AB Espresso: Inside the $2.7bn Dubai Exhibition Centre expansion

Hello reader,

In today’s newsletter:

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

The Dubai World Trade Centre has started phase one of its AED10 billion ($2.7 billion) expansion of the Dubai Exhibition Centre (DEC) at Expo City Dubai. Approved by Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, and Ruler of Dubai in September, the project aims to double Dubai’s capacity to host large events annually by 2033, with the DEC set to become the largest indoor events venue in the region.

In other major developments, Sheikh Mohammed bin Rashid Al Maktoum, has also launched a series of Dubai Police projects valued at AED2bn ($545m) to enhance security, support specialised training, and improve employee wellbeing through new housing initiatives. The announcement came during his visit to the Dubai Police Officers Club in Al Jaddaf.

On the real estate front, IMAN Developers has reported that its One Park Square project in Jumeirah Village Circle sold out in just four hours. Valued at AED320mn ($87mn), One Park Square, set to complete by 2028, reflects rising demand for quality residential options in Dubai.

Meanwhile, Saudi-based Al Basateen and Riyad Capital have partnered on a SR2bn ($533m) fund to develop the Kings’ Square project in Riyadh. Announced at Cityscape Global 2024, Kings’ Square will feature residential, commercial, and office spaces designed by global architectural firm OMA.

Finally, Dubai Opera has achieved a milestone with 250,000 tickets sold last season, a significant achievement for the UAE’s cultural sector. Paolo Petrocelli, Head of Dubai Opera, highlighted the wide-reaching economic impact of cultural events, which support tourism and benefit industries like hospitality and transport, in a new episode of the AB Majlis podcast.

Until next time, Sharon Benjamin for Arabian Business

THE LONGER READ:

The entry of the new breed of tech players comes at a time when data security is emerging as a major challenge for the traditionally operating real estate industry

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