10 Things You Missed This Week in Dubai: From Real Estate Booms to Top Schools
Stay updated with the latest happenings in Dubai! From the booming real estate market to the announcement of the best schools and new petrol prices, here are the top 10 news stories you might have missed this week.
1. Real Estate Boom: USD2.6 Billion Investment
A major new player has entered Dubai’s real estate market with a pipeline of AED2.6 billion. QUBE Development aims to deliver 2.3 million square feet of new inventory by 2025, focusing on sustainable, high-quality communities.
2. Dubai South Real Estate Growth
Dubai South continues to attract significant investment, with Unique Properties reporting AED20 billion in sales. The area’s development is fueled by the $35 billion expansion of Al Maktoum International Airport, which aims to become the world’s largest airport.
3. Palm Jumeirah vs Downtown Spain: Real Estate Comparison
With $1 million to spend, investors are comparing real estate options in Palm Jumeirah and Downtown Spain. Both areas offer luxurious properties, but Palm Jumeirah is known for its waterfront residences and exclusivity, while Downtown Spain boasts iconic landmarks like Burj Khalifa and the Dubai Mall.
4. Business Setup Benefits in the UAE
The UAE continues to attract entrepreneurs with incentives like Golden visas, zero income tax, 100% ownership, and no minimum capital requirements. The country’s business-friendly environment has boosted its global rankings in business and investment attractiveness.
5. Dubai’s Best Schools Revealed
The Knowledge and Human Development Authority (KHDA) has announced the results of its latest inspections, revealing 23 private schools in Dubai have received the top ‘Outstanding’ rating. This highlights the high quality of education available in the city, ensuring diverse curricula and fostering environments that support both academic excellence and holistic development.
6. New UAE Petrol Prices for July 2024
Motorists in the UAE can expect new petrol prices to be announced soon. After a significant drop in June, the first decrease of the year, July’s prices are eagerly anticipated. This follows a trend of rising prices since January, with fluctuations in diesel costs.
7. $8.2 Billion Rain Drainage Plan
Dubai has approved a massive $8.2 billion rainwater drainage network project. The new system, named ‘Tasreef,’ will increase the city’s rainwater drainage capacity by 700%, enhancing its readiness to face future climate challenges and serving Dubai’s needs for the next century.
8. Weather Forecast: Rain, Fog, and Dust
The UAE is set to experience a range of weather conditions this week, including extreme heat, rain, fog, and winds of up to 40 km/h. The National Centre of Meteorology forecasts the likelihood of rain over the weekend, alongside seasonal humidity and dust storms.
9. Dubai Islamic Bank Resolves Platform Issues
Dubai Islamic Bank has resolved issues that arose after transitioning to a new banking platform. Despite initial disruptions, the bank is working to ensure customers receive their delayed salaries and improve service quality through ‘The Temenos Banking Cloud’ platform.
10. World’s Best Airlines 2024
Qatar Airways has been named the World’s Best Airline at the 2024 World Airline Awards, with Emirates, Etihad, and Saudia also making it to the top 20. The awards, known as the “Oscars of the aviation industry,” celebrate excellence in airline service and customer satisfaction.
