Gulf States in January 2026: the most important developments in economy
In the Gulf states in January 2026, the most reported economic news came from Dubai. On 28 January the emirate recorded its largest-ever mortgage deal, worth 11.1 billion dirhams for waterfront land, while a 4.5 billion dirham land sale was reported on Abu Dhabi's Al Reem Island. Emirates airline announced plans to hire 20,000 employees over the next five years. Ruler Mohammed bin Rashid launched expansion projects worth 12.8 billion dirhams for Dubai Silicon Oasis, and Emaar chairman Mohamed Alabbar said the tender for Dubai Creek Tower would open within three months. The UAE said its non-oil foreign trade exceeded 3.8 trillion dirhams for the first time, and Abu Dhabi gathered assets worth 263 billion dollars into a new sovereign wealth fund.
Precious metals were the second theme. Gold in Dubai reached record levels several times: 24-karat gold passed 550 dirhams per gram on 12 January and closed near 600 dirhams on 23 January, with buyers seeking flexible payment options. Prices eased briefly on profit-taking in mid-month. Buyers paid a 15% premium during a silver shortage at month end, and UAE gold jewellery demand fell 15% in 2025.
Oil prices moved with news about Iran. They reached a seven-week high on 12 January on concerns about Iranian exports, fell after the United States held off on a military strike against Iran on 15 January, and rose 3% to a five-month high on 29 January on fears of a US attack. OPEC forecast higher global oil demand in 2027, while Goldman Sachs projected lower prices in 2026.
Saudi Arabia opened its financial market to all categories of foreign investors, and its stock market rose more than 4% on 12 January. Its investment minister said total investment exceeded 400 billion dollars, and reports said some mega-projects face delays and the plans for Neom are being scaled down. India and the UAE signed a 3 billion dollar LNG supply deal, Qatar and Goldman Sachs planned a new 25 billion dollar initiative, and the Philippines and the UAE signed a trade agreement.
by WorldBrief & Maksim Micheliov | AI-generated summary
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