On Monday, Arabian Business covered some of the most happening stories in the region, which included Dubai’s Nakheel calling off all events due to ‘current global situation’, Dubai signing a new bus network advertising deal and more.
Here are five trending stories you missed yesterday.
Saudi Arabia announces Esports World Cup amid $13.3bn gaming push
Saudi Arabia will host the 2024 Esports World Cup as it looks to become a global hub in gaming sector and create a $13.3bn economy in the Kingdom.
Prince Mohammed bin Salman bin Abdulaziz, Crown Prince and Prime Minister of Saudi Arabia, has announced the launch of the Esports World Cup, which will be held annually in Riyadh starting with the summer of 2024.
The largest global event of its kind, the competition will provide a platform that supports the gaming and esports sector and enhances the Kingdom’s position as a hub for international esports and sports competitions.
New GCC unified tourist visa to launch in 2024-2025, says UAE Minister
Abdullah bin Touq Al Marri, the Minister of Economy, announced that the tourism ministers of the Gulf Cooperation Council (GCC) countries have given their approval for a unified Gulf tourist visa, Emirates News Agency (WAM) reported.
This decision was reached during their seventh meeting held in the Sultanate of Oman.
Speaking to WAM, Al Marri stated that the next steps involve discussions regarding the implementation procedures for this visa.
Dubai’s Nakheel calls off all events due to ‘current global situation’
In an email shared with residents, Nakheel has announced the “important decision” to cancel all events and activities within the community until further notice.
Nakheel cited the “current global situation and the impact of this on the global community,” for the cancellation.
“We understand many of you look forward to these community events and we appreciate your support on this decision. Our thoughts are with those affected by the recent events, and we stand in solidarity with them during these challenging times,” Nakheel said, adding “we regret any inconvenience that these cancellations may cause and we thank you for your understanding given these extraordinary circumstances.”
Dubai real estate: Rents in prime areas fell over 20% in third quarter of 2023
Dubai’s prime residential communities have seen a rent decrease of an average of 21 percent in the third quarter of 2023, according to a new report by Allsopp & Allsopp.
The report suggests that the rental market saw an increase in rental transactions during the summer this year, with Allsopp & Allsopp reporting a 20 percent increase in rental transactions, as well as a 29 percent rise in new rental client registrations from July to September.
Dubai signs bus network advertising deal
Dubai’s Roads and Transport Authority (RTA) has signed an agreement with Sky Blue Media granting exclusive rights to manage outdoor advertising on the former’s public bus fleet and related facilities for five years.
Under the agreement, Sky Blue Media will manage the planning, design, operation, and marketing of advertising spaces across all the RTA’s public bus facilities in Dubai over five years.
It highlights the RTA’s commitment to boosting its strategic ties with the private sector and offering lucrative investment opportunities for businesses, enabling them to market and advertise via the RTA’s assets.
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