UAE visas, Saudi holidays, a booming Dubai real estate trend and a recruitment drive at one of the region’s most exciting companies have all made headlines this week.
Saudi Arabia announced plans for its 94th National Day as it looks to celebrate the history and culture of the Kingdom.
At the same time, NEOM – the emerging megadevelopment in Saudi Arabia, has ramped up recruitment as it looks to develop a green hydrogen industry in the country.
The UAE is preparing for new petrol prices and the start of a major visa amnesty over the weekend.
Also in the news this week have been the history of Emirates airline, the science behind cloud-seeding in the UAE, emerging real estate trends and the $10bn vision for the future of Abu Dhabi.
Catch up on 10 of the biggest news stories this week, as selected by Arabian Business editors.
Saudi Arabia announces plans for 2024 National Day holiday
Advisor Turki bin Abdulmohsen Al Al-Shikh, the chairman of the General Entertainment Authority (GEA), announced the theme for this year’s iteration of the national holiday.
The theme “We dream, we achieve,” carried over from last year, highlights the significant projects related to the Saudi Vision 2030 and showcases the Kingdom’s leading role in various fields.
NEOM is hiring: Here’s how to apply for a job
The initiative across its construction and operations phases aims to build a strong team across various functions:
- Corporate
- EHSS
- Risk, Operations and Maintenance
- Finance
- IT and cybersecurity
Cloud-seeding in the UAE: How scientists are increasing rainfall in the country
UAE is advancing cloud-seeding science to increase the chances of rainfall in the country.
In recent years, the UAE Research Program for Rain Enhancement Science (UAEREP) has used core-shell NaCl-TiO2 (CNST) seeding material throughout its cloud-seeding operations, or rather a specific type of hygroscopic material with two main ingredients.
The UAE is currently the only country worldwide using CNST materials in its cloud seeding operations after the UAEREP successfully completed this research endeavour in 2017.
The history of Emirates Airline: From desert sands to global skies
In 1985, a visionary idea took flight, forever changing the world of global aviation. Emirates Airline was born from the ambition of Sheikh Mohammed Bin Rashid Al Maktoum and launched by Sir Maurice Flanagan in five months with $10m seed funding to simply “look good, be good and make money.”
The airline has since grown from a modest beginning to becoming one of the world’s largest and most recognisable airlines. This is the story of how a small operation with just two leased aircraft transformed into a global aviation powerhouse.
In 1984, Sheikh Mohammed bin Rashid Al Maktoum, the then Minister of Defense and member of the royal family asked then Managing Director of Dnata, Maurice Flanagan to look into starting an airline. By December of that year, the idea had a name – Emirates.
UAE visa amnesty 2024: who can apply, fees waived, fines explained, travel ban lifted
The UAE has announced a visa amnesty for people who have overstayed in the country. The grace period will allow people in the UAE, both residents and visitors, to adjust their status without fear of fines or deportation, said the Federal Authority for Identity, Citizenship, Customs and Port Security (ICP).
Visa violators will not be fined and can fees will be waived. Those wishing to leave the country can do so without a travel ban being placed for future returns.
In a statement on social media, the Federal Authority for Identity, Citizenship, Customs and Port Security confirmed the two month grace period will start on September 1 and noted highlights of the campaign, including:
- Six services targeting four groups for status readjustment
- 14-day departure permits
- Waivers of five fines and five fees with an option to leave without a travel ban
- Family members can adjust their status without financial or legal penalties
Dubai real estate developer eyes massive expansion across UAE, beyond
The company, promoted by an Indian-origin group, is also preparing to launch its maiden mixed residential and commercial project in October – an AED400m ($109m) project in Dubai’s Wasl Gate area.
Yogesh Bulchandani, Founder, Sunrise Capital, said: “Currently we are focused on Dubai, but we are certainly looking into UAE expansion and beyond. We would keep expanding on our current investment strategy of having few luxury villas and luxury projects,” he said.
WHOOP CEO defends premium pricing: ‘It’s a coach, not everyone wants a coach in their life’
WHOOP, the high-performance wearable technology company, is standing firm on its premium pricing strategy despite increasing competition in the wearables market.
“Well, I certainly think WHOOP is a premium product. It’s a high-performance product, and WHOOP is a tool, a coach, and not everyone wants a coach in their life,” Ahmed said.
UAE petrol prices to change for September 2024
The UAE is set to announce the new petrol prices for September this week.
Petrol prices across the country increased in August, as costs for motorists went up for all petrol categories as well as diesel.
Since January, petrol prices have increased for Super 98, Special 95 and E-Plus 91, while the cost of diesel has fallen fractionally.
Abu Dhabi betting on a $10bn upgrade to get wealthy expats to move in: Report
The Guggenheim Museum, set to be 12 times larger than its New York counterpart, and other cultural landmarks like the Zayed National Museum are part of a $10 billion initiative to enhance the city’s cultural appeal.
The massive translucent cones sliding down the sides of the Guggenheim Museum in Abu Dhabi are finally visible to passersby whizzing through the city’s highway.
Dubai real estate sector sees boom in short-term rentals as investors report 20% higher returns over traditional leases; best areas revealed
Industry experts claim that the trend is revolutionising the region’s real estate scene, offering remarkable returns for savvy property owners, and attractive accommodation options to visitors.
Myles Rothwell, Managing Director at Edwards and Towers, said: “Over the past year, we have seen short-term rentals in Dubai surge, with a 30 per cent increase in bookings due to rising tourism and a demand for flexible living options. This has led to investor returns up to 20 per cent higher than traditional leases. In comparison, long-term rentals offer steady income, maintaining an average annual yield of 7 per cent.”
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