AB Espresso: Dubai real estate outperforms London, New York

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In today’s newsletter:

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

Dubai’s property market has outperformed London and New York, attracting investors with rising prices, supportive policies, and accessible entry points. The average sale price in Dubai is $438 per square foot, offering significant value compared to global counterparts. The market combines luxury and modern amenities with affordability, appealing to a wide range of buyers and speculators.

Meanwhile, Dubai’s Roads and Transport Authority (RTA) will implement variable Salik toll pricing and parking tariffs from January 2025. The initiative includes event-specific parking fees and toll-free Salik passage between 1 am and 6 am. These changes aim to improve traffic flow and align with Dubai’s transport strategy.

Moreover, the Dubai Multi Commodities Centre (DMCC) is linking Web3 and AI businesses in the UAE and Vietnam to tap into a $20 billion trade corridor. Following the UAE-Vietnam Comprehensive Economic Partnership Agreement, DMCC hosted events in Hanoi and Ho Chi Minh City, connecting more than 650 business leaders to promote technology-driven trade and investment.

Aside from this, Emaar Properties has completed an upgraded lighting system for the Burj Khalifa ahead of its 15th anniversary. The new RGBW façade lighting enhances the visual experience of the world’s tallest building, combining advanced technology with architectural design.

In other news, a new UAE scam report from the Cybersecurity Council and TRENDS Research highlights methods of online fraud and public confidence in detecting scams. The study, conducted with the Global Anti-Scam Alliance and BioCatch, found that 65 percent of respondents were confident in identifying scams, while 9 percent reported low confidence.

Until next time, Sharon Benjamin for Arabian Business

THE LONGER READ:

The Christmas tourism boost, if sustained, could provide much-needed foreign currency inflows for a country whose currency has lost more than 90% of its value against the US dollar on the black market

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