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In today’s newsletter:

Discover the latest stories from Arabian Business, in case you missed them on Monday:

Dubai recorded over 13,000 branded residence unit sales in 2024, reaching AED60bn in transaction value, according to Betterhomes. Sales increased 43 per cent year-on-year and now represent 8.5 per cent of Dubai’s total real estate transaction value, with buyers paying premiums of 40–60 per cent per square foot compared to non-branded properties.

In addition, Dubai South Properties has launched Hayat, a master-planned community spanning 10 million sq ft in the Golf District near Al Maktoum International Airport. Phase one is expected to complete in Q2 2028.

Moreover, Dubai Municipality has awarded a AED100m contract for the first phase of the Ras Al Khor Wildlife Sanctuary Development Project. The full AED650m project aims to develop the sanctuary into an urban eco-tourism model in line with Dubai’s 2040 Urban Master Plan.

In other major developments, Dubai’s RTA and Joby Aviation have completed the region’s first aerial taxi test flight. The electric vertical take-off and landing (eVTOL) aircraft was tested in desert conditions as part of operations ahead of future commercial urban air mobility services.

Meanwhile, Abu Dhabi’s population grew by 7.5 per cent in 2024 to 4,135,985, according to SCAD. The emirate has grown 51 per cent since 2014, alongside a GDP increase of 3.8 per cent in 2024 to AED1.2tn, with non-oil sectors making up 54.7 per cent of total output.

THE LONGER READ:

From Japan to Dubai and Riyadh, the world’s most coveted green tea powder faces unprecedented supply constraints as demand begins to outweigh production capacity

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