Happy Saturday everyone!

All top stories are from the UAE today as the country continues to cement its global standing across trade, investment, and real estate. UAE climbed to 11th place globally in merchandise exports, hitting $603 billion in 2024, according to the World Trade Organization. Meanwhile, Dubai and Abu Dhabi ranked as the top two cities globally for high-net-worth individual relocations, driven by tax benefits and quality of life, says Savills. In real estate, developers like Sobha and Omniyat are eyeing Islamic bonds to fund projects amid strong, albeit cooling, demand, as per Bloomberg.

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UAE Climbs Global Trade Rankings With $603 Billion In Exports: WTO

📌 What Is It About?

• The UAE became the 11th largest global merchandise exporter in 2024, with exports reaching USD 603 billion, according to the World Trade Organization’s latest Global Trade Outlook and Statistics report.

• This marks a 6% year-on-year increase in merchandise exports, up from the country’s 14th place ranking in the 2023 report.

• Imports also saw strong growth, rising 14% y-o-y to USD 539 billion, pushing the UAE up two spots to become the 14th largest global importer.

• In commercial services, the UAE maintained its position as the 13th largest global exporter, with exports climbing to USD 176 billion, while service imports dipped slightly to USD 106 billion.

📌 Why It Matters

• The report reinforces the UAE’s growing clout in global trade, particularly in merchandise exports, where it continues to outpace larger economies.

• The strong performance in both goods and services exports reflects the country’s economic diversification efforts and increasing integration with global supply chains.

• The data comes at a time of widening global trade tensions, making the UAE’s gains even more significant.

📌 What’s Next

• The Middle East’s commercial services export growth is projected to slow sharply—from 4.2% in 2024 to 1.7% in 2025, and down further to 1% in 2026.

• In contrast, the region’s merchandise exports are expected to hold steady, growing 5.3% in 2025 and 5.1% in 2026.

• Globally, merchandise trade is forecast to contract by 0.2% in 2025, as new tariffs take effect, before rebounding to 2.5% in 2026.

• Commercial services trade worldwide is also expected to slow to 4% in 2025, down from 6.8% in 2024, before recovering to 4.1% in 2026.

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Markets

Dubai And Abu Dhabi Top Global List For HNWI Relocations: Savills

📰 What is it about?

• Dubai and Abu Dhabi ranked first and second in the newly launched Savills Dynamic Wealth Indices, which track the most attractive cities globally for high-net-worth individuals (HNWIs) and businesses looking to relocate.

• The UAE’s competitive tax regime, growing base of wealthy individuals, and high quality of life helped secure these top spots, ahead of other global hubs like Singapore, Zurich, and Auckland.

• For corporate relocations, Singapore, Seoul, New York, London, and Abu Dhabi led the rankings, with Abu Dhabi standing out for ranking in the top five for both individuals and companies.

💡 Why it matters

• The UAE’s dual appeal for both HNWIs and businesses highlights its growing status as a global wealth hub, driven by strong fiscal incentives and geopolitical stability.

• According to Savills, Abu Dhabi’s sovereign wealth and pro-business environment have attracted a wave of global corporates and family offices, fueling demand for office space and luxury housing.

• In Dubai, prime residential capital values rose by 6.8% in 2024, while prime office values surged 7% in Q4. The city also saw a record 47% increase in residential transactions, with over 4,600 units priced above AED 10 millionchanging hands.

🔜 What’s next?

• Savills notes that global wealth flows are shifting, with location decisions increasingly influenced by quality-of-life factors, in addition to tax policies and investment incentives.

• As HNWIs often bring their companies with them, destinations that offer both personal and professional advantages — like the UAE — will likely see continued inflows of wealth and talent.

• Six of the top 12 cities in Savills’ indices appeared in both individual and corporate rankings, reflecting a growing overlap between business and lifestyle priorities.

Dubai Developers Eye Islamic Bonds As Property Boom Continues: Bloomberg

📌 What is it about?

• Dubai-based Sobha Realty and Omniyat are exploring the issuance of dollar-denominated sukuks to fund their expansion amid continued demand in the city’s real estate market.

• Sobha is reportedly testing investor appetite in the UAE and London, with plans to use proceeds to acquire land in Dubai.

• Omniyat, known for its ultra-luxury developments, is also considering a debut sukuk as early as this quarter to support upcoming projects.

• While no final decisions have been made on deal size or timing, sukuk offerings typically aim to raise hundreds of millions of dollars.

💡 Why it matters

• The move signals continued confidence among Dubai’s top developers, even as global market uncertainty — including US tariff policy and oil price volatility — starts to weigh on sentiment.

• Islamic bonds remain an attractive funding route for Gulf-based companies, despite recent volatility in sukuk yields, including a spike in Sobha’s 2028 issuance.

• Sobha recorded AED 21 billion ($5.7 billion) in property sales in FY2024, making it Dubai’s third-largest developer. Omniyat posted AED 2.94 billion in sales last year, cementing its place in the city’s high-end real estate niche.

🔜 What’s next?

• Both firms are watching market conditions closely, with potential sukuk deals expected only if investor interest remains strong.

• Analysts warn that cooling property prices and macroeconomic risks could challenge Dubai’s real estate momentum, although developers maintain that buyer appetite is still solid.

• If successful, the issuances would reflect growing interest in Islamic finance tools to back property growth in a region where Sharia-compliant investment options are in high demand.

🔍In other news…

• Abu Dhabi Defies Oil Price Plunge to Keep Building Big at Home.

• AI classes to prepare Saudi pupils for the new world.

• PIF-backed elevator company explores US IPO.

• Saudi Arabia poised to become Mideast’s Silicon Valley, say experts.

• Syrian Air to begin UAE flights from Sunday.

• IMF disburses $130 million in funds to Jordan.

• Dubai-based property developer Azizi Developments said it plans to recruit 7,000 new employees by the end of the year.

• New jobs: Saudi Arabia unveils tax incentives to lure talent, boost investments.

• DCT Abu Dhabi's tourism sector targets AED62 billion to economy: Chairman.

• Abu Dhabi’s ADQ, IHC, Modon form Joint Venture for large-scale developments.

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