DUBAI: Consumer prices in Abu Dhabi rose during the first half of the year as higher costs of housing and utilities particularly in the city pushed the inflation index higher.
Inflation rate reached 2.1 in the first six months, the Statistics Center — Abu Dhabi (SCAD) said in its latest report, while prices in June alone were 1.8 percent higher compared with the same month of last year and 0.8 percent up from a month ago.
Housing, water, electricity, gas and other fuels’ group accounted for the largest rise in the index during the first half of 2017, which contributed 51.3 percent to the overall increase in the consumer price index (CPI), as prices for this group went up 3.2 percent year-on-year during the period.
The inflation rate for the transport segment meanwhile rose 5.4 percent as of June, and contributed 34.2 percent to the overall increase in the index.
Location wise, SCAD noted that the Abu Dhabi region contributed 54.8 percent to the rise of the consumer index during the first half, while the Al-Ain region contributed 39 percent and the Al-Dhafra region accounted for a 6.2 percent increase.
The agency also said in its report that the prices of products bought by lower-income households rose 2.4 percent in the first half, while those of middle-income households increased 2.5 percent. The prices of consumer items purchased by upper-income individuals meanwhile went up 1.9 percent as of June.
Looking forward, SCAD expects consumer prices to rise 1.9 percent during the third quarter and 1.2 percent in the fourth quarter, both from the respective periods of last year.
Abu Dhabi inflation up 2.1% in first six months
Abu Dhabi inflation up 2.1% in first six months
Real Estate Registry signs 10 agreements at forum in Riyadh
RIYADH: The Real Estate Registry concluded its participation in the Real Estate Future 2026, as a partner of the forum, with a distinguished presence that included the launch of its business portal, the signing of 10 agreements and memoranda of understanding with entities from the public and private sectors, the organization of specialized workshops, and the awarding of the Gold Award at the Real Estate Excellence Awards.
During his participation in the forum, the CEO of the firm, Mohammed Al-Sulaiman, reviewed the latest developments in real estate registration in the Kingdom in a keynote speech, highlighting the pivotal role of the Real Estate Registry in building a unified and reliable system for data. He also announced the launch of the national blockchain infrastructure, which aims to enable the microcoding of real estate assets, enhance transparency, expand investment opportunities, and support innovative ownership models within a reliable regulatory framework.
On the sidelines of the forum, Al-Sulaiman met with Nigeria’s Minister of Housing and Urban Development, Ahmed Dangiwa. During the meeting, they discussed areas of joint cooperation, exchanged experiences and advice on shaping the future of the real estate sector, and reviewed best practices in implementing real estate registration systems that enhance reliability and improve the efficiency of property registration.
efficiency of property registration systems.
The Real Estate Registry’s participation included organizing three specialized workshops that focused on the role of geospatial technologies in identifying ownership, enhancing transparency, and improving the quality of real estate data.
The workshop “Empowering the Real Estate Registry for the Business Sector” reviewed digital solutions that enable the business sector to manage its real estate assets more efficiently and enhance governance and technical integration. The workshop “From Off-Plan Sales to Title Deed” focused on the journey of documenting real estate ownership and the role of the registry in linking the stages of development and documentation within an integrated digital system.
On the sidelines of the forum, the Real Estate Registry signed 10 agreements and memorandums of understanding, including a deal with Yasmina Information Technology Co. to utilize real estate data in developing smarter insurance solutions that support the real estate sector and enhance service reliability.
Partnerships were also signed with Haseel, NewTech, and Sahl, as well as HissaTech and Droub, to develop innovative digital solutions in property ownership, fractional ownership, and asset tokenization, as well as real estate finance and investment within a trusted regulatory framework.
Further collaborations included an MoU with ROSHN Group, an agreement with the Saudi Water Authority to enable data integration and quality enhancement, an agreement with the Saudi National Bank, and a partnership with Saudi Post to link the national address with the property registry as a unified geospatial identifier supporting data accuracy and integration.
The registry’s participation was crowned with the Golden Award at the Real Estate Excellence Awards in the category of Excellence in Property Documentation, in recognition of its role in building a model based on transparency, accuracy, and speed, as well as advanced digital technologies and specialized legal expertise, contributing to rights protection and increasing the sector’s attractiveness.
The Real Estate Registry emphasized that its participation reflects its continued role as a key enabler of the real estate sector, a trusted data source, and an active partner in driving digital transformation, enhancing market efficiency, and building investor and financier confidence, in line with Saudi Arabia’s Vision 2030 objectives for a fully integrated and sustainable digital real estate ecosystem.
