Political tension in Dubai resulted in a continuing decline in gold prices. Prices of 22 and 24K gold are up. 22K gold is at AED162.25 compared to AED161.25 in the past weeks. 24K, on the other hand, rose at AED172.75 from AED171.50.
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Dubai has become a more affordable country in 2019 to invest in particularly for expats. There are several factors that contributed to it: a continuous decline in rent, reduced fees, and fines for the government, a drop in grocery prices, lower prices in dining out, and a freeze in its school’s fees.
Dubai Creek is the cradle of Dubai’s heritage. This was the original lifeline of Dubai before it became what it is today. This was a natural harbor and bustling with activities like fishing, trading, and pearl gathering.
Dubai is looking forward to a becoming more digital as its growth strategy veers it away from the traditional tourism, real estate, and trade. Recently the UAE announced a couple of changes in nurturing digital innovations which include the use of open data and application of higher e-commerce levels of practice and sharing platforms.
It can be seen that the commercial realty in Dubai is changing due to the presence of young professionals who belong to the millennial generation. These are those tech-savvy workers who are aged 20 to 37 years old.
Everyone can expect the 2019 Dubai Shopping Festival to be bigger than ever. It’s not merely the usual month-long festival with bargains, events, raffles, and fireworks. Some malls in the UAE hosted a 12-hour sale with discounts of up to 90 percent on the first day of the festival.
Due to the UAE’s efforts to stimulate business investments, Dubai expects that there is almost a complete halt in the state spending growth since revenues expand slowly. This has been reported in the 2019 state budget which was released recently.
Dubai is among the top 20 cities for the super wealthy. The Cluttons Survey named Dubai as the most preferred location for property investment. Learn the growing real estate market of Dubai.
Take a look at what’s new in Dubai and the UAE on October 22 to 28, 2018. Here’s for the latest business news:
More exciting news from Dubai and the UAE this week to give you significant updates. Here are some not to miss tidbits that can influence the way you do business: