The concept of luxury in real estate is evolving, as affluent buyers seek more than grand mansions or exclusive penthouses. High-net-worth individuals (HNWIs) are now prioritizing sustainable communities that not only elevate their lifestyle but also address pressing environmental concerns. a majority of HNWIs now see environmental and sustainability factors as essential when choosing property. Leading...
According to the latest rankings from US News & World Report, the United Arab Emirates now stands as the world’s most economically stable nation, ranking first among 89 countries. This impressive achievement highlights the UAE's success over traditionally strong economies, attributed to its low manufacturing costs, favorable tax policies, streamlined bureaucracy, minimal corruption, and transparent...
Dubai’s property market set a new record in September 2024 with 18,038 transactions, surpassing the previous high of 17,139 from May by nearly 900, reflecting strong sector confidence and growth. Residential sales dominated, accounting for over 95% of total transactions, with off-plan sales—led by Emaar, followed by Damac and Sobha—comprising 73% of all sales. Property Monitor reported that the...
Dubai has maintained its position as the leading city in the Middle East and North Africa (MENA) region in Kearney’s Global Cities Index, securing the 24th spot globally and remaining in the top 25 for the fourth consecutive year. Ease of entry, a new metric under the human capital dimension, highlights the success of these cities in attracting and retaining foreign talent. The report also noted the...
Dubai’s newest architectural marvel, the Muraba Veil, is set to draw attention not for its height, but for its remarkable slender design. Standing at 380 meters, this ultra-narrow skyscraper will feature just one apartment per floor, making it one of the most slender skyscrapers in the world. Located along Sheikh Zayed Road and overlooking the Dubai Canal, the Muraba Veil spans a mere 22.5 meters in...
Imagine traveling at 200 km/h, bypassing heavy traffic, and completing the trip from Abu Dhabi to Dubai in just 57 minutes instead of the usual two hours. This is set to become a reality as Etihad Rail announces the travel times for its passenger trains, linking the capital with other emirates. Etihad Rail has revealed the journey durations across the UAE, including a 70-minute trip from Abu Dhabi to Al...
Question: As an expatriate in Dubai with assets in both the UAE and my home country, how should I approach writing a will? What steps and laws should I be aware of? Answer: Non-Muslim expatriates in the UAE have the option to apply their home country’s inheritance laws under Article 1 of Federal Decree Law No. 41 of 2022 on Civil Personal Status. Article 11 of the UAE...
The Hafeet Rail network project, which will link the UAE to the Port of Sohar in Oman, has successfully secured $1.5 billion in project financing. This funding comes from a collaboration of Emirati and Omani banks, as well as regional and international institutions, encompassing both conventional and Islamic financing in UAE dirhams and Omani rials. Spanning 238 kilometers, the railway will feature 60...
The United Arab Emirates (UAE) has officially exempted all cryptocurrency transactions from value-added tax (VAT), bringing the treatment of digital assets in line with traditional financial services. This landmark decision is aimed at clarifying the regulatory framework for the growing sector. Crypto Regulation Update The Federal Tax Authority (FTA) announced that the VAT exemption will take effect on...
Dubai's real estate market reached a historic high in Q3 2024, with total sales amounting to AED141.9 billion ($38.6 billion), marking the highest sales volume recorded in a single quarter. This surpasses the previous quarterly record of AED124.07 billion ($33.8 billion) set in Q2 2024, reflecting a 30.1% increase in value compared to the same period last year. A report by DLD highlighted the...
