AB Espresso: Heavy rains to hit UAE

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8 months ago

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In today’s newsletter:

1 Billion Meals Endowment: UAE plans tallest $218mn charity endowment towerEmarat: State-owned fuel retailer offers naming rights of UAE petrol stations to companies, brands under ‘Project Landmark’ initiativeUAE real estate: Dubai, Abu Dhabi property markets to keep rising in 2024 amid global economic slowdownUAE rain: Thunder and lightning storms expectedDubai Municipality: Authority rolls out new agricultural project

Discover the latest developments covered by our expert editorial team at Arabian Business. Here's what you missed over the weekend:

The UAE has planned its tallest charity endowment tower located in Dubai to sustain the country’s food aid efforts. Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai reviewed plans for the ‘1 Billion Meals Endowment’ tower.

Meanwhile, state-owned fuel retailer Emirates General Petroleum Corporation, known as Emarat, has launched a new initiative called ‘Project Landmark’ to form strategic partnerships with companies. Through Project Landmark, brands and businesses will be able to purchase naming rights for select Emarat service stations.

On the real estate front, the UAE real estate sector is expected to continue its upward trajectory in 2024 despite a softening global outlook, experts at JLL’s recent event ‘Navigating the Growth Spectrum: Exploring Strategies for Sustained Success’ in Dubai. Strong economic fundamentals, government initiatives and rising investor confidence are fueling new opportunities across asset classes in the short to medium term, the company said in a statement.

The nation will experience heavy rain, thunder and lightning, according to weather forecasts. The National Centre of Meteorology (NCM) said that the country is affected by a surface low-pressure system extending from the Southwest, accompanied by a cold air mass from the West in the upper air with a flow of clouds.

In Dubai, the Dubai Municipality has launched a large-scale agricultural beautification project located at the intersection of Al Meydan Road and Al Khail Road, the Dubai Media Office said in a statement on Sunday. Covering over 302,266 square metres, the project aims to install fully automated irrigation systems requiring no human intervention, and more.