AB Espresso: Beware of Binance scams on WhatsApp!

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Hello reader,

In today’s newsletter:

RAK Central: Marjan announces Ras Al Khaimah’s largest business district, with 4,000 residential apartments, 3 hotels and enormous office spaceFive Dubai real estate trends driving property market in 2023: Record sales, luxury boom, tenants become buyers and moreBinance scams: Crypto exchange company issues warning against rising WhatsApp scams in DubaiLuxury pawnbrokers: How the super-rich use diamonds, Birkins, yachts for quick cashUAE Gen Z ‘difficult to work with’: Here’s how employers can retain them

Take a look at the most recent news from Arabian Business, where our team of editors has gathered the notable advancements in the region from Monday:

On the real estate front, Ras Al Khaimah developer Marjan has announced major business, lifestyle and residential project RAK Central. The development will feature a Grade-A office and commercial district that is set to open in 2026, helping to drive business and tourism development, unlock job opportunities and redefine lifestyle in the Emirate.

Coming to Dubai, the emirate's real estate market witnessed historic highs in both transaction volume and value in 2023, according to specialists at D&B Properties. Here are the key highlights of city’s real estate achievements in 2023.

Aside from this, Binance, one of the world’s largest cryptocurrency exchanges, has issued a warning amid rising WhatsApp phishing scams in the region. The firm clarified that it’s only official communication channels are via Twitter, Instagram, Telegram, Facebook and email.

Meanwhile, Arabian Business also delved further into the world of luxury lending, where a privileged few have access to instant cash in exchange for a temporary hold on their diamonds, handbags, cars, or artwork. Also known as 'pawnbroking', this concept allows for several personal items to be used as collateral for instant cash and returned upon pay-off of the loan with interest.

As for hiring trends in the UAE, recent studies have shown that Gen Z employees are difficult to work with, due to the perceived lack of legacy technological skills, effort and motivation. While it is easier to remove Gen Z employees from an assignment or worse – a company – ever wonder what companies can do to retain them instead?