AB Espresso: New UAE traffic law for driverless cars

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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 Monday:

The UAE government passed a new federal traffic law at a Cabinet meeting at Qasr Al Watan in Abu Dhabi. The law includes amendments to classify different vehicles on roads and regulate emerging transport technologies. Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, said the legislation aims to keep pace with rapid global changes in transportation means. It addresses the expansion of self-driving vehicles, electric cars and personal modes of transit.

In addition, Dubai’s Roads and Transport Authority (RTA) has launched the “nol Travel” discount card initiative, which provides users with various benefits related to public transport and taxi fare payments as well as parking fees in the Emirate. Users can also take advantage of 100 exclusive promotional offers, such as discounts at hotels, restaurants, retail stores, entertainment venues, adventure activities, and other exciting opportunities.

On the real estate front, Abu Dhabi and Ras Al Khaimah are set to benefit from hundreds of millions in real estate investment from high-net-worth individuals around the world, according to a new report from property consultancy Knight Frank. Knight Frank’s 2024 Destination Dubai report surveyed 317 wealthy investors globally with a combined net worth of $5.4 billion. It found investors are willing to spend $408.3 million on residential property in Abu Dhabi and $388.5 million in Ras Al Khaimah.

Moreover, Binghatti Developers announced plans to launch 12 new real estate projects in the second half of 2024, representing an investment of over AED10 billion ($2,722,563,000 approximately). Muhammad BinGhatti (below), CEO of BinGhatti Developers, said current projects are proceeding as scheduled with high demand and good sales.

In other news, the UAE will experience an earlier summer solstice this year. Occurring on June 20 at 8.51pm UTC, this marks the earliest solstice since 1796 for most countries around the world. This celestial event will usher in the longest day of the year for the UAE, with daylight hours reaching 13 hours and 48 minutes. Similar variations in solstice timing can be expected in future leap years.

THE LONGER READ:

The investment figure spanning 2012-2023 was revealed exclusively to Arabian Business by Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, during an event in Casablanca last week

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