** Strong presence in the UAE in the sectors of real estate, tourism, and aviation.

In the latest report of the Central Bank of the UAE for the third quarter of the current year, it is stated that the real estate, tourism, and aviation sectors in the UAE continue to develop successfully despite ongoing global uncertainty. The Central Bank noted that the real estate sector in the UAE showed good performance from July to October of last year, despite global uncertainty. It also mentioned that the value of residential transactions in Abu Dhabi Emirates increased by56% on an annual basis, reaching67.8 billion dirhams in the first nine months of the current year.

According to data from the company "Raiden," the average selling prices of residential real estate in Abu Dhabi increased by 3.2% in the third quarter of this year compared to the same period last year. The report also notes an acceleration in the growth of selling prices in Abu Dhabi in October to 3.9% year-on-year, as well as a continued increase in rental rates of 0.8% and 2.6% in the third quarter and October, respectively, following a 0.5% annual increase in the second quarter of this year.

The report notes that according to data from the Dubai Land and Property Department, the volume of real estate transactions in the UAE increased by 37% year-on-year to over 500 billion dirhams in the first ten months of the current year, while the number of real estate transactions rose by 36% year-on-year to 116,000 transactions in the first three quarters. The number of new investors in the Dubai real estate market increased by 15% year-on-year in the first three quarters of 2023 compared to 2022, and the average sale prices of residential properties in Dubai grew by 0.3% year-on-year in the third quarter of the current year.

Tourism

The report also notes that the UAE has launched a national tourism strategy as part of the "Project 50," aimed at strengthening the country's position as a leading global tourist destination by 2031. The plan is to increase the contribution of the tourism sector to GDP by 450 billion dirhams, attract investments totaling 100 billion dirhams, and welcome 40 million hotel guests by 2031.

The Central Bank's report notes that Dubai remains a well-known international tourist destination, with hotel occupancy rising to 75.7%, which is 4.9 percentage points higher than the same period in 2022 and exceeds the figures from 2019 by 2.3 percentage points. The number of hotel overnight stays was also 13% higher compared to last year, totaling 30.4 million nights.

Aviation

The report also highlights a significant increase in passenger traffic at Abu Dhabi Airport, where the number of passengers in the third quarter of this year reached around 6 million, which is 29.3% more than last year, and the number of flights reached 37,900, exceeding the third quarter of 2022 by 21.8%. It is also noted that the number of flights from Abu Dhabi has increased to 119 destinations across 24 airlines, confirming the growing international presence of the UAE. Additionally, Terminal "A" at Abu Dhabi Airport has been opened, which is expected to significantly increase the airport's overall capacity.

The report also notes that Dubai airports have updated their forecasts for 2023, expecting the number of passengers to reach 86.8 million, compared to the previous forecast of 85 million. This indicates that Dubai Airport is on the right track to exceed the pre-pandemic passenger traffic, which was 86.3 million passengers in 2019. The report also states that Dubai Airport welcomed 64.5 million passengers in the first three quarters of the current year, including 22.9 million passengers in the third quarter, which is 39.3% more than last year, 1% higher than in 2019, and aligns with the peak seasonal passenger traffic in the summer.