Latest news with #DIFC
Arabian Business
4 hours ago
- Business
- Arabian Business
Dubai's DIFC announces new Data Protection Law changes
Dubai International Financial Centre (DIFC) has enacted amendments to select legislation through DIFC Laws Amendment Law, Law No. 1 of 2025, effective July 15, 2025. The amendments include modifications to the Data Protection Law that introduce a Private Right of Action through the DIFC Courts, enhancing the rights and remedies available to data subjects whose personal data has been processed in contravention of the Data Protection Law. Key amendments to DIFC data laws Additional clarificatory amendments have been made to the scope of application and extra-territorial scope of the Data Protection Law. An update to Article 28 on Data Sharing clarifies the adequacy referential for assessing the suitability of third countries for receiving personal data. The financial centre has also enacted clarificatory amendments to the Law of Security, Insolvency Law and Employment legislation. The Amendment Law was enacted on July 8, 2025 and came into effect on July 15, 2025. The laws can be accessed via DIFC's legal database. DIFC operates as one of the world's most advanced financial centres and serves as the leading financial hub for the Middle East, Africa, and South Asia (MEASA) region, which comprises 77 countries with a population of 3.7 billion and an estimated GDP of $10.5 trillion. The Centre has facilitated trade and investment flows across the MEASA region for 20 years, connecting these markets with the economies of Asia, Europe, and the Americas through Dubai. DIFC houses an internationally recognised, independent regulator and a judicial system with an English common law framework. The region's largest financial ecosystem operates within the Centre, with 46,000 professionals working across over 6,900 active registered companies. The Centre's vision focuses on driving the future of finance through technology, innovation, and partnerships. It offers one of the region's most comprehensive AI, fintech and venture capital environments, including cost-effective licensing solutions, fit-for-purpose regulation, accelerator programmes, and funding for growth-stage startups.
Zawya
5 hours ago
- Business
- Zawya
DIFC announces enactment of amendments to select legislations
DUBAI - Dubai International Financial Centre (DIFC) has enacted amendments to select legislation through DIFC Laws Amendment Law, Law No. 1 of 2005. This includes amendments to the Data Protection Law to provide additional protections and rights of action for Data Subjects in the DIFC. In addition, legislative amendments provide clarification to ensure DIFC Laws remain in line with international best practices. DIFC has made amendments to the Data Protection Law to introduce a private right of action through the DIFC courts, enhancing the rights and remedies available to data subjects whose personal data has been processed in contravention of the Data Protection Law. Additional clarificatory amendments have been made, which include amendments to the scope of application and extra-territorial scope of the Data Protection Law; and an update to Article 28 on Data Sharing to clarify the adequacy referential for assessing the suitability of third countries for receiving Personal Data. Certain clarificatory amendments have also been enacted in respect of the Law of Security, Insolvency Law and Employment. The Amendment Law were enacted on 8th July 2025 and came into effect on 15th July 2025.
Emirates 24/7
5 hours ago
- Business
- Emirates 24/7
DIFC announces enactment of amendments to select legislations
Dubai International Financial Centre (DIFC) has enacted amendments to select legislation through DIFC Laws Amendment Law, Law No. 1 of 2005. This includes amendments to the Data Protection Law to provide additional protections and rights of action for Data Subjects in the DIFC. In addition, legislative amendments provide clarification to ensure DIFC Laws remain in line with international best practices. DIFC has made amendments to the Data Protection Law to introduce a private right of action through the DIFC courts, enhancing the rights and remedies available to data subjects whose personal data has been processed in contravention of the Data Protection Law. Additional clarificatory amendments have been made, which include amendments to the scope of application and extra-territorial scope of the Data Protection Law; and an update to Article 28 on Data Sharing to clarify the adequacy referential for assessing the suitability of third countries for receiving Personal Data. Certain clarificatory amendments have also been enacted in respect of the Law of Security, Insolvency Law and Employment. The Amendment Law were enacted on 8th July 2025 and came into effect on 15th July 2025. Follow Emirates 24|7 on Google News.
Zawya
6 hours ago
- Business
- Zawya
DIFC anounces enactment of amendments to select DIFC legislation through DIFC Law Amendment Law
Dubai, UAE: Dubai International Financial Centre (DIFC), the leading global financial centre in the Middle East, Africa and South Asia (MEASA) region, has enacted amendments to select legislation through DIFC Laws Amendment Law, Law No. 1 of 2005. This includes amendments to the Data Protection Law to provide additional protections and rights of action for Data Subjects in the DIFC. In addition, legislative amendments provide clarification to ensure DIFC Laws remain in line with international best practice. Data Protection Law DIFC has made amendments to the Data Protection Law to: Introduce a Private Right of Action through the DIFC Courts, enhancing the rights and remedies available to data subjects whose personal data has been processed in contravention of the Data Protection Law. Additional clarificatory amendments have been made, which include: Amendments to the scope of application and extra-territorial scope of the Data Protection Law. An update to Article 28 on Data Sharing to clarify the adequacy referential for assessing the suitability of third countries for receiving Personal Data. Other Legislative Amendments Certain clarificatory amendments have also been enacted in respect of the Law of Security, Insolvency Law and Employment. Enactment The Amendment Law were enacted on 8 July 2025 and came into effect on 15 July 2025. The Laws can be accessed via DIFC's legal database. -Ends- About Dubai International Financial Centre Dubai International Financial Centre (DIFC) is one of the world's most advanced financial centres, and the leading financial hub for the Middle East, Africa, and South Asia (MEASA), which comprises 77 countries with an approximate population of 3.7bn and an estimated GDP of USD 10.5trn. With a 20-year track record of facilitating trade and investment flows across the MEASA region, the Centre connects these fast-growing markets with the economies of Asia, Europe, and the Americas through Dubai. DIFC is home to an internationally recognised, independent regulator and a proven judicial system with an English common law framework, as well as the region's largest financial ecosystem of 46,000 professionals working across over 6,900 active registered companies – making up the largest and most diverse pool of industry talent in the region. The Centre's vision is to drive the future of finance through cutting-edge technology, innovation, and partnerships. Today, it is the global future of finance and innovation hub offering one of the region's most comprehensive AI, FinTech and venture capital environments, including cost-effective licensing solutions, fit-for-purpose regulation, innovative accelerator programmes, and funding for growth-stage start-ups. Comprising a variety of world-renowned retail and dining venues, a dynamic art and culture scene, residential apartments, hotels, and public spaces, DIFC continues to be one of Dubai's most sought-after business and lifestyle destinations. For further information, please visit our website: or follow us on LinkedIn and X @DIFC. For media enquiries, please contact: Nivine William Burson | Rasha Mezher | Dubai International Financial Centre Authority Manager, Marketing & Corporate Communications
Khaleej Times
a day ago
- Business
- Khaleej Times
How Dubai's ICD Brookfield Place became a net-zero carbon landmark
How can imposing structures be made friends of the planet? What does it take to make a building breathe lighter; to make it feel like a wispy highlight in a skyline filled with concrete and steel? At ICD Brookfield Place, a premier lifestyle and business address in Dubai, and the tallest and largest LEED Platinum building in Europe, the Middle East and Africa, it takes intention backed by data, design powered by innovation, and a vision that extends beyond its own shimmering glass façade that stands out like a beacon in Dubai International Financial Centre. It means recalibrating how energy flows, how tenants interact with their space, and how materials are chosen, reused, or retired. From reducing its reliance on district cooling and electricity to embracing a smart digital twin for energy analytics, ICD Brookfield Place is shedding excess, optimising operations, and steadily lightening its carbon load. Every sensor, audit, and air-flow tweak becomes a silent contribution to a larger climate commitment to achieve net-zero operational carbon by 2030 and whole-life net-zero by 2050. But making a building breathe lighter isn't only about cutting emissions. It's about leading by example in a region poised for transformation. It's about showing that commercial real estate can be both ambitious and accountable without losing its architectural or commercial edge. It was amid these lofty environmental ideals and objectives that ICD Brookfield Place released their first Net Zero Carbon Pathway Report to communicate their sustainability efforts transparently and demonstrate accountability for their climate impact. Elaborating on the efforts that have gone into the four-acre property in the centre of Dubai's business district and its serious commitment to attain its goals, Haithem Ibraheem, Vice President - Operations, said the report aimed to provide greater visibility into their targets, actions, and performance. Acknowledging the evolving nature of climate disclosure in the region, he said they recognised the need to establish a benchmark rooted in data and measurable progress. It is important for all the stakeholders to know where the promises made by industry stalwarts on reducing carbon emissions are going, and which way they will steer the planet. 'Reaching net zero carbon requires consistency, transparency, and shared responsibility, and that's the approach we have taken. We are a signatory to the World Green Building Council's Net Zero Carbon Buildings Commitment, which sets a clear framework,' says Ibraheem. This means they have agreed to a clear plan to reduce their carbon footprint in two key areas: direct emissions from their operations (known as Scope 1) and emissions from the energy they purchase (Scope 2). To tackle these, Ibraheem says, their strategy is: cut emissions at the source. 'We do this by improving energy efficiency across the building, upgrading systems where needed, and switching to renewable energy whenever possible. Only if these measures fall short will we consider using carbon offsets, and even then, only those that meet the highest standards.' For Scope 3 emissions — those that come indirectly through the people they work with, like tenants and suppliers — they believe change happens best through collaboration. 'So, we're working closely with everyone in our network to encourage aligned action, aiming for a bigger, shared impact,' Ibraheem adds. The fact that many companies and institutions that make mighty promises fail to follow through doesn't deter ICD Brookfield Place. 'Our skilled teams are the ones driving this forward, turning plans into measurable outcomes,' says Ibraheem. But people need firm blueprints to work on, and this, Ibraheem says, came with a structured approach involving precise steps, each requiring specialised expertise. 'At every step of the process, we engaged globally recognised consultants to carry out in-depth studies, helping us identify the most effective and achievable route to meet our sustainability goals,' he said. 'Their expertise was instrumental in shaping our detailed Net Zero Pathway roadmaps, which outlined various options supported by specific actions, timelines, budgets, and risk assessments.' 'In addition, they helped us establish interim targets aligned with climate science, providing a credible structure to measure our progress toward our 2030 objectives. Technical experts also played a key role in implementing sophisticated carbon management systems that allow us to monitor, track, and control emissions in real time with both precision and transparency.' By achieving a 16 per cent drop in cooling demand and a 7 per cent reduction in power consumption in 2024, ICD Brookfield Place has not only beaten others to the goalpost, but also helped design a framework for others to follow. Ibraheem says that from the outset, real-time energy monitoring tools such as utility metres and IoT sensors were installed across landlord-managed and tenant spaces. These are connected to a Centralized Management Platform, a custom digital system that compiles data from across the building and translates it into live dashboards. These dashboards not only show energy usage in real time but also help detect faults and analyse how systems behave. The team developed a detailed energy model and conducted extensive audits. This gave them the insights needed to identify inefficiencies and study how different systems performed under varying occupancy and weather conditions. Based on these findings, several key systems like HVAC, parking ventilation fans, lifts and escalators were reprogrammed to operate only when necessary and in energy-efficient modes. The ICD Brookfield Place building, Ibraheem contends, 'is designed to support both environmental sustainability and human sustainability, with a focus on wellbeing, culture, and experience. Every part of the design reflects a human-centric approach, where sustainability is about how people feel, connect, and thrive.' At its heart lies the Summer Garden, a soaring five-storey indoor atrium bathed in natural light and lined with tall trees. The space maintains a comfortable climate throughout the year and serves as a central social hub for both tenants and the wider community. Social wellbeing is nurtured through dedicated zones like Niche, a vibrant cultural space that hosts events, informal gatherings, and networking opportunities. Flexible workstations and shaded outdoor plazas encourage movement and a sense of balance throughout the day. To involve tenants in its sustainability goals, ICD Brookfield Place launched a phased tenant engagement programme. With nearly half its tenants already pursuing ESG or net zero targets, the initiative supports shared progress. The programme also fosters community through initiatives like Rooted, the annual sustainability market that unites tenants, innovators, and changemakers in celebrating collective action. Launching ambitious global initiatives like this and sustaining success at every step without setbacks is no easy feat. But it can also be amply rewarding, Ibraheem says. 'The opportunity to engage with people, including tenants, colleagues, and industry partners, around a cause that matters is hugely fulfilling. Sustainability opens the door to meaningful conversations, shared purpose, and new ways of working together. Seeing that sense of alignment grow has been a powerful reminder that real change begins with collective momentum.' From becoming a signatory to the World Green Building Council's Net Zero Carbon Buildings Commitment to publishing the region's first comprehensive Net Zero Carbon Pathway Report, ICD Brookfield Place has led with vision and accountability. It is nurturing a model for what the future of urban spaces can and should be — resilient, responsible, and quietly revolutionary.
