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    Why construction industry is booming in Dubai

    The cost of construction in the UAE is lower than most - if not all - developed cities mainly due to intense competition and low wages in the construction industry, a new report reveals.

    According to a report by the UK-based construction services firm Turner & Townsend, Dubai has been ranked the 28th expensive place for construction and rated 'lukewarm' for tendering conditions, characterised by rising prices and growing competition for projects.

    The"...

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    Dubai Chamber explores potential of IT markets in Russia, BelarusMay 23, 2018

    The Dubai Chamber of Commerce and Industry recently led a study mission to Russia and Belarus which explored business potential within the countries’ IT markets, as well as prospects for new partnerships and joint ventures in several innovation-focused sectors.

    The study mission, led by Omar Khan, Director of International Offices at Dubai Chamber, included visits to Moscow and Minsk where delegates held high-level meetings with officials and representatives from the Moscow Chamber of Commerce and Industry, Skolkovo Innovation Centre, Russian Export Centre, Belarus Chamber of Commerce and Industry, and Belarus Hi-Tech Park, while delegates also attended the SVIAZ IT Exhibition in Moscow, the largest IT"...

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    Samsung launches Galaxy A6, A6+ in UAEMay 23, 2018

    Samsung Gulf Electronics has announced the launch of the Galaxy A6 and A6+ smartphones in the UAE.

    Featuring a powerful front and rear camera, a sleek premium design, super AMOLED screens and Samsung’s signature Infinity Display, the new Galaxy A series is available in three colours; Black, Gold and Blue.

    “Here in the UAE, consumers are always looking for more from their smartphones. They are quick to adopt the best technology on the market, and we take pride in being able to consistently bring them the advanced devices they’ve come to expect,” said Tarek Sabbagh, head of IT and Mobile (IM) Division at Samsung Electronics Gulf.

    “With the Galaxy A6 and"...

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    Mubadala to sell EMI Music stake to Sony in $2bn deal

    Sony is buying EMI Music Publishing, getting its hands on a catalogue of 2.1 million songs from Beyonce, Carole King and other artists as it embarks on a new growth plan built on content and services.

    The Japanese company will buy about 60 percent equity interest from a consortium led by from Mubadala Investment Co. for about $2 billion, Sony said in a statement.

    The Tokyo-based company already owns almost 40 percent of EMI, operates the business and had been in talks to buy the library for the past few months.

    EMI’s"...

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    Sharjah Healthcare City project set to double in size

    Sharjah Healthcare City Authority (SHCC) on Tuesday announced that the Abu Dhabi-based Ahalia Group has been awarded the permission to set up a $100 million 120-bed hospital in the emirate.

    The multi-specialty hospital spread across 50,000 square metres is the first hospital to set up within the mega healthcare city, state news agency WAM reported.

    Ahalia Group had signed an MoU last year with SHCC, and that has as enabled both the entities to move forward with the hospital which will be built in Al Rahmania side of the healthcare city. Construction is set to begin by the"...

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    UAE Aviation Sector: Leadership in the Skies, Excellence on Land: Report

    The UAE’s aviation sector is forging ahead with a steady growth, benefitting from a wide range of expertise and achievements in providing advanced international airport solutions that have boosted the stature of the UAE’s national carriers.

    From an early stage, the UAE government has realised the importance of the aviation sector to the country’s overall future sustainable development, so it constructed international airports, established leading international aviation companies, and invested billions in its infrastructure. The Dubai International Airport now leads globally in terms of the number of international travellers while"...

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    Incentives galore for UAE residential tenants

    Tenants and buyers are in the driving seat across the UAE as both villa and apartment sales and rents have seen an annual decline across the board. Incentives such as multiple cheques, rent-free periods and the absorption of utility, maintenance or agent fees are becoming the norm.

    John Stevens, managing director of Asteco, said tenants are increasingly taking advantage of declining rents across the board and choose to upgrade from apartments to villas or to better-quality and larger units. However, many remain cautious due to economic uncertainties or are waiting for further reductions.

    'People are also moving from older to newer buildings, as these often include parking and other facilities"...

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