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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 Tuesday:

Joby Aviation announced it has taken the first step towards becoming a certified air taxi operator in the UAE. During the International Civil Aviation Organization’s inaugural Advanced Air Mobility Summit, taking place in Montreal, Canada this week, JoeBen Bevirt, founder and CEO of Joby Aviation, met with Saif Mohammed Al Suwaidi, Director General of the UAE General Civil Aviation Authority (GCAA), and presented Joby’s Letter of Intent to initiate Joby’s Air Operator Certificate application.

On the real estate front, Dubai South Properties has awarded an AED150 million contract to Al Turath Al Aseel Contracting for the construction of South Living Tower, a luxury apartment development in The Residential District of Dubai South. The project, launched in June 2024, is set to be completed by Q1 2027. It will comprise 209 units, including studios, one-, two-, and three-bedroom apartments, as well as special-terraced units.

In addition, Dubai’s property market continues to excel, with prices reaching a record AED1,431 per square foot, an 18 percent increase from last year. August saw 15,000 sales transactions totalling AED38.55 billion ($10.5 billion approximately), indicating robust demand despite limited supply, Betterhome said in a statement on Tuesday.

In other major developments, Apple has announced its latest flagship smartphones, the iPhone 16 Pro and iPhone 16 Pro Max, boasting larger displays, enhanced camera capabilities, and improved performance. The new models, set to hit the market on September 20, feature a durable titanium design and are powered by the A18 Pro chip.

Aside from this, Saudi Arabia is set to transform its real estate landscape with the announcement of over 1 million new homes by 2030, a new report finds. This ambitious plan is part of Saudi Vision 2030, a strategic framework aimed at diversifying the economy and improving housing availability across the Kingdom. According to Knight Frank’s annual Saudi Giga Projects Report, 1,048,000 residential units have been announced since 2016, with 4 percent already completed.

THE LONGER READ:

With fewer people approaching strangers in real life, many are now paying for premium features on dating apps to increase their chances of forming genuine connections

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