Air India deploys its first Airbus A350 aircraft on Delhi-Dubai route
KV Prasad Jun 13, 2022, 06:35 AM IST (Published)
Summary
At present, Air India operates a daily service connecting Delhi and Dubai, featuring a three-class cabin configuration, accommodating 316 seats.
Tata Group-owned Air India launched its A350 aircraft service on international routes, marking its debut with the first Delhi-Dubai flight on May 1. The airline plans to expand the deployment of its wide-body plane on additional overseas routes in the coming months.
Presently, the carrier operates a daily service connecting Delhi and Dubai, featuring a three-class cabin configuration, accommodating 316 seats.
According to a statement released on Thursday, Air India commenced flights on the Delhi-Dubai route with the A350-900 plane, making it the sole airline to deploy this aircraft between India and Dubai. According to reports, the airline will extend A350 operations on the London route by November.
Also read: Air India CEO says airline will spend $400 million in upgrading seats, in-flight entertainment
In future, the airline intends to introduce the A350 aircraft on more international routes, augmenting its fleet capacity. With the induction of A350 planes into its fleet this year, Air India signaled its enhancing both domestic and international flight services. Currently, the airline operates 72 weekly flights to Dubai from five Indian cities, including 32 flights originating from Delhi.
Recently, Air India extended the suspension of flights to and from Tel Aviv until May 15 amid tensions in the Middle East. On April 19, the airline said Tel Aviv flights will remain suspended until April 30. It operates four weekly flights between Delhi and Israeli capital.
In view of the ongoing situation in parts of the Middle East, Air India said it has extended the temporary suspension of flights to and from Tel Aviv to May 15. “We are continuously monitoring the situation and are extending support to our passengers who have confirmed bookings for travel to and from Tel Aviv during this period, with a one-time waiver on rescheduling and cancellation charges,” the airline said.
Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout
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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter
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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow
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index | Price | Change |
---|---|---|
nifty 50 | ₹16,986.00 | -72.15 |
sensex | ₹1,882.60 | +28.30 |
nifty IT | ₹2,206.80 | +30.85 |
nifty bank | ₹1,318.95 | -14.95 |
index | Price | Change |
---|---|---|
nifty 50 | ₹16,986.00 | -7.15 |
sensex | ₹1,882.60 | +8.30 |
nifty IT | ₹2,206.80 | +3.85 |
nifty bank | ₹1,318.95 | -1.95 |
index | Price | Change |
---|---|---|
nifty 50 | ₹16,986.00 | -72.15 |
sensex | ₹1,882.60 | +28.30 |
nifty IT | ₹2,206.80 | +30.85 |
nifty bank | ₹1,318.95 | -14.95 |
index | Price | Change |
---|---|---|
nifty 50 | ₹16,986.00 | -7.15 |
sensex | ₹1,882.60 | +8.30 |
nifty IT | ₹2,206.80 | +3.85 |
nifty bank | ₹1,318.95 | -1.95 |
index | Price | Change |
---|---|---|
nifty 50 | ₹16,986.00 | -7.15 |
sensex | ₹1,882.60 | +8.30 |
nifty IT | ₹2,206.80 | +3.85 |
nifty bank | ₹1,318.95 | -1.95 |
Currency
Company | Price | Chng | %Chng |
---|---|---|---|
Dollar-Rupee | 73.3500 | 0.0000 | 0.00 |
Euro-Rupee | 89.0980 | 0.0100 | 0.01 |
Pound-Rupee | 103.6360 | -0.0750 | -0.07 |
Rupee-100 Yen | 0.6734 | -0.0003 | -0.05 |
Question 1 of 5
What coins do you think will be valuable over next 3 years?
Answer Anonymously
Should Elon Musk be able to buy Twitter?
Indian airlines issue advisory for flights to and from Dubai, Sharjah and Abu Dhabi
KV Prasad Jun 13, 2022, 06:35 AM IST (Published)
Summary
The UAE has issued an alert for heavy rains for two days.
Indian airlines have issued an advisory for flights to and from Dubai, Sharjah and Abu Dhabi due to adverse weather conditions. IndiGo, SpiceJet and Vistara airlines have issued passenger advisory alert.
Heavy rains and thunderstorms lashed the UAE on Thursday, May 2, two weeks after Dubai was hit by unprecedented storms that paralysed the emirate for days. On May 1, the country’s National Emergency Crisis and Disaster Management Authority (NCEMA) elevated the readiness and preparedness levels of the national system to deal with the situation.
While these rains are expected to be less severe than the unprecedented downpour that hit the country last month, the public is urged to take precautions. On April 14-15, extreme rainfall battered regions of the Arabian Peninsula, with Dubai experiencing the heaviest rains on record since 1949.
“Due to adverse weather conditions in Dubai, Sharjah and Abu Dhabi, our flight operations are impacted. Please keep a track of your flight status before leaving for the airport,” IndiGo has put a post on X.
#6ETravelAdvisory: Due to adverse weather conditions in #Dubai #Sharjah & #AbuDhabi , our flight operations are impacted. Please keep a track of your flight status at https://t.co/TQCzzyjLr2 before leaving for the airport.
— IndiGo (@IndiGo6E) May 2, 2024
“Due to the anticipated bad weather conditions from May 2 to 5, traffic congestion is expected enroute to Dubai Airport. Customers are advised to allow more time for their journey to the airport. Thank you,” Vistara issued an advisory.
#TravelUpdate: Due to the anticipated bad weather conditions from May 2nd to May 5th, traffic congestion is expected enroute to Dubai Airport. Customers are advised to allow more time for their journey to the airport. Thank you.
— Vistara (@airvistara) May 1, 2024
SpiceJet also asked passengers to keep a check on their flight status. “Due to bad weather (thunderstorms with rain) in Dubai (DXB), all departures/arrivals and their consequential flights may get affected. Passengers are requested to keep a check on their flight status.”
#WeatherUpdate: Due to bad weather (thunderstorms with rain) in Dubai (DXB), all departures/arrivals and their consequential flights may get affected. Passengers are requested to keep a check on their flight status via https://t.co/VkU7yLjZly.
— SpiceJet (@flyspicejet) May 2, 2024
The UAE has issued an alert for heavy rains for two days.
Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout
3 Mins Read
Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter
Daily Newsletter
KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow
LIVE TV
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View Alltoday's market
index | Price | Change |
---|---|---|
nifty 50 | ₹16,986.00 | -72.15 |
sensex | ₹1,882.60 | +28.30 |
nifty IT | ₹2,206.80 | +30.85 |
nifty bank | ₹1,318.95 | -14.95 |
index | Price | Change |
---|---|---|
nifty 50 | ₹16,986.00 | -7.15 |
sensex | ₹1,882.60 | +8.30 |
nifty IT | ₹2,206.80 | +3.85 |
nifty bank | ₹1,318.95 | -1.95 |
index | Price | Change |
---|---|---|
nifty 50 | ₹16,986.00 | -72.15 |
sensex | ₹1,882.60 | +28.30 |
nifty IT | ₹2,206.80 | +30.85 |
nifty bank | ₹1,318.95 | -14.95 |
index | Price | Change |
---|---|---|
nifty 50 | ₹16,986.00 | -7.15 |
sensex | ₹1,882.60 | +8.30 |
nifty IT | ₹2,206.80 | +3.85 |
nifty bank | ₹1,318.95 | -1.95 |
index | Price | Change |
---|---|---|
nifty 50 | ₹16,986.00 | -7.15 |
sensex | ₹1,882.60 | +8.30 |
nifty IT | ₹2,206.80 | +3.85 |
nifty bank | ₹1,318.95 | -1.95 |
Currency
Company | Price | Chng | %Chng |
---|---|---|---|
Dollar-Rupee | 73.3500 | 0.0000 | 0.00 |
Euro-Rupee | 89.0980 | 0.0100 | 0.01 |
Pound-Rupee | 103.6360 | -0.0750 | -0.07 |
Rupee-100 Yen | 0.6734 | -0.0003 | -0.05 |
Question 1 of 5
What coins do you think will be valuable over next 3 years?
Answer Anonymously
Should Elon Musk be able to buy Twitter?
Dubai to have ‘world’s largest’ International Airport for $35 billion: All you need to know
KV Prasad Jun 13, 2022, 06:35 AM IST (Published)
Summary
The airport will be able to handle up to 260 million passengers a year.
Dubai, known as Venice of the Gulf, will soon have the world’s largest airport, its leader Sheikh Mohammed bin Rashid Al Maktoum has announced. The government has approved the designs for the new passenger terminal at the Al Maktoum International Airport, which will cost nearly $35 billion.
He further announced that when the terminal is fully operational, it will be able to handle up to 260 million passengers each year and will be five times the size of the current Dubai International Airport.
“We approved the designs for the new passenger terminals at Al Maktoum International Airport, and commenced construction of the building for AED 128 billion as part of Dubai Aviation Corporation’s strategy,” the Gulf emirate wrote on X.
Today, we approved the designs for the new passenger terminals at Al Maktoum International Airport, and commencing construction of the building at a cost of AED 128 billion as part of Dubai Aviation Corporation’s strategy.
Al Maktoum International Airport will enjoy the… pic.twitter.com/oG973DGRYX
— HH Sheikh Mohammed (@HHShkMohd) April 28, 2024
The Dubai Prime Minister and Vice President said that Al Maktoum International Airport will enjoy the world’s largest capacity, reaching up to 260 million passengers. “All operations at Dubai International Airport will be transferred to it in the coming years. The airport will accommodate 400 aircraft gates and feature five parallel runways,” he said. “New aviation technologies will be employed for the first time in the aviation sector.”
“We are building a new project for future generations, ensuring continuous and stable development for our children and their children in turn. Dubai will be the world’s airport, its port, its urban hub, and its new global centre,” he added.
Features of Al Maktoum International Airport:
– The airport will be able to handle up to 260 million passengers a year.
– The airport will feature 400 terminal gates and five parallel runways.
– The cost of the new terminal will be nearly 128 billion AED ($34.85 billion).
– The airport will host the world’s leading companies in the logistics and air transport sectors.
– The size of the new project will be five times the size of the current Dubai International Airport and in coming years, all operations of the current airport will be transferred to it.
– The total area announced for the new multi-billion-dollar project is 70 square kilometres, with an annual cargo capacity of 12 million tonnes.
Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout
3 Mins Read
Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter
Daily Newsletter
KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow
LIVE TV
Shows
View AllMost Reads
View Alltoday's market
index | Price | Change |
---|---|---|
nifty 50 | ₹16,986.00 | -72.15 |
sensex | ₹1,882.60 | +28.30 |
nifty IT | ₹2,206.80 | +30.85 |
nifty bank | ₹1,318.95 | -14.95 |
index | Price | Change |
---|---|---|
nifty 50 | ₹16,986.00 | -7.15 |
sensex | ₹1,882.60 | +8.30 |
nifty IT | ₹2,206.80 | +3.85 |
nifty bank | ₹1,318.95 | -1.95 |
index | Price | Change |
---|---|---|
nifty 50 | ₹16,986.00 | -72.15 |
sensex | ₹1,882.60 | +28.30 |
nifty IT | ₹2,206.80 | +30.85 |
nifty bank | ₹1,318.95 | -14.95 |
index | Price | Change |
---|---|---|
nifty 50 | ₹16,986.00 | -7.15 |
sensex | ₹1,882.60 | +8.30 |
nifty IT | ₹2,206.80 | +3.85 |
nifty bank | ₹1,318.95 | -1.95 |
index | Price | Change |
---|---|---|
nifty 50 | ₹16,986.00 | -7.15 |
sensex | ₹1,882.60 | +8.30 |
nifty IT | ₹2,206.80 | +3.85 |
nifty bank | ₹1,318.95 | -1.95 |
Currency
Company | Price | Chng | %Chng |
---|---|---|---|
Dollar-Rupee | 73.3500 | 0.0000 | 0.00 |
Euro-Rupee | 89.0980 | 0.0100 | 0.01 |
Pound-Rupee | 103.6360 | -0.0750 | -0.07 |
Rupee-100 Yen | 0.6734 | -0.0003 | -0.05 |
Question 1 of 5
What coins do you think will be valuable over next 3 years?
Answer Anonymously
Should Elon Musk be able to buy Twitter?
Brazil floods, Dubai rains and more: 6 devastating climate events this year so far
Abu Dhabi to deliver Tourism Strategy 2030 to ensure emirate’s sustainable growth as a global destination
KV Prasad Jun 13, 2022, 06:35 AM IST (Published)
Summary
The new Tourism Strategy aims to attract over 39 million visitors by 2030 and the sector to contribute AED 90 billion to UAE’s GDP
His Highness Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Chairman of the Abu Dhabi Executive Council, has approved the new Tourism Strategy 2030 for the emirate. Spearheaded by the Department of Culture and Tourism – Abu Dhabi (DCT Abu Dhabi), the ambitious blueprint signals a new era of expansion and strategic development in the travel and tourism sector.
The Tourism Strategy 2030 initiative seeks to boost visitor numbers from nearly 24 million in 2023 to 39.3 million by 2030 (overnight and same-day), with a 7% year-on-year growth. Moreover, it plans to significantly elevate the tourism and travel sector’s contribution to the UAE’s GDP, raising it from approximately AED 49 billion in 2023 to AED 90 billion annually by 2030.
The Strategy will generate an estimated 178,000 new jobs by 2030 as the entire tourism infrastructure develops to meet this demand. It intends to almost double international overnight visitors from 3.8 million in 2023 approximately to 7.2 million in 2030, expand hotel room availability from 34,000 in 2023 to 52,000 by 2030, and further enhance the holiday home segment to diversify accommodation options.
H.E. Mohamed Khalifa Al Mubarak, Chairman of DCT Abu Dhabi, said: “The Tourism Strategy 2030 marks a pivotal moment in Abu Dhabi’s transformative journey, representing a vital lever in our ongoing evolution. Delivered alongside our key partners, the Strategy underscores our steadfast commitment to fostering sustainable growth and strategic development in the travel and tourism sector. Through carefully crafted initiatives that will unlock economic opportunities, amplify our distinctive culture, and enhance the emirate’s value proposition, we are laying the foundation for a vibrant and prosperous future that transcends generations.”
A member of the Abu Dhabi Executive Council, His Excellency Mohamed Khalifa Al Mubarak is a prominent Emirati leader overseeing the growth of Abu Dhabi’s cultural, entertainment, real estate, and tourism sectors.
In 2016, His Excellency was appointed the Chairman of the Department of Culture and Tourism Abu Dhabi (DCT Abu Dhabi), where he oversees the preservation of the emirate’s heritage and history whilst inspiring its dynamic, world-leading approach to creating a recognised cultural capital, where culture is a driver of social and economic development.
AI Mubarak is accountable for ensuring that Abu Dhabi is a top-of-mind destination for all leisure and business travelers, growing Abu Dhabi’s MICE share, and partnering with global IPs to bring the best of international entertainment to the emirate as well as high profile sporting events including F1, NBA, and UFC.
One of the major achievements in Al Mubarak’s journey at DCT Abu Dhabi is the development of Saadiyat Cultural District – a curated destination for inspiration, artistic expression and cultural dialogue, that is currently home to Louvre Abu Dhabi and once finished will house, Zayed National Museum, Guggenheim Abu Dhabi, The Natural History Museum Abu Dhabi and teamLab Phenomena Abu Dhabi.
Al Mubarak serves as Chairman of Aldar Properties PJSC, the leading real estate developer in Abu Dhabi responsible for some of the most iconic landmarks and pioneering architecture in the emirate, including residential, commercial, and retail assets.
Al Mubarak is Chairman of Miral, the leading creator of immersive experiences in Abu Dhabi, where he has led the transformation of key areas within the emirate, including Yas Island, and has developed strategic partnerships such as the one established with Warner Bros. World Abu DhabiTM.
Al Mubarak is the President of the Abrahamic Family House and a member of the Higher Committee of Human Fraternity, where he is joined by international religious leaders, educational scholars, and cultural leaders across the world, to support and spread the values of mutual respect and peaceful coexistence.
Al Mubarak serves as Vice-Chair on the Foundation Board of ALIPH, the international alliance for the protection of heritage in conflict areas.
Al Mubarak is a graduate of Northeastern University (Boston, USA), with a double major in Economics and Political Science.
Fostering sustainable growth across four strategic pillars
To achieve the Strategy’s goals, 26 key initiatives have been identified across four strategic pillars: Offering and City Activation; Promotion & Marketing; Infrastructure & Mobility; and Visa, Licensing, and Regulations. These initiatives are key to realizing ambitious tourism targets and ensuring sustainable sectoral growth.
The initiatives will be unlocked through the collective vision of DCT Abu Dhabi, the Abu Dhabi Department of Economic Development (ADDED), the Department of Municipalities and Transport (DMT), Abu Dhabi Airports Company (ADAC), and other key government and private stakeholders, who play a strategic role in bringing Abu Dhabi’s tourism vision to life.
The first pillar, Offering and City Activation, aims to enhance guest experiences with new cultural sites, theme parks, retail options, and hotels. It will also diversify dining with culinary schools and training programs.
Simultaneously, DCT Abu Dhabi will expand Promotion and Marketing efforts from 11 to 26 markets, fostering synergy within Abu Dhabi’s tourism ecosystem and forming global partnerships to create targeted content.
The Infrastructure and Mobility pillar of the Strategy will expand hotel room availability, including accessible and luxury options, glamping, and farm stays. Collaborations will enhance roads, public transport, and infrastructure, simplifying travel and increasing flight seat capacity.
Streamlined Visa, Licensing, and Regulation processes, in collaboration with government agencies, will improve the visitor experience and ease of doing business, attracting investment.
Building on the success of 2023
In 2023, Abu Dhabi’s tourism sector flourished, welcoming nearly 24 million visitors, with a 27% increase in hotel guests and a 54% rise in international visitors, contributing approximately AED 49 billion to the UAE’s GDP.
In 2023, Abu Dhabi attracted a surge of international travelers, led by key markets such as India, Russia, the UK, China, and Saudi Arabia. With over 150 vibrant events, pristine beaches, and rich landscapes, the emirate’s culture also played a pivotal role. Historical sites like Qasr Al Hosn, Qasr al Watan, and the Sheikh Zayed Grand Mosque drew over 8.7 million visitors. Museums, cultural festivals, and art exhibitions thrived, with record attendance at the Louvre Abu Dhabi and the inaugural Manar Abu Dhabi exhibition showcasing diverse offerings.
Business tourism saw a 44% increase in MICE (Meetings, Incentives, Conferences, and Exhibitions) events, attracting nearly a million delegates (960,000) to 2,477 events. This boosted the food and beverage sector with a 21% revenue increase. Major entertainment events like the MOTN Festival and the Formula 1 Grand Prix, alongside cultural celebrations like the Al Hosn Festival and the Liwa Festival, solidified Abu Dhabi’s status as a global leisure and tourism hub.
About the Department of Culture and Tourism – Abu Dhabi:
The Department of Culture and Tourism – Abu Dhabi (DCT Abu Dhabi) drives the sustainable growth of Abu Dhabi’s culture and tourism sectors and its creative industries, fuelling economic progress and helping to achieve Abu Dhabi’s wider global ambitions.
By working in partnership with the organisations that define the emirate’s position as a leading international destination, DCT Abu Dhabi strives to unite the ecosystem around a shared vision of the emirate’s potential, coordinate effort and investment, deliver innovative solutions, and use the best tools, policies and systems to support the culture and tourism industries.
DCT Abu Dhabi’s vision is defined by the emirate’s people, heritage and landscape. We work to enhance Abu Dhabi’s status as a place of authenticity, innovation, and unparalleled experiences, represented by its living traditions of hospitality, pioneering initiatives and creative thought.
Click here to to learn more about the Tourism Strategy 2030.
Note: This is a partnered post.
Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout
3 Mins Read
Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter
Daily Newsletter
KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow
LIVE TV
Shows
View AllMost Reads
View Alltoday's market
index | Price | Change |
---|---|---|
nifty 50 | ₹16,986.00 | -72.15 |
sensex | ₹1,882.60 | +28.30 |
nifty IT | ₹2,206.80 | +30.85 |
nifty bank | ₹1,318.95 | -14.95 |
index | Price | Change |
---|---|---|
nifty 50 | ₹16,986.00 | -7.15 |
sensex | ₹1,882.60 | +8.30 |
nifty IT | ₹2,206.80 | +3.85 |
nifty bank | ₹1,318.95 | -1.95 |
index | Price | Change |
---|---|---|
nifty 50 | ₹16,986.00 | -72.15 |
sensex | ₹1,882.60 | +28.30 |
nifty IT | ₹2,206.80 | +30.85 |
nifty bank | ₹1,318.95 | -14.95 |
index | Price | Change |
---|---|---|
nifty 50 | ₹16,986.00 | -7.15 |
sensex | ₹1,882.60 | +8.30 |
nifty IT | ₹2,206.80 | +3.85 |
nifty bank | ₹1,318.95 | -1.95 |
index | Price | Change |
---|---|---|
nifty 50 | ₹16,986.00 | -7.15 |
sensex | ₹1,882.60 | +8.30 |
nifty IT | ₹2,206.80 | +3.85 |
nifty bank | ₹1,318.95 | -1.95 |
Currency
Company | Price | Chng | %Chng |
---|---|---|---|
Dollar-Rupee | 73.3500 | 0.0000 | 0.00 |
Euro-Rupee | 89.0980 | 0.0100 | 0.01 |
Pound-Rupee | 103.6360 | -0.0750 | -0.07 |
Rupee-100 Yen | 0.6734 | -0.0003 | -0.05 |
Question 1 of 5
What coins do you think will be valuable over next 3 years?
Answer Anonymously
Should Elon Musk be able to buy Twitter?
Is Dubai’s real estate sector poised for a slowdown?
KV Prasad Jun 13, 2022, 06:35 AM IST (Published)
Summary
Despite the global slowdown and spiking interest rates, Dubai witnessed a sharp increase in the value of home mortgage approvals, property prices, and residential rents. But has the real estate market reached its peak? Will there be a downturn?
Dubai! This word itself bridges the way to a world of imagination that’s full of luxurious homes, beautiful skylines, and extravagant lifestyles that possess unparalleled grandeur. Perhaps such a wish to live in this man made paradise resulted in investors flocking to the city of skyscrapers.
Despite the global slowdown and spiking interest rates, Dubai witnessed a sharp increase in the value of home mortgage approvals, property prices, and residential rents. But has the real estate market reached its peak? Will there be a downturn?
Considering the spiking inflation, the US Federal Reserve started increasing interest rates on March 17, 2022, by 25 bps. In July 2023, federal fund rates reached 5.25% to 5.50% levels, which were the highest since the 1980s. The Emirates effectively mirrors the Fed’s monetary policy because of its currency peg to the US dollar. Considering interest rates had never shot up so drastically in 22 years, a slowdown was expected in Dubai’s real estate market.
But despite this uptrend, last year the value of home mortgage approvals in the city witnessed a 40% increase. In this same period, the UAE’s mortgage rates climbed to 5% at the end of 2023 from below 2% in early 2022. The property prices in the Emirates continued a sharp ascent. In fact, in the first half of 2023, the country recorded a 16.9% YoY spike, which was the fastest increase in nearly a decade.
“Dubai is presently one of the most affordable luxury destinations in the world in comparison to many of its counterparts, including Hong Kong, Singapore, etc., said Morgan Owen, Managing Director – Middle East & North Africa, ANAROCK Group. He added that ever since the pandemic, there has been an uptick in interest in the Dubai residential market by the wealthy, including not just businessmen but also top professionals in banking and financial services and even crypto millionaires.
Residential rents in Dubai also outpaced sales price growth and soared by 21.7% in the first half of 2022. This trend continued into 2023. According to Betterhomes research, Russians topped the chart of non-resident buyers of homes in the first quarter of 2023 but slipped to third place by the end of the year.
Investors from India and the United Kingdom also flocked to the city and accounted for most of the transactions during the twelve months. The number of buyers from Egypt, Lebanon, Pakistan, and Turkey too saw a notable rise.
Owen enumerates the reasons behind Indian investors’ interest in Dubai’s market. “Besides lowered prices and its proximity to India, another reason why Indians are investing in Dubai is due to favouring government measures. The UAE is issuing long-term visas, between five and 10 years, to entrepreneurs, professionals, investors, and specialists in the medical, scientific, research, and technical fields,” he mentioned.
While Indian high-net-worth individuals (HNIs) remain among the top investors in Dubai, changing buyer preferences post-COVID-19 and declining property prices have attracted interest from a diverse range of businessmen and professionals.
According to Reuters, in 2023, a record 431 homes were sold for more than 10 million dollars in Dubai, making it the largest such market in the world. But what factors led to this boom?
Following the 2008 financial crisis, Dubai underwent a significant transformation, emerging as one of the world’s leading financial hubs. Real estate, constituting 8.9% of the economy, became a pivotal indicator of this shift. Secondly, the city’s handling of the pandemic was considered a textbook case, which further attracted investors.
The UAE’s banks continue to provide additional mortgage offers to secure the top spot. Under schemes like ‘Ramadan Specials’, banks rolled out 5-year fixed rate mortgage plans. This provided relative stability for the borrowers. Also, if rates fell in the future, there was a liberty to refinance the deal. Cherry on the cake!
So what’s next for Dubai’s real estate market?
“It is unlikely that there will be a major slowdown anytime soon because the UAE government’s open door policy for foreign investors has helped them tide through the tough and tumultuous times post-pandemic,” believes Owen. He adds that the luxury segment in Dubai is likely to continue to grow as demand remains upbeat. Also, the right product at the right location with world-class amenities will continue to garner attention.
Even though Chinese and Russian inflows tapered off, increased interest among Indian investors could keep any downturn mild. According to Knight Frank’s Dubai Market Review, Dubai is set to deliver just 13,000 homes annually over the next six years. This figure is well below the run-rate of 30,000 units over the last 15 years. The exposure of the UAE’s 10 largest banks to the real estate sector has also seen a decline. In 2008, during the financial crisis, this exposure stood at approximately 30%, decreasing to 16.2% by the third quarter of 2023.
Uncontrollable inflation and a dynamic global interest rate policy had already hampered market growth. Now, geopolitical factors like the tensions in West Asia and the unabated Russia-Ukraine war are also causing uncertainty.
All these factors indicate a high chance of a slowdown in Dubai’s real estate sector. But the city’s historic resilience needs to be considered before jumping to any conclusion.
Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout
3 Mins Read
Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter
Daily Newsletter
KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow
LIVE TV
Shows
View AllMost Reads
View Alltoday's market
index | Price | Change |
---|---|---|
nifty 50 | ₹16,986.00 | -72.15 |
sensex | ₹1,882.60 | +28.30 |
nifty IT | ₹2,206.80 | +30.85 |
nifty bank | ₹1,318.95 | -14.95 |
index | Price | Change |
---|---|---|
nifty 50 | ₹16,986.00 | -7.15 |
sensex | ₹1,882.60 | +8.30 |
nifty IT | ₹2,206.80 | +3.85 |
nifty bank | ₹1,318.95 | -1.95 |
index | Price | Change |
---|---|---|
nifty 50 | ₹16,986.00 | -72.15 |
sensex | ₹1,882.60 | +28.30 |
nifty IT | ₹2,206.80 | +30.85 |
nifty bank | ₹1,318.95 | -14.95 |
index | Price | Change |
---|---|---|
nifty 50 | ₹16,986.00 | -7.15 |
sensex | ₹1,882.60 | +8.30 |
nifty IT | ₹2,206.80 | +3.85 |
nifty bank | ₹1,318.95 | -1.95 |
index | Price | Change |
---|---|---|
nifty 50 | ₹16,986.00 | -7.15 |
sensex | ₹1,882.60 | +8.30 |
nifty IT | ₹2,206.80 | +3.85 |
nifty bank | ₹1,318.95 | -1.95 |
Currency
Company | Price | Chng | %Chng |
---|---|---|---|
Dollar-Rupee | 73.3500 | 0.0000 | 0.00 |
Euro-Rupee | 89.0980 | 0.0100 | 0.01 |
Pound-Rupee | 103.6360 | -0.0750 | -0.07 |
Rupee-100 Yen | 0.6734 | -0.0003 | -0.05 |
Question 1 of 5
What coins do you think will be valuable over next 3 years?
Answer Anonymously
Should Elon Musk be able to buy Twitter?
Flight operations at Dubai International Airport limping back to normalcy
KV Prasad Jun 13, 2022, 06:35 AM IST (Published)
Summary
The situation is now improving and flight operations are limping back to normalcy. In a post on social media platform X, DXB said, “We have now resumed arriving flights of airlines operating out of Terminal 1. Flights continue to be delayed and disrupted, so we urge you to only come to Terminal 1 if you have a confirmed booking. Please contact your airline for the latest information on your flight status.”
Over the past two days the capital city of the United Arab Emirates, Dubai witnessed unexpected scenes. The streets were flooded with rainwater as the city received over 142 mm of rainfall in two days, which it ideally receives in one season. The water not only flooded the streets but also flooded the Dubai International Airport (DXB). Flooded runways, taxiways and terminals, such were the scenes at DXB.
However, the situation is now improving and flight operations are limping back to normalcy. In a post on social media platform X, DXB said, “We have now resumed arriving flights of airlines operating out of Terminal 1. Flights continue to be delayed and disrupted, so we urge you to only come to Terminal 1 if you have a confirmed booking. Please contact your airline for the latest information on your flight status.”
We have now resumed arriving flights of airlines operating out of Terminal 1.
Flights continue to be delayed and disrupted, so we urge you to only come to Terminal 1 if you have a confirmed booking. Please contact your airline for the latest information on your flight status.— DXB (@DXB) April 17, 2024
The airport also informed passengers about food distribution.
Terminal 1: Food has been distributed with more on the way
Terminal 2: Food is currently being distributed
Terminal 3: Restaurants are open and accepting meal vouchers
(2/2)— DXB (@DXB) April 17, 2024
Also Read: Heavy thunderstorms lash Dubai — roads and airport submerged | Watch Video
The freak weather situation affected the entire operations, not only for its carriers but also for airlines globally. Emirates suspended check-in for passengers at DXB. In a post on X Emirates said, “Emirates is extending the suspension of check-in for passengers departing Dubai effective until 09:00 am on 18 April, due to continued operational challenges caused by bad weather and road conditions.”
Indian airlines IndiGo, Air India, Vistara and SpiceJet have several daily flights from India to Dubai. Just like other airlines, operations for Indian airlines have been affected as well. India’s largest airline in terms of market share and fleet size has suspended operations till noon (Indian Standard Time) today.
In a post on X IndiGo said, “Flights to/from Dubai stand cancelled until 12 PM on Apr 18, due to Airport restrictions and operational challenges caused by bad weather and road blockages. Do explore our alternate flight options or request a full refund by visiting bit.ly/36u4Mh9.”
Air India has also cancelled several flights to and from Dubai and is offering alternate flight options and refunds to customers. SpiceJet is also offering the same to its passengers.
DXB is one of the top three busiest airports globally. The airport’s Terminal 3 is one of the biggest terminals in the world and it has two runways. The airport is the hub for Emirates, Fed Ex Express and FlyDubai. The airport has over 500 daily departures and arrivals. The city of Dubai received the highest rainfall in the last 75 years.
Also Read: Adverse weather hits Dubai flights; Air India, IndiGo, SpiceJet flights affected
Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout
3 Mins Read
Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter
Daily Newsletter
KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow
LIVE TV
Shows
View AllMost Reads
View Alltoday's market
index | Price | Change |
---|---|---|
nifty 50 | ₹16,986.00 | -72.15 |
sensex | ₹1,882.60 | +28.30 |
nifty IT | ₹2,206.80 | +30.85 |
nifty bank | ₹1,318.95 | -14.95 |
index | Price | Change |
---|---|---|
nifty 50 | ₹16,986.00 | -7.15 |
sensex | ₹1,882.60 | +8.30 |
nifty IT | ₹2,206.80 | +3.85 |
nifty bank | ₹1,318.95 | -1.95 |
index | Price | Change |
---|---|---|
nifty 50 | ₹16,986.00 | -72.15 |
sensex | ₹1,882.60 | +28.30 |
nifty IT | ₹2,206.80 | +30.85 |
nifty bank | ₹1,318.95 | -14.95 |
index | Price | Change |
---|---|---|
nifty 50 | ₹16,986.00 | -7.15 |
sensex | ₹1,882.60 | +8.30 |
nifty IT | ₹2,206.80 | +3.85 |
nifty bank | ₹1,318.95 | -1.95 |
index | Price | Change |
---|---|---|
nifty 50 | ₹16,986.00 | -7.15 |
sensex | ₹1,882.60 | +8.30 |
nifty IT | ₹2,206.80 | +3.85 |
nifty bank | ₹1,318.95 | -1.95 |
Currency
Company | Price | Chng | %Chng |
---|---|---|---|
Dollar-Rupee | 73.3500 | 0.0000 | 0.00 |
Euro-Rupee | 89.0980 | 0.0100 | 0.01 |
Pound-Rupee | 103.6360 | -0.0750 | -0.07 |
Rupee-100 Yen | 0.6734 | -0.0003 | -0.05 |
Question 1 of 5
What coins do you think will be valuable over next 3 years?
Answer Anonymously
Should Elon Musk be able to buy Twitter?
Adverse weather hits Dubai flights; Air India, IndiGo, SpiceJet flights affected
KV Prasad Jun 13, 2022, 06:35 AM IST (Published)
Summary
Apart from Air India, Air India Express, Vistara, IndiGo and SpiceJet also operate flights from various Indian cities to Dubai, which is also home to a large number of Indian diaspora. An Air India spokesperson said due to the impact of adverse weather in Dubai, it had to cancel flights to and from the Gulf nation on Tuesday and Wednesday.
Flights from India to Dubai have been disrupted significantly as heavy rains resulted in flooding of the emirate’s airport, also one of the world’s busiest airports. Air India, which operates 72 weekly flights from various cities to Dubai, and IndiGo cancelled their services on Wednesday.
Apart from Air India, Air India Express, Vistara, IndiGo and SpiceJet also operate flights from various Indian cities to Dubai, which is also home to a large number of Indian diaspora. An Air India spokesperson said due to the impact of adverse weather in Dubai, it had to cancel flights to and from the Gulf nation on Tuesday and Wednesday.
“We are doing our best to get affected passengers on their way as soon as possible by re-accommodating them on flights in the next few days. “We are also offering a one-time date change waiver to passengers with valid tickets on 16 and 17 April, allowing them to reschedule their flights to future dates within the validity of the tickets,” the spokesperson said in a statement on Wednesday.
Meanwhile, an official said 10 flights from the Delhi airport to Dubai were cancelled on Wednesday. Also, nine flights that were to arrive from Dubai to the national capital were cancelled. Details about cancelled flights could not be immediately ascertained. “Inclement weather has impacted air travel to the UAE, causing delays and diversions. Three to four of our flights on the 16th and 17th were among those delayed. We regret the inconvenience and have offered the option of a full refund or free rescheduling to all impacted guests,” an Air India Express spokesperson said in a statement on Wednesday.
In a post on X on Wednesday, IndiGo said all flights to and from Dubai stand cancelled due to operational challenges caused by bad weather and road conditions. SpiceJet, in a post on X, said flights to and from Dubai are affected due to adverse weather conditions in Dubai.
There was no statement from Vistara. Unprecedented heavy rains lashed Dubai on Tuesday, disrupting normal lives and flooding the Dubai International Airport.
The Dubai airport was ranked as the world’s second busiest airport in 2023, handling more than 8.69 crore passengers, according to Airports Council International (ACI).
Also Read: Emirates extends Dubai halt into Thursday on flooding
Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout
3 Mins Read
Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter
Daily Newsletter
KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow
LIVE TV
Shows
View AllMost Reads
View Alltoday's market
index | Price | Change |
---|---|---|
nifty 50 | ₹16,986.00 | -72.15 |
sensex | ₹1,882.60 | +28.30 |
nifty IT | ₹2,206.80 | +30.85 |
nifty bank | ₹1,318.95 | -14.95 |
index | Price | Change |
---|---|---|
nifty 50 | ₹16,986.00 | -7.15 |
sensex | ₹1,882.60 | +8.30 |
nifty IT | ₹2,206.80 | +3.85 |
nifty bank | ₹1,318.95 | -1.95 |
index | Price | Change |
---|---|---|
nifty 50 | ₹16,986.00 | -72.15 |
sensex | ₹1,882.60 | +28.30 |
nifty IT | ₹2,206.80 | +30.85 |
nifty bank | ₹1,318.95 | -14.95 |
index | Price | Change |
---|---|---|
nifty 50 | ₹16,986.00 | -7.15 |
sensex | ₹1,882.60 | +8.30 |
nifty IT | ₹2,206.80 | +3.85 |
nifty bank | ₹1,318.95 | -1.95 |
index | Price | Change |
---|---|---|
nifty 50 | ₹16,986.00 | -7.15 |
sensex | ₹1,882.60 | +8.30 |
nifty IT | ₹2,206.80 | +3.85 |
nifty bank | ₹1,318.95 | -1.95 |
Currency
Company | Price | Chng | %Chng |
---|---|---|---|
Dollar-Rupee | 73.3500 | 0.0000 | 0.00 |
Euro-Rupee | 89.0980 | 0.0100 | 0.01 |
Pound-Rupee | 103.6360 | -0.0750 | -0.07 |
Rupee-100 Yen | 0.6734 | -0.0003 | -0.05 |
Question 1 of 5
What coins do you think will be valuable over next 3 years?
Answer Anonymously
Should Elon Musk be able to buy Twitter?
Emirates extends Dubai halt into Thursday on flooding
KV Prasad Jun 13, 2022, 06:35 AM IST (Published)
Summary
Strong rainfall and storms that have battered Dubai have caused travel chaos, disrupting public life and affecting travel plans. The record rainfall has resulted in delayed or diverted flights, while cars have been left stranded on flooded roads
Emirates halted all check-ins for passengers into Thursday morning as bad weather in Dubai continued to disrupt travel in one of the world’s busiest aviation hubs.
All passengers may only begin checking in after 9:00 a.m. local time on Thursday, the biggest international airline said in a statement, extending an earlier suspension. Transit passengers are permitted to proceed to their connecting flights, the carrier said in a statement.
“Emirates is working hard to restore our scheduled operations, and our teams will provide all possible support to affected customers,” the airline said in an earlier statement.
Strong rainfall and storms that have battered Dubai have caused travel chaos, disrupting public life and affecting travel plans. The record rainfall has resulted in delayed or diverted flights, while cars have been left stranded on flooded roads. Dubai airport, one of the world’s busiest, is suffering from “significant disruption,” it said Wednesday.
Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout
3 Mins Read
Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter
Daily Newsletter
KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow
LIVE TV
Shows
View AllMost Reads
View Alltoday's market
index | Price | Change |
---|---|---|
nifty 50 | ₹16,986.00 | -72.15 |
sensex | ₹1,882.60 | +28.30 |
nifty IT | ₹2,206.80 | +30.85 |
nifty bank | ₹1,318.95 | -14.95 |
index | Price | Change |
---|---|---|
nifty 50 | ₹16,986.00 | -7.15 |
sensex | ₹1,882.60 | +8.30 |
nifty IT | ₹2,206.80 | +3.85 |
nifty bank | ₹1,318.95 | -1.95 |
index | Price | Change |
---|---|---|
nifty 50 | ₹16,986.00 | -72.15 |
sensex | ₹1,882.60 | +28.30 |
nifty IT | ₹2,206.80 | +30.85 |
nifty bank | ₹1,318.95 | -14.95 |
index | Price | Change |
---|---|---|
nifty 50 | ₹16,986.00 | -7.15 |
sensex | ₹1,882.60 | +8.30 |
nifty IT | ₹2,206.80 | +3.85 |
nifty bank | ₹1,318.95 | -1.95 |
index | Price | Change |
---|---|---|
nifty 50 | ₹16,986.00 | -7.15 |
sensex | ₹1,882.60 | +8.30 |
nifty IT | ₹2,206.80 | +3.85 |
nifty bank | ₹1,318.95 | -1.95 |
Currency
Company | Price | Chng | %Chng |
---|---|---|---|
Dollar-Rupee | 73.3500 | 0.0000 | 0.00 |
Euro-Rupee | 89.0980 | 0.0100 | 0.01 |
Pound-Rupee | 103.6360 | -0.0750 | -0.07 |
Rupee-100 Yen | 0.6734 | -0.0003 | -0.05 |
Question 1 of 5
What coins do you think will be valuable over next 3 years?
Answer Anonymously