AB Espresso: UAE rains to hit this weekend

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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:

With voters going to the polls in just over a month from now to decide on who they want as the 47th President of the United States, Eric Trump speaks to Arabian Business in an exclusive interview about tensions, assassinations, investments and his love for Dubai. Twice this year Donald Trump’s life has been at immediate risk. An assassination attempt in July which saw a bullet whizz past his head and take a chunk of his ear whilst speaking at a rally in Pennsylvania. And then another just two months later at the Trump International Golf Club in Florida where a secret service agent spotted a rifle poking through a fence. Now, a third one is looming, it’s causing grave concern for his family, not least his third born, Eric Trump.

Meanwhile, UAE weather forecasters have warned of the possibility of rain, fog, clouds and humidity in parts of the country this weekend and into next week. The National Centre for Meteorology (NCM) issued a forecast looking ahead to weather conditions across the UAE until the end of the month. It said that although the weather in the UAE will be seasonally fair in general, rain is expected on Saturday, Sunday and Monday to close out September with occasional downpours.

In addition, WeRide and Uber announce partnership to bring self-driving robot taxis to the UAE. WeRide’s autonomous vehicles will arrive on the Uber platform starting in Abu Dhabi later this year. A dedicated number of WeRide vehicles will be made available to consumers using the Uber app.

On the real estate front, the Abu Dhabi real estate sector has seen major increases to sales and property rental prices, according to the latest Cushman & Wakefield Core’s Abu Dhabi Market Update YTD 2024. The real estate firm’s study reveals steady growth and resilience in Abu Dhabi’s residential markets. So far this year, 2,431 units have been handed over, including 1,315 apartments in Al Raha Beach, Al Maryah Island, and Masdar City, as well as 1,116 villas in Jubail Island, Yas Island, and Saadiyat Reserve.

Moreover, the overall UAE real estate market is anticipated to reach a value of AED2.5tn ($681bn) by the end of 2024, according to QUBE Development. The growing surge is due to various factors with the off-plan market being the major contributor and responsible for 65 per cent of overall sales transactions for the month of August 2024. It represents 54 per cent volume increase from what was recorded during the same period last year.

THE LONGER READ:

Booking portals are aggressively marketing major events across the UAE capital to maximise returns during peak tourist season

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