Hello reader,

In today’s newsletter:

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

Saudi Arabia's Jeddah Tower, set to become the world’s tallest building at 1 kilometre, is expected to attract significant international and domestic investment. Industry experts view the project, scheduled for completion in 2028, as a milestone that will strengthen Saudi Arabia’s position in the global real estate market. The tower is planned to exceed the Burj Khalifa by 180 metres.

Meanwhile, the kingdom's General Directorate of Passports has announced updates to ID and visa regulations. Dependents of residents and domestic workers located outside Saudi Arabia can now renew resident IDs remotely. Additionally, residents abroad can extend single or multiple exit and re-entry visas.

On the real estate front, Dubai’s residential property sales reached AED232 billion in H2 2024, reflecting a 31 percent year-on-year increase, according to Espace Real Estate. Off-plan sales dominated, rising by 74 percent to AED127 billion, while secondary market transactions grew by 15 percent to AED105 billion.

In addition, Dubai’s real estate market recorded transactions surpassing AED500 billion from November 2023 to November 2024, according to dubizzle. Growth has been driven by government initiatives, including revised property visas and expanded freehold areas, as noted by dubizzle’s CEO Haider Ali Khan.

In other news, the UAE has added 19 individuals and entities to its Local Terrorist List under Resolution No. (1) of 2025. The additions include 11 individuals and eight organisations linked to the Muslim Brotherhood. This action reflects the UAE’s continued efforts to counter terrorism financing and disrupt related networks.

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

THE LONGER READ:

A closer look shows that Musk’s upcoming role in government was no coincidence – it was years in the making

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