On May 18, the Emirates Engineering aircraft maintenance hangar project, undertaken by China Railway Construction Corporation (CRCC), officially broke ground in Dubai.
Located in the Dubai World Central area, the project has a total investment of more than USD 5 billion and is scheduled for completion in 2030. It includes the construction of large maintenance hangars, paint hangars, and supporting facilities. Once completed, it will provide wide-body aircraft with full-process services, including maintenance, repair, and overhaul, engine maintenance, and painting.
CRCC said the project is an important example of Belt and Road cooperation between China and the Middle East. It will support the entry of Chinese construction into the Middle East’s high-end infrastructure market and help deepen China-Arab industrial capacity cooperation.
On May 19, Elite Group Holding, Jetour’s exclusive partner in the UAE, unveiled what it said is the world’s largest Jetour service center, further strengthening its aftersales network and customer service capabilities in the country.
The flagship center spans 100,000 square feet and can service 250–300 vehicles per day. It integrates repair, maintenance, and customer reception services. Jetour said the new facility will strengthen customer trust, service transparency, and long-term value. Jetour’s service network in the UAE now covers Dubai, Abu Dhabi, Al Ain, and Ajman.
Dubai has announced a second round of economic stimulus measures totaling AED 1.5 billion (USD 408.4 million) to support businesses affected by conflict, AGBI reported.
The new plan will be implemented in phases over the next 3–12 months. Support will cover sectors including tourism, trade and logistics, real estate, construction, education, and culture. Measures will focus on fee waivers, deferred payments, rent concessions, deferred fines, and license extensions to ease pressure on businesses.
The Dubai government said the new measures will help identify the challenges facing companies, especially small and medium-sized enterprises and emerging businesses, and enable more targeted support programs.
Abu Dhabi Global Market (ADGM) registered 961 new companies in the first quarter of 2026, bringing its total number of active licenses to more than 13,300, according to AGBI.
ADGM’s assets under management rose 57% year-on-year, while the number of asset and fund managers increased to 179 and the total number of managed funds reached 263. ADGM chairman Ahmed Jasim Al Zaabi said the first-quarter performance reflected continued strong investor confidence in Abu Dhabi.
The UAE property market is shifting from the rapid expansion seen in 2025 toward a more sustainable growth phase, supported by fundamentals and infrastructure investment, according to a first-quarter 2026 report on the UAE real estate market by Colliers, cited by Zawya.
Residential, office, and investment markets in Abu Dhabi and Dubai remained broadly active, with demand for high-quality assets and prime areas still strong.
The report said that while market growth is becoming more measured, investor and tenant demand remains stable, and the UAE real estate market continues to show resilience and long-term growth potential.
Dubai Holding and Microsoft have formed a partnership to integrate artificial intelligence into the group’s operations in what Emirates News Agency described as the first enterprise-level AI deployment of its kind in the Middle East and Africa.
Through a unified platform, AI agents, process automation, and decision-support tools, the two sides aim to improve the group’s operational efficiency and management consistency. The partnership will also include employee training, use-case development, and enablement programs to support the adoption of AI in daily work.
Visa has launched its global “Agentic Ready” initiative in the UAE to help financial institutions prepare for business models driven by AI agents, Emirates News Agency reported.
Under this model, AI agents can help consumers discover, select, and purchase goods, while Visa ensures trust, security, and control throughout the transaction process. Abu Dhabi Commercial Bank, Emirates NBD, Mashreq, Wio Bank, Tabby, and several other institutions have joined the program.
Saudi Aramco has activated Saudi Arabia’s first quantum computer at its Dhahran data center, according to AGBI.
Developed in partnership with French quantum computing company Pasqal, the system is intended to improve low-carbon fuel R&D, reservoir management, and supply chain operations. The two companies have already worked together on quantum computing applications in port logistics, carbon dioxide storage, well placement, and rig scheduling, and have jointly established the Middle East’s first commercial Quantum Computing as a Service platform.
Moody’s has affirmed Saudi Arabia’s sovereign credit rating at “Aa3” with a stable outlook, according to Saudi Gazette.
The agency cited the country’s economic resilience, abundant oil and gas resources, and continued progress on Saudi Vision 2030 reforms to provide strong support for its credit profile.
Moody’s said Saudi Arabia has competitive advantages in global energy markets, while its government governance capacity and policy execution efficiency continue to improve. The non-oil economy is also strengthening, supported by government investment and structural reforms.
Saudi Arabia’s operating revenue index rose 10.2% year-on-year in March, supported by continued expansion in the non-oil economy, Arab News reported.
Growth was mainly driven by transportation and storage, mining and quarrying, information and communication, and financial and insurance activities, with transportation and storage delivering the strongest performance.
The overall data showed that Saudi Arabia continues to make progress in attracting investment, expanding non-oil growth, and reducing reliance on oil and gas.
Saudi Arabian AI organization Humain has partnered with Accenture to accelerate the large-scale deployment of AI across government and industry.
The collaboration will focus on government services, enterprise operations, and critical infrastructure. Through data system upgrades, cybersecurity enhancements, employee training, and process redesign, it aims to move AI from pilot applications into operations.
Saudi Arabia views AI as national strategic infrastructure and is advancing economic diversification through sovereign investment, digital infrastructure development, and international technology partnerships.
The Qatar Central Bank (QCB) has launched a working capital stability financing guarantee program aimed at supporting the national economy, stabilizing the private sector, and improving the business environment, according to The Peninsula.
QCB has instructed all banks in Qatar to work with Qatar Development Bank to provide support to designated sectors under the relevant mechanism.
QCB said the move will strengthen the private sector’s resilience in responding to regional and global challenges, promote business stability and growth, and further reinforce market confidence in Qatar’s economy and business environment.
Qatar’s contract award activity rose sharply in the first quarter of 2026, mainly driven by energy infrastructure investment, The Peninsula reported.
Data showed that the total value of contracts awarded in Qatar rose 62.1% year-on-year in the first quarter to USD 8.8 billion. Natural gas projects made the largest contribution, with contract value rising to USD 8.2 billion and accounting for more than 90% of the national total.
The report said a stable economic outlook and high public spending will continue to create opportunities for contractors, suppliers, and investors.
Qatar Chamber and the Qatar Financial Centre (QFC) have signed a memorandum of understanding to strengthen cooperation, support the private sector’s participation in Qatar’s sustainable development, and attract foreign investment and technology, according to The Peninsula.
The two sides will jointly organize events and seminars and coordinate efforts to promote foreign direct investment. Companies on the QFC platform will also be able to use Qatar Chamber services, including the issuance of certificates of origin and document attestation.
Ooredoo has launched IoT SecureConnect, Qatar’s first operator-led zero-trust security solution designed specifically for internet-of-things (IoT) devices, Gulf Times reported.
Based on zero-trust principles, IoT SecureConnect continuously verifies every connected device, improving secure connectivity, data privacy, and operational resilience at scale. The solution is compatible with existing IoT infrastructure and supports local and international regulatory requirements.
Ooredoo said the new solution will help enterprises manage connected ecosystems more securely and advance digital innovation while maintaining high standards of security and trust.
This article was adapted based on a feature originally written and published by Al Shasia. KrASIA is authorized to translate, adapt, and publish its contents.
Note: AED figures are converted to USD at rates of AED 3.67 = USD 1 based on estimates as of May 28, 2026, unless otherwise stated. USD conversions are presented for ease of reference and may not fully match prevailing exchange rates.
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