The UAE saw historic rainfall this week as downpours in Dubai, Abu Dhabi and across the country were heavier than at any point in 75 years of recorded data.
The heavy rains led to delays at airports, remote lessons in schools, work-from-home rules for offices and major traffic disruption.
Also this week, Saudi Arabia announced new visa rules for Umrah pilgrims in the Kingdom.
In real estate news, analysts reported a tapering off of investments from Russia as well as an increase in REIT investments
Elsewhere, Emirates NBD launched a premium credit card for wealthy investors, Oman air released its summer schedule for 2024 and the UAE ranked among the world’s best countries to launch a business.
Catch up with 10 of the biggest stories this week, as selected by Arabian Business editors.
Heavy rains in UAE bring Dubai to a standstill
Heavy rainfall caused major disruption in Dubai and across the UAE this week.
An unprecedented downpour saw more rain fall in the UAE than at any point in the past 75 years, with business, transport, airports, schools and the entire country seeing major disruption.
The rain dominated the news for the week, with highlights including:
- UAE rain breaks record as country sees biggest downpour in 75 years
- UAE issues RED ALERT weather warning; flights cancelled, schools closed, offices told to work from home amid safety concerns
- UAE President orders support for families impacted by severe weather, launches study into infrastructure
- Sheikh Hamdan orders Dubai Government to develop emergency rain plan for future UAE storms
- Dubai Airports to limit arrivals for 48 hours, Emirates suspends check-in for transit flights at DXB
- Emaar announces free home repairs for damage caused by Dubai rains
- Dubai rain clean-up operation: How the city got moving again after major emergency response to historic rainfall
- IN PICTURES: UAE heavy rains lash across Dubai, Sharjah, and other emirates
- Dubai schools closed until end of week after heavy rains in the UAE
- Dubai extends work-from-home rules for 2 more days, private sector urged to be flexible after heavy rains in the UAE
Saudi Arabia announces new visa rules
Saudi Arabia has issued rules on Umrah visas for pilgrims visiting the country.
The Ministry of Hajj and Umrah has confirmed that Umrah visas for people visiting from outside the Kingdom will be valid for three months from the date they were issued. Previously, the visas were valid for three months from the date the holder entered into the country.
Changes to visa rules are made in co-ordination with the Ministry of Foreign Affairs and are designed to simplify Hajj preparations. The Ministry of Hajj and Umrah clarified that the final date for Umrah visas will be Dhul Qadah 15 (corresponding to May 15).
UAE Eid Al Adha: Next long holiday likely to begin on June 17
UAE residents will likely celebrate a five-day weekend for the upcoming Eid Al Adha, as it is expected to fall on Monday, June 17. Chairman of the Board of Directors of the Emirates Astronomical Society, Ibrahim Al Jarwan confirmed astronomical calculations show Arafat Day will likely be on Sunday, June 16.
Arafat Day marks the start of Eid Al Adha festivities. The last of the three Tashreeq days is likely to be on Thursday, June 20. Tashreeq days conclude the Hajj season.
The UAE Cabinet has approved four public holidays from June 16 to 19 for Arafat Day and Eid Al Adha.
Dubai real estate attracts global elite as Russians leave for Indonesia, Thailand
Top destinations include Thailand’s resort areas and the Indonesian island of Bali, according to real estate experts, as Russian buyers flock to tropical havens offering sanctuary from the political and economic turmoil back home.
This shift comes amid a decline of Russian investment in Dubai’s luxury property sector over the past six months. “The initial rush of investments from Russian and other former Soviet state nationals has significantly tapered off, as many who intended to invest in Dubai have already done so,” said Lynnette Sacchetto, founder of Dubai-based consulting firm DXB Advisors.
Oman Air announces summer 2024 schedule
Oman Air has unveiled a revised flight schedule for Summer 2024.
As part of the revised schedule the national carrier will fly to around 40 destinations directly from Muscat.
The revised schedule comes after the airline recently announced major changes to its network, including adding and removing destinations as well as changed frequencies. The most common destination for Oman Air flights will be a regular flight to Dubai, as well as domestic flights to Salalah.
Dubai real estate: Investors flock to REITs as property market booms
“Overall interest in REIT investments across the UAE, including Dubai, has been steadily increasing,” said Ahmed Abou El Naga, Head of Institutional Sales, Penthouse.ae – powered by real estate firm Metropolitan Group.
This comes almost 8 years since the UAE government implemented legal and regulatory frameworks to permit investments in REITs.
Emirates NBD announces premium credit card for the rich, offers free golf, beach club and spa access
Emirates NBD has introduced the “Priority Banking Visa Infinite Credit Card”, an offering tailored to meet the exclusive lifestyle needs of its affluent Priority Banking clientele.
The proposition, launched in collaboration with Visa, offers a superior banking experience and enhanced value that matches the specific lifestyle needs of high-net-worth customers maintaining an average balance of AED500,000 ($136,000) and above across deposits and investments.
UAE ranks among the world’s best countries to launch a business in 2024
The analysis by Business Name Generator placed the UAE in third position out of 52 nations analysed, revealing it to be an advantageous location for new companies.
To determine the best places to launch a startup, factors including tax rates, cost of living, WiFi speeds, GDP growth predictions, and happiness scores were assessed.
Dubai exploring major futuristic solar-powered transport system with RAILBUS
Dubai is exploring plans to introduce a futuristic solar-powered transport system in the city.
RAILBUS Inc, a pioneering force in the development of the world’s first 100% solar-powered mass transportation system, has announced a landmark Memorandum of Understanding (MOU) with Dubai’s Roads and Transport Authority (RTA). This strategic partnership marks a significant milestone in the journey towards revolutionising urban mobility and underscores a shared commitment to sustainable transportation solutions.
The MOU between RAILBUS and RTA paves the way for collaboration on developing and deploying innovative, eco-friendly transportation technologies across Dubai. RAILBUS’s solar-powered system represents a transformative approach to public transit, offering a green, efficient, and cost-effective alternative to traditional transportation methods.
UAE heavy rains, thunder, and more: Inside the NCM’s cloud seeding missions
The UAE’s cloud seeding missions have seen tremendous success over the past two decades, positioning it as a leader in the space and one of the first Gulf countries to adopt this technology to increase rainfall and combat water scarcity – especially during the summer months.
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