Dubai Food Imports Hit 8 Million Ton in 2021

People shop at a supermarket in Dubai, United Arab Emirates, March 26, 2020. - REUTERS/Christopher Pike
People shop at a supermarket in Dubai, United Arab Emirates, March 26, 2020. - REUTERS/Christopher Pike
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Dubai Food Imports Hit 8 Million Ton in 2021

People shop at a supermarket in Dubai, United Arab Emirates, March 26, 2020. - REUTERS/Christopher Pike
People shop at a supermarket in Dubai, United Arab Emirates, March 26, 2020. - REUTERS/Christopher Pike

Dubai has imported eight million tons of food during 2021 and re-exported 6.277 million shipments through all its ports, a Dubai Municipality press release revealed Thursday.

Food exports amounted to 3.272 tons to 157 countries last year after verifying their safety and compliance with food safety standards and requirements. This came after Dubai issued 78,812 food export health certificates.

Director of Food Safety Department in Dubai Municipality Sultan Al Taher said that these efforts comply with the municipality's responsibility for the continued flow of food imports to Dubai's markets and ensure the smooth flow of their passage through the ports following strict procedures, state news agency WAM reported.

"All food items must be registered within the regulatory system subject to the provisions of food control regarding local and imported foodstuff," he added.

"This ensures that the food reaches the consumer within the approved standards and specifications and helps control the follow-up of food."

According to Al Taher, all types of food are registered electronically through a global system that controls imported and locally produced foods in the emirate.



Saudi Arabia: Over 16% Growth in Mortgage Financing for Housing Support Beneficiaries in 2024

The Real Estate Development Fund’s pavilion at the Future of Real Estate Forum 2023 in Riyadh. (Real Estate Development Fund)
The Real Estate Development Fund’s pavilion at the Future of Real Estate Forum 2023 in Riyadh. (Real Estate Development Fund)
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Saudi Arabia: Over 16% Growth in Mortgage Financing for Housing Support Beneficiaries in 2024

The Real Estate Development Fund’s pavilion at the Future of Real Estate Forum 2023 in Riyadh. (Real Estate Development Fund)
The Real Estate Development Fund’s pavilion at the Future of Real Estate Forum 2023 in Riyadh. (Real Estate Development Fund)

The Saudi Real Estate Development Fund (REDF) announced on Monday a 16.4% increase in mortgage financing for beneficiaries of housing support programs in 2024, with total financing reaching SAR 62.9 billion ($16.7 billion). This marks a significant rise compared to SAR 54 billion ($14.4 billion) in 2023.

According to the Saudi Press Agency (SPA), December 2024 saw a notable 44% increase in the value of mortgage financing, reaching SAR 9.4 billion ($2.5 billion), compared to SAR 6.5 billion ($1.73 billion) in December 2023. This represents a growth of SAR 2.85 billion ($760 million). Additionally, the number of financing contracts surged by 52% during the same period.

Mansour bin Madi, CEO of the REDF, stated that the total financing in 2024 supported 89,000 financing contracts, compared to 74,000 in 2023—an increase of 15,000 contracts, or 20%.

Bin Madi highlighted that the REDF, in collaboration with the housing ecosystem and strategic partnerships with financing entities and real estate development sectors, is working to enhance homeownership opportunities by offering suitable housing products in the real estate market.

The self-construction product accounted for 14% of the total mortgage financing for beneficiaries of housing support programs. Meanwhile, under-construction housing units comprised 29%, and ready-to-move-in housing units made up 57%.

Bin Madi noted that December 2024 recorded the highest volume of mortgage financing for the year, with SAR 9.38 billion ($2.5 billion), financing approximately 12,340 contracts.

He reaffirmed the REDF’s commitment to strengthening its role in the mortgage financing market by providing diverse housing and financing solutions.

These efforts aim to meet beneficiaries’ preferences, facilitate easier homeownership for “Sakani” program beneficiaries, and align with Saudi Arabia’s Housing Program, he underlined. The program seeks to raise the homeownership rate among citizens to 70% by 2030.