Hello reader,

In today’s newsletter:

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

Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister and Minister of Defence of the UAE, and Chairman of The Executive Council of Dubai, announced the start of construction for Dubai’s first aerial taxi vertiport near Dubai International Airport (DXB). The 3,100 sq mt facility will be designed to manage 42,000 landings and serve up to 170,000 passengers each year.

Dubai’s residential real estate market continues its upward trend, showing a 20 percent year-on-year increase in sale prices and an 18 percent rise in rental prices, according to Cushman & Wakefield Core. The market has now seen 17 consecutive quarters of sales price growth and 15 for rental increases.

On the retail front, Landmark Group Chairwoman Renuka Jagtiani confirmed the company has no plans yet for an initial public offering (IPO). Speaking during a media event marking the company’s 50^th anniversary, Jagtiani stated the group remains private for the time being.

In addition, a survey by consulting firm CXG revealed that more than half of workers in luxury retail in the GCC are considering leaving their roles. With the GCC’s luxury market valued at $12.5bn, employers are encouraged to focus on talent retention.

Moreover, Italian jewellers are increasingly targeting Dubai’s wedding tourism market, responding to local law changes that allow civil marriage licenses for non-Muslim couples within 24 hours. Valerio Soldani of the Italian Trade Agency noted that jewellers are now creating collections tailored to this market.

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

THE LONGER READ:

Crown Prince Mohammed bin Salman also spoke out against Israeli attacks on Lebanon and Iran

Was this newsletter forwarded to you? Subscribe now.

Email Information

You have received this email message from ITP Media Group, the leading media company in the Middle East. Your email address - newsletter@newslettercollector.com - has been recorded because you have subscribed to our newsletter through one of our market-leading websites, to one of our market leading print publications and newsletters or are registered with one of our websites. For more information, visit www.itp.com.

Remove your email address from this mailing list ONLY(Please note, this will not affect any other newsletter subscriptions)

Removal requests may take up to 48 hours to process; you may receive additional mailings during that time. A confirmation email will be sent when your request has been successfully processed.

Is this email in your junk/bulk folder?
To ensure that you receive all future newsletters and emails from us, add newsletters@arabianbusiness.com to your address book.

ITP Media Group, PO Box 500024, UAE