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Arabian Business
04-07-2025
- Business
- Arabian Business
UAE holiday dates; GCC visa ‘coming soon'; Dubai real estate record; New Saudi law – 10 things you missed this week
From UAE holidays to highways, mortgages to mega-sales — here's what made headlines across the UAE and Gulf this week. Whether you're planning your next day off or tracking the region's real estate boom, we've got you covered. Catch up on 10 of the biggest stories news stories of the week as selected by Arabian Business editors. When is the next 2025 UAE holiday? People in the UAE enjoyed a long weekend break as workers in the public and private sectors were given a holiday to mark Islamic New Year on Friday, June 27. It followed a short time after an extended holiday for Eid Al Adha, earlier in June. There are more official public holidays to come, however, with planned breaks to mark: Prophet Muhammad's (PBUH) birthday UAE National Day Unified visa for UAE, Saudi Arabia, Kuwait, Qatar, Bahrain and Oman launching 'soon' says GCC chief A unified tourism visa for visitors to the UAE, Saudi Arabia, Kuwait, Qatar, Bahrain and Oman will be launched soon, according to GCC Secretary General Jassem Al Budaiwi. In a statement by the GCC Secretariat, Al Budaiwi expressed gratitude to member nations for efforts to realise the unified tourism visa. After it is introduced, non-GCC visitors to the region will be able to move freely between the six nations using a single visa. Once approved, the unified Gulf tourist visa will allow its holders to visit six GCC countries, focusing on attracting and retaining tourists within the region to enhance economic integration. UAE announces petrol prices for July 2025 The UAE has released its petrol prices for July 2025. The prices have increased compared to the rates in June. While prices have remained steady recently, motorists are paying considerably less at the pump compared to the same period last year across all fuel types, even though there were price variations throughout the previous year. From July 1, the cost of filling up vehicles in the UAE has been: E-Plus: AED 2.51 a litre from AED 2.39 in June Special 95: AED 2.58 a litre from AED 2.47 in June Super 98: AED 2.70 a litre from AED 2.58 in June Diesel: AED 2.63 a litre from AED 2.45 in June Dubai slashes travel time on major road from 12 to 3 minutes with new tunnels and bridges Dubai's Roads and Transport Authority (RTA) has launched the Al Safa Street Improvement Project, a major infrastructure upgrade aimed at cutting travel time, enhancing traffic flow, and supporting the Emirate's rapid urban development. The project, extending 1.5km from the junction of Al Safa Street with Sheikh Zayed Road to Al Wasl Street, is designed to accommodate population growth and elevate quality of life across key districts. Once complete, the travel time on Al Safa Street will drop from 12 minutes to just 3 minutes, while road capacity will double from 6,000 to 12,000 vehicles per hour in both directions. UAE announces new mortgage procedures The UAE has announced new mortgage plans to slash bureaucracy and support real estate efficiency. In a move toward seamless government services in the UAE, the Ministry of Energy and Infrastructure (MoEI) held its inaugural Customer Council meeting to overhaul the mortgage release procedure following loan repayment. The initiative—part of the Ministry's Smart Government agenda—brings together federal and local authorities, the Emirates Development Bank, and end-users to pinpoint bottlenecks and co-design a streamlined process. Saudi Arabia's new Social Insurance Law takes effect from today Saudi Arabia's new Social Insurance Law, issued last year on July 2 by a Royal Decree, came into force this Tuesday. The General Organisation for Social Insurance (GOSI) stated that the law applies exclusively to new civil employees joining the public and private sectors, who do not have any prior contribution periods in the current Civil Pension Law or Social Insurance Law. The amended law stipulates a gradual increase in retirement age. There will be no change in the current GOSI subscriber benefits. The organisation stated that the statutory retirement age for individuals affected by the amendments will range between 58 and 65 years. Dubai real estate sales hit record $89bn in H1 2025; best-selling projects and neighbourhoods revealed Dubai's real estate market recorded its highest-ever half-year performance, with 98,603 property sales worth AED326.7bn ($89bn) completed in the first half of 2025, according to the latest update from fäm Properties. The growth was fuelled by a record-breaking Q2, which saw 53,118 transactions worth AED184bn ($50.1bn) — a 25 per cent increase in value compared to the previous peak of AED147.2bn ($39.7bn) in Q4 2024, and 5.39 per cent more transactions than the earlier record of 50,400 deals. Highlights of the analysis include: Plot sales: AED 32.2bn ($8.7bn) from 1,384 deals (up 49 per cent YoY) Villas: 10,019 units sold worth AED66.5bn ($18.1bn) (up 38.3 per cent YoY) Apartments: AED81.6bn ($22.2bn) in sales (up 18.7 per cent YoY) Commercial properties: AED3.6bn ($980m) from 1,252 transactions (up 12.5 per cent YoY) Dubai to welcome 3 new global universities for 2025-26 academic year Dubai is set to welcome three leading international universities for the upcoming academic year as it aims to become a global education hub. Three leading international universities — IIM Ahmedabad (India), American University of Beirut (Lebanon), and Fakeeh College for Medical Sciences (Saudi Arabia) — are set to open branch campuses in Dubai during the 2025-26 academic year, the Knowledge and Human Development Authority (KHDA) confirmed. The move is part of Dubai's wider push to position itself as a top 10 global destination for higher education under the emirate's Education 33 strategy, aligned with the broader Dubai Economic Agenda D33. Dubai South Properties launches new luxury real estate community Hayat Dubai South Properties has launched Hayat, a master-planned community covering 10 million square feet. The development sits in the Golf District at Dubai South, close to Al Maktoum International Airport's current terminal. The development will house approximately 2,500 residential units comprising townhouses, semi-attached and standalone villas, mansions, apartments, and hotel apartments. Dubai suspends 2 engineering firms, announces major upgrade to contractor evaluation system Dubai Municipality has suspended two engineering consultancy offices from licensing any new projects for six months, following violations of professional regulations, licensing terms, and ethical standards. The decision was made by the Committee of Registration and Licensing the Practice of Engineering Consultancy and Contracting and aims to protect the interests of property owners and developers across the emirate. The action is part of the municipality's broader regulatory role, which includes routine field inspections to ensure that engineering consultancies adhere to approved legal and professional standards.
Arabian Business
21-06-2025
- Business
- Arabian Business
GCC tourism spending projected to hit $223.7 bn by 2034
The Statistical Centre for the Cooperation Council for the Arab Countries of the Gulf (GCC-Stat) has released data showing visitor spending in GCC countries is expected to reach $223.7 billion by 2034. The projections indicate that incoming visitor spending will contribute 13.4 percent to total exports by 2034, according to a statement by the Emirates News Agency (WAM), which cited the Centre's latest analysis. GCC visitor spending jumps 28.9% since 2019 to reach $135.5 billion GCC countries have recorded progress across multiple tourism indicators, with international visitor spending reaching $135.5 billion in 2023. This figure represents a 28.9 percent increase compared to spending recorded in 2019. The region has secured the top position in the Middle East and North Africa's 2024 Safety and Security Index. All GCC member states scored above the regional average of 5.86 points on the index, which operates on a scale from 1 to 7 points. GCC countries have also achieved recognition for passport strength, with all six nations ranking among the top performers in the Arab region for passport power. The Centre's data highlights the tourism sector's growing contribution to the GCC economy, with visitor spending showing recovery and growth following the 2019 baseline period.
Travel Daily News
08-05-2025
- Business
- Travel Daily News
Jamaica to review visa facilitation for GCC visitors
Jamaica plans visa facilitation review to boost GCC tourism, tapping into high-spending, long-stay visitors and diversifying source markets. KINGSTON, JAMAICA – In a bid to attract more visitors from the Gulf Cooperation Council (GCC) region, Jamaica's Minister of Tourism, Hon. Edmund Bartlett, has said plans are in train to review visa facilitation. Speaking at a recent press conference at Arabian Travel Market in Dubai, the Minister emphasised the untapped potential of GCC visitors, citing their increasing interest in Caribbean experiences, higher-than-average spending patterns, and tendency toward longer stays. The review will focus on simplifying visa application processes for visitors from the region. 'I have been in discussion with our Ministers of National Security and Foreign Affairs to look at more seamless ways for visa facilitation as we recognise the significant economicpotential of visitors from the GCC region,' said the Minister during the announcement at a press conference at Arabian Travel Market in Dubai. 'By removing unnecessary barriers to travel, we are sending a clear message that our country welcomes GCC visitors with open arms.' Currently, visitors from the United Arab Emirates (UAE) can get a visa on arrival, but changes to this arrangement could increase the numbers from the GCC and generate substantial revenue for Jamaica's tourism sector. 'The GCC is the new frontier for Jamaica as we seek to diversify our source markets. Simplifying this visa arrangement will make it easier for their visitors to seriously consider Jamaica as a vacation option and allow us to tap into this lucrative market,' added Minister of Tourism, Hon Edmund Bartlett. Jamaica saw a 29% increase in visitor arrivals from the GCC in 2024. The UAE led with a 37.3% year-on-year growth, followed by strong performances from Saudi Arabia, Kuwait, and Qatar. 'We are already seeing an uptick in interest from the region, and we are working assiduously with our tour operators and other partners to provide various packages and experiences for visitors from the region,' said Donovan White, Director of Tourism. Minister Bartlett led a small delegation at Arabian Travel Market being held at the Dubai World Trade Centre from April 28 to May 1. It is one of the leading global travel and tourism events, bringing together industry professionals and government representatives from across the world.
