I hope you have had a wonderful week. Those of us living and working in Dubai have been enjoying the fun and relaxation of Eid celebrations across the city after the sacred festival of Ramadan came to a close on Sunday 1st May.
In 2022, with the drive toward a healthy work-life balance being more prominent now than ever, we are all looking at new ways to get the best out of our ventures without sacrificing the things that are important for our happiness and wellbeing.
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Now, let’s take a look at all the headlines that caught our attention this week. I always try to summarise the links to save you from having to click through.
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Property News This Week
Dubai Now Known As World-Leading Haven for Businesses – As the world was busy being shaken up by the onslaught of the pandemic, a few cities around the world had other ideas. From the very beginning, the government of Dubai saw the crisis as a unique opportunity to get ahead with the evolving needs of both residents and businesses. Developments in the pipelines were innovatively adapted to offer more of what was needed; space, freedom and safety. According to Bloomberg’s Covid Resilience Ranking, Dubai’s positive action throughout the pandemic has earned the city the number one spot for effective covid handling with minimal socio-economic disruption. US-based advocacy group, the Consumer Choice Center, has also commended the UAE for reaching first place in their most recent Covid-19 Pandemic Resilience Index.
- Dubai Implements Favourable Residency Rule Overhaul – April 18th marked an important day for the Emirate of Dubai as it revealed a top-to-bottom revamp of its residency rules, which will come as welcome news to the many thousands of overseas visa holders living in the city and to those who are looking to move there. Among the changes, the Emirate will offer a no-sponsor criteria for residency under two of their newest visas. Skilled professionals, innovators and investors can now also take advantage of the five-year Green Visa, with its increased flexibility and unique perks. Most exciting of all, perhaps, is the ten-year Golden Visa extending its already-generous criteria to those of exceptional talent, now including students and graduates, humanitarian pioneers and scientists.
- Dubai Saves Dh1.2billion Worth of Energy in a Decade – After utilising a variety of conservation programmes over the course of ten years, the DEWA has reported a collective consumer saving of 2.2 terawatt-hours of electricity and 5.6 million imperial gallons of water, amounting to a combined saving of Dh1.2billion over the decade and the added benefit of reducing carbon emissions by 1.1million tonnes. The DEWA has praised consumers for their positive response to the various initiatives, incentives and strategies adopted throughout this time, with society working as one to achieve the goal of sustainable and environmentally responsible living. With this huge success now achieved, the city is well on target for reaching its goal to reduce electricity and water consumption by 30% over the next eight years.
- Dubai’s Luxury Market Continues Smashing Records in 2022 – With demand for luxury property soaring to ever-increasing heights among overseas buyers, Dubai’s prime market niche has already seen its fair share of record-breaking sales in the first half of 2022. As completed developments are being snapped up at an astonishing rate, competition for the best residences in the most coveted communities across the city remains fierce. Over the past decade, the Dubai government have gone to extraordinary lengths to create an attractive and welcoming landscape for overseas residents, celebrating a diverse and multi-cultural community where the quality of life is high. With sales still high after the flurry of activity from Expo 2020 and the recent government visa overhaul, analysts predict the Dubai luxury market will continue to flourish in the next half of the year.
That is all we have for you this week. If you have any comments or questions on this week’s news summary then please feel free to send us an email at [email protected] – if not, see you next week.