AB Espresso: World ’s tallest residential tower in Dubai

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In today’s newsletter:

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

The latest quarterly report released by real estate portal Bayut has revealed a list of the most popular areas with the highest returns on investment. Throughout the first quarter of this year, Dubai recorded almost 37,000 property sale transactions worth a staggering AED109.6 billion, reflecting high investor confidence in the city. Due to high demand, sales prices for apartments and villas in the city’s most prominent neighbourhoods saw modest surges reaching up to 7 percent.

In other real estate news, Six Senses, in collaboration with Dubai real estate developer Select Group, has announced the launch of their latest project, Six Senses Residences Dubai Marina. The 122-story development will stand at 517 meters tall, making it the world’s tallest residential tower on completion.

Meanwhile, the UAE has officially approved the country’s first vertiport as it takes a further step towards flying taxis. The General Civil Aviation Authority (GCAA) has officially granted operational approval for the country’s inaugural vertiport, which debuts at the DRIFTx event in Abu Dhabi.

Aside from this, the UAE is also set to announce the new petrol prices for May in the coming days. Petrol prices across the country saw a slight increase In April, as costs for motorists increased for three consecutive months. Prices have fluctuated in the past 12 months, with prices going up and down.

In Saudi Arabia, hospitality company Marriott International has signed an agreement with NEOM to bring its ultra-luxury brand Ritz-Carlton Reserve to the mountain region of Trojena in north west Saudi Arabia. The 60-villa resort will be only the second Ritz-Carlton Reserve property in the Kingdom and the seventh in its exclusive collection worldwide.

THE LONGER READ:

As Saudi Arabia enters its ninth year of implementing Vision 2030, the achievements made so far serve as a solid foundation for continued progress and transformation

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