Middle East Experience

Dubai authorities are hoping to welcome tourists back to the city at the beginning of July, after banning arrivals last month to combat the spread of the COVID-19 coronavirus.The UAE has temporarily banned visas on arrival for all nationalities and banned its citizens from traveling outside the country. Emirates and other Gulf airlines have begun to offer some flights out of the UAE for those looking to return home, but incoming flights are still unavailable except for government-organized repatriations.The reopening of the emirate to tourists will be a gradual process that could be delayed until September, depending on global trends, Helal al-Marri, director general of Dubai’s Department of Tourism and Commerce Marketing, said in an interview with Bloomberg TV on Tuesday.“Many countries remain closed and it’s more about the bilateral discussions,” al-Marri said. “Is it going to be July when things start slowly opening up? Is it going to be September? We just need to make sure we’re ready if things come earlier than expected.”The emirate announced last week that it would ease coronavirus lockdown restrictions. The 24-hour National Sterilisation Program was shortened and individuals across Dubai are now allowed to leave their homes between 6 a.m. and 10 p.m. without a permit.For all the latest coronavirus news visit our dedicated page.Tourism is an important industry for Dubai, with official estimates showing it received a record 16.73 million visitors in 2019. India, Saudi Arabia, and the UK are the emirate’s most important markets, while China is rapidly climbing the ranks.Arrivals have been driven down “to zero,” because of the coronavirus pandemic, al-Marri said. The industry will see a bounce back though, with a focus on “health and hygiene,” he added.In light of this change, some hotels may begin charging higher fees, he added.Al-Marri concluded by explaining it is not up to government authorities to restrict hotel construction, even as the industry faces an oversupply of rooms.“In Dubai, interacting with the sector, they are not interested at all in the government controlling either supply or pricing of hotel rooms,” he said. “Investors in the hotels definitely have the expertise and the experience to make their own decisions.”Dubai eases lockdownThe UAE emirate of Dubai announced that it would ease restrictions last week.The 24-hour National Sterilisation Program has been shortened, with individuals across Dubai allowed to leave their homes between 6 a.m. and 10 p.m. without a permit. The public will be required to strictly follow precautionary measures, which include maintaining social distancing from others while wearing a face mask. Those who do not wear a mask will be fined 1,000 dirhams.Individuals are also allowed to go outside to exercise for 1-2 hours each time, with a maximuim of three people in one group.Visiting of relatives is allowed, but restricted to no more than five people per gathering, while high-risk individuals above the age of 60, and those with underlying medical conditions, should continue to be isolated.Restaurants and shops in malls will open with a 30 percent capacity between 12 p.m. and 10 p.m. Malls will only operate with 25 percent of parking spaces available to limit the possibility of overcrowding.The UAE has reported 10,839 infections of coronavirus, with 82 dead. There have been over 2,000 recoveries so far. With Bloomberg.Read more:Dubai: Coronavirus health checks added in Nakheel Mall, Ibn Battuta Mall, Dragon MartCoronavirus: Dubai eases movement restrictions in both Naif, al-Ras populated areasDubai eases coronavirus restrictions as it marks Ramadan: 10 questions answered
Source: Al Arabiya
Full Article: Coronavirus: Dubai hopes to reopen for tourists at the beginning of July

The United Arab Emirates reported 541 new coronavirus cases and seven new deaths, bringing the total number of confirmed cases in the country to 11,380 and the virus-related death toll to 89, the Ministry of Health announced on Tuesday.For more coronavirus news, visit our dedicated page. The seven people of different nationalities died due to complications, the ministry added.Meanwhile, 91 more people recovered from the virus, which raises the total number of recoveries in the country to 2,181.The new cases were detected after an additional 25,000 tests were conducted, the ministry said. The UAE has for the past month been ramping up its testing efforts to contain the outbreak.Easing restrictions The UAE has eased restrictions that had been imposed to curb the outbreak.Dubai announced that the 24-hour curfew has been lifted, and residents are no longer required to apply for a permit if they want to leave their home.Also read: Coronavirus: Dubai closes 13 shops, warns 211 others for breaking COVID-19 ruleIndividuals across the emirates are allowed to go out between the hours of 6 a.m. and 10 p.m. but must adhere to precautionary measures.During the holy month of Ramadan, residents can go outside to exercise for one or two hours, with a maximum of three people allowed in one group.Visiting relatives is also allowed during the month, but no more than five people must be in one gathering.Read more:Dubai eases coronavirus restrictions as it marks Ramadan: 10 questions answeredCoronavirus: Dubai hopes to reopen for tourists at the beginning of July
Source: Al Arabiya
Full Article: Coronavirus: UAE reports 541 new cases, seven new deaths

Dubizzle-owner OLX Group is set to merge its UAE, Pakistan, Egypt and Lebanon businesses with Bayut-owner EMPG.OLX will also lead a $150 million investment round for EMPG, creating a unicorn company, a phrase used to refer to a privately held startup company valued at over $1 billion. OLX will retain a 39 percent share of the company, making it EMPG’s largest shareholder.“We, at Bayut and EMPG, are very excited about the future of the UAE real estate industry and the prospects of real estate in the MENA region … At the same time, we will be making significant technology investments to provide more value to all users of property, automotive and other segments of the Dubizzle and OLX platforms,” Haider Ali Khan, Head of EMPG – MENA said in an emailed statement to Al Arabiya English.EMPG in a statement said it would use the new capital to develop a range of new services and improve the user experience.“I'm proud of what we have built in these four markets. Our brands are household names, and currently help tens of millions of people to exchange goods and services every month. The next phase is an exciting one, with EMPG’s real estate industry expertise helping deepen the customer experience,” said CEO of OLX Group Martin Scheepbouwer.EMPG currently operates in the GCC with its Bayut platform, in Pakistan with Zameen, Bangladesh with Bproperty, Morocco and Tunisia with Mubawab, and Thailand with Kaidee. After the merger the company will operate OLX’s platforms in Pakistan, Saudi Arabia, Bahrain, Kuwait, Qatar, and Oman, and the dubizzle platform in the UAE, along with an expansion into Egypt and Lebanon. Coronavirus plunges MENA startup appetiteThe COVID-19 coronavirus has severely curtailed investor appetite for startup investment deals in the Middle East and North African (MENA) region, a report from startup data platform MAGNiTT showed earlier this month.In 2019, the region experienced a blockbuster year, with total funding hitting $3.8 billion, headlined by ride-sharing platform Careem, which sold to Uber for $3.1 billion. Careem's sale to Uber is the largest startup deal in the Middle East yet.A survey conducted by MAGNiTT found that around 59 percent of startup founders have already had their business impacted by the coronavirus, with nearly half citing revenue generation as their major concern.Over 40 percent expect lower-than-expected revenue growth rates in 2020, and 29 percent anticipate that their revenue will fall below 2019 figures.Prior to the pandemic, MENA startups started 2020 very positively. Over the first quarter of 2020, including March, funding rose 2 percent year-on-year, with big funding rounds for Kitopi, a cloud kitchen platform, Vezeeta, an Egyptian online medical scheduling service, and SellAnyCar, a Middle East car buying service, leading the way.These initial successes for the sector later slowed as the coronavirus took hold, prompting widespread business slowdown.Read more:Coronavirus: MENA startups hit as deals plunge 67 pct in March, says reportSaudi Arabia is a market that startups ‘really want to focus on:’ Jack SelbyFragmented markets are the ‘biggest challenge’ for MENA startups: Wamda Chairman
Source: Al Arabiya
Full Article: Dubizzle, Bayut to merge, forms Middle East’s only unicorn startup, bln valuation

Saudi Arabia reported 1,266 new coronavirus cases and eight new deaths, bringing the total number of confirmed cases in the Kingdom to 20,077 and the virus-related death toll to 152, the Ministry of Health reported.For more coronavirus news, visit our dedicated page.Twenty-three percent of the new cases are of Saudi Arabian nationals, while 77 percent are of non-Saudi residents, health ministry spokesman Mohammed al-Abd al-Ali said.One Saudi Arabian man died in Jeddah, two Saudi Arabian women died in Mecca, and five non-Saudi Arabian residents died in Mecca and Jeddah from the coronavirus. Most of them suffered from chronic illness, al-Abd al-Ali said.Out of the 20,077 cases, 17,141 cases are active, he added.A total of 118 cases are currently critical, al-Abd al-Ali said.Out of the 1,266 new cases, 327 were reported in Mecca, 273 in Medina, 262 in Jeddah, and 171 in Riyadh.The other cases were reported in cities and provinces around the Kingdom.Authorities in Saudi Arabia continue to urge people to stay at home unless necessary despite having relaxed some restrictions and curfews at the start of the holy month of Ramadan.Citizens and residents are allowed to go out for necessary needs between 9 a.m. and 5 p.m. but must adhere to precautionary measures such as wearing a face mask and maintaining social distancing practices. Read more: Saudi Arabia easing coronavirus lockdowns doesn’t mean danger has passed: MinisterCoronavirus: Saudi Arabia’s mosques will not reopen for Ramadan, says Ministry
Source: Al Arabiya
Full Article: Coronavirus: Cases in Saudi Arabia surpass 20,000 after 1,266 new cases reported

Lucid Motors, a US-based electric car manufacturer, announced that it would be entering select countries in the Middle East, starting with Saudi Arabia and the UAE.The company is backed by the Public Investment Fund, Saudi Arabia’s sovereign wealth fund (SWF), and received a $1 billion investment from the SWF in 2018 to get its first electric car model into production.Customers in the UAE and Saudi Arabia can reserve their Lucid Air sports sedan for around $1,000, with deliveries of the car expected in late 2021.The Lucid Air boasts up to 1,000 horsepower, a range of over 400 miles per charge, and can travel from zero to 60 miles per hour in under 2.5 seconds, the company said in a statement.“The Middle East is in a unique position to help ensure the growth of the electric vehicle market worldwide, and we are very excited to offer the Lucid Air in a region that is expected to become a key market,” said Peter Rawlinson, CEO and CTO, Lucid Motors.The production version of the Lucid Air is expected to debut later this year, along with final interior and exterior designs, available configurations, and pricing information.“As the region actively diversifies from traditional industries and explores new renewable energy sources, including solar and wind, Lucid will be able to offer a pure-electric vehicle that meets the unique needs of consumers, including real inter-city range alongside unsurpassed power and luxury,” Rawlinson added.Read more:GM to invest $2.2 bln in Detroit to build electric vehiclesTurki Al-Sheikh unveils electric ‘Car 2030’ at Riyadh Car ShowMerkel wants Germany to have 1 mln electric car charging points by 2030
Source: Al Arabiya
Full Article: Saudi PIF-backed electric car company Lucid Motors enters Saudi Arabia, UAE markets

In nearby Saudi Arabia, nearly half of respondents believe that the market will remain stagnant or go up in the first half of the year
Source: Arabian Business
Full Article: 34% of UAE renters, owners believe property market will stay the same or rise in H1

In the UAE and Pakistan, both groups' platforms will be operated by EPMG
Source: Arabian Business
Full Article: Bayut parent company EPMG announces merger with OLX Group

Results had been awaited with anticipation, with many Lebanese hoping a major hydrocarbon discovery could help redress the debt-burdened economy
Source: Arabian Business
Full Article: Lebanon offshore drilling finds no commercially viable gas: minister

The new facilities at Zayed Port and Khalifa Port can process up to 700 tests each day
Source: Arabian Business
Full Article: Covid-19 testing facilities installed at Abu Dhabi ports

It's up to brokers to reform the city's property market, and here's how they can do it
Source: Arabian Business
Full Article: Opinion: What Dubai's real estate market really needs