The UAE will build an airlock for a global first space station around the Moon. In collaboration with NASA, the Mohammed bin Rashid Space Centre (MBRSC) will provide an airlock for Lunar Gateway. A UAE astronaut will fly to the lunar space station on a future Artemis mission. Lunar Gateway is planned to be: Support for Exploration and Research in Deep Space Home for Astronauts Staging Point...
Dubai Real Estate Market – 2023 Results Property Sales Compared to 2022: Total volume increased by 38% – 133,134 transactions Value rose by 56% – $112 billion Highest performance for a year ever recorded Existing properties' volume increased by 20.7% – 64,351 transactions Value rose by 46.8% – $68 billion Off-plan volume increased by 59.4% – 68,783 transactions Value rose by 39% –...
According to a consulting group, ValuStrat, average residential prices: – In Dubai rose by 5% to 7% – In Abu Dhabi rose by 3% to 5% In the next 3-4 months, the market will continue to be strong in terms of: Transactional Activity Price Appreciation Rental Increases New units are expected in the market next year, but demand will outstrip supply, supporting prices. Will be ready for...
The UAE Corporate Tax for Natural Persons The UAE's Federal Tax Authority has issued a new corporate tax guide. It is aimed to help natural persons (individuals), to determine whether they are subject to corporate tax. When Natural Persons are Subject to Corporate Tax – If their total annual Turnover derived from Business or Business Activities conducted in the UAE exceeds AED 1 million...
Iconic jewellery company Jacob &Co is in collaboration with power developer Binghatti to create an ultra-luxury Dubai skyscraper called Burj Binghatti Jacob & Co Residences in the Business Bay area. The project Burj Binghatti Jacob & Co Residences, aspires to achieve the record for the world’s tallest residential structure. Besides being engaged in the design process of the skyscraper,...
Many in the expat community are unaware of this additional charge often ask what is the Dubai Municipality housing fee that keeps appearing on their monthly DEWA bill. WHAT IS THE HOUSING FEE IN DUBAI? The housing fee in Dubai is an additional, annual charge for expatriates living in their dream accommodation in the emirate. The Dubai Municipality charges a housing fee for its services, which is to be...
Ejari regulates the rental market in Dubai and ensures the rights of both tenant and landlord. Ejari essentially translates into ‘My Rent’ in Arabic. It is an initiative by the Real Estate Regulatory Agency (Rera) to regulate and facilitate the rental market of Dubai, it effectively manages the relationship between landlords and tenants in Dubai. How does Ejari work? If you’ve signed a rental...
The Dubai Marina area saw the highest number of transactions Dubai’s real estate market witnessed 84,772 transactions valued at Dhs300bn in 2021. The emirate recorded a 65 per cent growth in the number of real estate transactions and a 71 per cent increase in value last year compared to 2020, according to the annual transaction report issued by the Dubai Land Department (DLD). A total of...
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