DXB Live Expands to Riyadh: Strengthening Its Regional Presence

DXB Live, the integrated event management and experiential agency of Dubai World Trade Centre (DWTC), has announced a significant expansion of its regional presence with the opening of a new office in Riyadh, Saudi Arabia. This move marks a pivotal step in DXB Live’s strategy to enhance its global footprint and solidify its position as a leader in the events industry.

Khalid Al Hammadi, Senior Vice President of DXB Live, shared his enthusiasm about the expansion, stating, “For 2024, our goal at DXB Live is to increase our presence in international markets, with a special focus on Saudi Arabia. We are exploring opportunities to establish regional offices in various Gulf countries, as well as expanding our reach in European, American, and Middle Eastern markets. Our aim is to deliver our extensive range of services to clients worldwide, and we are committed to offering top-tier services globally.”

The expansion into Riyadh is a strategic move that aligns with DXB Live’s broader objective to capitalize on the growing demand for high-quality event management and experiential services in the region. This new office will allow DXB Live to cater to the increasing number of prestigious events and projects emerging in Saudi Arabia, further cementing its role in shaping the future of event experiences.

In the first half of 2024 alone, DXB Live has provided its world-class services to a host of prominent events across the globe, including locations such as Morocco, Egypt, China, South Korea, Germany, the USA, Singapore, and Spain. This global reach underscores the company’s ability to deliver exceptional event experiences on an international scale.

The Riyadh office will enable DXB Live to leverage Saudi Arabia’s growing market for events and experiential services, driven by the country’s ambitious Vision 2030 plan. This plan aims to diversify the economy and increase the focus on sectors such as tourism and entertainment, creating a fertile ground for DXB Live’s expertise.

Khalid Al Hammadi expressed confidence in the expansion, noting, “Riyadh is rapidly emerging as a key player in the global events industry. By establishing a presence here, we are positioning ourselves to better serve the needs of our clients and to tap into new opportunities in the region. This expansion reflects our dedication to driving innovation and excellence in event management.”

As DXB Live continues to grow its regional and global presence, the company remains committed to delivering innovative and high-impact events that resonate with audiences and elevate client experiences. The new office in Riyadh is set to play a crucial role in advancing DXB Live’s mission to become a leading name in the integrated event management services industry.

With this strategic expansion, DXB Live is not only enhancing its operational capabilities but also contributing to the dynamic and evolving landscape of event management in the Middle East and beyond.

Experts say now is the best time to invest in Ras Al Khaimah Property

Now is an opportune moment for investors to consider real estate in Ras Al Khaimah (RAK), as property prices are poised for significant increases amid rapid market expansion. According to industry insiders, the real estate sector in this northern emirate is experiencing unprecedented growth due to a surge in multi-sector investments.

Anna Skigin, CEO of Frank Porter, emphasized that despite current high property prices, they are expected to continue rising. “Even though prices might seem steep right now, they’re set to climb even further,” she remarked. Frank Porter is expanding into RAK, driven by the emirate’s promising outlook. The announcement of the Wynn casino has been a major catalyst, attracting substantial foreign investment and a wave of new projects. This comes after 2023 saw record-breaking business and foreign investment levels in the region.

Skigin highlighted that the demand for real estate in RAK has been surging over the past few years. “We had a brief presence in the area in 2018, and even then, demand was high and has only increased since,” she noted. This growth trend indicates that now is an ideal time to invest in property in the emirate.

Rising Property Values and Investment Opportunities

As Ras Al Khaimah continues its development, property values are expected to rise, making it a lucrative market for investors aiming to maximize their returns. Skigin anticipates that RAK will increasingly become a hotspot for “second vacation homes” for residents of Dubai and Abu Dhabi. Additionally, there is a growing demand for commercial real estate as businesses seek to relocate to the area.

Sameh Muhtadi, CEO of RAK Properties, supports this optimistic outlook, describing investment in residential real estate in RAK as a “very good investment with safe regular income.” He notes that the emirate is experiencing unprecedented demand for residential properties, including off-plan developments. “The off-plan market is booming,” Muhtadi said, adding that rental demand is also soaring. In the first half of 2023, apartment prices in popular districts increased by up to 9.86%, while villa costs rose by up to 6.5%. The rising rental costs in Dubai are driving residents northward to Ras Al Khaimah, where they can afford to enhance their lifestyles.

Wynn Resort Fuels Global Interest

The upcoming Wynn Resort on Al Marjan Island is a key factor in the emirate’s exponential growth across various sectors, including tourism, hospitality, trading, e-commerce, real estate, and services. This high-profile development is drawing global attention and contributing to Ras Al Khaimah’s transformation into a major investment destination.

As RAK continues to evolve and attract international interest, the real estate market offers promising opportunities for investors seeking growth and stability in an emerging and dynamic region.

Phoenix Group and Tether Team Up to Launch UAE Dirham-Pegged Stablecoin

Phoenix Group PLC, a major tech firm listed on the Abu Dhabi Securities Exchange (ADX), is teaming up with Tether, the leading company in the digital asset industry, to launch a new stablecoin pegged to the UAE Dirham. Green Acorn Investments Ltd. is also supporting this venture.

The global stablecoin market, currently worth $150 billion, is expected to skyrocket to $2.8 trillion by 2028. This new stablecoin aims to make digital transactions more stable and secure by linking its value to the UAE Dirham, one of the world’s most stable currencies. It’s designed to help bridge the gap between traditional finance and the digital world, offering a dependable option for investors and everyday users alike.

Built on a cutting-edge blockchain platform, the stablecoin promises top-notch security and transparency. It’s expected to offer a reliable store of value and help reduce foreign exchange risks. Backed by the expertise of Phoenix and Tether and governed by strict regulations, this stablecoin will serve both businesses and consumers in the evolving digital economy.

Seyed Mohammad Alizadehfard, Co-Founder and Group CEO of Phoenix Group, expressed excitement about the project, noting its potential to transform the digital economy and highlighting Abu Dhabi’s role as an ideal launchpad for innovation.

Farah Zafar, Managing Director and Group Chief Legal Officer, added that this partnership reflects the UAE’s leadership in digital currencies and financial innovation. She emphasized the importance of this initiative in enhancing global digital assets.

Tether’s CEO, Paolo Ardoino, also welcomed the development, noting that the UAE is becoming a major economic hub. He believes the Dirham-pegged stablecoin will be a valuable addition for businesses and individuals, offering a secure and efficient way to transact in the UAE Dirham.

This collaboration underscores the UAE’s commitment to fostering innovation in the crypto space, supported by a forward-thinking regulatory framework that is helping shape the future of finance.

Rami Wahood: A Prominent Figure in Dubai’s Real Estate Market

Rami Wahood has made a significant impact on Dubai’s real estate landscape as an associate partner at fäm Properties, the largest real estate agency in the city. His career in the industry reflects a journey of growth and dedication, particularly in the luxury property market.

A Journey of Growth

Rami embarked on his real estate career in 2013 when he joined fäm Properties. Initially stepping into a managerial role with limited knowledge of the field, he quickly immersed himself in the industry. His commitment to learning and adapting propelled him to become an executive director, demonstrating his ability to excel and lead in a competitive market.

Notable Achievements

Over the years, Rami has established himself as a respected figure in Dubai’s real estate sector. He has earned a place among the top 1% of agents recognized by the Dubai Land Department, a testament to his high performance and client satisfaction. His expertise is particularly notable in handling high-end, off-market properties, which requires a sophisticated understanding of the market and client needs.

 

Appearance on Million Dollar Listing UAE

Rami’s professional journey includes a notable appearance on Million Dollar Listing UAE, a show that brought him additional visibility. As part of this international franchise, Rami was featured for his role in the luxury real estate market, showcasing his involvement in some of the region’s most exclusive transactions.

Current Market Insights

According to Rami, the luxury real estate market in Dubai is experiencing significant activity. He notes that the ultra-luxury segment is particularly strong, with rising prices and a diverse mix of international buyers. Despite the summer season, the market remains vibrant. Rami advises that working with a reputable agent and agency is crucial for navigating this dynamic market effectively.

Commitment to the Future

Rami’s dedication to the real estate industry is evident in his ongoing efforts to contribute to Dubai’s evolving property market. His approach blends extensive market knowledge with a forward-thinking perspective, reflecting his commitment to advancing the industry and meeting the needs of clients.

In Summary

For those interested in the Dubai real estate market, Rami Wahood stands out as a knowledgeable and experienced professional. His role at fäm Properties and his insights into the luxury property segment make him a key figure in the city’s real estate scene. Whether buying, selling, or investing, clients can rely on Rami’s expertise to guide them through their real estate endeavors.