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In today’s newsletter:

Discover the latest updates from Arabian Business, where our editorial team covered stories across various topics including real estate, transport, and more. Here's a glimpse of what you missed on Wednesday:

Louvre Abu Dhabi will allow free access for UAE residents to mark International Museum Day. The art museum located on Saadiyat Island will stay open later for visitors this coming May 18. UAE residents will be able to enter free of charge by presenting a photo ID at the ticket desk.

Meanwhile, Dubai’s Roads & Transport Authority (RTA) has completed one kilometre of road widening work on two sections of Al Khail Road. The dual projects aimed to improve traffic flow in the area. The first location saw Al Khail Road widened by over 600 metres at Al Jaddaf. An additional lane was added, extending the road to six lanes total.

On the real estate front, the UAE property market continues to thrive with Dubai and Abu Dhabi both recording sales price and rent increases, according to CBRE Middle East’s Residential Market Review for the first quarter of 2024. Dubai villas saw the sharpest increase in sales prices with average prices climbing more than 22 percent year-on-year.

In addition, real estate developer Barratt London witnesses a surge in investors from the GCC region, specifically in the outer boroughs of London as mortgage rates continue to remain attractive. The surge is attributed to attractive mortgage rates and the weakening British pound against the US dollar, making properties in the UK capital appealing for investors from the GCC region.

In other news, the $3bn UAE to Oman Hafeet Rail network will have 60 bridges, a 2.5km tunnel and be an “architectural and engineering marvel”, says CEO Ahmed Al Musawa Al Hashemi. Hafeet Rail has announced that preparatory work is commencing full speed ahead for the construction of the transformative railway link between the UAE and Oman, during a site visit for key officials and members of the Asyad and Hafeet Rail executive management teams, in addition to project contractors and consultants.

THE LONGER READ:

Google Trends data shows rising curiosity ahead of the upcoming casino in Ras Al Khaimah

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