Hello reader,

In today’s newsletter:

Discover the latest stories from Arabian Business, in case you missed them on Tuesday:

Cruise Saudi is expanding its reach along the Red Sea coast with plans for 10 cruise destinations, according to CEO Lars Clasen. Currently, three ports are operational, with four more in development and three planned for later, Clasen told Arabian Business, adding that the goal is to attract international tourists as well as serve the local market through the AROYA brand.

In Dubai’s real estate market, waterfront and city-view properties continue to be in high demand. However, industry experts say waterfront properties have shown stronger appreciation compared to city-view options, indicating a potential advantage for investors.

Meanwhile, LEOS Developments announced a $7 billion investment fund in the UAE, highlighting the company’s commitment to growing its presence in the region. CEO and founder Rui Liu shared that the fund’s scale reflects LEOS’s confidence in the UAE market in an exclusive interview.

In addition, Amali Properties has begun construction on Amali Island at The World Islands near Dubai. Three villas on the site sold for AED400 million before construction began. Representatives from Amali Properties, DUTCO Construction, and Van Oord attended the groundbreaking ceremony.

In other major news, the Arab Woman Awards 2024 celebrated the achievements of women in the region. The awards ceremony, held at Dubai’s Jumeirah Mina A’Salam Hotel, recognised women’s contributions across various sectors and hosted around 200-300 executives, leaders, and notable figures.

^{Until next time, Sharon Benjamin for Arabian Business}

THE LONGER READ:

Strong fundamentals such as stability, sustainability and scalability to drive the IPO surge among the region’s retail and grocery market players

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