UAE Non-Oil Business Activity Surges to Nine-Month High in December

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 The United Arab Emirates' non-oil private sector recorded its fastest expansion in nine months in December 2024, buoyed by strong domestic demand and increased business activity, according to the latest S&P Global Purchasing Managers’ Index (PMI) report. PMI Highlights Robust Growth The seasonally adjusted UAE PMI climbed to 55.4 in December from 54.2 in November, signaling robust growth well above the 50.0 threshold that separates expansion from contraction. This marked the third consecutive monthly increase, underscoring sustained recovery in the non-oil sector. Key drivers of growth included a notable rise in new business activity. The new orders subindex rose sharply to 59.3 in December from 58.0 in the previous month, reflecting strong domestic demand. Challenges Amid the Growth While domestic demand flourished, export growth slowed, with the export orders subindex dropping to a seven-month low. Additionally, businesses faced mounting backlogs due to capacity constraints,...

Abu Dhabi approves Dh85.4 billion budget for integrated residential neighbourhoods development

 

UAE

Abu Dhabi, the capital of the United Arab Emirates, has approved a budget of Dh85.4 billion for the development of integrated residential neighbourhoods. This initiative, under the directives of President His Highness Sheikh Mohamed bin Zayed and Crown Prince Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, will provide up to 76,000 homes and plots of land for citizens over the next five years.

The integrated residential neighbourhoods will feature a range of amenities and services, including mosques, schools, public parks, and green spaces, to ensure the highest living standards for citizens and enhance the wellbeing of families across Abu Dhabi emirate. The project is a testament to the UAE's commitment to providing its citizens with world-class infrastructure and services.

By investing in green spaces and leisure facilities, the development of integrated residential neighbourhoods will also promote a healthy lifestyle for citizens. This is an important aspect of social welfare, and the initiative is a significant step towards creating inclusive and sustainable communities in Abu Dhabi.

Providing affordable housing is crucial to creating a stable and equitable society, and this project is a commendable effort in that direction. The large budget allocated towards housing development is a testament to the government's commitment to improving the quality of life for its citizens.

Overall, the development of integrated residential neighbourhoods is a great example of thoughtful urban planning that will create vibrant communities in Abu Dhabi. The integration of services and amenities, along with the provision of affordable housing, will ensure a high standard of living for citizens and enhance the overall wellbeing of families across the emirate.

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