AB Espresso: Wynn Al Marjan to fuel 58% real estate growth

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In today’s newsletter:

Explore the latest updates from Arabian Business, where our editorial team covered stories ranging from topics such as real estate to technology and more. Here's what you missed on Tuesday:

Dubai National Air Travel Agency, or dnata, is considering to automate the passenger experience at airports operated by the agency across the world, dnata CEO Steve Allen told Arabian Business in an exclusive interview. “On the passenger side, we will be looking for more automation of the passenger experience – we are looking at introducing handheld devices for check-in and boarding, which will eliminate the need to queue at desks,” Allen said, adding that biometrics will also be enhanced in the process.

On the real estate front, Dubai real estate giant Emaar Development saw property sales increase 50 per cent to AED12.9bn ($3.5bn) in Q1, 2024, compared to AED8.6bn ($2.3bn) in Q1 2023. This performance resulted from Emaar Development’s successful property launches, which created a good revenue pipeline for the future and marked steady progress towards the company’s strategic initiatives to further cement its position as a trusted developer.

In the global real estate market, the hubs of Dubai and New York stand out as prime property markets, among other prominent cities. But when it comes to purchasing property, how do these two cities compare? With the budget of $1 million, prospective buyers face several choices, from high-rises to penthouses and more.

Aside from this, apartments and villas in upcoming ultra-lux projects in Ras Al Khaimah’s Al Marjan Island, including MASA Residence branded by YOO and Address Residences by Emaar, can fetch up to a whopping 58 percent return on investments over a five-year period, thanks to the upcoming multibillion-dollar casino-cum-resort project by Wynn, a new AI-based study predicted. The Wynn Resort project is also triggering an influx of hotel and resort projects in Al Marjan, paving the way for the man-made island to successfully transition into a world-class hospitality destination.

In other news, UAE weather forecasters have said there is a chance of rain in the country this week. The National Centre of Meteorology shared a forecast identifying Tuesday and Wednesday as the most likely to be associated with rainfall in the UAE this week. Later in the week, the NCM has said there is likely to be moderate winds and the likelihood with blowing dust and sands in the UAE.

THE LONGER READ:

‘External validation’ and ‘pressure’ – UAE experts reveal the psychology behind office peacocking and coffee badging

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