Dubai Valce Shristian; Liquor stores in Saudi Arabia report; UAE fuel prices; The Real Estate ‘Golden Triangle’ explained – 10 things to remember this week

Dubai dominates the headlines this week, with a major shift in housing, spending and Ultra-Luxury real estate, while the UAE’s most advanced projects range from casinos to Fintech.

Elsewhere, there were reports of new liquor stores being planned in Saudi Arabia, expected to have UAE fuel price pressures, rental pressures and continued migration to the bill.

Catch up on the 10 biggest news stories this week, as selected by Arabian business editors.

Saudi Arabia to open liquor stores: report

Saudi Arabia will open two new liquor stores serving non-Muslim customers, according to a report by unnamed sources close to the plans.

Alcohol is prohibited in the Kingdom and is not sold in public. In 2024, a liquor store for non-Muslim diplomats was opened in the capital, Riyadh.

According to sources, Reuters reports that there will be two liquor stores in Saudi Arabia:

• The exodus of foreign workers at Aramco in the Eastern Province of Dhahran
• Outlet Eths Diplomats in Jeddah

Why record $ 29bn Dubai 2026 budget can cause migration of global wealth

Dubai and the UAE have rushed to record public spending by 2026, marking a decisive shift in long-term infrastructure development, improved quality of life and economic resilience.

The moves come as global investors and families are increasingly exploring traditional areas that allow for stable, high-growth. In November 2025, the Dubai government announced the largest budget in the city’s history, with revenues of AED107.7bn ($29.3bn) in 2026 and AED99.5bn ($27.1bn) in spending.

Between 45 and 48 percent of the budget will support infrastructure and construction, while about 28 percent is directed to community development including schools, hospitals, housing and public services.

Dubai’s ‘golden triangle’ and subsequent neighbors set for $10.9M + Villa Boom

The Dubai Ultra-Luxury Villa Market has moved to the side of its Post-Covising Cless to be a stable category of property of AED40M + ($ 10,9M +) and new needs of Elite ‘Trophy’ Properties.

The agency reports sharp growth in AED 70m-AED 100M ($19mm-$27M), and resenges melt new sales, as well as the emergence of wealth “traveling wealth” traveling through MBR.

The analysis of properties from Fäm Properties highlights the rapid expansion in Ultrai’s Prime Segment, with AED 70m-AED 100M ($19MM-$27M) Strong increase and resells now constitute a work of AED 40M + ($10.9M +).

UAE casino update: Wynn Al Marjan nears building completion ahead of 2027 opening

WYNN Resorts’ 305-Metler TOWER on Al Marjan Island is approaching the completion of the building structure, expected in November 2025 as the UAE’s first integrated analysis takes shape ahead of its 2027 opening.

In the latest construction update, the tower has reached the 70th floor with sofa deck work in progress where exterior progress continues at a pace with 19,206 panels at 26,247 percent.

Beyond the lower indicators of the Resort, the integrated concrete and steel works are now 97 percent complete with the exterior facades, exterior installation and union installation and lifting and progressing.

UAE fuel prices to change in December 2025

The UAE is set to announce fuel prices for December 2025 this week.

The events of the past month fuel fell across all categories, following a period of stable prices.

Despite prices fluctuating throughout the year, it’s now slightly cheaper to fill up the tank than in previous years, with all categories becoming less expensive than 12 months ago.

Dubai South Properties has announced the launch of South Bay Mall, the first developer and lifestyle destination, ideally located in the heart of the South African region.

The new mall is designed to elevate the daily lives of South Bay residents while serving the wider community. Spanning approximately 200,000sq ft. Across the ground, the first levels and the roof, the South Bay Mall will offer panoramic lagoon views, open air streets and realless integration.

The development will develop 60 retail units, two anchor stores and a premium food hall, as well as extensive outdoor recreation areas.

Dubai’s rental pressures are pushing renters towards ownership as 55% plan to buy

Dubai’s rental market continues to undergo a decisive behavioral change, with tenants increasingly turning to HomeOnishirn as affordable pressures.

According to Betterthomes’ Tuefation Livings report – Based on surveys of 1,439 residents

The acquisition suggests a systemic change in Dubai’s housing regime, with tenants re-evaluating long-term rental practices as annual rents reach AED99,000 ($26,963). The report revealed that 55 percent of tenants now plan to buy a property within the next to three years, up from 25 percent previously.

Lakshmi Mittal, one of Britain’s richest men, is leaving the UK to move to Dubai

British-Indian Lakshmi Narayan Mittal, founder of arcelogrmittal with GBP15.4 billion ($20.17bn) and No. 1 in Encust Kingdom List of Dubai.

The Sunday Times, quoting sources familiar with Mittal’s plan, said the billionaire, who lives in Switzerland for tax purposes, will now spend a lot of money and now has an intention “to develop NAïA Island”. Mittal becomes the latest UK billionaire to move to Dubai.

According to Zinga, Mittal JoinShip Shipping Magnate Magh Fredriksen in Dubai, and the German investor moved to Switzerland in Switzerland, after saying the changes that are not DOM’ Herman Narula and Nik Gtoronsky, the producers of the technology companies are undeniable and rebelled, they raised concerns about the UK tax changes, and moved to Dubai.

He rose up the steps up UAKAE-Out as it was launched nearby, waiting for the full license – GCC official

Revolut is accelerating its UAE construction and hopes to start as soon as it secures a full license, the company’s regional CEO has been told Arabian business.

A UK-based fintech that received approval from the UAE central bank earlier this year. Revolut is now focused on turning that approval into a full license before landing in the Emirates.

“We are not positioned in the UAE yet,” GCC CEO AMBREREEN Musa said in an interview. “We are working closely with the central bank to get our full license. Once that is approved, we will be able to set a timeline.”

Majid al Futumaim, Emirates NBD is a partner in offering securities

Majid Al Futumaim, retail stores, communities, shops and leisure group, signed a memorandum of understanding (Mou) with Emirate NBD, to introduce the leading funds of Emirate NORDSPORTICES.

The agreement marks the first time for Majid Al Futuraim customers, who allow households to apply for financing during the Off-Plan phase – 50 percent of the financing is paid. Buyers can get competitive interest rates and repayment periods of up to 25 years, with eligibility open to both UAE nationals and citizens who meet Emirates NBD loan agreements.

The initiative simplifies the ownership journey by enabling customers to manage outstanding payments through a banking partner, providing clear financial visibility, confidence in planning.