Richmond Properties

The value of Dubai mortgage registrations rose 14% to approximately $41 billion in the first nine months of 2026, according to figures cited in the latest reporting. Separately, September off-plan sales were reported to be 49% lower than a year earlier. The figures cover different periods and measure different activity, but show why Dubai’s property market needs to be assessed beyond a single headline. Mortgage registrations can include refinancing as well as purchase financing, so the increase does not directly measure growth in home purchases. #dubai #mortgages #investingindubai #livingindubai #uaenews

Major Global News: Jensen Huang has resigned as Nvidia’s president, CEO and board member, with CFO Colette Kress appointed interim CEO. Kress will retain her finance role while the board considers internal and external candidates for a permanent successor. Harvey C. Jones has been appointed board chair. Nvidia’s announcement did not give a reason for Huang’s departure. The company says operations, customer commitments and its product roadmap are expected to continue without interruption, with quarterly results scheduled for 17 November. #jensenhuang #globalnews #nvidia

The US says it is holding off on further strikes against Iran while maintaining its blockade and economic pressure. Speaking on 10 November, Donald Trump said military action was not necessary “at this point”. Secretary of State Marco Rubio delivered a similar message at the G7 foreign ministers’ meeting in Paris. Qatar continues its mediation efforts, but Iranian officials deny that negotiations with Washington are under way. The statements signal a pause in further US strikes, with no ceasefire or agreement to end the conflict announced. #iran #america #news #conflict #donaldtrump #marcorubio

Nakheel has unveiled Palm Springs, a planned community for approximately 50,000 residents next to Palm Jebel Ali. Spanning 3.8 million square metres, the development will include 15 neighbourhoods of villas, townhouses and apartments, alongside two schools, a hospital, six mosques, a country club and a sports club. Around 593,000 square metres are allocated to open space, with more than 35 kilometres of walking and cycling routes. The masterplan was announced on 10 November. Its total value and delivery timeline have not yet been disclosed. #uaenews #dubainews #newdevelopment #palmjumeriah #palmjebelali

The six GCC countries have signed a unified railway agreement, setting a common framework for a regional network targeted to begin operating by the end of 2030. Reported progress stands at approximately 56%, with forecasts of six million passengers and 200 million tonnes of freight in 2030. The agreement is a significant step towards connecting Gulf markets by rail. Individual routes, border procedures and connections to national networks will determine how passengers and businesses can use the service. #GCC #transport #dailynews #middleeast #uaenews #dubai

The UAE’s non-oil trade reached AED2.945 trillion in the first nine months of 2026, up 10.1% compared with the same period last year. Exports rose 21.6% to a record AED705.8 billion, accounting for almost a quarter of total trade. September also became the first month in which exports exceeded AED100 billion. The figures show continued growth in the UAE’s trading activity. Gold was an important contributor, with Switzerland and Hong Kong among the leading export destinations. #trade #middleeast #uae #worldnews

Strengthening our strategic partnership with Binghatti. 🤝 Today, we welcomed Essam Ragab, Deputy Chief Sales Officer, and the Binghatti team to Richmond Properties for a briefing on Dubai’s evolving real estate landscape and the opportunities ahead. With colleagues from training, sales and client partnerships joining us, it was a valuable opportunity to exchange insights and build on the collaboration that supports our advisors and clients. Thank you to the Binghatti team. We’re excited for what we can achieve together. #binghatti #investinginrealestate #uaedevelopers #realestate

Sheikh Hamdan bin Mohammed has announced the first six recipients of the Dubai-it Award, a new annual recognition of speed, quality and execution across business and public-facing projects. Omniyat founder Mahdi Amjad received the real estate projects award. Other recipients included Emirates NBD, DMCC’s Ahmed bin Sulayem, online retailer Ounass, Humantra founder Charlie Wright and chef Izu Ani. Announced on 4 November, the awards reflect Sheikh Mohammed bin Rashid’s “Dubai-it” philosophy, recognising people and organisations that turn ambitious plans into completed work across property, finance, services and hospitality. #dubaiit #uaenews #SheikhMohammedbinRashid

Brent crude extended its decline into a fourth consecutive day on 5 November, trading around $93.60 a barrel early in the Gulf day as investors reassessed the likelihood of further major US strikes on Iran. US crude traded near $87.10. These were intraday readings, rather than closing prices. MUFG also reported that the premium for near-term Brent contracts had narrowed to below $2.50 a barrel, from more than $5 in mid-October, suggesting reduced concern about immediate supply shortages. Shipping attacks continued, however, and no agreement restoring normal Hormuz traffic had been announced. #oilprices #usmidterms #hormuz #uaenews #dailynews

Brent crude settled at $103.60 a barrel on Tuesday, its lowest closing price since 7 October, as traders weighed progress in diplomatic efforts involving Iran and Ukraine. The international benchmark fell $1.17, following a much larger decline on Monday. US crude settled at $96.09. Prices had briefly risen earlier in the session following reports of US strikes on Qeshm Island. The reversal shows how sensitive the market remains to developments around negotiations and shipping access. No agreement restoring normal passage through the Strait of Hormuz had been announced. #oilprices #uaenews #worldnews #middleeast

Democrats are projected to take control of both the US House of Representatives and Senate following the 3 November midterm elections, with several races still uncalled in the latest count. The result would create divided government when the new Congress takes office in January 2027. Democrats would control congressional committees and gain greater influence over legislation, spending and oversight, while President Donald Trump would retain presidential powers and his veto. Early market trading saw US government bond yields and the dollar decline as investors reassessed the prospects for further tax cuts and fiscal stimulus. #USA #midterms #news #uaenews #globalnews #senate

Dubai has launched the Dubai Access Club, a membership programme for repeat visitors, developed by its residency authority, the Department of Economy and Tourism, and Digital Dubai. The initiative was announced on 1 November, although membership benefits have not yet been disclosed. Tourist visa applications are also moving to the Visit Dubai platform, with Dubai’s residency authority continuing to issue the visas. #dubaiaccessclub #visitingdubai #uaenews #dubainews

Abu Dhabi has signed four agreements with OpenAI, the company behind ChatGPT, covering applications across government, investment, business and education. One project will convert regulations into a format AI systems can process, helping officials assess permits and compliance. Its first pilot covers food imports through Abu Dhabi’s food safety authority. Officials will retain responsibility for final decisions. #openai #chatgpt #uaenews #abudhabi

Happy UAE Flag Day. 🇦🇪 A flag that brings together people from around the world, proud to call this country home. At Richmond Properties, it represents where our team has grown and our clients have built their futures. May it always fly high. #uaeflagday #dubai #uae #richmondproperties

Microsoft reported revenue of $92.28 billion, including $63.9 billion from its cloud business, beating expectations and sending its shares higher after Wednesday’s US market close. Alphabet, the parent company of Google, reported 25% revenue growth to $127.6 billion, but net income fell to $26.17 billion. Its shares dropped around 9% in after-hours trading, showing that strong sales growth alone did not satisfy investors. #microsoft #google #dailynews #usmarket

The UAE and Canada have launched a strategic partnership following the signing of a trade agreement in Ottawa on 27 October. Once fully in force, the agreement will cut or remove tariffs on more than 99% of Canadian exports to the UAE. Abu Dhabi Crown Prince Sheikh Khaled bin Mohamed met Prime Minister Mark Carney the following day, with further agreements covering defence, renewable energy and diplomatic training. #canada #uaenews #ottawa #strategicpartnership #dailynews

US investment firm Apollo Global Management has agreed to acquire a minority stake in Mubadala Capital, an Abu Dhabi-based investment manager. Apollo manages approximately $1.05 trillion for clients including pension funds and insurers. Mubadala Capital’s core alternative-investment business manages more than $60 billion, investing in areas such as private companies and corporate lending. CNBC and Bloomberg reported that Apollo’s stake would be close to 10%, although neither company disclosed the percentage. Other strategic investors are expected to commit approximately $5 billion to Mubadala Capital’s investment strategies. The deal, expected to close in Q4 2026 subject to approvals, deepens investment ties between a major US asset manager and Abu Dhabi’s financial sector. #us #investemnetfirm #financialsector #uaenews #abudhabi #apollo #mubadala

Dubai AI Campus is targeting more than 1,000 specialised companies and over 5,000 highly skilled jobs by 2030, under new targets approved by Sheikh Hamdan bin Mohammed on Monday. The DIFC-based campus already hosts more than 500 firms and has attracted over AED1 billion in investment, reaching its original targets two years early. Plans for a new headquarters were also reviewed. #ai #difc #uaenews #jobs #investment

Dubai recorded 412 home sales above $10 million in the first nine months of 2026, up 15% year on year and worth approximately $6.67 billion, according to Knight Frank. Activity slowed in Q3, with 86 sales, down 17% annually. Prime prices across 10 neighbourhoods also fell 5% from Q2, showing how a strong start to the year has given way to softer trading conditions. #investinginproperty #investingindubai #propertymarket #uaenews #marketupdates

Representatives from Saudi Arabia, Türkiye, Pakistan and Egypt met with the UK, France, Germany and Italy in Istanbul to discuss regional security. The countries condemned Houthi attacks on Saudi civilians and Red Sea shipping, and called for diplomacy. They agreed to meet regularly, establishing a continuing forum for talks, although no concrete mechanism for resolving the conflict was announced. #reginalsecurity #middleeast #news