Government of Dubai approved a 700-MW extension to the Mohammed bin Rashid Al Maktoum Solar Park. It will give additional capacity of 5,000 MW by 2030, with a 260-m solar tower to take center stage. The solar park sits around 50 km south of Dubai and its …
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Nesma Telecom to Introduce Digital Telecom Towers in the UAE
Nesma Telecom & Technology, a subsidiary of Saudi Arabia-based multinational conglomerate Nesma Holding, has revealed its plans to foray into the UAE market with digital telecom towers that can carry the devices of more than one GSM operator. Nesma Telecom …
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Sheikh Mohammed launches UAE Artificial Intelligence strategy
With a Robocop patrolling the city’s malls, drones monitoring the streets and ample machines in place to make services quicker and more efficient, it’s safe to say that Dubai well and truly loves technology. So much so, that His Highness Sheikh …
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UAE MoF issues statement on VAT regulations
The UAE MoF is committed to working with the highest levels of transparency and disclosure principles, and will collaborate with the Federal Tax Authority upon issuing the executive regulation. Al Khoori stressed that the Ministry’s website and that …
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Lawyers report low take-up of UAE bankruptcy law
The UAE’s long-awaited bankruptcy law has yet to be applied … It provides traders with three options when in financial crisis – restructuring, preventative composition and (declaring) bankruptcy. However, it does not decriminalise bounced cheques …
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VAT items ‘yet to be determined’, says UAE finance ministry
Tax rates on goods and services are yet to be formally set, the UAE Ministry of Finance has said, ahead of the planned introduction of VAT on January 1. Undersecretary Younis Haji Al Khoori said the ministry is still in the process of preparing the …
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Smart benches at Dubai Police stations
Dubai: Visitors can charge their mobile phones and use high speed internet by using smart benches installed in front of six Dubai police stations, an official said on Wednesday. Lieutenant Colonel Shaikh Mohammad Abdullah Al Mulla, Director of Total …
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Vinokourov feigns surprise after Aru signs with UAE Team Emirates
Astana team manager Alexander Vinokourov has feigned surprise and disappointment after UAE Team Emirates announced it had signed … He was asked regularly for his news but never answered,” Vinokourov said, according to L’Equipe.
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UAE developer reveals plan for $6.8bn Dubai mega project
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Indians ready to capitalise on Dubai’s lucrative real-estate industry
Mumbai (Maharashtra)[India], Oct. 18 (ANI-NewsVoir): When it comes to buying property in Dubai, Indian investors are quite willing to shell out big sums, as per a recent survey. The study conducted by Dubai Property Show, reveals the purchase pattern of …
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Sentiment fuelled buoyancy fades in Dubai with property market correction forecast
Dubai’s residential property market has slowed with a correction likely ahead as rents fell in the second quarter of 2017, sales were down to a six year low and vacancies are rising. Phidar Advisory’s Dubai Real Estate Investment Demand Index (REIDI …
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Off-plan property deals in Dubai rise, sales of completed units drop in Q3
The volumes and values of off-plan property transactions in Dubai rose in the third quarter of the year, a report by Chestertons MENA has found. While the number of transaction increased by 86 per cent from the previous quarter, the value of the deals was …
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Dubai developer Damac Properties reports 20% fall in third-quarter profit
DUBAI: Dubai developer Damac Properties on Wednesday reported a 20.24 percent fall in third-quarter profit, its third consecutive earnings decline, caused by a steep rise in cost of sales. Profit for the three-month stretch to September was at Dh719.34 …
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Dubai home below Dh1 million? I will buy
(MENAFN – Khaleej Times) All the action in the Dubai property sector is transpiring in the under-Dh1 million price market. Not only does this signify an effort by developers to tap the mid-income market segment but also the willingness of banks to finance …
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MIDEAST STOCKS-Profits at Dubai real estate firms drop
DUBAI, Oct 18 (Reuters) – Shares in Dubai real estate developers may be in focus on Wednesday after two firms reported lower third-quarter earnings, reflecting continued pressure on the Dubai property market. Dubai’s DAMAC Properties posted a 20 percent …
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Dubai’s Damac Properties Q3 profit falls 20%
Dubai’s Damac Properties, the owner and operator of the only Trump-branded golf club in the Middle East, reported a third consecutive profit decline on Wednesday as costs of sales rose. The developer’s profit fell 20 per cent in the July-September …
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Dubai’s Damac records $626m nine-month net profit
RELATED ARTICLES: Damac Properties sells out Phase 1 of Just Cavalli villas | Construction of Damac’s Dubai South hotel 90% complete | Damac Properties nears $1bn mark with 2017 contract awards Dubai’s Damac Properties announced net profit worth $626m …
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