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In today’s newsletter:

Discover the latest stories from Arabian Business, in case you missed them on Wednesday:

Dubai’s residential property prices are expected to moderate in 2025, with housing prices predicted to increase by 5 to 10 percent, industry leaders said. The demand for affordable housing is likely to shape the market this year, alongside continued interest in off-plan properties and luxury developments. Although global economic factors, such as interest rate changes, may affect market sentiment, Dubai’s infrastructure and investor-friendly policies are expected to sustain interest from residents and high-net-worth individuals.

Meanwhile, the UAE plans to expand its Comprehensive Economic Partnership Agreements (CEPAs) in 2025, aiming to strengthen international trade. Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, stated that the UAE will target new trade partners to enhance economic benefits. The agreements are designed to support rules-based trade, sustainable development, and increased investment opportunities.

On the transport front, Dubai’s public transport system recorded more than 2.5 million passengers on New Year’s Eve. Official data showed a 9.3 percent increase compared to the previous year, with 2,502,474 passengers using public transport, shared mobility, and taxis during the celebrations.

In other news, Kuwait has introduced a 15 percent tax on multinational enterprises (MNEs) operating across multiple countries, effective January 1, 2025. Minister of Finance and Minister of State for Economic Affairs and Investments, Nora Al Fassam, said the tax aims to support Kuwait’s economic development and financial sustainability while aligning with the Kuwait Vision 2035 strategy to diversify income sources and reduce reliance on oil revenues.

Aside from this, Romania and Bulgaria have joined the Schengen Area following the EU’s decision on December 12 to lift internal land border controls with the countries. Both nations are now part of the border-free zone, facilitating the free movement of EU citizens. The decision marks the culmination of efforts by Romania and Bulgaria to join the Schengen Area and integrate more closely with the EU.

^{Until next time, Sharon Benjamin for Arabian Business}

THE LONGER READ:

Several area topped the list including Palm Jumeirah, Jumeirah Village Circle (JVC) and Jumeirah Beach Residence (JBR)

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