High taxes, rising prices and rents, and fewer opportunities in those countries are prompting many to return to the Emirates, say experts The UAE is witnessing a reverse migration trend: More former residents, who relocated to Canada and the US for greener pastures, are returning to the country, industry experts said. Property developers in Dubai have seen increased investments from such new...
Dubai International, one of the world's busiest airports, is gearing up for a record week as Eid Al Fitr holidays coincide with spring break. More than 3.6 million travellers are expected to pass through the airport, also known as DXB, between Tuesday and April 15. Authorities said daily passenger traffic will average 258,000 travellers during this period, with the busiest days being on the...
The United Arab Emirates has recorded the highest ever score in the history of the GEM National Entrepreneurial Context Index (NECI). Introduced in 2019, the NECI is tabulated based on how a set of national experts score a country’s 13 different Entrepreneurship Framework Conditions (EFCs). The UAE’s score of 7.7 is significantly higher than the next economy (India at 6.6). These were among the...
The agreement was signed as part of the “Dubai Real Estate Programme” to enable local talent to advance in real estate Dubai Land Department (DLD) on Sunday said it signed a deal with nine private and government-backed developers to allocate a certain quota of their projects to be sold through Emirati brokers to provide more job opportunities to the locals. In a deal signed with Emaar...
In a strategic move to bolster Dubai's economic position, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, announced the consolidation of Nakheel and Meydan under the umbrella of Dubai Holding. This merger, effective as of Saturday, aims to create a financially optimized entity with a combined asset value exceeding hundreds of billions of...
Prime residential real estate in the UAE is expected to provide an yield of 6.25 per cent to seven per cent, a new report showed on Wednesday. According to CBRE Research’s 2024 Market Outlook for Middle East real estate, residential properties are expected to provide an yield of seven per cent to 7.5 per cent. In the office category, the expected yield range is 6.5 per cent to 7.25 per cent for...
Dubai is solidifying its position as the world's leading market for branded residences, experiencing significant growth and diversification within the sector. This trend is driven by a growing demand for luxury living experiences coupled with the unique appeal of iconic brands. DAMAC Properties has established itself as a frontrunner in this evolving market, forging strategic partnerships with renowned...
Dubai Mall welcomed a record 105 million visitors in 2023, a jump of over 19% on the previous year’s 88 million; sales were also exceptionally strong in 2023.New figures released by the mall today also show a staggering 20 million people visited the mall in the first two months of this year alone, with 2024 set to be another record year. "These numbers reflect Dubai Mall's impressive status and...
It was the top-performing area in the emirate in terms of last year's fourth-quarter sales Palm Jebel Ali is increasingly gaining interest from long-term investors, standing out as the top-performing area in Dubai in terms of last year's fourth-quarter sales. Industry executives say that investors are selling their units at premiums of up to 10 per cent to cash in on the gains following the...
