Site of world’s fair to welcome new residents and major company headquarters from October 2022 The Expo 2020 site is to be transformed into Expo City Dubai and will soon welcome thousands of new residents and businesses, said Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, on Monday. In a series of tweets, Sheikh Mohammed set out his vision for the legacy site. Expo City Dubai will be a “hub of economic activity” and home to major companies and their headquarters. The city will open up in phases from October. It will be free …

Sheikh Mohammed bin Rashid unveils Expo City Dubai Leggi tutto »

The single-use-plastic-free Expo City Dubai will host new company HQs, a score of startups, and will continue hosting the ‘Alif’ Mobility and ‘Terra’ Sustainablility pavilions, as well as the much-loved waterfall feature. Here’s more! Sheikh Mohammed bin Rashid Al Maktoum, the Vice President, Prime Minister, and Ruler of Dubai, has unveiled the legacy plan of Expo 2020 Dubai: Expo City Dubai – which will be a smart and futuristic destination for business and innovation, driven by sustainability, innovation, education, and entertainment. Set to open in October 2022, Expo City Dubai – which is part of …

Future of Expo 2020: Which pavilions will remain? What firms, attractions will ‘Expo City Dubai’ host? Leggi tutto »

Mariam bint Mohammed Almheiri, the UAE Minister of Climate Change and Environment, shared her thoughts on Sheikh Mohamed bin Zayed’s recent announcement at the MEF global forum The UAE is doubling down on efforts to address climate change and accelerate the global energy transition. The UAE President Sheikh Mohamed bin Zayed pointed to the UAE’s investment of more than $50 billion in renewable energy projects across 40 countries, while announcing plans to invest an additional $50 billion over the next decade. The announcement, which was made at the Leaders Meeting of the Major Economies Forum …

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Approximately 4,000 more millionaires are expected to move to the UAE this year than those who will leave — one of the country’s largest millionaire net inflows on record The UAE is expected to attract the largest net inflow of high-net-worth individuals (HNWIs) globally in 2022, according to forecast HNWI figures published in the latest Henley Global Citizens Report. Approximately 4,000 more millionaires are expected to move to the UAE this year than those who will leave — one of the country’s largest millionaire net inflows on record, according to the report, which tracks private wealth …

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Jebel Ali Port, Free Zone and National Industries Park serve over 3.5b people globally Dubai: DP World and CDPQ, a global investment group, announced an investment of $5 billion in three of DP World’s flagship UAE assets, on Monday. CDPQ will invest $2.5 billion in the Jebel Ali Port, the Jebel Ali Free Zone and the National Industries Park through a new joint venture in which it will hold a stake of approximately 22 per cent, with the remainder of the transaction being financed by debt. Other long-term investors will have the opportunity to acquire …

DP World, CDPQ to invest $5 billion in key assets in UAE Leggi tutto »

It is top for the region attracting 233 new projects in the creative economy in 2021 Dubai ranks second globally and first regionally for attracting foreign direct investment (FDI) projects in its creative economy. Sheikha Latifa bint Mohammed bin Rashid Al Maktoum, Chairperson of Dubai Culture and Arts Authority (Dubai Culture) and member of the Dubai Council, revealed that Dubai had consolidated its status as a global cultural hub and investment destination. According to the Dubai FDI Monitor report, Dubai attracted 233 new projects in the creative economy in 2021, surpassing other major cities such …

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The state’s non-oil foreign trade during the first quarter of this year touched 500 billion dirhams for the first time in the history of the country, achieving a growth rate of 20.5% to reach 499.7 billion dirhams, compared to 414.6 billion dirhams for the same period in 2021, with a growth of 26.3% compared to the value registered in 2019, which amounted to 395.8 billion dirhams, according to the Federal Center for Competitiveness and Statistics. Preliminary data issued by the center showed, a while ago, that the total non-oil exports rose to 218.5 billion dirhams …

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Dubai Chambers is in the process of developing and launching several new initiatives designed to improve ease of doing business in Dubai, remove trade barriers, and enable Dubai businesses to tap into growth opportunities, the chairman said In April 2022, the Dubai Chamber of Commerce – which is one of three chambers operating under Dubai Chambers – welcomed 3,056 new member companies, bringing the chamber’s total membership to 300,000 companies and making it the largest chamber of commerce in the world. The Dubai Chamber of Commerce revealed that its membership increased by 55.4 percent in April 2022, …

Over 3,000 firms join Dubai Chamber of Commerce in April 2022 making it the largest in the world Leggi tutto »

His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Chairman of The Executive Council of Dubai and Chairman of the Board of Trustees of the Dubai Future Foundation (DFF), has announced that Dubai will host the Dubai Future Forum from 10 – 11 October 2022 at the Museum of the Future. The Forum will convene 400 global futurists, thought-leaders, and specialists, from various sectors, representing more than 15 organisations and institutions, to shape opportunities for the future of humanity. His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum said: …

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The comprehensive restructuring plans for the Dubai Land Department and Dubai Municipality aim to improve operational efficiencies, promote public-private partnerships, ensure sustainable development, and maximise the emirate’s economic, tourism, and commercial potential Sheikh Hamdan bin Mohammed, the Crown Prince of Dubai, and Sheikh Maktoum bin Mohammed, the Deputy Ruler of Dubai have reviewed the comprehensive restructuring plans for Dubai Municipality (DM) and the Dubai Land Department (DLD), which include boosting real estate investments and increasing opportunities for businesses through public-private partnerships. The restructuring plan for the Dubai Land Department seeks to improve the competitiveness of the emirate’s real …

Sheikh Hamdan reviews plans to boost Dubai real estate, create private sector deals worth $2.72bn per year Leggi tutto »

Supply is also increasing with Dubai being the largest hospitality contributor across the Emirates The UAE hospitality market saw growth in occupancy in the first quarter of the year of 24 per cent, according to data from commercial real estate experts Colliers. Colliers’ executive director – Head of Hotels for the MENA region, Christopher Lund, said: “All markets in UAE saw an increase in performance levels in comparison to 2021, with Dubai and Sharjah observing the highest growth in occupancies. This can be attributed to increased demand during the winter holidays and last three months …

UAE hospitality sector sees 24 percent rise in occupancy in first quarter of 2022 Leggi tutto »

In addition to doubling visitor numbers, the 29th edition of the Arabian Travel Market (ATM) held at the Dubai World Trade Centre drew 1,500 exhibitors and attendees from 150 countries More than 23,000 visitors attended the 29th edition of Arabian Travel Market (ATM) 2022, as industry leaders gathered at the Dubai World Trade Centre (DWTC) to share insights into the future of international travel and tourism. The four-day live event – which was inaugurated by Sheikh Ahmed bin Saeed Al Maktoum, the president of the Dubai Civil Aviation Authority, chairman of Dubai Airports, chairman and chief …

Wrap-up: ATM 2022 draws 23,000 visitors as ideas, inclusivity, and tech beckon the future of travel Leggi tutto »

The Dubai Council chaired by Sheikh Mohammed bin Rashid has restructured the Land Deparment to raise the real estate sector’s operational efficiency by a minimum of 20 percent The Dubai Council has approved a comprehensive restructuring of the Land Department in a bid to improve real estate and has launched a set of new development projects to transform the emirate’s countryside into a tourism destination. The decision were taken during a meeting of the Dubai Council chaired by Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai in the presence of Sheikh Hamdan bin Mohammed …

Dubai Council takes measures to boost real estate efficiency and transform tourism Leggi tutto »

When the world was shutting down due to pandemic, the emirate was on-track and opened everything it promised Dubai is now emerging as a top destination for “bleisure” tourism, as more people fly into the city with a mix of business and leisure needs in mind, a spokesperson for a government entity has said. “The demographics of Dubai’s visitors are changing,” said Hoor Al Khaja, acting associate vice-president for International Operations at Dubai’s Department of Economy and Tourism (DET). “More people are travelling to Dubai to visit and remotely work from here. Even for this …

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The emirate experienced significant growth in all key indicators compared to the previous year Dubai topped the global ranking as the most sought-after destination for greenfield foreign direct investment projects in 2021 on the back of “a sustainable economic environment and a vibrant business ecosystem for companies and entrepreneurs.” Dubai emerged as the destination of choice for 418 greenfield FDI projects in 2021, surpassing London and Singapore for the first time with a remarkable lead of over 50 FDI projects as it continued to maintain and improve on its lead position across key FDI attraction …

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Different to investment attraction that thrives in the face of fierce competition, in what is a winner takes all game, investment aftercare nurtures what is based locally and seeks to create additional value for the economy. the lead author of Dubai’s FDI guide said There is a need to review the whole investment life cycle – which includes the post-investment stage – in order for economies to thrive, an expert told Arabian Business. While sufficient attention is given to attract investors into leading economies, quite often, budgets aren’t set aside to retain these foreign investors and …

What gaps need to be addressed to boost foreign direct investment into Dubai? Leggi tutto »

Dubai’s handling of the pandemic and business reforms has put the emirate in a good position to draw in further foreign direct investment Strong foreign direct investment flows into Dubai are likely to continue throughout 2022 as it continues to manage the Covid-19 pandemic well and on the back of business reforms in the Gulf city, experts told Arabian Business. Dubai, the financial hub of the United Arab Emirates, raked in AED15.9 billion ($4.3bn) in foreign direct investment across 378 projects in the first nine months of 2021, making it the third most popular destination for FDI …

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Dubai: A special ‘Made in The Emirates’ seal is being launched as part of the United Arab Emirates’ highly ambitious’ Operation 300Bn’ industrial sector reform launched last month “The seal … is one of our most important initiatives that we plan to launch later,” said Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology of the United Arab Emirates, said. ‘It will be a quality brand that supports national products and services. ‘The brand wants to become a symbol for the best in class. The ‘Made in The Emirates’ seal is a …

‘Made in The Emirates’ seal to be launched later on United Arab Emirates” Operation 300 billion ‘: Dr Sultan Al Jaber Leggi tutto »

BASTA CON LA LOGICA “AMAZON DEL BUSINESS” CHE CI RIMPROVERANO GLI EMIRATINI E CHE NON APPLICANO I NOSTRI PARTNER EUROPEI Con 24 milioni di visitatori Expo Dubai è stata un successo senza precedenti e un’occasione molto importante per le aziende italiane che vogliono iniziare nuovi business nel Paese. “Possiamo dirlo dopo 2 settimane dalla chiusura dell’Esposizione. Non facciamo che l’Expo diventi un’occasione persa” – sottolinea Giovanni Bozzetti, Presidente di EFG Consulting società di consulenza specializzata nel mercato emiratino, che ha accompagnato ad Expo 150 aziende italiane e autore del libro “Emirati: nulla è impossibile” (edizioni Mondadori) …

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Properties in Dubai’s mid-to-luxury segment are seeing demand outstrip supply, super-premium properties are being bought quickly, and even the secondary market witnessed a threefold increase in in transactions in Q1 2022 Large numbers of European investors are snapping up ready properties in Dubai, resulting in a surge in demand in the secondary market, according to full-service real estate agency Metropolitan Premium Properties (MPP). The uncertainty in today’s geopolitical climate is driving European investors, business owners, and families to consider Dubai as key business and lifestyle hub, the agency said in a statement. The increased demand has resulted …

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Although a 50-year period is considered relatively short in the life of a country, the UAE proved time is not an important factor in a country’s development: Anwar Gargash With an economy that has grown from $15 billion in 1975 to $430bn at present, the UAE – which recently celebrated its 50th anniversary – proved that time is not a factor in the development of nations, said Anwar Gargash, diplomatic adviser to the UAE President. “A few months ago, we celebrated the 50th National Day of the UAE. It was a celebration of five decades and the achievement of …

From $15bn to $430bn: UAE diplomat on the secret of the nation’s success Leggi tutto »

Dubai Industrial City is attracting global industrial projects by providing the environment and solutions that support their growth, Dr Sultan Al Jaber said In line with the Ministry of Industry and Advanced Technology’s strategy to grow the country into “a major hub” for advanced industries and to open up new markets for UAE-made products, Dr Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology, visited two factories in Dubai Industrial City (DI) on Wednesday. “Through these visits, we aim to discuss ways to provide a supportive business environment for local and international investors …

UAE Minister highlights competitive advantages for investors in the industrial sector Leggi tutto »

The mega event expedited the recovery of the local economy after the Covid-19 pandemic Hotel occupancy in Dubai reached a 15-year high last month on the back of Expo 2020. Dubai’s hotel industry reported 90 per cent or better occupancy in any given month for the first time since 2007 in March, driven by the final weeks of Expo 2020, which concluded on March 31. Expo 2020 Dubai recorded over 24 million visits during the six-month-long event and welcomed 192 countries. The mega event expedited the recovery of the local economy after the Covid-19 pandemic. …

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The UAE Digital Economy Strategy aims to double the contribution of the digital economy to the GDP from 9.7 per cent to 19.4 per cent within the next ten years The UAE Cabinet met this week and approved a new Digital Economy Strategy that aims to increase the contribution of this sector to the GDP to 20 percent over the next 10 years. The meeting was chaired by Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai and was held at Qasr Al Watan Abu Dhabi. …

UAE Cabinet approves establishment of Council for Digital Economy Leggi tutto »

Government-led strategies, enabling policies, a strong regulatory framework, and a supportive local ecosystem have led investors and VCs to tap into a flourishing startup community, experts said The UAE has been ranked first globally as the best ecosystem for startups and entrepreneurs in 2022, ahead of the Netherlands, Finland, Saudi Arabia, and Lithuania, according to the Global Entrepreneurship Monitor’s (GEM) 2022 report, and experts have emphasised that the ranking is well deserved. The GEM report captures the perspectives of more than 2,000 relevant experts – at a minimum of 36 per country – across the 50 participating …

Why the UAE will remain the best country for startups and entrepreneurs in the years to come Leggi tutto »