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  • Agrofood
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    Global Agrifood Systems Require $1.1 Trillion Annually to Achieve Sustainability Goals by 2030

    Global Agrifood Systems Require $1.1 Trillion Annually to Achieve Sustainability Goals by 2030

    FAO Report Highlights Severe Agricultural Land Degradation Across the Arab Region

    FAO Report Highlights Severe Agricultural Land Degradation Across the Arab Region

    Oman: Over 250 Model Farms Drive Fruit Production Growth in Dhahirah

    Oman: Over 250 Model Farms Drive Fruit Production Growth in Dhahirah

    Africa: From Food Importer to Global Powerhouse

    Africa: From Food Importer to Global Powerhouse

    Oman Eyes Boost in Grape Production Through Smart Farming and Model Farms

    Oman Eyes Boost in Grape Production Through Smart Farming and Model Farms

    Oman Launches Integrated Agriculture Hub in Dhofar’s Najd Region

    Oman Launches Integrated Agriculture Hub in Dhofar’s Najd Region

    Citrus and Potatoes Lead Egypt’s H1 Agricultural Exports, Reaching 5.2 Million Tonnes

    Citrus and Potatoes Lead Egypt’s H1 Agricultural Exports, Reaching 5.2 Million Tonnes

    Food Tech Market Set to Reach $224.31B by 2032, Powered by Smart Kitchens and Sustainable Innovation

    Food Tech Market Set to Reach $224.31B by 2032, Powered by Smart Kitchens and Sustainable Innovation

    GCC Drone Market to Surpass USD 2 Billion by 2033, Driven by Tech Innovation and Industry Demand

    GCC Drone Market to Surpass USD 2 Billion by 2033, Driven by Tech Innovation and Industry Demand

    Trending Tags

    • Business & Economy
      • All
      • Business
      • Economy
      • Finance
      • Industry
      • Trade
      Oman Signs $520 Million Salt Mining Deal as Part of Mining Sector Expansion

      Oman Signs $520 Million Salt Mining Deal as Part of Mining Sector Expansion

      Oman’s Manufacturing Sector Adds $10 Billion to the National Economy

      Oman’s Manufacturing Sector Adds $10 Billion to the National Economy

      Oman Advances Vision 2040 with 95% of Strategic Programs Underway

      Oman Advances Vision 2040 with 95% of Strategic Programs Underway

      Saudi Arabia Launches Second Phase of Industrial Incentives to Attract High-Value Investment

      Saudi Arabia Launches Second Phase of Industrial Incentives to Attract High-Value Investment

      Qatar’s Economy to Grow 6.5% by 2027 on LNG Expansion – World Bank

      Qatar’s Economy to Grow 6.5% by 2027 on LNG Expansion – World Bank

      GCC Economic Growth Revised Upward to 4.4% in 2025 Despite Global Trade Tensions

      GCC Economic Growth Revised Upward to 4.4% in 2025 Despite Global Trade Tensions

      UAE Economy Poised to Grow 5.1% in 2025 — ICAEW

      UAE Economy Poised to Grow 5.1% in 2025 — ICAEW

      Iraq Plans Major Cement Industry Expansion with New Plants Producing 52 Million Tons Annually

      Iraq Plans Major Cement Industry Expansion with New Plants Producing 52 Million Tons Annually

      UAE’s GDP Reaches $483 Billion in 2024, Fueled by Non-Oil Expansion

      UAE’s GDP Reaches $483 Billion in 2024, Fueled by Non-Oil Expansion

      Trending Tags

      • Construction
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        • Facility Management
        • Real Estate
        • Sustainability
        Saudi Arabia’s Construction Market Set to Hit $96 Billion by 2030

        Saudi Arabia’s Construction Market Set to Hit $96 Billion by 2030

        New Aerial Images Showcase the Monumental Scale of Baghdad’s $1 Billion+ Landmark Project

        New Aerial Images Showcase the Monumental Scale of Baghdad’s $1 Billion+ Landmark Project

        Iraq Pushes Ahead with Full Infrastructure Rollout for New Al-Sadr City

        Iraq Pushes Ahead with Full Infrastructure Rollout for New Al-Sadr City

        Abu Dhabi’s Aldar Targets 87% Construction Waste Recycling In 2025 Sustainability Push

        Abu Dhabi’s Aldar Targets 87% Construction Waste Recycling In 2025 Sustainability Push

        Global Modular Construction Market to Hit USD 157.9 Billion by 2032

        Global Modular Construction Market to Hit USD 157.9 Billion by 2032

        GCC Drone Market to Surpass USD 2 Billion by 2033, Driven by Tech Innovation and Industry Demand

        GCC Drone Market to Surpass USD 2 Billion by 2033, Driven by Tech Innovation and Industry Demand

        GCC Cement Market Forecasted to Reach 142.8 Million Tons by 2033, Growing at a 4.7% CAGR

        GCC Cement Market Forecasted to Reach 142.8 Million Tons by 2033, Growing at a 4.7% CAGR

        Qatar’s Infrastructure Sector Set for Robust Growth and Investment Opportunities

        Qatar’s Infrastructure Sector Set for Robust Growth and Investment Opportunities

        Ashghal to Launch 10 New Drainage Projects in Q4 2025

        Ashghal to Launch 10 New Drainage Projects in Q4 2025

        Trending Tags

        • Energy
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          Turkish Firm ENKA Secures $289M Contract to Upgrade Power Plant in Iraq’s Sulaymaniyah

          Turkish Firm ENKA Secures $289M Contract to Upgrade Power Plant in Iraq’s Sulaymaniyah

          Oman Seeks Bids for Two Major Substation Projects

          Oman Seeks Bids for Two Major Substation Projects

          Iraq Set to Launch First Nuclear Training Reactor in Partnership with China

          Iraq Set to Launch First Nuclear Training Reactor in Partnership with China

          Qatar 2025: From Energy Powerhouse to Innovation Leader

          Qatar 2025: From Energy Powerhouse to Innovation Leader

          Iraq Aims for 12 GW of Renewable Energy by 2030

          Iraq Aims for 12 GW of Renewable Energy by 2030

          Iraq Launches Ambitious Plan for 1,000 Solar Projects in Three Years

          Iraq Launches Ambitious Plan for 1,000 Solar Projects in Three Years

          Iraq and Power China International Sign Deal to Strengthen National Power Grid

          Iraq and Power China International Sign Deal to Strengthen National Power Grid

          Qatar Adds 875 MW in Solar Power, Boosts Renewable Energy Push

          Qatar Adds 875 MW in Solar Power, Boosts Renewable Energy Push

          Oman Breaks Ground on $1.6 Billion Marsa LNG Project in Suhar

          Oman Breaks Ground on $1.6 Billion Marsa LNG Project in Suhar

          Trending Tags

          • Healthcare
            Qatar Medicare 2025 Returns to Doha as the Premier International Healthcare Platform

            Qatar Medicare 2025 Returns to Doha as the Premier International Healthcare Platform

            Qatar’s Health Spending Set to Climb 14% by 2029

            Qatar’s Health Spending Set to Climb 14% by 2029

            Qatar Precision Health Institute and Qatar Foundation’s Pre-University Education Expand Collaboration to Inspire Future Scientists

            Qatar Precision Health Institute and Qatar Foundation’s Pre-University Education Expand Collaboration to Inspire Future Scientists

            Qatar and the UK Explore Deeper Cooperation in Healthcare

            Qatar and the UK Explore Deeper Cooperation in Healthcare

            The View Hospital Becomes Qatar’s First Private Facility with a Dedicated Dialysis Unit

            The View Hospital Becomes Qatar’s First Private Facility with a Dedicated Dialysis Unit

            Qatar’s Ambulance System Sets Global Benchmark with Cutting-Edge Pre-Hospital Care

            Qatar’s Ambulance System Sets Global Benchmark with Cutting-Edge Pre-Hospital Care

            Sidra Medicine Pioneers Holistic, Culturally Sensitive Fertility Care in Qatar

            Sidra Medicine Pioneers Holistic, Culturally Sensitive Fertility Care in Qatar

            Hamad Medical Corporation Receives Global Recognition with JCI Accreditation

            Hamad Medical Corporation Receives Global Recognition with JCI Accreditation

            Daewoong Pharmaceutical Debuts Nabotah Botulinum Toxin in Qatar

            Daewoong Pharmaceutical Debuts Nabotah Botulinum Toxin in Qatar

            Trending Tags

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              • Tourism
              Saudi Arabia Welcomes Record 116 Million Tourists in 2024, Spending Reaches $76 Billion

              Saudi Arabia Welcomes Record 116 Million Tourists in 2024, Spending Reaches $76 Billion

              Oman Secures $6.7 Billion in Tourism Investments Toward $7.8 Billion Goal by 2025

              Oman Secures $6.7 Billion in Tourism Investments Toward $7.8 Billion Goal by 2025

              Oman Unveils 3-Kilometer Tourist Walkway in Nakhal: A Transformative Step for Local Tourism

              Oman Unveils 3-Kilometer Tourist Walkway in Nakhal: A Transformative Step for Local Tourism

              Middle East’s Schengen Style GCC Tourist Visa Approved, to be Rolled Out ‘Soon’

              Middle East’s Schengen Style GCC Tourist Visa Approved, to be Rolled Out ‘Soon’

              Oman’s Hotel Sector Sees Strong Growth in Revenues and International Guests

              Oman’s Hotel Sector Sees Strong Growth in Revenues and International Guests

              Middle East Tourism Spending Set to Reach $350 Billion by 2030, Driven by Luxury, Sports, and Business Travel Boom

              Middle East Tourism Spending Set to Reach $350 Billion by 2030, Driven by Luxury, Sports, and Business Travel Boom

              Qatar’s Evolving Culinary Landscape Gains Global Attention as a Tourism Driver

              Qatar’s Evolving Culinary Landscape Gains Global Attention as a Tourism Driver

              Qatar’s Tourism Sector Adds $14.9 Billion to GDP in 2024, Marks 14% Growth

              Qatar’s Tourism Sector Adds $14.9 Billion to GDP in 2024, Marks 14% Growth

              Qatar Launches AI-Driven Health Tourism Strategy to Position Doha as a Global Medical Travel Destination

              Qatar Launches AI-Driven Health Tourism Strategy to Position Doha as a Global Medical Travel Destination

              Trending Tags

              • Manufacturing
                • All
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                Oman’s Manufacturing Sector Adds $10 Billion to the National Economy

                Oman’s Manufacturing Sector Adds $10 Billion to the National Economy

                Abu Dhabi’s Aldar Targets 87% Construction Waste Recycling In 2025 Sustainability Push

                Abu Dhabi’s Aldar Targets 87% Construction Waste Recycling In 2025 Sustainability Push

                Qatar Strengthens Circular Economy with Expansion of Recycling Facilities

                Qatar Strengthens Circular Economy with Expansion of Recycling Facilities

                Food Tech Market Set to Reach $224.31B by 2032, Powered by Smart Kitchens and Sustainable Innovation

                Food Tech Market Set to Reach $224.31B by 2032, Powered by Smart Kitchens and Sustainable Innovation

                Packaging Becomes Lifeline for Struggling Print Industry

                Packaging Becomes Lifeline for Struggling Print Industry

                MENA’s Coated Printing and Writing Paper Market Forecast to Grow 1.6% Annually Through 2035

                MENA’s Coated Printing and Writing Paper Market Forecast to Grow 1.6% Annually Through 2035

                Oman Recycles 2.4 Million Tonnes of Construction Waste in 2024

                Oman Recycles 2.4 Million Tonnes of Construction Waste in 2024

                Printed Packaging Labels & Release Liners Set for Strong Global Growth

                Printed Packaging Labels & Release Liners Set for Strong Global Growth

                How 3D printing is changing packaging

                How 3D printing is changing packaging

                Trending Tags

                • Technology
                  • All
                  • Business Tech
                  • IT & Telecom
                  GCC Drone Market to Surpass USD 2 Billion by 2033, Driven by Tech Innovation and Industry Demand

                  GCC Drone Market to Surpass USD 2 Billion by 2033, Driven by Tech Innovation and Industry Demand

                  Empowering Oman’s Future: Turning AI Vision into Practical Impact

                  Empowering Oman’s Future: Turning AI Vision into Practical Impact

                  Qatar’s Thriving Tech Sector Boosts GDP and Attracts Global Talent

                  Qatar’s Thriving Tech Sector Boosts GDP and Attracts Global Talent

                  Cisco VP: GCC Must Bridge AI Readiness Gap with Investment in Infrastructure, Skills, and Security

                  Cisco VP: GCC Must Bridge AI Readiness Gap with Investment in Infrastructure, Skills, and Security

                  How AI Is Shaping the Workforce of Tomorrow

                  How AI Is Shaping the Workforce of Tomorrow

                  How AI and Digital Labour Are Reshaping the Future of Work in the Middle East

                  How AI and Digital Labour Are Reshaping the Future of Work in the Middle East

                  Why the Middle East’s AI Strategy Needs More Than Just Large Language Models

                  Why the Middle East’s AI Strategy Needs More Than Just Large Language Models

                  Middle East Businesses Ramp Up AI Investments as 91% Expect Productivity Gains

                  Middle East Businesses Ramp Up AI Investments as 91% Expect Productivity Gains

                  Driving Middle East Growth: Accelerating AI and Cloud Adoption for Smarter Governance

                  Driving Middle East Growth: Accelerating AI and Cloud Adoption for Smarter Governance

                  Trending Tags

                  • Transport & Logistics
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                    Iraq Launches New US$930 Million Railway Project to Strengthen Connectivity and Drive Economic Growth

                    Iraq Launches New US$930 Million Railway Project to Strengthen Connectivity and Drive Economic Growth

                    Iraq Pushes Ahead with Full Infrastructure Rollout for New Al-Sadr City

                    Iraq Pushes Ahead with Full Infrastructure Rollout for New Al-Sadr City

                    GCC Drone Market to Surpass USD 2 Billion by 2033, Driven by Tech Innovation and Industry Demand

                    GCC Drone Market to Surpass USD 2 Billion by 2033, Driven by Tech Innovation and Industry Demand

                    Saudi Arabia Unveils $7 Billion Cross-Kingdom Rail Corridor

                    Saudi Arabia Unveils $7 Billion Cross-Kingdom Rail Corridor

                    Riyadh Unveils Final Master Plan for Expo 2030

                    Riyadh Unveils Final Master Plan for Expo 2030

                    Qatar’s Infrastructure Sector Set for Robust Growth and Investment Opportunities

                    Qatar’s Infrastructure Sector Set for Robust Growth and Investment Opportunities

                    Saudi Arabia Unveils New Unified Road Code to Transform National Transport

                    Saudi Arabia Unveils New Unified Road Code to Transform National Transport

                    Oman: A Strategic Logistics Hub with World-Class Infrastructure

                    Oman: A Strategic Logistics Hub with World-Class Infrastructure

                    Building resilience in Africa’s agrifood supply chains

                    Building resilience in Africa’s agrifood supply chains

                    Trending Tags

                    • Events
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                    • Agrofood
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                      Global Agrifood Systems Require $1.1 Trillion Annually to Achieve Sustainability Goals by 2030

                      Global Agrifood Systems Require $1.1 Trillion Annually to Achieve Sustainability Goals by 2030

                      FAO Report Highlights Severe Agricultural Land Degradation Across the Arab Region

                      FAO Report Highlights Severe Agricultural Land Degradation Across the Arab Region

                      Oman: Over 250 Model Farms Drive Fruit Production Growth in Dhahirah

                      Oman: Over 250 Model Farms Drive Fruit Production Growth in Dhahirah

                      Africa: From Food Importer to Global Powerhouse

                      Africa: From Food Importer to Global Powerhouse

                      Oman Eyes Boost in Grape Production Through Smart Farming and Model Farms

                      Oman Eyes Boost in Grape Production Through Smart Farming and Model Farms

                      Oman Launches Integrated Agriculture Hub in Dhofar’s Najd Region

                      Oman Launches Integrated Agriculture Hub in Dhofar’s Najd Region

                      Citrus and Potatoes Lead Egypt’s H1 Agricultural Exports, Reaching 5.2 Million Tonnes

                      Citrus and Potatoes Lead Egypt’s H1 Agricultural Exports, Reaching 5.2 Million Tonnes

                      Food Tech Market Set to Reach $224.31B by 2032, Powered by Smart Kitchens and Sustainable Innovation

                      Food Tech Market Set to Reach $224.31B by 2032, Powered by Smart Kitchens and Sustainable Innovation

                      GCC Drone Market to Surpass USD 2 Billion by 2033, Driven by Tech Innovation and Industry Demand

                      GCC Drone Market to Surpass USD 2 Billion by 2033, Driven by Tech Innovation and Industry Demand

                      Trending Tags

                      • Business & Economy
                        • All
                        • Business
                        • Economy
                        • Finance
                        • Industry
                        • Trade
                        Oman Signs $520 Million Salt Mining Deal as Part of Mining Sector Expansion

                        Oman Signs $520 Million Salt Mining Deal as Part of Mining Sector Expansion

                        Oman’s Manufacturing Sector Adds $10 Billion to the National Economy

                        Oman’s Manufacturing Sector Adds $10 Billion to the National Economy

                        Oman Advances Vision 2040 with 95% of Strategic Programs Underway

                        Oman Advances Vision 2040 with 95% of Strategic Programs Underway

                        Saudi Arabia Launches Second Phase of Industrial Incentives to Attract High-Value Investment

                        Saudi Arabia Launches Second Phase of Industrial Incentives to Attract High-Value Investment

                        Qatar’s Economy to Grow 6.5% by 2027 on LNG Expansion – World Bank

                        Qatar’s Economy to Grow 6.5% by 2027 on LNG Expansion – World Bank

                        GCC Economic Growth Revised Upward to 4.4% in 2025 Despite Global Trade Tensions

                        GCC Economic Growth Revised Upward to 4.4% in 2025 Despite Global Trade Tensions

                        UAE Economy Poised to Grow 5.1% in 2025 — ICAEW

                        UAE Economy Poised to Grow 5.1% in 2025 — ICAEW

                        Iraq Plans Major Cement Industry Expansion with New Plants Producing 52 Million Tons Annually

                        Iraq Plans Major Cement Industry Expansion with New Plants Producing 52 Million Tons Annually

                        UAE’s GDP Reaches $483 Billion in 2024, Fueled by Non-Oil Expansion

                        UAE’s GDP Reaches $483 Billion in 2024, Fueled by Non-Oil Expansion

                        Trending Tags

                        • Construction
                          • All
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                          • Real Estate
                          • Sustainability
                          Saudi Arabia’s Construction Market Set to Hit $96 Billion by 2030

                          Saudi Arabia’s Construction Market Set to Hit $96 Billion by 2030

                          New Aerial Images Showcase the Monumental Scale of Baghdad’s $1 Billion+ Landmark Project

                          New Aerial Images Showcase the Monumental Scale of Baghdad’s $1 Billion+ Landmark Project

                          Iraq Pushes Ahead with Full Infrastructure Rollout for New Al-Sadr City

                          Iraq Pushes Ahead with Full Infrastructure Rollout for New Al-Sadr City

                          Abu Dhabi’s Aldar Targets 87% Construction Waste Recycling In 2025 Sustainability Push

                          Abu Dhabi’s Aldar Targets 87% Construction Waste Recycling In 2025 Sustainability Push

                          Global Modular Construction Market to Hit USD 157.9 Billion by 2032

                          Global Modular Construction Market to Hit USD 157.9 Billion by 2032

                          GCC Drone Market to Surpass USD 2 Billion by 2033, Driven by Tech Innovation and Industry Demand

                          GCC Drone Market to Surpass USD 2 Billion by 2033, Driven by Tech Innovation and Industry Demand

                          GCC Cement Market Forecasted to Reach 142.8 Million Tons by 2033, Growing at a 4.7% CAGR

                          GCC Cement Market Forecasted to Reach 142.8 Million Tons by 2033, Growing at a 4.7% CAGR

                          Qatar’s Infrastructure Sector Set for Robust Growth and Investment Opportunities

                          Qatar’s Infrastructure Sector Set for Robust Growth and Investment Opportunities

                          Ashghal to Launch 10 New Drainage Projects in Q4 2025

                          Ashghal to Launch 10 New Drainage Projects in Q4 2025

                          Trending Tags

                          • Energy
                            • All
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                            • Renewable Energy
                            Turkish Firm ENKA Secures $289M Contract to Upgrade Power Plant in Iraq’s Sulaymaniyah

                            Turkish Firm ENKA Secures $289M Contract to Upgrade Power Plant in Iraq’s Sulaymaniyah

                            Oman Seeks Bids for Two Major Substation Projects

                            Oman Seeks Bids for Two Major Substation Projects

                            Iraq Set to Launch First Nuclear Training Reactor in Partnership with China

                            Iraq Set to Launch First Nuclear Training Reactor in Partnership with China

                            Qatar 2025: From Energy Powerhouse to Innovation Leader

                            Qatar 2025: From Energy Powerhouse to Innovation Leader

                            Iraq Aims for 12 GW of Renewable Energy by 2030

                            Iraq Aims for 12 GW of Renewable Energy by 2030

                            Iraq Launches Ambitious Plan for 1,000 Solar Projects in Three Years

                            Iraq Launches Ambitious Plan for 1,000 Solar Projects in Three Years

                            Iraq and Power China International Sign Deal to Strengthen National Power Grid

                            Iraq and Power China International Sign Deal to Strengthen National Power Grid

                            Qatar Adds 875 MW in Solar Power, Boosts Renewable Energy Push

                            Qatar Adds 875 MW in Solar Power, Boosts Renewable Energy Push

                            Oman Breaks Ground on $1.6 Billion Marsa LNG Project in Suhar

                            Oman Breaks Ground on $1.6 Billion Marsa LNG Project in Suhar

                            Trending Tags

                            • Healthcare
                              Qatar Medicare 2025 Returns to Doha as the Premier International Healthcare Platform

                              Qatar Medicare 2025 Returns to Doha as the Premier International Healthcare Platform

                              Qatar’s Health Spending Set to Climb 14% by 2029

                              Qatar’s Health Spending Set to Climb 14% by 2029

                              Qatar Precision Health Institute and Qatar Foundation’s Pre-University Education Expand Collaboration to Inspire Future Scientists

                              Qatar Precision Health Institute and Qatar Foundation’s Pre-University Education Expand Collaboration to Inspire Future Scientists

                              Qatar and the UK Explore Deeper Cooperation in Healthcare

                              Qatar and the UK Explore Deeper Cooperation in Healthcare

                              The View Hospital Becomes Qatar’s First Private Facility with a Dedicated Dialysis Unit

                              The View Hospital Becomes Qatar’s First Private Facility with a Dedicated Dialysis Unit

                              Qatar’s Ambulance System Sets Global Benchmark with Cutting-Edge Pre-Hospital Care

                              Qatar’s Ambulance System Sets Global Benchmark with Cutting-Edge Pre-Hospital Care

                              Sidra Medicine Pioneers Holistic, Culturally Sensitive Fertility Care in Qatar

                              Sidra Medicine Pioneers Holistic, Culturally Sensitive Fertility Care in Qatar

                              Hamad Medical Corporation Receives Global Recognition with JCI Accreditation

                              Hamad Medical Corporation Receives Global Recognition with JCI Accreditation

                              Daewoong Pharmaceutical Debuts Nabotah Botulinum Toxin in Qatar

                              Daewoong Pharmaceutical Debuts Nabotah Botulinum Toxin in Qatar

                              Trending Tags

                              • Hospitality
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                                • Tourism
                                Saudi Arabia Welcomes Record 116 Million Tourists in 2024, Spending Reaches $76 Billion

                                Saudi Arabia Welcomes Record 116 Million Tourists in 2024, Spending Reaches $76 Billion

                                Oman Secures $6.7 Billion in Tourism Investments Toward $7.8 Billion Goal by 2025

                                Oman Secures $6.7 Billion in Tourism Investments Toward $7.8 Billion Goal by 2025

                                Oman Unveils 3-Kilometer Tourist Walkway in Nakhal: A Transformative Step for Local Tourism

                                Oman Unveils 3-Kilometer Tourist Walkway in Nakhal: A Transformative Step for Local Tourism

                                Middle East’s Schengen Style GCC Tourist Visa Approved, to be Rolled Out ‘Soon’

                                Middle East’s Schengen Style GCC Tourist Visa Approved, to be Rolled Out ‘Soon’

                                Oman’s Hotel Sector Sees Strong Growth in Revenues and International Guests

                                Oman’s Hotel Sector Sees Strong Growth in Revenues and International Guests

                                Middle East Tourism Spending Set to Reach $350 Billion by 2030, Driven by Luxury, Sports, and Business Travel Boom

                                Middle East Tourism Spending Set to Reach $350 Billion by 2030, Driven by Luxury, Sports, and Business Travel Boom

                                Qatar’s Evolving Culinary Landscape Gains Global Attention as a Tourism Driver

                                Qatar’s Evolving Culinary Landscape Gains Global Attention as a Tourism Driver

                                Qatar’s Tourism Sector Adds $14.9 Billion to GDP in 2024, Marks 14% Growth

                                Qatar’s Tourism Sector Adds $14.9 Billion to GDP in 2024, Marks 14% Growth

                                Qatar Launches AI-Driven Health Tourism Strategy to Position Doha as a Global Medical Travel Destination

                                Qatar Launches AI-Driven Health Tourism Strategy to Position Doha as a Global Medical Travel Destination

                                Trending Tags

                                • Manufacturing
                                  • All
                                  • Packaging
                                  • Paper
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                                  • Sustainability & Recycling
                                  Oman’s Manufacturing Sector Adds $10 Billion to the National Economy

                                  Oman’s Manufacturing Sector Adds $10 Billion to the National Economy

                                  Abu Dhabi’s Aldar Targets 87% Construction Waste Recycling In 2025 Sustainability Push

                                  Abu Dhabi’s Aldar Targets 87% Construction Waste Recycling In 2025 Sustainability Push

                                  Qatar Strengthens Circular Economy with Expansion of Recycling Facilities

                                  Qatar Strengthens Circular Economy with Expansion of Recycling Facilities

                                  Food Tech Market Set to Reach $224.31B by 2032, Powered by Smart Kitchens and Sustainable Innovation

                                  Food Tech Market Set to Reach $224.31B by 2032, Powered by Smart Kitchens and Sustainable Innovation

                                  Packaging Becomes Lifeline for Struggling Print Industry

                                  Packaging Becomes Lifeline for Struggling Print Industry

                                  MENA’s Coated Printing and Writing Paper Market Forecast to Grow 1.6% Annually Through 2035

                                  MENA’s Coated Printing and Writing Paper Market Forecast to Grow 1.6% Annually Through 2035

                                  Oman Recycles 2.4 Million Tonnes of Construction Waste in 2024

                                  Oman Recycles 2.4 Million Tonnes of Construction Waste in 2024

                                  Printed Packaging Labels & Release Liners Set for Strong Global Growth

                                  Printed Packaging Labels & Release Liners Set for Strong Global Growth

                                  How 3D printing is changing packaging

                                  How 3D printing is changing packaging

                                  Trending Tags

                                  • Technology
                                    • All
                                    • Business Tech
                                    • IT & Telecom
                                    GCC Drone Market to Surpass USD 2 Billion by 2033, Driven by Tech Innovation and Industry Demand

                                    GCC Drone Market to Surpass USD 2 Billion by 2033, Driven by Tech Innovation and Industry Demand

                                    Empowering Oman’s Future: Turning AI Vision into Practical Impact

                                    Empowering Oman’s Future: Turning AI Vision into Practical Impact

                                    Qatar’s Thriving Tech Sector Boosts GDP and Attracts Global Talent

                                    Qatar’s Thriving Tech Sector Boosts GDP and Attracts Global Talent

                                    Cisco VP: GCC Must Bridge AI Readiness Gap with Investment in Infrastructure, Skills, and Security

                                    Cisco VP: GCC Must Bridge AI Readiness Gap with Investment in Infrastructure, Skills, and Security

                                    How AI Is Shaping the Workforce of Tomorrow

                                    How AI Is Shaping the Workforce of Tomorrow

                                    How AI and Digital Labour Are Reshaping the Future of Work in the Middle East

                                    How AI and Digital Labour Are Reshaping the Future of Work in the Middle East

                                    Why the Middle East’s AI Strategy Needs More Than Just Large Language Models

                                    Why the Middle East’s AI Strategy Needs More Than Just Large Language Models

                                    Middle East Businesses Ramp Up AI Investments as 91% Expect Productivity Gains

                                    Middle East Businesses Ramp Up AI Investments as 91% Expect Productivity Gains

                                    Driving Middle East Growth: Accelerating AI and Cloud Adoption for Smarter Governance

                                    Driving Middle East Growth: Accelerating AI and Cloud Adoption for Smarter Governance

                                    Trending Tags

                                    • Transport & Logistics
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                                      • Infrastructure
                                      • Supply Chain
                                      • Transport & Logistics
                                      Iraq Launches New US$930 Million Railway Project to Strengthen Connectivity and Drive Economic Growth

                                      Iraq Launches New US$930 Million Railway Project to Strengthen Connectivity and Drive Economic Growth

                                      Iraq Pushes Ahead with Full Infrastructure Rollout for New Al-Sadr City

                                      Iraq Pushes Ahead with Full Infrastructure Rollout for New Al-Sadr City

                                      GCC Drone Market to Surpass USD 2 Billion by 2033, Driven by Tech Innovation and Industry Demand

                                      GCC Drone Market to Surpass USD 2 Billion by 2033, Driven by Tech Innovation and Industry Demand

                                      Saudi Arabia Unveils $7 Billion Cross-Kingdom Rail Corridor

                                      Saudi Arabia Unveils $7 Billion Cross-Kingdom Rail Corridor

                                      Riyadh Unveils Final Master Plan for Expo 2030

                                      Riyadh Unveils Final Master Plan for Expo 2030

                                      Qatar’s Infrastructure Sector Set for Robust Growth and Investment Opportunities

                                      Qatar’s Infrastructure Sector Set for Robust Growth and Investment Opportunities

                                      Saudi Arabia Unveils New Unified Road Code to Transform National Transport

                                      Saudi Arabia Unveils New Unified Road Code to Transform National Transport

                                      Oman: A Strategic Logistics Hub with World-Class Infrastructure

                                      Oman: A Strategic Logistics Hub with World-Class Infrastructure

                                      Building resilience in Africa’s agrifood supply chains

                                      Building resilience in Africa’s agrifood supply chains

                                      Trending Tags

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                                      Home Hospitality Hospitality

                                      Iran’s emerging hospitality market

                                      Tamimi

                                      April 21, 2016
                                      in Hospitality
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                                      Iran sits at the cross roads of civilizations. Once, the seat of the great Persian Empire with its rich, ancient and enchanting historical narrative, the country has always retained a lasting allure to the visitor.
                                       
                                      From the ruins of the Persian Empire in Persepolis in the Southern Fars Province, to the Mountains of Sabalan and Damavand in the north and the torquise waters of the Gulf to the South, this ancient land has never ceased to intrigue.  With a large and young population, relatively high GDP per capita, and a strategic location, Iran has strong potential to become a leading, well-educated economic and tourism market globally. The recent major lifting of the crippling sanctions imposed on Iran’s key energy and financial sectors has already shifted the attention of global business leaders to the largest closed market to open for decades. In the year and months leading up to the implementation of the agreement that has effectively ushered in the new business opportunities, Iran has seen the inflow of interest from international business looking to either re-engage, or engage for the first time, with Iran in a cross section of sectors.
                                       
                                      In the tourism and hospitality sector alone, the country will undoubtedly expect a marked growth in the inflow of tourists / travellers in a full range of segmentations – such as cultural, religious, medical, eco-tourism and adventure – business tourism alone demands a great deal of consideration in the aftermath of the removal of sanctions. Today, Iran and the capital Tehran in particular, is home to only a handful of locally branded hotels that have to some extent met the global hospitality standards. By contrast, Turkey as an immediate neighbouring country of similar size houses more than 20 internationally and 5 star branded hotels. The lack of internationally branded accommodation and quality business hotels is indeed an immediate market opportunity and a critical shortcoming in the coming years and beyond. The current predicament has not always been the case. Prior to the Iranian revolution in 1979, Tehran’s hotel market had one of the highest penetrations of international hotel operators in the region, when it was home to IHG, Hyatt, Hilton Sheraton and Starwood, all of whom operated properties in prime locations within the city. Following the revolution, the industry witnessed decades of stagnation, which was compounded by the onset of the (1980-1988) Iraq-Iran war which made owners and investors reluctant to maintain and improve properties and to invest in new hospitality projects. Of course the post-revolutionary expropriation of foreign-owned assets in the hospitality sector was a major deterrent for any new inward investment.
                                       
                                      The departure of international hotel operators had a profound impact on the management of the hotels in Tehran, which until recently, with the opening of a few locally branded hotels, tended to be old-fashioned and lacking in key techniques such as yield management. Furthermore, historically service levels in the hotels were generally poor, due in part to a shortage of suitably trained talent and a lack of quality hospitality and tourism training facilities in the country. The latter has been in part due to Iran’s over-reliance on the public sector in recent years which has effectively owned and operated the tourism properties. In fact, most of the international brands that were once present in Tehran were expropriated by the revolutionary government and were in turn owned and managed by quasi-governmental entities such as the various “foundations” without any formal internationally accepted industry knowledge.
                                       
                                      The current administration under President Rouhani is now keen to re-prioritize Iran’s Travel and Tourism sector. Under Iran’s 2025 vision, the government has planned for certain key structural improvements (through incentives) for the privatisation of the hotel and hospitality industry. Accordingly, with a sudden tourism boom that is expected, an indication of which is the almost exponential expansion of airline routes to various destinations within Iran from regional hubs like the UAE led by Emirates Airlines (four full flights per day into Tehran alone), Fly Dubai and Air Arabia, as well as internationally, hotel Average Daily Rates (ADR) – as one of the most important indicators for hotel valuation and feasibility assessments – will surely witness an organic growth to reach close to regional standards. Iran is also upgrading its own fleet of aircraft by deals with Airbus and expected deals with Boeing. As a result, hotel development projects will begin to attract a significant share of investments initially from the domestic private sector, with foreign / regional investment to follow. The government has already undertaken concrete measures in that respect with the privatisation of the formerly publicly owned properties in Tehran, such as the former Hilton and Hyatt brands under the management of the “Parsian Group”.
                                       
                                      In terms of Foreign Direct Investment, the government has provided a series of incentives through the law on foreign investment in Iran named Foreign Investment Promotion and Protection Act (FIPPA). These incentives include a 50% full term tax reduction on income, loan structure and eligibility of government funding, property ownership rights including 100% ownership in free zones, unlimited reparation of profit capital and dividends from the country and security of ownership. This presents an immediate opportunity for international hotel operators through the rebranding of existing properties in the city, particularly the four and five star hotels. The rebranding of existing properties has a number of advantages including immediate market penetration, market leader positioning and direct cash flows from an existing hotel asset. With Iran now effectively being reintegrated into the global banking system (SWIFT) after the lifting of sanctions, the concerns over the ability of hotel operators to repatriate funds out of the country, or the initial cash injection into the proposed project is largely mitigated even thought there is still some apprehension on the part of regional and international banks to fully support the industry and re-engage with Iran. The laws governing direct foreign investment into Iran aim at alleviating some of the traditional concerns respecting the security of investment, repatriation of capital and profit, a lack of a transparent legal framework and a fair operational environment. In particular, whether the foreign investor enters the Iranian market on “Build-Operate-Transfer” (BOT) model, FDI or Joint Venture schemes with an Iranian counterpart, the government, via the instruments of the law on foreign investment (FIPPA), is intent on reducing the red tape of setting up companies, easing the facilitation of procurement of various operational licenses, and a sovereign guarantee in the event of expropriation or nationalization as well as the establishment of a one stop shop for foreign investors (Organization for Investment, Economic and Technical Assistance of Iran (OIETAI) in addition to laws on Public-Private Partnerships (PPP). The Government and indeed the City Municipalities may well be prepared to enter joint ventures under which they supply land and appropriate licences/consent in return for a slice of the action.

                                      Iran is also a signatory to over 60 Bilateral Investment Treaties (BIT) all designed to encourage and protect the investment of foreigners.

                                      It is against this backdrop that the French Accor Group acting as an operator officially signed two inaugural properties in Tehran with owning firm Aria Ziggurat Tourism Development Company of Iran. The two properties, Novotel and Ibis open their doors in October of 2016 at the site of the Tehran International Airport (IKA) being the first international hotel brands to have entered the Iranian hospitality market in 36 years post the Islamic revolution. Other international brands are looking at the huge growth potential in Iran. In particular, the UAE-based hospitality firm Rotana, has also signed management agreements for four hotels in Iran, two in Tehran (opening in 2018) and two in Mashad (opening in 2017). President Rouhani’s ambitious plan to attract 20 million visitors to Iran by 2025, is being heeded by the international investors in the hospitality sector. However, the leisure travel to Iran is unlikely to lead the pack save and except for emerging tour operators who would typically package travel to the key destinations within the country. Rather it will be the regional and international corporate travel that will drive the growth in the medium term. Additionally, Iran has the potential to be the natural “halal destination”, a feature that is uniquely attractive to Muslim travellers, and should be to potential foreign investors in this sector. This is indeed a significant factor given that Thomson Reuters has valued the global halal tourism market at $140 billion in 2013 and has predicted it to rise to at least $238 billion by 2019. Perhaps it is no surprise that the UAE based Rotana Group’s upcoming Iranian properties, 4 and 5 stars alcohol free Rayhaan-branded properties will be in both Tehran and Mashad with the latter destination attracting large numbers of Muslim pilgrims and religious tourists.
                                       
                                      Despite the promises offered by the region’s last frontier market, there are still challenges facing foreign investment in Iran’s hospitality sector. While regional and international brands like Accor and Rotana, who have pioneered entry into the market, have surely benefited from a prior established and good relationship with their Iranian property owners/ counterparts, the same may not prove to be the case for others following suit. It is, therefore, imperative to have proper and sophisticated local knowledge and advice on the legal and commercial nuances of the Iranian landscape, including an ability to properly assess potential local business partners in Iran. Other challenges include the high and unpredictably volatile land prices in the country, in particular the capital, Tehran, which can prove to be prohibitive for new hospitality development projects. There are however, local entities in Iran that have large portfolios of land, both in the private sector and the public (including the Municipalities in Tehran and other major cities) who are in principle eager to enter into business partnership with the foreign investors and operators on a variety of models including a syndicated investment model that can offer the protections available under the FIPPA law. A further challenge, albeit one that will be ameliorated in time, is the scarcity of local talent with international standards of training in the hospitality sector. While Iran does have a young and highly educated population, with about 70 percent being under the age of 30, the absence of international brands in the market has not necessitated the requisite training and acquisition of skill sets, particularly in the service sector.

                                      In light of the foregoing, perhaps the best early approach for the uninitiated foreign investor entering Iran’s hospitality sector is to consider entering into management agreements for the re-branding and operation of the existing portfolio of properties in major cities including Tehran. This will allow for an immediate, soft market entry that can be the basis for future de novo direct investment in the development of new hotel / hospitality projects in Iran. In any event, the need for sophisticated local knowledge of Iran’s legal and business landscape is paramount in order to mitigate the inherent risks associated with entering a frontier market. Fortune favours the brave, but the brave should not be foolish.
                                      Tamimi
                                      21 April

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