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Dubai UAE News

19% surge in new license issuance in Dubai

This highlights the resilience of the business environment of Dubai and the emirate’s economic competitiveness and ability to attract businesses to across various sectors…reports Asian Lite News

The Business Registration and Licencing (BRL) sector of Dubai Economy has issued 15,475 new licences during the first quarter of 2021, a growth of 19 percent compared to Q1 2020, when 13,027 licences were issued.

This highlights the resilience of the business environment of Dubai and the emirate’s economic competitiveness and ability to attract businesses to across various sectors.

Of the new licenses issued in Q1 2021, 58 percent were professional (8,935), followed by 41 percent commercial activities (6,290), and the rest distributed among the tourism and industrial activities.

In terms of distribution of the new licences according to location, Bur Dubai accounts for the largest share (8,220), followed by Deira (7,236), and Hatta (19). The top sub-regions were: Al Fahidi, Burj Khalifa, Al Khabaisi, Port Saeed, Trade Centre 1, Al Marar, Al Barsha 1, Naif, and Riggat Al Buteen.

During the first quarter of the year, 99,887 business registration and licencing transactions were completed, a growth of 8 percent compared to 92,325 in Q1 2020, demonstrating the vital role of Dubai Economy in delivering value-added services to the public in Dubai.

License Renewal accounted for 38,090 transactions during Q1 2021, a 4 percent growth compared to Q1 2020 (36,484). This underlines the benefits from the economic stimulus package launched by H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council, which allows renewal of commercial licences without lease contract.

Auto Renewal via text messages during Q1 2021 accounted for 20,923, 16 percent growth compared to Q1 2020 (18,061). The number of Trade Name Reservation was 17,397, Initial Approvals reached 13,914, and the total number of Commercial Permits was 3,077.

Dubai Economy highlighted the importance of collaborative work by the government and private sectors. The private sector supports economic development by launching competitive and value-added projects under the wise leadership of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai.

‘Invest in Dubai,’ the first integrated digital business set-up platform, simplifies the business journey without the need to visit service centres. The platform provides initial approval, reservation of a trade name, issuance of instant licences, Dubai SME licences, Intelaq licences, DED Trader licences, in addition to electronic Memorandum of Association, and the renewal of commercial licences.

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Dubai UAE News

Dubai real estate transactions hit AED92 bn

The bulletin revealed that the real estate sector in the emirate will continue to attract more real estate investors, thanks to its strong infrastructure and attractive investment opportunities…reports Asian Lite News

Dubai has registered 25,455 real estate transactions worth AED92 billion from January – April 2021, thus achieving an increase of 51 percent in terms of the number of transactions and 72 percent in terms of their value compared to the same period in 2020.

According to the real estate bulletin issued by Dubai Land Department (DLD) under the name ‘Real Estate Updates,’ the real estate sector showed robustness and an ability to adapt to various circumstances and developments.

The bulletin revealed that the real estate sector in the emirate will continue to attract more real estate investors, thanks to its strong infrastructure and attractive investment opportunities. 8,749 new investors entered the market from January – April 2021, representing 65 percent of the total number of real estate investors registered in that period, with a growth of 54 percent compared to the same period in 2020.

The bulletin also showed that the total value of real estate investments during the aforementioned period reached AED36 billion, an increase of 44 percent compared to the same period in 2020. This confirms the continued flow of real estate investments since the beginning of the year at a high rate, which also strengthens the trust of local and international investors alike.

187,949 Ejari contracts were recorded in January – April 2021, 58 percent of which were new contracts and 42 percent were renewed contracts.

The bulletin highlighted the top five areas for investor attractiveness. In villa sales, Hadaeq Sheikh Mohammed Bin Rashid topped the list in April 2021, followed by Palm Jumeirah, Wadi Al Safa 5, Wadi Al Safa 7, and Al Yelayiss 2. In apartment sales, Dubai Marina, Burj Khalifa, Palm Jumeirah, Business Bay, and Al Thanyah Fifth topped the list in April 2021.

It is expected that the real estate sector will witness increased growth and a greater recovery in the coming period following the permission of Dubai’s Supreme Committee of Crisis and Disaster Management to submit electronic permit applications for business activities of all kinds, in addition to the fast-approaching date of Expo 2020, which in turn will attract tourists and visitors from around the world and will constitute a great opportunity for the real estate sector to strengthen its position regionally and globally.

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Dubai Travel & Tourism UAE News

Dubai hotels to comply with sustainability requirements

Due to the global COVID-19 pandemic, the deadline was extended for an additional 12 month, a decision that Dubai Tourism took to strengthen the foundations for recovery of the hospitality sector…reports Puja Gupta

Dubai’s Department of Tourism and Commerce Marketing (Dubai Tourism) mandates that all hotels comply with the Sustainability Requirements for Hotel Establishments by the deadline of July 1, 2021, as set by Dubai Sustainable Tourism (DST), an initiative to further enhance Dubai’s position as one of the world’s leading sustainable tourism destinations.

Under the directive, hotels must also resume monthly submission of carbon emission drivers. The system has the long-term objective of advancing sustainability performance across the sector. Back in 2019 Dubai Tourism led by DST trained 528 hotels on the implementation of these sustainability standards and currently inviting hotels for a refresher webinar ahead of July 2021.

Due to the global COVID-19 pandemic, the deadline was extended for an additional 12 month, a decision that Dubai Tourism took to strengthen the foundations for recovery of the hospitality sector. The progress on implementation of the mandatory standards will be tracked by hotels and audited by DST.

Yousuf Lootah, Vice Chairman of Dubai Sustainable Tourism, said: “Over the past year, the strength of the city’s tourism industry is reflected in the safe and successful reopening of Dubai to domestic and international visitors. In alignment with the city’s wider carbon reduction strategy, we know that tourism can also be an area where Dubai truly sets the benchmark at a global level with forward-thinking sustainability and corporate social responsibility practices. We strongly encourage hotels to comply with the 19 Sustainability Requirements set by Dubai Tourism and provide Carbon Calculator submissions by 1 July. We know that with the ongoing support of the relevant government bodies these hotel establishments can play a huge part in achieving the overall carbon emission reduction target over the next year and beyond.”

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The 19 Sustainability Requirements include sustainable management approaches, performance metrics, energy, food and water management plans, guest education, employee training initiatives, the presence of sustainability committees within hotel establishments and corporate social responsibility programmes for local communities. Through improving internal sustainability operations, hotel establishments in turn will enhance the competitiveness of Dubai’s tourism-linked economy. These requirements support Dubai’s Carbon Abatement Strategy 2021 target to reduce the carbon emissions by 16 percent by 2021, overall.

Since its inception in January 2017, the Carbon Calculator � part of the Tourism Dirham Platform, is a tool that has been measuring the carbon footprint within Dubai’s hospitality sector. On a monthly basis, hotels submit their consumption of 11 carbon emission sources, including: electricity, district cooling, water, waste, fuel for transportation, fuel for generators, fire extinguishers, and liquefied petroleum gas for analysis. This information is aggregated and analysed to provide valuable industry insights on the sector’s collective carbon footprint. In addition, by formulating a baseline along with consistent tracking, this information enables hotels to understand their energy, water and waste consumption and further identify successful cost-saving opportunities.

DST will be hosting virtual information sessions for all hotels between May 23 � 27 , 2021 on the Sustainability Requirements.

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-Top News UAE News

UAE finance minister passes away

UAE President Khalifa bin Zayed ordered that flags be flown at half-mast across the country until Saturday to mark three days of mourning…reports Asian Lite News

https://www.youtube.com/watch?v=ghqdeK_ryug

United Arab Emirates’ Finance Minister and deputy ruler of Dubai, Hamdan bin Rashid Al Maktoum, has died on Wednesday, the Dubai media office said.

He was the brother of Mohammed bin Rashid Al Maktoum, UAE Prime Minister and ruler of the emirate of Dubai. Hamdan, who was 75 years old, had been finance minister since 1971, when the country was founded.

UAE President Khalifa bin Zayed ordered that flags be flown at half-mast across the country until Saturday to mark three days of mourning, according to a statement by the official news agency WAM, DPA news reported.

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Meanwhile, Dubai announced a 10-day mourning period.

Funeral prayers will be restricted to family members due to the coronavirus pandemic, the Dubai media office added.

Hamdan had been unwell, his brother Mohammed wrote on Twitter earlier this month, wishing him well.

He underwent surgery abroad last year, though further details were not disclosed.

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