Stories from Dubai · UAE

Airlines are facing a kerosene shortage due to the ongoing blockage in the Strait of Hormuz. Infrastructure in the region, including areas near Jabal Ali, has been targeted. The situation affects major shipping and refueling hubs.

A research group from the US-based Centri revealed that leaders of the Rapid Support Forces (RSF) accused of genocide in Sudan have purchased over 20 luxury real estate properties in Dubai. The report identifies RSF leader Mohamed Hamdan Dagalo and his close associates as the purchasers. The funds used for these acquisitions are allegedly derived from gold mines in the Darfur region. Paramilitary Rapid Support Forces (RSF) leaders are alleged to have made extensive real estate investments in various countries using wealth obtained from gold mines in the Darfur region. The report states that Dagalo and his family reportedly used income from these mines to fund these acquisitions. The RSF has been involved in a civil war since its uprising in 2023. There are also ongoing allegations that the RSF receives support from the United Arab Emirates.

The real estate index in the United Arab Emirates has fallen by 17 percent. Approximately 150,000 foreigners, primarily British nationals, have left the region. The decline is attributed to the heavy economic costs resulting from the Iran war.

Stock markets in Dubai and Abu Dhabi have experienced a $120 billion loss. This financial decline occurred over a two-month period. Additionally, 18,457 flights have been cancelled, which is noted as a impact for the aviation sector.

Approximately 100 oil tankers and 100 cargo ships have been waiting at anchor off the coast of Dubai since February 28. One observed cargo ship was reported to be empty. The situation may worsen due to ongoing regional tensions. Approximately 15 million barrels of oil are being stored in several large tankers in the Gulf. Some oil is being moved to older, decommissioned tanks in southern petroleum centers like Avaz and Asuriye. An expert, Hamit Hüseyin, stated that Iran is attempting to transport oil to China via railway. Energy expert Nihat Ismail from Al-Arabi TV stated that the situation creates a new level of problems regarding the Strait of Hormuz, Gulf oil, and the Iranian situation.

Ship-to-ship cargo transfers are being conducted at the Fuzairah port outside the Persian Gulf. This method indicates that UAE tankers have bypassed dual blockades from Iran and the United States to transit the Strait of Hormuz.

The United Arab Emirates is pursuing a strategy to invest in future economies, specifically targeting technology and artificial intelligence. This plan involves utilizing billions of dollars in investment capital.

The United Arab Emirates has accused other Arab nations of insufficient action to protect the country from Iranian attacks. The UAE is located near the Strait of Hormuz and is directly affected by the Iran-Iraq conflict.

The UN Commission for Europe announced the creation of an online observatory to facilitate goods transport in the Gulf. This move follows increased land traffic caused by a blockade in the Strait of Hormuz.

The Dubai real estate market has seen a resurgence in activity following a two-month lull. Consultants in the United Arab Emirates report that clients began returning to the market after April 8, following announcements of a truce between Iran and the United States. The current wave of transactions is being driven by buyers who had paused activity since February. Middle-market buyers are noted as being the least active in this period, according to industry reports. While some luxury segments priced at 2 million and above have seen a slowdown in activity, the mid-range market between 500,000 and 1.5 million has become more active. Sellers previously offered discounts to buyers but are now only providing symbolic gifts.