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It’s a busy morning for UAE in the foreign press, with headlines on the growing interest in fractional ownership and REITs in Dubai and the murder investigation of Israeli-Moldovan rabbi Zvi Kogan.
#1- Dubai real estate boom sparks interest in fractional ownership and REITs: Bloomberg reports on the growing trend in Dubai’s real estate market, where high prices are prompting investors to turn to fractional property ownership and real estate investment trusts (REITs). Tech-driven property management platforms like Keyper are expanding in Dubai, and major entities, including Dubai Holding, are considering REIT listings to offer more options for real estate investments.
#2- The UAE arrested three suspects for the murder of Israeli-Moldovan rabbi Zvi Kogan, after his body was found in Dubai yesterday and following an investigation into his disappearance. Investigations are still underway, the ministry said, adding that full details will be disclosed once they are completed. Israel recommended that residents avoid non-essential travel to the UAE in the time being, while Israeli Prime Minister Benjamin Netanyahu said he appreciates the UAE’s cooperation with the investigation. (AP | Reuters | Bloomberg | New York Times)
#3- Kenya plans to access its USD 1.5 bn loan from Abu Dhabi in tranches to stay within the IMF’s borrowing limits, Bloomberg reports, citing sources it says are familiar with the matter. The African country is expected to receive USD 700 mn at the start of 2025, with the remaining funds to be distributed later. The IMF has set a cap on Kenya’s commercial borrowing for the current fiscal year at USD 1.3 bn.
#4- ALSO GETTING ATTENTION- Emirates shelved its plan to create a strategic center overseeing administrative operations after months of development. The project failed to gain sufficient internal backing from senior management, Bloomberg reports, citing unnamed sources.
