NeoFin AE

Open to all UAE residents aged 18 and above who don’t currently own a home in Dubai, the programme is designed to make owning property more achievable for both Emiratis and expats.

The First-Time Home Buyer Programme, introduced by the Dubai Land Department and Dubai Economy & Tourism, offers special access to new property launches, better pricing, and customised mortgage options.

Leading developers like Emaar, Nakheel, and DAMAC are on board, offering units up to AED 5 million at preferential rates. Banks including Emirates NBD, CBD, and Dubai Islamic Bank are also providing tailored financing.

This move is part of Dubai’s broader strategy to strengthen the real estate sector, encourage long-term investment, and build inclusive communities.

The UAE is cracking down on companies that keep workers on record without offering real jobs. Over 1,300 businesses were found inactive, leading to more than AED 34 million in fines and major restrictions.

Authorities are urging business owners to cancel licenses and update worker statuses if operations stop.

Dubai is having a strong year in tourism.

Between January and May 2025:-
- The city welcomed 8.68 million international visitors
- A 7% increase from the same period last year

In May alone, 1.53 million people visited Dubai, showing how the city remains a top choice for travelers around the world.

The hospitality sector is also expanding to meet this demand.

By the end of May 2025, Dubai had 825 hotels with over 153,000 rooms up from 822 hotels and 150,000 rooms in 2024.

From rising visitor numbers to growing hotel capacity, Dubai is setting the pace for global tourism.

The Dubai Mall-Burj Khalifa station has seen strong and steady growth, with passenger numbers crossing 10.5 million in 2024, nearly 58,000 people daily.

To meet this rising demand, the station is undergoing a major upgrade that includes more space, better entrances, improved platforms, and increased fare gates.

The design stays true to the metro’s iconic seashell-inspired look while focusing on safety, smoother passenger flow, and full accessibility for all, including seniors, families, and People of Determination.

The Emirates Group has announced a record-breaking half-year financial performance, posting a profit before tax of AED10.4 billion ($2.8 billion) for the first half of 2024-25, surpassing last year’s results for the same period. This is the first financial year Emirates has applied the UAE's new corporate income tax, bringing its profit after tax to AED9.3 billion ($2.5 billion). Demonstrating operational resilience, the group maintained a robust EBITDA of AED20.4 billion ($5.6 billion), only slightly below last year’s figure, with revenue increasing 5% to AED70.8 billion ($19.3 billion).

This revenue growth reflects strong customer demand across all business divisions and regions. Emirates closed the half-year with a cash position of AED43.7 billion ($11.9 billion), using its reserves to support strategic initiatives, including new aircraft purchases and debt repayments, while distributing AED2 billion in dividends. These results highlight Emirates' financial stability and commitment to growth.

Dubai Taxi Company (DTC) has reported strong financial performance, with EBITDA rising 20% year-on-year to AED 432.2 million at a 27% margin. This growth reflects DTC’s focus on cost optimization and commitment to sustainability, as over 85% of its fleet is now hybrid or electric.

Profit before tax increased by 19%, though net profit saw a 7% dip due to corporate tax and higher interest costs. Despite these impacts, DTC maintains a robust balance sheet, with a net debt to EBITDA ratio of 1.3x and a cash balance of AED 272.3 million as of September 2024.

The UAE's non-oil business sector recorded moderate growth in October, with the Purchasing Managers' Index (PMI) rising slightly to 54.1 from 53.8 in September, according to S&P Global.

Despite increased output, demand softened to its lowest since early 2023, leading to slower job creation and reduced selling prices amid rising competition. Firms, however, remain optimistic about future growth, supported by steady sales pipelines and easing input costs.

This shift highlights both resilience and evolving challenges within the UAE’s non-oil economy.

Sharjah’s real estate market reached AED 28 billion ($7.62 billion) in transaction value during the first nine months of 2024, marking a 47% increase from last year.

According to Sharjah Real Estate Registration Department, this growth reflects strong investor confidence and interest from 114 nationalities. Residential properties led the surge, with transaction volumes driven by supportive initiatives and ongoing development projects. This upward trend signals robust potential for future real estate investment in Sharjah.

May this Diwali bring universal compassion, inner joy of peace and love!

UAE banks have extended AED 81.2 billion ($22.1 billion) in financial facilities to small and medium-sized enterprises (SMEs) by the end of the first half of 2024, according to the Central Bank of the UAE (CBUAE).

This represents 9.5% of the total cumulative balance of financial facilities provided to the commercial and industrial sectors.

SMEs are a crucial part of the UAE's economy, comprising over 95% of the total number of companies and employing 86% of the private sector workforce.

Eid Al-Adha Mubarak to you and your family! May this special day be filled with happiness, delicious food, and unique traditions.

The global wealthy are planning to invest nearly $800 million in homes in Abu Dhabi and Ras Al Khaimah.

High-net-worth individuals (HNWIs) are interested in purchasing residential real estate, with $408.3 million allocated for Abu Dhabi and $388.5 million for Ras Al Khaimah, according to new research by Knight Frank.

The study surveyed 317 HNWIs, including 217 from around the world and 100 from the Gulf Cooperation Council (GCC) region. Together, these respondents possess a combined net worth of $5.4 billion and own 1,149 homes globally.