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In today’s newsletter:

UAE residents can look forward to another long holiday in December, as the nation marks its 53^rd National Day. Earlier this year, the UAE Cabinet announced the dates for the public and private sector holidays in 2024. The Cabinet, chaired by Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President, Prime Minister and Ruler of Dubai, approved the 2024 official calendar of holidays in April.

In other major developments, Dubai Mall, one of the largest shopping complexes in the world, has issued new rates for its paid parking system. The new rates will come into effect starting July 1 in collaboration with toll operator Salik. The new system will apply to Grand Parking, Cinema Parking, and Fashion Parking areas, while parking at Zabeel and Fountain Views will remain free. Moreover, the first four hours on weekdays and six hours on weekends will be free of charge for visitors.

Meanwhile, Dubai’s Emirates has gone from a dream to an airline with revenues of more than $37bn a year, said Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai. Despite people betting against the grand transport vision, the airline now has connections with more than 275 cities and Dubai is the “world’s airport” connecting civilisations around the world, he added. Sheikh Mohammed’s comments came as he met with senior officials of Emirates Airline and Group at the Union House in Dubai.

On the real estate front, strategically placed beehives within the premises, small-scale wood farms to cultivate and harvest wood in an environmentally friendly manner and creating natural greenery to improve air quality are among a new set of ‘close-to-nature’ features within residential projects offered by Dubai developers to woo wealthy but environmentally-conscious buyers, industry insiders said. Besides offering a harmonious coexistence with nature, the innovative initiatives also help resident welfare associations to a steady income stream through the sale of organic honey and timber.

Meanwhile in Saudi Arabia, giga-projects in the kingdom are increasing demand and boosting construction costs in the region, said global professional services company Turner & Townsend. The Middle East’s ambitious giga-projects and state-backed developments are driving construction activity across the region, according to the International Construction Market Survey (ICMS) 2024 report. This rapid investment, paired with inflation falls and economic diversification, continues to attract global talent while also impacting supply chain capacity.

THE LONGER READ:

While private jets offer speed, efficiency, and travel convenience, superyachts provide a sense of luxury, exclusivity, and ease of access

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