AB Espresso: New UAE rules in 2024

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In today’s newsletter:

Discover the latest stories from Arabian Business, compiled by our editorial team. Here's what you missed on Tuesday:

Morocco is planning to double its hotel capacity with the addition of 1.5 million new rooms ahead of an anticipated 26 million tourists by 2030, creating multi-billion dollar opportunities for Dubai investors ahead of the FIFA World Cup, officials revealed to Arabian Business. With over $50 billion in investments being lined up for World Cup-related projects including infrastructure, transportation, healthcare, and tourism developments, the North African nation is leaning on Dubai’s expertise to achieve its transformational vision.

Meanwhile, members of Dubai’s business community are praising the government’s move to appoint 22 new Chief AI Officers across various agencies, calling it a critical step in implementing the recently announced Universal AI Blueprint in the emirate. The appointments, announced by Dubai Crown Prince Sheikh Hamdan bin Mohammed Al Maktoum, are part of the city’s “forward-looking vision aimed at leveraging AI to enhance government operations,” he said in a statement on Sunday.

On the real estate front, the Dubai property market presents opportunities for investors seeking rental income at varying price points as population growth and major infrastructure developments like the expansion of Al Maktoum International Airport are fuelling rental yields in prime areas and suburbs. With off-plan purchases in communities offering lower entry points and the prospect of appreciation upon completion, landlords are poised to capitalise on Dubai’s appetite for housing, experts told Arabian Business.

In other news, Wizz Air Abu Dhabi has announced a 20 percent discount on selected routes for travel between July and August. The one-day flash sale will take place on June 11 for flights over the summer period. Routes from Abu Dhabi to various destinations in Europe, North Africa, Central Asia and the Middle East are included in the promotion. Destinations range from cities to beach and cultural destinations.

As for Saudi Arabia an extraordinary transformation is taking place in the untamed expanses of the kingdom's northwestern region. NEOM, an ambitious $500 billion giga-project, is spearheading a pioneering rewilding initiative that is breathing new life into the region’s ecosystems. At the heart of this endeavour lies NEOM’s Nature Reserve, a sprawling 25,000 square kilometre sanctuary where a massive commitment has been made: to protect 95 percent of the land for conservation purposes.

THE LONGER READ:

The UAE has seen the introduction of several new rules and regulations this year, here is all you need to know

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