Real Estate

Prospect Signs Strategic Partnership with Mulk Properties and OBG for The LX

Prospect Signs Strategic Partnership with Mulk Properties and OBG for The LX – A Premium Commercial Development in Arjan, Dubai

  • The LX valued at AED 350 M introduces a new benchmark for boutique offices and curated retail in one of Dubai’s fastest-growing urban enclaves
  • Taps into UAE’s commercial construction industry expected to grow to over AED 183 Billion by 2030

Dubai, UAE – 7 May 2025 – Prospect, a Dubai-based real estate investment and advisory firm has entered into a strategic partnership with Mulk Properties, which is a subsidiary of Mulk International, a global industrial conglomerate with diverse businesses, who are expanding their multinational real estate portfolio. The partnership signed is to formalise the development of a one-of-kind, premium, commercial development in Dubai – The LX, located in the heart of Arjan. The strategic collaboration also brings together One Broker Group, an award-winning, developer-focused real estate agency in Dubai, as the exclusive sales partner for the project.

This landmark agreement marks a significant step toward reshaping Dubai’s commercial property landscape, with the signing ceremony held on 7th May at MayaBay, Jumeirah Al Naseem, Dubai. In 2024, the Dubai commercial property market recorded a 24% jump in growth, with almost 3,000 office units sold, with transactions valued at AED 89.9 Billion*. This double digit YoY growth pattern is expected to continue with more and more companies registering with Dubai Chamber of Commerce and the lack of office spaces to meet this demand.

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Real Estate

Winning the award for Best Practices in the Anti-Fraud category Dubai Land Department

Winning the award for Best Practices in the Anti-Fraud category Dubai Land Department reinforces principles of transparency and promotes a culture of integrity within its operational framework

Dubai, United Arab Emirates, 08 May 2025: Dubai Land Department (DLD) was recognised under the ‘Best Practices – Anti-Fraud Category’ by the UAE Internal Auditors Association, in recognition of its pioneering efforts in developing an integrated system for fraud risk management and prevention. The award also acknowledges DLD’s commitment to enhancing transparency and promoting a culture of integrity across the real estate sector.

This award reaffirms DLD’s position as a leading institution in adopting effective anti-fraud practices grounded in strong institutional values and driven by an integrated approach aimed at achieving tangible impact, advancing transparency maturity, and reinforcing the principle of professional integrity.

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Entertainment & Celebrity

Yas Island Celebrates Announcement of Disney Theme Park Resort

Yas Island Celebrates Announcement of Disney Theme Park Resort with a Record-Breaking Drone Show, Landmark Illuminations, Live Performances and Fireworks Spectacular

  • Over 9,000 drones lit up Yas Island’s sky in celebration of the landmark announcement of the Middle East’s first-ever Disney theme park resort destination
  • Global Celebrities – Tyrese Gibson, Naomi Campbell, Nancy Ajram, Chiara Ferragni, and Ed Westwick joined the celebrations on Wednesday May 7th on Yas Island
  • Guests were treated to a live performance featuring world-renowned pianist Lang Lang alongside beloved Emirati icon, Rashed Alnuaimi, Kerry Ellis and Sonya Balsara
  • Iconic UAE landmarks including Burj Khalifa and Aldar HQ lit up with dazzling visuals

Abu Dhabi, United Arab Emirates – May 8, 2025: History was made last night as Miral and The Walt Disney Company celebrated the official announcement of the Middle East and Africa’s first-ever Disney theme park resort destination with a record breaking 9,000 drone show and fireworks spectacle. The show, which took place at Yas Links, also featured a live performance of world-renowned pianist Lang Lang alongside iconic Emirati singer Rashed Alnuaimi, queen of the West End, Kerry Ellis and classical sensation, Sonya Balsara.

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Business & Investments

Dubai Islamic Bank Names First Million-Dirham Winner of 2025 Visa Card Draw Campaign

  • Female Emirati cardholder wins AED 1,000,000 grand prize in latest DIB Visa Cards drive, reinforcing the bank’s commitment to rewarding customer loyalty

Dubai, UAE – 8  May 2025: Dubai Islamic Bank (DIB), the largest Islamic bank in the UAE, has announced the winner of its AED 1,000,000 Visa Cards Draw Campaign – a female Emirati customer, Ms. Mariam Al Dhuhoori, who struck it rich after spending with her DIB Visa Card. The two-month campaign, starting February 2025, offered DIB cardholders a chance to win by simply spending a minimum of AED 1,000 during the campaign period.

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