UAE visa updates, the introduction of a symbol for the Saudi riyal, Dubai real estate successes and more stories hit the headlines this week.
Catch up with the biggest stories this week, as selected by Arabian Business editors.
Saudi Arabia approves riyal symbol
Saudi Arabia has officially approved a symbol to represent the riyal currency unit.
Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud has approved the Saudi riyal symbol in a historic move that will reinforce the Saudi currency’s identity, said the Saudi Central Bank (SAMA). SAMA Governor Ayman Al Sayari extended his profound appreciation to King Salman and Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister, for launching the Saudi riyal symbol.
Al Sayari noted that this decision reinforces Saudi Arabia’s financial identity locally, regionally, and internationally. He indicated that the implementation of the new symbol will be gradual for financial and commercial transactions, with coordination across all relevant entities.
UAE announces major visa rule change for Indians
Starting February 13, 2025, Indian citizens holding ordinary passports and valid visas, residence permits, or Green Cards from the following new countries will be granted visas upon arrival at all UAE entry points.
The new countries are Singapore, Japan, South Korea, Australia, New Zealand and Canada.
UAE visa: How to sponsor your family members—Everything you need to know
The UAE grants residence visa to family members of an expat, provided they meet certain requirements.
Here is a full guide to know how to sponsor your family members in the UAE on a residence visa.
Dubai real estate: 90-day notice required for rent increases, says DLD
The Smart Rental Index determines rent adjustments through analysis of contract values within buildings, area averages, and building classifications.
If landlords fail to provide the 90-day notice, increases cannot be implemented, regardless of the index’s findings, the Dubai Media Office (DMO) said in a statement.
UAE law changes: New rules on marriage, divorce, child custody – All you need to know
The UAE will implement its most significant personal status law reform in decades this April, introducing fundamental changes to marriage consent, custody rights, and divorce procedures that could affect thousands of families across the country.
The Federal Personal Status Law No. 41 of 2024, taking effect April 15, marks several watershed changes, including the adoption of the Gregorian calendar for legal proceedings and a complete overhaul of custody age limits.
A significant change allows wives to seek divorce if husbands abstain from marital relations for over six months without valid justification, regardless of whether the husband swore to abstain, according to Asma Siddiqui, senior associate at BSA Law.
NEOM announces new Hidden Marina as first phase of THE LINE: Report
NEOM has announced plans to unveil the first phase of THE LINE, with the Hidden Marina development leading the initiative, its Chief Development Officer Denis Hickey revealed during his address at the PIF Private Sector Forum in Riyadh.
The Hidden Marina will extend 2.5 kilometres and reach 500 metres in height, consisting of three connected modules designed to house more than 200,000 residents.
The development will include 21 million square metres of built-up area, surpassing the Burj Khalifa’s 350,000 square metres in Dubai, the report said, citing Hickey.
Dubai real estate leads global rankings as prices continue surge in 2025, outpacing London, Paris, Madrid: Report
The forecast follows Dubai’s performance in 2024, which saw prime residential capital values rise by 6.8 per cent and rental values surge by 23.5 per cent.
“Dubai’s prime residential sector continues to thrive, with demand outpacing supply in some of the city’s most sought-after communities. The strong rental market performance, coupled with capital appreciation, makes Dubai an increasingly attractive destination for global investors. We expect 2025 to bring further momentum, with high-value transactions and new ultra-luxury developments reshaping the city’s real estate landscape,” Andrew Cummings, Head of Residential Agency at Savills Middle East said.
Giant 500m Dubai hotel and branded real estate project to have ‘world’s highest outdoor pool’
Corinthia Hotels and Dubai General Properties announced their partnership on the landmark hotel and residential development. The skyline-defining structure will comprise a traditional hotel and branded residences concept.
Set within a two-tower structure on Sheikh Zayed Road near the Museum of the Future, the development will rise to more than 500m and rank among the world’s tallest buildings.
Mona Kattan leaves Huda Beauty
The fragrance brand KAYALI, founded jointly by sisters Huda and Mona Kattan in 2018, will now operate as a standalone company following Huda Beauty’s decision to sell its ownership stake.
Mona, widely known as the “Perfume Princess” and the creative force behind KAYALI’s rapid growth, will partner with global growth equity firm General Atlantic to jointly own the brand. She will continue her role as KAYALI CEO.
Wealthy buyers race for Dubai ultra-luxury homes amid supply squeeze
The scale and nature of transactions in January are also seen as a major shift in investor behaviour, with luxury real estate increasingly seen as a core asset class, besides a broader reflection of sustained liquidity in the high-end property market.
Anticipation of a price rise on the cards due to supply constraints in prime locations and the rising migration of global high-net-worth individuals (HNWIs) to Dubai also drove demand for high-end properties in sought-after city neighbourhoods, they said.
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