Business

76.5 per cent Dubai companies registered growth during Expo

Published

3 years ago

April 4, 2022

Over 76.5 per cent of companies in Dubai registered growth in their businesses during Expo 2020, while 73.5 per cent built new business relations and entered into new partnerships during Expo, a report commissioned by Dubai Chamber of Commerce indicated.

Around 70.6 per cent of respondents to the survey, conducted as part of the report, said they got benefit from the networking and business matching services provided by the Chamber.

Meanwhile, 47 per cent reported having benefitted from the Global Business Forum series and 47 per cent benefitted from bilateral meetings.

The report titled ‘Business Integration for Growth, Digital Transformation and Global Partnerships’ was developed by the Chamber in collaboration with Oxford Business Group.

In total, Dubai Chamber of Commerce organised 98 events during Expo 2020 Dubai, which were attended by more than 25,000 participants from over 130 countries. The Global Business Forums on Africa, Asean and Latin America saw the most participation, as the high-level forums were joined by government and business leaders, who attended in person and virtually.

The 12th edition of the World Chambers Congress and a series of Thematic Business Forums were also hosted by the Chamber, which were attended by chamber and industry leaders. The events identified global challenges and highlighted innovative solutions to drive sustainable economic growth.

Dubai Chamber of Commerce facilitated 1,500 bilateral business meetings between UAE investors and their global counterparts, and received 1,746 visiting delegations from over 60 countries during the mega event, which were joined by 3,350 government and business leaders.

Seven new economic and professional bodies were licenced by the Dubai Association Centre, which was established in collaboration with the Dubai Chamber of Commerce (one of the three chambers under Dubai Chambers alongside Dubai International Chamber and Dubai Chamber of Digital Economy), the Dubai Economy and Tourism and Dubai World Trade Centre.

The report reveals that revenue per available room (RevPAR) in Dubai in January 2022 increased to Dh460 ($125) compared to Dh293 ($80) in January 2021, marking an increase of 56.3 per cent and outperforming Milan, the host city for Expo 2015, which recorded RevPAR of 54.5 per cent in 2015.

There were 759 hotels and hotel establishments accounted for in Dubai in January 2022 compared to 711 in January 2021, while guest nights in January were at 3.04 million during the same month this year compared to 2.65 million in January 2021.

Arrivals at Dubai International Airport recorded growth of 12.7 per cent in 2021 compared to 2020, while the UAE’s non-oil foreign trade jumped 27 per cent over 2020 and 11 per cent over 2019, a growth trend largely driven by Expo 2020 Dubai.

6 months of culture, creativity, the meeting of minds and shaping the future. #Expo2020Dubai is one of the biggest success platforms, and the beginning of a lot of future achievements through which Dubai will astound the world. pic.twitter.com/YMjRuu2CJ6

— Latifa MR Al Maktoum (@LatifaMRM) April 1, 2022

Commenting on the report, Hamad Buamim, President & CEO of Dubai Chambers, described Expo 2020 Dubai as a historic milestone for the UAE and Dubai. He noted that the pivotal role that Dubai Chamber of Commerce played in facilitating partnerships between UAE companies and their global counterparts during Expo 2020, and expanding Dubai’s rapidly growing business ecosystem.

“Our goal is to be the best chamber in the world when it comes to driving competitiveness and growth. At Expo 2020 Dubai, we have been able to put this mission and vision into action. Our efforts in supporting the mega-event have helped to strengthen Dubai’s reputation as a place to do business”.

“Building on our long-term strategy to embrace digital transformation, we adopted a hybrid format for the Expo 2020 events. Doing so has enabled us to expand our reach and engage with public and private stakeholders from around the world,” he said.

Buamim pointed out that Expo 2020 Dubai is a stepping-stone to a resilient future shaped by innovation, international cooperation, and a more competitive and diversified economy supported by SMEs.

Staff Reporter

Real estate

Why Bollywood’s biggest stars are snapping up homes in Dubai

Published

2 days ago

March 7, 2025

Michael Gomes

Dubai isn’t just a preferred hotspot for travellers — it’s practically Bollywood’s second home. From ultra-glam villas to sky-high penthouses, A-listers from one of the world’s largest movie-making industries are making major real estate moves to the city.

Why Dubai?

With zero property tax, top-tier security, and jaw-dropping luxury, it’s no surprise that Bollywood’s elite are snapping up prime properties here. To be honest, which celebrity would not want a private beach to escape the paparazzi?

The Hottest Real Estate Market

Dubai’s property value is booming, and Bollywood stars know a good investment when they see one. The city’s skyline is expanding, and real estate in premium locations like Downtown Dubai, Palm Jumeirah, and Jumeirah Golf Estates is only going up in value.

Here is a look at which B-Town star owns what in Dubai:

Shah Rukh Khan – Palm Jumeirah

The King of Bollywood reigns over a stunning seaside villa, complete with a private beach and state-of-the-art luxury. The best part? He didn’t even buy it — it was a gift from the developer.

Shilpa Shetty – Burj Khalifa

The popular actress and fitness queen lives in the clouds, with an apartment in the world’s tallest skyscraper, a gift from hubby Raj Kundra.

Abhishek & Aishwarya Rai Bachchan – Jumeirah Golf Estates

Bollywood’s golden couple live it up in a Mediterranean-style mansion with access to a world-class golf course and a private pool.

Salman Khan – The Address Downtown

The superstar owns a super-swanky apartment with panoramic views of the Burj Khalifa and Dubai Fountains.

Sohail Khan – Palm Jumeirah

Salman’s brother also snagged a beachfront property with breathtaking views of the Arabian Sea.

Meet Brothers – Skyz Towers

The chart-topping, singing duo invested in a luxury property, that blends contemporary style with top-class amenities.

Anil Kapoor – Al Furjan

Mr. India owns an ultra-modern apartment in this family-friendly, high-end community.

Tejasswi Prakash – Jumeirah

Bigg Boss 15 winner Tejasswi turned reality show winnings into real estate gold, buying a beachside retreat in the city.

Malaika Arora – Palazzo Versace Dubai

Only the best for Bollywood’s style queen. Malaika’s Versace-designed home screams high fashion and elegance.

Sania Mirza – Palm Jumeirah

India’s tennis star kicks back in a stunning waterfront villa, enjoying the ultimate luxury experience the place has to offer.

Kiku Sharda – Al Barsha

The comedy king, known for his work in ‘Comedy Nights with Kapil’, owns a high-end apartment in Al Barsha.

The perks for Bollywood stars in Dubai?

Luxury on another level – Think private beaches, infinity pools, and sky-high penthouses.

Privacy and security – Gated communities, no intrusive paps, just VIP treatment.

Tax-free perks – No property taxes, capital gains taxes, or income taxes on real estate.

A global hotspot – Close to India but with an elite, cosmopolitan lifestyle.

Fine dining choice – The city features several Michelin-star restaurants.

Top fashion – Some of the best brands in the world are available in the city.

With more stars investing in the city, Dubai’s love affair with Bollywood is only getting stronger.

(Source: www.dxbproperties.ae, DNA)

Announcements

Dubai’s most expensive villa? Jumeirah Bay mansion fetches Dh330M

Published

2 days ago

March 7, 2025

Sudhashree Dash

Dubai’s luxury real estate market has hit another milestone with the record-breaking sale of a custom-built six-bedroom villa on Jumeirah Bay Island for Dh330 million. The transaction, facilitated by Dubai Sotheby’s International Realty, marks the highest-ever price for a home on the exclusive island, surpassing the previous record of Dh240.5 million.

Often dubbed ‘Billionaire’s Island,’ Jumeirah Bay is an ultra-exclusive enclave featuring just 128 plots, attracting elite buyers seeking privacy, rarity, and an unparalleled waterfront lifestyle. The recently sold villa occupies one of only three plots at the island’s tip and is the only one offering uninterrupted views of the Burj Khalifa and Downtown Dubai skyline.

Spanning 26,895 square feet, the villa is a masterpiece of design, encased in full-height glass walls and boasting soaring 13-metre-high ceilings. The residence is crafted with exquisite materials, including Taj Mahal Quartzite, Patagonian marble, and walnut wood veneer, exuding sophistication at every turn. A beachfront infinity pool and a private stretch of pristine white-sand beach further enhance its exclusivity.

Dubai Sotheby’s International Realty associate directors Regan Faulkner and Ioana Armeanu represented the seller in the landmark transaction.

“AED 330 million is more than just a figure—it’s a statement,” said George Azar, CEO and chairman of Dubai Sotheby’s International Realty. “The demand for properties of this caliber marks a shift where provenance and exclusivity hold more value than ever.”

This historic sale cements Jumeirah Bay Island’s status as a premier destination for ultra-luxury real estate, further driving demand for its limited and highly coveted properties.

Business

UAE launches ‘Make it in the Emirates Ramadan Market’ to boost local goods

Published

4 days ago

March 5, 2025

Michael Gomes

The Ministry of Industry and Advanced Technology (MoIAT) has launched the ‘Make it in the Emirates Ramadan Market’, a new initiative aimed at promoting UAE-made products and supporting the Year of Community 2025.

Launched in collaboration with the Emirates Council for Rural Development, the National CSR Fund ‘Majra,’ and the UAE Food and Beverage Business Group, the initiative encourages local consumption by offering competitive prices on homegrown products.

The first edition, which kicked off on Monday at the Umm Al Quwain Chamber of Commerce and Industry, showcased a range of Ramadan essentials. Running through the first two weeks of Ramadan, the market provides a direct platform for local manufacturers to connect with consumers, reinforcing confidence in UAE-made goods while strengthening the food and beverage sector.

Omar Al Suwaidi, Undersecretary of MoIAT, said the initiative boosts consumer trust in homegrown products while fuelling the national economy.

Khalfan Ahmed Mesfer, Chairman of the UAQ Chamber, praised the market for shining a spotlight on Emirati goods, driving demand, and strengthening local industry.

Sarah Shaw, CEO of Majra, hailed it as a step towards sustainable consumption and closer business-community ties.

Meanwhile, MoIAT has thrown open the doors for manufacturers to join the ‘Make it in the Emirates’ summit at ADNEC, Abu Dhabi, from May 19–22.

(Wam)