Arup named as lead designer for New Murabba Stadium in Riyadh
The initial designs for the sports stadium, located in Riyadh, were released in July 2024. The stadium spans an area of 180,000 square metres (sqm) and has a capacity of over 45,000 seats.
The stadium is scheduled for completion by the end of 2032.
Arup will provide comprehensive services for the stadium including design, advisory, and planning, as well as operational advisory insights.
(Editing by Anoop Menon) (anoop.menon@lseg.com)
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Khaleej Times
4 hours ago
- Khaleej Times
Dubai: Sheikh Mohammed issues new law to regulate contracting sector
Dubai Ruler Sheikh Mohammed bin Rashid Al Maktoum has issued a new law to regulate contracting activities across the emirate, Dubai Media Office confirmed. The legislation aims to unify standards and practices within the contracting sector, laying down a clear framework for classifying contractors based on their expertise, qualifications, and capabilities. The move is designed to enhance transparency, streamline coordination between relevant authorities, and better align the sector with Dubai's rapid urban and economic development. This update follows after Dubai Municipality recently announced a major update to its 'Contractors and Engineering Offices Evaluation System'. The authority introduced a new set of performance standards and indicators aimed at improving quality, transparency, and accountability in the construction sector.
The National
9 hours ago
- The National
Dubai rents to ease after handover of 72,000 homes this year
The handover of more than 72,000 homes this year is expected to stabilise rents in Dubai, reducing pressure on tenants and offering them more choice, according to a new report by property portals Bayut and dubizzle. The market is entering a phase of 'healthy stabilisation', with long-term rents showing more measured shifts and short-term rentals continuing to attract steady demand, the research found. ' Dubai's rental market is starting to stabilise after a period of rapid growth,' said Haider Ali Khan, chief executive of Bayut and Dubizzle Group Mena. 'With over 72,000 new units expected this year, the pressure on rents is slowly starting to ease, offering more breathing room and better choices for tenants.' 'With the rent-versus-buy debate picking up, especially now that prices are levelling out, we're seeing more people take a serious look at home ownership. 'The first-time homebuyer initiative launched by the Dubai Land Department is also nudging renters to consider making that leap, offering access to exclusive units and attractive financing.' Dubai's property market has benefited from government initiatives such as residency permits for retired and remote workers, expansion of the 10-year golden visa programme and overall growth in the UAE's economy on diversification efforts. Under the first-time homebuyer initiative, purchasers will have priority access to new homes from participating developers as well as existing inventory. They will also benefit from discounts or limited-time offers on the price of off-plan units, flexible payment plans and improved mortgage options with better interest rates, faster approval times and reduced fees, according to the DLD. Watch: What is Dubai's first-time home ownership scheme? Apartment rents Affordable apartment rents increased by 7 per cent in the first half of the year, but some units in Bur Dubai and Deira reported decreases of 6.19 per cent, the Bayut-dubizzle report found. Mid-range apartment rentals experienced rises of 1 per cent to 6 per cent in annual rates. Asking rents for luxury apartments decreased between 1 per cent and 5 per cent. However, some units in Dubai Marina and Downtown Dubai reported an increase of up to 3 per cent in annual rent. Bur Dubai, Arjan and Deira are popular for affordable apartment rentals. Jumeirah Village Circle, Business Bay and Jumeirah Lakes Towers are sought-after for mid-tier units, while Dubai Marina, Downtown Dubai and Dubai Creek Harbour maintained their status as prime choices for luxury apartments, the study showed. Villa rents Affordable villa rents surged by up to 9 per cent in some districts. Asking rents for mid-tier villas have generally risen by up to 7 per cent. The exceptions are three and four-bedroom units in Al Furjan, and four and five-bedroom units in JVC, which recorded rent decreases of up to 13 per cent, according to the report. Luxury villa rents surged by up to 53 per cent in the first six months of the year, with five-bedroom units in Dubai Hills Estate reporting the highest rises following the influx of new inventory. 'Continued demand and lack of extensive supply has meant that villa rentals have remained competitive for landlords,' the report said. While Damac Hills 2, Mirdif and Dubai South were preferred for affordable villa rents, Al Furjan, JVC and Arabian Ranches 3 attracted the most tenant interest in the mid-tier segment. Dubai Hills Estate, Damac Hills and Jumeirah were top picks for luxury villa rentals, the report added. A separate report by Springfield Properties showed that apartment rents in Dubai for the second quarter of this year increased to an average of Dh72,090 ($19,629) per annum, up from Dh66,725 in the corresponding period last year. Townhouse rents on average also recorded healthy growth, rising to Dh165,783, while average villa rents increased to Dh263,373, compared to Dh224,879 a year ago, the real estate agency reported. 'The consistent rise in rental values, especially in prime communities, highlights the strong yield potential for property investors in Dubai. With growing tenant demand and attractive rental returns, the market remains a favourable environment for both short- and long-term investment strategies,' the report said.
Arabian Business
11 hours ago
- Arabian Business
Dubai luxury property market hits record high in H1 2025 with 3,731 sales above $2.72m
Dubai's luxury real estate market has delivered its strongest half-year performance on record, with 3,731 properties sold above AED 10m ($2.72m) in H1 2025 — a 62.7 per cent increase compared to the same period in 2024. According to Engel & Völkers Middle East, the city is now outpacing global peers in scale, demand, and long-term investor confidence. The second quarter alone saw 2,388 high-end transactions, the highest ever recorded in a single quarter. Ultra-luxury now represents over 4 per cent of total market volume, up from just 1.1 per cent in 2020 — highlighting a structural shift in demand. Standout transactions in H1 2025 included a AED 425m ($115.7m) mansion sale in Emirates Hills and a AED 300m ($81.7m) beachfront villa on Palm Jumeirah. Engel & Völkers Middle East's performance reflects this surge in premium demand. The brokerage recorded a 48 per cent year-on-year increase in transactions and a 40 per centrise in net commission income (NCI) in the first half of 2025, driven by sustained activity across the luxury and upper mid-market segments. Daniel Hadi, CEO of Engel & Völkers Middle East, said: 'Dubai is no longer simply a hotspot for speculative investors but is now a permanent home for the world's elite. 'With 62 per cent growth in AED10m-plus sales and a growing population of resident millionaires, the luxury segment is no longer a niche, it is central to Dubai's real estate identity. 'From Emirates Hills to Palm Jebel Ali, we're seeing a structural shift in demand from global capital moving here for the long term.' Indian investors led the charge, followed by buyers from Germany, the UK, and Portugal. Additional demand came from Spain, Austria, and the Netherlands. Market-wide Dubai real estate growth highlights in H1 2025 Residential Sales Up 22.7 per cent YoY Transaction volume now six times higher than H1 2020 Off-plan Market 54,742 transactions, up 19.9 per cent Hotspots: JVC, Business Bay, Dubai Residence Complex Secondary Market 38,168 sales, up 26.8 per cent First H1 increase in share in years (41.1 per cent of total volume) Key areas: Dubai Marina, Downtown, MBR City Apartments 71,879 units sold, up 18.2 per cent Represents 79 per cent of all sales and over 50 per cent of total market value Villas 27.6 per cent growth in transactions Total value: AED78.3bn ($21.3bn), up 53.5 per cent Emerging villa hubs: The Oasis, Grand Polo Club, The Valley Townhouses Fastest-growing segment with 13,619 transactions, up 57.4 per cent Total value: AED42bn ($11.4bn), up 64.7 per cent Driven by launches in Damac Islands, Damac Hills 2, and The Valley The surge in ultra-luxury activity is mirrored by Dubai's broader economic trajectory. The emirate is on track to surpass 4m residents this year, its fastest population growth since 2018 (Dubai Statistics Centre). Simultaneously, the UAE is expected to attract 9,800 new millionaires in 2025, more than any other country, reinforcing its status as a premier wealth haven. This ongoing inflow is underpinned by favourable tax conditions, lifestyle advantages, and long-term economic policies aligned with global capital migration trends. Recent initiatives like the First Home Buyer Programme, US–UAE AI Acceleration Framework, and Dubai's top global ranking for entrepreneurship continue to draw global capital and talent. Hadi said: 'With no significant oversupply risks on the horizon and demand surging across every segment, Dubai's residential market is set to remain on an upward trajectory,'
