190 Countries Confirm Participation in Dubai’s Expo 2020

Aerial view of Dubai from the Deira old Dubai side in Dubai, UAE July 9, 2018. (Reuters)
Aerial view of Dubai from the Deira old Dubai side in Dubai, UAE July 9, 2018. (Reuters)
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190 Countries Confirm Participation in Dubai’s Expo 2020

Aerial view of Dubai from the Deira old Dubai side in Dubai, UAE July 9, 2018. (Reuters)
Aerial view of Dubai from the Deira old Dubai side in Dubai, UAE July 9, 2018. (Reuters)

Dubai is preparing for Expo 2020, as 190 countries confirmed their participation in this year’s expo themed ‘Connecting Minds, Creating the Future’.

The Expo has already surpassed the 180-nation commitment set out in its successful 2013 bid to host a World Expo for the first time in the Middle East, Africa and South Asia (MEASA) region.

The announcement comes on the opening day of Expo 2020’s third International Participants Meeting (IPM), which will see hundreds of delegates from around the world gather in Dubai to receive information and updates on the delivery of the biggest event to ever be held in the Arab region.

Minister of State for International Cooperation, and Director General, Dubai Expo 2020 Bureau, Reem al-Hashemy said that in less than two years’ time, Expo 2020 Dubai will welcome the international community to the UAE for a six-month celebration of human ingenuity and progress, allowing millions of people to experience the world in one place.

The Minister described the confirmation of 190 international participants as a testament to the UAE’s stature on the international stage and demonstrates the world’s confidence in the country’s ability to bring the world together.

"Expo 2020 offers an opportunity for countries from every corner of the planet to showcase their cultures, ideas and innovations to millions of visitors, and every participating nation will play an important role in the delivery of an exceptional World Expo."

This year’s IPM will cover a wide range of topics relating to the design, delivery and content of country pavilions. The agenda will include updates on site progress and details of how Expo 2020 is supporting the participant journey, as well as information sessions and panel discussions involving participating nations.

Secretary General of the Bureau International des Expositions (BIE), Vicente Loscertales, indicated that as the first World Expo in the Middle East, Africa and South Asia region, UAE and Dubai has been working to create a platform to foster creativity, innovation and partnership globally.

He added that during the IPM, Expo 2020 Dubai will showcase all the aspects of the preparation and implementation to deliver a transformative event that will have a significant impact on the host city and nation, youth and the world.

For the first time in the history of World Expos, each participating country will have its own pavilion at Expo 2020 Dubai, giving all nations the opportunity to showcase their achievements, innovations, cultures and long-term visions to the world.

Another World Expo first is the organization of country pavilions which will be based according to Expo 2020’s key sub-themes: Opportunity, Mobility and Sustainability, rather than geographically.

A number of nations will sign their official Expo 2020 participation contracts during the IPM, after confirming their chosen sub-theme and pavilion plot.

Countries that have already unveiled their pavilion plans are: Austria, Brazil, Czech Republic, Finland, Germany, Luxembourg, New Zealand, Oman, Poland, Switzerland, the UK and the UAE.

Organized in collaboration with the BIE, the IPM is held at regular intervals to update the members and other countries on Expo 2020 Dubai’s progress and plans, and to inform them of opportunities related to their participation.

Expo 2020 is expected to attract 25 million visits between October 2020 and April 2021, and 70 percent of visitors projected to come from outside the UAE.

Expo 2020 Dubai will bring the international community together for a six-month celebration of human ingenuity and progress.



Saudi Real Estate Market Maintains Investment Momentum Despite War Fallout

Residential developments in Saudi Arabia (Ministry of Municipalities and Housing)
Residential developments in Saudi Arabia (Ministry of Municipalities and Housing)
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Saudi Real Estate Market Maintains Investment Momentum Despite War Fallout

Residential developments in Saudi Arabia (Ministry of Municipalities and Housing)
Residential developments in Saudi Arabia (Ministry of Municipalities and Housing)

Saudi Arabia's real estate market continues to attract investment despite geopolitical challenges weighing on economic activity worldwide, supported by new housing developments and efforts to expand residential supply.

The Ministry of Municipalities and Housing announced that more than 15,000 residential land plots had been made available through the Sakani platform across the Kingdom between the beginning of 2026 and the end of October, alongside additional projects launched by private-sector developers.

The developments underscore the sector's continued momentum and its importance to the Saudi economy.

Government initiatives and private-sector projects aim to expand housing supply and meet growing demand, reinforcing real estate's position as a key driver of economic growth and diversification.

Strong domestic demand and ongoing urban development projects continue to underpin the market's appeal, attracting investment from both Saudi and international investors.

Against a backdrop of geopolitical uncertainty and war-related disruptions to trade, supply chains, financing costs and construction expenses, the real estate sector has gained importance as an industry driven largely by domestic demand and capable of sustaining economic activity.

Private-Sector Investment

Despite mounting global economic volatility and geopolitical tensions, Saudi Arabia's real estate market continues to attract international investment, supported by clear economic policies, expanding development opportunities and strong housing demand.

Real estate developer Arada recently announced its entry into the Saudi market through a partnership with local company XTOPIA, backed by a SAR 50 billion ($13.3 billion) portfolio of land and development opportunities.

The partnership's first project is a SAR 14 billion residential development in Riyadh's Al Rimal district.

Riyadh Region Municipality, the Ministry of Municipalities and Housing, and the National Center for Privatization & PPP also recently announced the launch of the expression of interest, prequalification and proposal submission stages for a joint land investment project.

The initiative involves developing a municipal land plot in northern Riyadh through a 50-year partnership with the private sector, marking the municipality's first project under the joint investment model.

Real estate specialists described the initiative as an important step toward enabling private investors to develop property assets into sustainable projects with significant economic value.

They said the extended investment period would encourage developers to improve construction quality and services, strengthen project feasibility, diversify real estate offerings and increase supply in one of the capital's most expensive neighborhoods.

Balancing the Real Estate Market

The importance of releasing more residential land lies in achieving greater balance in the property market, a government objective outlined by Crown Prince and Prime Minister Mohammed bin Salman.

The strategy seeks to increase housing supply by making more land available, broadening the options accessible to Saudi citizens and enabling more households to move from searching for a home to building and owning one.

Increasing the availability of residential land, particularly in cities and governorates experiencing rising demand, could ease pressure on land prices over the medium term, provided that plot locations and sizes correspond to actual market needs.

The release of additional land also creates opportunities for real estate developers, contractors, engineering firms and building materials suppliers to benefit from anticipated demand for construction projects.

As a result, businesses across the real estate and construction supply chain could see stronger activity despite the impact of the geopolitical crisis on other economic sectors in the region.

The initiative also expands housing choices, supports efforts to increase homeownership rates and improve quality of life, and encourages urban development beyond major metropolitan centers.

Lowering Prices

Real estate developer Ahmed Omar Basoudan believes the main challenge facing Saudi Arabia's property market in the coming period will not simply be increasing the number of land plots and housing units available.

Rather, he said, the priority must be ensuring that homes reach buyers at prices they can afford, while providing adequate infrastructure and services and keeping development and construction costs under control.

Speaking to Asharq Al-Awsat, Basoudan explained that genuine balance in the real estate market depends on the availability of housing that meets buyers' needs in terms of price, location and quality, rather than simply increasing overall supply.

He said the release of more than 15,000 residential land plots during the first 10 months of the year, together with recently announced private-sector projects, reflected the government's continued commitment to expanding housing supply and providing more residential options.

Basoudan stressed that the latest real estate developments represent an important step toward addressing one of the market's most pressing challenges: achieving a sustainable balance between supply and demand, particularly amid the Kingdom's population growth and continued urban expansion.


Saudi Stocks Rebound 0.9%, Recouping Previous Session's Losses

An investor monitors stock market data on a screen at the Saudi Exchange (Tadawul) in Riyadh (Reuters)
An investor monitors stock market data on a screen at the Saudi Exchange (Tadawul) in Riyadh (Reuters)
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Saudi Stocks Rebound 0.9%, Recouping Previous Session's Losses

An investor monitors stock market data on a screen at the Saudi Exchange (Tadawul) in Riyadh (Reuters)
An investor monitors stock market data on a screen at the Saudi Exchange (Tadawul) in Riyadh (Reuters)

Saudi stocks closed higher on Monday, recovering some of the losses sustained in the previous session as heavyweight shares strengthened and the banking sector advanced.

The benchmark Tadawul All Share Index (TASI) rose 0.90% to close at 10,106 points, gaining 90 points. Total trading value reached approximately SAR 3.5 billion ($933 million).

The index had fallen 0.8% on Sunday amid selling pressure on heavyweight stocks.

Anaam International Holding Group, Fitaihi Holding Group and Raoom were among the session's top gainers, rising between 7% and 9% to close at SAR 11.93, SAR 2.11 and SAR 72.30, respectively.

On the losing side, Almunajem Foods led the declines, shedding 9.20% to SAR 49.94, followed by Saudi Paper Manufacturing Co., which fell 6.18% to SAR 48.88, and Alamar Foods, which dropped 4.63% to SAR 44.06.

At the sector level, banks led the gains, advancing 1.60%, supported by a 2.06% rise in Bank AlJazira shares, which closed at SAR 10.89.


Tesla to Refund Many Cybertruck Deposits as Demand Exceeds Production, Musk Says

Tesla Cybertruck electric vehicles sit parked in a storage lot in San Diego, California on April 11, 2025. (AFP)
Tesla Cybertruck electric vehicles sit parked in a storage lot in San Diego, California on April 11, 2025. (AFP)
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Tesla to Refund Many Cybertruck Deposits as Demand Exceeds Production, Musk Says

Tesla Cybertruck electric vehicles sit parked in a storage lot in San Diego, California on April 11, 2025. (AFP)
Tesla Cybertruck electric vehicles sit parked in a storage lot in San Diego, California on April 11, 2025. (AFP)

Tesla will have to refund Cybertruck deposits for many customers as orders far exceed production capacity, CEO Elon Musk said, following last week's announcement that the electric vehicle maker is winding down the pickup truck's production at its Texas factory.

"We will try ‌to make ‌as many as ‌possible ⁠before shutting down the ⁠line in about 8 months, but will have to return deposits for a lot of people," the billionaire said in a post on X on Monday.

The comments ⁠come after Musk said ‌Tesla would ‌add an extra production shift to fulfill outstanding ‌Cybertruck orders before dismantling the production ‌line next year to expand output of its Cybercab robotaxi.

The production winddown is slated for mid-2027, Musk announced on ‌Friday, with the resources being redirected to the Cybercab, a vehicle ⁠central ⁠to the automaker's autonomous-driving ambitions.

Tesla began delivering the Cybertruck in late 2023, but demand has fallen far short of Musk's expectations. US sales fell 48% to 20,237 units last year, according to Kelley Blue Book, well below Musk's earlier projection that annual Cybertruck sales could reach 250,000 vehicles.