AB Espresso: Emaar founder sparks $1bn Madagascar deal

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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 Monday:

Emaar founder Mohamed Alabbar is in Madagascar for meetings with business and political leaders, Arabian Business reported on Monday. His visit has sparked speculation about a potential investment deal exceeding $1 billion. Alabbar arrived at the weekend and plans to stay until Tuesday, the report said.

In other real estate news, Dubai's property sector is witnessing a trend towards mixed-use developments that integrate residential, commercial, and leisure spaces. Developers are also increasing focus on affordable housing to cater to the middle class and young professionals moving to Dubai.

Meanwhile, in the latest AB Majlis episode, former Nissan chairman Carlos Ghosn criticised what he termed the "weaponisation of justice." Ghosn, who now resides in Lebanon after his 2019 escape from Japan, claimed his downfall resulted from collusion between Japanese authorities and Nissan executives. He provided his account of events leading to his arrest and subsequent flight.

Other major developments include the UAE's introduction of 30-day visas for expatriate residents from Gulf Cooperation Council (GCC) countries. The UAE Digital Government announced that residents of Saudi Arabia, Qatar, Kuwait, Oman, and Bahrain can apply for these visas online before travel. The visas can be extended for an additional 30 days.

Aside from this, organisers have announced the Gold sponsor for the 2024 Arab Woman Awards. The event, scheduled to take place on October 29 at the Jumeirah Mina Al Salam in Dubai, recognises women leaders in the Arab world. Dar Global serves as the Platinum Sponsor, while GE HealthCare is the Healthcare Partner.

Until next time, Sharon Benjamin for Arabian Business

THE LONGER READ:

The former auto industry magnate’s comments come as he continues to fight legal battles stemming from his tenure at the helm of the Renault-Nissan-Mitsubishi alliance

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