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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 Thursday:

Dubai’s Roads and Transport Authority (RTA) has carried out three traffic improvements on Sheikh Zayed Road to increase capacity and efficiency. The upgrades are part of RTA’s strategic plans to enhance the road network and mobility systems, ensuring smoother traffic flow in key areas. The measures aim to support the emirate’s urban expansion and rising transport demands.

Meanwhile, Dubai Holding Asset Management has announced that Nad Al Sheba Mall will open in April 2025. The 500,000sq ft retail destination is located in the heart of Nad Al Sheba and will be part of the group’s extensive portfolio, which includes 15 destinations, 10 malls, and 18 centres. The mall is expected to serve residents in the surrounding areas and contribute to Dubai’s growing retail sector.

On the real estate front, a 21,000sq ft penthouse on the 108^th floor of Burj Khalifa has been listed for $51 million (AED187.3 million). Marketed as “Sky Palace,” the unit is being offered as a shell property, allowing buyers to customise the interior. The listing comes as Dubai’s ultra-luxury real estate market continues to attract interest from high-net-worth investors, with demand for exclusive properties driving record-breaking prices.

In addition, Dubai’s off-plan property sector helped push residential prices up by 18 percent between October and December 2024, according to CBRE Middle East’s latest market report. The real estate sector showed overall positive performance across residential, commercial, hospitality, retail, and industrial segments. Strong demand and new project launches have contributed to rising property values, with Dubai maintaining its position as a key real estate investment hub.

Aside from this, Chinese AI startup DeepSeek has developed an artificial intelligence model that rivals leading Western systems at a significantly lower cost. The launch has impacted Western tech stocks and raised concerns about the effectiveness of US export controls on advanced technology to China. The development comes as global competition in AI intensifies, with China and the US vying for leadership in the sector.

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

THE LONGER READ:

Salesforce, ServiceNow, Adobe, AMD and Intel are among the companies the region’s nimble-footed investors are now betting on

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