Dubai’s thriving business community is made up of many forward-thinking entrepreneurs, thought leaders and inspirational people.
This week Arabian Business hand-picked 100 people you really need to know in the Emirate. Visionary men and women pioneering futher success and innovation in the city to make up the 2024 Dubai 100.
Elswehere in the city this week, the RTA announced a major new bridge to connect Sheikh Zayed Road to the Dubai Harbour and more details emerged of a MASSIVE new residential, hospitality and retail city under development by Emaar.
In Kuwait further details emerged of family visit visas for expats in the country and a public holiday and four-day weekend was announced.
Also making the headlines this week were a new portal listing all laws in the UAE and a salary guide putting worker pay in the spotlight.
Catch up with the 10 biggest stories this week.
Dubai 100: Meet the 100 people you need to know in the emirate in 2024
Dubai, a thriving global business hub, owes much of its success to visionary and dynamic business leaders who have played instrumental roles in shaping the emirate’s economic landscape. Renowned for their innovation, resilience, and strategic acumen, Dubai’s business leaders are synonymous with a forward-thinking approach that has transformed the city into a dynamic commercial powerhouse.
These leaders have adeptly navigated through challenges, leveraging Dubai’s strategic location, pro-business policies, and world-class infrastructure to foster economic growth. The visionary leadership has not only attracted multinational corporations but has also incubated a vibrant entrepreneurial ecosystem, supporting the rise of startups and diverse business ventures.
Dubai’s business leaders are characterised by their commitment to excellence, fostering a culture of innovation and embracing emerging technologies. Their emphasis on sustainability and corporate social responsibility aligns with global best practices, reflecting a holistic approach to business.
Kuwait introduces new visit visas; expat rules explained and full list of 53 visa-on-arrival countries
In compliance with the instructions of Deputy Prime Minister, Defence Minister and Acting Minister of Interior Sheikh Fahad Yusuf Saud Al-Sabah it has decided to resume the issuance of entry visas under new conditions. The new visas are part of a strategy to stimulate commercial, economic and tourist movements in the country, while taking into account the social aspects.
Certain conditions are required for the issuance of visit visas for expat family members, including minimum salary and proof of return air tickets. The visa is granted to the parents, wife and children of expats workers provided their salary is not less than KD400 ($1,300) and not less than KD800 ($2,600) for other relatives.
UAE salary guide 2024: Employees to see 4.5% pay growth; in-demand skills, high-paying jobs revealed
In its latest salary report, the agency predicts salaries will increase 4.5 per cent on average next year as organisations compete for a limited supply of qualified candidates.
More than half of the companies surveyed by Cooper Fitch said they plan to recruit additional UAE staff in 2024.
Kuwait announces public holiday with 4-day weekend this month
Kuwait has announced a public holiday with a 4-day weekend later this month.
In an official statement on social media accounts the Civil Service Commission announced that there will be a holiday for public sector employees on Sunday, February 25 and Monday, February 26.
The holidays will mark the observance of National Day and Liberation in the country.
Dubai traffic to ease: RTA announces massive new 1,500-metre bridge linking Sheikh Zayed Road, Dubai Harbour
The move is part of the authority’s efforts to enhance the city’s road network infrastructure, and is in line with directives from Sheikh Mohammed bin Rashid Al Maktoum.
Under this agreement, RTA will oversee the construction of a two-lane bridge in each direction spanning 1500 metres, the Dubai Media Office said in a statement on Sunday.
Emaar’s Dubai Square to be world’s “most advanced, AI designed” project, says Alabbar
Speaking after a workshop to put the final touches on the project as construction gets underway, Emaar founder Mohamed Alabbar told Arabian Business: “I don’t think anyone has done anything quite this spectacular. We have not only got some of the most advanced designs you can imagine, but also some never-before-seen aspects for technology and entertainment. We have been doing a very deep study on the shifts in consumer behaviours when it comes tor retailing, and all these learnings are now being implemented.”
According to Emaar, Dubai Square is a residential, hospitality and retail city that will boast 10,000 residential units, over 1,500 hotel rooms and a 7,500 sq m retail district – approximately the size of The Dubai Mall.
LuLu Group IPO: UAE retail giant plans dual $1bn listing on Saudi, Abu Dhabi bourses, says report
Sources familiar with the matter said the conglomerate is considering a dual listing in Riyadh and Abu Dhabi, the report said.
The IPO could take place in the second half of 2024, however, the exact scope of operations included is still to be determined, and is expected to involve LuLu’s core Gulf Cooperation Council business.
UAE laws: 73 new legal rulings in 2023, major new website clarifies all legislation in English and Arabic
The UAE has launched a new online platform to explain and highlight laws in the country.
More than 73 new UAE laws and legislations were introduced in the country last year, as it constantly updates and enhances legislation. New rules last year included laws governing health, sport, pensions, transportation and much more besides.
The new online platform includes federal legislation and laws, alongside their regulatory decisions and executive regulations, in both English and Arabic languages and was introduced following a UAE Cabinet meeting on Monday, February 5.
UAE’s Ras Al Khaimah poised for multi-sector investment boom in 2024
“Ras Al Khaimah has been undergoing a transformative journey, diversifying its economy beyond its traditional stronghold in industries such as ceramics and cement,” said Ramy Jallad, CEO of RAKEZ Group.
The northern emirate is now seeing exponential growth in sectors like tourism, hospitality, trading, e-commerce, real estate, and services. This has been largely driven by the announcement of the upcoming casino in the Wynn Al Marjan Island resort.
Dubai real estate: Rent to remain ‘unchanged’ for villas but apartments to see price hike, expert says
However, apartment rents are likely to experience an upward trend during the same period, he added.
“Villa rents grew 81 percent since the pandemic, now averaging AED 398,700 per annum, the highest average in a decade; apartments stood at AED 82,000 per annum, growing 49 percent in three years, with more room for growth,” he said.
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