AB Espresso: Dubai real estate market ’s best-performing areas

Hello reader,

In today’s newsletter:

Discover the latest stories from Arabian Business, compiled by our editorial team. Here's what you missed on Monday:

Dubai's property market recorded sales worth AED141.9bn ($38.6bn) in Q3 2024, setting a record for a single quarter. The Q3 sales surpassed the previous quarterly record of AED124.07bn ($33.8bn) in Q2 this year, representing a 30.1 per cent year-on-year rise in value. fäm Properties revealed the neighbourhoods with the most properties sold and identified the price bands with the most transactions.

Moreover, the emirate is seeing an uptick in job-seeking professionals from Eastern and Western Europe, Russia, and neighbouring countries in the Middle East as companies expand into the emirate, increasing demand for residential properties. Social media influencers are also moving to the city as Dubai rises as a hub for content creation and events. Business owners are moving to establish or grow their ventures in Dubai.

In other news, PricewaterhouseCoopers (PwC) has acknowledged the turnaround in Egypt's economy and the UAE government's role in the process. In its monthly Middle East Economy Watch report, PwC noted Egypt's economic turnaround, supported by a $35 billion investment from the UAE. This has driven reforms, including currency liberalisation, helping to reduce inflation and unlock international support.

Aside from this, professionals in the UAE are overwhelmed by work changes, with 89 percent searching for guidance on how to navigate the change. The pace of change has left 55 percent worried about being left behind. The challenges facing workers are proving they can integrate AI into daily work (35 percent), managing multi-generational teams (34 percent) and working from the office successfully (33 percent).

Meanwhile, the National Basketball Association (NBA) has dismissed rumours of plans to hold games or expand operations into Saudi Arabia. Deputy commissioner Mark Tatum told Arabian Business there are no current plans to play games in Saudi Arabia. Tatum acknowledged that while the games are broadcast across Saudi Arabia as part of the league's media rights deal, there are no arrangements to take pre-season or regular season games to the Kingdom.

Until next time, Sharon Benjamin for Arabian Business

THE LONGER READ:

What is the best way to respectfully decline a work task without letting it affect your mental health, as well as your productivity? Here is what UAE career experts told Arabian Business

Was this newsletter forwarded to you? Subscribe now.

For editorial queries, please contact:

abnews@itp.com

For advertising enquiries, please contact:
absales@itp.com

© 2024 ITP Digital Media Inc. All rights reserved.

Terms Policy

Email Information

You have received this email message from ITP Media Group, the leading media company in the Middle East. Your email address - newsletter@newslettercollector.com - has been recorded because you have subscribed to our newsletter through one of our market-leading websites, to one of our market leading print publications and newsletters or are registered with one of our websites. For more information, visit www.itp.com.

Remove your email address from this mailing list ONLY(Please note, this will not affect any other newsletter subscriptions)

Removal requests may take up to 48 hours to process; you may receive additional mailings during that time. A confirmation email will be sent when your request has been successfully processed.

Is this email in your junk/bulk folder?
To ensure that you receive all future newsletters and emails from us, add newsletters@arabianbusiness.com to your address book.

ITP Media Group, PO Box 500024, UAE