Hello reader, In today’s newsletter: Dubai aviation sector: Activities to add $53.4bn to GDP and contribute to 816,000 jobs by 2030 Boeing: Aircraft industry company posts $6.2bn loss, the second-worst quarter in history Dubai real estate: First branded district on the water canal launches with exclusive Eden House development Dubai real estate: Property developer launches AI-powered $545m Laguna Residence in…
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Hello reader,

In today’s newsletter:

  • Dubai aviation sector: Activities to add $53.4bn to GDP and contribute to 816,000 jobs by 2030
  • Boeing: Aircraft industry company posts $6.2bn loss, the second-worst quarter in history
  • Dubai real estate: First branded district on the water canal launches with exclusive Eden House development
  • Dubai real estate: Property developer launches AI-powered $545m Laguna Residence in City of Arabia as Kareena Kapor and Amr Diab look on
  • Saudi Arabia: Kingdom announces mandatory USB-C charging for mobiles and electronic devices

Discover the latest stories from Arabian Business, compiled by our editorial team. Here's what you missed on Thursday:

Dubai’s aviation sector contributed AED137bn ($37.3bn) to the economy in 2023, according to an economic impact study from Emirates Group and Dubai Airports. The report highlights the importance of aviation to Dubai's economy and forecasts the sector’s continued growth. By 2030, the sector is expected to contribute $53.4bn to GDP and create 816,000 jobs.

Meanwhile, Boeing CEO Kelly Ortberg has called for changes at the company after it reported a $6.17bn loss during a workers strike. Boeing’s union rejected a new contract offer, extending the strike into a sixth week and further disrupting production.

On the real estate front, H&H Development announced the expansion of its Eden House brand with a new waterfront community on Dubai Water Canal. ‘Eden House The Park’ will feature low-rise buildings and lifestyle services, offering connectivity to business hubs like Downtown Dubai.

Dubai-based ONE Development launched its AED2bn ($545m) Laguna Residence project in City of Arabia. The project, unveiled at Dubai’s Coca Cola Arena, is the first fully AI-integrated residential development in the region, featuring a lagoon on a podium between two high-rise towers.

In Saudi Arabia, the Communications, Space and Technology Commission (CST) and the Saudi Standards, Metrology and Quality Organisation (SASO) announced that USB-C charging will become mandatory for mobile devices from January 2025. This move aims to improve user experience, cut costs for consumers, and enhance product quality in the Kingdom.

Until next time, Sharon Benjamin for Arabian Business

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