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In today’s newsletter:

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

As the Holy month of Ramadan begins, many will be following a rigorous daily schedule of fasting, prayer, worship, and community. Fasts begin at the pre-dawn Suhoor meal and end with Iftar in the evenings. Five regular prayers are performed each day at their designated times. Here is the daily Ramadan timetable with estimated prayer and meal times.

On the real estate front, rental growth in the Dubai property market is expected to moderate in 2024 due to a significant supply of new properties set to hit the market, an expert told  Arabian Business. Swapnil Pillai, Associate Director of Research at Savills Middle East, said over 20,000 new residential units are likely to be completed and handed over in Dubai during 2024. This follows more than 47,000 new unit launches last year.

Meanwhile, Swiss-headquartered luxury hospitality group Aman announced its first Dubai location on Monday, the group’s CEO told Arabian Business. Aman Dubai will feature ultra-premium hospitality offerings in the prime coastal location of Jumeirah 2 which will be the ‘most expensive hotel in Dubai.’

As Dubai continues to cement its position as a preferred hub for business and travel, it is also becoming viewed as the ultimate retirement destination in the region, especially among long-residing expats who are not quite ready to let go of the city’s many luxuries. With cost of living continuing to rise, careful financial planning is crucial for securing one’s golden years. But what is a reasonable target to aim for?

In Saudi Arabia, the kingdom is looking to attract investors to the New Murabba development as it shows off highlights of the megaproject at a leading European real estate exhibition. New Murabba Development Company, a leading urban development destination in Saudi Arabia, is showcasing its transformative vision at the 2024 MIPIM, a prestigious real estate event gathering industry leaders from across the globe taking place at the Palais des Festivals, Cannes, France.

THE LONGER READ:

NEOM will soon be home to some of the world’s most stunning resorts, check out 10 stunning resorts coming to Saudi Arabia

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