Dubai population to double by 2027

On World Population Day, Dubai’s population has surpassed 3 million people, one-third of UAE’s 9.3 million.

As people around the planet observe World Population Day on July 11 to mark the challenges facing 7.6 billion people alive today, experts say cities such as Dubai will have its work cut out for it to accommodate growth while maintaining quality of life and infrastructure.

Dubai’s population has reached 3.086 million people comprising one third of the national UAE population of 9.27 million residents, according to Dubai Statistics Centre figures on Tuesday.

And by 2027, Dubai is expected to jump to more than five million in a city whose population that has grown 1,000 per cent in the last 40 years making it one of the fastest growing cities on the planet thanks to an influx of expatriates seeking work from other countries.

BusinessSteven Leckie10 July 2018Dubai population, Dubai trends, Gulf News, living in DubaiComment

Major changes in UAE visa rules

The previous mandatory deposit of Dh3,000 per worker is now replaced by a new insurance scheme. In a meeting on Wednesday, UAE Cabinet approved reforms including replacing the bank guarantee system for private sector employees, with a low-cost insurance scheme. This will release Dh14 billion back to the private sector companies and will further lower the cost of doing business.

Business, Visas and RetirementSteven Leckie13 June 2018UAE economy, UAE visas, Dubai visa, Gulf NewsComment

Dubai’s property brokers will get a reality check in 2020

Land Department’s blockchain platform will directly impact on their role and commission structures.

Do away with real estate brokers altogether? Where every transaction can be done directly between a buyer and seller — or a landlord and tenant — using an online platform to be put up by Dubai Land Department? And the deals can be sealed and done with the users being anywhere in the world?

Such a scenario is not about to happen overnight — but by the first quarter of 2020, this could be the reality in Dubai’s property market.

10-year residence visa in UAE for investors, doctors, specialists and top students

100% ownership for investors, 10-year residence for investors, professionals and families, plus top students.

To further boost the UAE’s position as a primary destination for international investors and top talent from around the world, the Cabinet on Sunday has adopted a new system of entry visas for investors and professionals — providing them with a long-term visa for up to 10 years.

Reaction: UAE's new 10-year residence visa rule hailed

The decision, made during a Cabinet meeting chaired by His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, further reinforces the UAE’s position as a primary destination for international investors and global talent.

BusinessSteven Leckie20 May 2018UAE visas, Gulf News, investing in Dubai, life in Dubai, living in DubaiComment

69% of adult population in UAE have 'good' jobs

Global research looks at how many people have full-time jobs and are happy or engaged at work.

Although you may be forgiven for thinking the employment market is challenging for job hunters these days, a new study suggests that about seven in ten people in the UAE have a “good job”.

No other country in the world, or any popular expatriate destination, has a higher share.

BusinessSteven Leckie16 May 2018UAE employment, Global Great Jobs, Gallup, UAE infrastructure, Gulf NewsComment

Here’s how many millionaires live in UAE right now

UAE keeps adding millionaires every year and chances are that you could bump into them as you go about your daily routine.

While the UAE produces overnight millionaires just about every month - thanks to lottery draws — thousands of wealthy people from around the world migrate to the UAE every year.

And that is why it may be safe to assume that, as the country’s well-heeled population constantly grows, chances are that you could bump into a millionaire as you go about your daily business.

Dubai’s foreign investment stocks reach Dh505b

The wholesale and retail segment accounted for the lion’s share, followed by the financial sector.

The Dubai Statistics Centre (DSC) announced that foreign investment stocks in Dubai had reached Dh505 billion in 2016, an increase of 25.3 per cent from 2015.

Women and property

If you are a non-Muslim female property owner in Dubai, how do you protect your property? A new statistic released by the Dubai government says that around 30 per cent of Dubai’s property is owned by women. The information came from Sultan Butti Bin Mejren, director general of the Dubai Land Department, who said that this shows the accumulation of large amounts of wealth in female hands.

This shows the UAE as an open and progressive country where men and women are free to make their own choices about investment, according to their own judgement. But as a lawyer, the news also brought a question into my mind. How do the many non-Muslim female property owners in Dubai deal with the delicate question of inheritance?

Dubai’s developers aim big with ‘co-living’ spaces

Emaar launches the Collective at Dubai Hills Estate with young professionals in mind.

A younger buyer profile is starting to figure more prominently in Dubai developers’ plans. And “co-living” spaces are what the developers are building for them where buyers and tenants could aim to live and work within the same neighbourhood.

Emaar has launched the “Collective”, where one-bedroom units start from Dh671,888 at its 11 million square metre Dubai Hills Estate project in MBR (Mohammad Bin Rashid) City. The “functional spaces encourage a connected and collaborative environment that appeals to entrepreneurs, creatives, professionals and families”, Emaar said in a statement on Thursday.

Real estate snapshot: highs and lows of the past decade

It has been a decade since the property market faced its toughest challenges beginning in late 2008. The Dubai real estate market has since undergone a major transformation as it continues to mature and develop in line with the city’s growth.

We spoke to five property market experts to understand the fundamental differences between 2008 and today, the major challenges that the real estate industry had to overcome and continue to grapple with, as well as the industry’s biggest achievements to date.

Dubai best globally for infrastructure: Knight Frank

In a benchmark of Dubai against other key global cities such as London and New York, the city lagged against rivals on issues such as the ease of doing business, but had the best ranked infrastructure of any country listed.

According to data compiled by property consultancy Knight Frank in its annual Global Hub Report, the UAE vastly outperformed every other country in the region when it came to the number of sea freight and international passenger numbers.

The study assesses a country’s strength as a hub for doing business. Other countries benchmarked include Australia, the UK, China, Singapore and the US.

Air freight was also a strong area for Dubai, ranking third behind the US and China, with 16.7 million ton-km.

BusinessSteven Leckie19 March 2018infrastructure development, Dubai trends, Gulf NewsComment

Finland is world’s happiest nation, UAE is 20th

Finland is the world’s happiest country, according to an annual survey issued on Wednesday that put Burundi at the bottom of the happiness index and found Americans were getting less happy even as their country became richer.

The UN Sustainable Development Solutions Network’s (SDSN) 2018 World Happiness Report ranked 156 countries according to their scores for things such as GDP per capita, social support, healthy life expectancy, social freedom, generosity and absence of corruption.

BusinessSteven Leckie14 March 2018happiest country, Dubai trends, Gulf NewsComment

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