• Dubai Airports Chief Envisions Revolutionary Terminal Design
    Nov 22 2024

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    Paul Griffiths, CEO of Dubai Airports, envisions eight smaller airports within the upcoming Al Maktoum International Airport. This innovative concept aims to provide an intimate and efficient travel experience by sharing only the runways. He seeks to simplify the check-in process, allowing passengers to step out of their car or air taxi, board a train, and disembark directly at their gate.


    Speaking at the Skift Global Forum East, Griffiths shared plans for an “intimate concourse” where planes, lounges, shops, and restaurants are conveniently close. He envisions passengers arriving two hours early spending 98% of their time shopping and relaxing and only 2% on formalities. A new airport app has also been introduced, guiding passengers to their gates and highlighting nearby shops and services.


    Griffiths criticized outdated airport systems, calling for the removal of traditional processes like check-in and baggage tags. He proposed embedding unique barcodes into suitcases, eliminating the need for paper labels. His vision includes an airport with no stops, no passport control, and no security bottlenecks, allowing passengers to move seamlessly.


    Stressing the airport’s role as a country’s first impression, Griffiths aims to align Dubai’s cutting-edge airport experience with the city’s global reputation. He emphasized, “The moment people arrive at the airport, they form an impression of the country, and I take that responsibility seriously.”

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    Source: https://www.khaleejtimes.com/uae/dubai-airports-chief-wants-8-smaller-airports-at-al-maktoum-terminal-intimate-concourse


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    3 mins
  • UAE’s New Free Zone Revolutionizes Business Setup
    Nov 19 2024

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    The Ajman NuVentures Centre Free Zone (ANCFZ), UAE’s latest free zone, has already attracted 450+ companies in less than two months. It stands out by offering business licenses within 15 minutes and visas in 48 hours, a significant improvement compared to the typical process taking weeks. The free zone is entirely digital, enabling investors to complete applications and sign documents remotely, saving time and effort.


    For just Dh15,000 to Dh20,000, investors can establish a company and gain residency, making UAE one of the most attractive destinations globally. Positioned strategically near Europe, Africa, and the subcontinent, the UAE benefits from excellent connectivity through airlines like Emirates and flydubai, low taxation, and liberal regulations.


    ANCFZ caters to all services allowed under UAE law, including blockchain, AI, gaming, and other emerging technologies. The zone offers versatile office solutions such as coworking spaces, ensuring flexibility for businesses of all sizes. Investors enjoy low-cost packages, with licenses for 10 activities at Dh10,800, which includes a 10% discount for upfront payments.


    ANCFZ also facilitates bank account setups within 7-10 days, addressing one of the biggest challenges for startups. This efficiency, coupled with affordable pricing, makes it a prime choice for entrepreneurs looking to thrive in a dynamic, innovation-driven economy.


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    UAE’s New Ajman NuVentures Free Zone: License in 15 Minutes, Visa in 48 Hours

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    Discover Ajman NuVentures Free Zone, UAE’s innovative hub offering quick licenses, visas, and affordable packages for global entrepreneurs.


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    Source: https://www.khaleejtimes.com/business/uaes-new-free-zone-offers-licence-in-15-minutes-visa-in-48-hours

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    4 mins
  • Dubai Prepares for Increased Rainfall and Identifies 14 Flood-Prone Areas
    Nov 13 2024

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    Dubai has identified 14 flood-prone areas susceptible to severe weather and heavy rains expected over the next decade. The National Center of Meteorology anticipates up to a 30% rise in rainfall intensity, necessitating proactive measures.

    The vulnerable areas include locations along Sheikh Zayed Road, Al Khail Road, and Sheikh Mohammed bin Zayed Road. To address risks, Dubai Municipality has launched short-term and long-term infrastructure projects aimed at rainwater management, such as installing pumps to channel accumulated water away safely.

    Dubai’s Crisis Preparedness Initiatives
    Dubai authorities, in partnership with various agencies, are boosting crisis management strategies. During a seminar led by Dubai Police, plans were presented to enhance infrastructure and readiness. Mohammed Al Dhanhani of Dubai Municipality highlighted ongoing upgrades, noting 90% of flood-prone areas have already received improvements.

    RTA and Dubai’s DH30 Billion ‘Tasreef’ Project
    In addition to addressing identified hotspots, the Roads and Transport Authority (RTA) has pinpointed 22 other vulnerable locations. A major Dh30 billion rain drainage project, 'Tasreef,' will also fortify Dubai’s rainwater management, scheduled for completion by 2033.

    Lieutenant General Dhahi Khalfan bin Tamim proposed a dedicated crisis response team, unified contact numbers for inquiries, and community education on flood preparedness and safety measures. He emphasized the need for specialized equipment, swift response systems, and preventive action based on meteorological forecasts.

    Source: https://www.khaleejtimes.com/uae/dubai-identifies-14-flood-prone-areas-after-april-rain-prepares-for-future-disasters

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    2 mins
  • Two-Year Rental Ban After Owner Occupancy
    Nov 11 2024

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    In Dubai, property owners have the right to evict tenants under specific conditions if they wish to occupy the apartment themselves or for a first-degree family member’s use.

    This is governed by Article 25(2)(c) of Dubai’s Amended Rent Law (Law No. 33 of 2008), which allows owners to request the tenant’s eviction at the end of the rental contract if they do not own any other suitable property for this purpose.

    To begin the eviction process, the property owner must issue a 12-month eviction notice to the tenant. This notice needs to be legally attested by a notary public or sent via registered mail, clearly outlining the eviction reasons. The law mandates this notice period to ensure the tenant has adequate time to make alternative arrangements.

    Additionally, once the property owner has taken possession of the apartment, they cannot rent it to a third party for at least two years if it is a residential property, or three years if it is a commercial property. This restriction is intended to prevent misuse of the eviction clause under personal use grounds.

    If the owner violates this restriction by renting out the property within the prohibited period, the former tenant may petition for compensation through the rental dispute tribunal.

    In summary, an owner in Dubai intending to move into their rented apartment must serve a 12-month notarized notice for eviction and, upon taking possession, refrain from renting it out for two years (for residential properties) or three years (for commercial properties).


    Source: https://www.khaleejtimes.com/uae/legal/dubai-owners-cannot-rent-out-apartment-for-2-years-after-vacating-it-for-personal-use

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    3 mins
  • Forbes: Wynn Resorts’ $5 Billion Bet on UAE’s First Casino Sets Stage for New Entertainment Capital
    Nov 9 2024

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    Wynn Resorts is investing $5.1 billion to construct a luxurious casino resort on Ras Al Khaimah’s Al Marjan Island in the UAE, marking the country’s first-ever licensed gaming facility.

    The project includes a 1,542-room tower, a 225,000-square-foot gaming floor, 16 restaurants, and extensive entertainment amenities. Slated for completion in 2027, the resort aims to position Ras Al Khaimah as a global entertainment hub.

    This development represents a significant shift in the UAE, where gambling has historically been prohibited due to Islamic law. The recent establishment of the General Commercial Gaming Regulatory Authority, tasked with overseeing gaming activities, reflects the UAE’s commitment to diversifying its economy.

    Wynn’s resort has already spurred a real estate boom and attracted interest from other developers, including MGM Resorts, which is planning its own casino-focused ventures in Abu Dhabi and Dubai. Wynn expects high revenue from its new location, supported by the UAE’s proximity to major international markets and an affluent expatriate population.

    The UAE’s ambition to emulate Las Vegas-style entertainment includes constructing themed resorts and hosting theatrical productions similar to Cirque du Soleil’s performances. Ras Al Khaimah’s tourism sector is projected to grow rapidly, aiming for 3.5 million visitors by 2030, up from 1.2 million in 2023. The island, currently limited to six hotels, is expected to welcome numerous new luxury properties.

    Wynn’s Al Marjan Island development is anticipated to significantly impact the UAE’s economy, with tourism revenues projected to surge and gaming potentially contributing an estimated $8.5 billion annually. As the UAE embraces gaming and entertainment, Ras Al Khaimah is poised to become a premier destination in the region’s leisure industry, comparable to global entertainment capitals.

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    3 mins
  • Dubai Ranked 5th Best City Brand Globally
    Nov 7 2024

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    Dubai has risen to 5th place in the Brand Finance Global City Index, ranking just behind London, New York, Paris, and Tokyo.


    The index, based on responses from over 15,000 people across 20 countries, assesses the world’s top 100 city brands on familiarity, reputation, and consideration for living, working, visiting, and investing.


    Dubai leads globally in reputation and the business and investment pillar, excelling in its attractiveness for local and remote work, innovative potential, and economic stability.


    The Dubai Future Foundation and low personal taxes have bolstered Dubai’s image as a hub for start-ups and future growth, making it the top city for investment consideration.


    Abu Dhabi also performed well, maintaining its 30th place overall and showing improvement in various metrics, especially for innovation and technology.


    It ranks 5th in business and investment, 4th for start-ups, and 2nd for future growth potential, reinforcing its status as an emerging innovation hub.



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    Source: https://www.khaleejtimes.com/uae/dubai-has-best-reputation-among-worlds-top-100-cities


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    2 mins
  • Dubai Approves Historic Budget with Record Surplus
    Nov 6 2024

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    Dubai has approved its largest budget to date for 2025-2027, forecasting a record Dh30 billion (21%) surplus with projected revenues of Dh302 billion and expenditures of Dh272 billion.

    Sheikh Mohammed bin Rashid Al Maktoum, Dubai's Ruler, announced that the 2025 budget will prioritize social services and infrastructure, aiming to enhance quality of life and maintain financial sustainability.

    The budget allocates 46% to infrastructure, including roads, bridges, energy projects, and the new Al Maktoum Airport.

    An additional 30% is dedicated to social development sectors like health, education, housing, and support for vulnerable groups, aligning with Dubai’s Social Agenda 33 and Education Strategy 2033.

    Security and justice services will receive 18% of the budget, underscoring their importance in maintaining stability.

    The budget also emphasizes public-private partnerships with a Dh40 billion initiative and includes a Dh5 billion general reserve to support future development projects.

    Overall, the three-year financial plan aims to promote sustainable economic growth and community well-being, reinforcing Dubai's position as a hub for innovation and opportunity.

    Source: https://www.khaleejtimes.com/business/dubai-approves-largest-budget-in-emirates-history

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    3 mins
  • Understanding Rent Increase Limits for Dubai Landlords
    Nov 5 2024

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    In Dubai, landlords cannot increase rent arbitrarily to match market rates due to regulations set by the Real Estate Regulatory Agency (RERA). The maximum allowable rent increase depends on how much below the average rental value the current rent is, as per Decree No. 43 of 2013. Specifically:


    • If rent is up to 10% below the average, no increase is allowed.
    • For 11%-20% below, a 5% increase is permitted.
    • For 21%-30% below, the increase can be 10%.
    • For 31%-40% below, a 15% increase is allowed.
    • If more than 40% below, a maximum of 20% increase is allowed.

    These averages are determined by Dubai's Rent Index.

    Landlords must give tenants at least 90 days' notice before any rent change upon lease renewal. If no agreement is reached on new terms, the Rental Dispute Centre may intervene to set a fair rent.



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    Source:https://www.khaleejtimes.com/uae/legal/dubai-can-landlords-increase-rent-by-dh20000-all-at-once-to-match-current-market-rate


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    2 mins