Dubai is home to a domestic stock exchange, an international market with one of the largest concentration of sukuk (Islamic bonds) in the world, as well as equity futures and three derivatives platform operators: the Dubai Gold and Commodities Exchange (DGCX), Dubai Mercantile Exchange (DME) and Nasdaq Dubai. The emirate continues to attract...
Dubai saw steady GDP growth of 3.2% in 2017 and is expected to reach 3.5% in 2018, with an increased drive towards consolidating its position as a knowledge-based economy. The emirate is among the most diversified in the region, thanks to factors such as a highly attractive business environment that has brought in large amounts of foreign investment...
Direct participation in Dubai’s large and very active commercial real estate market has long been a challenge for international investors operating in the emirate. Non-UAE nationals are allowed to own or hold property only within the confines of one of a growing number of free zones in the emirate, and then primarily only residential real...
At the beginning of 2017 Dubai’s residential real estate market appeared to be in the early stages of an upswing, in large part because of a surge in off-plan sales. While off-plan sales in the emirate increased by 45% quarter-on-quarter (q-o-q) in the first three months of the year, according to UK-based property firm Chestertons, momentum...
The UAE federal government has exclusive jurisdiction to legislate in relation to UAE taxes. However, no federal tax laws have been established to date. Instead, most of the emirates enacted their own general income “tax decrees” in the late 1960s.
Investments worth $163bn are planned over the next three decades to reorganise Dubai’s energy sources for its water and power needs. The aim is that by 2050 renewable energy will have replaced carbon fuel as the primary component in the emirate’s energy mix. In order to accomplish this, intermediate targets have been set for 2020 and 2030....
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