Industry News

Hermes Sales Hit by Chinese Spending Curbs and Dubai Retail Disruptions

Hermes International reported flat constant-currency revenue in its region that includes China for the third quarter, trailing analyst expectations of 1.6% growth. The performance was weighed down by Chinese consumer spending cutbacks and regional conflict disrupting shopping destinations such as Dubai. Following the announcement, Hermes shares fell up to 9% in Paris, extending year-to-date declines to 41%.

China–UAE News

Masdar and EWEC Advance $6.1 Billion Round-the-Clock Solar and Storage Project

Masdar and Emirates Water and Electricity Company are developing a $6.1-billion continuous clean energy project in Abu Dhabi. The system integrates a 5.2 GW solar photovoltaic plant with 19 GWh of battery energy storage to supply 1 GW of baseload power. A 13-bank consortium that includes Bank of China is providing a $5.1-billion financing package.

Policy & Legal Updates

UAE Corporate Tax and Ownership Rules Reshape Business Setup Choices in Dubai

Company formation advisory firm RadiantBiz has highlighted how UAE corporate tax and foreign ownership reforms are impacting setup choices for incoming founders in Dubai. The implementation of a 9% corporate tax on profits exceeding AED 375,000 and updated mainland licensing rules require investors to align legal structures with operational revenue models.

Industry News

Dubai Office Rents Average $66 per Sq Ft as New Supply Expands

Dubai commercial office rents averaged AED 241 ($66) per square foot during the third quarter of 2026 across approximately 20,200 leasing deals, according to Savills Middle East. Small office spaces dominated demand, with units under 1,000 square feet representing 66 percent of transactions. A development pipeline of roughly 20.4 million square feet of gross leasable office area is expected between 2026 and 2030.