GCC leaders pledge unified stance on regional crises
Gulf Cooperation Council leaders Wednesday concluded their 46th Summit with a pledge to boost integration and tackle emerging challenges.
They issued the following ‘Sakhir Declaration’ at the end of the 46th GCC Summit hosted by the Kingdom of Bahrain:
“Based on the deep, historic fraternal bonds that unite the GCC states and their peoples, rooted in common faith, lineage, language and a shared destiny, and reflecting the noble objectives upon which the Council was founded in 1981, Their Majesties and Highnesses, the leaders of the Gulf Cooperation Council (GCC), convening at the 46th session of the Supreme Council in Al Sakhir, Kingdom of Bahrain, affirm their adherence to the following principles:
First: Strengthening the solid bonds and integration among the member states, in belief of the noble objectives of the GCC, in continuation of the approach of the founding leaders, and in embodiment of the aspirations of the peoples of the Council for greater stability, security, progress and prosperity.
The leaders underlined their determination to continue advancing coordination and integration among the GCC states across all political, security, economic and social fields, towards the aspired unity that serves their shared fraternal interests and contributes to establishing the foundations of security, peace and prosperity in the region and the world.
Pakistan urges expanded economic, defense cooperation with UAE
Pakistani Prime Minister Shehbaz Sharif on Tuesday called for deepening economic, trade, investment and defense cooperation with the United Arab Emirates (UAE) as the Gulf nation marks its National Day, saying both countries remain committed to shared goals of stability and prosperity.
Pakistan and the UAE maintain one of the closest bilateral relationships in the Gulf region. The UAE is Pakistan’s second-largest trading partner, a major investor in energy, ports, banking and logistics, and home to more than 1.6 million Pakistani workers, whose remittances form a critical source of foreign exchange for Islamabad.
The UAE celebrates National Day on Dec. 2 each year, marking the founding of the federation in 1971 and its emergence as one of the Middle East’s most influential economic and diplomatic actors.
Sharif, in a message issued by the Prime Minister’s Office, said the two countries were “resolute in striving for achieving the common goals of peace and stability, development and prosperity,” adding that expanding cooperation across key sectors would benefit both nations.
Free zones advance the UAE’S economic ascent, how?
Whilst free zones may not be a relatively new concept in the UAE, they continue to evolve with enhanced regulatory frameworks, digital initiatives and sector-focused incentives, making them more lucrative for investors than ever before. Such progress is positive news for the economy as free zones remain key drivers in economic growth, and further bolster the nation’s position as a competitive global business hub.
Currently, free zones are witnessing huge growth in businesses setting up in the region. Although there are almost 50 multidisciplinary free zones around the UAE, one of Dubai’s fastest-growing free zones for trading, brokerage, and service-oriented businesses is Dubai South Business Hub Free Zone (DSBH).
Riyadh drives GCC office market
Saudi Arabia is driving a surge in prime office rents across the Gulf, with Riyadh leading the region’s near-record growth as demand intensifies for high-quality, environmental, social, and governance-compliant workspace, according to a new report by Knight Frank.
The UK-based consultancy said the Kingdom’s capital continues to anchor the Gulf Cooperation Council’s office market expansion, propelled by giga-project activity and the Regional Headquarters Program.
Across the region, major hubs including Riyadh, Dubai and Abu Dhabi recorded double-digit rental growth, supported by limited prime supply and accelerating corporate demand.
Saudi Arabia leads the regional surge, with Riyadh at the forefront due to giga-project activity and the Regional Headquarters Program.
Grade-A rents in the capital rose 15.1 percent year on year in the third quarter of 2025 to SR2,750 ($732.78) per sq. meter, while grade-B rents climbed 16.5 percent.
Occupancy rates remain elevated, averaging 98 percent for grade-A and 95 percent for grade-B buildings.
GCC: opportunities and challenges in oil-rich economies
Gulf countries have showcased remarkable economic growth and development in recent decades but now face a unique paradox. They are simultaneously the global energy powerhouse and one of the most climate vulnerable regions on Earth, making their journey toward decarbonization incredibly complex. Studies by Emerald Insight have shown that Gulf states rank among the highest in global CO2 emissions per capita, with Qatar having the highest emissions in Gulf Cooperation Council (GCC) while Bahrain and Kuwait take the second and third places, respectively. During the last two decades, GCC countries have experienced steep increases in energy production due to population growth, economic growth and urbanization. As a result of this growth, CO2 emissions increased from around 540 million tons of CO2 in 2003 to 1,091 million tons of CO2 in 2020.
According to the latest figures from the Statistical Centre for the Cooperation Council for the Arab Countries of the Gulf, the GCC nations also collectively produced approximately 17 million barrels per day of crude oil in 2023, accounting for an impressive 23.2 percent of the world’s total crude oil output.