Hello reader,

In today’s newsletter:

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

Dubai’s property market recorded AED44.4 billion ($12.1 billion) in sales in January 2025, a 24.1 percent increase from the same month last year. According to fäm Properties, the number of transactions rose 23.2 percent to 14,236, with land sales seeing the biggest surge, up 151.9 percent month-on-month to AED8.6 billion ($2.3 billion).

In addition, Four Seasons has announced a new resort and private residence project at Mina, Ras Al Khaimah. The development will include 150 rooms and suites alongside 130 private residences, expanding the brand’s presence in the UAE’s growing luxury hospitality sector.

In other major news, the UAE’s foreign trade exceeded AED3 trillion ($817 billion) by the end of 2024, reaching a new record, Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai announced. He credited President Sheikh Mohamed bin Zayed Al Nahyan’s efforts in strengthening global economic ties for the milestone.

Aside from this, the Federal Tax Authority has called on tax registrants to update their records to avoid penalties, taking advantage of a grace period ending on March 31, 2025. The FTA warned that failure to update information that requires amendments could lead to administrative fines.

Meanwhile, the UAE plans to triple its food production by 2030, according to CBRE Middle East. The country is investing in agricultural technology and trade agreements to enhance food security and expand opportunities in the food production sector.

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

THE LONGER READ:

A flurry of fintech, retail, and super-app firms are likely to hit the IPO market this year

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