AB Espresso: Dubai real estate ‘red flags ’

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Check out the latest updates from Arabian Business, where our editorial team has compiled the region's developments from Monday:

As Dubai’s property market continues facing high demand from investors, industry experts advise to exercise caution and conduct an abundance of research while treading the landscape of property developers and projects in the city. “Developer track record is one of the main metrics to look at when evaluating a developer because that will help predict its future projects,” said Yassir El Ghazi, managing partner, McCone Properties. “Reputation is the next one to look at as it goes beyond the building quality and focuses on building maintenance after the project is handed over.”

Meanwhile, Dubai real estate developer Meraas has awarded an AED850 million construction contract for the Bvlgari Lighthouse on Jumeira Bay Island. The 27-storey luxury residential tower is being designed by the renowned architecture firm Antonio Citterio Patricia Viel. With marine works already completed, Dutco Construction Co LLC will soon begin work on the prestigious development.

In other news, a Dubai royal has launched a new fragrance line and is selling perfume, body spray and powder online. Sheikha Mahra Bint Mohammed Bin Rashid Al Maktoum announced the ‘Divorce’ fragrance range last week and has now revealed price details, product lines and a website. Sheikha Mahra, daughter of Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, showcased the fragrance on social media.

On the transportation front, Etihad Airways has announced plans for major expansion as it revealed its Summer 2025 schedule, with a double-daily debut on a host of top European destinations. The newly enhanced schedule, now open for booking, offers increased flight frequencies and convenient 2pm departures to many European destinations, further boosting tourism to Abu Dhabi.

Aside from this, TikTok has announced an exclusive collaboration with TOUGHLOVE Advisors and Arabian Business, to launch The Future Collective, a one-of-a-kind initiative, joining industry and government leaders to tackle the most pressing challenges and fortify businesses for a resilient, future-ready tomorrow.

THE LONGER READ:

In the GCC – mainly in the UAE and Saudi Arabia – 6 out of 10 CHROs plan to invest significantly in HR tech in 2024, with 37% focusing on AI technologies to address talent shortages and skill development

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