What Is ECOWAS? ECOWAS is a regional political and economic union formed in 1975 to promote cooperation among West African countries. Its initial mission was to create a unified economic space by reducing trade barriers and fostering cross-border commerce. Over time, the organization expanded its scope to include political stability, peacekeeping, and security cooperation. It now plays a broader role in conflict mediation, election monitoring, and facilitating the free movement of people and goods. Headquartered in Abuja, Nigeria, ECOWAS traditionally included 15 member states, though recent political developments have reduced active membership. Integration Goals — Economic Cooperation and Security ECOWAS aims to strengthen regional economies through shared markets, infrastructure, and long-term strategies such as the introduction of a common currency, the ECO. Alongside economic cooperation, ECOWAS has become a significant actor in regional security. It has intervened during periods of political instability, offering mediation and enforcing sanctions when necessary to uphold democratic principles. Challenges — Political Upheaval and Regional Realignment In recent years, West Africa has experienced multiple coups and political crises. As a result, Mali, Niger, and Burkina Faso withdrew from ECOWAS and established a new alliance, the "Sahel Coalition," signaling a major realignment in the region. Their departure highlights tensions between ECOWAS’s governance principles and the political realities within certain member states. This shift has challenged the bloc’s ability to maintain cohesion and ensure regional stability. At the same time, ECOWAS faces broader issues such as extremist violence, climate impacts, and economic disparities — factors that complicate its mission and test its resilience. Nigeria’s Strategic Role Nigeria, the region’s most populous and economically powerful nation, plays a crucial leadership role within ECOWAS. It supports peacekeeping operations, influences economic initiatives, and often acts as a mediator. However, Nigeria’s own internal challenges mean that its stability — or instability — can significantly affect the entire West African region. The Future of ECOWAS — Between Cooperation and Reality ECOWAS represents one of Africa’s most ambitious regional integration projects. Yet its future depends on balancing collective goals with the diverse political landscapes of its members. To remain effective, ECOWAS will need to reinforce both economic integration and political stability, ensuring that cooperation continues despite mounting regional challenges.

The Origins and Purpose Behind Banking Secrecy Swiss banking secrecy has long been associated with wealthy clients seeking privacy through numbered accounts and confidential asset management. Yet the original purpose of Swiss banking secrecy extended beyond mere personal privacy. It was designed to safeguard Switzerland’s financial system, reinforce political neutrality, and maintain national and international trust in its legal and economic stability. In essence, secrecy served as a structural pillar that protected not only individuals but also the integrity of the Swiss financial order. Global Pressure and the Transformation of Secrecy From the early 2000s onward, international efforts to combat tax evasion and money laundering triggered major changes in Switzerland’s banking environment. New global reporting standards and enhanced cooperation among tax authorities made it difficult for Swiss banks to maintain unconditional anonymity for foreign clients. Reforms in the 2010s further required banks to share specific information with foreign tax agencies under defined conditions. As a result, Switzerland’s reputation as an unquestioned safe haven for hidden wealth was reshaped dramatically. What Still Remains — Confidentiality and Stability Despite these shifts, banking secrecy has not disappeared. Unauthorized disclosure of client information remains a criminal offense, and lawful clients continue to benefit from strong privacy protections. For individuals in politically unstable regions or those exposed to currency volatility, Switzerland remains a highly attractive location for secure, rules-based wealth preservation. The country’s reputation for regulatory integrity and financial professionalism continues to offer a sense of stability few jurisdictions can match. What Investors Should Understand Today Modern Swiss banking should be evaluated with realistic expectations: Absolute anonymity no longer exists International reporting standards are now the norm Secrecy remains, but within a legal and transparent framework Today, the focus has shifted from “hiding wealth” to protecting and managing wealth within a stable and reputable legal environment. Rethinking “Safe Havens” in the Modern Financial World While the era of unconditional secrecy has ended, Switzerland remains a credible and secure financial center. Rather than relying on outdated myths, investors should understand current regulations and use Switzerland’s strengths — legal stability, transparency, and institutional trust — to build resilient wealth strategies for the future.

Introduction Over the past few years, Dubai real estate has been so hot that deals can close with “a single phone call.” When short-term flippers with low investment literacy crowd into the market, prices tend to surge fast—and fall just as fast—creating a classic bubble → panic-selling cycle. Reference post on X (Twitter): Account: https://x.com/MasaNozaki2 Thread: https://twitter.com/MasaNozaki2/status/1961312652178702745 This article clarifies common misconceptions, explains the market mechanics, and lays out principles you can actually operate by. Assuming a purchase price of JPY 24,000,000 and annual rent of JPY 1,800,000: Gross yield = 7.5%. That is not the net yield. Like Japan, Dubai properties incur maintenance and other running costs, so the net yield will be lower. https://twitter.com/MasaNozaki2 — Masa Nozaki (@MasaNozaki2), Aug 29, 2025 The Risky Pitch We Keep Hearing “Because leases auto-renew, cash flow is predictable.” It sounds neat, but auto-renewal alone doesn’t guarantee CF stability. Rent revisions, vacancies, service charges, capex, and rule changes can all shift your numbers. We also see frequent confusion between: Gross yield (rent ÷ purchase price), and Net yield (after all costs and realistic vacancy). Rule of thumb: the simpler the pitch, the more cautious you should be. Change one assumption and your cash flow can break. “One Phone Call for a $1M+ Deal”: Why It’s Scary—and Also an Opportunity In a heated market, high-ticket deals can close with shallow due diligence. That’s scary, but it also creates opportunity when the cycle turns: Risk: In a downturn, short-term flippers rush for the exit, flooding supply. Opportunity: Forced selling often produces fundamentally undervalued prices. How Bubbles Turn into Panic Selling Early climb: Simple narratives (off-plan flips, pre-completion gains) attract capital. Overheat: Social proof, success stories, easy money pull in short-term flows. Trigger: Supply surge, rules/taxes, rates/FX moves, geopolitics. Unwind: Crowded exit → inventory piles up → price resets → leveraged sellers dump. Split: Prime, high-quality, rental-driven stock holds up; peripheral inventory sinks. 2027–2028: Watch the Supply Bulge A high-supply pipeline in 2027–2028 is widely discussed. When supply lands, flippers’ exits narrow—an easy spark for panic selling. This is a projection, and actual impact will depend on rates, FX, demand, and policy—i.e., a mix of factors. Principles That Actually Protect You (Checklist) Judge by earnings reality, not short-term momentum. 1) Evaluate yield on a net basis Include service charges, maintenance/capex, taxes/fees, furniture, realistic vacancy, leasing costs, PM/agency fees, and platform fees (for STR). 2) Verify the quality of rental demand Commuting nodes, schools, transit, retail. Tenant tenure & profile (tourist-only demand is volatile). Renewal clauses, break options, rent-review practice. 3) Test substitutability If a flood of similar alternatives exists at the same price point, downside pressure is high—even in good locations if new supply walls are near. 4) Know your exit mechanics Process and fees for foreign sellers, expected timing, buyer segments. Track recent closed comps and list-to-close gaps. 5) Keep leverage disciplined Model rate/FX stress (interest coverage, LTV, DSCR). Understand loan covenants and your Plan B under stress. Conclusion: Win with Design, Not Hype Auto-renewal ≠ predictable cash flow. Always value on net yield. Build for multi-factor risk (supply, rates, FX, policy). When the cycle turns, panic supply from flippers is likely—be ready to buy calmly and selectively. Keep the decision tree simple: Who rents? At what yield? For how long? Can I hold through a downturn? If you can answer those with numbers, you’re playing the right game.

Aldar Expands into Egypt If you’ve ever looked into real estate investment in Abu Dhabi, you’ve likely come across Aldar, one of the most prominent names in the region. Established in 2004 by the Abu Dhabi government and listed on the Abu Dhabi Securities Exchange since 2005, Aldar is widely regarded as the leading government-backed developer in the emirate. In December 2021, Aldar acquired approximately 85.5% of Egypt’s major real estate developer SODIC, marking a strategic expansion into the largest market in North Africa. Gulf Developers Strengthen Presence in Egypt Aldar is not alone in targeting Egypt. Emaar, the largest developer from Dubai, is already active in the Egyptian market, pushing forward major residential and commercial developments in Cairo and the New Administrative Capital. This wave of investment by Gulf-based companies highlights the growing strategic interest in Egypt as a real estate and economic hub. Why Egypt? The Largest Market in the MENA Region Egypt boasts a population of over 100 million, making it the most populous country in the MENA (Middle East and North Africa) region. The MENA market is united by shared language (Arabic) and culture (Islam), and is expected to grow into a region of 550 to 800 million people. Within this, Egypt stands out for: A young and growing labor force Aggressive infrastructure and urban development led by the government Major projects like the New Administrative Capital Surge in Foreign Investment Beyond developers, governments and financial institutions from the Gulf are also eyeing Egypt. This month, the Deputy Ruler of Sharjah paid an official visit to Egypt’s New Capital, signaling a broader UAE interest in Egyptian development. Such high-level engagements suggest that Egypt will continue to attract significant foreign capital in the coming years. Conclusion: Egypt’s Real Estate Market Gains Strategic Attention With a massive population, ambitious infrastructure projects, and increasing foreign interest, Egypt’s real estate sector is fast becoming a focal point for MENA investors. For investors seeking long-term growth opportunities in emerging markets, understanding Egypt’s strategic importance is now essential.

Introduction Just like in Japan, where certain developers have built strong reputations, Dubai and Abu Dhabi also have well-known real estate companies trusted by consumers. In this article, we’ll introduce five of the most popular real estate developers in Dubai and explore key trends such as the risks of off-plan investments and the growing value of second-hand office properties. Top 5 Popular Real Estate Developers in Dubai 1.  Emaar Properties Website: https://www.emaar.com/ Founded: 1997 Notable Projects: Burj Khalifa, Dubai Mall, Dubai Marina Highlights: Known for luxury properties and large-scale communities with a strong reputation for quality and design. 2.  DAMAC Properties Website: https://www.damacproperties.com/en/ Founded: 2002 Notable Projects: DAMAC Hills, Akoya Oxygen, DAMAC Lagoons Highlights: Specializes in luxury housing with lavish design and brand collaborations. 3.  Nakheel Website: https://www.nakheel.com/ Notable Projects: Palm Jumeirah, The World Islands, Jumeirah Village Circle Highlights: Known for iconic waterfront developments that shape Dubai’s skyline. 4.  Sobha Realty Website: https://sobharealty.com/ Highlights: A high-end developer originating from India, offering quality-controlled, in-house built homes with a focus on sustainability. 5.  Azizi Developments Website: https://www.azizidevelopments.com/ Founded: 2007 Notable Projects: Azizi Riviera, Creek Views, Mina on Palm Jumeirah Highlights: Offers a wide range of properties from affordable to luxury, popular among investors and residents. Think Twice Before Buying Off-Plan In the past, buying off-plan properties (pre-construction) could result in doubling property values upon completion. However, with current high prices and an oversupply in the market, such gains are rare. Despite this, many agents heavily promote off-plan investments—largely due to higher sales commissions. Be wary of overly optimistic pitches lacking clear risk disclosures. A cautious and informed approach is key. Why Second-hand Office Properties are Gaining Attention There is a significant shortage of office space in Dubai, especially for SMEs. Some business licenses require a physical office, and such properties are becoming increasingly competitive. In contrast to residential units—which are relatively easy to find—securing a good office space can be quite difficult. This market dynamic makes rental office properties a potentially stable and profitable investment in Dubai.

Introduction In Dubai’s real estate market, an increasing number of agents have begun promoting properties with promises like: “Once completed, this unit can be rented out on Airbnb for high returns!” But is it really that profitable? This article takes an objective look at the 2025 Airbnb market in Dubai, based on the latest data, to explore: Is Airbnb truly a high-return option? What do occupancy rates and revenues actually look like? What types of units are performing best? Dubai’s Airbnb Market: Key Figures 📊 According to February 2025 data from AirROI: Average Annual Revenue: USD 24,830 Average Occupancy Rate: 44% Average Nightly Rate: USD 233 Due to seasonal fluctuations in Dubai’s short-term rental market, further analysis by season shows: Peak Season (Dec–Jan): Monthly revenue: USD 6,227 Occupancy rate: 58.6% Nightly rate: USD 376.85 Low Season (Jul–Sep): Monthly revenue: USD 2,322 Occupancy rate: 34.35% Nightly rate: USD 232.77 What Kind of Properties Are on Airbnb? 1-bedroom units make up 56.7% of listings Combined with 2-bedroom units, this rises to 81.4% Most listings range from 70m² to 180m² in size Source: AirROI Conclusion The data clearly shows a few key takeaways: ✅ Small units dominate the market—especially 1 and 2-bedroom apartments ✅ Family-sized units (3BR+) are scarce, suggesting potential opportunity ✅ Agents claim high profits, but the reality may differ Given average prices of USD 240,000–410,000 for such units, and average gross revenue of USD 24,830/year, the gross yield is around 9%. However, considering: Airbnb management fees (typically 30%) Building management fees Utilities and maintenance The net yield likely falls to around 4–5%. This analysis is based on current data and trends, which may evolve. Still, the notion that “Airbnb guarantees high profits” seems overstated based on actual market numbers.

Introduction This article provides up-to-date insights into the real estate loan environment in Dubai, one of the world’s most dynamic property markets. With a focus on both collateral-backed loans and income-based mortgage options, we aim to help international investors make informed decisions.1. Real Estate Collateral Loans in Dubai In recent months, we’ve received numerous inquiries such as: “Can I borrow money using my property in Dubai as collateral?” The answer is: Yes, you can. Although conditions vary by bank, as of July 2025, the general terms are: Up to 60% of the property’s appraised value can be financed Interest rates are around 5–6% annually (for those without UAE residence visas) While financing is possible, the interest rate is relatively high. 2. Property Loans for Real Estate Purchases In addition to loans against owned properties, Dubai also offers real estate purchase loans based on your income level. These are commonly used when acquiring new property. Here are the typical terms (as of July 2025): Maximum loan amount: 20 million AED (subject to company revenue or individual income) Financing up to 60% of the property value (40% must be paid by the buyer) For non-residents, interest rates start from 4.24% annually ※ If you hold a Dubai visa and earn over 15,000 AED per month, the loan-to-value ratio may increase to 80%. To apply, you’ll generally need: Bank statements for the last 6 months (Japanese accounts accepted; English translation required) A valid passport Compared to collateral loans, income-based real estate loans tend to offer better interest rates, since banks consider steady income as a lower risk. 3. Summary: What the Rising Loan Usage Tells Us Dubai’s real estate market is increasingly supported by debt-based financing, not just high-net-worth cash buyers. In the UAE overall, loan usage in home purchases is about 19% In Dubai alone, this number exceeds 55% (Source: economictimes, globalpropertyguide, lymrealestate) In Q1 of 2025, Dubai recorded 9,300 residential mortgage registrations, marking a 24% year-over-year increase—a historic high. This trend shows that: “Dubai’s real estate market is no longer purely cash-driven—it’s increasingly debt-supported.” That’s not necessarily negative. However, in real estate history, markets with rapidly rising loan usage become especially vulnerable when prices start to decline. When a market enters a “reverse cycle”, the risk of loan defaults increases dramatically. This is why it is critical to monitor market signals and make cautious investment decisions. 4. Final Note If you are considering investment in Dubai real estate—or establishing a company in Dubai—it is now possible to set up a corporate entity for as low as 12,520 AED (approx. ¥500,000 JPY). For more detailed guidance or consultation, please feel free to contact us anytime.