Dubai launches a Unified Digital Platform to streamline business setup processes, backed by Sheikh Hamdan’s resolution to enhance the investor journey.

The Middle East’s economy and real estate sector are thriving, with substantial growth in the non-oil sector, notably in Saudi Arabia and the UAE, and the construction and real estate sectors playing a crucial role in reducing oil dependency.

Dubai’s new Law No. (1) of 2024 introduces a 20% tax rate for foreign banks, aiming to enhance fiscal governance and align taxation policies with global standards.

Dubai witnessed a decrease in annual inflation to 3.36% in February, driven by lower transportation and discretionary spending costs, alongside robust non-oil private sector growth.

The Central Bank of the UAE enhanced its financial oversight in 2023, conducting examinations across 181 institutions and imposing fines of AED 113.675 million for non-compliance with AML and CFT regulations.

Dubai has experienced its fastest hiring rate in over eight years, driven by a significant increase in consumer demand and new orders in sectors like retail, construction, and tourism.

Dubai’s rental market has seen a remarkable recovery, with a 43.5% increase in tenancy contracts and a 22.0% rise in average rents, indicating strong growth and sector vitality.

The UAE is set to exit the FATF’s “grey list” after addressing deficiencies in its AML, CTF, and anti-proliferation financing frameworks, promising smoother international transactions for MNCs.

The inauguration of the German WIKA group’s factory in Dammam signifies a milestone for German business expansion and innovation in the Middle East, fostering economic and cultural ties between Germany and the region.