Sharjah on its way to become the next Dubai? With affordable housing, major upcoming developments, a family-friendly environment, and new laws permitting foreigners to own property in areas across the emirate, expats are flocking to Sharjah to escape Dubai’s “sky-high rents,” Bloomberg reports. Arada, one of the emirate’s key developers, is leading the charge in the emirate’s real estate landscape with its USD 9.5 bn Aljada project, a 25k-unit development set for completion by 2030.

WATCH THIS SPACE- Arada is talking to Sharjah officials to introduce flexible business licenses in Sharjah, offering tax breaks and other benefits similar to Dubai’s freezones, according to Arada CEO Ahmed Alkhoshaibi.

The UAE topped Exxon Mobil’s global tax windfall: Exxon Mobil ’s shelled out USD 7.41 bn in taxes and royalties to the UAE, making it the highest amount the oil giant paid to any country worldwide, Bloomberg reports.

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