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Dubai ranks top for cultural and creative projects, says FDI data

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Dubai has achieved top global ranking in attracting Foreign Direct Investment (FDI) projects in the cultural and creative industries in 2022.

The emirate attracted a record-breaking 451 projects, which represents an increase of 107.7 per cent, and surpasses the likes of London, Singapore, Paris and Berlin.

That’s according to the Department of Economy and Tourism’s (DET) Dubai FDI Monitor report based on data from the Financial Times’ ‘fDi Markets,’ a leading source on Greenfield FDI projects.

Dubai’s total FDI capital flows in the cultural and creative industries surged to AED 7.35 billion in 2022, ranking the city 1st in the MENA region and 12th globally (up from 14th in 2021).

This FDI generated an estimated 12,368 jobs, positioning Dubai 1st in the MENA region and 6th globally (maintaining the same level as 2021) in job creation in FDI.

Sheikha Latifa bint Mohammed bin Rashid Al Maktoum, Chairperson of Dubai Culture and Arts Authority and Member of the Dubai Council, said the latest ranking reflects the emirate’s unique approach and reflects the strength and maturity of its infrastructure and its legal, legislative, creative and digital environment.

The United States, India, the United Kingdom, France and Switzerland emerged as the leading foreign direct investors in Dubai’s cultural and creative industries in terms of FDI projects.

According to the data, Greenfield (wholly-owned) FDI projects accounted for 76 per cent of the total, followed by New Forms of Investments (NFIs), which accounted for 13 per cent, Mergers and Acquisitions and Reinvestment projects making up 5 per cent each, and Greenfield (joint-ventures) at 1 per cent.

Business

Skip the flight, catch the ferry: Pakistan–Oman set to launch sea service

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Pakistan and Oman are moving closer to launching a direct ferry service between Gwadar and the Sultanate, as part of renewed efforts to strengthen maritime cooperation, enhance trade, and build regional connectivity.

The developments came during a high-level meeting on Thursday between Pakistan’s Federal Minister for Maritime Affairs, Muhammad Junaid Anwar Chaudhry, and the Ambassador of Oman to Pakistan, Fahad bin Sulaiman bin Khalaf Al Kharusi.

Maritime Trade in Focus

Both sides reaffirmed their deep-rooted diplomatic, economic, and cultural ties and discussed plans to accelerate cooperation in the maritime sector. Minister Chaudhry highlighted that Pakistan’s exports to Oman via sea ports reached $224 million in 2024, but stressed the potential to significantly increase this figure through joint initiatives.

Gwadar-Oman Ferry Could Unlock Billions

A major highlight of the meeting was the proposal to launch a direct ferry service from Gwadar to Oman, which Chaudhry said could unlock $10–15 billion annually for Pakistan through trade expansion, transit revenue, and investment inflows.

Potential New Ferry Routes

  • Based on current and past plans, potential ferry routes from Pakistan include:
    • Karachi to Gwadar
    • Gwadar to Muscat (Oman)
    • Karachi to Muscat (Oman)
    • Karachi to Chabahar (Iran)
    • Gwadar to Chabahar (Iran)
    • International excursion tours
    • Local city operation within Karachi 
    • Past Sea Routes that Were Proposed
  • There have been past discussions and reports about ferry services between Pakistan and other regions but they have yet to become a reality:
    • Dubai-Karachi Ferry Service: A luxury ferry service between Karachi and Dubai was approved in 2006, with Gulf Dream Cruise being the first operator. This service was planned to take two days and cost $549 for a round trip. However, the feasibility of a regular ferry service for fast passenger transfers was questioned due to the affordability of flights.
    • India-Dubai: The Indian government had granted permission for the launch of a cruise ferry service connecting Kerala and Dubai in 2023. The ferry service operating on the Beypur-Kochi-Dubai route, would prvide connectivity between Dubai and Kochi, within just three days and enable expats in the UAE to carry 10 times more luggage and travel at a lower cost than airlines. The ticket was expected to cost at around Dh450.
    • Iran Ferry Service: There was a plan to launch a ferry service between Karachi/Gwadar and Chabahar in Iran, primarily to facilitate pilgrims and offer a safer alternative to road travel.

Maritime Training & Human Capital Development

Chaudhry also proposed offering specialised training and scholarships for Omani students at the Pakistan Marine Academy, which is being upgraded to university status. The goal: to foster long-term maritime collaboration and build shared human capital in marine sciences and navigation.

Strong Cultural Ties and Diaspora Links

Ambassador Al Kharusi welcomed the proposals and highlighted the strong cultural connections between the two nations. He noted that Urdu remains widely spoken and understood in Oman, reflecting historic social bonds, and praised the Pakistani community’s role in Oman’s development.

The ambassador also backed greater B2B (business-to-business) engagements to unlock new trade and investment opportunities between the two countries.

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How Millennials and Gen Z are powering UAE’s mobile shopping boom

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Millennials and Gen Z are leading a retail revolution in the UAE, turning their smartphones into their go-to shopping destination. According to the newly released 2025 Global Digital Shopping Index – UAE edition, the country’s youngest consumers are driving the UAE to the top of the global mobile shopping leaderboard.

The report, commissioned by Visa Acceptance Solutions and conducted by PYMNTS Intelligence, surveyed 1,679 consumers and 329 merchants across the UAE. The findings reveal a dramatic rise in mobile-first shopping habits, with Millennials and Gen Z leading the charge.

Mobile is the New Mall

A whopping 67% of UAE consumers used their phones as part of their most recent retail purchase, a 23% increase since 2022. But it’s the younger generations setting the pace:

  • 73% of Millennials shopped using their phones during their last purchase
  • Gen Z isn’t far behind, proving that mobile shopping is second nature to digital natives

These generations are not just buying, they’re reshaping the entire shopping experience, demanding speed, security, and flexibility at every step.

Tech-Savvy, Security-First Shoppers

Younger UAE shoppers are also embracing biometric authentication, like fingerprint or facial recognition, more than ever. 32% of UAE consumers used biometrics in their latest online retail transaction, nearly double the global average of 17%.

What Young Shoppers Value

Millennials and Gen Z in the UAE expect more than just fast checkouts. Their top demands include:

  • Rewards programmes (75%)
  • Free shipping (73%)
  • Price matching (70%)
  • Cross-channel flexibility (53%)—blending in-store, mobile, and desktop shopping

They’re also more likely to shop online for home delivery, with 38% of UAE consumers choosing this convenience in their most recent purchase.

Setting a Global Standard

The UAE now has the highest rate of mobile-based online shopping globally (37%), outpacing Singapore, the UK, and Brazil. Industry experts attribute this to a strong digital ecosystem backed by collaborative efforts between the UAE government, retailers, and fintech partners.

“Millennials and Gen Z are shaping this future—and we’re proud to support it through innovations like Click to Pay,” said Salima Gutieva, Visa’s Vice President and Country Manager for the UAE.

Future of Retail: In Their Hands

The takeaway? Mobile-first isn’t coming, it’s already here, thanks to the tech-savvy preferences of the UAE’s younger generations. Whether it’s a tap, swipe, or biometric scan, Millennials and Gen Z are making mobile shopping the new normal in the Emirates.

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Real estate

Dubai real estate firm names Afghan cricket star Rashid Khan as brand ambassador

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Afghan cricket sensation Rashid Khan has been named the new brand ambassador for Dubai-based MH Developers, a leading real estate firm making major strides in the emirate’s booming property sector.

The announcement comes at a time when Dubai’s real estate market is hitting new highs, with the first half of 2025 showing a 15% year-on-year rise in property prices and a 20% increase in transaction volumes, driven by strong investor confidence, economic stability, and world-class infrastructure.

Cricket and Construction Come Together

Known for his record-breaking feats on the pitch, including being the fastest bowler to reach 100 wickets in T20 internationals, Rashid Khan brings his global appeal and winning mindset to the real estate arena.

“The UAE has always been a second home for Afghan cricket, offering support and opportunity during difficult times,” said Khan. 

“This collaboration with MH Developers is a natural fit for me, professionally and personally, as it reflects shared values of resilience, growth, and building a better future.”

A Strategic Move by MH Developers

Murtaza Hashmi, CEO of MH Developers, said the partnership with Khan is part of a broader strategy to connect with new audiences and tap into Dubai’s rising profile as a global hub for luxury living and smart investment.

“Dubai offers a secure, well-regulated environment that continues to attract buyers and investors from around the world,” said Hashmi. 

“Rashid Khan’s international reputation and unwavering pursuit of excellence align perfectly with our mission to deliver top-tier real estate solutions during this exciting time for the market.”

What’s Next for MH Developers?

With this partnership in place, MH Developers plans to roll out signature projects that blend sophisticated design with solid investment potential, tailored to the modern lifestyle demands of Dubai’s growing resident and investor base.

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