UAE, Qatar, Kuwait and Oman announce Eid holidays; Dubai plastic bag ban; petrol price increased; real estate analysis – 10 things you missed this week

Breaks of varying lengths have been announced with holidays, including weekends, of up to 10 days confirmed in different parts of the region.

Meanwhile the UAE has announced petrol price increases for the month ahead as market fluctuations see changes at the pumps.

Also hitting the headlines this week have been stories on a plastic bag ban in Dubai, an April Fool’s branded residence announcement, a momumental change at Dubai Metro and the unveiling of the names of 50 inspirational women leaders in the region.

Dubai real estate was in focus, with analysis highlighting the reasons behind a surge in demand for villas and a focus on more affordable places to rent properties in the city.

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

UAE, Qatar, Oman and Kuwait announce Eid holiday dates

Countries across the Middle East have announced dates for upcoming Eid Al Fitr holidays.

The United Arab Emirate announced holidays for the public and private sector, while Sharjah announced an extended break for people in the emirate.

Kuwait, Qatar and Oman also revealed dates for Eid Al Fitr holidays in the region.

Dubai announces new plastic bag ban, removes 25 fils charge from June

Dubai Municipality has announced an updated guide providing more details for businesses on the city’s ban on select single-use plastic items, WAM reported.

The ban was introduced in January following a resolution by Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council.

It aims to reduce plastic waste and encourage more sustainable practices.

UAE announces petrol price increase for April 2024, diesel rates fall

The UAE has announced that fuel prices for April will increase further. 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 April 1 the cost of filling up vehicles in the UAE will be:

• Special 95 – AED3.03 a litre from AED2.92 in March
• Super 98 – AED3.15 a litre from AED3.03 in March
• E-Plus – AED2.96 a litre from AED2.85 in March
• Diesel – AED3.09 a litre from AED3.16 in March

Dubai real estate: Emirates announces ultra-luxury branded residences in April Fool’s joke

Dubai’s flagship carrier Emirates Airlines announced plans to build its own branded residences in an April Fool’s joke.

Units in the 380-story building will include premium quality interiors inspired by Emirates’ in-flight experience, the carrier claimed in a post on X.

“The tower will even have its own exclusive airport for residents,” the post stated.

RTA announces new Dubai Metro junction to open April 15 in ‘monumental’ upgrade for passengers

The opening of a new junction for Dubai Metro passengers has been billed as a “monumental” boost for passengers in the city.

The Roads and Transport Authority (RTA), in cooperation with Keolis MHI (the operator of Dubai Metro and Tram), has unveiled an improvement to the timetable of Dubai Metro Red Line Y junction, to eliminate the need for passengers to interchange at Jebel Ali metro station starting April 15, 2024.

This strategic enhancement is a key part of RTA’s commitment to improving trip schedules, punctuality, and operational efficiency, while enhancing the journey experience for public transport users.

Inside The Oasis: Emaar’s new $20bn ultra-luxury, sustainable development in Dubai

Emaar Properties unveiled plans for The Oasis, their newest large-scale mixed-use development covering over 100 million square feet in Dubai.

With an estimated investment of $20 billion, the project will feature over 7,000 luxury residential units primarily comprised of luxury townhouses, villas, mansions, and super-mansions spread across spacious plots, in addition to extensive recreational amenities like parks, jogging trails and water canals occupying 25 percent of the land.

Arabian Business took a closer look at Emaar’s upcoming master community, and here is all you need to know about The Oasis.

Revealed: Arabian Business’ 50 Inspiring Women Leaders 2024

Women business leaders in the Middle East are defying stereotypes and making significant strides in various industries, contributing to the region’s economic growth and fostering gender equality. Despite cultural and societal challenges, these trailblazing women are breaking barriers, inspiring change, and paving the way for future generations of female entrepreneurs.

A prominent example is Lubna Olayan, the Chair of the Executive Committee and Deputy Chair of Olayan Financing Company, one of Saudi Arabia’s largest conglomerates. As the first woman to head a publicly traded company in the kingdom, Olayan has played a pivotal role in driving corporate governance reforms and advocating for women’s participation in the workforce.

Similarly, Renuka Jagtiani, CEO of the Landmark Group, has been a trailblazer in the UAE’s business landscape. Recognised for her leadership and contribution to various sectors including retail, hospitality and philanthropy, she is a vocal advocate of women’s empowerment and entrepreneurship in the region.

Dubai real estate: Lower-income buyers, 41% ROI and younger investors behind surge in demand for villas

The Dubai real estate sector could see an increase in villa sales as younger people and investors on lower salaries take an interest in this sort of home, according to Property Finder analysis.

Data from the online real estate platform revealed that 40 per cent of sales home seekers are looking to buy villas. Out of this 40 per cent, 85 per cent are looking for three bedroom and above villas.

Leading the demand in early 2024 are areas like Dubai Hills Estate, Al Furjan, Arabian Ranches, Palm Jumeirah and Mohammed Bin Rashid City.

Dubai real estate: Top 4 areas with villas for AED100,000 and below in annual rent

For families looking to rent a spacious villa in Dubai without breaking the bank, there are still options available for AED100,000 or less per year.

Based on data from Property Finder’s House Prices calculator and several listings on Bayut, here are four neighbourhoods where three-bedroom villas can be found in this price range.

UK Inheritance Tax set for major shakeup

The UK government recently announced that the current non-domiciled tax status is being abolished from April 2025 in a move that will significantly impact inheritance tax rules.

For over 200 years, inheritance tax liability has been based on a person’s domicile – their permanent home. This allowed non-domiciled residents in the UK to limit their inheritance tax exposure.

However, new rules proposed in the March 2024 budget will switch inheritance tax to being based on residence rather than domicile.