Saudi minister seeks US expertise to boost Kingdom’s municipal, housing sectors

RIYADH: Abu Dhabi recorded strong real estate activity in the first quarter of 2025, with continued price growth and investor demand following 28,249 transactions worth 96.2 billion dirhams ($26.2 billion) in 2024. 

A new market report by Bayut noted that the momentum from 2024 — marked by a 24.2 percent year-on-year increase in transactions — was driven by capital appreciation, competitive yields, and the emirate’s rising profile as a high-return investment destination. 

Abu Dhabi’s performance mirrors the broader UAE real estate market, which has shown resilience amid global headwinds, supported by population growth, regulatory reforms, and sustained foreign investor interest. 

Haider Ali Khan, CEO of Bayut, said: “Abu Dhabi’s real estate sector in 2025 continues to build on last year’s strong momentum, remaining an attractive destination for global investors.” 

He added: “The influx of capital from sovereign wealth funds and the growing entrepreneurial landscape are driving renewed interest in the emirate.” 

Khan, who is also the head of Dubizzle Group MENA and a board member of the Dubai Chamber of Digital Economy, said that with over 30 new projects launched, 7.8 billion dirhams in foreign investment recorded in 2024, and an increased focus on transactions, “Abu Dhabi is establishing itself as a smart, future-ready hub for property investment.” 

Affordable areas such as Al Reef, Al Ghadeer, Khalifa City, and Al Shamkha remained popular with cost-conscious buyers, while mid-market hubs like Al Reem Island and Masdar City offered value with amenities, the report noted. 

High-net-worth buyers focused on Saadiyat Island, Yas Island, and Al Raha Beach. Luxury prices climbed between 2 and 7 percent in the first quarter, with Yas Island leading gains at 6.57 percent. Al Samha posted the highest increase in mid-tier apartment prices at 7.2 percent while affordable segment prices rose up to 2 percent. 

Rental yields remained attractive, with Al Ghadeer and Al Reef leading the affordable segment at 9.95 percent and 8.38 percent respectively, while Al Reem Island and Masdar City posted yields between 5.57 and 7.6 percent, the report noted. 

Off-plan developments also saw strong demand, with Bloom Living and Al Reeman 1 attracting budget-conscious buyers, while Saadiyat Cultural District and Yas Beach Residences remained popular among luxury investors. 

KARACHI: The State Bank of Pakistan is finalizing a green taxonomy framework set for launch in June, the finance minister said this week, paving the way for innovative instruments such as green bonds, green sukuks, and the country’s inaugural panda bond.

In May 2021, Pakistan issued its first $500 million green bond to fund a hydroelectric project. Last month, the country launched its first-ever rupee-denominated green bond as part of efforts to mobilize private sector capital for environmentally sustainable development.

Pakistan’s Nationally Determined Contributions 2021 (NDCs) set a cumulative and ambitious conditional target of an overall 50 percent reduction in its projected emissions by 2030, with 15 percent from the country’s own resources, and 35 percent subject to provision of international finance amounting to $101 billion just for energy transition. To reach the target, Pakistan aims to shift to 60 percent renewable energy (RE), and 30 percent EVs by 2030 and completely ban imported coal, while expanding nature-based solutions. A green finance scheme in the country can significantly support the achievement of these targets.

“Now the State Bank is in the process of finalizing the green taxonomy guidelines,” Finance Minister Muhammad Aurangzeb said during a talk at The Atlantic Council. “In the June timeframe, they will come out with the green taxonomy framework.”

Recalling Pakistan’s first green bond by the Water and Power Development Authority in 2021, he said a second step under the green taxonomy framework would be launch green sukuk, a Shariah-compliant Islamic bond where the proceeds are used to finance or refinance green projects that contribute to environmental sustainability, such as renewable energy, infrastructure development, and biodiversity preservation.

“The second is some of the green sukuks that we have issued locally now through the ministry of finance and the State Bank,” he said. “

“And the last thing I just want to mention here is we are quite hopeful that during this calendar year, we can print the first, inaugural panda bond that is going to also be green in nature, because the proceeds of those bonds are going to be linked with the SDG [UN’s Sustainable Development Goals] projects. So a lot is happening in that space.”

A panda bond is a Chinese Yuan (RMB)-denominated bond issued by a non-Chinese entity within China’s domestic bond market. This type of bond allows foreign entities, including governments and corporations, to access Chinese capital markets and tap into the liquidity of the Chinese financial system. Essentially, it is a way for non-Chinese issuers to raise funds in China without having to go through the standard international bond issuance process. 

Pakistan is highly vulnerable to climate change, experiencing significant impacts like rising temperatures, changing precipitation patterns, and increased extreme weather events. These changes threaten water, food, and energy security, impacting agriculture, coastal areas, and ecosystems, according to a report from the Ministry of Climate Change and Environmental Coordination. The country is also grappling with sea-level rise, glacial melting, and increased droughts.