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In today’s newsletter:

Discover the latest stories from Arabian Business, compiled by our editorial team. Here's what you missed on Wednesday:

Emaar Properties, one of the UAE’s leading property developers, has unveiled plans for The Valley Phase Two, thus expanding Dubai’s “first true suburb”. This master development since its launch in 2019 has marked a shift in Dubai’s real estate sector, introducing a suburban living concept that aims to combine modern amenities with natural surroundings. The Valley’s new phase spans 200 hectares and will include over 4,500 residential units.

In addition, as Dubai’s real estate market continues to evolve, there are several property offerings in the city for those looking to invest, ranging from off-plan properties to townhouses, apartments, villas and more. The diversity in offerings, combined with Dubai’s several other benefits has made it a safe haven for investors, especially among high-net-worth and ultra-high-net-worth individuals. According to recent market data, investors with a budget of $1 million (AED 3.67 million) can expect significantly different returns depending on which area they choose.

Moreover, Dubai’s real estate sector is set to see a novel initiative, with Seabeats Real Estate, a Dubai-based investor-cum-co-developer of high-end, ultra-luxe residential and hospitality projects, gearing up to launch a comprehensive house health insurance to cover all expenses related to owning and maintaining houses. The proposed house insurance cover, said to be the first such initiative in the UAE, will offer coverage for both the structure of the house as well as the contents inside.

Meanwhile, some UAE travellers are experiencing extended wait times for Schengen visas due to a significant increase in applications fuelled by high demand, industry experts told  Arabian Business. An online survey of 419 respondents revealed that 65 percent (273) failed to secure a Schengen visa appointment this summer, according to a report by SchengenVisaInfo.com. Additionally, 16.9 percent (73) reported waiting for an appointment, while 17.8 percent (75) managed to secure one

In other news, Sofia Sacoor is a Dubai-based 17-year-old entrepreneur making waves in the fashion industry while championing a cause close to her heart. Part of the Sacoor family, renowned for their premium fashion brand Sacoor Brothers in the UAE, she is now carving out her own path in the industry. The founder of the athleisure brand SU1, is not your typical teenage high school student. Balancing the demands of a rigorous International Baccalaureate programme with running a growing business, Sacoor is on a mission to support children with Type 1 Diabetes (T1D) – a condition she lives with daily.

THE LONGER READ:

Russia’s economic performance presents a paradox – growth amid isolation, resilience in the face of sanctions

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