It’s been a month since the government announced some significant changes to residency visas and company ownership rules. Read more here

Since then, there have been more announcements from the UAE government who continue with their stated mission to increase competitiveness, openness and to create an economy which is non-reliant on fossil fuels.

- Read about the 6-month job seeker visas and amnesty for overstayers

- Read about the new Freelancer Permits for those in Education and Media

- Read about the Dh 14 billion that will be returned to private sector companies

Everyone is speculating on the details and on how quickly these law changes will take affect on the economy once they come into force in a few months time.

Suffice to say that it's all very positive for business and for residents plus those planning to relocate or to invest in the country.

This week’s property discussions have included the following:-

Driving with the Arabian Gazelles, Dubai's all-female supercar club

Not that long ago, Hanan Mazouzi Sobati faced flagrant sexism at track days in Dubai. An ardent petrolhead, Sobati would go to drive her sports car fast -- really fast -- but many of the overwhelmingly male drivers couldn't see past her gender. "They always thought I was someone else, accompanying someone. I was just there to support him, or to sit in the passenger seat," she recalls. "(It's) as if they didn't see me."

Fellow enthusiast Jalyn Jarvi echoes the sentiment. "You pull up and they expect you to be somebody's girlfriend or wife," she adds. "Everybody's staring at you and it's a little bit uncomfortable."

"It started hitting me that not only they don't expect you to be there, you're not really welcome," says Sobati. Amid the engine noise and tire smoke, an idea was sparked -- one that would become the Arabian Gazelles, Dubai's first all-female supercar club.

There will never be an oversupply of good properties

Danube Properties has studios for sale from Dh290,000 at International City project.

Developers are back at testing the waters after a relatively quiet first half of the year. While the first six months of 2018 saw developers launch 7,000 units in Dubai, this was a small number in comparison with the 19,975 homes launched in the corresponding period a year ago, according to data from Reidin.

Danube Properties has launched its 11th project, titled Lawnz, in phase one of International City. The launch comes close on the heels of the developer reportedly selling out 95 per cent of its previous project, Jewelz in Arjan, launched in March 2018.

Look: NASA shows Dubai’s 34-year change

Images from space shows exactly how Dubai, and other cities around the world, have changed in the last 30 years.

The progress and development of the Dubai emirate has been a remarkable one.

The city of Dubai evolved and expanded from the simple life of the desert into the skyscrapers, mega structures and reclaimed land projects to which we see today.

Over the last 30 years, Dubai has grown into the home of some of the world’s most famous structures, such as the Burj Khalifa, the Burj Al Arab and the Palm Islands, with the capacity to accommodate over 3 million people.

BusinessSteven Leckie18 June 2018Burj Khalifa, Dubai evolution, Dubai trends, NASA imagesComment

Bullet-Point Property: Dubai No. 83

Eid Mubarak

Throughout the last decade, Dubai was all about the greatest, tallest and the largest but now the city is focused on quality of life and reasons for choosing to live here.

From my experience and also according to numerous international surveys, Dubai is one of the safest cities in the world, and we recently learned that it is the 6th most visited city in the world

Now Dubai has been ranked number 18 in the Deutsche Bank’s 2018 quality of life index, which graded 50 global cities on eight measurements including quality of health care, cost of consumer goods and housing affordability, which was measured by the ratio of property price to income. Read more here

This weeks property discussions have included the following:-

Sheikh Mohammed announces new job, visa rules in UAE

Insurance system to replace bank guarantee for employment, 48 hours free visa for transit travellers.

The Cabinet, chaired by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, adopted a number of strategic decisions with regards to foreign workers' insurance in the private sector, as well as a legislative package of visa facilitations.

A new insurance scheme for workers' guarantees has been introduced. The previous mandatory deposit of Dh3,000 per worker is now replaced by a new insurance that cost only Dh60 annually per worker.

The newly created scheme secures workers' rights in the private sector and reduces the burdens on employers. It allows businesses to recover approximately Dh14 billion, representing the value of current guarantees paid by employers, which will enable them to further invest in the development of their business. The system also enhances the ease of doing business in the UAE, which effectively contributes to market prosperity and growth.

Business, UAE LawsSteven Leckie14 June 2018working in Dubai, UAE visas, Dubai laws, Dubai tourism, Dubai visaComment

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

Now get a freelancer permit for just Dh7,500 a year

New package by Tecom covers a wide range of roles in the fields of media and education.

The TECOM Group has introduced a first-of-its-kind package under which you can become an independent freelancer in the fields of media and education.

The package, which comes for just Dh7,500 a year, is inclusive of the Freelancer Permit and access to a Business Centre. Assistance is also provided if the applicant requires a visa.

Business, Visas and RetirementSteven Leckie13 June 2018working in Dubai, UAE visas, Dubai visa, freelancer visa DubaiComment

Room for growth in Dubai's affordable sector

Affordability is not a word synonymous with Dubai but a burgeoning young and middle-income population is putting pressure on the government to reinvent the city’s residential real estate model for the next generation.

And investors are starting to take notice.

Dubai’s population is set to hit five million by 2030, but house prices remain unaffordable for many of the lower and middle income families on whom the city’s future economic success depends.

“The government recognizes the need to re-position Dubai for broader appeal,” said Craig Plumb, Head of Research, JLL MENA. “It needs middle income workers in its hospitals and schools but, at the moment, those families find it difficult because of such high rents and sale prices are beyond the reach of many.

“As other cities in the region become more competitive, this shortfall could potentially damage Dubai’s economy,” he added.

The increasing importance of wills amid economic change

Long-term residents will wish to protect and preserve their good fortune for the next generation.

The UAE has always been an engine for change in the Middle East and the next big transformation is just around the corner.

Changes in business and residency law are planned which will have sweeping effects on the lives of non-Emirati residents. They will affect how we do business, where we live, how we invest and, ultimately, how we plan our future and those of our families.

Bullet-Point Property: Dubai No. 82

Did you know that you can fly from Dubai to one-third of the world's countries within four hours, and to two thirds within eight hours?

In short, Dubai has enviable commercial geography, and the government has leveraged this in three ways: trade, transport and tourism. These three Ts underscore a strategic diversification that has created an oil-independent economy in the thriving emirate.

What's more, Dubai seems eager to add a fourth "T" to the mix: technology. The emirate has made a name for itself as a tech start-up hub and appointed a Minister for the Future to drive tech initiatives.

Read CNN’s article on how Dubai is a model for economic diversification

Thank you to the many people who responded to last week’s Bullet Point property email, if you missed it then it can be read here

This week’s property conversations have included the following: -

Home sharing is caring - and simpler

It was during a trip to Dubai in early-2017 that Anna Skigin realised there was a business opportunity waiting to be tapped. Although the Department of Tourism and Commerce Marketing had legalised Airbnb and holiday homes in Dubai in 2016, the concept of sharing economy had not really taken off in the city and the wider region.

"No one really knew the rules or how to get started. For those who knew, it seemed like a major hassle to get licensed and manage guests, cleaning and maintenance. This seemed like a massive opportunity - to facilitate the whole process and help people earn more money from their properties," recalls Anna. This led her to establish Frank Porter, an Airbnb management company in Dubai that maximises returns for the owners by renting out properties short term via platforms such as Airbnb and Booking.com.

BusinessSteven Leckie9 June 2018Airbnb Dubai, Dubai trends, short term let Dubai, UAE start upComment

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