50 billion dirhams economic stimulus plan for Abu Dhabi now unveiled

17 September 2018

Abu Dhabi’s drive to accelerate its economic growth will come under the banner of Tomorrow 2021, the Crown Prince revealed on Sunday, in what marks the culmination of a summer of reforms aimed at preparing the emirate for a more prosperous future.

Sheikh Mohammed bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces, said the plan includes “50 initiatives that reflect the priorities of citizens, residents and investors”. The move is part of an action … Read more ›

5 year retiree visa plan announced

17 September 2018

Abu Dhabi: The UAE Cabinet on Sunday approved a law that would allow expatriates to stay on in the country long after they retire.

The law, which will be in effect as of 2019, outlines the requirements to qualify for the long-term visa such as having an investment in a property worth Dh2 million, or having financial savings of no less than Dh1 million, or having an active income of no less than Dh20,000 per month. And as long as these conditions … Read more ›

Announcement from Bayut

04 September 2018

Startups have taken over the world at large and the UAE too follows this trend, where home-grown startups and international players are luring customers with innovative technologies and unique concepts. To stand out in this extremely competitive crowd and attract investors from across the world, requires a combination of innovation, commitment to excellence and a steady growth in revenue. Bayut exemplifies these qualities and has already established itself as a unique and reliable entity in the UAE property market. The recent … Read more ›

Further news on the stimulus plan to spur growth in Abu Dhabi

23 July 2018

The Abu Dhabi Department of Economic Development is implementing seven of the 10 strategic initiatives linked to a three-year Dh50 billion stimulus package for the emirate unveiled in June, its head told The National on Sunday.

The package, announced by Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, is aimed at supporting entrepreneurs, small to medium sized businesses and the private sector by bolstering growth, attracting more foreign direct investment and … Read more ›

Reduced prices and optimistic economic outlook provide excellent investment opportunities

12 July 2018

Residential sales and rental prices fell in most neighbourhoods across Abu Dhabi in the first six months of 2018, albeit at a slower pace witnessed in previous months as market sentiment improves on the back of rising oil prices, according to a new report published on Thursday.

Average apartment rental prices were “modest” for the most part, with year-on-year decreases ranging from around 3 to 9 per cent in different locations during the first half of the year, according to real … Read more ›

Eid Al Fitr 2018 holiday announced for UAE private sector

12 June 2018

The Eid Al Fitr holiday for private sector employees will be Shawwal 1-2, the Ministry of Human Resources and Emiratisation announced on Tuesday.

Depending on when Eid begins, Shawwal 1 will either coincide with Friday, June 15, or Saturday, June 16.

“It is decided that the first and second days of the month of Shawwal 1439 Hijri shall be a paid vacation for all private sector employees on the occasion of Eid Al Fitr,” a circular issued by Minister Nasser Al Hameli … Read more ›