Nexus Group

Rental growth in the Dubai real estate market is projected to ease in 2024 due to a substantial influx of new properties entering the market. Swapnil Pillai, Associate Director of Research at Savills Middle East, indicated that over 20,000 new residential units are anticipated to be completed and handed over in Dubai throughout the year. This follows the launch of more than 47,000 new units the previous year. Pillai further noted that over 50 percent of these new project launches were concentrated in Dubai South East, which is expected to constrain significant price growth across the city.

Sheikh Mohammed bin Rashid Al Maktoum, the Vice President and Prime Minister of the UAE and Ruler of Dubai, has announced that the UAE is set to dispatch its inaugural Emirati astronaut to the Moon. Simultaneously, the nation will contribute to the development of a lunar space station known as the Lunar Gateway, in collaboration with the United States, Canada, Japan, and the European Union as part of a global scientific endeavor. 🌒