July 15, 2020

Rafeeg, the first application in the UAE for maintenance services and decoration, has achieved great success by launching its new updates, which will add significant value to the platform’s existing services.

The new feature called “Commercial Buildings Services” is in line with Abu Dhabi’s Government vision and municipality law issued early in January.

The Abu Dhabi Municipality framework"...

July 14, 2020

Work is nearing completion on a solid waste treatment plant that will produce refuse-derived fuel (RDF) at the Marine Environment Research Centre in Umm Al Qaiwain.

Once operational, the AED132 million ($36 million) plant will process the solid municipal waste generated in Ajman and UAQ to produce energy to power cement plants that usually rely on charcoal for their operations.

The 400,000 sq m facility will"...

July 14, 2020

DUBAI, 13th July, 2020 (WAM) -- Jebel Ali Free Zone, Jafza, has recently recorded 10.6 percent growth in the retail and e-commerce sector with a total trade value of AED37.6 billion despite the sudden challenges facing both regional and global economy.

More than 1,000 companies from 96 countries play a pivotal role in Jafza's retail and general trading sector. Approximately 39 percent of these companies are from the Middle East, 30 percent from Asia, 15 percent from Europe, nine percent from North America, seven percent from Africa and one percent from Oceania. In total, they employ more than 10,000 personnel and operate across combined"...

July 12, 2020

Amancio Ortega

After making a fortune in clothing, Amancio Ortega has turned his attention to real estate.

The Spanish billionaire’s property holdings have soared to €15.2 billion (Dh63.2bn), his firm revealed, giving him the largest real estate portfolio among Europe’s super-rich.

Mr Ortega, 84, the founder and owner of fashion label Zara, invested €2.1bn in real estate last year through various subsidiaries of his holding company Pontegadea, according to an emailed"...

July 9, 2020

HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, has officially inaugurated the operations of AED11 billion ($2.9 billion) Route 2020 project, which involves the 15 km extension of the Dubai Metro Red Line from Jebel Ali Station to Expo 2020 linking seven stations. It will be open to the public in September this year.

The project is part of RTA’s master plan to provide integrated multi-modal mass transit systems comprising of the metro, tram, buses and marine transport.

"...

July 8, 2020

The UAE banking sector is well-capitalised and resilient to absorb significant macro-financial shocks, the Central Bank said on Tuesday.

The apex bank said the UAE banking system entered 2020 from a strong position despite the significant uncertainties from the Covid-19 pandemic.

'Capital ratios and liquidity buffers of the banking sector remained adequate and well above regulatory requirements. The banking system remained profitable with improved cost-efficiency benefitting from efficiency gains related to recent mergers in the sector,' the central bank said"...

July 8, 2020

Dubai should be the 'first city of choice' for the investors and all the stakeholders in the economy are working towards that, this was positive message sent by the top real estate players at the unveiling of Invest in Dubai on Tuesday.

The Dubai Land Department (DLD), through the Promotion and Real Estate Investment Management Sector, launched its new 'Invest in Dubai', a year long virtual initiative under the theme 'Discussing the opportunities that arise from Dubai as a real estate investment destination'.

The initiative aims to highlight"...

July 8, 2020

DUBAI, 7th July, 2020 (WAM) -- The Dubai Land Department, DLD, through the Promotion and Real Estate Investment Management Sector, launched its new ‘Invest in Dubai’ initiative under the theme ‘Discussing the Opportunities that Arise from Dubai as a Real Estate Investment Destination’.

The initiative aims to highlight Dubai’s position in real estate on a global front. It also sets out to confirm the vision and aspirations of Dubai, being a leading city in the world underpinning various real estate investment projects through an automated, virtual platform that features everyone operating in this field, including"...

July 7, 2020

DUBAI, 6th July, 2020 (WAM) -- H.H. Sheikh Hamdan bin Rashid Al Maktoum, Deputy Ruler of Dubai and Minister of Finance, has issued directives to exempt business tenants of Dubai Developments Group properties in the emirate, including small firms and entrepreneurs, from paying rents for periods ranging from three to six months.

The relief package worth AED200 million is an initiative from H.H. Sheikh Hamdan bin Rashid aimed at supporting the economy as well as the entrepreneurial and real estate sectors. The gesture is aimed at mitigating the financial pressures faced by tenants due to the novel coronavirus, COVID-19, pandemic and its repercussions"...

July 5, 2020

Dubai Electricity and Water Authority (Dewa) said it will be organising the eighth edition of Future Engineer summer camp online, in collaboration with Emirates Science Club.

The event, which kicks off tomorrow (July 5), will covers several ey topics such as electronics, cyber-security, robotics, 3D printing and augmented reality.

Around 30 Dewa staff children, in the age group of 12 and 15 years, are attending"...