This week brought significant developments across various sectors in the Middle East, particularly focusing on UAE visa changes, the recognition of the Saudi riyal with a new symbol, evolving Dubai rent regulations, and a notable shift in the beauty industry with Mona Kattan’s departure from Huda Beauty. These stories are just a few highlights that illustrate the dynamic changes in the region.
Stay informed with the week’s most crucial updates, curated by the editors at Arabian Business.
Saudi Arabia Approves Riyal Symbol
In a pivotal move that strengthens its national currency, Saudi Arabia has officially adopted a symbol for the riyal. King Salman bin Abdulaziz Al Saud endorsed this decision, which is expected to enhance the identity of the Saudi riyal in financial transactions both locally and internationally.
Ayman Al Sayari, the Governor of the Saudi Central Bank (SAMA), expressed his gratitude to the leadership for this significant change. The introduction of the riyal symbol will roll out gradually, ensuring comprehensive coordination among all relevant entities to facilitate its adoption in commercial practices.
UAE Visa Updates: Expansion for Indian Nationals
The UAE introduced significant enhancements to its visa policies for Indian nationals, expanding the visa-on-arrival program. Indian citizens with valid visas, residence permits, or Green Cards from six new countries—Singapore, Japan, South Korea, Australia, New Zealand, and Canada—will be eligible for visas upon arrival starting February 13, 2025.
This initiative simplifies entry for Indian passport holders and reflects the UAE’s commitment to fostering stronger international relationships.
Dubai Rent Regulations: 90-Day Notice Requirement
The Dubai Land Department (DLD) has announced new regulations concerning rental agreements, mandating landlords to provide a 90-day notice before any rent increases. This notice must occur before the expiration of the existing contract and must comply with the newly introduced Smart Rental Index, which dictates rental adjustments based on market analysis.
Failure to give the required notice will prevent landlords from implementing any rent increases, regardless of data from the Smart Rental Index, ensuring better protection for tenants and promoting a stable rental market.
Mona Kattan Leaves Huda Beauty for KAYALI
Mona Kattan has announced her departure from Huda Beauty to take the reins of KAYALI, which will now function as an independent fragrance brand. Founded in 2018 by Mona and her sister Huda Kattan, KAYALI will continue to thrive under her leadership, especially following the sale of Huda Beauty’s ownership stake in the brand.
Known as the “Perfume Princess,” Mona aims to expand KAYALI with the support of global growth equity firm General Atlantic, reinforcing her commitment as the company’s CEO.
High Demand for Ultra-Luxury Homes in Dubai
In January 2025, Dubai’s real estate market experienced a notable resurgence, particularly in the ultra-luxury segment. Wealthy buyers have shown an increasing appetite for high-end properties, particularly in prime and waterfront locations, reflecting a significant shift in investor behavior.
As supply constraints heighten in desirable neighborhoods, demand is expected to intensify, supported by ongoing liquidity and a trend of high-net-worth individuals relocating to Dubai. This environment positions luxury real estate as a prime asset class, drawing substantial interest from international investors.