Business

Dubai’s Damac Properties makes foray into US real estate market

Published

4 years ago

May 28, 2022

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UAE-based Damac Properties has won a $120m bid to acquire land in the upscale Miami neighbourhood of Surfside.The developer plans to build an ultra-luxurious, Cavalli branded condominium project.
The property, on Collins Avenue, will offer residents 200 feet of direct beach frontage and access to South Beach and Bal Harbour.

The land, comprising 1.8 acres, was sold to Damac for $120m through a court process. The Surfside project will be Damac’s first in the US. Surfside includes other ultra-luxury condominium developments such as Four Seasons Private Residences, the Fendi Chateau Residences, as well as the Arte Surfside buildings.

There are also a number of high-end hotels within the town including the Four Seasons, St. Regis Bal Harbour, the Ritz-Carlton Bal Harbour. Commenting on the purchase, DAMAC Chairman and Founder, Hussain Sajwani, said: “DAMAC Properties has long been eyeing development opportunities in Miami. We see the city, which is known for being a luxury and fashion centre, as a natural fit for our Company, which has an established reputation for its branded luxury offerings.”

Surfside, in recent years, has become a hotspot for ultra-luxury condominium developments, including the Four Seasons Private Residences, the Fendi Chateau Residences, and the Arte Surfside buildings. The Company’s consistent success over the years, and more recently on the tailwinds of Dubai’s stellar economic performance and forecast, has propelled it to eye various global opportunities for development and growth.

It is developing a luxury resort in the Maldives to be operated by global hotel brand Mandarin International and has already projects in Canada, the UK and across the Middle East.

DAMAC Properties has been at the forefront of the Middle East’s luxury real estate market since 2002, delivering award-winning residential, commercial and leisure properties across the region, including the UAE, Saudi Arabia, Qatar, Jordan, Lebanon, Iraq, the Maldives, Canada, as well as the United Kingdom.

Business

No cash? No card? No problem: Now shop at Dubai Duty Free with crypto

Published

3 mins ago

August 5, 2026

Michael Gomes

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Dubai Duty Free has become the first airport retailer in the Middle East to introduce Crypto.com Pay, allowing eligible UAE residents to pay for purchases using their Crypto.com accounts.

The new payment option is now available at Dubai International Airport (DXB), Al Maktoum International Airport (DWC/AMIA) and online at Dubai Duty Free’s website.

The rollout follows a strategic partnership signed between Dubai Duty Free and Crypto.com in July 2025 and supports Dubai’s wider push towards a cashless economy under the D33 Economic Agenda.

How it works

For in-store purchases, shoppers simply select Crypto.com Pay at checkout, scan the QR code displayed at the counter using the Crypto.com app and approve the payment. The transaction is processed instantly, with Dubai Duty Free receiving settlement in UAE dirhams.

Online shoppers can also choose Crypto.com Pay during checkout, scan the QR code generated on the payment page and confirm the transaction through the Crypto.com app. Mobile users are redirected directly to the app before returning to complete their purchase.

Available for eligible UAE residents

The service is currently available to eligible UAE residents with a Crypto.com account. Payments are processed through Crypto.com’s regulated payment platform, with transactions settled in dirhams.

Dubai Duty Free said the launch expands its range of digital payment options, which already includes Apple Pay, Alipay and TerraPay, while offering customers another convenient way to pay.

The move also strengthens Dubai’s ambition to become a global leader in digital commerce, with the emirate targeting 90 per cent of financial transactions to be cashless by the end of 2026.

Announcements

August fuel rates announced: UAE petrol prices go up

Published

5 days ago

July 31, 2026

Michael Gomes

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UAE motorists will pay more at the pump from Saturday after the UAE Fuel Price Committee announced higher petrol and diesel prices for August 2026.

The revised rates, which take effect from August 1, are:

Super 98: Dh3.60 per litre (up from Dh3.40)
Special 95: Dh3.49 per litre (up from Dh3.29)
E-Plus 91: Dh3.41 per litre (up from Dh3.21)
Diesel: Dh3.80 per litre (up from Dh3.60)

The increase reverses July’s price reduction and comes after volatility in global oil markets during the past month.

The UAE Fuel Price Committee reviews retail fuel prices at the end of each month, with rates determined in line with movements in international oil markets.

The new prices will remain in effect throughout August 2026.

Announcements

UAE’s Jaywan card can now be used for online shopping on thousands of websites

Published

2 weeks ago

July 21, 2026

Michael Gomes

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Online shopping with the UAE’s Jaywan card just got a major upgrade.

Network International has announced that Jaywan cardholders can now use their cards to pay on thousands of online stores connected to its payment gateway, expanding the domestic payment scheme beyond in-store purchases.

The move is expected to make online payments faster and more convenient while supporting the UAE’s push towards a cashless economy.

What is Jaywan?

Launched by Al Etihad Payments, a subsidiary of the Central Bank of the UAE, Jaywan is the country’s domestic payment card scheme.

It was introduced to provide a secure local payment option, reduce transaction costs and strengthen the UAE’s digital payments ecosystem.

Until now, Jaywan cards were mainly accepted for in-store purchases. With the latest expansion, cardholders can also use them for online shopping across thousands of merchants powered by Network International.

What this means for shoppers

For UAE residents, the update means more flexibility when shopping online.

Whether you’re ordering groceries, booking services or buying products online, you’ll be able to use your Jaywan card anywhere that supports Network International’s payment gateway.

The company says the integration offers secure, fast and seamless online payments, while merchants won’t face additional charges for Jaywan transactions processed through its platform.

A step towards a cashless UAE

The expansion is part of the UAE’s broader strategy to accelerate digital payments and reduce reliance on cash.

By making Jaywan available both in stores and online, payment providers are helping create a more connected digital payment ecosystem for businesses and consumers alike.

As more banks, merchants and payment providers adopt the scheme, residents can expect to see Jaywan accepted across even more everyday payment services in the future.