Top Ten Dubai Business News of the Week: From Expo 2020 to Real Estate Developments

The city of Dubai is bustling with opportunities and growth, making it a hub for business and investment. From the much-anticipated Expo 2020 to major real estate developments, the past week has seen some exciting news for the business community.

1. Expo 2020 Unveils the World’s Largest 360-Degree Projection Screen

Expo 2020, the world’s largest event, is just around the corner, and it has already made headlines with its latest technological innovation. The event will feature the world’s largest 360-degree projection screen, showcasing immersive visual experiences for visitors.

2. Dubai to Build 25,000 Homes in Jumeirah Village Circle

Dubai’s real estate market continues to offer promising opportunities for investors, as the government announces plans to build 25,000 homes in the Jumeirah Village Circle. The project, which includes affordable housing options, is set to be completed by 2023.

3. Dubai Launches “Golden Cards” for Investors

In a bid to attract more investors to the city, Dubai has launched a new permanent residency scheme called “Golden Cards”. The scheme is open to investors, entrepreneurs, and high-achieving professionals, offering long-term residency and numerous benefits.

4. Emirates NBD Posts Strong Profit Growth in Q1 2019

Emirates NBD, Dubai’s largest bank, has reported a strong profit growth of 15% in the first quarter of 2019. The bank’s net profit stood at AED 2.74 billion, boosted by higher interest income and lower impairment charges.

5. Dubai’s Real Estate Transactions Reach AED 162 Billion in Q1 2019

Dubai’s real estate market continues to thrive, with transactions reaching AED 162 billion in the first quarter of 2019. The figures highlight the city’s strong real estate fundamentals and growing demand for high-quality residential and commercial properties.

6. Dubai to Introduce E-Commerce Regulations

Dubai is set to introduce new e-commerce regulations, aimed at improving consumer protection and boosting the sector’s growth. The regulations will cover aspects such as payments, delivery, and refunds, ensuring a safer and more streamlined online shopping experience.

7. DP World to Build Logistics Hub in Ethiopia

Dubai-based logistics giant DP World has announced plans to build a new logistics hub in Ethiopia, aimed at improving trade links between the two countries. The hub will be located in the city of Mojo, providing easy access to the country’s main transport routes.

8. Dubai’s SkyPods to Revolutionize Urban Transportation

Dubai is set to revolutionize urban transportation with SkyPods, a futuristic mode of transport that operates on suspended rails. The driverless pods will offer fast and efficient connectivity between major destinations, reducing travel time and congestion.

9. Dubai’s DIFC Launches New Fintech Accelerator

Dubai International Financial Centre (DIFC) has launched a new fintech accelerator, aimed at supporting the growth of startups in the financial technology sector. The accelerator will provide mentorship, funding, and networking opportunities to selected startups.

10. Dubai Launches New Smart System for Building Permits

Dubai has launched a new smart system for building permits, aimed at reducing the time and costs associated with construction projects. The system will allow applicants to submit and track their permits online, simplifying the process and improving efficiency.

Conclusion

With its growing economy and business-friendly environment, Dubai continues to attract investors and entrepreneurs from around the world. The latest news highlights the city’s commitment to innovation, growth, and progress, cementing its position as a leading global business hub. Whether it’s the much-anticipated Expo 2020 or new fintech accelerators, there’s never been a better time to explore the opportunities that Dubai has to offer.

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