Dubai Bets on Musk’s Tunnels as Expat Boom Strains Infrastructure
Work on the pilot phase of the $545 million tunnel project is expected to start this year.
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Welcome to the Mideast Money newsletter, I’m Adveith Nair. Join us each week as my team and I chronicle the intersection of money and power in a region that’s become one of the most influential in global finance. You can sign up here.
This week: Abu Dhabi builds a new deal machine around its crown prince and a powerful non-royal; a $160 billion fund eyes bolder bets for 10% returns; and Saudi Arabia’s IPO localization rules face pushback.
But first, an influx of well-heeled expatriates and the world’s biggest firms into Dubai continues.