
UAE visa changes; Saudi approves riyal symbol; Dubai rent rules; Mona Kattan leaves Huda Beauty – 10 things you missed this week
UAE visa updates, the introduction of a symbol for the Saudi riyal, Dubai real estate successes and more stories hit the headlines this week.
Catch up with the biggest stories this week, as selected by Arabian Business editors.
Saudi Arabia approves riyal symbol
Saudi Arabia has officially approved a symbol to represent the riyal currency unit.
Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud has approved the Saudi riyal symbol in a historic move that will reinforce the Saudi currency's identity, said the Saudi Central Bank (SAMA). SAMA Governor Ayman Al Sayari extended his profound appreciation to King Salman and Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister, for launching the Saudi riyal symbol.
Al Sayari noted that this decision reinforces Saudi Arabia's financial identity locally, regionally, and internationally. He indicated that the implementation of the new symbol will be gradual for financial and commercial transactions, with coordination across all relevant entities.
Starting February 13, 2025, Indian citizens holding ordinary passports and valid visas, residence permits, or Green Cards from the following new countries will be granted visas upon arrival at all UAE entry points.
The new countries are Singapore, Japan, South Korea, Australia, New Zealand and Canada.
The UAE grants residence visa to family members of an expat, provided they meet certain requirements.
Dubai real estate: 90-day notice required for rent increases, says DLD
The Dubai Land Department (DLD) has revealed that landlords must notify tenants 90 days before contract expiration for any rent increases, which must be validated by the new Smart Rental Index.
The Smart Rental Index determines rent adjustments through analysis of contract values within buildings, area averages, and building classifications.
If landlords fail to provide the 90-day notice, increases cannot be implemented, regardless of the index's findings, the Dubai Media Office (DMO) said in a statement.
UAE law changes: New rules on marriage, divorce, child custody – All you need to know
The UAE will implement its most significant personal status law reform in decades this April, introducing fundamental changes to marriage consent, custody rights, and divorce procedures that could affect thousands of families across the country.
The Federal Personal Status Law No. 41 of 2024, taking effect April 15, marks several watershed changes, including the adoption of the Gregorian calendar for legal proceedings and a complete overhaul of custody age limits.
A significant change allows wives to seek divorce if husbands abstain from marital relations for over six months without valid justification, regardless of whether the husband swore to abstain, according to Asma Siddiqui, senior associate at BSA Law.
NEOM has announced plans to unveil the first phase of THE LINE, with the Hidden Marina development leading the initiative, its Chief Development Officer Denis Hickey revealed during his address at the PIF Private Sector Forum in Riyadh.
The Hidden Marina will extend 2.5 kilometres and reach 500 metres in height, consisting of three connected modules designed to house more than 200,000 residents.
The development will include 21 million square metres of built-up area, surpassing the Burj Khalifa's 350,000 square metres in Dubai, the report said, citing Hickey.
The forecast follows Dubai's performance in 2024, which saw prime residential capital values rise by 6.8 per cent and rental values surge by 23.5 per cent.
'Dubai's prime residential sector continues to thrive, with demand outpacing supply in some of the city's most sought-after communities. The strong rental market performance, coupled with capital appreciation, makes Dubai an increasingly attractive destination for global investors. We expect 2025 to bring further momentum, with high-value transactions and new ultra-luxury developments reshaping the city's real estate landscape,' Andrew Cummings, Head of Residential Agency at Savills Middle East said.
Giant 500m Dubai hotel and branded real estate project to have 'world's highest outdoor pool'
A new 500m-plus Dubai hotel and branded real estate development will open in 2030 with the 'world's highest outdoor pool'.
Corinthia Hotels and Dubai General Properties announced their partnership on the landmark hotel and residential development. The skyline-defining structure will comprise a traditional hotel and branded residences concept.
Set within a two-tower structure on Sheikh Zayed Road near the Museum of the Future, the development will rise to more than 500m and rank among the world's tallest buildings.
Mona Kattan leaves Huda Beauty
Mona Kattan is departing from Huda Beauty to lead KAYALI as an independent fragrance brand, the company announced on Monday.
The fragrance brand KAYALI, founded jointly by sisters Huda and Mona Kattan in 2018, will now operate as a standalone company following Huda Beauty's decision to sell its ownership stake.
Mona, widely known as the 'Perfume Princess' and the creative force behind KAYALI's rapid growth, will partner with global growth equity firm General Atlantic to jointly own the brand. She will continue her role as KAYALI CEO.
Demand for ultra-luxury homes in Dubai, including those in prime and waterfront locations, made a major bounce back during the first month of 2025, with wealthy buyers seen lapping up multi-million housing and land assets, industry players said.
The scale and nature of transactions in January are also seen as a major shift in investor behaviour, with luxury real estate increasingly seen as a core asset class, besides a broader reflection of sustained liquidity in the high-end property market.
Anticipation of a price rise on the cards due to supply constraints in prime locations and the rising migration of global high-net-worth individuals (HNWIs) to Dubai also drove demand for high-end properties in sought-after city neighbourhoods, they said.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Al Etihad
4 hours ago
- Al Etihad
Dubai's second tokenised apartment sells out in under two minutes
11 June 2025 22:14 ISIDORA CIRIC (ABU DHABI)The UAE's second tokenised property listing fully sold out in one minute and 58 seconds on Wednesday, confirming the country's growing appetite for digital real estate ownership. The apartment, listed on PRYPCO Mint, drew in 149 investors from 35 nationalities and pushed the platform's waitlist to more than 10, on June 11, the one-bedroom apartment in Dubai's upscale Kensington Waters, Mohammed Bin Rashid City, was listed at Dh1.5 million, below its estimated market value of Dh1.875 million. The discounted price gave investors an immediate equity advantage, with shares available for as little as Dh2, launch is part of a broader Real Estate Tokenisation Initiative by the Dubai Land Department (DLD), aimed at making property ownership quicker and more traditional real estate investment, tokenised property allows buyers to own digital shares in a physical property. The concept is simple: instead of buying an entire apartment, investors purchase fractional shares - represented as digital tokens - linked to a real, registered property in Dubai. These shares are issued on blockchain infrastructure and represent a portion of the underlying asset, which can then be bought, sold, or model lowers the barrier to entry and opens up the property market to a more diverse group of investors, including first-time buyers and tech-savvy millennials. Currently, the platform is available to UAE residents holding valid Emirates IDs, though it is expected to open access to international investors in future transactions on the PRYPCO Mint platform are carried out in UAE dirhams, with no cryptocurrencies accepted during the pilot phase. Investors receive official Property Token Ownership Certificates issued by the DLD, providing a layer of formal recognition and regulatory Kensington Waters sale follows the success of PRYPCO Mint's debut property, a two-bedroom apartment in Business Bay listed on May 25. Valued at Dh2.4 million - below its DLD valuation of Dh2.89 million - the offering was fully funded in under 24 hours by 224 investors from over 40 countries, with an average contribution of Dh10, a statement preceding the second launch, Amira Sajwani, Founder and CEO of PRYPCO, said the strong uptake is proof of a growing appetite for alternative real estate models."The incredible response to our first tokenised property proved that investors are ready for a smarter, more accessible way to invest in real estate. With our second property, we're continuing to break down traditional barriers and offer high-quality opportunities to a broader, more diverse audience," he said on Tuesday. Behind the scenes, the initiative is supported by the Virtual Assets Regulatory Authority (VARA), the UAE Central Bank and the Dubai Future Foundation. It operates under the Real Estate Sandbox, a framework designed to enable innovators to test their products, services, and business models under adaptive regulatory supervision. Zand Bank serves as the official banking partner, while blockchain infrastructure is managed by Ctrl Alt, using the XRP Ledger.


Gulf Today
6 hours ago
- Gulf Today
Pakistan hikes defence budget 20%, but overall spending is cut
Pakistan Tuesday hiked defence spending by 20% following last month's deadly conflict with India. The government of Prime Minister Shehbaz Sharif announced the increase as part of the budget for the fiscal year 2025-26, in which overall spending will be cut by 7% to 17.57 trillion rupees ($62 billion). Pakistan and India were pushed to the brink of war earlier this year after a gun massacre of tourists in Indian-controlled Kashmir, marking the biggest breakdown in relations between them since 2019. Weeks of tension followed, culminating in missile and drone strikes that resulted in dozens of fatalities on both sides of the border. Finance Minister Muhammad Aurangzeb said the government was allocating 2.55 trillion rupees ($9 billion) for defense compared with 2.12 trillion rupees in the previous budget. India in February increased its defense spending by 9.5%. Sharif told the Cabinet: "All economic indicators are satisfactory. After defeating India in a conventional war, now we have to go beyond it in the economic field as well.' Opposition members of the National Assembly verbally abused Aurangzeb, chanting slogans, throwing scrunched-up copies of the budget at him, whistling, and banging their desks as he gave his address. The coming year's defense allocation is considerably more than the government's expenditure on higher education, agricultural development, and mitigating climate-related risks, to which Pakistan is especially prone. Associated Press


Sharjah 24
7 hours ago
- Sharjah 24
Sharjah opens door to baseball championships
During the meeting, both sides explored avenues of cooperation to promote the sport and organise championships, in light of its significant popularity among Asian communities. The initiative also aims to add a new promotional platform for Sharjah, enhancing its regional and international presence through sports. A Global Brand with Regional Aspirations Baseball United was founded in November 2022 and supports 20 globally renowned teams, including the New York Yankees, Los Angeles Dodgers, and Boston Red Sox. As a recognised international brand, its championships attract millions of viewers around the world—in Asia, the United States, Canada, Japan, and Latin America. The organisation is now on its way to launching the first professional league involving teams from the Gulf Cooperation Council (GCC) countries and the Indian subcontinent. Foundations for the Game in Sharjah During the meeting, discussions were held on establishing a dedicated headquarters for the sport and developing baseball fields as a foundation for spreading the game. Plans include organising local competitions and hosting international championships in the future. The two sides also explored initiatives to launch youth academies and school programmes to scout talent, as well as leveraging the global league platform to market Sharjah as a sports, tourism, and educational destination for baseball. Sharjah's Competitive Edge Following the meeting, His Excellency Issa Hilal Al Hazami emphasised that Sharjah possesses the right environment to promote baseball, especially considering its popularity among Asian communities. He pointed out that the sport shares many similarities with cricket—a game that already holds a distinguished position in the Emirate, thanks to its large fan base and the iconic Sharjah Stadium, which hosts international championships. He stressed that incorporating baseball and participating in the Asian league would ensure guaranteed promotion and significant exposure for the emirate. Optimism for a Fruitful Partnership The head of the visiting delegation expressed his gratitude to the Chairman of the Council for the warm welcome and the positive outcomes of the meeting. He also conveyed his optimism about the anticipated collaboration between the two sides and the transformative impact this partnership could have on the sport both locally and internationally.