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Stay informed with the latest updates from Arabian Business, where our dedicated editorial team brings you a diverse range of stories. Here's what you missed on Tuesday:

Summer in the UAE is currently underway with students on break from school and residents increasingly looking to travel during these months. According to recent data from Skyscanner, several countries in the region offer wallet-friendly travel options for UAE residents including India, Kuwait, Pakistan, Saudi and Oman. Here are some destinations with direct flights under AED1,000.

In other news, Dubai’s residential real estate sector is seeing a new kind of competition – house owners are vying with each other to carry out the most expensive and innovative renovations in their apartments to woo ‘premium’ tenants. Property management and rental services companies are responding to the new trend in double quick time, coming up with three special packages with repair options – minimum, business and premium, industry insiders told Arabian Business.

Meanwhile, Dubai’s Allsopp & Allsopp’s Private Office has set a new record for the most expensive villa sale in Tilal Al Ghaf, the company said in a statement. The seven-bedroom off-plan Lanai Island mansion sold for AED105 million, achieving AED 3,416 per square foot – 15 percent above the average for similar properties.

In addition, Dubai topped the rankings of 30 global cities for rental value growth in the first half of 2024, according to Savills' latest Residential World Cities Index. It also showed the emirate ranked 5^th globally for capital value growth in the first half of 2024. Dubai topped the index for rental value with gains of 12.1 percent in H1, 2024, followed by Bangkok (9 percent) and Lisbon (7.5 percent).

Aside from this, the Abu Dhabi Business Centre at the Abu Dhabi Department of Economic Development (ADDED) has added 12 new economic activities to the Tajer Abu Dhabi licence. This allows investors to obtain an economic licence without needing to work from a physical location or pay rent on commercial space for three years.

THE LONGER READ:

A potential Trump victory could revive ‘America First,’ bringing a more isolationist foreign policy, a possible rekindling of the US-China trade war, and more, experts say

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