Dubai’s real estate sector dominated the headlines this week, fueled by a series of remarkable developments and insightful analyses. Among the most talked-about stories was the announcement of a new 725-meter-tall skyscraper set to rise along Sheikh Zayed Road. This ambitious project promises to redefine the city’s skyline and push the envelope of architectural innovation.
In addition to the skyscraper news, experts weighed in on the city’s burgeoning million-dollar property market, highlighting the significant increase in high-value transactions. August was particularly noteworthy, with property sales surging to AED47.3 billion ($12.9 billion)—a striking 40.8% increase compared to the same month last year. According to fäm Properties, the number of transactions reached 16,159, marking a 36.9% rise in volume year-over-year. Furthermore, the average price per square foot climbed to AED1,493 ($407), reflecting a 6.1% uptick.
Beyond real estate, Dubai also saw substantial updates in other sectors. A major rebranding effort for a busy Metro station was unveiled. Situated on the Red Line between Mall of the Emirates and Dubai Internet City Metro Stations, this strategic location on Sheikh Zayed Road is poised to enhance connectivity and urban mobility.
In education, the Knowledge and Human Development Authority (KHDA) provided an update on its efforts to elevate Dubai’s educational standards. Aisha Miran, the KHDA Director General, reiterated the Authority’s dedication to ensuring top-tier education across the city’s private schools. She highlighted the importance of regular school inspections and noted that three schools were closed at the end of the 2023-2024 academic year for failing to meet quality benchmarks. This underscores the KHDA’s unwavering commitment to student welfare and educational excellence.
Additionally, Arabian Business showcased 100 of the region’s most inspirational figures—leaders whose business prowess and innovative spirit are driving change and setting new standards across various industries.
In regional economic news, significant updates were provided on Oman’s job market, and there was a forward-looking analysis regarding the potential for a recession in 2025.