Hello reader,

In today’s newsletter:

The UAE and Saudi Arabia are projected to see further increases in the number of high net-worth individuals relocating this year, driven by initiatives to attract foreign investment and talent, a finance industry expert told Arabian Business.

On the real estate front, the villa rental market in Dubai is expected to remain relatively stable during the first quarter of 2024, with rental rates remaining unchanged, according to Haider Tuaima, Director and Head of Real Estate Research at Valustrat.

In addition, Dubai real estate authorities have handed out fines to firms braking property advertising rules in the emirate. The Real Estate Regulatory Agency (RERA), the regulatory arm of Dubai Land Department (DLD), emphasises that all real estate companies must adhere to the terms and conditions stipulated for real estate advertisements.

The emirate is also fast emerging as the preferred global destination for relationship milestones as couples pour in from every corner of the world, experts told Arabian Business.

Meanwhile in Saudi Arabia, NEOM has announced Xaynor, a beachfront private members’ club, on the rocky landscapes of the Gulf of Aqaba. Xaynor is the latest addition to the evolving regional development in northwest Saudi Arabia.

THE LONGER READ:

In this special issue, we present the biggest names in Dubai’s vibrant business community, and their plans to help the emirate continue its status as the leading hub of industry and entrepreneurship in this part of the world