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UAE petrol prices; Dubai’s best schools; $8.2bn rain drainage plan; real estate booming; weather forecast – 10 things you missed this week

Outstanding schools in Dubai, UAE petrol prices, a booming real estate market, rain and fog forecasts and more of the top news stories this week

Dubai UAE schools real estate UAE petrol
Outstanding schools in Dubai, UAE petrol prices, a booming real estate market, rain and fog forecasts and more of the top news stories this week

Dubai’s ‘Outstanding’ schools have been revealed as the Knowledge and Human Development Authority (KHDA) revealed the results of inspections in the city.

With 23 private schools in the city being given the top marks it is a sign of the quality of education on offer.

This weekend the UAE will also reveal new petrol prices for July, after prices fell for the first time this year in June.

With more rain and forecast in the UAE this week, news emerged of a new $8.2bn drainage network to prevent future overflow.

In Dubai real estate a major new player entered the property market with a pipeline of AED2.6bn and a development near Al Maktoum International Airport fuelled a AED20bn sales milestone for Unique Properties.

Catch up with 10 of the biggest news stories this week, as selected by Arabian Business editors.

Best schools in Dubai

Best schools in Dubai: Every 2024 ‘Outstanding’ KHDA school revealed

Dubai’s best schools have been revealed, following extensive inspections by the Knowledge and Human Development Authority (KHDA).

Private schools in Dubai are regulated by the KHDA, ensuring they meet high standards of education. The KHDA provides oversight to ensure schools offer diverse curricula and foster environments that support both academic excellence and holistic development. According to a KHDA report there are 220 private schools in the city and 365,572 students. The KHDA inspected 209 schools in its most recent cycle, accounting for the education of 360,420 students in Dubai.

Check out the 23 outstanding schools in Dubai.

uae petrol price

UAE petrol prices to change for July 2024

The UAE is set to announce the new petrol prices for July in the coming days.

Petrol prices across the country tumbled in June, as costs for motorists fell for the first time this year, following four consecutive months of increases.

Since January, petrol prices have increased every month and the cost of diesel has fluctuated, leaving motorists happy with the price reduction in June.

Dubai real estate investments
The AED2.6 billion investment comes as Dubai real estate continues to attract record investment. Image: Shutterstock

Dubai real estate: Major new player enters property market with massive AED2.6bn project pipeline

An international real estate firm is launching a massive AED2.6bn development pipeline across Dubai, with plans to deliver 2.3 million square feet of new inventory in the rapidly growing emirate by the end of 2025.

QUBE Development, which has 30 years of global experience, said in a statement on Tuesday that it will introduce AED2.6bn worth of new real estate projects in Dubai over the next couple of years.

The company aims to capitalise on surging demand in one of the world’s hottest property markets by creating sustainable, high-quality communities with a total gross floor area of 2,291,946 square feet.

Dubai Ruler Sheikh Mohammed approves plans for $8.1bn massive rain drainage project

Dubai Ruler Sheikh Mohammed approves plans for massive $8.2bn rain drainage network

Dubai has approved an integrated project ‘Tasreef’ to develop the emirate’s rainwater drainage network costing AED30bn ($8.2bn).

The project was described as “the largest rainwater collection system in the region” by Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai.

The new network will increase Dubai’s rainwater drainage capacity by 700 percent and “enhance the emirate’s readiness to face future climate challenges” according to Sheikh Mohammed. It will collect over 20 million cubic meters of water per day serving Dubai’s needs “for the next hundred years.”

Al Maktoum International Airport in Dubai South
Al Maktoum International Airport in Dubai South

Dubai South real estate boom, $35bn Al Maktoum Airport expansion fuel Unique Properties’ AED20bn sales milestone

Dubai South, a rapidly developing district near Al Maktoum International Airport, is driving a new wave of real estate growth in the UAE, with agency Unique Properties reporting AED20bn in sales amid surging investor interest.

The 145 square-kilometre integrated ecosystem of Dubai South is attracting both end-users and investors, fuelled by major infrastructure projects and favourable economic policies.

Dubai South’s rise as a real estate hotspot is anchored by the ongoing major $35bn expansion of Al Maktoum International Airport. This project aims to create the world’s largest airport, with a capacity of 260 million passengers, five times that of the current Dubai International Airport.

Dubai Islamic Bank
The bank issued an apology for any inconvenience experienced by its clients. Image: Shutterstock

Dubai Islamic Bank resolves major issues after transitioning services to new platform, customers to receive delayed salaries

Dubai Islamic Bank (DIB) has been working to address issues some customers experienced after upgrades to its banking services.

The bank has recently migrated certain functions to ‘The Temenos Banking Cloud’ platform to enhance the quality of services provided.

However, some disruption was caused to customers despite efforts to minimise the impact.

UAE weather 2
Image used for illustrative purposes only. Image: Canva

UAE weather: Rain, fog, humidity and 40kmph dust gusts this week

The UAE will see a spectrum of weather conditions this week, including extreme heat, rain, fog, humidity and winds of up to 40kmph blowing dust, according to the National Centre of Meteorology.

NCM forecasters have pointed towards the chance of rain at  the weekend and seasonal humidity in the UAE throughout the week.

While the weekend is the likeliest time for rain in the UAE, it could also see fog and mist formation as well as moderate winds blowing dust, said the National Centre of Meteorology.

Palm Jumeirah and Downtown Dubai
With a budget of $1 million, both Palm Jumeirah and Downtown offer compelling real estate opportunities, each with its unique advantages

Palm Jumeirah vs Downtown Dubai: How much real estate can you buy with $1m?

The Dubai property market continues to attract investors from all around the world, offering diverse real estate options including branded residences, skyscrapers, villas and more. With varying developments, Downtown Dubai and Palm Jumeirah rank among the leading neighbourhoods for rentals and purchases.

The man-made island is synonymous with luxury and exclusivity, offering waterfront properties, private beaches, and high-end amenities. The man-made islands holds the record for some of the most expensive property sales in the city.

On the other hand, Downtown Dubai located at the core of the city is home to iconic landmarks such as Burj Khalifa, Dubai Mall and the Dubai Opera. The neighbourhood offers apartments boasting skyline views and the most sought-after Burj Khalifa views.

With a budget of $1 million, here is what you can get in Palm Jumeirah and Downtown Dubai.

UAE flag

13 reasons to set up a business in the UAE: Golden visas, no income tax, 100% ownership, free zones, low tariffs and more

Setting up a business in the UAE is simple, efficient and hassle-free thanks to a number of government initiatives and incentives.

The country is luring and encouraging entrepreneurs with offers such as Golden visas, zero income tax and 100 per cent ownership with no minimum capital requirements.

The UAE has become a top global destination for businesses focusing on innovation, artificial intelligence, and entrepreneurship, as well as for attracting foreign investments, which led to an improvement in its rankings on international indicators related to business and investment attractiveness.

Skytrax world's best airlines
Qatar Airways is named the World’s Best Airline at the 2024 World Airline Awards

World’s best airlines 2024 revealed: Qatar Airways, Emirates, Etihad and Saudia in top 20

Qatar Airways has been voted the World’s Best Airline at the 2024 World Airline Awards, the eighth time that the airline has scooped the Airline of the Year title in the 25-year history of the awards.

The 2024 World Airline Awards were held in a gala ceremony held on Monday, June 24 in London.

Widely regarded as “the Oscars of the aviation industry” the World Airline Awards are independent and impartial with all of the customer survey costs and awards event paid by the organisers, Skytrax.

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