AB Espresso: Trump’s return sparks crypto surge

Hello reader,

In today’s newsletter:

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

Donald Trump’s re-election as US President has ushered in major policy shifts for the cryptocurrency industry, with his administration aiming to position the US as the “crypto capital” of the world. The move is expected to have significant implications for the Middle East, a region with increasing involvement in the global crypto market.

On the real estate front, a 6,073-square-foot office space in Dubai’s Burj Khalifa—the highest in the world—has hit the market for $12.2 million. Attracting interest from Gulf family offices and international investors, the shell-and-core space offers panoramic views of Dubai. The listing comes amid record demand for commercial property, with office sales reaching AED 6.5 billion ($1.77 billion) in 2024.

In addition, Dubai-based Azizi Developments has announced Burj Azizi, a 725-metre tower set to become the second tallest in the world. The project was revealed at a launch event attended by 15,000 guests, including investors, diplomats, and government officials.

Aside from this, Dubai’s bkry in Alserkal Avenue has become a viral sensation, drawing long queues and even a visit from Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai. However, the "overwhelming" demand has led co-founder Kameel Rasyid to explore expansion options across the UAE.

In other news, a growing number of TikTok users are embracing the ‘no-spend’ challenge, a short-term financial reset aimed at cutting unnecessary expenses and boosting savings—but is the trend a short-term fix or a lasting solution?

Until next time, Sharon Benjamin for Arabian Business

THE LONGER READ:

Tabby, the leading player in the BNPL market in Saudi Arabia and the region, raised $160 million last week at an estimated $3.3 billion valuation, apparently in a final funding round ahead of an IPO

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