- Global leaders examine capital reallocation, Dubai’s growth model and opportunities across real estate, infrastructure and the future economy
- ‘Capital allocation will change phenomenally – and diversification across geographies and sectors is key’ – José Manuel Barroso of Goldman Sachs
- ‘The lines between real estate and infrastructure are getting blurred…creating interesting opportunities for portfolio construction – Ludovic Subran, Allianz
Dubai, UAE: As geopolitical shifts, changing trade relationships and evolving financial conditions reshape the global economic landscape, RISE Summit 2026 brought together leading investors, policymakers, developers and industry decision-makers at Dubai World Trade Centre today to examine where capital is moving and where the next phase of global growth could emerge.
Held under the theme ‘Recharging Momentum in Global Economies,’ the Summit explored how changing investment priorities are influencing global markets, infrastructure, cities and real estate, alongside the future experience economy spanning hospitality, tourism and new models of urban growth.
The UAE’s broader economic transformation was also a central theme of the Summit. Speaking during ‘From Resilience to Opportunity in a Realigning World,’ H.E. Abdulla bin Touq Al Marri, UAE Minister of Economy and Tourism, highlighted the country’s focus on building a more productive economy.
His Excellency said: “When you ask about 2027, we’re not going to come back to the same economy. We’re going to have a different economy in 2027, a more productive economy.”
Global Leaders Series examines international forces sharping investment landscape
The Summit opened with its Global Leaders Series, examining the changing dynamics of international capital and the forces reshaping long-term investment decisions. In ‘The Great Capital Shift,’ José Manuel Barroso, Chairman of International Advisors at Goldman Sachs and former President of the European Commission, examined how geopolitical and economic realignment is changing perceptions of where capital can be deployed safely and productively, and which markets are emerging as beneficiaries of this shift.
This was followed by Ludovic Subran, Group Chief Investment Officer and Chief Economist at Allianz, who addressed the implications of the changing interest-rate environment for institutional investors in ‘Long-Term Capital in a Higher-Rate World’, including the evolving balance between fixed income, real estate, infrastructure and private markets.
Highlighting the need for investors to adapt to a rapidly evolving global landscape, Barroso said: “We are witnessing a fundamental change. This is not only geopolitical; it is also a scientific and technological revolution, and the way we allocate capital is going to change phenomenally. Long-term investors need to think strategically about what will change markets in the years ahead – energy, infrastructure, technology and defence. Don’t pay any price for growth, keep some liquidity and, above all, diversify – geographically and across sectors. For me, that is the key.”
On the Gulf’s position within shifting global capital flows, Barroso added: “Global competition is going to continue. The US will remain the central part of the world economy because of the pre-eminence of the dollar, its advances in innovation and science and its geopolitical power. At the same time, global investors will not want to be so heavily exposed to the US, so there will be diversification. The Gulf has been wise in keeping its options open, using its centrality to play an articulation role between new destinations for investment.”
Looking beyond the AI investment boom
Turning to the global growth outlook, Subran highlighted the increasing influence of AI investment on economic momentum, while warning of growing caution across the wider economy. With data-centre investment and AI-related capital expenditure continuing to underpin growth, he questioned what could emerge as the next major economic driver as the current cycle eventually begins to shift.
Subran said: “My main concern is whether the US can sustain the momentum we have seen so far with what is coming in 2027. Global trade is in recession this year if you take out AI, which shows how much the AI economy and data-centre capex are driving global and US growth. At some point that will inflect, and we need to understand what comes next. Outside AI, firms are already very cautious about the future and about making their next investment.”
Against this higher-rate backdrop, Subran also pointed to a changing role for real assets within institutional portfolios, as the boundaries between real estate, infrastructure and technology become increasingly blurred.
He added: “Real estate is really morphing into something much more complicated. The lines between real estate and infrastructure are getting blurred, particularly across logistics and warehousing, creating interesting opportunities for portfolio construction.”
Deepening global appeal through local strength
Dubai’s own development trajectory formed another major strand of discussion. Mohamed Alabbar, Founder and Managing Director of Emaar Properties, examined the role of long-term conviction in city-building and why major development can continue through changing market cycles, while H.E. Issam Kazim, CEO of Dubai Corporation for Tourism and Commerce Marketing (DTCM) explored the economic architecture underpinning Dubai’s resilience and the next phase of growth under the D33 Economic Agenda.
Pointing to Dubai’s established strengths across multiple sectors, Kazim highlighted how the D33 agenda is building on existing foundations to deepen the city’s appeal to international businesses and investors, supported by its connectivity to global markets.
Kazim said: “When we started our D33 strategy, we focused on industries including logistics, manufacturing, financial services and tourism. None of these were new industries for us; we were already strong in them, but perhaps we were not as vocal about them. Today, we are doubling down on those strengths. Companies establish their regional headquarters in Dubai not simply for the four million residents here, but because of the global population and markets they can reach from Dubai.”
Tourism remains central to this proposition, with Kazim emphasising the value of attracting visitors who develop a lasting relationship with the city and become advocates for Dubai beyond their initial stay.
He added: “For me, the biggest value is quality rather than quantity. The quality visitors who come to Dubai become genuine advocates of the city because they understand the value Dubai adds. Around 25% of our visitors are repeat visitors within 12 months. That is a significant number, and it demonstrates the kind of relationship people develop with Dubai after experiencing the city.”
Beyond the macroeconomic outlook, RISE Summit examined how changing investment priorities are translating into opportunities across the built environment and the infrastructure needed to support future economic growth.
Across the programme, RISE Summit 2026 highlighted a changing investment environment in which capital remains available, but investors are becoming increasingly selective about markets, assets and partnerships. Discussions heard by over 500 delegates pointed to economic resilience, infrastructure capacity, regulatory clarity and access to long-term growth as increasingly important factors shaping global investment decisions.
By connecting institutional investors, sovereign capital, private equity, family offices, policymakers, developers and project owners, RISE Summit provides a platform for senior decision-makers to examine how global economic change is translating into new opportunities across markets, infrastructure, cities and real estate.
About RISE Summit 2026
RISE Summit 2026 is a high-level platform connecting institutional investors, sovereign funds, private equity firms, pension funds, family offices and global capital with governments, developers and project owners across real estate, infrastructure, hospitality, urban development and emerging investment sectors. The Summit provides a forum for senior decision-makers to examine global investment trends, identify cross-border opportunities and build partnerships around the future of cities and economies. RISE Summit 2026 takes place on 14 October 2026 at Dubai World Trade Centre.
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