Latest news with #AED16
Gulf Insider
3 days ago
- Automotive
- Gulf Insider
Abu Dhabi To Scrap Road Toll Caps From September 1 Under New Rules
Abu Dhabi's Integrated Transport Centre has announced major changes to the emirate's Road Toll Executive Regulations (DARB), aimed at improving traffic flow and easing congestion on main roads during peak hours. Effective Monday, September 1, 2025, the evening toll period will be brought forward to run from 3pm to 7pm, while the morning period remains unchanged at 7am to 9am, Monday to Saturday. Tolls will continue to be free on Sundays and public holidays. In the most significant change, the government will remove all daily and monthly toll caps for private vehicles. This ends the current limits of: AED16 ($4.36) per day AED200 ($54.46), AED150 ($40.84) and AED100 ($27.23) per month for the first, second, and third vehicles (and any additional vehicles) respectively From September, a flat AED4 ($1.09) fee will apply each time a vehicle passes through a toll gate in Abu Dhabi. The existing exemption policy remains in place for eligible groups, including People of Determination, low-income families, senior citizens, and retirees. Q Mobility, a subsidiary of Abu Dhabi Developmental Holding Company (ADQ), will take over management and operation of the DARB toll system, working with authorities to roll out the changes.
Dubai Eye
4 days ago
- Business
- Dubai Eye
Dubai's GDP grows 4% in Q1, touching AED 119.7 billion
Dubai recorded a GDP of AED119.7 billion in the first three months of the year, marking a 4 per cent growth during the same period last year, driven by strong performances and expansion across various sectors. The growth was driven by standout performances in trade, real estate, financial services, transport and industry sectors that collectively contributed nearly 78 per cent of the total growth achieved during the year. Most notable achievement came from the human health and social work sector hitting AED 1.9 billion in its first quarter of 2025, rising by 26 per cent from the same period last year. Dubai's real estate sector contributed 7.5 per cent of the emirate's GDP with a total value of AED 9 billion, while financial and insurance achieved a growth of 5.9 percent in the first quarter of 2025, reaching AED16 billion. The accommodation and food services sector recorded 3.4 per cent growth, reaching AED4.9 billion, while information and telecommunication sector grew by 3.2 per cent, with a total value of AED5.3 billion. The wholesale and retail trade sector made 23 per cent contribution to the economy, with a value of AED27.5 billion. The manufacturing sector grew by 3.3 per cent, reaching AED8.7 billion in Q1 and the transport and storage sector grew by 2 per cent, reaching AED15.7 billion.
ARN News Center
4 days ago
- Business
- ARN News Center
Dubai's GDP grows 4% in Q1, touching AED 119.7 billion
Dubai recorded a GDP of AED119.7 billion in the first three months of the year, marking a 4 per cent growth during the same period last year, driven by strong performances and expansion across various sectors. The growth was driven by standout performances in trade, real estate, financial services, transport and industry sectors that collectively contributed nearly 78 per cent of the total growth achieved during the year. Most notable achievement came from the human health and social work sector hitting AED 1.9 billion in its first quarter of 2025, rising by 26 per cent from the same period last year. Dubai's real estate sector contributed 7.5 per cent of the emirate's GDP with a total value of AED 9 billion, while financial and insurance achieved a growth of 5.9 percent in the first quarter of 2025, reaching AED16 billion. The accommodation and food services sector recorded 3.4 per cent growth, reaching AED4.9 billion, while information and telecommunication sector grew by 3.2 per cent, with a total value of AED5.3 billion. The wholesale and retail trade sector made 23 per cent contribution to the economy, with a value of AED27.5 billion. The manufacturing sector grew by 3.3 per cent, reaching AED8.7 billion in Q1 and the transport and storage sector grew by 2 per cent, reaching AED15.7 billion.
Hi Dubai
4 days ago
- Business
- Hi Dubai
Dubai's GDP Hits AED119.7 Billion in Q1 2025, Grows 4% Year-on-Year
Dubai's economy recorded a GDP of AED119.7 billion in the first quarter of 2025, achieving 4% growth compared to the same period last year, according to official data from the Dubai Data & Statistics Establishment, Digital Dubai. The expansion was driven by notable performances across several key sectors. Human Health and Social Work activities registered the highest growth at 26%, contributing AED1.9 billion and adding 0.3 percentage points to overall growth. Real Estate grew by 7.8% to reach AED9 billion, while Financial and Insurance activities expanded by 5.9% to AED16 billion. Wholesale and Retail Trade, the largest contributor to the economy, rose by 4.5% to AED27.5 billion, making up 23% of GDP and adding 1.03 percentage points to growth. Accommodation and Food Service activities saw a 3.4% rise to AED4.9 billion, and the Information and Communications sector increased by 3.2% to AED5.3 billion. Manufacturing grew 3.3% to AED8.7 billion, while Transport and Storage—heavily supported by air transport—expanded by 2% to AED15.7 billion. Other activities, accounting for 26% of GDP, grew by 1.9%. Commenting on the results, His Excellency Younus Al Nasser, CEO of the Dubai Data & Statistics Establishment, said: In an era defined by data and AI, reliable statistics are indispensable for understanding current trends and anticipating future developments. The Q1 2025 results reflect Dubai's economic progress, enabling informed decisions at all levels. His Excellency Hadi Badri, CEO of the Dubai Economic Development Corporation, noted: Dubai's sustained and diversified growth underscores its global appeal. Guided by the city's visionary leadership, we remain focused on unlocking new opportunities, enabling innovation, and turning ideas into scalable successes. The first quarter results follow a strong 2024 performance, during which Dubai's GDP rose by 5.8% at current prices to AED541 billion and by 3.2% at constant prices to AED443 billion. The Dubai Data and Statistics Establishment is now expanding its survey base and recalibrating GDP time series in line with international classifications, aiming to enhance the quality and usability of economic data. News Source: Dubai Media Office
Zawya
07-04-2025
- Business
- Zawya
Strong foreign demand sharply boosts Aldar sales
A surge in purchases by clients from the UK, Russia and other countries boosted sales by the Abu Dhabi-listed Aldar Properties by nearly 20 percent in 2024, its CEO said. Talal Al-Dhiyebi told the semi-official UAE daily Al-Ittihad that the Company's total residential sales soared to a record high of around 33.6 billion UAE dirhams ($9.15 billion) last year from nearly AED27.9 billion ($7.60 billion) in 2023. The increase brought the Company's total sales since the end of the Coronavirus pandemic to nearly AED83 billion ($22.61 billion), he stated. Al-Dhiyebi said there has recently been a large rise in the number of buyers from foreign countries, mainly the UK, Russia, China and India. He said the value of sales to foreigners residing inside and outside the UAE jumped from around AED16 billion ($4.35 billion) in 2023 to AED22.2 billion ($6.05 billion) in 2024. 'This is equivalent to around 78 percent of the total sales in 2024…sales to UAE citizens stood at around 22 percent last year,' he said. Al-Dhiyebi attributed the surge in post-pandemic sales to a number of factors, including the enactment of new investment laws in the UAE, better visa and residence facilities, business incentives and lower fees on various services. In a report in late 2024, Aldar said it was executing housing projects worth at least AED25 billion ($6.8 billion) in the UAE and other countries. The government-controlled firm, one of the largest developers in the region, said it was also pushing ahead with major projects on Yas and Saadiyat islands and intended to deliver least 1,700 houses, apartments and villas before the end of 2024. Out of the 43 housing projects launched in Abu Dhabi emirate during 2024, 10 projects are owned by Al-Dar, the Abu Dhabi Municipality said in early 2025. (Writing by Nadim Kawach; Editing by Anoop Menon)
