From Petrofac’s accelerated restructuring to Dubai’s 22 million sq ft Auto Market launch, the region delivered seismic shifts across energy, property and industry. The UAE and Saudi Arabia also unveiled bold new initiatives — from instant digital visas to global-scale aviation and housing investments.
Catch up on 10 of the biggest stories this week as selected by Arabian Business editors.
EXCLUSIVE: Petrofac layoffs begin as loss of 2GW project accelerates restructuring
Petrofac has begun issuing immediate termination notices and releasing employees from their notice periods after the loss of a major 2GW offshore wind contract pushed the group into administration, according to internal communications seen by Arabian Business.
An internal email sent to several staff this week says the company has undergone “significant business changes” and that affected employees will not be required to serve the remainder of their notice periods. The communication states their last working day is effective immediately. Multiple employees received similar notices, according to people familiar with the matter.
Petrofac told Arabian Business that project delivery in the UAE “continues as normal,” and said it is focused on “preserving value, operational capability and ongoing delivery across the Group’s operating and trading entities while options are being advanced to underpin their long-term future.”
UAE announces 2025 National Day holiday for private sector
The Ministry of Human Resources and Emiratisation (MoHRE) announced that Monday and Tuesday, December 1 and 2, will be an official paid holiday for all employees in the private sector across the UAE to mark the 54th Eid Al Etihad.
The Ministry issued a circular announcing the holiday, in line with the Cabinet’s decision regarding approved official holidays for the government and private sectors.
UAE Salary Guide 2026: The fastest-growing sectors, top-paying jobs, and skills employers want most
The UAE enters 2026 as one of the world’s most dynamic employment markets — a magnet for global talent and a launchpad for next-generation industries.
Dubai and Abu Dhabi continue to attract record foreign investment while redefining what ambitious professionals can expect from a career in the Middle East. From wealth management to artificial intelligence, the country now ranks among the world’s most competitive destinations for skilled specialists.
The UAE Salary Guide 2026 uses Michael Page research and provides a sector-by-sector analysis of pay trends, in-demand skills and hiring outlooks across 17 industries, offering professionals and employers a clear, data-driven view of where opportunities are expanding fastest and what to expect in the year ahead.
UAE start-up launches world’s first AI real estate brokerage platform
Developed within the framework of the National Strategy for Artificial Intelligence 2031, AIR is a homegrown innovation built entirely in Dubai’s digital ecosystem. The platform aims to transform property transactions by combining human insight with advanced AI to create simpler, faster and more transparent real estate experiences.
“No human can monitor every listing, price movement, and buyer signal across the entire city, but AIR can, instantly,” said Milad Monshipour, Founder and CEO of AIR. “Our mission is to become the most trusted advisor in the country, in the region, and soon globally – transforming how people buy and sell properties, making it fundamentally simpler, smarter, and more trustworthy through human-centred AI.”
Dubai unveils mega 22m sq ft Auto Market with 1,500 showrooms to reshape global car trade
Developed by DP World, the new market is designed to become the world’s most advanced automotive hub, aligned with Dubai’s ambition to strengthen its role as a global leader in trade, logistics and economic growth under the Dubai Economic Agenda D33.
The market will feature 1,500 showrooms, dedicated workshop zones, warehouses, multi-storey parking, a convention centre, hotel, auction house and extensive F&B and retail areas. Once fully operational, it will handle more than 800,000 vehicles annually.
Aldar launches Yas Riva Residences
Located along the island’s northern coast, next to the sold-out Yas Riva villa community, the development features six mid-rise buildings with 950 apartments ranging from studios to three-bedroom homes.
Each residence offers spacious layouts, premium finishes and private balconies with panoramic canal, sea and island views.
UAE’s Arada secures ‘biggest London property deal this decade’ with acquisition of $3.3bn Thameside West site
Sharjah-based Arada has acquired a 47-acre waterfront mixed-use development site located in London’s Royal Docks, in what the master developer’s group CEO has described as the largest property transaction in the UK capital for at least five years.
With a total gross development value of $3.3bn and master-planned by Foster + Partners, Thameside West is set to deliver at least 5,000 homes, with construction on the first 1,000 homes scheduled to begin in 2027.
Saudi firms cut expat salary premiums as hiring slows and priorities shift
Saudi companies are reducing the large salary premiums once used to attract foreign professionals, as part of a broader effort to manage costs and refocus investment priorities under Vision 2030, recruiters told Reuters.
The Kingdom, which is more than halfway through its economic transformation plan, is reining in spending on megaprojects and redirecting resources toward emerging sectors such as artificial intelligence, logistics and mining. The shift comes as public finances tighten and some of the country’s high-profile construction ventures face delays.
Foreign recruits who previously commanded salary offers up to double their existing pay are now seeing far more modest packages, according to recruitment executives.
Dubai secures $3.5bn UK backing for Al Maktoum International expansion
The announcement, made at Dubai Airshow 2025, marks the first international expression of interest of its kind for the mega-project.
Presented during a ceremony at the Dubai South stand, the Expression of Interest was handed over by Sir Chris Bryant, UK Minister for Trade, to Khalifa Al Zaffin, Executive Chairman of Dubai Aviation City Corporation and Dubai Aviation Engineering Projects, and Paul Griffiths, CEO of Dubai Airports.
Saudi Arabia to issue instant tourist visas through new Visa-card-linked system
The Kingdom announced the “Visa by Profile” initiative at the inaugural TOURISE conference to streamline international travel, remove friction for high-value visitors and accelerate visa decision-making through deep digital and regulatory integration.
Developed by the Saudi Tourism Authority in partnership with the Ministry of Foreign Affairs, the Ministry of Interior, and the Ministry of Tourism the system allows qualified travellers to obtain an electronic tourist visa using only their passport details and Visa card information. The platform uses travellers’ credit scores to verify financial solvency, addressing the requirements of destination countries while simplifying approvals for millions of potential visitors.
