1,105 Commercial and Industrial Activities Owned by Non-UAE Nationals Get 100% Ownership in Abu Dhabi

27 July 2021

Abu Dhabi – The Abu Dhabi Department of Economic Development recently released a list of business activities that are eligible for full business ownership offered in the UAE’s capital.

Existing owners and investors who fit the category have the privilege to change their status, given that they comply with the provided regulations and restrictions set forth.

Presently, there has been no confirmation on whether additional activities will be included in the list going forward. The Economic Departments of the other emirates will … Read more ›

Yas Creative Hub for Media and Gaming set to be Launched in November

26 July 2021

Abu Dhabi – Yas Creative Hub, the first industry-specific hub in GCC for media, entertainment, and gaming, is set to house Twofour54 Abu Dhabi, the capital’s media free zone, by Q4 this year.

Media and gaming giants CNN, Ubisoft and Unity Technologies have already confirmed to join, and more than 600 companies are expected to follow suit.

The megaproject spreads over 2.9 million sq.ft. (270,000 sq.m) and 16,000 + professionals will relocate to the new campus by 2031, three times as many … Read more ›

Long Eid Al Adha Holiday Announced for Private and Public Sectors

18 July 2021

UAE: The Ministry of Human Resources and Emiratisation announced last week that private sectors in the country shall get four days holiday, starting from 19th July to 22nd July.

The said holiday is in celebration of Eid Al Adha which will start on 9th Dhu Al Hijjah (Day of Arafat), falling on Monday, 19th July, and will end on Thursday, 22nd July, following the Islamic calendar. The celebration will be paid holidays for all workers in private sectors, institutions and companies … Read more ›

HSBC to allot $5 billion for UAE Growth Initiative

15 July 2021

In celebration of its 75th year in the UAE and the nation’s Golden Jubilee, HSBC recently announced its plans of committing $5 billion lending to assist strong companies in need of new capital to grow their businesses globally.

The initiative was made in support of its celebration of being the first bank to open its doors in the UAE and of the nation’s strategy of fortifying global standing by financing businesses looking to invest in international growth by way of sustainability … Read more ›

Q1 2021 Abu Dhabi Real Estate Market Status

15 July 2021

In 2020, a number of measures to support the nation were implemented by the Abu Dhabi government in order to stimulate and raise the declining real estate market.

These initiatives had helped retain public confidence in the sector and had led to further demand, boosting interest.

About 1,700 apartments and 50 villas were recorded by Asteco to have been delivered in the first quarter of 2021, with 11,600 additional residential stocks (11,000 apartments and 600 villas) expected to enter the fast-paced market … Read more ›

Why a Dynamic Rise in the UAE’s Economy is Inevitable Post-Covid

15 July 2021

The onset of the COVID-19 pandemic in 2020 has the UAE and the rest of the world in a downward economic spiral.

Educational institutions have shut down, the workforce was mainly made to work from home, the ports and borders were momentarily closed, and a number of people have lost their jobs.

With the whole world drawing a blank on how to face such a global crisis, the UAE government was quick to act and combat this drawback: PCR tests were readily … Read more ›