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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:

Maktoum Bridge in Dubai will undergo a series of closures for routine maintenance until January, 16 2025, announced the Roads and Transport Authority (RTA). The major crossing will be closed over night six days a week and all day on Sundays for an extended period. The RTA has advised motorists to plan alternative routes to ensure timely arrival at destinations.

On the real estate front, Dubai’s real estate market has entered a period of stabilisation following significant price increases in off-plan properties during 2023, according to a report by Betterhomes. The market witnessed a spike in off-plan property prices over the last year, driven by high demand and limited supply in key areas. Prices in high-demand locations such as Dubai Hills Estate, Business Bay, and Jumeirah Village Circle surged by 15-30 per cent compared to the previous year.

In other major developments, British band Coldplay has announced an exclusive performance in Abu Dhabi as part of their Music Of The Spheres World Tour. The show, scheduled for January 11, 2025 at Zayed Sports City Stadium, will be the only one in the Middle East region. The tour has broken records, selling over 10 million tickets worldwide. Coldplay’s last performance in Abu Dhabi was in 2016.

Meanwhile, Dubai, Abu Dhabi and Riyadh are among the cities tipped to see the biggest increase in their centi-millionaire population, according to a new study. There are currently 29,350 individuals worldwide with liquid investable assets of $100m or more, according to the Centi-Millionaire Report 2024 released by Henley & Partners. While the US and China are home to the most mega-rich residents, Gulf cities are catching up and will see centi-millionaire populations swell in the next decade and a half.

Aside from this, Dubai International Airport (DXB) has once again ranked among the world’s busiest airports for international passengers, according to a report from analytics experts OAG. The airport handled 44.9 million travellers in the first half of this year, one of the highest on record for the emirate’s aviation hub. The Top 10 Busiest Global Airports in the World by OAG are calculated using total airline capacity (domestic and international flights). These are calculated using international airline capacity only.

THE LONGER READ:

Gen Z is increasingly turning to TikTok for career advice and job searching, challenging LinkedIn’s dominance as a professional networking platform – but is it a wise choice?

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