Hello reader,

In today’s newsletter:

Here are the most recent developments from Arabian Business, covering various stories with significant implications for the region's progress.

If you missed them over the weekend, our editorial team has selected these stories to ensure you stay informed about news from Saturday and Sunday:

The Dubai property market smashed through numerous records in 2023, cementing its status as one of the world’s most robust and attractive residential investment destinations.

These records in the real estate sector made a significant impact in Dubai's real gross domestic product (GDP) as it rose by 3.3 percent in the first nine months of 2023, Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince and Chairman of The Executive Council of Dubai said via an X post.

In another feat, Dubai's Roads and Transport Authority (RTA) announced the completion of a series of traffic projects across 14 sites in Dubai in 2023. This will further reduce travel times by up to 50 percent at some locations and boost vehicular capacity on various roads by as much as 25 percent, the authority said.

Coming to Saudi Arabia, the kingdom‘s Ministry of Human Resources and Social Development, in collaboration with the Ministry of Municipal and Rural Affairs and Housing, has declared the decision to Saudize 25 percent of engineering professions in the private sector, effective from July 21, 2024.

As for megaprojects in the kingdom, the Board of Directors of Qiddiya Investment Company (QIC) has unveiled the design for the new multi-use Saudi Arabia Prince Mohammed bin Salman stadium in Qiddiya City, Saudi Arabia.

THE LONGER READ:

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