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Al Etihad
21-04-2025
- Politics
- Al Etihad
UAE set new paradigm for peace with Pope Francis
22 Apr 2025 00:27 ALLAN JACOB (ABU DHABI)Like the UAE, the Vatican under the late Pope Francis was keen to build bridges to people and communities while uniting UAE has thrived as a country that welcomes all people — 200 nationalities dwell here — much like how the late Pope Francis, who was often called the People's Pope, shed the trappings of power and rituals to forge a personal rapport with ordinary women, men, and children regardless of their origin, colour, creed, or country. Pope Francis, leader of the Catholic Church, was inspired by the UAE and made it his mission to visit the country back in 2019 to sign the Document of Human Fraternity that would pave the way for two religions — Islam and Christianity — and their followers to find common cause in a world roiled by religious and sectarian strife. The head of the Catholic Church believed that the UAE model would transform governance at the human level while elevating millions of the Pope was an ardent backer of the human potential and the many possibilities for peace when people of different faiths live together in harmony. More importantly, his was a call for action — and what better country than the UAE, which put peaceful coexistence and tolerance at the centre of governance and was reaping the UAE and its wise leadership impressed Pope Francis; he knew that he had found a reliable partner and friend in the common pursuit that put people over power. The UAE had established its credentials in tolerance, and he sought the virtues of this country that reaches out to the world in its efforts for prosperity and this context, the Document of Human Fraternity that the Catholic leader signed with His Eminence Dr. Ahmed Al-Tayeb, under the auspices of the UAE, is a landmark, far-sighted agreement that would reshape the way countries and people engage with each other. While being ambitious in scope, it remains, at its core, deeply spiritual. This is made clear at the start of the document: 'In the name of God who has created all human beings equal in rights, duties and dignity, and who has called them to live together as brothers and sisters, to fill the earth and make known the values of goodness, love and peace.'During his historic visit in 2019, the first by the Catholic Pontiff to the Arabian Peninsula, the late Pope was given a rousing reception by the people of the UAE and the warmth of its wise leadership made him feel at home. The UAE made clear that it was taking the lead to unite civilisations while moving past the civilisational angst and suspicions that have stoked wars and put our common future at stake. 'Al-Azhar al-Sharif and the Muslims of the East and West, together with the Catholic Church and the Catholics of the East and West, declare the adoption of a culture of dialogue as the path; mutual cooperation as the code of conduct; reciprocal understanding as the method and standard,' read the declaration signed on the occasion. The UAE was signalling rapprochement and reconciliation as conflict raged across the world. Here was a country of calm amidst the encircling gloom, and the Pope and His Eminence Dr. Ahmed Al-Tayeb believed that now was the time for a fresh start for the people of the warring world to set aside their differences. Credit goes to the enlightened leadership of the UAE for breaking barriers and building bridges with the West through the late Pope Francis, whose legacy has been embellished by his outreach to the Arab world for a new paradigm for peace.
Al Etihad
14-04-2025
- Business
- Al Etihad
Abu Dhabi, Dubai top cities for rich individuals, dynamic companies choosing to relocate: report
15 Apr 2025 00:34 ALLAN JACOB (ABU DHABI)Abu Dhabi and Dubai figure prominently among the top five cities attracting both high net worth individuals (HNWIs) and companies seeking to relocate, with economic stability, good quality of life and tax incentives being the major attractions. The country's safe haven status clinches it for rich individuals and dynamic companies, according to real estate consultancy and Abu Dhabi are the top two choices for individuals seeking to relocate, while Abu Dhabi bags the fifth position for corporates moving places. Singapore, Zurich and Auckland follow Dubai and Abu Dhabi for individual relocations, the real estate consultancy said in its Dynamic Wealth Indices report. Only Singapore, Seoul, New York, and London are ahead of Abu Dhabi among companies moving why are these rich individuals and companies moving base? According to the survey, the UAE remains an oasis of calm, more so amid recent global economic disruptions and geopolitical economic environment in the UAE is robust, with effective government policies, few taxes and other incentives. Quality-of-life factors are "increasingly influencing where high net worth individuals and footloose companies choose to locate," Savills said."Abu Dhabi's sovereign wealth has notably attracted connected family offices and global corporates. In turn, this has stimulated office demand – with new businesses requiring space – and the luxury residential market. Arguably, the push of fiscal policies of other countries has heightened the UAE's pull," said Rachael Kennerley, Director of Research at Savills Middle means that Abu Dhabi has ranked in the top 5 for both, individuals and corporates looking to relocate, highlighting its range of benefits."The UAE is a particularly attractive option for HNWIs who bring their companies with them – it has a dynamic economy that's diversifying away from oil and attracting growing sums of corporate and sovereign wealth investment," a company statement said."Against an increasingly changeable geopolitical and economic backdrop, global wealth flows are evolving, as HNWIs and businesses adapt their decisions on where to locate," said Paul Tostevin, Director of Savills World Research."Traditional predictors of global wealth flows, such as government policies, taxes and incentives, and the presence of either innovative talent pools or existing communities of similar individuals, have always been key drivers of dynamic footloose companies and individuals, and will continue to play a major role, but a sense of place, and a high quality of living, are progressively the deciding factor when making location decisions."Real estate is booming in both Abu Dhabi and Dubai. Prime residential capital values in Dubai rose by 6.8% in 2024, with prime office values growing by 7% in Q4 alone. In 2024, the residential sector recorded unprecedented transaction volumes, with a 47% year-on-year increase. Of this, over 4,600 units priced above Dh10 million were transacted during the year, marking a 23% year on-year increase. Savills said six of the top 12 locations feature in both the corporate and individual Dynamic Wealth Indices – highlighting how business and personal priorities can often overlap as businesses want to locate in destinations that can provide the necessary talent to sustain them, following skilled workers who tend to prioritise a better quality of life. While lifestyle factors appeal chiefly to the individual, the knock-on effects of creating talent clusters – or HNWIs bringing their businesses with them when they relocate - make them a magnet for corporate wealth, too.
