Latest news with #AED100
Dubai Eye
5 days ago
- Business
- Dubai Eye
UAE exchange house fined AED100mn for regulatory breaches
The Central Bank of the UAE (CBUAE), on Thursday, fined an unnamed exchange house AED100 million due to what it called significant failures in the company's regulatory framework. The financial sanction is based on the results of the findings of examinations conducted by the CBUAE, with regards to Anti-Money Laundering and Combating the Financing of Terrorism and Illegal Organisations regulations. The CBUAE, through its supervisory and regulatory mandates, endeavours to ensure that all exchange houses, their owners, and staff abide by UAE laws, regulations and standards to maintain transparency and integrity in financial transactions and safeguard the UAE financial system.
ARN News Center
5 days ago
- Business
- ARN News Center
UAE exchange house fined AED100mn for regulatory breaches
The Central Bank of the UAE (CBUAE), on Thursday, fined an unnamed exchange house AED100 million due to what it called significant failures in the company's regulatory framework. The financial sanction is based on the results of the findings of examinations conducted by the CBUAE, with regards to Anti-Money Laundering and Combating the Financing of Terrorism and Illegal Organisations regulations. The CBUAE, through its supervisory and regulatory mandates, endeavours to ensure that all exchange houses, their owners, and staff abide by UAE laws, regulations and standards to maintain transparency and integrity in financial transactions and safeguard the UAE financial system.
Hi Dubai
27-05-2025
- Business
- Hi Dubai
Dubai Strengthens Future Economy with AED100 Million Schneider Electric Education Initiative
Dubai is cementing its role as a global hub for innovation and sustainability through a new AED100 million education initiative by Schneider Electric, launched alongside the opening of its advanced Dubai headquarters, The NEST. H.H. Sheikh Mansoor bin Mohammed bin Rashid Al Maktoum, President of the UAE Olympic Committee, highlighted this move as part of Dubai's broader economic vision under the Dubai Economic Agenda D33, aiming to rank among the world's top three urban economies within a decade. The NEST, situated in Dubai Silicon Oasis, serves as a smart building and innovation hub designed to advance the UAE's digital and sustainable economy. The initiative focuses on equipping UAE youth with future-ready skills by modernizing engineering labs, promoting sustainability education, and fostering hands-on learning through partnerships with universities and industry players. H.H. Sheikh Mansoor emphasized Dubai's commitment to nurturing talent and attracting investment, stating the city's progress rests on strategic vision and collaboration with global businesses. He stressed that investing in education and innovation is key to building a resilient economy that aligns with national ambitions and youth aspirations. Dr. Mohammed Al Zarooni, Executive Chairman of Dubai Integrated Economic Zones Authority, described the launch as a milestone that reflects Dubai's innovation ecosystem and the shared commitment to sustainability. Schneider Electric executives reaffirmed their dedication to supporting workforce readiness and sustainability through targeted programs like Tamayuz and UAE NextGen Go Green. The five-year initiative will adapt continuously to evolving educational and industrial needs, positioning the UAE to stay ahead of global trends and lead in building a sustainable, knowledge-driven economy. News Source: Emirates News Agency
Yahoo
25-05-2025
- Business
- Yahoo
Dubai remains top market for homes transacted for over US$10 mil: Knight Frank
View from a villa at Palm Jumeirah, Dubai (Picture: Knight Frank) Following robust activity in 2024, the Dubai real estate market is expected to continue attracting demand from among the wealthy. According to a research report by property consultancy Knight Frank, high-net-worth individuals (HWNIs) surveyed around the world have indicated interest in purchasing a property in Dubai, with an estimated US$10.3 billion ($13 billion) in private capital potentially being channelled towards the emirate's residential market. The steady demand has bolstered activity in Dubai's residential market, which logged record residential sales of nearly 170,000 homes last year worth a total of US$100 billion, says Knight Frank. That momentum has carried over into this year, with AED100 billion ($35 billion) in home sales already achieved as of March 4. Dubai property prices have also continued to rise, surging 19.1% in 2024 to hit an average of AED1,685 psf. At the same time, Dubai remains the world's busiest market for sales of homes priced over US$10 million, the report states. Last year, a total of 435 transactions in this bracket were recorded in Dubai, almost equalling the number of such deals logged in London and New York combined. Between January and March this year, 111 homes were sold for over US$10 million in Dubai. Read also: Christie's International Real Estate returns to Singapore'The super-rich remain laser-focused on purchasing luxury homes in the city, and this unrelenting demand has been a critical driver of Dubai being the world's busiest US$10 million+ homes market for the second year running,' says Shehzad Jamal, partner for strategy and consultancy at Knight Frank MENA (Middle East and North Africa). In its latest Destination Dubai report, Knight Frank surveyed 387 global HNWI across the UK, India, Saudi Arabia and East Asia (China, Hong Kong and Singapore) to gauge their appetite for investing in United Arab Emirates real estate. Over half of the respondents (52%) indicated they are interested in buying property in the UAE. "As we have found in our research in previous years and mirroring the experience of our teams, the strongest appetite for a real estate purchase in the UAE comes from those with the greatest wealth and is a testament to the success of the government's programmes to strengthen the emirate's appeal as a place for the world's wealthy to live and invest,' says Faisal Durrani, partner and head of research for Knight Frank MENA. Saudi Arabia and India HNWIs registered the strongest interest, with 66% and 41% of respondents indicating an intent to purchase a UAE property in 2025. For the UK and East Asia HNWIs surveyed, 17% of each cohort indicated a potential UAE property purchase this year. Knight Frank adds that among the East Asia HNWIs, those in Hong Kong displayed the strongest appetite, with 22% of respondents signalling the intent to buy UAE property in 2025. According to the survey, residential properties remain the biggest draw for global HNWI as compared to the commercial and retail segments. Additionally, Dubai remains the top target destination, with 71% of respondents naming Dubai as their preferred emirate. Read also: Dubai's real estate market on a hot streak See Also: Singapore Property for Sale & Rent, Latest Property News, Advanced Analytics Tools New Launch Condo & Landed Property in Singapore (COMPLETE list & updates) Christie's International Real Estate returns to Singapore Dubai's real estate market on a hot streak Navigating the real estate market: From Singapore to Bali, Dubai, Japan and the UK En Bloc Calculator, Find Out If Your Condo Will Be The Next en-bloc HDB Resale Flats Up For Sale, Affordable Units Available
Mid East Info
06-05-2025
- Entertainment
- Mid East Info
Your Art on the World's Tallest Canvas: Emaar Launches AED 100,000 Design Competition
The submission window is open from 6 to 26 May Dubai, United Arab Emirates, May 2025 : Emaar is excited to launch a unique invitation to local talents and UAE residents to design a projection for the world- renowned Burj Khalifa. The winning design will be brought to life on the iconic façade of Burj Khalifa, with the designer receiving a grand prize of AED100,000. Entries will be accepted from 6 to 26 May 2025, providing artists, designers, and creatives a chance to leave their mark on one of the world's most celebrated landmarks and share their vision with a global audience. Participants are invited to submit original projection videos and animations that capture the spirit of innovation, creativity, and the vibrant culture of Dubai. Submissions should showcase dynamic visual content with a duration of three minutes and must comply with specific technical requirements to ensure seamless integration with Burj Khalifa's advanced projection system. A detailed set of technical specifications — including resolution, format, and mapping guidelines — as well as the full terms and conditions, can be found at . Mohamed Alabbar, Founder of Emaar, said: 'At Emaar, we believe that talent knows no boundaries. Burj Khalifa stands not only as a symbol of human achievement but also as a canvas for creativity and innovation — open to everyone with a talent to share. Through initiatives like this, we reaffirm our commitment to nurturing creativity and providing a platform where ideas can reach new heights. We are proud to open our doors to every dreamer, artist, and innovator, offering them the opportunity to contribute to our collective story of achievement.' The winning designer will not only receive a cash prize of AED 100,000 but will also have their work displayed on Burj Khalifa, offering unparallelled global exposure. This is a rare opportunity for emerging and established talents to showcase their creativity on an unprecedented scale, inspiring millions of people across the world. Submissions must be sent to opencall@ , accompanied by a short concept description explaining the inspiration and story behind the design. Emaar invites all creatives based in the UAE to be part of this exceptional moment and bring their artistic vision to life on the world's tallest canvas. About Emaar Properties: Emaar Properties PJSC, listed on the Dubai Financial Market, is a global property developer and provider of premium lifestyles, with a significant presence in the Middle East, North Africa, and Asia. One of the world's largest real estate companies, Emaar has a land bank of ~1.7 billion sq. ft. in the UAE and key international markets. With a proven track-record in delivery, Emaar has delivered over 118,400 residential units in Dubai and other global markets since 2002. Emaar has strong recurring revenue-generating assets with approx. 1.4 million sq. mtr. of leasing revenue-generating assets and 38 hotels and resorts with around 9,200 keys (includes owned as well as managed hotels). Today, 34 percent of Emaar's revenue is from its shopping malls, hospitality, leisure, entertainment, commercial leasing, and international businesses. Burj Khalifa, a global icon, Dubai Mall, the world's most-visited retail and lifestyle destination, and Dubai Fountain, the world's largest performing fountain, are among Emaar's trophy destinations.
