UAE petrol price hikes, a royal baby and more weather warnings were in the news this week.
As the UAE continued to recover from the severe disruption caused by unstable weather last month, there were downpours again with schools and offices closed and travel delays in Dubai.
Meanwhile a royal baby announcement, petrol price changes and senior management changes at one of the largest real estate developers in Dubai made headlines.
Dubai transport changes revealed a major airport move and new bus and taxi lanes in the city.
Also this week, real estate analysts highlighted the rise of British investors in Dubai and record transactions in the opening months of the year.
Catch up with 10 of the biggest stories of the week as selected by Arabian Business editors.
UAE announces petrol price hike for May 2024
The UAE has announced that fuel prices for May has increased.
While the prices of gasoline and diesel have fluctuated over the last 12 months, they are presently not as high as they were during the same period last year.
From May 1 the cost of filling up vehicles in the UAE will be:
- Super 98 – AED3.34 a litre from AED3.15 in April
- Special 95 – AED3.22 a litre from AED3.03 in April
- Diesel – AED3.07 a litre from AED3.09 in April
- E-Plus – AED3.15 a litre from AED2.96 in April
EXCLUSIVE: Senior Nakheel management depart after Group CEO’s resignation
Arabian Business understands that three senior executives have recently departed. The executives worked across a variety of the company’s functions including commercial, assets, and legal.
Previously, Arabian Business revealed that Naaman Atallah has resigned from his position at Nakheel. It is understood that he made the decision to step down as the Group CEO of Nakheel and Meydan after the integration with Dubai Holding.
UAE weather warnings: Severe rain leads to remote work, home school and travel disruption
The UAE felt the impact of heavy rain again as severe weather led to remote working for public and private sectors, distance learning at schools in Dubai and travel disruption at Dubai International Airport.
The Joint Weather and Tropical Assessment Team took steps to minimise negative impact of heavy rain in the country. The National Emergency Crisis and Disaster Management Authority (NCEMA) led the meeting, which included representatives from the UAE Ministry of Interior (MoI) and the National Centre for Meteorology (NCM) and other competent government departments.
Dubai Ruler Sheikh Mohammed approves $35bn expansion of Al Maktoum International Airport
The additions will cost AED128 billion ($34.8 billion approximately), and the new airport will be five times larger than Dubai International Airport (DXB) and aims to eventually handle 260 million passengers annually.
After completion, all operations will transfer from Dubai International to Al Maktoum International, a statement from the Office of Sheikh Mohammed bin Rashid Al Maktoum said.
Dubai real estate: British investors overtake Indians, Russians in record numbers as they flock to UAE for Golden Visas, tax-free luxury living
Data from leading Dubai property agencies shows an unprecedented surge in transactions from UK nationals over the past year, outpacing traditionally dominant buyer groups like Indians and Russians. This surge underscores the UAE’s rising appeal as an investment hub for British buyers amid economic uncertainties at home.
According to Paul Kelly, Operations Director at Allsopp & Allsopp Group, transactions from UK customers soared 43 percent in Q1 2024 compared to the same period last year, and 27 percent over the last 12 months.
UAE Royal Baby: Sheikha Mahra and Sheikh Mana announce birth of baby girl
Sheikha Mahra, daughter of Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai shared the joyous news in a message on social media.
The new addition to the royal family has been named Sheikha Mahra bint Mana bin Mohammed Al Maktoum said the announcement.
Emirates jobs: Dubai airline woos pilots with new increased salaries, career progression and benefits including villas, free schooling and 42-day holidays
To recognise World Pilots’ Day, on April 26, Emirates shone the spotlight on its own aviator roles by announcing significant and exciting changes to recruitment, including higher salaries, new roles, and a radical change to eligibility. Emirates is welcoming First Officers who are non-type rated – which essentially means those who have experience only on turbo prop or jets.
Pilots enjoy chauffeur-driven transport to and from work, laundry services, 42-days annual leave and enjoy concessional cargo and discounted travel benefits for their family and friends.
Dubai announces major 2024 AI plan: New commercial licence, investment incubator launched, AI CEOs at every government entity
A new blueprint will see the city launch an incubator for investment, create AI CEO roles at all government entities and introduce a commercial licence for businesses in the sector.
Dubai will also host an AI Week for education establishments as the emerging sector boosts plans to hit AED100bn ($27.2bn) economy targets.
Dubai real estate: Property market shatters records with over 30,000 transactions in Q1 2024
This staggering figure marks a 20 percent increase compared to the same period in 2023, cementing Q1 2024 as the most active quarter on record for the emirate’s property sector.
The removal of the UAE from the FATF Grey List has played a pivotal role in fueling the current bull market, which shows no signs of slowing down, the Betterhomes Q1 2024 Residential Market Report said.
Dubai’s RTA announces dedicated lanes for buses, taxis
The streets included in the project are Sheikh Sabah Al Ahmad Al Jaber Al Sabah, 2nd of December, Al Satwa, Al Nahda, Omar bin Al Khattab, and Naif Streets.
This initiative is part of Dubai’s efforts to expand its network of dedicated bus lanes, which is expected to reach a total length of 20.1 kilometres upon completion between 2025 and 2027, the Dubai Media Office said in a statement.
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