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SAUDI ARABIA EMARATES BAHRAIN KUWAIT OMAN QATAR

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Press Dossier

By Date

26/08/2024

	Saudi real estate market set for rebound leading GCC growth Saudi Arabia’s real estate market is expected to rebound in the second half of this year, driven by strong performance in both oil and non-oil sectors, a new analysis has revealed.
	Saudi cybersecurity market sees 10.8% growth, reaching $3.55bn in 2023 Saudi Arabia’s investment in cybersecurity products, solutions, and services surged to SR13.3 billion ($3.55 billion) in 2023, reflecting a robust 10.83 percent increase from the SR12 billion spent in 2022.
	Saudi Arabia issues 57 regional HQ licenses for companies in Q2 More than 57 international firms received licenses to relocate their regional headquarters to Saudi Arabia during the second quarter of this year, representing an 84 percent year-on-year increase.
	UAE banks see 8.9% rise in short-term deposits to $14.7bn by May UAE-based banks attracted over 54 billion dirhams ($14.7 billion) in short-term deposits during the first five months of the year, marking an 8.9 percent increase from December 2023, official data showed.
	Oman, Europe trade hits $2.28m in May, marking 9.5% growth Oman’s trade exchange with European nations witnessed a notable rise by the end of May, reaching 878 million Omani rials ($2.28 billion).
	UAE national carriers fly to 606 destinations as travel demand picks up United Arab Emirates: The UAE’s national carriers are expanding their destinations, driven by the country’s strong global tourism and business reputation and the resurgence in travel demand.
	UAE non-oil foreign trade continues to set new milestones: Thani Al Zeyoudi Dr. Thani Bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, affirmed that the UAE has placed foreign trade at the centre of its economic agenda, recognising its pivotal role in driving industrial output, enhancing the global competitiveness of its products and services, as well as catalysing innovation.
	FTA renews its calls for Resident Juridical Persons The Federal Tax Authority (FTA) has renewed its calls for Resident Juridical Persons with Licences issued in June, irrespective of the year of issuance, to promptly submit their Corporate Tax registration application no later than 31 August 2024, in order to avoid Administrative Penalties.

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