Bloomberg Saudi Arabia added new incentives to keep its mortgage boom going by scrapping a 15% value-added tax on property sales and offering other relief for home buyers amid a push by the Arab world’s largest economy to expand residential ownership. Property transactions will instead be subject to a new 5% real estate sales tax, according to state-run news agency ...

DUBAI / WAM The Pointe, Dubai’s premier lifestyle and dining destination by Nakheel Malls, is gearing up to launch the world’s largest fountain. ‘The Palm Fountain’, Palm Jumeirah’s latest waterfront attraction, will attempt to break a Guinness World Records (GWR) title during its inaugural launch event, and the public is invited to witness the celebration. Spread over 14,000 square feet ...

DUBAI / WAM Shuaa Capital has launched three Sharia compliant funds and already secured $75 million of commitments. The Shuaa High Yield Sukuk Fund, Nujoom Aggressive Fund and Nujoom Balanced Fund – the first Sharia-compliant funds within an ICC umbrella to launch in the Abu Dhabi Global Market (ADGM) – are breaking ground as part of Shuaa’s fund platform rolled ...