Dubai’s high-end apartment market has changed significantly over the past decade, with flats priced above Dhs10m growing from a small high-end segment into a much larger contributor to residential transaction value.

The Real Estate Reports data covering flat sales from 2016 to 24 June 2026 shows that Dhs10m+ flat transactions increased from 71 deals worth Dhs1.22bn in 2016 to 2,003 deals worth Dhs44.04bn in 2025. In 2026, the segment recorded 726 transactions worth Dhs17.81bn up to 24 June.

The market remains narrow by transaction count, but important by value. In 2025, Dhs10m+ flats represented only 1.21 per cent of all flat transactions in Dubai, but accounted for 13.66 per cent of total flat sales value. In 2026 to date, they represented 1.16 per cent of transactions and 14.45 per cent of value.

The first-half comparison shows a more nuanced picture. Activity in 2026 is below the same period in 2025 by transaction count and total value, but pricing is stronger. Dhs10m+ flat sales fell from 868 transactions in H1 2025 to 726 transactions in 2026 to date, while value declined from Dhs18.88bn to Dhs17.81bn. However, the segment’s share of total flat value increased, and the average price per square foot rose sharply.

Off-plan sales have been the dominant force behind the segment’s growth. In 2016, off-plan Dhs10m+ flat sales stood at Dhs968.6m, representing 79.11 per cent of the segment’s value. By 2025, off-plan value had risen to Dhs35.79bn, or 81.25 per cent of Dhs10m+ flat sales. In 2026 to date, the off-plan share increased further to 83.94 per cent.

This does not mean the ready market disappeared. Ready Dhs10m+ flat sales rose from Dhs255.8m in 2016 to Dhs8.26bn in 2025. But the data shows that the largest part of the value growth has come from off-plan sales, particularly in branded, waterfront, and high-positioning projects.

The geography of the market has also changed. Earlier activity was heavily concentrated in Burj Khalifa and Palm Jumeirah. In 2016, Burj Khalifa accounted for 53.08 per cent of Dhs10m+ flat value, while Palm Jumeirah contributed 25.72 per cent. By 2022, Palm Jumeirah alone represented 66.75 per cent of the segment.

From 2023 onward, the market became more distributed. Palm Jumeirah remained a leading location, but its share fell to 37.33 per cent in 2023, 19.49 per cent in 2024, 16.91 per cent in 2025, and 21.06 per cent in 2026 to date. Other areas, including Business Bay, Burj Khalifa, Dubai Marina, Dubai Water Canal, Jumeirah First, and Jumeirah Second, became more visible at the top end of the apartment market.

The depth of the market also increased above the Dhs10m threshold. The Dhs10m-Dhs20m band remains the largest by transaction count, but higher price bands have become more meaningful. In 2025, Dhs20m-Dhs50m flats accounted for Dhs16.36bn, while Dhs50m+ transactions reached Dhs10.11bn. In 2026 to date, Dhs50m+ flat sales have already reached Dhs5.70bn.

One of the most important shifts is pricing. The average Dhs10m+ flat size fell from 5,517 sq ft in 2016 to 4,202 sq ft in 2026 to date. The median size fell from 5,253 sq ft to 3,230 sq ft. Over the same period, the weighted average price per square foot rose from Dhs3,126 to Dhs5,839.

This shows that growth has not simply been driven by larger apartments. Buyers are paying significantly more per square foot for high-end flats, reflecting stronger project positioning, prime locations, and demand for higher-end residential products.

At the very top of the market, the largest recorded transaction in the dataset was a Dhs550m off-plan sale at Bugatti Residences by Binghatti in Business Bay in December 2025. Other major deals included Dhs500m at Como Residences on Palm Jumeirah in December 2023 and Dhs422m at Aman Residences Dubai in Jumeirah Second in March 2026.

The data points to a market that is deeper, more expensive, and more project-led than it was a decade ago. While 2026 has so far recorded fewer Dhs10m+ flat transactions than the same period in 2025, pricing remains firm, off-plan sales remain resilient, and the segment continues to account for a significant share of Dubai’s total flat transaction value.

The next phase will depend on how selective buyers become as more high-end projects move through the development cycle. For now, Dubai’s Dhs10m+ apartment market is no longer only about isolated trophy penthouses. It is a broader high-value segment shaped by branded projects, prime locations, and sustained demand for luxury vertical living.

The World Bank will phase out its lending to China by 2031 after years of declining loans, reflecting the country’s rise to become the world’s second-largest economy, three sources familiar with the plan said on Tuesday.

The World Bank’s board will review the plan during the week of July 20, although no formal vote is needed, one of the sources said. It was agreed by the World Bank and China as part of its five-year “country partnership framework.”

The change, first reported by the Financial Times, would limit the multilateral development bank’s lending to Beijing to $2 billion between now and 2031, ending it thereafter.

World Bank lending to China has declined steadily, dropping from $2.4bn a year in 2017 to $750m in 2025. China exited eligibility for loans under the World Bank’s International Development Association facility for the poorest countries in 2000. It began contributing to the facility in 2007 and is now the fifth-biggest donor.

“China has made significant development advances over the past several decades,” said one World Bank official familiar with the matter. “Now we are reaching a new phase of our relationship, reflecting that reality.”

The US and other countries have long pushed the World Bank to stop lending to China, given its growing economic power. China’s continued borrowing from the World Bank and other institutions has been an irritant for the Trump administration since its first term.

The World Bank this month agreed to a similar change for Poland, ending development loans to the country after 2031.

A US Treasury spokesperson called the move “a step in the right direction” and said Washington looked forward to other institutions following suit.

“As the second-largest economy in the world, China should not be receiving handouts from multilateral institutions,” the spokesperson said.

A senior US official said China should not be eligible for development funding given the size of its economy, and called for assistance for China from other institutions such as the Asian Development Bank, the International Fund for Agricultural Development and UN agencies to end as well.

China’s finance ministry said on Wednesday that the gradual decline in World Bank loans to China is a natural result of changes in domestic demand and the transformation of cooperation between the two sides, and is in line with international practices.

China will continue to strengthen cooperation with the World Bank in addressing global challenges, the finance ministry said in its statement.

Dubai International (DXB) is preparing for a high-demand summer travel period, with nearly 3 million guests expected to pass through its terminals during the first half of July. The seasonal surge begins on July 2 as residents depart for holiday destinations, marking one of the busiest periods for the airport.

Drawing inspiration from Dubai’s spirit of exploration and global connectivity, the airport’s “I Heart DXB” experience at Terminal 3, Concourse B (near Gates B28), highlights the city’s role as a meeting point for travellers from around the world, reflecting the legacy of explorers such as Ibn Battuta, a WAM report said.

Passenger traffic expected to exceed 200,000 daily

The busiest day is forecast for July 12, when passenger numbers are expected to surpass 225,000. During the peak period, daily traffic is projected to consistently exceed 200,000 guests.

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Transfer passengers are expected to represent around 50 per cent of total travellers, reinforcing Dubai’s position as one of the world’s leading international aviation hubs.

Interactive experience connects travellers with Dubai

Through the I Heart DXB installation, departing and transit passengers can upload a selfie to become part of a growing digital portrait of Dubai displayed in the colours of the UAE flag.

The installation continues to expand with every traveller passing through DXB, while a handwritten message wall captures personal notes of appreciation and memories, adding a human element to the airport experience.

The initiative also offers participating passengers access to rewards at selected airport retailers, including souvenirs and exclusive offers.

Saudi Arabia’s Ministry of Human Resources and Social Development has extended the grace period for employers to rectify the status of expatriate workers with expired work permits until the end of 2026.

The extension applies to workers whose permits have been expired for more than 12 months, allowing businesses additional time to complete the required legal procedures and ensure compliance with labor regulations.

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The revised timeline also covers workers who were not issued work permits within six months of joining an establishment, according to a report published by Saudi Gazette.

Ministry focuses on market stability and legal compliance

The ministry said the decision is part of its continued efforts to improve adherence to labor laws, safeguard the rights of both employers and employees, and support businesses in completing necessary administrative processes.

“The extension reflects the ministry’s commitment to enhancing compliance across the labor market and providing establishments and workers with sufficient time to regularize their status,” the ministry said.

The move follows positive responses from several establishments and workers that have already taken steps to resolve outstanding work permit issues.

The ministry encouraged employers to renew or issue work permits before the revised deadline, warning that failure to complete the required procedures by the end of 2026 could lead to the implementation of applicable legal measures.

Qiwa rules continue to apply for expired permits

The announcement comes shortly after the Qiwa platform stated that workers with expired work permits would begin being automatically removed from employers’ records starting July 1 if their permits had remained expired for more than three months.

Under Qiwa regulations, employers remain responsible for outstanding financial obligations linked to workers employed without valid permits, even after records are removed from company files.

Qiwa has advised employers to clear pending work permit fees and complete required procedures, including renewals or worker service transfers where applicable, to avoid potential legal consequences and financial penalties.

The UAE’s first passenger rail journey represented more than the launch of a transport service; it marked the beginning of a new phase in national infrastructure development, connectivity and economic mobility.

Drawing parallels with the historic journeys that connected regions and communities centuries ago, including the travels of renowned explorer Ibn Battuta, the inaugural Etihad Rail passenger service created a modern connection between emirates, industries and people.

At the centre of this historic moment was Hamad Mansour Albloushi, who occupied Seat 1, Coach 1 on the first scheduled passenger train service from Fujairah to Abu Dhabi. His journey represented the first step in what is expected to become a significant component of the UAE’s integrated transport network.

Read more-In pictures: First Etihad Rail passenger service arrives in Abu Dhabi from Fujairah

Selected through Etihad Rail’s nationwide campaign to identify “The Passenger Who Represents Us All”, Hamad was recognised for his commitment to community service, healthcare and humanitarian initiatives through organisations including the Emirates Red Crescent and Jusoor Al-Khair.

“When I sat down in Seat 1, Coach 1, it struck me that this wasn’t just my journey, it was the beginning of millions of journeys that will follow. It’s a privilege I’ll never forget,” Hamad Mansour Albloushi said.

“I’ve been nominated because of my contribution to my community, but today I feel like I’m representing everyone who believes in the future of this country. Being the first passenger is an honour beyond words.”

Etihad Rail begins scheduled passenger operations

The UAE’s first national passenger rail service officially commenced operations on 30 June 2026, with Etihad Rail welcoming its first paying passengers onboard the inaugural scheduled service between Fujairah and Abu Dhabi.

The service departed Fujairah Station at 5:34am and arrived at Mohammed Bin Zayed City Station in Abu Dhabi at 7:19am, officially introducing scheduled passenger rail travel in the UAE.

The launch followed significant customer interest, with more than 10,000 tickets purchased ahead of the start of operations.

During the introductory operational phase, six passenger services operated on the first day, providing travellers with a new option for domestic mobility supported by modern passenger-focused facilities.

Passengers onboard experienced a range of services designed to enhance convenience and efficiency, including guaranteed seating, onboard Wi-Fi, power outlets at every seat, generous luggage allowances and Premium Class services.

The introduction of passenger rail forms part of the UAE’s broader infrastructure strategy focused on improving connectivity, supporting economic activity and creating a more integrated transport ecosystem.

Passengers highlight comfort, efficiency and business benefits

The first passengers described the experience as a significant milestone for the UAE, highlighting the efficiency, comfort and ease of travel offered by the new service.

Krishnie Manipalan, travelling with friends, said:

“The whole journey felt easy. From boarding to arriving, everything was designed around the passenger.”

“The biggest surprise wasn’t just how fast it felt, it was also how calm it felt.”

Families travelling on the inaugural service also highlighted the importance of experiencing a historic national moment together.

Rizwana Shoukat Safdari, travelling from Fujairah, said:

“Our children were counting down the days until today. They’ll grow up saying they travelled on the very first day of passenger rail in the UAE, and that’s something really special.”

“Usually travelling with children can be stressful. Today it felt easy. They loved looking out of the windows, and we could simply enjoy the journey together.”

For business travellers, the service introduced a new opportunity to improve productivity and optimise travel time.

Thanfi Kader, who travelled for business, said:

“For business travel, this changes everything. I can work, take calls, prepare for meetings and arrive ready for the day.”

Strategic integration supports UAE mobility vision

Etihad Rail said the passenger network has been developed as part of a wider strategy to create a connected and sustainable transport system.

The company is working with the Integrated Transport Centre (Abu Dhabi Mobility) to ensure passengers can transition efficiently between rail services and other forms of public transport, including buses, taxis and additional mobility solutions.

Azza Alsuwaidi, COO at Etihad Rail, said:

“Every great piece of national infrastructure has two beginnings: the day it is built, and the day people begin making it their own. Today, with the support and guidance of our wise leadership, we embark on that second beginning.”

“The first departure from Fujairah this morning is the moment a national vision becomes part of everyday life, giving people a new way to connect with one another, with opportunity and with the places that make our country so unique.”

“Years from now, today’s passengers will be able to say they were there at the very beginning.”

Dr Abdulla Hamad AlGhfeli, acting director general of the Integrated Transport Centre, said:

“The journey doesn’t end when passengers step off the train. It continues all the way to their final destination.”

“That is why our partnership with Etihad Rail is so important. Together, we have integrated passenger rail with Abu Dhabi’s wider public transport network, making it easier than ever for residents and visitors to continue their journeys using buses, taxis and other mobility services.”

Historic first day establishes foundation for future expansion

By the conclusion of the first day of operations, Etihad Rail had successfully completed six passenger services between Fujairah and Abu Dhabi, with strong demand continuing following the opening of bookings.

Adhraa Almansoori, executive director of Commercial and Support at Etihad Rail Mobility, said:

“Today has always been about our passengers. Watching families gather on station platforms, seeing customers take photographs before boarding and hearing the excitement as the first train departed has reminded all of us why this project matters.”

“Every person who travelled with us today has become part of the story of the UAE’s first national passenger rail service. Years from now, they’ll be able to say they were there at the very beginning, and we’re incredibly proud to have shared that moment with them.”

The launch of Etihad Rail’s passenger operations marks a major milestone in the UAE’s transport landscape, creating a foundation for expanded rail connectivity across the country.

For the passengers who boarded the first train, the journey represented more than a new way to travel. It marked their participation in the beginning of a national infrastructure story that will shape how people, businesses and communities connect in the years ahead.