AB Espresso: UAE developing spacecraft for asteroid belt landing

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In today’s newsletter:

Stay informed with the latest updates from Arabian Business. Here’s what you missed over the weekend:

The UAE is developing the EMA Lander to study the 7th asteroid Justitia as part of the Emirates Mission to the Asteroid Belt (EMA). The project was formalised through an agreement between the UAE Space Agency and the Technology Innovation Institute (TII), signed in the presence of Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister and Minister of Defence of the UAE, and Chairman of the Supreme Space Council. The lander will be aboard the MBR Explorer.

On the transport front, Dubai’s Roads and Transport Authority (RTA) has opened a bridge in Phase 4 of the Al Shindagha Corridor Improvement Project. The 605-metre bridge connects Al Mina Street with Sheikh Rashid Road and Sheikh Khalifa bin Zayed Street, offering two lanes with a capacity of 3,200 vehicles per hour.

Aside from this, the UAE now has 23,960 registered drones, according to the General Civil Aviation Authority (GCAA). The UAE Drones Unified Platform has facilitated the registration of 93 companies and processed 270 individual applications. The platform also ensures compliance with regulations and provides guidelines for safe drone usage.

In other news, Dubai’s real estate market recorded AED116.5 billion ($31.7 billion) in sales transaction values during Q4 2024, reflecting a 31.1 percent year-on-year increase. Transaction volumes reached 46,844, a 51.8 percent rise. The off-plan market accounted for over half the total value, while the luxury property segment continued to attract investors globally.

Meanwhile in Saudi Arabia, the kingdom has allocated SR10 billion ($2.7 billion) to activate the Standard Incentives Program for its industrial sector. The initiative, approved by the Council of Ministers, aims to support industrial investments and enhance the sector's competitiveness. The program covers up to 35 percent of initial project investments, capped at SR50 million ($13.3 million) per project.

Until next time, Sharon Benjamin for Arabian Business

THE LONGER READ:

Dubai’s new Smart Rental Index 2025 leverages AI and real-time data to calculate rental values, aiming to enhance market transparency, protect tenant rights, and provide investors with accurate insights

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