AB Espresso: New UAE 10-year Blue Visa announced

Hello reader,

In today’s newsletter:

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

The UAE is launching its 10-year Blue Visa, recognising sustainability leaders. The Ministry of Climate Change and Environment and the Federal Authority for Identity, Citizenship, Customs and Ports Security have announced the first phase, awarding Blue Visas to 20 sustainability thought leaders and innovators.

On the real estate front, Dubai has rolled out a new artificial intelligence-powered star-rating system for buildings, which could put financial pressure on landlords, especially those with older properties. The system may create a two-tier market, forcing costly upgrades and pushing out middle-class investors in the process.

In addition, Dubai’s real estate market showed resilience in January, with total transactions hitting AED35.2bn ($9.6bn), a 22.9% increase in value and a 23.1% rise in volume compared to last year. The sector continues to thrive with regulatory enhancements and an expanding freehold ownership market.

Aside from this, Minister of Economy Abdullah bin Touq Al Marri forecasts a 5-6% growth in the UAE’s national economy in 2025, driven by sectors like technology, renewable energy, trade, and financial services. The UAE’s non-oil GDP growth averaged 6.2% from 2021 to 2024, accounting for 75% of total GDP.

In other major news, the UAE has secured a spot in the top 10 countries with the most AI companies per million population, according to the Global AI Competitiveness Index. This recognition highlights the UAE’s growing prominence in the AI industry, alongside other innovation hubs like Singapore and Hong Kong.

Until next time, Sharon Benjamin for Arabian Business

THE LONGER READ:

Buy now, pay later provider prepares for listing as transaction volumes hit $10 billion annually

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