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UK billionaire buys one of Dubai’s priciest homes at Emirates Hills

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Dubai’s luxury property scene has added another billionaire to its list of high-profile buyers — Lakshmi Mittal, one of the UK’s richest residents, is now the owner of a palatial mansion in Emirates Hills, often dubbed the “Beverly Hills of Dubai.”

The India-born steel magnate, who leads ArcelorMittal, the world’s second-largest steelmaker, purchased the lavish estate earlier this year, according to sources familiar with the deal. While the property was originally listed for a staggering Dh735 million, it reportedly sold for around half that amount (Dh367), still placing it among the most expensive homes ever sold in Dubai.

The Baroque-style villa is known for its extravagant detailing, including interiors decked out in gold leaf. It sits in one of Dubai’s most exclusive gated communities, a favourite among royalty, celebrities, and ultra-wealthy investors.

Billionaires Move East

Mittal’s latest acquisition comes amid growing interest from global elites in Dubai’s booming property market, which has seen a surge in demand since the pandemic. Fellow Indian billionaire Mukesh Ambani’s family has also snapped up luxury property in the emirate.

This move also coincides with a broader exodus of high-net-worth individuals from the UK, driven by recent tax reforms. At 74, Mittal is said to be evaluating his residency options after the UK scrapped its non-domiciled tax regime, a long-standing system that allowed wealthy foreigners to avoid UK tax on overseas income for up to 15 years.

He hasn’t yet made a final decision about leaving the UK, but sources say the recent changes have prompted serious consideration. If he does relocate, it would mark a significant shift for Britain’s business elite. Other billionaires such as Nassef Sawiris and Bart Becht have already moved out of the UK.

A Global Footprint, With Deep Ties to the UK

Despite the Dubai purchase, the Mittals’ presence in the UK remains strong. They still list their Kensington mansion as a primary residence and run LK Advisers, their family office, from central London. The Mittal Foundation has donated over £20 million to healthcare and medical causes in the UK, cementing the family’s philanthropic legacy.

They’ve also made headlines for importing fine art, jewellery, and rare wines into the UK over the past decade, reflecting their status as one of Britain’s most influential billionaire families.

With over 35 years of experience in journalism, copywriting, and PR, Michael Gomes is a seasoned media professional deeply rooted in the UAE’s print and digital landscape.

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Dh400 fine for jaywalking in Dubai: What residents must know

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Pedestrians in Dubai are being urged to follow road safety rules, as Dubai Police warns that crossing from non-designated areas remains a leading cause of run-over accidents.

Officials say that despite the availability of pedestrian bridges and safe crossings across major roads, some individuals continue to take risks, especially on high-speed routes where drivers may not be able to stop in time.

The warning follows a recent incident where a pedestrian was injured after attempting to cross from an unsafe location in the city. The individual sustained minor injuries.

According to Brigadier Jumaa Salem Bin Suwaidan, pedestrians who ignore crossing rules not only risk their own safety but also endanger drivers and other road users.

Under UAE traffic laws, crossing outside designated areas or ignoring signals can result in a Dh400 fine, reinforcing the importance of using marked crossings and following traffic lights.

Residents have been urged to use designated crossings and stay alert, particularly on busy roads. With increasing traffic and high vehicle speeds in many areas, even a short shortcut can carry serious risks.

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New Dubai rule makes investor visas easier for property buyers

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Dubai has made it easier for property buyers to secure residency, after the Dubai Land Department (DLD) introduced new rules removing the minimum property value requirement for a two-year real estate investor visa.

Previously, investors needed to own property worth at least Dh750,000 to qualify. Under the updated system, buyers can now apply for the visa regardless of property value, as long as they are the sole owner.

For many UAE expats and first-time buyers, the move significantly lowers the barrier to entry, making it possible to invest in more affordable properties while still securing residency benefits.

Officials say the change is part of Dubai’s wider push to expand its investor base, boost property demand, and strengthen its position as a global real estate hub.

There are still some conditions for jointly owned properties. According to DLD’s Cube Centre, if two investors share ownership equally, each person’s stake must be at least Dh400,000 to qualify for the visa.

What it means for expats

For expats looking to put down roots in Dubai, the update creates more flexibility and accessibility, especially for those entering the market at lower price points. It also opens the door for a wider range of investors to benefit from property-linked residency.

The move is expected to increase market activity, encourage long-term investment, and support sustainable growth across Dubai’s real estate sector.

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Tourists in UAE can now get instant bank accounts: Here’s how

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Tourists visiting the UAE can now open a bank account within minutes, thanks to a new digital initiative led by the Central Bank of the UAE in partnership with the Federal Authority for Identity, Citizenship, Customs and Port Security and Abu Dhabi Commercial Bank.

The service, called ‘Tourist Identity’, allows visitors to set up a fully digital bank account upon arrival, using a secure identity issued at entry and powered by biometric and facial recognition technology.

By linking the system to ADCB’s mobile app, travellers can open an account instantly, receive a digital debit card, and start making payments without paperwork or traditional documents.

For many visitors, especially business travellers, long-stay tourists, and frequent visitors, the move removes a key hurdle: access to local banking. Instead of relying on cash, users can pay digitally, manage expenses easily, and connect directly to the UAE’s financial system from day one.

Officials say the system is designed to deliver a secure and seamless experience, using advanced biometrics and AI to enable access to services without the need for physical documents.

What it means for visitors

For tourists, the new service means faster, safer, and more convenient access to money, making everyday transactions, from shopping to transport, simpler during their stay in the UAE.

The rollout also strengthens the country’s position as a tech-driven global destination, where travel and financial services are increasingly integrated into a seamless digital experience.

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