AB Espresso: Saudi Arabia announces MAJOR visa rule update

Hello reader,

In today’s newsletter:

On Tuesday, Arabian Business covered a wide range of stories, ranging from real estate, to visa updates in Saudi Arabia and the ongoing Iran-Israel conflict. Here are some of the most important stories in case you missed it.

The UAE insurance sector reported profits of AED2.5bn in 2023, up from AED1.96bn in 2022, driven by higher net investment income. Written insurance policies in the UAE increased to 14.6 million, nearly doubling from the previous year.

Meanwhile, Dubai's real estate market continues to attract investors, with Dubai Creek Harbour and Dubailand offering options for those with a $1 million budget. Dubailand features villas and townhouses in communities such as Villanova and Arabian Ranches, while Dubai Creek Harbour offers waterfront apartments. That said, here are the properties available for purchase.

In Saudi Arabia, NEOM revealed designs for the Sindalah Yacht Club, set to open later this year. The project, developed with Italian designer Stefano Ricci, aims to become a destination for yacht owners in the Red Sea.

The kingdom also announced changes to temporary work visas for Hajj and Umrah. The Ministry of Human Resources and Social Development shared details of the updated rules, which were approved by the Saudi Cabinet. These new visa rules aim to provide greater flexibility to the private sector and align with labour market requirements for Hajj and Umrah services.

Aside from this, Lebanese expatriates in the UAE face challenges securing flights for their families due to the situation in Lebanon. Travel agents report difficulties in booking tickets, causing concern within the Lebanese community in the UAE.

Until next time, Sharon Benjamin for Arabian Business

THE LONGER READ:

The coming days will be critical in determining whether this attack marks a new phase in the long-standing Iran-Israel conflict or if diplomatic efforts can succeed in preventing further escalation

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