AB Espresso: Ozempic baby boom

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In today’s newsletter:

Discover the latest developments curated by our expert editorial team at Arabian Business. Here's what you missed on Wednesday:

UAE public and private sector workers will work from home amid forecasts of unstable weather in the country. The Ministry of Human Resources and Emiratisation (MoHRE) has advised private sector companies to apply flexible and remote work patterns on Thursday May 2, to maintain the health and safety of their workers in light of the expected weather conditions. This comes after coordination between MoHRE and the relevant authorities.

In addition, Dubai Metro operating hours will be extended on Wednesday, May 1 and Thursday, May 2. The Roads and Transport Authority announced the service extension in a message on social media. To facilitate transport to and from Dubai International Airport, the Metro will operate from midnight until 5am the following day.

On the real estate front, Dubai’s residential real estate market witnessed record-breaking growth in the first quarter of 2024, driven by a substantial surge in off-plan property sales, according to a new report by Savills. Off-plan sales skyrocketed 73 percent quarter-on-quarter, accounting for 63 percent of total transactions in Q1, the property consultancy said in its Dubai Residential Market report for the first quarter of 2024. The jump came amid strong demand for high-quality properties from reputable developers coupled with attractive incentives offered during project launches.

Moreover, Abu Dhabi’s Aldar Group has announced Athlon, its second residential project in Dubai in partnership with Dubai Holding. The name is inspired by the Greek word for ‘place of contest’ and Aldar has called it “a first-of-its-kind ‘active living’ concept in Dubai”, specifically designed with principles of active living. Building on the success of Haven by Aldar, launched in late 2023, Athlon will be Aldar-Dubai Holding joint venture’s second residential project in the emirate.

In other news, Spinneys confirms share price as IPO values supermarket firm at $1.5bn ahead of launch on Dubai Financial Market (DFM). Spinneys 1961 Holding plc (Spinneys), an operator of premium grocery retail supermarkets under the “Spinneys”, “Waitrose” and “Al Fair” brands in the UAE and Oman, has announced the successful completion of the bookbuild and public subscription process for its initial public offering (IPO) on Dubai Financial Market (DFM).

THE LONGER READ:

Ozempic’s weight loss effects have led to unexpected pregnancies in women previously struggling with obesity or infertility, UAE doctors confirm

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