Dubai’s Department of Economy and Tourism celebrates successful participation at ATM 2023

Dubai’s Department of Economy and Tourism (DET) made an impressive showing at the 30th edition of Arabian Travel Market (ATM), held from 1st-4th May at the Dubai World Trade Centre, further reinforcing Dubai’s position at the forefront of the world’s leading travel destinations. More than 122 public and private sector establishments held a large number […]

Dubai developer Nakheel launches Como Residences on Palm Jumeirah

based master developer Nakheel has launched Como Residences, a new residential development on Palm Jumeriah. The 71-storey residential tower is over 300 metres tall and features an innovative design that ensures each residence can take full advantage of the 180° to 360° views of Dubai and the Arabian Sea, the developer said in a statement. Como […]

Dubai Islamic Bank to acquire 25% stake in Turkey digital bank

  Dubai Islamic Bank, the UAE’s largest Islamic lender, said on Wednesday its board of directors has approved a proposal to acquire 25% stake in a new digital banking group in Turkey in line with its international expansion strategy. The Dubai Financial Market-listed lender in a regulatory statement on Wednesday neither named the digital bank […]

Abu Dhabi’s Aldar Properties posts 22% jump in Q1 2023 net profit

The UAE developer Aldar Properties posted a 22% increase year-on-year (YoY) in Q1-2023 net profit to 836 million dirhams ($228 million), and said it expects “robust real estate market dynamics” to sustain through 2023. The net profit easily topped analysts’ mean estimate of AED747.7 million, according to data compiled by Refinitiv’s Eikon. Group revenue for […]

Dar Global awards $32mln fit-out contract for Da Vinci Tower in Dubai

Dar Global, the global arm of Saudi developer Dar Al Arkan, has awarded a fit-out works for 800 million UAE dirhams ($217.86 million) Da Vinci Tower in Business Bay to Shapoorji Pallonji Mideast. The contract is valued at AED 116 million ($31.59 million). “Awarding the fit-out works follows a rigorous selection process,” the LSE-listed Dar […]

DIFC to host inaugural Dubai FinTech Summit next week

  Dubai is set to host the first-ever Dubai FinTech Summit on 8th and 9th May under the patronage of H.H. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance. The Summit will be organised by Dubai International Financial Centre (DIFC) at Madinat Jumeirah and […]

FTA outlines procedures for VAT recovery on Mosques’ construction and operation

The Federal Tax Authority (FTA) held a session in collaboration with the Department of Islamic Affairs in Sharjah, as part of the Customer Councils initiative launched by the UAE Government. The Council aimed to improve government services by engaging customers in designing innovative experiences based on their ideas and suggestions. The session was attended by […]

Dubai Chambers to showcase private sector role, expand networks at WCC in Geneva

Dubai Chamber is set to highlight the key role played by the emirate’s private sector worldwide and expand its global networks, bilateral trade, and business reach during the 13th World Chambers Congress (WCC) in Geneva, Switzerland, from 21st-23rd June 2023. As a diamond sponsor of the 13th WCC, which is held under the theme of […]

Azizi nearing sellout for 256 pool-facing Dubai residences

UAE-based Azizi Developments has announced the sale of almost all of its 256 pool-facing homes at Beach Oasis, a vibrant mixed-use community in Dubai with two buildings comprising a total of 476 studios, 200 one- and 36 two-bedroom residences as well as several key retail units. Built for the modern, young adults, Beach Oasis is […]

AI research and development central to UAE’s economic diversification: COP28 President-Designate

Artificial intelligence research will play a key role in harnessing global opportunities and creating practical, tangible solutions for increasing AI adoption as well as generating economic and social value, said Dr. Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology, and President-Designate of COP28, during a visit to Mohamed bin Zayed University of […]