Business from Thursday, January 2nd, 2025

Dubai’s real estate market had a record-breaking year, with new milestones being set throughout 2024, culminating in an all-time peak of 180,900 transactions worth AED522.1 billion, according to a report issued on Thursday by fäm Properties.

Abu Dhabi's Mubadala Investment Company accounted for about 20 per cent of the almost $136.1 billion spent by sovereign wealth funds worldwide last year, overtaking Saudi Arabia's wealth fund amid a surge in spending from Gulf countries.

Dubai Duty Free completed 2024 with a record annual turnover of AED 7.901 billion ($2.16 billion) as sales surged towards the end of the year.