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Israeli investor glee met with Emirati caution after deal on ties

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TEL AVIV/DUBAI (Reuters) – From a proposed rail link to the Gulf from the Israeli port of Haifa, to quick-hop direct flights from Tel Aviv, the prospect of formal relations with the United Arab Emirates is stirring excitement in Israel.

In the UAE, which Israeli business executives with foreign passports have visited for years, companies that are likely candidates for above-board deal-making with Israel are taking a more cautious line, apparently awaiting government guidance on future policy.

Israel and the Gulf State announced on Thursday they would normalise relations under a U.S.-sponsored deal that still awaits negotiations on details such as opening embassies and travel links before it is officially signed.

Israeli officials have been quick to play up the economic benefits of the accord, which once formalised would also include agreements on tourism, technology, energy, healthcare and security, among other areas.

Some Israeli and Emirati businesses have already signed deals since Thursday, and several small-scale medical and defence collaborations were announced in the weeks preceding the normalisation agreement.

But Emirati state entities and private businesses have been circumspect in discussing investment opportunities before ties are official, with many declining to comment.

Conglomerate Al Habtoor Group, which has several hotels in Dubai, is in talks to partner with Israeli carrier Israir, a spokeswoman said, declining to provide further details. It was too early to discuss expanding the group’s business into Israel, she said.

Abu Dhabi state fund Mubadala declined to comment about potential business opportunities emerging from the deal, and some government departments deferred requests for comment to the foreign ministry.

‘Significant upgrade’

Israeli Finance Minister Israel Katz said official ties with the UAE “could be a basis for a very significant upgrade of Israel’s economy, alongside, of course, the things they need from us – in water technology, agriculture, hi-tech”.

On Israel’s Kan Radio, Katz highlighted the potential for grand, regional transportation projects – “a rail connection between Gulf countries and Haifa port” – that he said would make Israel the UAE’s “gateway to the Mediterranean”.

Such a rail network would have to cross Saudi Arabia, which has no relations with Israel and has so far been silent on its deal with the UAE.

An Israeli delegation is expected to travel to UAE within weeks to work out the modalities of normalisation, a historic shift that could reshape Middle East politics from the Palestinian issue to the fight against Iran.

The UAE would only be third Arab state in more than 70 years to establish relations with Israel, after Egypt and Jordan.

‘Not going to bet their shirts’

But there are sensitivities for businesses in openly welcoming Israeli investment in the Arab world’s second-largest economy when public opinion in the Middle East is largely pro-Palestinian.

Some in the UAE have called for boycotting Israel over its treatment of Palestinians in occupied territories.

Robert Mogielnicki of the Arab Gulf States Institute in Washington said UAE businesses would carefully gauge regional reactions to the deal to avoid tensions in existing relationships.

“Established UAE companies and family-owned businesses are not going to bet their shirts just to enter Israeli markets,” he said.

Israeli investors acknowledge that new trade agreements would likely take time to strike, but say Israel’s booming high-tech scene and innovations in agriculture would be tough for the UAE to pass up.

Jon Medved, CEO of Israeli crowdfunding firm OurCrowd, said “co-investment talks are ongoing (with Israelis) throughout the Arab world, not just with the UAE” – alluding to Israeli expectations that Bahrain and Oman would follow in normalising ties.

Tourism could also stand to benefit, some analysts say, though it would take time to kick off given the coronavirus pandemic’s impact on global travel.

Prime Minister Benjamin Netanyahu said on Monday Israel is preparing for direct flights, over Saudi Arabia, to the United Arab Emirates, but gave no timeframe for their start.

Saudi Arabia does not recognise Israel and its air space is closed to Israeli airliners.

Asked about flying to Israel, Dubai’s Emirates said it had nothing to announce. Abu Dhabi’s Etihad Airways had no immediate comment when contacted by Reuters.

Reporting and photo: Reuters

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Visit Maldives presents cultural, food festival to celebrate 2025

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Maldives Marketing and Public Relations Corporation (MMPRC/ Visit Maldives) has announced the ‘Maldives Culture and Food Festival’, a two-day extravaganza showcasing the Maldivian cuisine, local arts and craft, and entertainment.

The festival will take place at Central Park, Hulhumale’, on New Year’s Eve, December 31st, 2024, and continue into New Year’s Day, January 1st, 2025, offering a unique and immersive experience for locals and tourists alike.

This exciting initiative by MMPRC is a collaborative effort involving key partners such as the Ministry of Tourism (MOT), Housing Development Corporation (HDC), MyHulhumale’, Business Center Corporation (BCC), Male’ City Council, Waste Management Corporation Limited (WAMCO), the Maldives Police Service, Maldives National Defence Force (MNDF), Public Service Media (PSM), Maldives Airports Company Limited (MACL), Dhiraagu, Ooredoo, Manta Air, Maldivian, Ace Travels, and Gulf Air. It promises a dynamic programme filled with performances, activities, and food stalls. Attendees will have the opportunity to savour authentic Maldivian dishes, explore traditional arts and crafts, and witness captivating cultural performances.

On December 31st, the festivities will begin at 20:00 with doors opening to the public. A spectacular drone show will be held, depicting a tourist’s journey through the beautiful Maldives. The evening will continue with captivating cultural performances including Boduberu performances, and “Dhafi Negun”. A New Year’s Eve countdown will also take place, culminating in a dazzling fireworks display to welcome 2025.

The celebrations will continue on January 1st 2025 from 16:00 to 22:00, with the festival reopening and featuring food and arts and crafts stalls. A range of family-friendly activities will be available, including a police and fire truck showcase, a climbing wall, a bounce house, and a Transformers display. Additionally, the festival will feature energetic Boduberu performances and an exciting Roboman showcase.

“MMPRC is proud to present the first Maldives Culture and Food Festival,” said Ibrahim Shiuree, CEO and MD of MMPRC. “This event is a key initiative to celebrate the achievements of the Maldives in 2024 and to promote the diverse cultural heritage of the Maldives while providing a memorable experience for locals and visitors. We invite everyone to join us in celebrating the Maldivian spirit as we bid farewell to 2024 and welcome the new year.”

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Barcelo Nasandhura Malé to open in Q1 2025

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Barcelo Nasandhura Malé, the Maldives’ newest luxury destination, is set to open its doors in Q1 2025.

Located on the site of the former Nasandhura Palace Hotel, the property will become the largest hotel in the capital, Malé. With 136 elegantly designed rooms, including 95 with stunning ocean views, and 116 luxurious serviced apartments, Barcelo Nasandhura Malé promises a unique blend of sophistication, comfort, and convenience in the heart of this vibrant city.

Operated by the renowned Spanish hotel chain Barcelo Group, the hotel represents a significant expansion of the brand’s presence in the Maldives and beyond. Barcelo Group, known for its exceptional resorts, recently opened Barcelo Whale Lagoon Maldives in South Ari Atoll in August 2024, further solidifying its growing portfolio in the region. In addition to its Maldivian properties, Barcelo Group manages a range of high-profile hotels across the UAE, Thailand, and several European countries.

Barcelo Nasandhura Malé will feature an array of premium facilities, including four upscale dining outlets, a rooftop shisha bar, an oceanfront pool, a state-of-the-art gym, and a luxurious spa. The hotel will also boast 1,034 square meters of versatile MICE (Meetings, Incentives, Conferences, and Exhibitions) space, making it an ideal venue for corporate events and gatherings.

While some serviced apartments were initially intended for residential use, they will now be available for daily rental, offering guests enhanced flexibility and a wider range of accommodation options. Originally scheduled to open on December 1, 2024, the opening has been slightly delayed due to minor construction work. However, the team remains committed to ensuring Barcelo Nasandhura Malé is ready to welcome its first guests in Q1 2025.

Barcelo Hotel Group, awarded World’s Leading Hotel Management Company 2023 by the World Travel Awards, is the second-largest hotel chain in Spain and ranks among the 30 largest globally in terms of the number of rooms. Founded in 1931, this family-run organisation operates 280 four- and five-star city and holiday hotels, offering more than 62,000 rooms across 25 countries. The group markets its hotels under four distinct brands, each focused on providing diverse and memorable travel experiences.

Renowned for its commitment to excellence and sustainability, Barcelo Hotel Group delivers exceptional stays, seamlessly blending luxury, comfort, and environmental responsibility.

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Denise Hoefer brings world-class Padel to The Nautilus Maldives

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As part of its ‘Masters for Masters’ series, The Nautilus Maldives will host Denise Hoefer, Germany’s No. 1 padel player and one of the world’s top 50 most influential figures in the padel industry, for an exclusive Padel Masterclass from March 22 to 25, 2025. This exceptional event invites guests to enhance their padel skills under the expert guidance of a global champion, all set against the stunning backdrop of the Maldives’ Indian Ocean.

Padel, recognised as the world’s fastest-growing sport, has captured the hearts of 30 million enthusiasts globally, according to the International Padel Federation. This March, The Nautilus will provide a unique opportunity for guests to immerse themselves in this thrilling game during a four-day Padel Masterclass led by Denise Hoefer, Germany’s top-ranked female padel player and captain of the German national team. Participants will refine their techniques on The Nautilus’s state-of-the-art padel court, while experiencing the island’s signature blend of world-class coaching and timeless, unscripted hospitality.

The Padel Masterclass will feature a tailored mix of group and private sessions, catering to players of all levels. Younger participants will have the chance to join the Young Wonderers program, offering specially designed classes that introduce the sport in a fun and engaging way. After an energising day on the court, guests can unwind at Solasta Spa, where exclusive treatments by Maison Caulières—such as Spinal Connection Deep Tissue Healing, Volcanic Stone Therapy, and Warm Poultices—promise ultimate relaxation and rejuvenation. These tranquil spa experiences provide a perfect complement to the day’s dynamic activities, leaving participants refreshed and revitalised.

With just 26 ultra-luxury houses and residences, The Nautilus offers an intimate sanctuary within the Baa Atoll, a UNESCO Biosphere Reserve. Surrounded by powder-soft white sands, vibrant coral reefs, and crystal-clear waters, this private island retreat redefines bespoke hospitality. Every element is meticulously crafted to inspire, offering guests an unparalleled ultra-luxury experience focused on relaxation, renewal, and discovery. Whether honing padel skills or embracing the serenity of island life, The Nautilus stands as the ultimate destination for discerning travellers.

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