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In today’s newsletter:

Dubai experienced an exceptional year in terms of tourism in 2023, as it received an astounding 17.15 million international tourists. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of The Executive Council of Dubai, revealed the latest figures on X.

On the real estate front, Emaar’s new Dubai Square will be one of the world’s most advanced developments, using AI for the design, construction and creating “unique” personalised customer experiences, Emaar founder Mohamed Alabbar told Arabian Business.

Speaking of real estate, Dubai residents can accurately calculate legal rent increases according to RERA guidelines and dispute illegal hikes – here's how.

Meanwhile in Saudi Arabia, the Ministry of Commerce in the kingdom has signed an agreement with VFS Global for new visa application services. As part of this deal, VFS Global will establish a centre within the Ministry of Commerce headquarters in Riyadh, to ensure easy and efficient visa processing for employees, delegates, and subsidiary companies.

The kingdom's Saudi Arabia Railways (SAR) has also signed a contract with Swiss manufacturer Stadler for the supply and maintenance of ten next-generation passenger trains for SAR’s East railway network, alongside the option for SAR to order an additional ten units in the future.

THE LONGER READ:

NEOM, UAE’s mega mixed-development projects, infrastructure advancements, and renewable energy initiatives are attracting substantial FDI and UK to Middle East investment in 2024