AB Espresso: Eid Al Fitr likely on April 10

Hello reader,

In today’s newsletter:

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 the weekend. Here's what you missed on Saturday and Sunday:

Dubai Holding will acquire property developers Nakheel and Meydan under directives from Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai. Nakheel and Meydan will become part of Dubai Holding leadership under Sheikh Ahmed bin Saeed Al Maktoum.

Meanwhile, the Dubai International Financial Centre (DIFC) has enacted the world’s first comprehensive Digital Assets Law, a groundbreaking move that aims to provide legal certainty and foster innovation in the rapidly evolving sector. However, the legal landscape surrounding digital assets has remained uncertain, with jurisdictions grappling with how to regulate and enforce rules in this nascent sector.

Aside from this, an Abu Dhabi-based Independent Financial Advisory has launched a new app to collect a user’s full financial health and assets in a single smartphone location.

In other news, Eid Al Fitr, the important religious holiday that marks the end of Ramadan, is expected to fall on Wednesday, April 10, 2024, according to Ibrahim Al Jarwan, Chairman of the Board of Directors of the Emirates Astronomy Society, based on Islamic astronomical calculations.

In addition, Dubai is hosting Ramadan firework displays, musical performances and night markets to celebrate the Holy Month. The light shows, firework displays, Ramadan-themed music performances, and more are part of the #RamadanInDubai campaign, hosted by Dubai Festivals and Retail Establishment (DFRE). Ramadan in Dubai will allow residents and visitors to experience the joy of the Holy Month with celebrations coming to every corner of the city up until Eid.

THE LONGER READ:

Experts say that while Dubai villas and townhouses saw strong demand during the pandemic due to more space needs, apartments may now offer better investment opportunities and potential for price gains in 2024 due to their relative affordability and continuing high demand

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