November 2023 | The Dubai Headlines

Millions of “Neomians” will live in this Saudi megacity by 2030.

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According to the project’s head of tourism, millions of people will live in Saudi Arabia’s $500 billion future metropolis, Neom, by 2030.

Arrivals are anticipated to start in 2024.

Within the next ten years, two million “Neomians” should reside in the city, according to Andrew McEvoy, who spoke with The National.

Speaking outside of the Arabian Travel Market, which is presently taking place at Dubai’s World Trade Center, was Mr. McEvoy.

“As our first tourism assets open in 2024, you will see a lot of movement,” Mr. McEvoy stated.

“Work has already begun, and the tourism initiatives will launch at that point.”

Numerous tourist destinations, such as the Trojena mountain destination, will be located in Neom.

It is scheduled to open in 2026 and will feature mountain biking, a ski slope, and watersports facilities. Additionally, an interactive nature reserve will be included.

Neom is intended to be a smart city that runs on renewable energy.

The Wall Street Journal claims that because of previously disclosed plans that included flying taxis, holographic teachers teaching classes, and an artificial moon, it has drawn attention from all over the world.

Neom will be governed independently of the laws governing the rest of Saudi Arabia, according to Mr. McEvoy. This will increase its attractiveness to tourists and those thinking about moving there, he claimed.

Many people find it appealing because it offers the opportunity to virtually start from scratch in the creation of a new nation, he said.

“It’s a great way to get motivated for your career, and the Public Investment Fund will help make it happen.”Neom shall be regarded as a nation inside a nation, possessing its own sovereign territory and economic zone. The laws and regulations must align with the goals of the people we are trying to draw to this area to live and work.

Additionally, he stated that the locals would be referred to as “Neomians” rather than Saudis.

About 2,000 Neomians and 10,000 construction workers already reside there, according to Mr. McEvoy.

“We’re already drawing in a lot of experts in the energy, water, and health sectors who will be relocating here to live and work.”

Selling alcohol is a possibility.

In an effort to draw tourists and business from abroad, he also declined to rule out the sale of alcohol. He declared, “It’s definitely not off the table” to alcohol.

“We must match what competing destinations are offering if we want to be competitive.”

He added that the project is on track to be car-free by 2030.

“There will be a slight period of transition, but the city is being built to be completely car-free,” Mr. McEvoy stated.

Many of the modes of transportation of the future, such as electric hybrids, are already available, and we’re testing concepts like flying taxis.

“This is about supplying the travel of the future.”

An additional key area of emphasis for the project is sustainability. According to Mr. McEvoy, younger people are driving this because they are more committed to halting climate change than previous generations were.

“A new generation of young Saudis is driving this with a strong embrace of a new future, with Neom serving as a beacon of that future,” the statement reads.

entreprenuership

Dubai Taxi Company valued at $1.26bn in oversubscribed offering

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After setting its price at the top of the range, Dubai Taxi Company reported that it raised Dh1.2 billion (roughly $315 million) in its initial public offering.

Following the book building and public subscription process, DTC said in a statement on Wednesday that the final offer price was set at Dh1.85 per share, resulting in an offering size of approximately Dh1.2 billion for a total of 624.75 million shares, or 24.99 percent of the company’s total issued share capital.

The market capitalization of Dubai Taxi Company upon listing is anticipated to be Dh4.6 billion ($1.26 billion) based on the final offer price.

The initial public offering (IPO) price range was previously set at Dh1.80 to Dh1.85 per share.

The donation In addition to local and foreign institutional investors, the IPO attracted “tremendous demand” from UAE retail investors.
The offering received over Dh150 billion ($41 billion) in demand overall, indicating a 130-fold oversubscription level overall. The company stated that this represents the “highest oversubscription level achieved by an IPO on the DFM [Dubai Financial Market]”.

The offering for qualified investors was nearly 135 times oversubscribed.

Mansoor Alfalasi, CEO of Dubai Taxi Company, stated, “The exceptionally strong demand for the IPO, which was 130 times oversubscribed, reflects the high-quality investment opportunity provided by DTC, anchored in Dubai’s robust economic, population, and tourism growth and world-leading mobility and sustainability vision.”

After deducting any offering-related costs, the Department of Finance, acting on behalf of the Dubai government, will receive a total of about Dh1.2 billion in gross proceeds from the IPO, DTC continued.
The Department of Finance will retain ownership of 75.01 percent of DTC’s share capital after the IPO is completed.

Subject to approvals, the offering and listing are anticipated to be completed on December 7.

In order to bring the size of its financial market to Dh3 trillion ($816.8 billion), Dubai announced plans in November 2021 to list ten state-owned companies. In addition, the city planned to establish a Dh2 billion marketmaker fund to encourage the listing of more private companies from industries like energy, logistics, and retail.

Last year, four of the ten state-owned businesses that were announced were listed on the Dubai Financial Market.

The approximately 7,000 cars in the fleet of the 1995-founded Dubai Taxi Company serve the city-state’s expanding population. With a market share of roughly 44%, it is the largest taxi operator in the emirate.

In the first half of this year, approximately 96 million trips were taken on Dubai’s fleet of taxis, of which more than 70% were hybrids.

The IPO’s joint lead managers, Emirates NBD Capital, First Abu Dhabi Bank, and EFG Hermes UAE, have been named.

The Emirates NBD is the primary receiving bank.

Food & Beverages

Top competitive eater shares little-known details about competitive eating, such as “stretch meals” and gulping without chewing.

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Food challenges are best enjoyed in Dubai, according to James Webb, the man who holds the world record for eating 276 chicken wings in less than 12 minutes. He also discusses what it takes to be a “professional eater.”
A tall man with a body builder’s physique is adjusting his well-organized 5-camera setup in the center of Mr. Brisket, located on Palm Jumeirah’s Golden Mile 4. We meet James Webb, the top-ranked competitive eater from Australia who ranks fifth globally, as he prepares for a brisket-eating challenge.

With an impressive resume in competitive eating, Webb presently owns world records for the fastest consumption of 276 chicken wings in 12 minutes and the fastest consumption of 59.5 donuts in an 8-minute display.

Known on social media as “J Webby Can Eat,” Webb is the first Australian to challenge Americans in competitive eating. He also achieved an impressive third place in the Nathan’s Hotdog Eating Contest, which was held in Coney Island, New York City.

In an attempt to pass the time during the pandemic, James began making food videos for entertainment, just like a lot of people all over the world who discovered or revived hobbies. When he was placed under lockdown in Australia, he turned to his passion for cooking and making videos, which quickly gained popularity on the internet, for comfort.
However, his initial encounter with a culinary contest occurred during an accidental lunch excursion to a nearby hamburger restaurant in Australia. A picture of this enormous burger that appeared to have been Photoshopped was hanging on the wall. I had no idea that it was the largest burger in Australia. Inquiring further, the proprietor revealed with pride, “That’s my undefeated Burger Challenge.” It has never been defeated. Fifty-five people have made the attempt and utterly failed.

Competitive eating: what is it?
In the United States, eating competitively is regarded as a sport. Competing eaters, also referred to as professional eaters, eat a lot of food in a short amount of time. These competitions, which are also well-liked in Canada and Japan, are frequently held at festivals or events and draw competitors and spectators from all over the world.

After a few months, Webb made the decision to fully commit to competitive eating and quit his day job. “Well, what’s the worst that can happen? my wife said, even though I wasn’t entirely convinced. You return and land a new position.

Webb took a two-week vacation from his full-time job in sales and marketing to the US, where he not only participated in multiple food challenges but also returned with a professional contract. After becoming the first Australian to earn a spot at Coney Island and the prestigious Nathan’s Hot Dog Eating Contest, Webb came to the realization that he had to carve out a place for himself in this world.

Technology

At re:Invent, AWS introduces new chips, AI capabilities, and improved cloud offerings.

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Experts in cloud computing, clients, and tech enthusiasts have flocked to Las Vegas for the event, which runs through December 1.
In an effort to expand its portfolio and compete with rivals like Microsoft, Oracle, and SAP for market share, Amazon Web Services has announced the development of faster chips, the most recent generative artificial intelligence capabilities to boost productivity, and the general availability of Amazon S3 express one zone, its newest high-performance cloud storage service.

The cloud belongs to all of us. At AWS’s annual re: Invent event in Las Vegas, Nevada, CEO Adam Selipsky stated, “Customers of all sizes, all industries, and from all regions are using AWS cloud.”

Top businesses use the AWS cloud. Our clientele is drawn from a variety of sectors, such as the financial, medical, and automotive industries.
The event runs through December 1st, and cloud computing experts, customers, and tech enthusiasts have converged on Las Vegas.

The lowest latency cloud object storage is now offered by the new Amazon S3 express one zone, and users can scale their storage up or down as needed.

According to Mr. Selipsky, it provides data access speeds up to ten times faster and is up to fifty percent less expensive than the Amazon S3 standard.

With millions of users worldwide, Amazon S3, one of the most well-known cloud storage services, was introduced 17 years ago.

On average, over 100 million requests are made per second, and it can store over 350 trillion objects.
Emerging use cases that call for writing and gaining access to data millions of times per minute, like financial model simulations, interactive analytics, machine learning and AI training, real-time advertising, and media content creation, are well suited for it.

According to James Kirschner, general manager of Amazon S3 at AWS, the goal of Amazon S3 express one zone is to lower request and compute costs while providing the “fastest data access speed for the most latency-sensitive applications and enable customers to make millions of requests per minute for their highly accessed data sets”.

The largest cloud service provider in the world, Amazon, saw strong sales growth in the September quarter.

In the third quarter of the year, its revenue amounted to $23.1 billion, indicating an annual increase of over 12.2 percent.
The company also unveiled AWS Trainium2 and AWS Graviton4, the next generation of AWS-designed chip families. “Advancements in price performance and energy efficiency” are what the new chips are meant to provide for a variety of customer workloads, such as generative AI and machine learning training.

Graviton4 offers 75 percent more memory bandwidth and up to 30 percent better computing performance than Graviton3 processors, which are still in production today.

This is AWS’s fourth chip generation in five years, and according to the company, it’s the “most powerful and energy efficient chip the company has ever built” for a variety of workloads.

In contrast to the first-generation Trainium chips, Trainium2 is intended to provide training at a rate up to four times faster. According to AWS, it can double energy efficiency and train large language models and foundation models in a fraction of the time.

David Brown, vice president of compute and networking at AWS, stated that since silicon is the foundation of every customer workload, it is an essential area for innovation.

“We are able to provide our customers with the most cutting-edge cloud infrastructure by concentrating our chip designs on real workloads that matter to them.”

Speeches, innovation talks, builder labs, workshops, demos, and service announcements are all part of the 12th annual re: Invent event. There are about 50,000 people in attendance in person, and 300,000 people are watching the event online.

New generative AI features have also been announced by AWS for Amazon Connect, the cloud contact center that helps businesses provide better customer experiences at lower costs.

According to AWS, the new features—which are powered by large language models—aim to revolutionize the way businesses offer customer service.

For quicker, more precise customer service, Amazon Q in Connect, for instance, will offer agents suggested answers and actions based on inquiries from customers in real time.

With AI-generated summaries that identify sentiment, trends, and policy compliance, the Amazon Connect contact lens assists in identifying the crucial elements of call center conversations.

An additional feature Contact center managers can quickly develop new chatbots and interactive voice response systems with Amazon Lex by utilizing natural language prompts. By providing answers to frequently asked questions, it could enhance current systems.

Pasquale DeMaio, vice president of Amazon Connect at AWS applications, stated that the contact center sector is set to be “fundamentally transformed by generative AI,” providing customer care representatives with new avenues to provide personalized customer experiences.

“Yet, very few organizations possess the sophisticated machine learning know-how to quickly and effectively integrate this technology into their daily operations.”

Additionally, the business unveiled Amazon Q, a brand-new generative AI-powered assistant designed to “streamline tasks, speed decision making, and spark creativity, built with rock-solid security and privacy,” according to Mr. Selipsky. Amazon Q is intended to deliver actionable information in real time.

Travel & Explore

In Aseer, Saudi Arabia will build a $347 million entertainment complex.

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As part of the kingdom’s diversification efforts, Saudi Entertainment Ventures (Seven), a wholly owned subsidiary of the Public Investment Fund, has opened a 1.3 billion Saudi riyal ($346.6 million) entertainment destination in the Aseer region.

The development, called Seven Abha, is the company’s fifth project of this kind in the kingdom. It spans 64,000 square meters and has a built-up area of over 79,000 square meters, Seven announced on Sunday.

It is situated halfway between Abha and Khamis Mushait. Gensler, a renowned international architecture firm, designed it, and Modern Building Leaders has been tasked with completing the construction.

According to Seven, the project is expected to generate “hundreds” of direct and indirect jobs in Aseer by 2030, bring in more than five million visitors, and add more than four billion riyals to the country’s GDP.
As per Prince Turki bin Talal bin Abdul Aziz Al Saud, the chairman of the Aseer Development Authority, the Aseer region is “witnessing an unprecedented renaissance across different sectors and verticals”.

“One of the key projects in Aseer that will support our ambition to become a global destination all year round is Seven’s entertainment destination in Abha.”

As part of its Vision 2030 diversification agenda, Saudi Arabia, the largest oil exporter in the world, is changing its economy in an effort to lessen its reliance on oil, support homegrown industries, and create jobs.

A major component of its diversification strategy is tourism, and in an effort to spur industry growth and draw in more capital, the kingdom passed a new tourism law last year.

By 2030, it aims to increase the tourism sector’s economic contribution from 3% to 5% of GDP.

The kingdom is working on several tourism-related projects, such as Qiddiya, a massive entertainment and sports complex in Riyadh, and Neom, a $500 billion futuristic city. On the west coast of Saudi Arabia, the Red Sea Development Company is also constructing a massive tourist complex.

To further aid in the expansion of the kingdom’s tourism industry, the PIF also founded the Saudi Tourism Investment Company, or Asfar, in July.

According to the PIF at the time, the company will make investments in brand-new tourism initiatives and create locations in Saudi Arabian cities that offer lodging, attractions, shopping, and food and drink options.
As part of its mandate to develop the sector, Seven is investing over 50 billion riyals to build 21 entertainment destinations throughout the kingdom.

Fourteen cities—Riyadh, Kharj, Makkah, Jeddah, Taif, Dammam, Khobar, Al Ahsa, Madinah, Yanbu, Abha, Jizan, Buraidah, and Tabuk—are home to the upcoming projects.

Eight attractions total will be available at Seven Abha, including a family-friendly amusement park with rides, arcade games, and virtual reality sections.

It will also feature a 12-hole indoor golf adventure area, a Play-Doh themed entertainment center, and a Discovery Adventures jungle-themed attraction.

Live events will take place at a multipurpose venue. Other features of the project include a 10-lane futuristic bowling concept, indoor e-karting on multilevel tracks, an AMC 10-screen theater, retail stores, and food and beverage options.

For the attractions, Seven has agreements with Cundall, Theme 3, Top Notch, Holofice, Thinkwell, and Sea Quest.

Technology

While preparing for an IPO, Pure Health of the UAE buys PureCS, a Dubai IT company.

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The largest healthcare group in the United Arab Emirates, Pure Health, has expanded its portfolio in anticipation of an IPO in Abu Dhabi next month by acquiring PureCS, a Dubai-based provider of IT services.

In a statement released on Thursday, Pure Health stated that the acquisition of PureCS in its entirety will enable it to leverage cutting-edge technology to improve its services and solutions, which are “underpinned by the importance of the role of AI and technology in the healthcare and consumer sector.”

The National was not given the deal’s value by Pure Health, which is supported by International Holding Company and Alpha Dhabi Holding.

The acquisition, according to Pure Health’s group chief executive and managing director Farhan Malik, “further strengthens our position as we continue to revolutionize the healthcare industry.”

“We are committed to raising the bar for healthcare excellence to further improve patient care not only in the UAE but throughout the world within our international assets, thanks to the additional capabilities of our dedicated tech company within the group.

“Against the backdrop of continual digital advancements, it is imperative that we remain at the forefront, harnessing cutting-edge, digital-first technologies and cloud-based healthcare solutions that provide positive impacts on the lives of individuals and communities.”

The global healthcare sector is utilizing cutting-edge technology in response to consumer demand for more convenient and on-demand services and the global adoption of digital transformation.

According to Grand View Research data, the global digital health market is expected to grow at a compound annual rate of 18.6%, from an estimated $211 billion last year to roughly $826 billion by 2030.

Junaid Khan, Pure Health’s chief technology officer, stated, “This acquisition will enable us to create a comprehensive health tech platform, with a holistic view of IT system requirements, rather than an ecosystem operating in silos.”

Amidst the ongoing IPO momentum in the Emirates, PureHealth this week announced plans to launch an initial public offering next month and list its shares on the Abu Dhabi Securities Exchange.

At the time, Mr. Malik stated that the IPO would “position Abu Dhabi as a front-runner in the global healthcare landscape”. However, the company did not disclose the amount it hopes to raise through the IPO.

Today, Pure Health employs more than 24,000 people and operates a network of more than 25 hospitals, 160 labs, and 100 clinics.

The company made a commitment in June of last year to invest Dh10 billion ($2.7 billion) in UAE product procurement and economic support over the next ten years.

On the other hand, PureCS’s website states that it is involved in cloud services, AI information systems, full end-to-end IT services and supplies, IT management and consulting solutions, and IT systemization.

Food & Beverages

The African Food Show, which took place in Morocco, saw active participation from Food Business Gulf & Middle East magazine.

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The Africa Food Show Morocco (AFS Morocco 2023) is an event that is being held at the Office Des Changes in Casablanca. It started yesterday and will run until November 23, 2023.
M. Matt, the managing editor of Gulf Agriculture and Food Business magazine, who was making their debut as event exhibitors, was pleased with the support and encouraging words they received from industry professionals who stopped by their booth.
He emphasized the importance of AFS Morocco and said that it is the perfect B2B platform for international food and beverage suppliers who want to increase their market share in Africa. These suppliers cover the whole value chain, from farm to refrigerator.

The occasion, which is positioned as “The Right Time & Place,” offers participants a unique chance to expand their export endeavors, discover new markets, and network with multinational corporations. The Africa Food Show offers three days of opportunities for exhibitors and attendees to network, work out partnership agreements, sign agency and distributorship contracts, and create new cooperative procedures and market strategies.

entreprenuership

Adnoc opens the first “high-speed” green hydrogen refueling station in the region.

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Adnoc has established the first “high-speed” green hydrogen pilot refueling station in the area to test a fleet of hydrogen-powered vehicles. Data from the project will be used to evaluate the long-term viability of hydrogen vehicles in the UAE.

The company announced on Friday that the Adnoc Distribution-run facility in Masdar City will use an electrolyser driven by clean grid electricity to create green hydrogen from water.

Musabbeh Al Kaabi, executive director of low carbon solutions and international growth at Adnoc, stated, “We are pleased to launch this unique high-speed green hydrogen refuelling station, which supports the UAE’s National Hydrogen Strategy.”

“Adnoc is still working with national and international businesses to develop cutting-edge technology and low-carbon solutions that can hasten the decarbonization process.”
An international certification body called the International REC Standard will certify the hydrogen supplied to the pilot station as coming from solar energy, making it “green.”

According to the company, data on the long-term viability of hydrogen vehicles in the UAE will be gathered through this project.

Starting with B2B [business-to-business] clients is the idea here. At the event, Adnoc Distribution CEO Bader Al Lamki told The National, “We are going to start with cars, taxis, and buses.”

“We’re going to collect data, analyze, and comprehend consumer behaviors and operation parameters over the course of three months, and hopefully this becomes a basis for us to even further extend the solution.”

According to Mr. Al Lamki, a second station in Dubai Golf City will open “very soon” and “provide another refuelling point in the emirate of Dubai.”

The Abu Dhabi-based Integrated Transport Center is lending support to the project. The engineering and industrial gases company Linde supplied the refueller.

The hydrogen-powered cars, which are being supplied by Toyota, Al Futtaim Motors, and BMW, will undergo testing by Tawasul and other taxi companies.

Due to its ability to be produced from both conventional and renewable energy sources, hydrogen is predicted to become an increasingly important fuel as economies and industries shift toward a low-carbon future.

There are several colors of hydrogen, such as blue, green, and grey. Green hydrogen is created when water molecules split through an electrolysis process, whereas blue and grey hydrogen are created from natural gas.

Adnoc plans to invest $15 billion in various projects by 2030 in order to meet the objectives of its low-carbon growth strategy.

By 2031, the UAE hopes to produce 1.4 million tons of hydrogen annually, and by 2050, 15 million tons.

“We are happy to be working with Adnoc to pilot hydrogen in the United Arab Emirates. About 20% of the world’s carbon emissions come from transportation at the moment, so in order to reach net zero, we must utilize every technology available, according to Masdar City Chairman Abdulla Balalaa.

Culture & customs

Shaikh Rashid, a royal artist from Bahrain, talks about being inspired by his home country’s natural beauty.

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A multifaceted man, Shaikh Rashid bin Khalifa Al Khalifa is a member of the Bahraini royal family. He is an artist, art collector, chairman of the Bahrain Arts Society, chairman of the National Council of the Arts, and he expertly balances his many responsibilities while still having a passion for travel and family.

The septuagenarian, who is acknowledged as one of the best artists in the Arab world, started his artistic career almost fifty years ago. Despite living in an elegant and beautiful environment, his artistic journey was fueled by a nomadic life that he led throughout the world. He started painting landscapes after receiving a scholarship from the Hastings College of Art and Design in Sussex, England. He captured the desolate surroundings of his beloved Bahrain on his canvas.

The start and the voyage “I enjoyed experimenting with color, sketching, and painting more than I did learning any other academic subjects in school,” he states. But the young artist made the most of his time studying in the UK by interacting with other artists and immersing himself in excellent art throughout the nation’s historic museums and art galleries.

Shaikh Rashid says, “I’m basically inspired by my surroundings.” The content of my artwork is primarily influenced by Bahrain’s unique light, colors, and atmosphere. I like to use these elements to create paintings, wall sculptures, and installations that combine my natural surroundings with modern and traditional architecture.

The 80s’ fleeting, figurative oil paintings gradually made way for the 90s’ abstract forms. The artist experimented with a variety of surfaces and materials as a result of this. Aluminum became a popular medium, requiring laborious work that required extraordinary patience and perseverance, first coating its façade with glossy lacquer paint before working on enamel.

Shaikh Rashid says he considers himself lucky to have participated in biennials, fairs, and prestigious group exhibits all over the world. ‘First Light’ at Heydar Aliyev Centre, Baku, Azerbaijan (2023); ‘Tesselate’, Mario Mauroner Gallery, Vienna, Austria (2021); ‘Rashid Al Khalifa’, Opera Gallery, Dubai, UAE (2021); ‘Transverse Wave’, me Collectors Room, Berlin, Germany (2019); ‘Penumbra’, Saatchi Gallery, London (2018); Moscow Biennale, Moscow, Russia (2019); ‘Contemporary Istanbul’, Istanbul, Turkey (2019, 2021); ‘SCOPE’, Miami Beach, Miami, USA (2021); Art Brussels (2022); Art Geneve (2023); among others.

Shaikh Rashid and a few other artist friends started an arts club in Bahrain thanks to the support of friends and family. Thus, the Bahrain Arts Society was established, and it now serves as the engine of a flourishing art ecosystem in the Gulf country. Exhibitions are held for the benefit of the public’s viewing pleasure, promoting both Bahraini and foreign artists who possess talent. A thriving foundation for the creative arts has been established in Bahrain thanks to State sponsorship, stimulating discourse, and international exposure for artists.

Since its founding in 2010, Art Bahrain has supported numerous local, regional, and global cultural initiatives, art exhibitions, and educational programs. Bahrain’s contemporary art scene and its global integration have been greatly influenced by Shaikh Rashid’s vision. He claims that he used to have architectural dreams. Despite never pursuing his passion professionally, he is now actively involved in the Gulf island’s design and architecture scenes. He established the Rashid Al Khalifa (RAK) Art Foundation in 2020, allowing the public and global community access to his private art collection and historic family home. “The foundation’s concept is to provide a venue where people are motivated and inspired to pursue their interests in the arts,” he says.

It’s interesting to note that three carpets made by hand in Azerbaijan are on display at the exhibition. All of these drew inspiration from pieces in the ‘First Light’ exhibition that thoughtfully incorporated Shaikh Rashid’s designs to honor Azerbaijani heritage. Rashid is bridging cultural divides with his provocative artwork in a world of geopolitical unrest.

Shaikha Noor, the eldest daughter of Shaikh Rashid, is carrying on her father’s creative legacy in a uniquely individualistic manner. She is one of the co-founders of Noon by Noor, a luxury fashion brand. It is obvious that creativity is fostered and runs in families.

Travel & Explore

In 2024, OYO plans to build 500 vacation homes in Dubai.

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In order to accommodate the increasing demands of digital nomads looking for flexible accommodations while working remotely, hospitality company OYO plans to add 500 vacation homes in Dubai by 2024, with a focus on Downtown, Business Bay, Jumeriah Village Circle, Arjaan, and Dubai Marina.

The new vacation rentals will be dispersed throughout Dubai, guaranteeing easy access to major commercial areas and popular tourist destinations. It encompasses leisure areas like Downtown and Marina as well as business areas like Business Bay, Jumeriah Village Circle, and Arjaan.

OYO is developing vacation rentals in Dubai, such as luxury apartments with views of the Burj Khalifa in downtown Dubai, as well as canal-front vacation rentals in Business Bay and Dubai Marina. The majority of vacation rentals will have amenities like a fully furnished living room and bedroom, a fully functional kitchen complete with all appliances, a big-screen TV, high-speed internet, and parking.

OYO’s holiday home initiative complements the government’s digital nomad program, which aims to draw foreign visitors seeking extended stays in Dubai. The business already operates a robust network of vacation rentals throughout Dubai.

“We’re excited to announce our ambitious plans to expand our holiday homes offerings in Dubai,” stated Karan Ashok, CEO of OYO UAE. “We want to ensure that digital nomads have access to comfortable, well-equipped spaces that cater to their unique lifestyle and work preferences.”
OYO has improved its technological platform to better meet the needs of visitors and hotel partners. Its redesigned technology products, such as Co-OYO, can now assist hotel partners in creating and implementing their own marketing campaigns to boost occupancy and assist revenue maximization.