howesdubai

Some believe that there are only about 920k Emirati citizens in a UAE population of an estimated 8.3 million. Of more surprise is the local unemployment rate of 14% and this is why HH Sheikh Mohammed bin Rashid Al Maktoum … Continue reading →

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Number One

Posted on February 19, 2013 by howesdubai

Yet another indicator of the strength of the local economic recovery is the news that Dubai Mall’s sales jumped 24% in 2012 and its footfall was 20% up at 65 million visitors / shoppers. If this is any guide for … Continue reading →

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Let’s Hang On To What We’ve Got

Posted on February 9, 2013 by howesdubai

The week started with HH Sheikh Mohammed bin Rashid Al Maktoum’s directive that work should commence on two major Nakheel developments on Palm Jumeirah. Nakheel Mall, located at the bottom of the trunk, will cost US$ 680 million whilst The … Continue reading →

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Wishin’ and Hopin’

Posted on February 2, 2013 by howesdubai

As the real estate sector is fast returning to its pre-GFC levels, it came as no surprise to hear that Emaar’s latest off-plan development sold out on launch day. All 280 units, available in the 55-storey Downtown Residence Fountain Views, … Continue reading →

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Don’t Turn Around

Posted on January 31, 2013 by howesdubai

The on-going mortgage lending saga took another turn this week with reports that the Central Bank Governor, HE Sultan Nasser Al Suweidi, has advised that changes to the mortgage cap were not imminent and would not go ahead without consultation … Continue reading →

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We Are The Champions

Posted on January 18, 2013 by howesdubai

Latest figures show that Dubai hotels are going from strength to strength with their best returns for three years. Occupancy levels hit 90.8% in November with average room rates up 3.1% to US$ 360.47 with even bigger leaps in revenue … Continue reading →

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