February 2024 — Topical news of the United Arab Emirates

February 28, 2024 no comments 229
The average residential prices in Dubai surged by 20.1 per cent in the year to December, with apartment prices rising by 19.8 per cent UAE’s property sector broke a decade-long record for home sales last year and the strong activity and performance levels in the country’s real estate...

February 28, 2024 no comments 169
The penalty was implemented to prompt taxpayer compliance with tax laws through timely corporate tax registration The UAE’s Ministry of Finance announced a new Dhs10,000 penalty for businesses that do not do not submit corporate tax registration applications within the timelines...

February 28, 2024 no comments 145
For residents of Dubai’s Damac Hills, Dubailand and Al Barsha the rental increases were particularly severe, according to the 2023 Annual Property Rental Market Report released by online marketplace dubizzle Last year proved to be a buoyant period for the residential real estate sector...

February 28, 2024 no comments 147
The company reported a 100 per cent growth in its airport taxi fleet, adding 350 environmentally friendly vehicles Dubai Taxi Company (DTC) has announced a significant fleet expansion, adding 94 new taxis to its network. This strategic move strengthens DTC’s position as Dubai’s...

February 27, 2024 no comments 169
Over 13,000 ships traverse the Dubai Creek annually and the improvements are targeted at ensuring their safe docking in the area Dubai Municipality plans to spend Dhs112m to fix certain sections of its famous creek that have been damaged and dilapidated over the past 50 years....

February 27, 2024 no comments 172
The issuance marks the first real estate benchmark US dollar-denominated sukuk from the MENA region in 2024 Leading Dubai developer Binghatti has achieved a major milestone with the successful launch of its inauguralsukuk issuance, raising $300m over a three-year term. The sukuk,...

February 27, 2024 no comments 197
The grey-list exit will increase the international community’s confidence in the country’s financial services sector The UAE was removed from the grey list of global watchdog Financial Action Task Force (FATF) on Friday, a decision that could lead to smoother foreign currency...

February 24, 2024 no comments 205
Edge, a leading technology and defence group, has joined forces with major shipbuilder Fincantieri to set up a new joint venture company at an investment of €30 billion ($32.4 billion) to capitalise on global shipbuilding opportunities with a focus on the manufacturing of a broad range of...

February 24, 2024 no comments 155
The three-times-a-week service will depart from Terminal 2 at Dubai International (DXB), on Wednesdays, Fridays and Sundays Get ready to escape the heat and explore the wonders of Sochi, Russia, with flydubai’s new seasonal flights. The flights to Sochi International Airport (AER)...

February 24, 2024 no comments 179
An exit from the grey list marks a swift turnaround for the UAE, which was initially added to the list of jurisdictions under increased monitoring in March 2022 The UAE has been removed from the grey list of global watchdog Financial Action Task Force (FATF) after the country met all...

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