Across the region, Saudi giga-projects gained momentum with NEOM’s green energy factories and renewed GCC investment in Syria. Meanwhile, UAE petrol prices fell, real estate hit record highs, and global cruise lines adjusted course amid Red Sea tensions.
Catch up with 10 of the biggest stories this week as selected by Arabian Business editors.
UAE petrol prices slashed in November 2025
The UAE has announced cuts to petrol and diesel prices for November 2025.
Petrol prices fell for all categories, following a period of relatively stable prices.
Despite fluctuating prices throughout the year, it is now slightly cheaper to fill up a tank than year ago, with all categories becoming less affordable than they were 12 months ago.
New Mall in Dubai: Sustainable Villa Square to open in 2026
The project integrates energy- and water-saving technologies and advanced waste management systems, supporting the emirate’s green economy goals and reinforcing Dubai’s position as a regional leader in sustainable urban development.
The Villa Square will feature more than 124,000sq ft of built-up area and has been designed to strike a balance between convenience and boutique experiences.
Sheikh Mohammed unveils surreal Dubai Museum of Art that appears to float on water
His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, unveiled plans for Dubai Museum of Art (DUMA), a project to be developed by the Al-Futtaim Group.
Sheikh Mohammed reviewed the museum’s distinctive design by acclaimed Japanese architect Tadao Ando, known for his use of light, spaces and geometry, and the DUMA will be no exception. The five-story building will appear to float on Dubai Creek.
His Highness said: “Culture and art are the soul of a city and a lens through which its progress is seen. They reflect its vision and the depth of its humanitarian mission. The Dubai Museum of Art will be a new beacon for the city, enhancing its arts scene and further strengthening its global cultural status. Dubai has become a destination of choice for creatives from around the world, home to communities and industries working together to accelerate the growth of the creative economy. This new cultural landmark advances our strategic goal to position Dubai as a global hub for creativity and culture, and cements its place on the modern art map”.
EXCLUSIVE: Archer Aviation in advanced talks to bring air taxis to Saudi Arabia
“We’re eyeing the entire GCC… I do think you will see aircraft here in Saudi soon,” Goldstein told Arabian Business on the sidelines of the Future Investment Initiative in Riyadh.
He said Archer has been “talking to Saudi for a long time” and is working with regulators to “set the framework, set the rules, and then ultimately create a pathway for us to launch.”
Aldar to invest $1bn in Abu Dhabi residential, commercial, logistics developments
The projects span residential, commercial and logistics sectors and bring Aldar’s develop-to-hold pipeline to AED17.6bn ($4.8bn).
Jassem Salah Busaibe, Chief Executive Officer of Aldar Investment said: “Our latest investments reflect the strong demand we are seeing for residential rental units, Grade A commercial space, and logistics real estate in Abu Dhabi. The develop-to-hold strategy is a core growth driver for Aldar, enabling us to significantly expand our diverse portfolio of income-generating assets across the UAE while responding to client requirements for professionally managed commercial, residential, logistics, hospitality, retail and education assets.”
Dubai to launch new financial centre powering fintech and digital asset growth
The new centre will focus on trade finance, fintech innovation and digital asset solutions, cementing DMCC’s position as a key global hub connecting traditional and digital finance.
The announcement builds on the recent launch of the DMCC Wealth Hub, which caters to family offices and private capital. Together, these initiatives represent the next phase in DMCC’s transformation from a commodities powerhouse into a diversified financial and technology-driven trade ecosystem.
Syria attracts $28bn in new investments as UAE, Saudi and Qatar drive regional projects
Syria has secured approximately $28bn in new investments during the first half of 2025, with significant participation from companies based in the UAE, Saudi Arabia, and Qatar, according to Syrian President Ahmed Al-Sharaa.
Speaking at a panel discussion during the ninth edition of the Future Investment Initiative (FII) in Riyadh, President Al-Sharaa said major Saudi companies have already launched projects worth $7bn, while leading Qatari firms are investing in Damascus Airport and power generation projects totalling 5,000 megawatts. He described the influx of capital as a sign of renewed regional engagement with Syria, which he said is now positioned as a key pillar of stability in the Middle East.
President Al-Sharaa emphasised that Syria now enjoys strong and constructive relations with the UAE, Saudi Arabia, Qatar, and Türkiye, signalling a new era of economic and diplomatic reintegration. He highlighted that the UAE and Saudi Arabia’s involvement in major projects demonstrates long-term investor confidence, with new partnerships focusing on infrastructure, aviation, and energy — sectors critical to Syria’s post-crisis recovery and growth.
EXCLUSIVE: Global cruise lines steering clear of Saudi ports until late 2027 amid Red Sea tensions – Cruise Saudi CEO
International cruise lines are unlikely to resume regular sailings to Saudi Arabia before the 2027-28 season due to security concerns and vessel repositioning linked to geopolitical tensions in the Red Sea, Cruise Saudi CEO told Arabian Business.
“We’re still sort of affected by the geopolitical situation, and many of the international cruise lines have repositioned their cruise vessels,” Clasen told Arabian Business on the sidelines of the Future Investment Initiative in Riyadh. “There are only very few occasional calls from ships passing by. There’s no seasonal deployment other than our own.”
The chief executive said most global operators had removed the Red Sea and Gulf routes from their itineraries following rising tensions in the region and are not expected to return in the near term.
UAE real estate market surges in Q3 as office occupancy hits 94% and $38bn Dubai sales defy slowdown
Despite limited new supply, the market demonstrated resilience amid rising foreign direct investment, non-oil growth, and record tourism numbers, positioning the UAE as one of the world’s most stable and competitive economies.
CBRE noted that the UAE’s GDP is projected to expand 4.9 per cent in 2025, supported by stronger oil production and a 4.6 per cent non-oil growth rate, while the Purchasing Managers’ Index (PMI) rose to 54.2 in September, signalling sustained expansion and investor confidence. Dubai’s residential sector recorded 56,723 transactions worth AED139.8bn ($38.1bn) in Q3 — up 16 per cent year-on-year. Off-plan sales dominated, accounting for 75 per cent of all deals, while prices rose 12.9 per cent.
OXAGON to start building solar and wind factories in 2026 to create ‘thousands’ of jobs at NEOM, CEO says
Saudi Arabia’s OXAGON, the industrial city within NEOM, will begin construction of large-scale solar and wind manufacturing facilities in 2026, a move CEO Vishal Wanchoo says will create thousands of jobs and mark NEOM’s first wave of large-scale industrial employment.
“If I talk about OXAGON, the reason we’re creating OXAGON is for developing economic growth,” Wanchoo told Arabian Business at the Future Investment Initiative (FII) in Riyadh.
“All the companies that we’re bringing in are job creators. This is really the first kind of, I would say, at-scale job creation in NEOM with what these companies bring.”
